Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term. 7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. 7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month. 7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 3 contracts
Samples: Sublease (Zentalis Pharmaceuticals, Inc.), Sublease (Zentalis Pharmaceuticals, LLC), Sublease (Zentalis Pharmaceuticals, LLC)
Rent. 7.1. Tenant shall pay as rent to Landlord as Base Rent for the Premises, commencing Owner without deduction or offset on the Term Commencement Date, first day of each month:
3.1. The Monthly Rent may be increased at any time based on 90 days advance written notice in accordance with the sums set forth in Section 2.3provisions of the Mobilehome Residency Law and as allowed by state and local laws. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each and all other charges are due in advance on the first day of each and every calendar month during the Term.
7.2month. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that Utility charges are owed to Landlord, including any and all other sums that may become also due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar each month. Billed submetered utilities reflect prior usage last recorded. If the entire amount owed by you is not paid by 8:00 a.m. on the 6th day of each month, then you must pay a late charge specified on page 1 “SUMMARY OF PROVISIONS”. You must also pay us a handling charge in the Rent sum set forth for such fraction of a month “NSF” checks (returned by the bank due to insufficient funds or for any other reason the bank gives) as specified on page 1 “SUMMARY OF PROVISIONS”. All rents and other charges shall be prorated paid by check or money order. We may, however, upon 10 days’ written notice to you, require that payment be made in cash, or its equivalent. Monies received for such rent or utility payments may be applied to the earliest outstanding sums (“first in, first out”) despite payer’s instructions or endorsements purporting to restrict application of payment to a specific month or time period, or purporting to extinguish all arrearage due. Partial payments received shall not be construed as an accord and satisfaction or release of other debt, despite xxxxx’s purported instructions or endorsements to the contrary. The late charges are not a grace period or an option to pay late.
3.2. All utility charges billed to Tenant by Owner during each month. (Please note: Utility rates for utilities billed to Tenant by Owner are set by the Public Utilities Commission and other governmental agencies. Therefore charges for these utilities and services may be increased at any time in accordance with the rates established by these other parties and no advance notice of increases in these rates will be given to Tenant by Owner.)
3.3. Charges for recreational and other extra vehicles that may be stored in any available recreational vehicle storage are subject to the fees imposed by the Park’s Storage Agreement. Recreational vehicle storage is a separate obligation subject of separate agreement. Such fees may be stated on the basis monthly billing.
3.4. The Guest charge listed on page 1 shall be assessed for each calendar month or any portion thereof for each Guest who has stayed more than a total twenty (20) consecutive days or a total of the number of thirty (30) days in any calendar year. Such guest fee shall commence the month day after a Guest has exceeded the grace time specified in the preceding sentence and shall be paid at payable in full for each calendar month or portion thereof. This additional charge for Guests shall not however apply if the then-current rate for such fractional monthGuest is a member of Xxxxxx’s immediate family as defined by the Mobilehome Residency Law or if the person occupies the homesite pursuant to Civil Code §798.34.
7.43.5. Except as expressly provided herein, Tenant’s obligation to pay Rent shall Guest fees and charges for vehicle storage and utilities not regulated by the Public Utilities Commission or other governmental agencies may be discharged or otherwise affected by increased upon ninety (a90) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other perioddays notice.
Appears in 3 contracts
Samples: Mobile Home Rental Agreement, Mobile Home Rental Agreement, Mobile Home Rental Agreement
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each month the Base Rent, subject to adjustment as hereinafter provided, without deduction or set off, for each month of the entire Lease Term. One such monthly installment together with the Security Deposit shall be due and every payable by Tenant to Landlord upon execution of this lease, and a like Each monthly installment shall be due and payable without demand on or before the first day of each calendar month succeeding the Commencement Date during the Lease Term. Base Rent for any period of less than a full month shall be prorated, based on one thirtieth (1/30) of the current Base Rent for each day of the partial month this Lease is in effect.
7.2. 3.2 In addition to and along with the monthly installments of Base RentRent pursuant to Subsection 3.1 hereof, Tenant shall pay to Landlord an amount equal to the sum of all taxes on Rent, directly or indirectly imposed by any government entity (the “Rent Tax”) as Additional Rent.
3.3 If any installment of the Base Rent, or any other sums owed by Tenant to Landlord under this Lease, is not received within five (5) days after the due date thereof, without implying Landlord’s consent to such late payment, or if Landlord pays a sum on behalf of or for Tenant (which Landlord may do in Landlord’s sole and absolute discretion), and Landlord is not repaid such sum within ten (10) days after demand therefore is made, Tenant, to the extent permitted by law, agrees to pay, in addition to said installment of the Base Rent or such other sum owed, a late payment charge equal to ten percent (10%) of the installment of the Base Rent or such other sums owned. Said late payment charge shall constitute liquidated damages and shall be for the purpose of reimbursing Landlord for additional rent costs and expenses which Landlord expects to incur in connection with the handling and processing of late installment payments of the Base Rent and such other sums owed by Tenant to Landlord hereunder. If there is a late payment by Tenant, the damages resulting to Landlord will be difficult to ascertain precisely, and the foregoing charge constitutes a reasonable and good faith estimate by the parties of the extent of such damages and does not constitute interest. Notwithstanding the foregoing, such late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to this Lease. If any check delivered to Landlord by Tenant in payment of Base Rent or Additional Rent is not honored by the financial institution upon which such check was drawn and is returned to Landlord for any reason whatsoever, Landlord may impose, as Additional Rent, a returned check service charge of $15.00 or five percent (5%) of the amount of such returned check, whichever is greater, each time a check is not honored and returned to Landlord. Such returned check service charge shall be in addition to and not in lieu of any late payment charge. If any two (2) checks delivered to Landlord by Tenant during the Lease Term in payment of Base Rent or Additional Rent are not honored by the financial institution upon which such checks were drawn are returned to Landlord for any reason whatsoever, Landlord may require, upon written notice to Tenant, that any and all subsequent payments of Base Rent or Additional Rent be made by either cash, money order or cashier’s check for the balance of the Lease Term.
3.4 The Security Deposit shall be held by Landlord as security for the performance by Tenant of Tenant’s covenants and obligations under this Lease. Such deposit shall not be considered an advance payment of Rent or a measure of Landlord’s damages in a default by Tenant. No interest or other such return shall be paid on said Security Deposit. Upon any event of default by Tenant, Landlord may (but shall not be obligated to), without prejudice to any other remedy, use the Security Deposit to the extent necessary to fund any arrearage of Rent and any other damage, injury, expense or liability caused to Landlord by such event of default. Following such application of the Security Deposit, Tenant shall pay to Landlord on demand the amount so applied to restore the Security Deposit to its original amount. If there is not then an event of default, any remaining balance of the Security Deposit shall be returned by Landlord to Tenant upon termination of this Lease. If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to the transferee and thereafter shall have no further liability for the return of the Security Deposit. The Security Deposit may be co-mingled or combined with other accounts or funds of Landlord.
3.5 All sums other than Base Rent payable by Tenant to Landlord under this Lease shall constitute “Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated are herein referred to collectively as “Rent”. All Rent due hereunder shall bear interest from the due date until paid in full at a rate equal to the lesser of: (a) the prime interest rate in effect from day to day at NationsBank of Georgia, N.A., plus three (3) percentage points; or (b) the maximum legal rate allowed by law (the “Default Rate”). If more than the maximum legal rate of interest should ever be collected with regard to any sum due hereunder, said excess amount shall be credited against future payments of Rent accruing thereafter. If no such further Rent accrues hereunder, said excess sums shall be promptly refunded by Landlord to Tenant upon demand by Tenant.”
3.6 No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent shall be paid deemed to be other than a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction. Landlord may accept such check of payment without prejudice to Landlord, without abatement, deduction or offset, in lawful money of ’s right to recover the United States of America at the office of Landlord as set forth in Section 2.8 balance or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) pursue any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodremedy.
Appears in 3 contracts
Samples: Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.), Office Building Lease Agreement (Local Matters Inc.)
Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, Date the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. Notwithstanding the foregoing, Tenant shall not be obligated to pay any portion of Tenant’s Pro Rata Share of Operating Expenses (other than the cost of utilities servicing the Premises, which shall not be capped) in excess of Fifty Cents ($0.50) (the “PSF Cap”) per month per square foot of Rentable Area of the Premises.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the a thirty (30) day month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 2 contracts
Samples: Lease (Ambit Biosciences Corp), Lease (Ambit Biosciences Corp)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant except that the first month's rent shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) be paid upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlord, including Lease. The Monthly Installment of Rent in effect at any and all other sums that may become due by reason time shall be one-twelfth of the Annual Rent in effect at such time. Rent for any default period during the Term which is less than a full month shall be a prorated portion of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions Monthly Installment of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Rent based upon a thirty (30) day month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Landlord's address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. In the event the Term commences Tenant therefore agrees that if rent or ends on any other sum is not paid when due and payable pursuant to this Lease, a day other than the first day of a calendar month, then the Rent for such fraction of a month late charge shall be prorated for such period on imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 2 contracts
Samples: Lease (Aksys LTD), Lease Agreement (Accufacts Pre Employment Screening Inc)
Rent. 7.1Xxxxxx agrees to pay to Landlord, without demand, deduction, setoff, counterclaim or offset, Rent for the Term. Tenant shall pay to the Monthly Base Rent, in advance, by the first (1st) day of each calendar month during the Term, at Landlord’s address designated in Section 1 above unless Landlord as designates, in writing, otherwise. If the Commencement Date is not the first day of the month, the Monthly Base Rent for that partial month shall be apportioned on a per diem basis and shall be paid on or before the Premises, commencing on the Term Commencement Date. Tenant shall pay Landlord a service and handling charge equal to 5% of any Rent not paid within five (5) days after the date due. In addition, any Rent not paid within five (5) days after the sums set forth in Section 2.3due date will bear interest at the Interest Rate from the date due to the date paid. Tenant shall pay before delinquent all taxes levied or assessed upon, measured by, or arising from: (a) the conduct of Tenant’s business; (b) Tenant’s leasehold estate; (c) Tenant’s property; or (d) amounts payable by Tenant under this Lease, including all sales, use, transaction privilege, or other excise tax. Monthly Base Rent plus Tenant’s reimbursement for Operating Expenses shall comprise all of Tenant’s monetary obligations under this Lease. This Lease is a Net Lease. Monthly Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) absolutely net of all Operating Expenses (as defined below)Expenses, (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees subject to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Lease. The provision for Tenant’s part payment of Operating Expenses is intended to comply with the agreements, terms, covenants pass on to Tenant and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periodsreimburse Landlord for all Operating Expenses.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 2 contracts
Samples: Lease (JFrog LTD), Lease Agreement (JFrog LTD)
Rent. 7.1. (a) Tenant shall agrees to pay to Landlord as the Annual Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base and Additional Rent shall be paid (“Rent”) in equal consecutive monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant Rent for any period during the Term which is less than one frill month shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified be a prorated portion of the monthly installment of Rent based upon the actual number of calendar days in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3such month. Base Rent and Additional Rent shall together be denominated “Rent.” Said Rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand at Landlord’s address, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
(b) Tenant recognizes that late payment of any Rent or other sum due hereunder will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. In the event the Term commences Tenant therefore agrees that, if Rent or ends on a day any other than the first day of a sum is due and payable pursuant to this Lease, and when such amount remains due and unpaid ten (10) calendar monthdays after said amount is due, then the Rent for such fraction of a month amount shall be prorated for such period on increased by a late charge in an amount equal to the basis greater of: (a) $50.00, or (b) a sum equal to 5% of the number unpaid Rent or other payment. The amount of days in the month and shall late charge to be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided hereinby Tenant shall be, reassessed and added to Tenant’s obligation for each successive monthly period until paid. The provisions of this paragraph in no way relieve Tenant of the obligations to pay Rent shall not be discharged or otherwise affected by (a) other payments on or before the date on which they are due, nor do the terms of this paragraph in any Applicable Laws now or hereafter applicable way affect Landlord’s remedies pursuant to the Premises, (b) any other restriction on Tenant’s use, Paragraph 23 of this Lease.
(c) any casualty or taking or Tenant shall pay interest to Landlord at the Overdue Interest Rate (das defined below) any other occurrence; on account of (i) all overdue installments of Annual Base Rent and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender payments of Additional Rent due on a regular basis from the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to tenth day from the period prior due date thereof to the date of payment, and (ii) on all payments of Additional Rent that are not payable to Landlord hereunder on a regular basis from the expiration or earlier termination date of demand for payment until the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing date of payment. Upon default by Tenant in this sentence shall in any way affect Tenant’s obligations with respect to any other period.the payment of Additional Rent or
Appears in 2 contracts
Samples: Lease Agreement (Avago Technologies LTD), Lease Agreement (Cyoptics Inc)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.13.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.13.2 in any way affect TenantLandlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Tenant hereby acknowledges and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. Landlord and Tenant each acknowledges and agrees that the independent nature of the obligations of Tenant hereunder represents fair, reasonable, and accepted commercial practice with respect to any other periodthe type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to landlord entering into this Lease.
Appears in 2 contracts
Samples: Lease (Alnylam Pharmaceuticals, Inc.), Lease (Alnylam Pharmaceuticals, Inc.)
Rent. 7.1. 3.1 Effective as of the Rent Commencement Date, Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant except that the first month’s rent shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) be paid upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlord, including Lease. The Monthly Installment of Rent in effect at any and all other sums that may become due by reason time shall be one-twelfth of the Annual Rent in effect at such time. Rent for any default period during the Term which is less than a full month shall be a prorated portion of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions Monthly Installment of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Rent based upon a thirty (30) day month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Landlord’s address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. In the event the Term commences Tenant therefore agrees that if rent or ends on any other sum is not paid when due and payable pursuant to this Lease, a day other than the first day of a calendar month, then the Rent for such fraction of a month late charge shall be prorated for such period on imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 in the event said rent or other periodpayment is unpaid after date due. Notwithstanding the foregoing, Tenant shall be entitled, not more than once per calendar year, to a notice of non-payment and a five-day grace period thereafter before a late charge may be assessed.
Appears in 2 contracts
Samples: Lease Agreement (Aspen Aerogels Inc), Lease (Aspen Aerogels Inc)
Rent. 7.1During the Lease Term, Tenants, jointly and severally, shall pay a total rent to Landlord in the amount of $ . Said total rent shall be paid by Tenant to Landlord in equal monthly installments of $ (“Rent”) to Landlord, at Landlord’s address set forth above, in advance and shall be received in hand or postmarked on or before the first (1st) day of each calendar month during the Lease Term and without demand, delay or offset for any reason and without a grace period. If the Rent is not received in hand or postmarked on or before the 1st day of each month, the Tenant is in default of this said lease. Time is of the essence for each and every monthly Rent payment and for all other monies due and owing under this Lease, including security deposit, damages, invoices or other costs or expenses chargeable by law by Landlord to Tenant. Tenant shall submit all rental payments in full and acknowledges that, in the event there is more than one Tenant, then Tenants agree that all separate payments will be paid at the same time in the same envelope. Landlord reserves the right to refuse individual or partial payments. Tenant acknowledges that Rent amount for Premises specified herein may vary from similar Premises within the building and that such variation is due to either a discount granted to other Tenants for longevity of leasing with Landlord or water usage by double occupancy of any bedroom (Example: 2 tenants occupying a 1-bedroom apartment, 3-4 tenants occupying a 2-bedroom apartment, or 4-6 tenants occupying a 3-bedroom apartment) Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Landlord on or before the first (1st) day of each calendar month, and an ongoing $5 per day late fee after the 5th day that Rent has not been received in hand by Landlord. It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall pay to Landlord as Base Rent a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all future payments to Landlord in the Premisesform money order or certified cashiers check only. Landlord will first deduct all fees, commencing on the Term Commencement Datedamages, the sums costs and charges, including late fees, NSF fees, and other damages and costs set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3herein, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, from all amounts received from Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then monthly basis before applying said amounts to the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional monthdue.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Rent. 7.1. Tenant shall During the Term, Xxxxxx will pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, Charges in lawful money of the United States of America at and legal tender for the office payment of Landlord as set forth public and private debts, in the manner provided in Section 2.8 3.3. The Base Rent during any Lease Year is payable in advance in consecutive monthly installments on the fifth (5th) Business Day of each calendar month during that Lease Year is payable in advance in consecutive monthly installments on the fifth (5th) Business Day of each calendar month during that Lease Year; provided that Tenant shall be entitled to set off against a Rent payment due hereunder any rent payments made by Tenant’s Parent or one of its Subsidiaries to third-party lessors (and not previously set off) under leases (or subleases) existing on the Commencement Date, which leases (or subleases) are related to any Facility subject to this Master Lease or provide access or other similar rights to such Facility, if such lease (or sublease) has not been transferred to Landlord either (i) solely because the requisite consents to transfer have not been obtained or (ii) because the rent payable under such lease is satisfied through the payment of local development taxes, fees or other person or at such other place as amounts paid by Tenant (provided that, in each case, Tenant shall certify to Landlord may from time designate in writing. In the event the Term commences or ends writing on a day other than periodic basis as reasonably requested by Landlord the first day of a calendar monthapplicable lease (or sublease) and third-party lessor and include reasonable detail regarding the amounts paid thereunder). Unless otherwise agreed by the parties, then the Rent for such fraction of a month and Additional Charges shall be prorated for such period on as to any partial months at the basis beginning and end of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4Term. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction The parties will agree on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date an allocation of the expiration or earlier termination Base Rent on a declining basis for federal income tax purposes within the 115/85 safe harbor of Section 467 of the Term or Code, assuming a projected schedule of Base Rent for this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodpurpose.
Appears in 2 contracts
Samples: Master Lease (PENN Entertainment, Inc.), Master Lease (Gaming & Leisure Properties, Inc.)
Rent. 7.13.1. The Tenant shall punctually pay to Landlord as Base the Rent for the Premises, commencing on Leased Premises for the Term Commencement Dateto the Landlord in the amounts and at the times set forth below, the sums without bxxx or other demand and without any offset, deduction or abatement whatsoever, except as may be otherwise specifically set forth in Section 2.3this Agreement.
3.2. Base The Basic Rent for the Leased Premises during the Initial Term shall be paid at the rate per year set forth below. The annual rate of Basic Rent for the Leased Premises during any Renewal Term shall be calculated as set forth in subsection 6.1.4 of this Agreement for the respective Renewal Term.
3.3. The Tenant shall punctually pay the applicable Basic Rent in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2, with the exception of Basic Rent for the first full calendar month of the Initial Term and for any period of less than a full calendar month at the beginning of the Term. In addition to Base Rent, The Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) the Basic Rent for the first full calendar month of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) Initial Term upon execution and (c) any other amounts that Tenant assumes or agrees to pay under the provisions delivery of this Lease that are owed to Landlord, including any and all other sums that may become due by reason Agreement. The Tenant shall punctually pay the Basic Rent for a period of any default less than a full calendar month at the beginning of Tenant or failure the Term on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice Commencement Date.
3.4. The Basic Rent and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent for any period of less than a full calendar month shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingprorated. In the event that any installment of Basic Rent cannot be calculated by the time payment is due, such portion as is then known or calculable shall be then due and payable; and the balance shall be due upon the Landlord’s giving notice to the Tenant of the amount of the balance due.
3.5. The Additional Rent for the Leased Premises during the Term commences shall be promptly paid by the Tenant in the respective amounts and at the respective times set forth in this Agreement.
3.6. That portion of any amount of Rent or ends other amount due under this Agreement which is not paid on the day it is first due shall incur a late charge equal to the sum of: (i) five percent of that portion of any amount of Rent or other amount due under this Agreement which is not paid on the day it is first due and (ii) interest on that portion of any amount of Rent or other amount due under this Agreement which is not paid on the day it is first due at the Base Rate(s) in effect from time to time plus two additional percentage points from the day such portion is first due through the day of receipt thereof by the Landlord. Any such late charge due from the Tenant shall be due immediately. Anything hereinabove contained to the contrary notwithstanding, it is expressly understood and agreed that no late charge shall be imposed if Rent is not paid by the fifth day of the month provided that if Rent is not paid by the fifth day of the month more than twice in any twelve month period then, thereafter, the late charge shall be imposed if Rent is not paid by the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 2 contracts
Samples: Lease Agreement (Foamix Pharmaceuticals Ltd.), Lease Agreement (Foamix Pharmaceuticals Ltd.)
Rent. 7.1For use and occupancy of the Premises during the Lease Term, but subject to the terms timely payment requirements set forth below, Resident agrees to pay Owner the sum of $«Total contract amount» (which includes applicable federal, state, and local taxes) (the "Rent").Rent is due and payable in periodic installments, on or before the dates specified below (the "Due Dates") regardless of when these dates occur, including weekends, holidays, semester breaks or vacations, with no exceptions. Tenant Upon timely payment of each of these installments, Resident shall pay be entitled to Landlord as Base Rent for occupy the Premises, commencing on . Resident shall tender all sums to the Term Commencement Date, the Owner’s agent under this Lease. All sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month currency and shall be paid at in full, without demand or set off. Payment or receipt of an installment of less than the then-current rate for such fractional month.
7.4amount stated in the Lease shall be deemed to be nothing more than partial payment on the account. Except as expressly provided hereinUnder no circumstances shall Owner’s acceptance of a partial payment constitute accord and satisfaction. Nor will Owner’s acceptance of a partial payment forfeit Owner’s right to collect the balance due on the account, Tenant’s obligation despite any endorsement, stipulation, or other statement on any check or other writing. The Owner may accept any partial payment check with any conditional endorsement without prejudice to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable its right to recover the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereofbalance remaining due, or to xxxxx rentpursue any other remedy available under this Lease. TenantDeletions, annotations, or other modifications to documents relevant to the Lease by applicant, Resident, or Guarantor, except by Owner’s obligation to pay Rent with respect written consent, and may render Lease null and void at Owner’s option. All payments will be first applied to any period or obligations arisingoutstanding delinquent portions of the Rent, existing or pertaining late fees, and other fees and charges owed by Resident and then applied to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodmonthly installment currently due.
Appears in 2 contracts
Samples: Individual Residential Lease Agreement, Residential Lease Agreement
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first (1st) day of each and every full calendar month during the Term.
7.2, except that the first (1st) full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days Unless specified in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable this Lease to the Premisescontrary, (b) any all other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; amounts and sums payable by Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or Landlord pursuant to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive be deemed additional rent. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within five (5) business days following notice from Landlord that such expiration payment is overdue (a “Late Notice”), then a late charge shall be imposed in an amount equal to five percent (5%) of the unpaid rent or earlier terminationother payment which is overdue (a “Late Charge”); provided, however, that nothing Landlord shall not be obligated to deliver a Late Notice to Tenant more often than once in any twelve (12) month period in order to collect a Late Charge for amounts which are not paid on or before the date when due. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this sentence Section 3.2 shall in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after the date due.
Appears in 2 contracts
Rent. 7.1. Tenant Lessee shall pay to Landlord as Base Rent Lessor rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day Premises of each and every calendar Eighteen Thousand ---- Five Hundred Twenty-Eight Dollars ($18,528.00) per month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America America, subject to adjustment as provided in Section A of this Paragraph. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $18,528.00 shall be paid upon execution of the office Lease by both Lessor and Lessee, which sum represents the amount of Landlord the first month's rent. A deposit of $18,528.00 as a Security Deposit shall be made by Lessee and held by Lessor pursuant to Paragraph 5 of this Lease, and shall be paid upon execution of the Lease by both Lessor and Lessee. If Lessee is not in default of any provision of this Lease, this sum, without interest thereon, shall be applied toward the rent due for the last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. Monthly rent shall be paid in advance on the first (1st) day of each calendar month as follows: Months Monthly Rent/NNN ------ ---------------- 01-12 $18,528.00 13-24 $19,300.00 25-36 $20,072.00 37-48 $20,844.00 Rent for any period during the term hereof which is for less than one (1) full month shall be a pro-rata portion of the monthly rent payment. Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any encumbrance and note secured by any encumbrance covering the Premises. Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within ten (10) days following the date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee's default with respect to the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Section 2.8 Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such other person or at such other place as Landlord may from time designate in writingevent, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be revised to conform to the date of Lessor's delivery of possession. In the event that Lessor shall permit Lessee to occupy the Term commences or ends on a day other than Premises prior to the first day commencement date of a calendar monththe term, then the Rent for such fraction of a month occupancy shall be prorated for such period on the basis subject to all of the number provisions of days in this Lease, including the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent rent at the same monthly rate as that prescribed for the first month of the Lease term. Lessee shall have the right to enter the Premises prior to commencement date to install fixtures and equipment, provided Lessee shall not be discharged or otherwise affected unreasonably interfere with construction of improvements by (a) any Applicable Laws now or hereafter applicable to the PremisesLessor's contractors.
A. Cost-of-Living Increase. Not applicable. ----------------------- --------------
B. All taxes, (b) any other restriction on Tenant’s useinsurance premiums, (c) any casualty or taking or (d) any other occurrence; Outside Area Charges, late charges, costs and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation expenses which Lessee is required to pay Rent hereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs, and attorney's fees and expenses which Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the terms of this Lease, shall be deemed to be additional rent (hereinafter, "Additional Rent"), and, in the event of non-payment by Lessee, Lessor shall have all of the rights and remedies with respect to any period or obligations arising, existing or pertaining to thereto as Lessor has for the period prior to the date non-payment of the expiration or earlier termination monthly installment of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodrent.
Appears in 2 contracts
Samples: Lease (Oratec Interventions Inc), Lease (Oratec Interventions Inc)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 2 contracts
Samples: Lease Agreement (Schrodinger, Inc.), Memorandum of Understanding (Cygne Designs Inc)
Rent. 7.1. A. During the Term the Annual Basic Rent to be paid by Tenant shall pay to Landlord shall be $336,000.
B. Said rent, additional rent and all other payments due under this Lease shall be paid to the Landlord at the address hereinabove first specified, or as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth Landlord may otherwise direct in Section 2.3writing. Base Rent shall be paid payable in equal monthly installments as set forth in Section 2.3, each in advance due and payable on the first day of each and every calendar month during in advance. Failure to pay rent by the Termfifth day of the month shall be deemed to be a breach of a substantial obligation of the Lease. Additionally, if Tenant fails to pay the annual basic rent or additional rent on or before the 7th day of the month, (in addition to all other remedies Landlord may have hereunder) Tenant shall pay one hundred fifty ($150.00) dollars as a late fee. Said fee shall be deemed to be additional rent. Interest shall accrue on any unpaid rent or additional rent at twenty-four (24%) percent per annum or at the highest legal rate allowable pursuant to law, whichever amount shall be less.
7.2. In addition C. If Tenant shall submit any check to Base RentLandlord for payment of any obligation hereunder and said check is returned unpaid ("bounced" check), Tenant shall pay one hundred fifty ($150.00) dollars to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) for the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingbookkeeping charge incurred. In the event Tenant submits more than one "bounced" check during the Term commences or ends on a day other than the first day of a calendar monthTerm, then the Rent for such fraction of a month Tenant shall be prorated for obligated to make all payments to Landlord by certified check or bank check. In such period on the basis event, if Tenant fails to submit a certified check or bank check to Landlord, said failure shall be deemed to be a substantial breach of the number terms of days this Lease. The one hundred fifty ($150) dollar bookkeeping charge is in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect addition to any other periodremedies Landlord may have pursuant to the terms of this Lease.
Appears in 1 contract
Samples: Lease (Americas Shopping Mall Inc)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month's rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs with respect to the event payment of rent, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the Term commences next scheduled rent payment or ends on a day other than within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Rockford Corp)
Rent. 7.1. (a) Tenant shall pay to Landlord at the address set forth above, or at such other address as Base Rent for Landlord may designate from time to time, without prior demand therefore and without any deduction, setoff, abatement or credit whatsoever, as fixed minimum monthly rent during the Premises, commencing on first two years of the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each sum of Twelve Thousand Two Hundred and 00/100 Dollars ($12,200.00) ("Basic Rent") in advance on the first (1st) day of each and every calendar month during the Term hereof. Thereafter, the Basic Rent due and payable for the balance of the Term shall be the fair market rent for the Premises as determined by Landlord and set forth in a written notice to Tenant, which determination shall be as of the date (hereinafter called the "Determination Date") occurring three (3) months prior to the start of such new rent period and which determination shall be made by Landlord and given in writing to Tenant within a reasonable period of time after the occurrence of the Determination Date.
(b) If Tenant disputes the fair market rent as determined by Landlord pursuant to Paragraph 3(a) hereof, then at any time on or before the date occurring thirty (30) days after Tenant has been notified by Landlord of Landlord's determination of the fair market rent, Tenant may initiate the arbitration process provided for herein by giving notice to that effect to Landlord, and if Tenant so initiates the arbitration process such notice shall specify the name and address of the person designated to act as an arbitrator on its behalf. If Tenant fails to initiate the arbitration process as provided above, then Landlord's determination of the Basic Rent during such period shall be conclusive. Within thirty (30) days after the Landlord's receipt of notice of the designation of Tenant's arbitrator, Landlord shall give notice to Tenant specifying the name and address of the person designated to act as an arbitrator on its behalf. If Landlord fails to notify Tenant of the appointment of its arbitrator within the time above specified, then the appointment of the second arbitrator shall be made in the same manner as hereinafter provided for the appointment of a third arbitrator in a case where the two arbitrators appointed hereunder and the parties are unable to agree upon such appointment. The two arbitrators so chosen shall meet within ten (10) days after the second arbitrator is appointed, and if, within twenty (20) days after the second arbitrator is appointed, the two arbitrators shall not agree upon a determination of the Basic Rent for such period, they shall together appoint a third arbitrator. If they are unable to agree upon such appointment within thirty (30) days after the appointment of the second arbitrator, the third arbitrator shall be selected by the parties themselves if they can agree thereon within a further period of fifteen (15) days. If the parties do not so agree, then either party, on behalf of both and on notice to the other, may request such appointment by the American Arbitration Association (or any organization successor thereto). The majority of the arbitrators shall determine the fair market rent of the Premises for the balance of the Term and render a written certified report of their determination to both Landlord and Tenant within thirty (30) days of the appointment of the first two arbitrators or thirty (30) days from the appointment of the third arbitrator, if such third arbitrator is appointed pursuant to this Paragraph 3(b); and the fair market rent, so determined, shall be the Basic Rent for the Premises during the balance of the Term.
7.2. In addition to Base Rent(c) Each party shall pay the fees and expenses of the one of the two original arbitrators appointed by or for such party, and the fees and expenses of the third arbitrator and all other expenses (not including the attorneys fees, witness fees and similar expenses of the parties which shall be borne separately by each of the parties) of the arbitration shall be borne by the parties equally.
(d) Each of the arbitrators selected as herein provided shall be a licensed real estate appraiser in the State of Indiana and have at least five (5) years experience in the appraisal or professional licensed brokerage of leasing and renting of similar space in Xxxxx and/or Vanderburgh County, Indiana and shall hold the designation as a Member of the Appraisal Institute, Counselor of Real Estate or Society of Real Estate Appraisers.
(e) If the Tenant initiates the aforesaid arbitration process and as of the applicable date the amount of the fair market rent has not been determined, Tenant shall continue to pay the Basic Rent then in effect and when the determination has actually been made, an appropriate retroactive adjustment shall be made as of the applicable date. If that such determination shall result in an overpayment by Tenant of any Basic Rent, such overpayment shall be paid by Landlord to Landlord as Tenant promptly after such determination.
(f) All other sums payable by Tenant hereunder, regardless of to whom such sums may be payable, shall be deemed additional rent (“"Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below"), (b) and shall be collectible by Landlord in the Property Management Fee (same manner as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Basic Rent. Base Basic Rent and Additional Rent shall together be denominated “are hereinafter referred to collectively as "Rent".” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Samples: Lease Agreement (Alloy Inc)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In Unless specified in this Lease to the event the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within ten (10) days after the date such payment is due and payable pursuant to this Lease on more than two (2) occasion during any calendar year, beginning with the third (3rd) such late payment and for every subsequent late payment during such period on calendar year a late charge shall be imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Tenant hereby acknowledges and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. Landlord and Tenant each acknowledges and agrees that the independent nature of the obligations of Tenant hereunder represents fair, reasonable, and accepted commercial practice with respect to any other periodthe type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to landlord entering into this Lease.
Appears in 1 contract
Samples: Lease (Ore Pharmaceuticals Inc.)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month's rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Scolr Inc)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2Terms, except that the first full mouth’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Rent. 7.14.1 Tenant hereby agrees to pay Landlord the Base Rent. Tenant shall pay to Landlord as Base For purposes of Rent for the Premises, commencing on the Term Commencement Dateadjustment hereunder, the sums set forth number of months is measured from the first day of the calendar month in Section 2.3which the Initial Commencement Date falls. Base Rent Each monthly installment (the "Monthly Rent") shall be paid in equal monthly installments payable by check or by money order or by Federal Reserve Automated Clearing House (ACH) deposit to an account as set forth in Section 2.3, each in advance directed by Landlord by written notice to Tenant on or before the first day of each and every calendar month during the Term.
7.2month. Landlord agrees to accept payment by Federal Reserve Automated Clearing House (ACH) deposit only so long as such system is available for Landlord's use. In addition to the Base Rent, Tenant also agrees to pay Tenant's Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all other sums of money as shall become due and payable by Tenant as set forth in this Lease, all of which shall constitute additional rent under this Lease (the "Additional Rent"). All non-recurring payments of Additional Rent will be due and payable as of the date that is thirty (30) days after Landlord's delivery of an invoice therefor. Landlord expressly reserves the right to apply any payment received to Base Rent or any other items of Rent that are not paid by Tenant. The Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter collectively called "Rent" and shall be paid when due in lawful money of the United States without demand, deduction, abatement, or offset, except to the extent expressly set forth herein, to the addresses for the rental payment set forth in the Basic Lease Information, or via ACH transfer or as Landlord may designate from time to time by written notice delivered at least thirty (30) days prior to the effective date of the address change.
4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall pay to Landlord a late charge (the "Late Charge"), as additional rent (“Additional Rent”, in an amount of five percent (5%) at times hereinafter specified of the amount of such late payment. Failure to pay any Late Charge following notice and the passage of the cure period described in this Lease (aSection 22.1(a) Tenant’s Share below shall be deemed a Monetary Default (as defined hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord's remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of Landlord's right to charge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the foregoing provisions of this Section 9.l(c4.2, the Late Charge shall not be imposed with respect to the first late payment in the twelve (12) belowmonths following the Commencement Date or with respect to the first late payment in any succeeding twelve (12) month period during the Term unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such applicable twelve (12) month period which is not received within five (5) days after its due date.
4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of the first installment of Monthly Rent and Tenant's Share of Operating Expenses and Taxes due hereunder and (ii) an amount equal to the Security Deposit Amount to be held by Landlord as defined belowsecurity for Tenant's faithful performance of all of the terms, covenants, conditions, and obligations required to be performed by Tenant hereunder (the "Security Deposit"), . The Security Deposit Amount shall be increased upon the addition of any Must-Take Space or Specific Offer Space (b) the Property Management Fee (as defined below) to the Premises by an amount equal to three (3) months of the initial Base Rent payable under this Lease with respect to such Must-Take Space or Specific Offer Space, and Tenant shall deliver such increased amount to Landlord on or before the applicable Must‑Take Space Commencement Date or Specific Offer Space Delivery Date, as applicable. Provided no Event of Default has occurred under this Lease as of such date, Tenant shall no longer have the obligation to maintain the Security Deposit if at any time during the Term (1) Tenant becomes a public company with its stock traded on the New York Stock Exchange or NASDAQ and (c2) Tenant has thereafter achieved a market capitalization of at least $500,000,000 (the reduction in the Security Deposit permitted by this sentence is sometimes referred to herein as the "Market Capitalization Reduction"). Landlord acknowledges that, as of the Effective Date, Tenant has achieved a sufficient market capitalization to justify a Market Capitalization Reduction, and, therefore, no Security Deposit is initially due under this Lease. If Tenant is entitled to a reduction in or elimination of the Security Deposit, Tenant shall provide Landlord with written notice requesting that the Security Deposit be reduced or eliminated as provided above and the excess portion of the Security Deposit be applied to payment of Base Rent (the "Reduction Notice"). If Tenant provides Landlord with a Reduction Notice, and Tenant is entitled to reduce or eliminate the Security Deposit as provided herein, Landlord shall apply the applicable portion of the Security Deposit to Base Rent. Notwithstanding the foregoing, if at any other amounts time after the Security Deposit has been reduced the market capitalization of Tenant falls below $500,000,000 for three (3) consecutive calendar months, Tenant shall within ten (10) business days after Landlord's request, restore the amount of the Security Deposit to the amount that would otherwise apply if the Market Capitalization Reduction had not occurred; following any such reinstatement of the Security Deposit, if at any time thereafter Tenant assumes or agrees achieves a market capitalization of at least $500,000,000 for a period of at least three (3) consecutive calendar months, Tenant may once again have the right, upon notice to pay under Landlord, require a Market Capitalization Reduction. The Security Deposit shall be held by Landlord as security for the provisions performance by Tenant of all of the covenants of this Lease that are owed to Landlordbe performed by Tenant and Tenant shall not be entitled to interest thereon. The Security Deposit is not an advance rent deposit, including any and all other sums that may become due by reason an advance payment of any default other kind, or a measure of Landlord's damages in any case of Tenant's default. If Tenant or failure on Tenant’s part fails to comply with timely perform any of the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice including without limitation the provisions relating to payment of Rent, the removal of property at the end of the Term, the repair of damage to the Premises caused by Tenant, and the lapse cleaning of the Premises upon termination of the tenancy created hereby, then Landlord shall have the right, but no obligation, to apply the Security Deposit, or so much thereof as may be necessary, for the payment of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) sum in default and/or to cure any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender such failure by Tenant. If Landlord applies the Premises Security Deposit or any part thereof, thereof for payment of such amounts or to xxxxx rent. cure any such other failure by Tenant’s obligation , then Tenant shall within ten (10) days after demand by Landlord, pay to pay Rent with respect Landlord the sum necessary to any period or obligations arising, existing or pertaining restore the Security Deposit to the period prior to the date of the expiration or earlier termination of the Term or full amount then required by this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s Section 4.3 Landlord's obligations with respect to the Security Deposit are those of a debtor and not a trustee. Landlord shall not be required to maintain the Security Deposit separate and apart from Landlord's general or other funds and Landlord may commingle the Security Deposit with any of Landlord's general or other periodfunds. Upon termination of the original Landlord's or any successor owner's interest in the Premises or the Building and the transfer of any then-current Security Deposit to Landlord's transferee by payment or other credit, the original Landlord or such successor owner shall be released from further liability with respect to the Security Deposit upon the original Landlord's or such successor owner's complying with California Civil Code Section 1950.
Appears in 1 contract
Samples: Lease Agreement (Penumbra Inc)
Rent. 7.1. Tenant shall timely pay to Landlord Rent (as Base Rent for defined in the PremisesBasic Lease Information), commencing on including the Term Commencement Date, the sums amounts set forth in Section 2.3. Base Rent Exhibit C hereto, without notice, demand, deduction or set-off (except as otherwise expressly provided herein), by good and sufficient check drawn on a national banking association at Landlord’s address provided for in this Lease or as otherwise specified by Landlord and shall be paid accompanied by all applicable state and local sales or use taxes, if applicable. Except as otherwise expressly set forth herein, the foregoing covenants of Tenant are independent covenants and Tenant shall have no right to withhold or xxxxx any payment of Base Rent, Additional Rent, Taxes, Insurance or other payment, or to set off any amount against the Base Rent, Additional Rent, Taxes, Insurance or other payment then due and payable, or to terminate this Lease, because of any breach or alleged breach by Landlord of this Lease or because of the condition of the Premises. Tenant hereby acknowledges and agrees that it has been represented by counsel of its choice and has participated fully in equal monthly installments the negotiation of this Lease, that Tenant understands that the remedies available to Tenant in the event of a default by Landlord may be more limited than those that would otherwise be available to Tenant under the common law in the absence of certain provisions of this Lease, and that the so-called “dependent covenants” rule as developed under the common law (including, without limitation, the statement of such rule as set forth in the Restatement (Second) of Property, Section 2.37.1) shall not apply to this Lease or to the relationship of landlord and tenant created hereunder. Base Rent, each adjusted as herein provided, shall be payable monthly in advance beginning on the first day of each and every Base Rent Commencement Date. The monthly Base Rent for any partial calendar month during which the Term.
7.2. In addition to Base RentRent Commencement Date occurs shall equal the product of 1/365 (or in the event of a leap year, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/366) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. annual Base Rent in effect during such partial month and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month partial month, and shall be paid at due on the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.Base Rent
Appears in 1 contract
Rent. 7.1. Tenant (a) Commencing on the Rent Commencement Date, Subtenant shall pay to Landlord as Annual Base Rent for the PremisesRent, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments of the Monthly Base Rent (collectively referred to herein as set forth in Section 2.3, each in advance " Base Rent") on the first day of each and every calendar month during the TermSublease Term (partial months prorated).
7.2. In (b) Commencing on the Rent Commencement Date, and continuing thereafter throughout the Sublease Term, Subtenant shall pay to Sublandlord, in addition to Base Rent, Tenant Additional Rent in equal monthly installments based on the portion of the estimates of such charges provided under the Prime Lease and allocable to the Sublease Space, and otherwise adjusted and reconciled as and when provided in the Prime Lease. Subtenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become are due by reason of any default of Tenant or failure on Tenant’s part in accordance with this Sublease not later than five (5) business days prior to comply with the agreements, terms, covenants and conditions of this time Sublandlord is obligated under the Prime Lease to make any such payment to Landlord. It is the intention of the parties that during the Sublease Term, Subtenant shall be performed by Tenant, after notice and responsible for all financial obligations due under the lapse Prime Lease except for the payment of any applicable cure periods.
7.3. Annual Base Rent and Additional except as otherwise expressly provided in this Sublease.
(c) Any payment of Rent not paid within five (5) days of the due date shall together be denominated “Rentsubject to a late charge of five percent (5%) of such payment. Any payment of Rent not paid within thirty (30) days of the due date also will bear interest at a per annum rate equal to the lesser of eighteen percent (18%) or the maximum legal rate.”
(d) All payments of Rent shall be paid to Landlord, made without abatement, demand (unless otherwise required in the Prime Lease) deduction or offsetsetoff, and shall be deemed to constitute Rent under this Sublease, in lawful money of the United States States. All payments of America at the office of Landlord as set forth in Section 2.8 rent shall be paid to Sublandlord’s Rent Address or to such other person or at such other place as Landlord Sublandlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Rent. 7.1. Tenant (a) Subtenant shall pay to Landlord Sublandlord as base rent ("Base Rent Rent") for the PremisesPremises during he term hereof the sum of Forty-Five Thousand Eighty Dollars ($45,080) per month. In addition to Base Rent, commencing on during the Term Commencement Dateterm of this Sublease, Subtenant shall pay to Sublandlord Subtenant's share ("Subtenant's Share") of all additional rent ("Additional Rent") payable to Landlord under Paragraph 5(b) of the sums Master Lease and all expenses incurred by Sublandlord in performing the obligations set forth in Section 2.3Paragraph 17.B. of the Master Lease. Base Subtenant's Share of Additional Rent shall be paid in equal fifty-eight and five tenths percent (58.5%).
(b) Collectively, Base Rent and Additional Rent shall hereinafter be referred to as "Rent". Rent for any period during the term hereof which is for less than one month shall be a pro rata portion of the monthly installments as set forth in Section 2.3, each installment. Rent shall be payable in advance on the first day of each and every calendar month during the Term.
7.2month, without demand, offset, counterclaim or setoff. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” All Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America Sublandlord at the office of Landlord as its address set forth in Section 2.8 or to such other person Paragraph 18 hereof or at such other place as Landlord Sublandlord may from time designate in writingby written notice to Subtenant.
(c) Any Rent or other amount due hereunder to Sublandlord that is not paid when due shall bear interest at the rate of ten percent (10%) per annum or the maximum rate 2 allowed by law, whichever is less. In addition, for each payment of Rent that is not paid within ten (10) days after the event the Term commences or ends on a day other than the first day date of a calendar monthRent payment is due, then the Rent for such fraction of a month Subtenant shall be prorated for such period on the basis pay to Sublandlord an additional sum equal to four percent (4%) of the number amount overdue as a late charge. Payment and acceptance of days in the month interest and a late charge hereunder shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation not excuse any failure by Subtenant to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodwhen due.
Appears in 1 contract
Samples: Sublease (Verilink Corp)
Rent. 7.13.1. Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first (1st) day of each and every full calendar month during the Term.
7.2, except that the first (1st) full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Address for Rent Payment, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In Unless specified in this Lease to the event contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2. Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the Term commences extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or ends on a day any other than the first day of a calendar monthsum is not paid within five (5) days following notice from Landlord that such payment is overdue, then the Rent for such fraction of a month late charge shall be prorated for such period on imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00); or (b) five percent (5%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent for each successive month until paid. The provisions of this Section 3.2 shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after the date due.
Appears in 1 contract
Samples: Lease (Ocular Therapeutix, Inc)
Rent. 7.1(a) The Tenant agrees to pay to the Landlord, at the Landlord’s office or such place as directed in writing form time to time by the Landlord: For the Rented Premises per: $ PLUS for Parking: $ PLUS for Storage/locker: $ PLUS for Additional Appliances per month: $ Total Monthly Rental payable in advance: $ Cash will not be accepted as payment for rent. Payment must be remitted by pre-approved payment. The Monthly Rental of $ (CANADIAN DOLLARS) due and payable on the 1ST day of each month for a period of the Tenancy commencing ending Rental cheques are payable to Richcraft Rental Limited Partnership. First and last’s months’ rent to be paid in advance upon completion or date of occupancy, whichever comes first.
(i) The Tenant hereby acknowledges and agrees that any late payment of rent may be recorded at the direction of the Landlord with any credit agency or credit bureau.
(c) (ii) And further provided that if the Monthly Rental is paid by cheque or by pre-approved payment is not honoured by the Tenant’s bank, the Tenant shall pay the Landlord, in addition to Landlord as Base Rent for the Premises, commencing on the Term Commencement Daterent, the sums set forth in Section 2.3sum of Forty Dollars ($40.00) as a service and administrative charge. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3If a second payment is not honored, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay the Landlord, in addition to Landlord as additional rent the rent, the sum of Ninety Dollars (“Additional Rent”) at times hereinafter specified $90.00). If a third payment is not honored, the Tenant shall pay the Landlord, in this Lease addition to the rent, the sum of One Hundred and Fifty Dollars (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below$150.00) and (c) any other amounts that Tenant assumes or agrees the Landlord may pursue to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply file with the agreementsLandlord and Tenant board for eviction. For any non-payment, terms, covenants and conditions the Landlord may require the Tenant to make any or all subsequent payments of this Lease to be performed rent by Tenant, after notice and the lapse of any applicable cure periodsmoney order or certified cheque.
7.36. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.DEPOSIT
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. Tenant shall agrees to pay to Landlord as base rent (the “Base Rent for the Premises, Rent”) together with applicable sales tax and property taxes in consecutive monthly installments commencing on the Term Commencement Date, the sums set forth and in Section 2.3such amounts as described in Exhibit “B” which is attached hereto and incorporated herein by reference. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to The Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) sales tax and (c) any other charges, fees or amounts that due from the Tenant assumes or agrees to pay the Landlord under the provisions terms of this Lease that are owed hereinafter collectively referred to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated as “Rent.” Tenant agrees to pay the Rent in advance on or before the first of every month. If Tenant makes the monthly payment on or after the 10th day of the month, Landlord shall assess a late fee of 5% of the rent due for that month. The late fee is intended to compensate Landlord for administrative expenses associated with responding to late payment, and shall not be considered liquidated damages or interest. Non-payment or delay in the payment of Rent beyond thirty (30) days from the due date will be deemed a default of this Lease and shall be grounds for termination of this Lease. Each year, the Landlord shall provide the Tenant with monthly invoices for rent and Tenant shall remit such invoice with each payment of Rent. The Rent shall be paid made payable to Landlord, without abatement, deduction or offset, in lawful money “City of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month Gainesville” and shall be paid at delivered together with the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged appropriate invoice on or otherwise affected by (a) any Applicable Laws now or hereafter applicable before the 1st of each month to the PremisesXxxxxxxx and Collections Office, (b) any other restriction on TenantAttn: Xxxxxxx Xxxxxxx, 000 X. Xxxxxxxxxx Xxxxxx, Xxxxxxxxxxx, XX 00000. The Landlord’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing preference is for payment to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodbe made by Electronic Funds Transfer.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month's rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($500.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any other periodArticle 19 of this Lease in the event said rent or Other payment is unpaid after date due.
Appears in 1 contract
Samples: Lease Agreement (Immudyne, Inc.)
Rent. 7.1As used in this Lease, the term "Rent" shall include: (i) the ---- Base Rent; (ii) Tenant's Percentage Share of the Operating Expenses paid or incurred by Landlord during the calendar year; and (iii) all other amounts which Tenant is obligated to pay under the terms of this Lease. All amounts of money payable by Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3without prior notice or demand, each in advance deduction or offset. This Lease is intended to be a triple net lease, with all costs, expenses and charges (including the Operating Expenses) paid by Tenant. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the first day terms of each and every calendar month during any trust deed covering the Term.
7.2Premises. In addition to Base RentAccordingly, if any installment of Rent or any other sums due from Tenant shall not be received by Landlord when due, Tenant shall pay to Landlord as additional rent a late charge equal to six percent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below6%) of Operating Expenses (as defined below), (b) such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due costs Landlord will incur by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, after notice and the lapse of nor prevent Landlord from exercising any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingrights and remedies granted hereunder. In addition, any amount which is not paid when due shall bear interest from the event date due until the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be date paid at the then-current rate for such fractional month("Interest Rate") which is the lesser of fifteen percent (15%) per annum or the maximum rate permitted by law.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Samples: Sublease (Ibeam Broadcasting Corp)
Rent. 7.1a. Tenant's liability for rent shall commence to accrue on February 15, 1999. The rent to be paid by Tenant shall pay to Landlord as Base Rent shall be $6,500.00 per month for the Premisesfirst three (3) months of the term, commencing $8,500.00 per month for the next nine (9) months of the term, $9,000.00 per month for the next twenty-four (24) months of the term and $9,500.00 per month for the remaining months of the term, plus applicable sales taxes. Such rent shall be payable in advance in monthly installments on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first fifteenth day of each and every calendar month during the Termtern hereof. Landlord agrees to assign the rents and lease (which is on a month to month basis) from Shoe Warehouse effective February 15. 1999.
7.2. In addition to Base Rent, Tenant b. All payments of rent hereunder shall pay be made to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may same become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States States, at such places as hereinafter may be designated. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord and Tenant.
c. In addition to the payments required herein as rent to the Landlord, the Tenant shall also pay the following:
(1) All occupational licenses and other licenses necessary in the operation of America at the office business to be carried on in the Demised Premises.
(2) All utility services provided to the Demised Premises and used by Tenant, including, but not limited to, water, gas, electric, and telephone, as they from time to time shall accrue and be due and payable during the term of this lease.
(3) After February 15, 1999, Tenant shall pay to the appropriate governmental agencies ad valorem taxes with respect to the Demised Premises and the improvements thereon during the term of this lease or any extension thereof. It is further understood and agreed that all ad valorem taxes assessed during the term of this lease shall be prorated and that Tenant shall only be liable for such portions of such taxes assessed for said first and last years as its months of occupancy during any of said years shall bear to the total of twelve (12) months. Should Tenant fail to pay any tax when due and payable, Landlord may, if Landlord so desires, pay the same and the amount together with any penalties which Landlord may have paid, shall immediately become due and payable to Landlord as set forth additional rent, Tenant shall have the right in Section 2.8 its name or in Landlord's name, whichever shall be appropriate, but at its own cost and expense, to such other person file and prosecute applications for reduction of assessed valuation and to institute legal proceedings for the reduction thereof. In no event shall Tenant be liable for payment of any income, estate or at such other place inheritance taxes imposed upon the Landlord or the estate of the Landlord with respect to the Demised Premises. Landlord agrees to promptly deliver copies of all tax notices and tax bills to the Tenant so that Tenant may timely contest any proposed tax increase and promptly pay the tax due as Landlord may from time designate in writingto take advantage of any discounts allowed for timely payment. In the event of any special assessment with respect to the Term commences or ends on Demised Premises levied during the term of this Lease, the Tenant shall have no obligation with respect to payment of such assessment and Landlord shall be obligated to pay same. Landlord shall use reasonable efforts, if requested by Tenant, to obtain from the taxing authorities a day other than separate assessment for the first day Demised Premises if said premises are part of a calendar month, then the Rent for larger parcel. If such fraction of a month separate assessment shall be prorated for such period on obtained, the basis of the number of days in the month and real estate taxes payable by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable Tenant directly to the taxing authority. If Landlord shall be unable to obtain such separate assessment, and the tax xxxx covering the Demised Premises shall include property in addition to the Demised Premises, Tenant shall pay its proportionate share of said tax xxxx to Landlord, which proportionate share shall equal the product obtained by multiplying the amount of the tax xxxx by a fraction, the numerator of which is the acreage contained within the Demised Premises and the denominator of which is the total land owned by the Landlord and assessed in the tax xxxx. Tenant shall pay its share by the later of (bi) any other restriction on thirty (30) days after Landlord notifies Tenant of the amount thereof and furnishes Tenant with a copy of the tax xxxx and the calculations by which Tenant’s use's share has been determined, (c) any casualty or taking or (dii) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period ten (10) days prior to the due date of the expiration tax, Landlord shall pay said tax xxxx when due. In no event shall Tenant be liable for interest or earlier termination penalties, if Tenant shall pay such taxes within such period. Landlord will furnish Tenant with a copy of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodreceipted tax xxxx promptly after demand therefor.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as in advance on or before the first day of each month the Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments (as set forth in Section 2.31.8 above), subject to adjustment as hereinbefore provided, without deduction or set off, for each in advance month of the entire Lease Term, at the Landlord's address as set forth herein. Pro-rated for the current month shall be due and payable by Tenant to Landlord upon execution of this Lease, and a full monthly installment shall be due and payable without demand on or before the first day of each and every calendar month succeeding the Commencement Date during the Lease Term. Base Rent for any period of less than a full month shall be prorated, based on one thirtieth (1/30) of the current Base Rent for each day of the partial month this Lease is in effect.
7.2. 3.2 In addition to and along with the monthly installments of Base RentRent pursuant to Subsection 3.1 hereof, Tenant shall pay to Landlord an amount equal to the sum of all taxes on Rent directly or indirectly imposed by any government entity (the "Rent Tax") as additional rent (“Additional Rent”.
3.3 If any installment of the Base Rent, or any other sums owed by Tenant to Landlord under this Lease, is not received within five (5) at times hereinafter specified days after the due date thereof, more than once during each Lease Year, without implying Landlord's consent to such late payment, or if Landlord pays a sum on behalf of or for Tenant (which Landlord may do in Landlord's sole and absolute discretion), and Landlord is not repaid such sum within ten (10) days after demand therefor is made, Tenant, to the extent permitted by law, agrees to pay, in addition to said installment of the Base Rent or such other sum owed, a late payment charge equal to five (5%) percent of the Base Rent or such other sums owed; provided, however, that with regard to nonrecurring items only, Landlord has delivered to Tenant the bill therefore on or before xxx 25th of the immediately preceding month (for payments due on the first of the month) or given Tenant written notice of such charge as otherwise set forth in this Lease (a) Lease. Said late payment charge shall constitute liquidated damages and shall be for the purpose of reimbursing Landlord for additional costs and expenses which Landlord expects to incur in connection with the handling and processing of late installment payments of the Base Rent and such other sums owed by Tenant to Landlord hereunder. If there is a late payment by Tenant’s Share (, the damages resulting to Landlord will be difficult to ascertain precisely, and the foregoing charge constitutes a reasonable and good faith estimate by the parties of the extent of such damages and does not constitute interest. Notwithstanding the foregoing, such late charges shall not apply to any sums that may have been advanced by Landlord to or for the benefit of Tenant pursuant to this Lease. If any check delivered to Landlord by Tenant in payment of Base Rent or Additional Rent is not honored by the financial institution upon which such check was drawn and is returned to Landlord for any reason whatsoever, Landlord may impose, as defined in Section 9.l(c) below) Additional Rent, a returned check service charge of Operating Expenses ($15.00 or the actual charges imposed on Landlord as defined below)the result of such returned check, (b) the Property Management Fee (as defined below) whichever is greater, each time a check is not honored and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed returned to Landlord. Such returned check service charge shall be in addition to and not in lieu of any late payment charge. If any two (2) checks delivered to Landlord by Tenant during the Lease Term in payment of Base Rent or Additional Rent are not honored by the financial institution upon which such checks were drawn are returned to Landlord for any reason whatsoever, including Landlord may require, upon written notice to Tenant, that any and all subsequent payments of Base Rent or Additional Rent be made by either cash, money order or cashier's check for the balance of the Lease Term.
3.4 All sums other sums that may become due than Base Rent payable by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of Landlord under this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3shall constitute "Additional Rent". Base Rent and Additional Rent are herein referred to collectively as "Rent". All Rent due hereunder not paid by Tenant within ten (10) days after the due date thereof, shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money bear interest from the eleventh (11th) day of the United States of America month until paid in full at a rate equal to the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by lesser of: (a) any Applicable Laws now the prime interest rate in effect from day to day at Bank of America/Nations Bank of Florida, plus three (3) percentage points; or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, the maximum legal rate allowed by law (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination"Default Rate"); provided, however, that nothing with regard to nonrecurring items only, Landlord has delivered to Tenant the bill therefore on or before the 25th of the immediately preceding month (for payments due on the first of the month) or given Tenant written notice of such charge as otherwise set forth in this sentence shall in any way affect Tenant’s obligations Lease. If more than the maximum legal rate of interest should ever be collected with respect regard to any sum due hereunder, said excess amount shall be credited against future payments of Rent accruing thereafter. If no such further Rent accrues hereunder, said excess sums shall be promptly refunded by Landlord to Tenant upon demand by Tenant.
3.5 No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent shall be deemed to be other periodthan a payment on account, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction. Landlord may accept such check of payment without prejudice to Landlord's right to recover the balance or to pursue any other remedy.
Appears in 1 contract
Samples: Lease Agreement (Universal Beverages Holdings Corp)
Rent. 7.1. Tenant shall agrees to pay to Landlord Landlord, as Base Rent for the Premises, commencing on the Term Commencement Daterent and as an independent obligation, the sums set forth sum of and 00/100 Dollars ($ .00) each month during the term of this Lease, payable in Section 2.3advance, without demand, and without any setoff or deduction of any kind, on-line, in person, by mail or at such other address as Landlord may direct from time to time. Base Rent Payment of rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance due on or before the first day of each and every calendar month. Rent paid after the first day of each month during shall be deemed delinquent. If the Term.
7.2. In addition to Base Rentrent is not paid before 5:00pm on the third (3rd) day of the month, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay an administrative late charge of One Hundred and 00/100 Dollars ($100.00) and then Fifty and 00/100 Dollars ($50.00) per day that rent is delinquent thereafter. This sum shall be deemed reasonable liquidated damages for the damages Landlord will incur due to the late payment. Rent is to be paid on line using the Landlord’s portal payment system, which may be accessed at xxxx://xxx.xx/TenantPortal . Tenant further agrees that Tenant’s right to possession and of all of Landlord’s obligations under this Lease are expressly contingent upon the provisions prompt payment of rent and that all moneys received by Landlord shall be applied first to non-rent items and then to rent. If the term of this Lease that are owed to LandlordLease, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreementspossession under this Lease, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar the month, then the Rent rent for such fraction of a that month shall be prorated for such period on and paid by Tenant upon commencement of this Lease. Tenant shall make all rental payments in full. Payment or receipt of a rental payment of less than the basis of the number of days amount stated in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive be deemed nothing more than a partial payment on that month’s account. Under no circumstances shall Landlord’s acceptance of a partial payment constitute accord and satisfaction. Acceptance of partial payment will not cause a forfeiture of Landlord’s right to collect the balance due on the account despite any such expiration endorsement, stipulation, or earlier termination; providedother statement on any check. Acceptance of any payment that is less than the full amount owed under this Lease does not waive or diminish Landlord’s right of eviction, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to or any other periodcontractual or statutory right. Accepting money at any time does not waive Landlord’s right to collect late fees, damages, past or future rent or other sums due. Landlord may take whatever lawful measures necessary to collect monies owed, including monetary judgments and wage garnishments. Payments made by any means other than through Landlord’s portal, must be mailed or delivered in sufficient time that the payment will be in Landlord’s office by no later than 5:00 P.M. on the date due. If Tenant pays by check and any check is not honored when tendered for payment, Tenant agrees to pay Landlord a charge of Fifty and 00/100 Dollars ($50.00) for each check returned to Landlord, plus all applicable late payment charges, and Tenant, thereafter, shall make all payments on line or by a certified check, cashier’s check or money order.
Appears in 1 contract
Samples: Residential Lease
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant except that the first month’s rent shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) be paid upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlord, including Lease. The Monthly Installment of Rent in effect at any and all other sums that may become due by reason time shall be one-twelfth of the Annual Rent in effect at such time. Rent for any default period during the Term which is less than a full month shall be a prorated portion of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions Monthly Installment of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Rent based upon a thirty (30) day month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Landlord’s address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. In the event the Term commences Tenant therefore agrees that if rent or ends on any other sum is not paid when due and payable pursuant to this Lease, a day other than the first day of a calendar month, then the Rent for such fraction of a month late charge shall be prorated for such period on imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due. Notwithstanding the foregoing, Tenant shall be entitled, not more than once per calendar year, to a notice of non-payment and a five-day grace period thereafter before a late charge may be assessed.
Appears in 1 contract
Samples: Lease Agreement (PBSJ Corp /Fl/)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America except as expressly provided herein, at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of the number of days in the month which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be paid at imposed in an amount equal to the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by greater of: (a) any Applicable Laws now Fifty Dollars ($50.00), or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, six percent (c6%) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration unpaid rent or earlier termination of the Term or this Lease shall survive any such expiration or earlier terminationother payment; provided, however, that nothing the foregoing late charge shall not apply to the first such late payment in any twelve (12) month period of the Term of this sentence Lease or any extension thereto until following written notice to Tenant and the expiration of five (5) days thereafter without cure. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect TenantLandlord’s obligations remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Notwithstanding anything in this Lease to the contrary, so long as Tenant is not in default under this Lease, Tenant shall be entitled to an abatement of Monthly Installment of Rent with respect to the Premises, as originally described in this Lease, in the amount of $101,138.40 (the “Abated Monthly Installment of Rent”) for the first three (3) full calendar months of the Term (the “Abated Rent Period”). If Tenant defaults under this Lease at any time during the Abated Rent Period and fails to cure such default within any applicable cure period under this Lease, then all Abated Monthly Installment of Rent shall immediately become due and payable. Only Monthly Installment of Rent shall be abated pursuant to this Section, as more particularly described herein, and Tenant’s Proportionate Share of Expenses and Taxes all other periodrent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the provisions of this Lease.
Appears in 1 contract
Rent. 7.1. Tenant shall covenants and agrees to pay to unto Landlord the base net rentals in accordance with Exhibit C attached hereto and made a part hereof commencing as Base Rent for of the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance date hereof and on the first day of each and every calendar month during hereafter, in advance, through the Term.
7.2. In addition to Base Rententire term of this Lease, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified together with such increase of said annual and monthly fixed net rent, in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under accordance with the provisions of this Lease that are owed as hereinafter provided. If Landlord so requires, Tenant shall make all or part of the rental payments directly to Landlord's lender provided Tenant receives written notice from Landlord directing Tenant to make such payments to lender. All rent (including all sums payable as rent in accordance with the preceding paragraph and as hereinafter provided) shall be construed in every instance as an absolute net rent payable by Tenant to Landlord. This Lease is an absolute net lease, including and the annual rent and all other sums payable hereunder to or on behalf of Landlord shall be paid without notice or demand and without setoff, counterclaim, abatement, suspension, deduction, or defense. It is the express intent of the parties hereto that the annual rent provided to be paid by Tenant to Landlord under the terms of Article 3 hereof shall be an absolute net rent payable to Landlord and that Tenant shall, in any or all events and at its sole cost and expense and in addition to the said monthly rental, pay any and all other sums that may become due by reason items of any default of Tenant or failure on Tenant’s part to comply expense in connection with the agreementsPremises of whatever nature, terms, covenants including but not limited to all taxes and conditions of this Lease to be performed assessments imposed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends governmental authority on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights the building now or hereafter existing to terminate thereon or cancel this Lease or quit or surrender attached thereto, the Premises or any part contents thereof, or to xxxxx rent. Tenant’s obligation to pay Rent and the use thereof, together with respect to any period or obligations arising, existing or pertaining to the period prior to the date procurement and maintenance by Tenant of the expiration or earlier termination insurance hereinafter specified. This Lease shall always be construed in order to effectuate the foregoing declared intent of the Term parties hereto. If Tenant or this Lease Landlord shall survive any such expiration or earlier termination; providedso require, howeverLandlord and Tenant shall enter into a memorandum of lease, that nothing which shall be recorded in this sentence shall the appropriate land records in any way affect Tenant’s obligations with respect order to any other perioddocument the terms and conditions hereof.
Appears in 1 contract
Samples: Lease Agreement (Mony Group Inc)
Rent. 7.1. Tenant shall pay Landlord, as minimum monthly rent (sometimes referred to Landlord as Base Rent for the Premises, commencing on “Rent"') the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day sum of each and every calendar $50,000 per month during the Term.
7.2. In addition to Base Rentfirst Lease Year, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional which Rent shall together be denominated “Rent.” increase by three percent (3%) each Lease Year over the previous Lease Year. Rent shall be paid to Landlord, without abatement, deduction Landlord in advance of or offset, in lawful money of on the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first first day of a calendar each month and the first and last month, then the Rent for such fraction of a month ’s rent shall be prorated for such period if the Rent does not commence on the basis first of the number of days in the month and month. If Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of holdover past the expiration or earlier termination of the Term or this Lease. this Lease shall survive any such be on a month-to-month tenancy, and Tenant shall pay one hundred twenty percent (120%) of the monthly rent rate in effect at the expiration of the last Lease Year, and the other terms of this Lease shall apply to said tenancy, so far as applicable. Landlord will provide Tenant with Landlord's account information and Tenant agrees to make payments electronically or earlier termination; provided, however, that nothing as otherwise required by Landlord. Notwithstanding anything in this sentence Lease to the contrary. $30.000 per month of the Rent hereunder shall abated during the period under which the Tenant is completing their improvements or waiting for all government and municipal permits and licenses to operate a detoxification facility in this location (the "Occupancy Date”. If Tenant is unable to obtain these permits and licenses or determines that it is doubtful they will be issued within six (6) months of the Commencement Date, Tenant can elect to cancel and terminate this lease and all provisions therein given a thirty (30) day written notice. Further, Tenant and Landlord agree to share equally in any way affect Tenant’s obligations cost incurred in conjunction with respect obtaining the zoning variance and/or rezoning required to any other periodoperate the facility from the Effective Date, up to a total cost of $40,000. 5.
Appears in 1 contract
Samples: Commercial Lease (Upd Holding Corp.)
Rent. 7.1All obligations of Tenant to make payments to Landlord under this Lease shall constitute Rent. Tenant shall pay to Landlord as the Rent at the times and in the manner hereinafter set forth. Base Rent for the PremisesLeased Premises and Tenant’s Proportionate Share of Estimated Operating Cost and Impositions for Space A, Space B, Space C, and the Utility Shaft Space shall be paid commencing on the Term Commencement Date. Tenant shall have no obligation to pay Operating Cost or Impositions for the Basement Storage Space, the sums set forth in Section 2.3Penthouse Storage Space, or the Rooftop Satellite Dish Space. Commencing on the Term Commencement Date, Tenant shall pay the Base Rent shall be paid in twelve (12) equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during each year of the Term.
7.2Term including any extension thereof, in advance. In addition to Together with each installment of Base Rent, Tenant shall pay to Landlord as additional rent one-twelfth (“Additional Rent”1/12th) at times hereinafter specified in this Lease (a) of Tenant’s Proportionate Share of Estimated Operating Cost for the then current year and one-twelfth (as defined in Section 9.l(c) below1/12th) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with Proportionate Share of Estimated Impositions for the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3then current year. Base Rent and Additional Rent shall together be denominated “Rent.” All Gross Rent shall be paid to Landlordwithout demand and (except as expressly provided in this Lease) without any reduction, without abatement, deduction counterclaim or offsetsetoff, in lawful money of the United States of America at the office of address for Landlord as set forth in Section 2.8 or to such other person specified on the Basic Lease Information sheet or at such other place address as may be designated by Landlord may from time designate in writingto time. In the event If the Term commences or ends on a day other than the first day of a calendar month, or if the Term terminates on a day other than the last day of a calendar month, then the Gross Rent provided for such fraction of a partial month shall be equitably prorated for on such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration commencement or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Rent. 7.1. a. Tenant shall pay to Landlord as each monthly installment of Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first calendar day of each and every calendar month during month. During the Term.
7.2. In addition to Base RentYear, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share no Excess Operating Costs (as defined in Section 9.l(c) 3.3 below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlordby Tenant. For each calendar year following the Base Year, without abatement, deduction or offset, Tenant shall pay each monthly installment of Tenant's Pro Rata Share of Excess Operating Costs in lawful money advance together with each monthly installment of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingBase Rent. In the event the Term commences or ends on a day other than the first day of a Monthly installments for any fractional calendar month, then at the Rent for such fraction beginning or end of a month the Lease Term, shall be prorated for such period based on the basis of the number of days in the month such month. Base Rent, together with all other amounts payable by Tenant to Landlord under this Lease, including, without limitation, any late charges and interest due Landlord for Rent not paid when due, shall be sometimes referred to collectively as "RENT". Tenant shall pay all Rent, without deduction or set-off, to Landlord or Managing Agent at a place specified by Landlord. Rent not paid when due shall bear interest until paid, at the then-current rate of two percent (2%) per month, or at the maximum rate allowed by law, whichever is less, from the date when due. Tenant shall also pay a processing charge of Fifty Dollars ($50.00) with each late payment of Rent. Landlord agrees to waive the processing and interest charge for late payments of Rent once during any calendar year during the Lease Term, provided any such fractional monthlate Rent payment is paid in full within ten (10) days of the date when due. Nothing contained in this paragraph shall be deemed to prohibit Tenant from being able to credit excess Allowance (as defined in SCHEDULE 6) to Base Rent due hereunder to the extent permitted under Paragraph 3.05 of SCHEDULE 6.
7.4. Except as expressly provided b. Notwithstanding anything to the contrary contained herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or Landlord agrees to xxxxx rent. Tenant’s obligation to pay Base Rent with respect to any period or obligations arising, existing or pertaining to for (i) the period prior to the date first three (3) months and eighteen (18) days of the expiration or earlier termination first year of the Term or this Lease shall survive any such expiration or earlier termination; providedTerm, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodand (ii) the first month of the second year of the Lease Term.
Appears in 1 contract
Samples: Lease Agreement (Pc Tel Inc)
Rent. 7.14.01. Tenant shall pay to Landlord as Base Rent for in lawful money of the PremisesUnited States of America, commencing on the Term Commencement Datewithout any setoff or deduction, the sums unless expressly set forth in Section 2.3this Lease, all Base Rent and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be paid in equal monthly installments as set forth in Section 2.3, each due and payable in advance on the first day of each and every calendar month during without notice or demand. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. All payments of Rent shall be made by electronic money transfer in accordance with Landlord’s written instructions regarding the Term.
7.2same or by such other means or method of payment as Landlord may direct in writing. In addition Unless otherwise notified in writing by Landlord, all payments of Rent shall be made by ACH transfer to Base RentLandlord in accordance with the following: Bank: PNC Bank, Bank Address: 000 Xxxxx Xxxxxx, Xxxxxxxxxx, XX 00000, Account Name: Equity Commonwealth, ABA Routing #: 000000000, Account#: 8026300702, Reference: CBRE 604274. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of five percent (5%) of the past due Rent, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 4 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate (the “Interest Rate”) per annum equal to the lesser of (i) the maximum legal rate permitted by applicable Laws, and (ii) 4 percentage points above the rate of interest then most recently publicly announced by a federally insured bank selected by Landlord as additional rent its “prime rate” or “base rate” (the “Additional RentPrime Rate”) until paid in full, including after the entry of any judgment. If accrual or payment of interest at times hereinafter specified in this Lease (a) the Interest Rate should be unlawful, then the Interest Rate shall be the maximum legal rate. Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s Share (as defined in Section 9.l(c) below) bank for any reason. Landlord’s acceptance of Operating Expenses (as defined below), (b) less than the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions correct amount of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money considered a payment on account of the United States oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant and acceptance of America at any such partial payment shall not be deemed a waiver of Landlord’s right to the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingfull amount due. In the event Rent for any partial month during the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period based on the basis of the number of days in the month and such month. No endorsement or statement on a check or letter accompanying payment shall be paid at the then-current rate for such fractional month.
7.4considered an accord and satisfaction. Except as expressly provided herein, Tenant’s obligation covenant to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any is independent of every other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing covenant in this sentence shall in any way affect Tenant’s obligations with respect to any other periodLease.
Appears in 1 contract
Samples: Office Lease Agreement (Baxalta Inc)
Rent. 7.1. A. Tenant shall pay Base Rent to Landlord as Base Rent for in the Premises, commencing on the Term Commencement Date, the sums set forth manner provided in Section 2.3. Base Rent shall be paid 5.B in equal consecutive monthly installments as set forth in Section 2.3, each in advance on or before the first 1st day of each and every calendar month during commencing as of the Commencement Date and continuing through the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event If the Term commences or ends on a day other than the first day of a calendar month, then or ends on a day other than the last day of a calendar month, Base Rent for such fraction of a month shall be prorated for by multiplying such period on Base Rent by a fraction, the basis numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5.A, on the Commencement Date in connection with Landlord’s acquisition of the Premises pursuant to the Purchase Agreement.
B. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all other amounts, sums, charges, liabilities and obligations which Tenant assumes or agrees to pay or may become liable for under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the month event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
C. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (5) days of the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) seven percent (7%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (including economic losses) that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent (including the amount of any Late Charge) due to Landlord shall accrue interest at the then-current rate Default Rate from the date on which such Rent was due up to the date that such Rent is paid. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall be responsible for such fractional monthpayment of all interest, late charges, and other actual costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the responsibility of Tenant hereunder.
7.4. Except as expressly provided hereinD. For any non-scheduled payment of Rent hereunder that is payable by Tenant on demand by Landlord, such shall be due ten (10) days following written demand therefor by Landlord, without abatement, deduction, or setoff under any circumstances.
E. Upon the Commencement Date, Tenant shall deposit with Landlord an amount equal to fourteen million three hundred seventy-nine thousand four hundred fifty-six and 40/100 Dollars ($14,379,456.40) (the “Security Deposit”) to secure Tenant’s obligation obligations under this Lease. Upon the earlier of the fifth (5th) anniversary of the Commencement Date and the termination of this Lease, the Security Deposit shall be returned to pay Rent shall not be discharged or otherwise affected by Tenant, less (ai) any Applicable Laws now or hereafter applicable amounts required to repair any damages to the Premises, subject to normal wear and tear; and (bii) any other restriction on unpaid and outstanding monetary obligations of Tenant under this Lease. Upon a monetary Event of Default and Tenant’s usefailure to cure same following expiration of the applicable notice and cure period, (c) Landlord may use the Security Deposit to satisfy any casualty or taking or (d) any other occurrence; such unpaid monetary obligation of Tenant, and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part shall, within five (5) Business Days following written notice from Landlord thereof, or deposit with Landlord an amount sufficient to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining replenish the Security Deposit to the period prior to the date same amount as of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier terminationCommencement Date; provided, however, that nothing if the Security Deposit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Security Deposit in accordance with this sentence Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Tenant shall be permitted to deposit an irrevocable standby letter of credit in any way affect form and substance reasonably acceptable to Landlord (“Letter of Credit”) as the Security Deposit. Upon a monetary Event of Default and Tenant’s failure to cure same following expiration of the applicable notice and cure period, Landlord may draw on such Letter of Credit to satisfy any such unpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord a replacement Letter of Credit sufficient to replenish the Security Deposit to its original amount; provided, however, if the Letter of Credit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Letter of Credit in accordance with this Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Any Letter of Credit posted by Tenant pursuant to this Lease shall be issued (the following collectively, the “LC Issuer Requirements”): (a) by a commercial bank with a net worth of at least Ten Billion Dollars ($ 10,000,000,000), (b) that is chartered under the laws of the United States, any State thereof or the District of Columbia, and which is insured by the Federal Deposit Insurance Corporation, (c) whose long-term, unsecured and unsubordinated debt obligations are rated in the highest category by at least two of Fitch Ratings Ltd. (Fitch), Xxxxx’x Investors Service, Inc. (Moody’s) and Standard & Poor’s Ratings Services (S&P) (the “Rating Agencies”) or their respective successors (which shall mean A-from Fitch, A3 from Moody’s and A-from Standard & Poor’s), (d) which has a short term deposit rating in the highest category from at least two Rating Agencies (which shall mean F2 from Fitch, P-2 from Moody’s and A-2 from S&P), and (e) which is not insolvent and is not placed into receivership or conservatorship by the Federal Deposit Insurance Corporation, or any successor or similar entity, and for which no trustee, receiver or liquidator is appointed. If at any time following the delivery of the Letter of Credit by Tenant pursuant to this Section 5.E the LC Issuer Requirements are not satisfied, then Tenant shall, no later than ten (10) business days after the earlier of (i) Tenant acquiring knowledge that the LC Issuer Requirements are not satisfied and (ii) receipt of written notice thereof, deliver to Landlord either a replacement Letter of Credit which meets the LC Issuer Requirements or cash in the amount of the Security Deposit. If Tenant fails to deliver a replacement Letter of Credit from an institution that satisfies the LC Issuer Requirements or such cash Security Deposit to Landlord within such ten (10) business day period, Landlord, at its option, upon the delivery of written notice to Tenant may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. It is Tenant’s responsibility to maintain and renew the Letter of Credit such that it is in effect at all times until the return of the Letter of Credit to Tenant in accordance herewith. Tenant shall renew such Letter of Credit no later than thirty (30) days prior to any expiration date thereof or replace such Letter of Credit with a replacement Letter of Credit which otherwise meets the LC Issuer Requirements or with a cash Security Deposit. If Tenant has not renewed the Letter of Credit (and delivered the original of such renewal documentation to Landlord) or delivered a satisfactory replacement Letter of Credit or cash Security Deposit to Landlord at least thirty (30) days prior to the expiration date of the Letter of Credit, Landlord, at its option, may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. Notwithstanding anything to the contrary contained herein, until the Lease is severed in accordance with Section 45, in the event Tenant believes in good faith that Tenant is entitled to receive insurance proceeds in accordance with Section 18 or condemnation proceeds in accordance with Section 19 and Landlord refuses, in violation of the terms hereof, to make such proceeds available to Tenant with respect to a Site, Tenant shall have the right to withhold Base Rent in an amount up to the Allocated Base Rent applicable to such Site until such dispute is resolved (and Landlord shall not have the right to draw against either the Security Deposit or Letter of Credit with respect to the Base Rent so withheld); provided that, (i) Tenant shall not be entitled to withhold Base Rent pursuant to the foregoing for more than five (5) Sites at any given time, (ii) Tenant shall only be entitled to withhold Base Rent in an aggregate amount with respect to any such Site not to exceed the amount of proceeds in dispute with respect to such Site, (iii) upon resolution of such dispute Tenant shall pay to Landlord the amount of Base Rent withheld in accordance with this paragraph plus, if Tenant was not entitled to such proceeds, interest thereon calculated at the Default Rate, and (iv) the foregoing shall not (A) restrict Landlord’s right to draw against either the Security Deposit or Letter of Credit with respect to (x) any amount of Base Rent that Tenant fails to pay in excess of such disputed insurance proceeds or otherwise fails to pay other periodthan in accordance with the foregoing or (y) any other monetary Event of Default or (B) grant or imply any right to Tenant to withhold any Rent due hereunder for any other reason (and any such withholding or failure to pay Rent when due shall be an Event of Default in accordance with the terms and provisions hereof).
Appears in 1 contract
Samples: Master Lease Agreement (Cracker Barrel Old Country Store, Inc)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as the Base Rent for the Premises, commencing as stated on the Term Commencement Date, the sums set forth in Section 2.3Lease Cover Page. Tenant will be liable for Base Rent shall upon the date on which possession of the Premises is delivered to Tenant.
3.2 All monies payable by Tenant to Landlord under this Lease will be considered rent. The monthly rent will be paid in equal monthly installments as set forth in Section 2.3, each to Landlord in advance on the first day of each and every calendar month during the Term.
7.2entire term of this Lease, without deduction or set-off. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) Should the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees obligation to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends rent commence on a day other than the first day of a calendar month or terminate on a day other than the last day of a month, then the Rent for such fraction of a month shall all rent will be prorated for such period based on the basis of the number of days in the calendar month and shall be paid involved. If Tenant fails to pay any rent or other sums when due, such unpaid amounts will bear interest at the then-current lesser of the highest rate for such fractional monthpermitted by law or fifteen percent (15%) per annum.
7.4. Except as expressly provided herein3.3 Tenant hereby grants to Landlord a continuing security interest in all assets (the "Collateral") now owned and hereafter acquired by Tenant and located, Tenant’s obligation to pay Rent shall not be discharged at any time, on the Premises or otherwise affected by (a) any Applicable Laws now or hereafter applicable to derived from the Premises, (b) including all now owned and hereafter acquired inventory, equipment, furniture, fixtures, accounts, contract rights, general tangibles, and all proceeds, products, replacements and substitutions thereof. Tenant authorizes Landlord to file a Financing Statement(s). Upon the occurrence of an event of default, Landlord may exercise any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender and remedies provided under the Uniform Commercial Code, including taking possession of the Collateral (whether through changing the locks on the Premises or otherwise). Tenant agrees that reasonable notice of any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date sale of the expiration Collateral shall be sufficient if made by mail, by posting, personal delivery or earlier termination of the Term or this Lease shall survive in any other manner in Landlord's sole discretion at least seven (7) days before any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodsale.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. Tenant shall Xxxxxx agrees to pay to Landlord as Base Greater Of Rent, Parking Rent for the Premises, commencing on the Term Commencement Date, the and Additional Rent (collectively “Rent”) in accordance with this Article 5. All payments of Rent and other sums set forth in Section 2.3. Base Rent due to Landlord hereunder shall be paid in equal monthly installments legal tender of the United States, without notice, invoice, setoff, deduction or demand, except as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2otherwise expressly provided herein. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due No payment by reason of any default of Tenant or failure on Tenant’s part to comply with receipt or acceptance by Landlord of a lesser amount than the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid deemed to be a waiver of any current or preceding breach by Tenant of any provision hereof. No endorsement or statement on any check or any letter accompanying any check or payment as Rent shall be deemed an accord and satisfaction, and Landlord has the right to accept such check or payment without prejudice to Landlord, without abatement, deduction ’s right to recover the balance of such Rent or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) pursue any other restriction on Tenant’s useremedy in accordance with this Lease, (c) any casualty at law or taking or (d) any other occurrence; and in equity. Tenant waives all rights now that it may have under present or hereafter existing future law to terminate designate the items of Rent to which any payments made by Tenant are to be credited. Xxxxxx agrees that Landlord may apply any payments made by Tenant to such items of Rent as Landlord designates, irrespective of any designation or cancel this Lease request by Xxxxxx as to the items of Rent to which such payments should be credited. All payments of Rent shall be delivered to and statements required under Section 5.4.3 below, shall be filed with Xxxxxxxx’s Treasurer. Payments of Rent shall be made by check, electronic wire transfer or quit or surrender automated clearing house (“ACH”) transfer. Checks shall be made payable to the Premises or any part thereofSan Diego Unified Port District and mailed to the San Diego Unified Port District, Finance Department, Post Office Box 120488, San Diego, California 92112-0488, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining delivered to the period prior San Diego Unified Port District, Finance Department, 0000 Xxxxxxx Xxxxxxx, Xxx Xxxxx, Xxxxxxxxxx 00000. All payments of Rent by electronic wire transfer or ACH transfer shall be directed to (or such other location as Landlord may instruct by notice from time to time): Beneficiary Bank: Xxxxx Fargo Bank, N.A. Bank Location: 420 Montgomery, MAC: A0112-102 San Francisco, CA 94104 ACH/Wire Routing Number: 000000000 Beneficiary: San Diego Unified Port District Beneficiary Account Number: 4944-983881 Type of Account: Deposit Reference Description of payment Required: Customer number and/or invoice(s) numbers Landlord has the date right to change the designated place of the expiration payment or earlier termination of the Term or this Lease shall survive filing at any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.time upon ten
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. Tenant Tenant, in return for the use and occupancy of the Leased Premises and in consideration of the terms, conditions, covenants and provisions contained herein, shall pay to Landlord as Base Rent the total rent owed for the PremisesTerm of $_______ payable in 12 equal installments (each an “Installment”) of $ , commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent which shall be paid in advance, without notice, demand, offset or reduction (the "Rent"). While Landlord has no obligation to do so and may refuse to do so, Landlord may accept partial payment of Tenant’s Rent or other payment obligations, but if it so elects, Landlord does not waive its right to collect and demand the payment of the remainder of such obligations or enforce Tenant’s default hereunder due to failure to pay such amounts in full. Tenant hereby acknowledges that the Term of this Lease is less than a full calendar year, and the Rent has been allocated into 12 equal monthly installments as set forth in Section 2.3and is not based on a daily or calendar month basis. The first installment of Rent shall be due on August 1, 2016 and each in advance subsequent installment shall be due and payable on the first day of each and every calendar month during the Term.
7.2month. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) The last installment of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to due on July 1, 2017. All payments must be made via the internet through Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as ’s Resident Portal. Tenant and any Guarantor acknowledge and understand Landlord may from time designate in writingrefuse other forms of payment, subject to Prevailing Law. In Tenant and Guarantor acknowledge Landlord will not waive late fees for any payments due to failure of such parties understanding how to submit payments through the event Resident Portal and therefore Tenant and Guarantor are encouraged to be familiar with the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period Resident Portal prior to the date of the expiration or earlier termination of first Rent payment is due. If Rent is not timely paid, Landlord reserves the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect right to any other periodrequire Tenant to pay all Rent and late fees by certified funds through the Resident Portal.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. Tenant shall pay to Landlord during the term of this Lease rent in the amount of $24.29 per square foot per year, payable monthly in advance and without notice or demand therefor on or before the 1st day of each month during the term of this Lease. All rent hereunder shall be payable at the address of Landlord specified in the paragraph herein entitled "NOTICE" or at such other place as Base Rent for Landlord from time to time may designate. In the Premises, commencing on event that the Term Premises shall be occupied by Tenant prior to the Commencement Date, Tenant shall pay to Landlord rent as provided above on a pro-rated basis based upon the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day number of each and every calendar month during the Term.
7.2days so occupied by Tenant. In addition to the foregoing rent, which shall hereinafter be referred to as the "Base Rent", Tenant shall pay to Landlord as additional rent an amount equivalent to six percent (“Additional Rent”6%) at times hereinafter specified in this Lease (a) of the Tenant’s Share 's annual gross sales (as defined "gross sales" are hereinafter defined) in Section 9.l(c) below) excess of Operating Expenses (as defined below)$1.8 million, (b) per year in, on or from the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Leased Premises. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said additional rent hereunder shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period computed on the basis of the number each calendar year, any portion of days in the month a calendar year to be pro rated on a monthly basis, and shall be due and payable, without notice or demand therefor, sixty (60) days following the end of each such year during the initial term of this Lease and any extension thereof. Tenants shall keep complete and proper books, records, and accounts of the gross sales (as such term is used herein), both for cash and on credit for each separate department and concession at any time operated in or on the Leased Premises, such books, records, and accounts including any sales tax reports that Tenant may be required to furnish to any government or governmental agency, at all reasonable times to be open to the inspection of the Landlord, Landlord's auditor or other authorized representative or agent. Within sixty (60) days after the end of each calendar year during the term of this Lease, the first of which ends the 31st day of December, 1997, Tenant shall furnish to Landlord a statement to be certified as correct by Tenant or an employee or agent of Tenant authorized so to certify, which shall set forth the gross sales of each department and concession operating in or on the Leased Premises for the year just concluded, and the authorized deductions, if any, therefrom and with each statement Tenant shall pay to Landlord the amount of the percentage rental which is payable by Tenant as shown thereby. If Tenant shall at any time cause an audit of Tenant's business relative to the Leased Premises to be made by a certified public accountant, Tenant shall furnish Landlord with a copy of such audit without any cost to Landlord. Landlord, not more often than once in any calendar year, shall have the right to cause an audit of the business of Tenant to be made by a certified public accountant of Landlord's own selection; and if the statements of gross sales previously made by Tenant to Landlord shall be found to be more than three percent (3%) less than the amount of Tenant's gross sales shown by such audit, Tenant immediately shall pay the cost of such audit as well as the additional rental therein shown to be payable by Tenant to Landlord; otherwise, the cost of such audit shall be paid at by Landlord. Tenant will be furnished with a copy of any such annual audit which Landlord may cause to be made. The acceptance by Landlord of any money paid to Landlord by Tenant as percentage rent hereunder for the then-current rate for such fractional month.
7.4. Except Lease Premises as expressly provided herein, Tenant’s obligation to pay Rent shown by any statement furnished by Tenant shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to an admission of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereofaccuracy of such statement, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination sufficiency of the Term or this Lease amount of such rent payment, but Landlord shall survive be entitled to question the sufficiency of the amount of any such expiration rental payment or earlier termination; providedthe accuracy of the statement or statements furnished by Tenant to justify the same any time within three (3) years after receipt of such rental payment. For the purpose of enabling Landlord to check the accuracy of any such statement or statements, howeverand the sufficiency of any rental payments made in accordance therewith, that nothing in this sentence Tenant shall for such period of three (3) years after submission to Landlord of any such statement keep safe and intact all of Tenant's records, books, accounts, and other data which in any way affect bear on or are required to establish in detail Tenant’s obligations with respect 's gross sales and any authorized deductions therefrom as shown by any such statement, and shall on request make the same available to Landlord, Landlord's auditor, representative or agent for examination at any time during such three (3) year period. Percentage payment of Tenant's gross sales to Landlord shall be deemed and considered as a rental cost for the Leased premises, and it is expressly understood by the parties hereto that this provision is strict rental only, and shall in no way be considered or construed as creating the legal relationship of a partnership, as provided by North Carolina General Statute Section 59-37(4)(b), or any other periodrelationship other than landlord and tenant, and it is further expressly understood that Landlord is in no way responsible for any losses which Tenant may sustain at any time.
Appears in 1 contract
Rent. 7.1. Tenant shall pay to Landlord 4.1 Except as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth otherwise expressly provided in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rentthis Lease, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatementnotice, deduction demand, offset or offsetdeduction, in lawful money Money of the United States of America America, at the office of Landlord as set forth Landlord’s Address for Payment specified in Section 2.8 or to such other person 1.1.U above, or at such other place as Landlord may from time shall designate in writingwriting time to time: (a) the Base Rent in equal monthly installments, in advance, on the first day of each calendar month during the Term, and (b) the Additional Rent, at the respective times required hereunder. In The first monthly installment of Base Rent shall be paid in advance on the event date of Frame Completion (as defined in Section 3.8.F(ii) above and applied to the Term commences first installment of Base Rent coming due under this Lease. Tenant’s obligation to pay Rent shall begin on the Commencement Date; provided, however, that, if either the Commencement Date or ends the Expiration Date falls on a day date other than the first day of a calendar month, then the Rent due for such fraction of a fractional month shall be prorated on a per diem basis between Landlord and Tenant so as to charge Tenant only for the portion of such period on fractional month falling within the basis Term.
4.2 All past due installments of Rent owing by Tenant to Landlord not paid within five (5) Business Days after notice that such amount is past due shall be subject to a late charge of four percent (4%) of the number amount of days in the month late payment and shall be further bear interest until paid at a rate per annum (the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation “Interest Rate”) equal to pay Rent shall not be discharged or otherwise affected the greater of (i) twelve percent (12%) by (aii) any Applicable Laws now or hereafter applicable three percent (3%) above the prime rate of interest from time to the Premisestime publicly announced by Bank of America, (b) any other restriction on Tenant’s usea national banking association, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part successor thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that, if at the time such interest is sought to be imposed the rate of interest exceeds the maximum rate permitted under federal law or under the laws of the State of California, the rate of interest on such past due installments of Rent shall be the maximum rate of interest then permitted by applicable law. All amounts owing by Landlord to Tenant and not paid within ten (10) Business Days after written notice that nothing in this sentence such amount is past due shall in any way affect Tenant’s obligations with respect to any other periodbear interest at the Interest Rate.
Appears in 1 contract
Samples: Sublease (Celladon Corp)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional be one-twelfth of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon a thirty (30) day month. Said rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Landlord’s address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing. In SEE “ARTICLE 39” If the event the Term commences or ends Commencement Date occurs on a day date other than the first day Scheduled Commencement Date set forth on the Reference Page, all of a calendar month, then the Rent for such fraction of a month dates in the foregoing table shall be prorated for such period on adjusted accordingly.
3.3 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive monthly period until paid. The provisions of this Section 3.3 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.3 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Manchester Mall Inc)
Rent. 7.1. Tenant shall agrees to pay to Landlord as at the office specified in Section 1.1(2), or to such other persons or at such other places designated by Landlord, without any prior demand therefor in immediately available funds and without any deduction whatsoever, Rent, including, without limitation, Monthly Base Rent for and Rent Adjustments in accordance with Article Four, during the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3Term. Monthly Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during of the Term, except that the first installment of Monthly Base Rent shall be paid by Tenant to Landlord on the Commencement Date, notwithstanding the fact that Tenant may not be in possession of the Premises on the Commencement Date; see Section 1 of the Rider. Monthly Base Rent shall be prorated for partial months within the Term. Unpaid Rent shall bear interest at the Default Rate from the date due until paid as provided in Section 26.1. Tenant's covenant to pay Rent shall be independent of every other covenant in this Lease. If any governmental entity or authority has imposed or hereafter imposes upon Landlord or Tenant a tax or assessment upon or against any of the gross Rent or other charges payable by Tenant to Landlord under the Lease (whether such tax takes the form of a lease tax, sales tax or other tax), Tenant shall be responsible for the timely payment thereof.
7.2. In addition Unless Landlord and Tenant otherwise agree in writing with respect to Base Rentthe payment thereof, Tenant shall pay the applicable tax to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) together with each payment by Tenant to Landlord of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay Monthly Base Rent due under the provisions of this Lease that are owed to LandlordLease. Notwithstanding the foregoing, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s have no obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable income tax levied against Landlord, except to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender extent the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent same is levied specifically with respect to any period gross rent or obligations arising, existing or pertaining other charges payable by Tenant to the period prior to the date of the expiration or earlier termination of the Term or Landlord under this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodLease.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that rent for the first full month for which rent is payable hereunder shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within five (5) days after such period on rent or other sum becomes due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Lmi Aerospace Inc)
Rent. 7.1. A. Tenant shall pay Base Rent to Landlord as Base Rent for in the Premises, commencing on the Term Commencement Date, the sums set forth manner provided in Section 2.3. Base Rent shall be paid 5.B in equal consecutive monthly installments as set forth in Section 2.3, each in advance on or before the first 1st day of each and every calendar month during commencing as of the Commencement Date and continuing through the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event If the Term commences or ends on a day other than the first day of a calendar month, then or ends on a day other than the last day of a calendar month, Base Rent for such fraction of a month shall be prorated for by multiplying such period on Base Rent by a fraction, the basis numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5.A, on the Commencement Date in connection with Landlord’s acquisition of the Premises pursuant to the Purchase Agreement.
B. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all other amounts, sums, charges, liabilities and obligations which Tenant assumes or agrees to pay or may become liable for under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the month event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
C. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (5) days of the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) seven percent (7%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (including economic losses) that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent (including the amount of any Late Charge) due to Landlord shall accrue interest at the then-current rate for Default Rate from the date on which such fractional month.
7.4Rent was due up to the date that such Rent is paid. Except as expressly provided herein, Tenant’s obligation to pay Rent The payment of such late charge or such interest shall not be discharged constitute waiver of, nor excuse or otherwise affected by (a) cure, any Applicable Laws now or hereafter applicable to the Premisesdefault under this Lease, (b) nor prevent Landlord from exercising any other restriction on Tenant’s userights and remedies available to Landlord. Without limitation of the foregoing, (c) any casualty or taking or (d) any Tenant shall be responsible for payment of all interest, late charges, and other occurrence; actual costs and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the responsibility of Tenant hereunder.
D. For any period non-scheduled payment of Rent hereunder that is payable by Tenant on demand by Landlord, such shall be due ten (10) days following written demand therefor by Landlord, without abatement, deduction, or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive setoff under any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodcircumstances.
Appears in 1 contract
Samples: Master Lease Agreement (Cracker Barrel Old Country Store, Inc)
Rent. 7.1Section 4.01. Tenant shall agrees to pay to Landlord as Base Rent for the PremisesFixed Rent, commencing on the Term Commencement Datewithout notice or demand, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth installments, in Section 2.3advance, each in advance on or before the first day of each and every successive calendar month during the TermTerm hereof, except the first month’s Fixed Rent shall be paid upon the execution of this Lease. The Fixed Rent shall commence on the Rent Commencement Date. The Fixed Rent for any period which is for less than a full month shall be a prorated portion of the Fixed Rent based on a thirty (30) day month.
7.2Section 4.02. In addition The Fixed Rent shall be paid to Base RentLandlord by Tenant, without deduction, counterclaim or setoff, except as expressly provided herein, and at Landlord’s address or at such place as Landlord may from time to time designate in writing.
Section 4.03. If any payment of Rent is not received by Landlord within five (5) business days of the date when due, Tenant shall pay to Landlord on demand as a late charge, interest on the overdue Rent at the lesser of the maximum rate permitted by law or eighteen (18%) percent per anum from the due date. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the overdue amount, or prevent Landlord from exercising any of the other rights and remedies available to Landlord.
Section 4.04. No abatement, diminution or reduction of the Basic Rent, or any additional rent (“Additional Rent”) at times hereinafter specified in or other charges required to be paid by Tenant pursuant to the terms of this Lease, shall be claimed by, or allowed to, Tenant for any inconvenience, interruption, cessation or loss of business or otherwise, caused directly or indirectly by any present or future laws, ordinances, order, rules, regulations or requirements of any Federal, State, County or Municipal governments, or by priorities, rationing or curtailment of labor or material, or by war, civil commotion strikes or riots, or any matter or thing resulting there from or by any other cause or causes beyond the control of Landlord, including, without limitations, casualty to the Demised Premises, nor shall this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below)any way be affected by any such causes, (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodLease.
Appears in 1 contract
Rent. 7.1. A. Tenant shall pay to Landlord as during the Lease Term annual rent in monthly installments (hereinafter "Base Rent"). During Years 1 through 5 of this Lease the Base Rent for Suite 101 shall be thirteen thousand five hundred dollars per month ($13,500.00). Inclusive in these monthly payments are the Premisescost of the initial improvements to Suite 101 amortized over five (5) years.
B. On or before July 1, commencing on 2018 Xxxxxx agrees to pay to Landlord a twenty-four thousand dollar ($24,000.00) security deposit. Each month of Year 1 of this Lease two thousand dollars ($2,000.00) of this security deposit shall be credited toward the Term Commencement Datemonthly Base Rent amount; making the Year 1 monthly Base Rent eleven thousand five hundred dollars ($11,500.00) per month plus gas, electric and refuse.
C. If the sums set forth laws of the state of New Mexico are changed such that the state of New Mexico ceases the practice of lease reimbursements for charter schools, then paragraph A of this Section shall be read to conform to the new law and may be renegotiated to reflect changes in Section 2.3. the laws or practice regarding charter schools.
D. The monthly installments of Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each due and payable in advance on the first 15th day of each month. If any such Base Rent shall be payable for a fraction of a month, the amount payable shall be a pro rata share of the full month's Base Rent based on the actual number of days of the month involved. Should the Tenant fail within fifteen (15) days after the amount is due to pay any Base Rent due hereunder at the time and every calendar month during in the Termmanner herein provided, a late fee of five percent (5%) of the amount then due will be added to the amount due which shall be immediately due and payable without any further notice or demand from Landlord. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent the Landlord from exercising any of the other rights and remedies granted hereunder.
7.2. E. In addition to the Base Rent, and except as explicitly and specifically stated in this Lease, Tenant shall pay to be responsible for the direct payment of all items identified under Services and Maintenance as obligations of Tenant. Unless otherwise negotiated between Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and during the lapse Lease Term Tenant will pay, when due, all charges of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid every nature, kind or description for utilities furnished to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to chargeable against the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodPremises after Year 1.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first month's rent shall be paid upon the Delivery Date. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord be one-twelfth of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based (except as additional rent (“Additional Rent”) at times hereinafter specified otherwise set forth in this Lease Lease) upon a thirty (a30) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3day month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America except as may be required by Section 19.7, at the office of Landlord Landlord's address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. In Tenant therefore agrees that if rent or any other sum is not paid within seven (7) days of the event the Term commences or ends on date when due and payable pursuant to this Lease, a day other than the first day of a calendar month, then the Rent for such fraction of a month late charge shall be prorated for such period on the basis imposed in an amount equal to four percent (4%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 in the event said rent or other periodpayment is unpaid after date due.
3.3 If Tenant shall extend the Term pursuant to Section 2.4 above, Tenant shall pay Annual Rent during each extension of the Term equal to the greater of (a) Market Rent, as defined below, or (b) the Annual Rent in effect upon the last day of the Term existing prior to the extension period in question.
Appears in 1 contract
Samples: Lease Agreement (O Charleys Inc)
Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Phase 1 Premises Rent Commencement Date, the sums set forth in Section 2.3, subject to the rental adjustments provided in Section 4.1 and Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth installments, subject to the rental adjustments provided in Section 2.34.1 and Article 8 hereof, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, Landlord in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Phase 1 Rent Commencement Date or Phase 2 Rent Commencement Date occurs or the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the a thirty (30) day month and shall be paid at the then-current rate for such fractional month.
7.4. Except All payments of Rent shall be made without set-off, deduction or offset except as expressly provided hereinin this Lease. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional, and independent and shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) or any other restriction on Tenant’s use, (c) or, except as provided in Articles 24 and 25, any casualty or taking taking, or (d) any failure by Landlord to perform or other occurrence; and Tenant assumes the risk of the foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, to terminate or cancel this Lease, or to xxxxx rentassert any defense in the nature of constructive eviction in any action seeking to recover rent (other than mandatory counterclaims). Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining Subject to the period prior to the date provisions of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; providedLease, however, that nothing Tenant shall have the right to injunctive relieve or to seek judgments for direct money damages occasioned by Landlord’s breach of its Lease covenants (but may not set-off any such judgment against any rent or other amount owing hereunder). Nothing in this sentence Section 7.3 shall in any way affect limit the exercise of Tenant’s obligations with respect to any other periodexpress remedies on the terms and conditions set forth in Sections 16.2 and 18.3 below).
Appears in 1 contract
Samples: Lease (Aveo Pharmaceuticals Inc)
Rent. 7.1. Tenant shall pay to Landlord The total Rent (as Base Rent defined below) for the Premisesinitial Term of this Lease is set out in the Summary of Lease Terms and Defined Terms above (the “Summary”). Monthly payments of Rent are payable in advance, commencing on the Term Commencement Datewithout demand, the sums set forth and in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3full without proration or setoff, each in advance on the first day of each and every calendar month during for the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) entire month and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as address set forth in Section 2.8 or to such other person the Summary or at such other place as Landlord may from time designate in writingby advance written notice to Tenant. In Rent may be paid by ePayment or other form of electronic payment (processing fees may apply), or by personal check or money order delivered to the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days address listed in the month and Summary. No payments to Landlord under this Lease shall be paid at in cash. In accordance with the then-current rate for such fractional month.
7.4Lease and Title 55, Chapter 13.2, Code of Virginia (1950), as amended (the “VRLTA”), “Rent” means all money, other than a security deposit, owed or paid to Landlord under this Lease, including prepaid Rent paid more than one month in advance of the Rent due date. Except as expressly provided hereinAny fees, Tenant’s obligation late penalties or other amounts that may be due under the Lease (other than Monthly Rent and any Security Deposits), shall be considered additional Rent due, and failure to pay any such amounts will be considered non-payment of Rent under this Lease, and Landlord may exercise its remedies under this Lease. All Rent received shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable applied to the Premisesoldest charge(s) first. When more than one Tenant has signed this Lease, (b) the Tenants are jointly and severally liable and responsible for all Rent and any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing payments made in connection with this Lease. Landlord is authorized to terminate or cancel this Lease or quit or surrender accept prepaid Rent in accordance with the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date provisions of the expiration or earlier termination VRLTA. Upon the written request of Tenant, Landlord shall provide Tenant(s) with an accounting of charges and payments in accordance with the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodVRLTA.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or ends on other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a day late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other than payment; provided that Tenant shall be entitled to a grace period of 5 days for the first day late payments of a calendar month, then Rent in any 12 month period before such late fee shall apply. The amount of the Rent for such fraction of a month late charge to be paid by Tenant shall be prorated for such period on the basis of the number of days in the month reassessed and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Notwithstanding anything in this Lease to the contrary, so long as Tenant is not then in default under this Lease following written notice thereof, Tenant shall be entitled to an abatement of Monthly Installment of Rent solely with respect to any the Initial Premises for the first forty-five (45) days of the Term (the “Monthly Rent Abatement Period”), in the amount of $999.85 per day, which totals $44,993.03 (the “Abated Rent”). During the Monthly Rent Abatement Period, only Monthly Installment of Rent for the Initial Premises shall be abated as set forth above, and Tenant’s Proportionate Share of Expenses, Taxes and Insurance Costs for the Initial Premises, and all other periodcosts and charges specified in this Lease, shall remain as due and payable pursuant to the provisions of this Lease, except to the extent expressly provided in Section 4.7 below.
Appears in 1 contract
Rent. 7.18.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 9 hereof. Base Rent and Additional Rent related to Additional TI Costs shall be paid in equal monthly installments (as set forth in Section 2.32.3 for Base Rent), subject to the rental adjustments provided in Article 9 hereof, each in advance on the first day of each and every calendar month during the Term.
7.28.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) commencing on the Term Commencement Date, Tenant’s Share (pro rata share, as defined set forth in Section 9.l(c) below) 2.2 (“Tenant’s Pro Rata Share”), of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (cb) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.38.3. Base Rent, Additional Rent related to Additional TI Costs and all other Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offsetoffset (except as expressly provided in Articles 25 and 26 herein), in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the a thirty (30) day month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Samples: Lease (Revance Therapeutics, Inc.)
Rent. 7.1. Tenant shall 3.1 Xxxxxx agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) belowbe one-twelfth ( 1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Xxxxxx therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Xxxxxx’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease Agreement (TherOx, Inc.)
Rent. 7.1. Tenant Tenant, in return for the use and occupancy of the Leased Premises and in consideration of the terms, conditions, covenants and provisions contained herein, shall pay to Landlord as Base Rent the total rent owed for the PremisesTerm of $________ payable in 12 equal installments (each an “Installment”) of $__________, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent which shall be paid in advance, without notice, demand, offset or reduction (the "Rent"). While Landlord has no obligation to do so and may refuse to do so, Landlord may accept partial payment of Tenant’s Rent or other payment obligations, but if it so elects, Landlord does not waive its right to collect and demand the payment of the remainder of such obligations or enforce Tenant’s default hereunder due to failure to pay such amounts in full. Tenant hereby acknowledges that the Term of this Lease is less than a full calendar year, and the Rent has been allocated into 12 equal monthly installments as set forth in Section 2.3and is not based on a daily or calendar month basis.. The first installment of Rent shall be due on August 1, 2016 and each in advance subsequent installment is due and payable on the first day of each and every calendar month during the Term.
7.2month. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) The last installment of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to due on July 1,2017. All payments must be made via the internet through Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as ’s Resident Portal. Tenant and any Co-Lessee acknowledge and understand Landlord may from time designate in writingrefuse other forms of payment, subject to Prevailing Law. In Tenant and Co-Lessee acknowledge Landlord will not waive late fees for any payments due to failure of such parties understanding how to submit payments through the event Resident Portal and therefore Tenant and Co-Lessee are encouraged to be familiar with the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period Resident Portal prior to the date of the expiration or earlier termination of first Rent payment is due. If Rent is not timely paid, Landlord reserves the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect right to any other periodrequire Tenant to pay all Rent and late fees by certified funds through the Resident Portal.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1In consideration of this lease, Tenant promises and agrees to pay Landlord the basic rental (as defined in paragraph 1(e) hereof) without deduction or set off, for each month of the entire lease term. One such monthly installment together with the security deposit (as defined in paragraph 1(f) hereof) shall be payable by Tenant shall pay to Landlord as Base Rent for contemporaneously with the Premisesexecution hereof, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent and a like monthly installment shall be paid in equal monthly installments as set forth in Section 2.3, each in advance due and payable without demand on or before the first day of each and every succeeding calendar month during the Term.
7.2term hereof. In addition Rent for any fractional month at the beginning or end of the lease shall be prorated. The security deposit shall be held by Landlord without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under this lease, it being expressly understood that such deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. Upon the occurrence of any event of default by Tenant, Landlord may, from time to Base Renttime, without prejudice to any other remedy, use such deposit to the extent necessary to make good any arrearages of rent and any other damage, injury, expense or liability caused to Landlord by such event of default. Following any such application of the security deposit, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified on demand the amount so applied in this Lease (a) Tenant’s Share (as defined order to restore the security deposit to its original amount. If Tenant is not then in Section 9.l(c) below) default hereunder, any remaining balance of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that such deposit shall be returned by Landlord to Tenant assumes or agrees to pay under the provisions upon termination of this Lease that are owed to Landlordlease. If Landlord transfers its interest in the premises during the lease term, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In assign the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable security deposit to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; transferee and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender thereafter shall have no further liability for the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date return of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodsecurity deposit.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any Monthly Installment of Rent or other sum invoiced by Landlord under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Art Technology Group Inc)
Rent. 7.1. Tenant shall pay to Landlord as The Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth (specified in Section 2.3. Base 1.1 hereof) and any additional rent or other charges payable pursuant to this Lease (collectively or individually, "Rent"), shall be payable by the Tenant to the Landlord at Landlord's mailing address or such other place as the Landlord may from time to time designate by notice to the Tenant without prior demand therefore and without any offset or deduction whatsoever except at otherwise specifically provided for in this Lease.
(a) The Rent shall be paid in equal monthly installments as set forth in Section 2.3, each payable in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rentterm of this Lease, Tenant shall pay to Landlord except as additional rent (“Additional Rent”) at times hereinafter specified otherwise provided in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), Subsection (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periodsSection 4.1.
7.3. Base (b) The Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money for the first calendar month of the United States of America Lease Term is due and payable at the office time of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingexecution and delivery of the Lease. In If the event the Term commences or ends Commencement Date occurs on a day other than the first day of a calendar month, then the Tenant shall pay to the Landlord on the first day of the succeeding calendar month a pro rata payment of Rent for such fraction the Partial month from the Commencement Date to the first day of a the succeeding calendar month. Such payment, together with the payment made by the Tenant upon execution and delivery of the Lease, shall constitute payment for the first full calendar month of the Lease Term plus the partial month, if any, immediately following the Commencement Date.
(c) Rent for any partial month shall be prorated for paid by the Tenant to the Landlord at such period rate on a pro rata basis. Other charges payable by the basis of the number of days in the month and Tenant on a monthly basis, as hereinafter provided, shall likewise be paid at the then-current rate for such fractional monthprorated.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) Rent, additional rent and any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to sums due hereunder not paid on the date shall bear interest at the rate of 1% per month or fraction thereof (or at any lesser maximum legally permissible rate) from 5 days past the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other perioddue date until paid.
Appears in 1 contract
Samples: Lease (Industrial Imaging Corp)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent (together with any sales tax imposed on rent by the Term Commencement Date, the sums set forth State of Florida or any local unit of government) then in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance effect on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional except that the first full month’s rent (“Additional Rent”together with any sales tax imposed on rent by the State of Florida or any local unit of government) due and payable after the expiration of the Rent Abatement Period shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at times hereinafter specified in this Lease any time shall be one-twelfth (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offset, offset and without notice or demand. All such rent amounts shall be paid in lawful money of the United States of America at and shall be paid to Landlord by Electronic Funds Transfer (“EFT”), Automated Clearing House (“ACH”) or wire transfer to the office of Landlord as set forth in Section 2.8 bank account specified by Landlord, or to such other person or at such other place and/or by such other methods as Landlord may from time to time designate in writing. In Upon Lease execution, Tenant agrees to cooperate with Landlord to complete all necessary forms in order to accomplish such method of payment. If Landlord agrees to accept payment of rent by means other than EFT, ACH or wire transfer, and if an Event of Default occurs during the event Term, Landlord may require by notice to Tenant that all subsequent rent payments be made by EFT, ACH or wire transfer, without cost to Landlord. Tenant must implement such automatic payment system prior to the Term commences next scheduled rent payment or ends within ten (10) days after Landlord’s notice, whichever is later. Notwithstanding anything to the contrary, Landlord may, in its sole discretion, allocate any rent or monies Tenant pays to Landlord to any sums then due and payable hereunder and in any order or priority including first to the most delinquent sums then due and payable hereunder. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment. Notwithstanding the foregoing, Landlord shall not charge Tenant a late charge on a day late payment so long as (i) Tenant was not late with the payment of any rent or other than sum due under this Lease during the first day preceding twelve (12) month period, and (ii) Landlord receives the rent or other sum due that is late within five (5) days of a calendar month, then the Rent for such fraction original due date. The amount of a month the late charge to be paid by Tenant shall be prorated for such period on the basis of the number of days in the month reassessed and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Appgate, Inc.)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month's rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month contrary. all amounts and sums payable by Tenant to Land lord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Franklin Wireless Corp)
Rent. 7.1. Tenant shall 3.1 Commencing on the Applicable Commencement Date for each Premises Component and subject to the Abatement Period, Xxxxxx agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below)the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Subject to the Abatement Period, (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” said Rent shall be paid to Landlord, without abatement, deduction or offsetoffset (except as otherwise expressly provided in this Lease) and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If there have been more than two (2) monetary Event of Defaults under this Lease in any 24 month period, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Xxxxxxxx’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of the number of days in the month which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be paid at imposed in an amount equal to the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by greater of: (a) any Applicable Laws now Fifty Dollars ($50.00), or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, five percent (c5%) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration unpaid rent or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; other payment, provided, however, that nothing Tenant shall not incur any late charge for the first late payment in any twelve (12) month period. The amount of the late charge to be paid by Tenant shall be reassessed and added to Xxxxxx’s obligation for each successive month until paid. The provisions of this sentence shall Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect TenantLandlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Tenant hereby acknowledges and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to be payable in all events (unless this Lease expressly provides to the contrary) and that the obligations of Tenant hereunder shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. Landlord and Xxxxxx each acknowledges and agrees that the independent nature of the obligations of Tenant hereunder represents fair, reasonable, and accepted commercial practice with respect to any other periodthe type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to Landlord entering into this Lease.
Appears in 1 contract
Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing 3.01 Commencing on the Term Commencement Datefirst day of the term of this Lease, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance and on the first day of each and every calendar month thereafter during the Term.
7.2. In addition to Base Rentterm of this Lease, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under Landlord on a monthly basis. Check shall be made out to: Restart Western Skies, L.P., and the provisions suite number shall be noted in the bottom left corner of the check. Rent per month for the said Premises shall be per the schedule below: Months 1-12 $1,945.00 Months 13-24 $2,003.00 Months 25-36 $2,063.00 The rental payments above do not include rental taxes that may be charged by the city, county or State of Arizona, which will be charged to the Tenant. The amount of $1,945.00, the first months’ full rent, is paid herewith to Landlord upon execution of the Lease, along with a security / damage deposit of $2,200.00. So long as the Premises are returned to Landlord upon the expiration or termination of this Lease that are owed Lease, in a good and clean condition (allowing for reasonable wear and tear), said security deposit shall be promptly returned to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of 3.02 If the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on commencement date is a day date other than the first day of a calendar month, then the Rent for such fraction of a month rent shall be prorated for such period based on the basis of the number of days left in the month bears to the total monthly rent due and shall be paid at the then-current rate payable for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation 3.03 N/A
3.04 Tenant agrees that Tenant will make no alterations to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereofthe Property without the prior written consent of the Landlord. Any additions or improvements installed by the Tenant upon the interior of the Premises shall, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of upon the expiration or earlier termination of this Lease, become the Term property of Landlord at Landlord’s option. Otherwise, Tenant shall be responsible for the full cost of removing such additions or this Lease shall survive any such expiration or earlier termination; providedimprovements and restoring the space to its original condition.
3.05 Tenant, however, that nothing in this sentence shall in any way affect Tenant’s obligations clients, vendors and visitors shall be entitled to park in common with respect to any other period.tenants of the Landlord on a first come, first serve basis, provided that the use does not exceed four (4)
Appears in 1 contract
Rent. 7.1. A. Tenant shall agrees to pay to Landlord as Base Rent for the Premisesfixed rent of Ninety-eight Thousand, commencing on the Term Commencement Date, the sums set forth Four Hundred Dollars ($98,400.00) per annum in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3of Eight Thousand, Two Hundred Dollars ($8,200.00), each in advance advance, on the first day of each and every calendar month during the Termterm of this Lease.
7.2B. Rental shall be paid by Tenant to Landlord at the address set forth above (or to such other party and address as Landlord may designate by notice to Tenant) without demand, counterclaim, offset or deduction.
C. All payments made by Tenant on account of this Lease shall be subject to collection. In addition Tenant agrees to Base Rent, Tenant shall pay to Landlord as additional rent a service charge of One Hundred (“Additional Rent”$100.00) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Dollars for any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default check of Tenant or failure other entity paying rent on Tenant’s part behalf of Tenant which is dishonored. In addition, Tenant agrees that if any such check shall be dishonored, Landlord shall have the right to comply with demand that all future Payments by Tenant be made in the agreementsform of certified or cashier's checks.
D. In addition to the rental provided for in this Lease, termsall taxes (e.g., covenants and conditions of excise, sales or use) other than income taxes, which may be levied upon the rent provided for under this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid by Tenant to Landlord and Landlord shall transmit such tax payments to the proper authorities.
E. Tenant shall also pay its proportionate share of the costs and expenses incurred by Landlord in snow and ice removal. Said proportionate share for the Demised Premises is three and eight-tenths percent (3.8%). Payment for said proportionate share shall be due within ten (10) days of presentation of a Statement from Landlord. Payment(s) due from Tenant for its proportionate share of the costs and expenses incurred by Landlord in snow and ice removal shall be considered additional rent.
F. Tenant shall pay Landlord, without abatementif required by Landlord, deduction or offset, a Late Charge of five (5%) percent of any installment of rent due hereunder which is made more than ten (10) days after the due date thereof in lawful money compensation for the added expense of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writinghandling delinquent payments. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month An additional Late Charge shall be prorated assessed for such period on the basis of the number of days in the each month and shall be paid at the then-current rate for such fractional montha payment remains delinquent.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Annual Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant except that the first Monthly Installment of Annual Rent shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) be paid upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlord, including Lease. The Monthly Installment of Annual Rent in effect at any and all other sums that may become time shall be one-twelfth of the Annual Rent in effect at such time. The amount of Annual Rent due by reason for any period during the Term which is less than a full month shall be a prorated portion of any default the Monthly Installment of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Annual Rent based upon a thirty (30) day month. Base All Annual Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Landlord's address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writingby written notice to Tenant. In the event the Term commences or ends on a day other sent to Tenant not later than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of thirty (30) days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date the next Monthly Installment of Annual Rent is due, except in the case of a sale or other transfer of the expiration Building by Landlord, in which event such notice from Landlord may be sent to Tenant not later than fifteen (15) days prior to the date the next Installment of Annual Rent is due.
3.2 Tenant recognizes that late payment of any Annual Rent, Additional Rent or earlier termination other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if Annual Rent, Additional Rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the Term unpaid amount of Annual Rent or this Lease Additional Rent or other payment; provided, however, that the first time such an Annual Rent and/or Additional Rent payment is late in any calendar year during the Term, Landlord shall survive any not impose such expiration late charge on Tenant unless and until Tenant shall have failed to pay the Annual Rent payment and/or the Additional Rent payment within five (5) days after receipt of notice from Landlord notifying Tenant of the delinquent payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive monthly period until paid. In addition, after the occurrence of an Event of Default (as hereinafter defined) with respect to the payment of Monthly Installments of Annual Rent or earlier terminationAdditional Rent to Landlord, such past-due and unpaid amounts shall bear interest ("Default Interest") at the rate per annum which is two percent (2%) higher than the "prime rate" then being charged by The Northern Trust Company of Chicago, Illinois from the date of the occurrence of the Event of Default until the Event of Default is fully cured; provided, however, that nothing contained herein shall be construed as permitting Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. Such late charge and Default Interest shall constitute Additional Rent. The provisions of this sentence shall Section 3.2 in no way relieve Tenant of the obligation to pay Annual Rent, Additional Rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said Annual Rent, Additional Rent or other periodpayment is unpaid after the date due.
3.3 Provided no Event of Default shall have occurred and be continuing, Landlord shall abatx xxx forgive the Monthly Installment of Annual Rent due and payable for the second fall calendar month of the first Lease Year.
Appears in 1 contract
Samples: Deed of Lease (Intuit Inc)
Rent. 7.1Section 2.1. Tenant shall pay to Landlord Owner all Base Rent, without notice or demand (except as Base Rent for the Premises, commencing on the Term Commencement Date, the sums otherwise expressly set forth in Section 2.3. Base Rent shall be paid this Lease), in advance, in equal monthly installments as set forth in Section 2.3installments, each in advance on the first day of each and every calendar month during the Term. All Rent shall be paid (a) by good checks drawn on a bank that is a member of the New York Clearing House Association L.L.C. (or any successor body of similar function) and in currency that at the time of payment is legal tender for public and private debts in the United States of America, to Owner at the address of Owner set forth in this Lease or to such other address or Person as Owner shall direct by notice to Tenant received not less than forty-five (45) days prior to its effectiveness, or (b) at the election of Owner, by wire transfer of immediately available funds to a Person designated by Owner by notice to Tenant received not less than ninety (90) Business Days prior to its effectiveness. Tenant shall not be obligated to make any one payment by more than one (1) check or wire transfer. All Additional Rent shall be payable within twenty (20) Business Days after receipt by Tenant of demand therefor, unless other payment dates are expressly provided in this Lease. Except as expressly set forth in this Lease, Base Rent shall be apportioned as of the Base Rent Commencement Date and Expiration of the Term.
7.2Section 2.2. In addition to Base Rent, Tenant shall pay to Landlord Except as additional rent (“Additional Rent”) at times hereinafter specified expressly set forth in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below)Base Rent shall be absolutely net to Owner, without any reduction, and (b) the Property Management Fee (as defined below) Tenant shall pay all costs, expenses and (c) any other amounts that Tenant assumes or agrees to pay under the provisions charges of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable every kind relating to the Premises, (b) Premises without any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier terminationreduction; provided, however, that nothing Tenant shall not be required to pay any debt service on any indebtedness of Owner or any Owner Party, or any lien caused by Owner or any Owner Party, which is not the express obligation of Tenant under this Lease. In the event of any Event of Default in the payment of Rent, Owner shall have all the rights and remedies provided for in this sentence shall Lease or by law or equity in any way affect Tenant’s obligations with respect to any other periodthe case of the nonpayment of Base Rent.
Appears in 1 contract
Samples: Sublease (Jetblue Airways Corp)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional except that the eighth’s full month’s rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (subject to the Abated Monthly Installment of Rent as defined described in Section 9.l(c) 3.3 below) of Operating Expenses (as defined below), (b) shall be paid upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlord, including Lease. The Monthly Installment of Rent in effect at any and all other sums that may become due by reason time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any default period during the Term which is less than a full month shall be a prorated portion of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions Monthly Installment of this Lease to be performed by Tenant, after notice and Rent based upon the lapse number of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset (except as otherwise expressly provided in this Lease) and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If more than one (1) Event of Default occurs in any twelve (12) month period during the event Term, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the Term commences next scheduled rent payment or ends on a day other than within twenty (20) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of the number of days in the month which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be paid at imposed in an amount equal to the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by greater of: (a) any Applicable Laws now Fifty Dollars ($50.00), or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, five percent (c5%) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration unpaid rent or earlier termination of the Term or this Lease shall survive any such expiration or earlier terminationother payment; provided, however, that nothing Tenant shall be entitled to a grace period of five (5) days for the first late payment in a calendar year. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this sentence shall Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect TenantLandlord’s obligations remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Notwithstanding anything in this Lease to the contrary, so long as there exists no Event of Default by Tenant under this Lease, Tenant shall be entitled to an abatement of Monthly Installment of Rent with respect to the Premises, as originally described in this Lease, in the amount of $123,941.35 for the period commencing March 1, 2015 and continuing through September 30, 2015 (the “Rent Abatement Period”). The maximum total amount of Monthly Installment of Rent abated with respect to the Premises in accordance with the foregoing shall equal $867,589.45 (the “Abated Monthly Installment of Rent”). If Tenant defaults under this Lease at any time during the Term (as the same may be extended) and fails to cure such default within any applicable cure period under this Lease, then all unamortized Abated Monthly Installment of Rent (i.e. based upon the amortization of the Abated Monthly Installment of Rent in equal monthly amounts, without interest, during the period commencing on the Commencement Date and ending on the original Termination Date) shall immediately become due and payable. Only Monthly Installment of Rent shall be abated pursuant to this Section, as more particularly described herein, and all other periodrent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the provisions of this Lease.
Appears in 1 contract
Samples: Lease (Ellipse Technologies Inc)
Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) ), and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at to the office of Landlord as address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Samples: Lease (Omega Therapeutics, Inc.)
Rent. 7.1As used in this Lease, the term "Rent" shall include: (i) the Base Rent; (ii) Tenant's Percentage Share of the Operating Expenses paid or incurred by Landlord during the calendar year; and (iii) all other amounts which Tenant is obligated to pay under the terms of this Lease. All amounts of money payable by Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3without prior notice or demand, each in advance deduction or offset. This Lease is intended to be a triple net lease, with all costs, expenses and charges (including the Operating Expenses) paid by Tenant. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the first day terms of each and every calendar month during any trust deed covering the Term.
7.2Premises. In addition to Base RentAccordingly, if any installment of Rent or any other sums due from Tenant shall not be received by Landlord when due, Tenant shall pay to Landlord as additional rent a late charge equal to six percent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below6%) of Operating Expenses (as defined below), (b) such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due costs Landlord will incur by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, after notice and the lapse of nor prevent Landlord from exercising any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingrights and remedies granted hereunder. In addition, any amount which is not paid when due shall bear interest from the event date due until the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be date paid at the then-current rate for such fractional month("Interest Rate") which is the lesser of fifteen percent (15%) per annum or the maximum rate permitted by law.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Rent. 7.1. A. Tenant shall pay Base Rent to Landlord as Base Rent for in the Premises, commencing on the Term Commencement Date, the sums set forth manner provided in Section 2.3. Base Rent shall be paid 5.B in equal consecutive monthly installments as set forth in Section 2.3, each in advance on or before the first 1st day of each and every calendar month during commencing as of the Commencement Date and continuing through the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event If the Term commences or ends on a day other than the first day of a calendar month, then or ends on a day other than the last day of a calendar month, Base Rent for such fraction of a month shall be prorated for by multiplying such period on Base Rent by a fraction, the basis numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5.A, on the Commencement Date in connection with Landlord’s acquisition of the Premises pursuant to the Purchase Agreement.
B. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all other amounts, sums, charges, liabilities and obligations which Tenant assumes or agrees to pay or may become liable for under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the month event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
C. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (5) days of the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) seven percent (7%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (including economic losses) that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent (including the amount of any Late Charge) due to Landlord shall accrue interest at the then-current rate for Default Rate from the date on which such fractional month.
7.4Rent was due up to the date that such Rent is paid. Except as expressly provided herein, Tenant’s obligation to pay Rent The payment of such late charge or such interest shall not be discharged constitute waiver of, nor excuse or otherwise affected by (a) cure, any Applicable Laws now or hereafter applicable to the Premisesdefault under this Lease, (b) nor prevent Landlord from exercising any other restriction on Tenant’s userights and remedies available to Landlord. Without limitation of the foregoing, (c) any casualty or taking or (d) any Tenant shall be responsible for payment of all interest, late charges, and other occurrence; actual costs and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the responsibility of Tenant hereunder.
D. For any period non-scheduled payment of Rent hereunder that is payable by Tenant on demand by Landlord, such shall be due ten (10) days following written demand therefor by Landlord, without abatement, deduction, or setoff under any circumstances.
E. If required pursuant to Section 21(C), Tenant shall deliver to Landlord an irrevocable standby letter of credit in form and substance reasonably acceptable to Landlord (“Letter of Credit”) in the amount required by Section 21(C) (the “Security Deposit”) to secure Tenant’s obligations arising, existing or pertaining under this Lease. Upon a monetary Event of Default and Tenant’s failure to the period prior to the date cure same following expiration of the expiration or earlier termination applicable notice and cure period, Landlord may draw on such Letter of the Term or this Lease shall survive Credit to satisfy any such expiration or earlier terminationunpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord a replacement Letter of Credit sufficient to replenish the Security Deposit to its original amount; provided, however, that nothing if the Letter of Credit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Letter of Credit in accordance with this sentence Lease, then Landlord shall in any way affect Tenant’s obligations have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Any Letter of Credit posted by Tenant pursuant to this Lease shall be issued (the following collectively, the “LC Issuer Requirements”): (a) by a commercial bank with a net worth of at least Ten Billion Dollars ($10,000,000,000), (b) that is chartered under the laws of the United States, any other State thereof or the District of Columbia, and which is insured by the Federal Deposit Insurance Corporation, (c) whose long-term, unsecured and unsubordinated debt obligations are rated in the highest category by at least two of Fitch Ratings Ltd. (Fitch), Xxxxx’x Investors Service, Inc. (Moody’s) and Standard & Poor’s Ratings Services (S&P) (the “Rating Agencies”) or their respective successors (which shall mean A- from Fitch, A3 from Moody’s and A-from Standard & Poor’s), (d) which has a short term deposit rating in the highest category from at least two Rating Agencies (which shall mean F2 from Fitch, P-2 from Moody’s and A-2 from S&P), and (e) which is not insolvent and is not placed into receivership or conservatorship by the Federal Deposit Insurance Corporation, or any successor or similar entity, and for which no trustee, receiver or liquidator is appointed. If at any time following the delivery of the Letter of Credit by Tenant pursuant to this Section 5.E the LC Issuer Requirements are not satisfied, then Tenant shall, no later than ten (10) business days after the earlier of (i) Tenant acquiring knowledge that the LC Issuer Requirements are not satisfied and (ii) receipt of written notice thereof, deliver to Landlord either a replacement Letter of Credit which meets the LC Issuer Requirements or cash in the amount of the Security Deposit. If Tenant fails to deliver a replacement Letter of Credit from an institution that satisfies the LC Issuer Requirements or such cash Security Deposit to Landlord within such ten (10) business day period, Landlord, at its option, upon the delivery of written notice to Tenant may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. It is Tenant’s responsibility to maintain and renew the Letter of Credit such that it is in effect at all times until the return of the Letter of Credit to Tenant in accordance herewith. Tenant shall renew such Letter of Credit no later than thirty (30) days prior to any expiration date thereof or replace such Letter of Credit with a replacement Letter of Credit which otherwise meets the LC Issuer Requirements or with a cash Security Deposit. If Tenant has not renewed the Letter of Credit (and delivered the original of such renewal documentation to Landlord) or delivered a satisfactory replacement Letter of Credit or cash Security Deposit to Landlord at least thirty (30) days prior to the expiration date of the Letter of Credit, Landlord, at its option, may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit.
Appears in 1 contract
Samples: Master Lease Agreement (Cracker Barrel Old Country Store, Inc)
Rent. 7.1. Tenant shall The tenant will pay to Landlord as Base Rent the landlord a monthly rent of - for the Premises, commencing duration. The rent will be payable in advance and due on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month for the duration. The first rent payment is payable to the landlord when the tenant signs this agreement. The rent for any period during the Term.
7.2period that is less than one month will be a pro rata part of the monthly payment. In addition Rent will be paid to Base Rentthe landlord at the landlord's address provided below (or at other locations directed by the landlord) by mail or in person by one of the following methods: and will be payable in U.S. dollars. Warranty. Located in the 'o'e-guarantor' promises to guarantee the landlord unconditionally, Tenant shall pay Full payment and performance by the tenant of all financial obligations arising from this agreement. The guarantor undertakes to Landlord as additional meet his obligations with the tenant for the financial obligations and obligations of the tenant under this agreement, including rent, damages, costs and costs. The guarantor further agrees that this guarantee will remain in force and that it will be binding on the guarantor until the end of this agreement. Late fees. The rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) paid after the day - each month will be considered late; and if the rent is not paid within days of Operating Expenses (as defined below)that due date, (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or tenant agrees to pay a late fee of the extra rent. There may be cases under this agreement where the provisions tenant may be required to pay additional fees to the landlord. All of these fees are considered additional rent under this agreement and will be paid with the next regular rent payment. The landlord has the same rights and the tenant has the same obligations with respect to the additional rent as with the rent. Utilities. The tenant is responsible for the payment of all utilities and other services for the premises. Deposit. When this agreement is signed, the tenant will pay a security deposit of $1.00 to the landlord. The security deposit will be retained by the landlord as a guarantee for the tenant's performance of its obligations under this agreement. The security deposit cannot be used or deducted by the tenant since the last month's rent of the clause. The tenant will be entitled to a full refund of the security deposit if the tenant returns ownership of the premises to the landlord on the same condition as the accepted regular wear and tear. In the days that apply to the termination of this Lease that are owed agreement, the landlord will return the security deposit to Landlord, including any and all other sums that may become due the tenant (minus the applied by the landlord in accordance with this section). Any reason of any default of Tenant or failure on Tenant’s to keep part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate security deposit will be explained in writing. The security deposit will not carry interest when held by the landlord in accordance with applicable state laws and/or local ordinances. The owner's failure to give possession. In the event that the Term commences landlord is to give the tenant possession of the premises on the start date of term, the landlord will not be subject to liability for such an omission, the validity of this agreement will not be affected and the duration will not be extended. The tenant will not be responsible for the rent until the landlord has given possession of the premises to the tenant. Holding rental. Unless this agreement has been extended by a mutual written agreement of the parties, there will be no deference in the course of the clause beyond the terms of this agreement. If it becomes necessary to take legal action to remove the tenant from the premises, the existing party will be entitled to legal fees and fees in addition to damages. Use of premises. The premises will only be occupied by the immediate family of the tenant and tenant and used only for residential purposes. The tenant will not engage in any wrongdoing, including behaviour that will make the premises less able to live, cause dangerous, dangerous or ends on a day unsanitary conditions, or interfere with the rights of others to enjoy their property. The tenant will be responsible for any damage to the premises and any damage or loss of their contents that is caused by the guests or guests of the tenant or tenant. State of play. The Tenant has reviewed the premises, including appliances, appliances and furniture, and recognizes that they are in good condition and repair, except normal wear and accepts them in its current condition. Maintenance and repairs. The tenant will maintain the premises, including the grounds and all appliances, accessories and furniture, in good condition and in good condition. The tenant will not remove appliances, appliances or furniture from the landlord for any purpose. If repairs other than general maintenance are required, the first day tenant will notify the landlord for such repairs. In the event of a calendar monthdefault by the tenant, then the Rent tenant will reimburse the landlord for such fraction the cost of repairs or replacement. Reasonable accommodations. The landlord agrees to comply with all applicable laws that provide equal housing opportunities, including the ability to accommodate reasonable physical or mental limitations known to eligible persons with disabilities, unless this results in undue hardship. The tenant is responsible for making the landlord aware of all these required accommodations that are reasonable and will not impose undue hardship. If the tenant discloses a month shall be prorated for such period on disability and requests accommodation, the basis of landlord has the number of days in right to ask a qualified health care provider to verify the month disability if the disability is not obvious, and shall be paid at the then-current rate for such fractional month.
7.4landlord has the right to use the caregiver qualified health to verify disability as a resource to provide reasonable accommodation. Except as expressly provided hereinSex Offender Registry. In accordance with the law, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.information about
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. A. Tenant shall pay Base Rent to Landlord as Base Rent for in the Premises, commencing on the Term Commencement Date, the sums set forth manner provided in Section 2.3. Base Rent shall be paid 5.B in equal consecutive monthly installments as set forth in Section 2.3, each in advance on or before the first 1st day of each and every calendar month during commencing as of the Commencement Date and continuing through the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event If the Term commences or ends on a day other than the first day of a calendar month, then or ends on a day other than the last day of a calendar month, Base Rent for such fraction of a month shall be prorated for by multiplying such period on Base Rent by a fraction, the basis numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be prorated pursuant to this Section 5.A, on the Commencement Date in connection with Landlord’s acquisition of the Premises pursuant to the Purchase Agreement.
B. For purposes of this Lease, the Base Rent, the Real Estate Taxes, the Utility Charges and any and all other amounts, sums, charges, liabilities and obligations which Tenant assumes or agrees to pay or may become liable for under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the month event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. All Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time.
C. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (5) days of the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) seven percent (7%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (including economic losses) that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent (including the amount of any Late Charge) due to Landlord shall accrue interest at the then-current rate Default Rate from the date on which such Rent was due up to the date that such Rent is paid. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall be responsible for such fractional monthpayment of all interest, late charges, and other actual costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the responsibility of Tenant hereunder.
7.4. Except as expressly provided hereinD. For any non-scheduled payment of Rent hereunder that is payable by Tenant on demand by Landlord, such shall be due ten (10) days following written demand therefor by Landlord, without abatement, deduction, or setoff under any circumstances.
E. Upon the Commencement Date, Tenant shall deposit with Landlord an amount equal to _________________________________ (the “Security Deposit”) to secure Tenant’s obligation obligations under this Lease. Upon the earlier of the fifth (5th) anniversary of the Commencement Date and the termination of this Lease, the Security Deposit shall be returned to pay Rent shall not be discharged or otherwise affected by Tenant, less (ai) any Applicable Laws now or hereafter applicable amounts required to repair any damages to the Premises, subject to normal wear and tear; and (bii) any other restriction on unpaid and outstanding monetary obligations of Tenant under this Lease. Upon a monetary Event of Default and Tenant’s usefailure to cure same following expiration of the applicable notice and cure period, (c) Landlord may use the Security Deposit to satisfy any casualty or taking or (d) any other occurrence; such unpaid monetary obligation of Tenant, and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part shall, within five (5) Business Days following written notice from Landlord thereof, or deposit with Landlord an amount sufficient to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining replenish the Security Deposit to the period prior to the date same amount as of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier terminationCommencement Date; provided, however, that nothing if the Security Deposit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Security Deposit in accordance with this sentence Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Tenant shall be permitted to deposit an irrevocable standby letter of credit in any way affect form and substance reasonably acceptable to Landlord (“Letter of Credit”) as the Security Deposit. Upon a monetary Event of Default and Tenant’s failure to cure same following expiration of the applicable notice and cure period, Landlord may draw on such Letter of Credit to satisfy any such unpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord a replacement Letter of Credit sufficient to replenish the Security Deposit to its original amount; provided, however, if the Letter of Credit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Letter of Credit in accordance with this Lease, then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Any Letter of Credit posted by Tenant pursuant to this Lease shall be issued (the following collectively, the “LC Issuer Requirements”): (a) by a commercial bank with a net worth of at least Ten Billion Dollars ($10,000,000,000), (b) that is chartered under the laws of the United States, any State thereof or the District of Columbia, and which is insured by the Federal Deposit Insurance Corporation, (c) whose long-term, unsecured and unsubordinated debt obligations are rated in the highest category by at least two of Fitch Ratings Ltd. (Fitch), Xxxxx’x Investors Service, Inc. (Moody’s) and Standard & Poor’s Ratings Services (S&P) (the “Rating Agencies”) or their respective successors (which shall mean A-from Fitch, A3 from Moody’s and A- from Standard & Poor’s), (d) which has a short term deposit rating in the highest category from at least two Rating Agencies (which shall mean F2 from Fitch, P-2 from Moody’s and A-2 from S&P), and (e) which is not insolvent and is not placed into receivership or conservatorship by the Federal Deposit Insurance Corporation, or any successor or similar entity, and for which no trustee, receiver or liquidator is appointed. If at any time following the delivery of the Letter of Credit by Tenant pursuant to this Section 5.E the LC Issuer Requirements are not satisfied, then Tenant shall, no later than ten (10) business days after the earlier of (i) Tenant acquiring knowledge that the LC Issuer Requirements are not satisfied and (ii) receipt of written notice thereof, deliver to Landlord either a replacement Letter of Credit which meets the LC Issuer Requirements or cash in the amount of the Security Deposit. If Tenant fails to deliver a replacement Letter of Credit from an institution that satisfies the LC Issuer Requirements or such cash Security Deposit to Landlord within such ten (10) business day period, Landlord, at its option, upon the delivery of written notice to Tenant may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. It is Tenant’s responsibility to maintain and renew the Letter of Credit such that it is in effect at all times until the return of the Letter of Credit to Tenant in accordance herewith. Tenant shall renew such Letter of Credit no later than thirty (30) days prior to any expiration date thereof or replace such Letter of Credit with a replacement Letter of Credit which otherwise meets the LC Issuer Requirements or with a cash Security Deposit. If Tenant has not renewed the Letter of Credit (and delivered the original of such renewal documentation to Landlord) or delivered a satisfactory replacement Letter of Credit or cash Security Deposit to Landlord at least thirty (30) days prior to the expiration date of the Letter of Credit, Landlord, at its option, may draw upon the Letter of Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord as a cash Security Deposit. Notwithstanding anything to the contrary contained herein, until the Lease is severed in accordance with Section 45, in the event Tenant believes in good faith that Tenant is entitled to receive insurance proceeds in accordance with Section 18 or condemnation proceeds in accordance with Section 19 and Landlord refuses, in violation of the terms hereof, to make such proceeds available to Tenant with respect to a Site, Tenant shall have the right to withhold Base Rent in an amount up to the Allocated Base Rent applicable to such Site until such dispute is resolved (and Landlord shall not have the right to draw against either the Security Deposit or Letter of Credit with respect to the Base Rent so withheld); provided that, (i) Tenant shall not be entitled to withhold Base Rent pursuant to the foregoing for more than five (5) Sites at any given time, (ii) Tenant shall only be entitled to withhold Base Rent in an aggregate amount with respect to any such Site not to exceed the amount of proceeds in dispute with respect to such Site, (iii) upon resolution of such dispute Tenant shall pay to Landlord the amount of Base Rent withheld in accordance with this paragraph plus, if Tenant was not entitled to such proceeds, interest thereon calculated at the Default Rate, and (iv) the foregoing shall not (A) restrict Landlord’s right to draw against either the Security Deposit or Letter of Credit with respect to (x) any amount of Base Rent that Tenant fails to pay in excess of such disputed insurance proceeds or otherwise fails to pay other periodthan in accordance with the foregoing or (y) any other monetary Event of Default or (B) grant or imply any right to Tenant to withhold any Rent due hereunder for any other reason (and any such withholding or failure to pay Rent when due shall be an Event of Default in accordance with the terms and provisions hereof).
Appears in 1 contract
Samples: Agreement for Purchase and Sale of Real Property (Cracker Barrel Old Country Store, Inc)
Rent. 7.1. Tenant shall agrees to pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on before the first day of each and every calendar month during rent for the Term.
7.2Premises. In addition to Base Rentadvance, without demand FOUR THOUSAND SEVEN HUNDRED EIGHTY-ONE DOLLARS ($4,781.00) per month during years one (1) through five (5) and FOUR THOUSAND SEVEN HUNDRED EIGHTY-ONE DOLLARS ($4,781.00) per month during years six (6) through ten (10 of this Lease. The first monthly installment shall be due and payable the eleventh (11th) month after the Commencement Date of this Lease. The Tenant shall pay to Landlord as additional rent may, at his election, make equal monthly payments beginning on the Commencement Date for years one (“Additional Rent”1) through five (5) at times hereinafter specified in this Lease an effective rate of THREE THOUSAND NINE HUNDRED EIGHTY-FOUR DOLLARS (a$3,984.00) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3per month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent The rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent prorated for such any fraction of a month included within the term of this Lease. The Tenant further agrees to pay when due, all other amounts specified herein as additional rent. At the termination of this Lease, if Landlord has consented to a hold over by Tenant, the rental for such hold over period shall be prorated for such period on the basis equal to one and one-half (1 1/2) of the number rent in effect on their termination date computed on a daily basis. To secure the payment of days the rent, in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided hereinaddition to any statutory lien, Tenant’s obligation Tenant grants to pay Rent shall not be discharged Landlord a continuing security interest upon all property of Tenant situated in or otherwise affected by (a) any Applicable Laws now or hereafter applicable to upon the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect Landlord agrees to subordinate all liens which Landlord may have to any security interest of a commercial lender, or which such lender may request, upon request of Tenant to permit it to borrow and grant as security for such borrowing any furniture, fixtures, inventory and equipment contained in the Premises. Until all rent due hereunder is fully paid, Tenant shall not remove any property from the Premises without the consent of Landlord. Tenant agrees to execute any financing statements or other periodinstruments requested by Landlord to perfect the security interest granted.
Appears in 1 contract
Samples: Lease Agreement (Tanox Inc)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to LandlordLandlord in cash or other readily available funds, without abatement, deduction or offset, except as otherwise expressly provided in lawful money Section 7.5 of the United States of America this Lease and without notice or demand, at the office of Rent Payment Address set out in the Reference Pages or wire transferred to Landlord as pursuant to the wiring instructions set forth in Section 2.8 on the Reference Pages (or to such other person address or at pursuant to such other place wiring instructions as Landlord may from time to time designate in writing). In Unless specified in this Lease to the event the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of the number of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within five (5) business days in the month after written notice that it was not paid when due and payable pursuant to this Lease, a late charge shall be paid at imposed in an amount equal to the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by greater of: (a) any Applicable Laws now Fifty Dollars ($50.00), or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, three percent (c3%) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration unpaid rent or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; other payment (provided, however, that nothing if late payment notice shall be given on two (2) or more occasions within any twelve (12) month period, then commencing with the date of the second such notice and continuing for twelve (12) months thereafter, the late charge under this Section 3.2 shall be applicable immediately upon any subsequent failure to pay any rent or other sum due under this Lease, without necessity of any prior notice). The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this sentence shall Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 Any rent, expense reimbursements, tax reimbursements and other sums required to be paid under this Lease and not paid within five (5) business days after written notice that it was not paid when due and payable pursuant to this Lease (including all late charges and attorneys’ fees) shall bear interest, until paid, at the lesser of the following rates: (i) 10% per annum; or (ii) the highest rate allowed under applicable law (provided, however, that if late payment notice shall be given on two (2) or more occasions within any twelve (12) month period, then commencing with the date of the second such notice and continuing for twelve (12) months thereafter, the interest under this Section 3.3 shall begin to accrue immediately upon any subsequent failure to pay any rent or other sum due under this Lease, without necessity of any prior notice). All agreements between Landlord and Tenant’s obligations with respect to , whether now existing or hereafter arising, whether herein contained or in any other periodinstrument or agreement, whether written or oral, are hereby expressly limited so that in no contingency or event whatsoever shall any acceleration of rents due, late charges, returned check charges, interest charges, or any other charges whatsoever, be deemed as interest charged, contracted for or received in excess of the amount permitted under applicable law, it particularly being the intention of the parties hereto to conform strictly to the laws of the State of Texas. Any portion of such charges which are deemed as interest in excess of the amount permitted under applicable law, as of the date such charge is due, shall be applied to a reduction of the rental payment next coming due hereunder, or, if such portion of charges exceeds the rental payment next coming due hereunder, such amount shall be refunded to Tenant. To the extent permitted by law, determination of the legal maximum amount of interest shall at all times be made by amortizing, prorating, allocating, and spreading in equal parts during the period of the full term of this Lease, all amounts deemed as interest at any time contracted for, charged or received from Tenant in connection with this Lease.
Appears in 1 contract
Samples: Lease Agreement (KBS Real Estate Investment Trust III, Inc.)
Rent. 7.1. (a) Payment Tenant shall timely pay Rent to Landlord, without notice, demand, deduction or setoff (except as otherwise expressly provided herein), by good and sufficient check drawn on a national banking association delivered to Landlord’s address provided for in the Basic Lease Information, by wire transfer as provided for in the Basic Lease Information, or to such other address or by wiring instructions provided in a notice delivered by Landlord to Tenant, accompanied by all applicable state and local sales or use taxes. The obligations of Tenant to pay Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Subject to the provisions of Exhibit H attached hereto, Basic Rent, adjusted as Base herein provided, shall be payable monthly in advance. The monthly installment of Basic Rent for the Premises, commencing on first calendar month of the Term Commencement Datefor which Basic Rent is due to Landlord hereunder shall be payable contemporaneously with the execution of this Lease; thereafter, the sums set forth in Section 2.3. Base Basic Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance payable on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure beginning on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a the second full calendar month, then month of the Term for which Basic Rent is due to Landlord. The monthly Basic Rent for such fraction any partial month at the beginning of a the Term shall equal the product of 1/365 of the annual Basic Rent in effect during the partial month shall be prorated for such period on the basis of and the number of days in the partial month and shall be paid due on the Commencement Date. Payments of Basic Rent for any fractional calendar month at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination end of the Term or this Lease shall survive any such expiration or earlier termination; providedbe similarly prorated. Subject to the provisions of Exhibit H attached hereto, however, that nothing Tenant shall pay Additional Rent at the same time and in this sentence shall in any way affect Tenant’s obligations with respect to any other periodthe same manner as Basic Rent.
Appears in 1 contract
Samples: Lease Agreement (Hipcricket, Inc.)
Rent. 7.13.1. Tenant shall Xxxxxx agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first (1st) day of each and every full calendar month during the Term.
7.2, except that the first (1st) full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Address for Rent Payment, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In Unless specified in this Lease to the event contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2. Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the Term commences extent of which additional expense is extremely difficult and economically impractical to ascertain. Xxxxxx therefore agrees that if rent or ends on a day any other than the first day of a calendar monthsum is not paid within five (5) days following notice from Landlord that such payment is overdue, then the Rent for such fraction of a month late charge shall be prorated for such period on imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00); or (b) five percent (5%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Xxxxxx’s obligation for each successive month until paid. The provisions of this Section 3.2 shall in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after the date due.
Appears in 1 contract
Rent. 7.1. 3.01 Tenant shall pay pay, or cause to be paid, to Landlord without any setoff or deduction whatsoever (except as Base Rent for may be otherwise herein expressly provided) and without any prior demand therefore, at the PremisesLandlord's place of business indicated above a monthly rental of One Thousand Five Hundred Dollars ($1500.00), commencing per month, payable monthly in advance on the Term Commencement Date, the sums set forth in Section 2.31st day of each and every month. Base Rent shall Such rents are to be paid in equal monthly installments as set forth in Section 2.3advance, each in advance on the first day of each and every calendar month during month. If the Term.
7.2. In addition to Base Rent, Tenant Lease shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) commence on the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then or shall end on a day other than the Rent last day of a calendar month, the applicable rental installment for such fraction of a first or last fractional month shall be prorated for such period on proportion of the basis of monthly installment as the number of days in the month and shall be paid at the then-current rate for such fractional month bears to the total number of days in such calendar month.
7.43.02 The Annual Fixed Rent above specified shall be net to Landlord. Except as expressly provided hereinTenant shall be responsible for the payment of all costs and expenses with respect to the use, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to occupancy and maintenance of the Premises, except where otherwise specified herein.
3.03 Landlord acknowledges that it has received from the Tenant the sum of Three Thousand Dollars (b) any other restriction on Tenant’s use$3000.00), (c) any casualty or taking or (d) any other occurrence; as consideration of First and Tenant waives all rights now or hereafter existing to terminate or cancel Last Month Rent for the payment of rent and the performance and observance of the agreements and conditions in this Lease contained on the past of Tenant to be performed and observed. In the event of any default or quit defaults in such payment, performance or surrender the Premises observance, Landlord may apply said sum or any part thereof, thereof towards the curing of any such default or to xxxxx rentdefaults and/or towards compensating Landlord for any loss or damage arising from any such default or defaults. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to Upon the period prior to yielding up of the date of Demised Premises at the expiration or earlier termination of this Lease, if Tenant shall not then be in default or otherwise liable to Landlord, said sum or the Term then unapplied balance thereof shall be returned to Tenant. In the event Landlord's interest in the Building shall be transferred or this Lease assigned, the Lessor shall survive any credit or turn over to such expiration transferee or earlier termination; providedassignee the First and Last Month Rent or the unpaid balance thereof In such event, howeverthe Tenant agrees to look only to the transferee or assignee, that nothing in this sentence shall in any way affect Tenant’s obligations as the case may be, of the Landlord with respect to any other periodthe First and Last Month Rent or the unpaid balance thereof, its application and return Landlord further covenants that it will not assign or encumber or attempt to assign or encumber the First and Last Month Rent deposited herein.
Appears in 1 contract
Rent. 7.1. Tenant shall 3.1 Txxxxx agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant except that the first full month's rent shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) be paid upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlordand shall be offset against rent when it actually first becomes due under the Lease. Provided there is no Event of Default by Tenant under this Lease, including payment of rent for the Initial Premises shall be abated for the first year of the Term as set forth in the Initial Premises rent schedule on the Reference Pages. The Monthly Installment of Rent in effect at any and all other sums that may become due by reason time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any default period during the Term which is less than a full month shall be a prorated portion of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions Monthly Installment of this Lease to be performed by Tenant, after notice and Rent based upon the lapse number of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In Unless specified in this Lease to the event the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Txxxxx therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord 's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease Agreement (Wageworks, Inc.)
Rent. 7.1. Tenant shall To pay to the Landlord as Base Rent for in advance the Premises, commencing on collective rent of: £… Each and every quarter from the Term Commencement Date, date of commencement of the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments tenancy and as set forth out in Section 2.3the schedule provided. To pay the rent by the due date in the agreement each quarter. The method of payment is by standing order only, each which should be set up for 3 days in advance on of the first day due date to allow for clearance through the banking system. If a summer retainer has been agreed an adjustment has been made in the schedule to allow for this and it will be noted at the end of this agreement. This is a collective rent agreement and if more than one signs the agreement each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent one shall be paid to Landlord, without abatement, deduction or offset, in lawful money responsible joint y and severally for the whole rent until the end of the United States term of America at the office ag eeme t. Tenants who vacate before the expiration of the term shall sti l remain liable for the rental term and forfeit any rent paid and deposit. The Landlord as set forth in Section 2.8 or reserves the right to such other person or at such other place as Landlord may from time designate determine the tenancy with one months notice in writing. In , if the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises rent or any part thereof, thereof shall be in arrears for 14 days after the same has become due whether legally demanded or to xxxxx rent. Tenant’s obligation to pay Rent with respect to not or if there shall be a breach of any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination obligations on the part of the Term Tenant/s or this Lease if the Tenant/s s all become bankrupt or enter into liquidation or compound with his creditors or if any of the grounds listed in schedule 2 of the Housing Xxx 0000 as amended under the Housing Xxx 0000 and the provisions for the recovery of possession by the landlord in section 21 thereof apply accordingly, the Landlord may re]enter the premises or any par thereof in the name of the whole and immediately thereupon the tenancy shall survive any such expiration absolutely determine without prejudice to his/her rights to immediately recover all unpaid collective rent until the end of the term of the tenancy agreement and all legal and admin costs, including interest incurred or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodrights and remedies of the Landlord. After 14 days and from the due date an interest rate of five per cent per annum ab ve base rate prevailing at the time of Barclays Bank Plc will be added for any sum payable under this agreement that is not paid on its due date.
Appears in 1 contract
Samples: Assured Shorthold Tenancy Agreement
Rent. 7.13.1. Commencing on the Rent Commencement Date, Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional be one-twelfth of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon a thirty (30) day month. Said rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand except as specifically set forth herein, in lawful money of the United States of America at the office of Landlord Landlord’s address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2. In Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the event extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within ten (10) days of the Term commences date when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the lesser of (i) four percent (4%) of the unpaid rent or ends on a day other than payment or (ii) the first day amount of a calendar month, then the Rent late charge paid by Landlord for such fraction month pursuant to the Ground Lease and the then current Mortgage resulting from Tenant’s late payment. The amount of a month the late charge to be paid by Tenant shall be prorated for such period on the basis of the number of days in the month reassessed and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 18 in the event said rent or other periodpayment is unpaid after the date due.
3.3. If Tenant shall extend the Term by exercising a Renewal Option pursuant to Section 2.3 above, the Annual Rent during the applicable Renewal Period shall be the greater of (i) ninety-five percent (95%) of Market Rent (as defined below) and (ii) the Annual Rent in effect during the last year of the then existing Term.
Appears in 1 contract
Samples: Lease (Dunkin' Brands Group, Inc.)
Rent. 7.1. Tenant shall (a) In consideration of this Lease, Txxxxx promises and agrees to pay to Landlord as Base Rent for the PremisesRent, commencing without demand, deduction or set off, on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each month of the Term. The first such monthly installment of Rent shall be payable by Tenant to Landlord on the Lease Date and every monthly installments of Base Rent shall thereafter be paid on or before the first day of each subsequent calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event any installment of Rent is not received within ten (10) days after the Term commences or ends on due date thereof (without in any way implying Landlord’s consent to such late payment), unless other arrangements have been made between Landlord and Tenant, Txxxxx agrees to pay, in addition to said installment of Rent, a day other than late payment charge equal to five percent (5%) of the first day late installment of Rent, it being understood that said late payment charge shall constitute liquidated damages (but shall not void the occurrence of a calendar month, then the Rent for such fraction default or eliminate any of a month shall be prorated for such period on the basis of the number of days in the month Landlord’s remedies therefor) and shall be paid at for the then-current rate purposes of reimbursing Landlord for the additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of a late installment payment of Rent. Tenant and Landlord agree that the damages suffered by Landlord in the event of any such fractional month.
7.4late payments are not capable of being ascertained precisely, and that the foregoing amount constitutes a reasonable and good faith estimate by the parties of the extent of such damages. Except Notwithstanding anything in this Lease to the contrary, all amounts payable by Tenant to Landlord as expressly provided herein, Tenant’s obligation to pay Rent shall not constitute rent for the purpose of Section 502(b)(7), as it may be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premisesamended, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodBankruptcy Code (defined below).
Appears in 1 contract
Samples: Lease Agreement (Cellteck Inc.)
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first (1st) day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, except that the first (1st) full Monthly Installment of Annual Rent on the entire Premises, totaling Two Hundred Sixty-Seven Thousand Five Hundred Eleven and 88/100 Dollars ($267,511.88), shall be paid by Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlord, including Lease. Rent for any and all other sums that may become due by reason period during the Term which is less than a full month shall be a prorated portion of any default the Monthly Installment of Tenant or failure on Tenant’s part to comply Annual Rent based upon a 365-day calendar year (consistent with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Section 4.6). Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to LandlordLandlord (except as otherwise expressly set forth in this Lease), without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Wire Instructions and/or Address for Rent Payment for the Premises as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In Unless specified in this Lease to the event the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for deemed additional rent. If an Event of Default occurs, Landlord may require by written notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such period on automatic payment system prior to the basis next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease more than once in any twelve (12) month period, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00); or (b) five percent (5%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent for each successive month until paid. The provisions of this Section 3.2 shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after the date due.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise specifically provided in this Lease, the full amount of all Base Rent for and Additional Rent due hereunder and the Premisesfull amount of all such other sums of money as shall become due under this Lease, commencing on the Term Commencement Dateall of which hereinafter may be collectively called “Rent.” In addition, the sums set forth Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, county, state or other governmental body having authority, such payments to be in Section 2.3addition to all other payments required to be paid by Tenant to Landlord under this Lease. Such payments shall be paid concurrently with payments of Taxes. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be paid due and payable in equal advance in monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Lease Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of demand. If the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Lease Term commences or ends on a day other than the first day of a calendar month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such fraction of a month or months shall be prorated for such period prorated, based on the basis of the number of days in the month and such month. All amounts received by Landlord from Tenant hereunder shall be paid at applied first to the then-current rate for such fractional month.
7.4earliest accrued and unpaid Rent then outstanding. Except as expressly provided herein, Tenant’s obligation covenant to pay Rent shall not be discharged independent of every other covenant set forth in this Lease.
3.2 To the extent allowed by law, if Tenant fails to pay any Base Rent, Additional Rent, or otherwise affected by other item of Rent when due and payable hereunder, such item (a) any Applicable Laws now or hereafter applicable to shall bear interest at the Premises, Default Rate from the date due until the date paid and (b) any other restriction on Tenant’s useshall bear a “Late Charge” equal to five percent (5%) of the unpaid amount, both (ca) any casualty or taking or and (db) any other occurrence; of which shall be due and payable to Landlord immediately upon demand. Notwithstanding the foregoing, Tenant waives all rights now or hereafter existing shall be entitled to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent a grace period of five (5) days after written notice from Landlord with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall first late payment in any way affect Tenant’s obligations with respect to any other periodcalendar year.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2. In addition to Base Rent, Tenant except that the first month's rent shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) be paid upon the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions execution of this Lease that are owed to Landlord, including Lease. The Monthly Installment of Rent in effect at any and all other sums that may become due by reason time shall be one-twelfth of the Annual Rent in effect at such time. Rent for any default period during the Term which is less than a full month shall be a prorated portion of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions Monthly Installment of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3Rent based upon a thirty (30) day month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Landlord's address, as set forth in Section 2.8 on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. In the event the Term commences Tenant therefore agrees that if rent or ends on any other sum is not paid when due and payable pursuant to this Lease, a day other than the first day of a calendar month, then the Rent for such fraction of a month late charge shall be prorated for such period on imposed in an amount equal to the basis greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 18 in the event said rent or other periodpayment is unpaid after date due. Notwithstanding the foregoing, Tenant shall be entitled, not more than once per calendar year, to a five-day grace period before a late charge may be assessed.
Appears in 1 contract
Samples: Lease (Ace Hardware Corp)
Rent. 7.1. Tenant shall Lessee agrees to pay to Landlord as Base Authority at its offices in Corpus Christi, Nueces County, Texas, Twelve Thousand Five Hundred and 00/100 Dollars ($12,500.00) per month 307473v3 1 M&G Resins USA, LLC 10 Acre Laydown Lease (2017) during the Term of this Lease. The first monthly installment of rent hereunder is due and payable on or before the 10th day after the Effective Date. Rent for any fractional month at the Premises, commencing on beginning or end of the Term Commencement Date, the sums set forth in Section 2.3will be prorated on a per-day basis. Base Rent shall be paid in equal Each monthly installments as set forth in Section 2.3, each in advance installment of rent is due and payable on or before the first day of each and every calendar succeeding month during thereafter at the Term.
7.2offices of Authority in Corpus Christi, Nueces County, Texas. In If Lessee should fail to pay Authority any sum to be paid by Lessee to Authority hereunder within thirty (30) days after such payment is due, interest on the unpaid amount shall accrue at a rate of fifteen percent (15%) per annum or the maximum rate allowed by law, whichever is greater, from the date payment was due until the date payment is made. Authority may also impose a late charge of Twenty-Five Dollars ($25.00) or five percent (5%) of the unpaid amount, whichever is greater, to defray Authority’s administrative costs incurred as a result of Lessee’s failure to timely make such payment or payments, the amount of such costs not being readily ascertainable. Any such late charge shall be in addition to Base Rent, Tenant all other rights and remedies available to Authority hereunder or at law or in equity and shall pay to Landlord not be construed as additional rent (“Additional Rent”) at times hereinafter specified liquidated damages or limiting Authority’s other remedies in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees manner. Failure to pay under such interest or late charge within thirty (30) days after written demand shall be an event of default hereunder. Following the provisions dishonor of any check presented for payment, Authority shall have the right, at Authority’s option, to require all further payments to be made by cashier's check, money order or wire transfer. For purposes of this Lease that are owed Section, any adjustment payment made by Lessee to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent correct a prior underpayment shall be treated as due on the date such underpayment was due; provided, however, an adjustment payment made by Lessee as the result of an independent audit conducted at Lessee’s expense shall not be subject to a late charge as described herein. Rent must be paid to Landlord, without abatement, deduction or offset, in lawful money legal tender of the United States of America at the office of Landlord as set forth in Section 2.8 without notice, demand, abatement, deduction or to such other person or at such other place as Landlord may from time designate in writingoffset. In the event the Term commences or ends on This is a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4net Lease. Except as expressly provided herein, Tenant’s obligation to pay Rent Authority shall not be discharged required to make any expenditure, incur any obligation, or otherwise affected by (a) incur any Applicable Laws now or hereafter applicable to the Premises, (b) liability of any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel kind whatsoever in connection with this Lease unless provided for in this Lease Agreement or quit the financing, ownership, construction, reconstruction, maintenance, operation, or surrender repair of the Leased Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.improvements thereon
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. Tenant shall 3.1 Xxxxxx agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Xxxxxx therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Xxxxxx’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3 All monetary obligations with respect of Tenant under this Lease are deemed to any other periodbe rent.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month's rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is Dot paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Tenant's obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect Tenant’s obligations with respect Landlord's remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Thermoview Industries Inc)
Rent. 7.13.1. Tenant shall agrees to pay to Landlord as Base the Annual Rent (including, without limitation, all Rent Adjustments and the Electrical Charge provided for under Article 4) in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on or before the first day of each run Calendar month during the Term Commencement Date, (except that the sums set forth in Section 2.3. Base Rent first full month’s rent shall be paid in equal monthly installments upon the execution of this Lease), and the Electrical Charge at such times as set forth in Section 2.3, each 4.7. The Monthly installment of Rent in advance on effect at any time shall be one-twelfth (1/12) of the first day of each and every calendar month Annual Rent in effect at such time. Rent for any period during the Term.
7.2Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. In addition to Base Rent, Tenant shall pay to Landlord as additional Said rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs. Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2. Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The. amount of the late charge tx.xx paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due.
3.3. Notwithstanding anything to the Term commences or ends contrary contained in this Lease, provided an Event of Default beyond any applicable notice and cure period contained in the Lease does not exist hereunder. the Annual Rent and the Monthly Installment of Rent shall axxxx for the first live (5) Lease Months. Commencing on a day other than the first day of a calendar monththe sixth (6th) Lease Month (or any other earlier date upon which an Event or Default has occurred), then such abatement shall cease and Tenant shalt thereupon commence paying to Landlord the full amount of Annual Rent for such fraction and the Monthly Installment of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided hereinRent, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable without regard to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel first sentence of this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodParagraph.
Appears in 1 contract
Rent. 7.1The tenant will pay the Landlord a monthly rent for the term. The rent will be paid in advance and must be paid on the day of each month during the term. The first rent payment is paid to the landlord when the Tenant shall pay to Landlord as Base signs the agreement. Rent for any period during the term less than one month will be a pro rata part of the monthly fee. The rent will be paid to the landlord at the landlord's address in this (or in other places as indicated by the landlord) by mail or in person one of the following methods: and will be paid in U.S. dollars. Guarantee. Located at: q, q, q (Garant) promises to guarantee the Landlord the full payment and fulfillment of all financial obligations and obligations arising from this Agreement. The Guarantor agrees to a joint and multiple obligations with the Tenant for the tenant's financial obligations and obligations under the Agreement, including rent, loss, fees and expenses. The Guarantee further agrees that the guarantee must remain fully valid and enforceable for the Guarantee until the Agreement is terminated. Late collection. Rents paid after the day of each month will be considered late; and if the rent is not paid within a few days of that period, the Tenant agrees to pay a late fee in the th. Additional rent. There may be cases under this agreement where the tenant may be required to pay additional costs to the landlord. All such fees are considered additional rent under this Agreement and will be paid with the next regular rent. The landlord has the same rights and the tenant has the same obligations regarding the additional rent as they do with the rent. Utilities. The tenant is responsible for paying for all utilities and other services for premises. Deposit. After the signing of this Agreement, the Tenant will pay the landlord a deposit of 1 euro. The deposit will be retained by the landlord as collateral for the tenant to fulfil its obligations under the Agreement. The deposit cannot be used or deducted by the tenant as the lease in last month Term.Tenant will be entitled to full collateral reimbursement if the tenant returns ownership of the Landlord in the same condition as customary wear is excluded. Within a few days of the termination of this Agreement, the Landlord returns the deposit to the Tenant (minus any amount applied by the Landlord under this section). Any reason for retaining part of the pledge will be explained in writing. The deposit will not incur interest from the Landlord in accordance with applicable state and/or local regulations. The landlord's inability to give possession. If the Landlord is unable to grant ownership of the Premises to the tenant at the start of the term, the landlord will not be liable for any liability for such a failure, the validity of the Agreement will not be affected and the term will not be extended. The tenant will not be liable for the lease until the landlord gives ownership of the Premises to the tenant. Rent a holdover. If this Agreement is not renewed mutual written consent of the Parties, the Parties, the terms of this Agreement under all circumstances. If, if necessary, a lawsuit is initiated to remove the Tenant from the Premises, commencing on the Term Commencement Dateprevailing Party will be entitled to attorney's fees and expenses in addition to the damages. Use Of The Premise. The premises will be occupied only by the next of kin of the tenant and the tenant and will be used only for residential purposes. The tenant will not engage in any undesirable behaviour, including behaviour that will make premises less livable, lead to dangerous, dangerous or unsanitary conditions, or will interfere with the rights of others to enjoy their property. The tenant is liable for any damage caused by the Premises and any damage or loss of its contents, which is done by the tenant or the tenant's guests or invited. The State of The Prerequisites. The tenant has studied the premises, including appliances, fixtures and furniture, and admits that they are in good condition and repair, normal wear is excluded and takes them to its current condition. Maintenance and repairs. The tenant will maintain the Premises, including the grounds and all appliances, fixtures and furniture, in clean, sanitary and good condition and repair. The tenant will not remove household appliances, fixtures or landlord furniture from the Premises for any purpose. If repairs are required, in addition to general maintenance, the sums set forth in Section 2.3Tenant will notify the landlord of such repairs. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3If the tenant fails to meet the obligations, each in advance on the first day of each and every calendar month during Tenant will reimburse the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) landlord for the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason cost of any default of Tenant repair or failure on Tenant’s part replacement. Reasonable accommodation. The landlord agrees to comply with all applicable laws that ensure equal housing opportunities, including the agreementsprovision of reasonable housing for known physical or mental disabilities of qualified persons with disabilities, termsunless undue difficulties are brought. The tenant is responsible for making sure that the landlord is aware of any such necessary premises that are reasonable and will not impose undue hardship. If the tenant discloses a disability and asks for housing, covenants the Landlord has the right to have a qualified health care provider to check for disability if the disability is not obvious, and conditions the landlord is entitled to use a qualified provider of disability screening services as a resource to provide reasonable housing. Sex offenders registry. In accordance with the law, information on specific registered sex offenders is available to the public. The tenant understands and agrees that the Tenant is fully responsible for obtaining any information contained in the state or national sex offender registry for the area surrounding premises that may be obtained online or by the local sheriff's department or other relevant law enforcement. Depending on the offender's criminal history, this information will include either the address at which the offender resides or the code in which he or she lives. Match. The tenant agrees to comply with all applicable laws, regulations, requirements and regulations of any federal, state, district, municipal or other authority. Mechanic Lien. The tenant understands and agrees that the Tenant and any person acting on behalf of the Tenant are not entitled to apply for the mechanic's liens or any other type of collateral on premises. The tenant agrees to give an actual advance notice to any contractors, subcontractors or suppliers of goods, labour or services that such collateral is invalid. The tenant also agrees to take additional measures to ensure that the premises are free of any collateral that may result from the construction completed by the tenant or for him. Subordination. As for the Preconditions, this Agreement is subject to any mortgage that currently exists, or may be granted later by the Landlord. Changes. The tenant will not make any changes, additions or improvements to the premises without first obtaining the landlord's written consent. Any changes, additions or improvements to the Premises are not payment to the tenant and will become the landlord's property immediately upon completion and will remain on premises if the landlord does not request or permit removal, in which case the tenant will return this part of the premises in the same condition as existed before the change, addition or improvement. The tenant will not change existing locks or install any additional locks on the Premises without first obtaining the landlord's written consent and without providing the Landlord with a copy of all the keys. Smoking. Smoking of any kind is strictly prohibited on either side of the Premises. This prohibition applies to the Tenant and any visitor, guest or other tenant in the Premises. Pets. The tenant is not allowed to have or keep any pets, even temporarily, on any part of the Premises. The unauthorized presence of any pet will subject the Tenant to fines, damages, deductions and/or termination of this Lease Agreement. Properly trained service animals that provide assistance to the disabled may be performed allowed in the Premises with the landlord's prior written consent, which should not be unreasonably withheld. The tenant will be liable for the costs of de-fleas, deodorization and/or shampoo all or any part of the Premises if the pet has been on premises at any time during the term (whether with or without the landlord's written consent). Fire and accidents. If premises are damaged by Tenanta fire or other serious disaster or accident and Premises becomes uninhabitable as a result, after notice the Tenant can immediately vacate the Premises and terminate it on the lapse landlord's notice. The tenant will be responsible for any unpaid rent or will receive a prepayment of rent until the day of the fire, natural disaster or accident. If the premises are damaged and inhabited, the landlord can make a complete renovation and will do so a quick and reasonable amount of time. At the landlord's discretion, the rent may be reduced during the renovation. Responsibility. The landlord is not liable or liable for any loss, claim, damage or expense resulting from any accident, injury or injury of any applicable cure periods.
7.3person or property occurring anywhere on the Premises if resulting from negligence or wilful misconduct by the landlord. Base Rent Tenant's insurance. The tenant is required to receive, and Additional Rent shall together be denominated “Rent.” Rent shall be paid maintain at all times during the term, the tenant's insurance policy with a minimum of $100,000.00 personal liability coverage. The tenant will name the Landlord as the interested party or additional insured person. The tenant will provide the landlord with a certificate or proof of insurance on request. Appointment and subletting. The tenant will not assign this Agreement to Landlord, without abatement, deduction any part or offset, in lawful money all of the United States of America at the office of Landlord as set forth in Section 2.8 Premises or to make or permit any full or partial subletting or other transfer of any part or all premises. Insurance requirements. The tenant will not do or be allowed to do any actions or things that will increase the insurance risk under any insurance policy covering premises. If the premium for such other person an insurance policy is increased due to a breach of the Tenant's obligations under the Agreement, the Tenant will pay an additional premium as an additional rent under the Agreement. The right of entry. The landlord or at such other place as Landlord his agents may from enter the Premises within a reasonable time designate in writingto inspect the Premises to make any changes, improvements or repairs or show premises to a potential tenant, buyer or lender. In the event of an emergency, the Term commences or ends on a day other than landlord can enter the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid premises at the then-current rate for such fractional monthany time.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Samples: Tenancy Agreement
Rent. 7.1(A) During the first three (3) years of the Lease, commencing on August 1th, 2017, the monthly rent shall be $1,600.00 per month. Tenant Thereafter, commencing on July 31 1th 2020 the monthly rent for the Rent of the Premises shall pay to Landlord as Base have a yearly increase of five percent (5%) over the prior year and there after every subsequent anniversary of the Lease on every first (1st) day of June (“the Rent”) . Rent for the PremisesRenewal Period, commencing on the Term Commencement Dateif exercised by Tenant, the sums set forth in Section 2.3. Base Rent shall be paid in equal negotiated at such time between Landlord and Tenant. Throughout the Initial Term and/or the Renewal Period, Tenant covenants and agrees to pay the Landlord monthly installments as set forth in Section 2.3rent, each payable in advance on the first day of each and every calendar month during the Termmonth.
7.2. In addition to Base Rent, Tenant (B) The payment of Rent shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) NOT include Tenant’s Share (as defined consumption of electricity, water, sewer, telephone services, internet services, “wifi”, lamps and tubs, common area cleaning and maintenance and pest control.
3.2 Provided the Landlord shall not be in Section 9.l(c) below) default of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes its obligations or agrees to pay covenants under the provisions of this Lease that are owed to Landlord, including any and all other sums that which may become due by reason of any default of Tenant or failure on impair Tenant’s part to comply with use and operation of the agreementsPremises, terms, covenants and conditions all payments of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent rent hereunder shall be paid to made in advance and upon written demand by Landlord, without abatementdeduction, deduction abatement or offsetset-off, in lawful money by check, ACH, wire transfer or any other method of the United States of America at the office of payment acceptable by Landlord as set forth in Section 2.8 and payable to Landlord or to such other person manner as may be designated by written notice from Landlord to Tenant, and if applied, shall be mailed to Landlord at the address specified in the Notice section of this Lease or at to such other place as may be designated by written notice from Landlord to Tenant.
3.3 No payment by Tenant or receipt by Landlord of a lesser amount than the monthly rent and/or other charges herein stipulated shall be deemed to be other than on account of the earliest stipulated rent, and/or other charges unpaid nor shall any endorsement or statement on any check or letter accompanying any check or payment as rent and/or other charges be deemed and accord and satisfaction, and Landlord may from time designate in writing. In accept such check or payment without prejudice to Landlord’s right to recover the event the Term commences balance of such rent and/or other charges or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) pursue any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrenceremedy; and Tenant waives all rights now or hereafter existing to terminate or cancel in this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; by law provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) belowbe one-twelfth ( 1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent after five (5) days of due date, or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Devax Inc)
Rent. 7.1a. Tenant's liability for rent shall commence to accrue on the commencement date as defined in paragraph 2(c) above, provided that this lease has not been terminated prior thereto. Rent is payable in advance. If the Commencement Date begins on a date other than the first of the month, the rent for such partial initial month shall be prorated, added to and paid with the rent due and payable on the first day of the first full calendar month of the term hereof. The monthly rent to be paid by Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance Six Thousand and No/100 Dollars ($6,000.00). Such rental shall be payable on the first day of each and every calendar month during the Termterm hereof.
7.2. In addition to Base Rent, Tenant b. All payments of rent hereunder shall pay be made to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may same become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or States, at such other place places as hereinafter may be designated. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord may from time designate in writingand Tenant.
c. Landlord shall be responsible for the payment of real estate taxes assessed against the Demised Premises. In no event shall Tenant be liable for payment of any income, estate or inheritance taxes imposed upon the Landlord or the estate of the Landlord with respect to the Demised Premises. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent special assessment with respect to any period or obligations arisingthe Demised Premises levied during the term of this Lease, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease Tenant shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations have no obligation with respect to payment of such assessment and Landlord shall be obligated to pay same. Notwithstanding the foregoing, Tenant shall be responsible for the payment of real estate taxes and other special assessments against the Demised Premises for any other periodfiscal year(s) in which Tenant's gross sales revenues (defined as revenues from all business activities on the Demised Premises including, but not limited to, revenues from service, repair, arranging of financing, sales of boats, motors, accessories and trailers, but not including retail sales tax collected) exceeds Four Million Dollars ($4,000,000.00).
Appears in 1 contract
Rent. 7.1. 3.1 Tenant shall agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within thirty (30) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, reassessed and added to Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period rent or obligations arising, existing other payments on or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Knology Inc)
Rent. 7.1. Tenant shall The total rent that the Tenants agree to pay to the Landlord as Base Rent for the Premisespremises for the term is due upon execution of this lease. However, commencing on for the Term Commencement Dateconvenience of the Tenants, the sums set forth in Section 2.3. Base Rent this rent shall be paid by the Tenants to the Landlord in equal monthly installments as set forth outlined in Section 2.3the preceding pages of this lease. Rent is always due by the first of the month regardless of lease commencement date. Acceptance of partial payments from some Tenants does not relieve such Tenants from their liability for the entire rents or as to shares owned by other joint and several Tenants. On execution of this lease, each Xxxxxxx agree to pay to the Landlord the security deposit unless otherwise agreed in advance writing; said payment to be considered a reservation fee due on execution until occupancy. A late charge of 4% of the overdue rent will be assessed on the first second calendar day of the month if any rent installment is not received by the Landlord on or before the second calendar day of the month. An additional 4% of the outstanding balance will be assessed if the rent remains unpaid after the seventh calendar day of the month. Said late charges shall become due and payable immediately upon notice, and if not so paid, may be deducted by the Landlord from the security deposit as added rent. A charge of $50.00 will be made by the Landlord for each and every calendar month during check of the Term.
7.2Tenants returned for any reason. In addition If Tenants make payment of any rent installment in an amount less than that due, Landlord may accept same, but shall not be bound by any restrictive endorsement, or any statement, or otherwise to Base Rentthe effect that such payment is made in full satisfaction of the amounts then due. Notwithstanding such acceptance by the Landlord, Tenant shall pay to the Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) may avail himself of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes legal remedies he may have. If Xxxxxx makes any payments hereunder, and then fails to occupy the premises or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part fails to comply with the agreements, terms, covenants and conditions any other term or requirement of this Lease to be performed by Tenantagreement, after notice and Landlord may keep any such payments as partial liquidated damages. Notwithstanding retention of such payments as liquidated damages, the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent Landlord shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offsethave, in lawful money addition, any other rights afforded Landlord under this lease against the Tenant for breach of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writingthis lease. In addition, if the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month security and shall damage deposit are required to be paid at the then-current rate for time of execution of this lease and are not paid at such fractional month.
7.4. Except time, or if such payments are to be made pursuant to an agreed upon schedule, and such payments are not made at the time set forth in such schedule, then the Landlord reserves the right at any time after such time by which such payments should have been made, to give Tenant(s), or any of the Tenant(s), five days written notice, by certified mail, return receipt, that if the deficiencies in these amounts are not paid in full and received by the Landlord by the end of such five day notice period, then the Landlord may rent the demised premises to others and may retain any amounts paid to that date as expressly provided hereinpartial liquidated damages and, Tenant’s obligation in addition, may seek to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) enforce any other restriction on rights the Landlord may have against the Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to may, in addition, terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other periodlease.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1. Tenant shall 3.1 Xxxxxx agrees to pay to Landlord as Base the Annual Rent for in effect from time to time by paying the Premises, commencing Monthly Installment of Rent then in effect on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on or before the first day of each and every full calendar month during the Term.
7.2, except that the first full month’s rent shall be paid upon the execution of this Lease. In addition to Base Rent, Tenant The Monthly Installment of Rent in effect at any time shall pay to Landlord as additional rent be one-twelfth (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below1/12) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) Annual Rent in effect at such time. Rent for any other amounts that Tenant assumes or agrees to pay under period during the provisions Term which is less than a full month shall be a prorated portion of this Lease that are owed to Landlord, including any and all other sums that may become due by reason the Monthly Installment of any default Rent based upon the number of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3days in such month. Base Rent and Additional Rent shall together be denominated “Rent.” Rent Said rent shall be paid to Landlord, without abatement, deduction or offsetoffset and without notice or demand, in lawful money of the United States of America at the office of Landlord Rent Payment Address, as set forth in Section 2.8 on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. In If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the event next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the Term commences or ends on a day other than the first day of a calendar monthcontrary, then the Rent for such fraction of a month all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be prorated for such period on deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the basis extent of which additional expense is extremely difficult and economically impractical to ascertain. Xxxxxx therefore agrees that if rent or any other sum is not paid within 5 days of when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the number unpaid rent or other payment. The amount of days in the month and late charge to be paid by Tenant shall be paid at reassessed and added to Xxxxxx’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged rent or otherwise affected by (a) any Applicable Laws now other payments on or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to before the date on which they are due, nor do the terms of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall Section 3.2 in any way affect TenantLandlord’s obligations with respect remedies pursuant to any Article 19 of this Lease in the event said rent or other periodpayment is unpaid after date due.
Appears in 1 contract
Samples: Lease (Phenomix CORP)
Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Pro Rata Share of Building, South Campus or Project (as applicable) of any increases in (i) Real Estate Taxes (as defined in Section 9.l(c) below) of over Real Estate Taxes for the 2015 calendar year (the “Base Year”) and (ii) Operating Expenses (as defined below)) over Operating Expenses for the Base Year, (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offsetoffset (except as otherwise expressly provided in this Lease), in lawful money of the United States of America at pursuant to the office of Landlord address as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences on a day other than the first day of a calendar month or ends on a day other than the first last day of a calendar month, then the Rent for such fraction of a calendar month shall be prorated for such period on the basis of the number of days in the calendar month and shall be paid at the then-current rate for such fractional calendar month.
7.4. Except as otherwise expressly provided hereinin this Lease, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and and, except as otherwise expressly provided in this Lease, Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to xxxxx assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Appears in 1 contract
Samples: Lease (REGENXBIO Inc.)