Common use of Rent Clause in Contracts

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement (Wageworks, Inc.)

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Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) 6.01 Subtenant shall pay Operating Costs for to Sublandlord fixed minimum rent (the Expansion Space “Fixed Rent”) at the annual rate of EIGHT HUNDRED EIGHTY-ONE THOUSAND TWO HUNDRED TEN AND 00/100 ($881,210.00) DOLLARS per annum ($73,434.16 per month), which shall be payable in equal monthly installments in advance on the same terms first day of each and conditions every calendar month during the term of this Sublease, except that Subtenant shall pay, upon the execution and delivery of this Sublease by Subtenant, the sum of $60,082.16 to be applied against the first monthly installment of Fixed Rent to become due under this Sublease (which sum reflects the Free Fixed Rent Credit set forth in Section 4 6.05 hereof). In the event the Commencement Date occurs on a day other than the first day of a calendar month, the Fixed Rent for such partial calendar month shall be prorated on the basis of the number of days of the Sublease term within such calendar month, and the balance of the first month’s Fixed Rent theretofore paid shall be credited against the next monthly installment of Fixed Rent. 6.02 Subtenant shall also pay to Sublandlord “Additional Rent” consisting of all such other sums of money as shall become due from and payable by Subtenant to Sublandlord under this Sublease (for default in payment of which Sublandlord shall have the same remedies as for a default in payment of Fixed Rent). Subtenant shall also pay to Sublandlord as Additional Rent any “Subtenant Surcharges”. “Subtenant Surcharges” shall mean any and all amounts other than Fixed Rent payable by Sublandlord under the Master Lease which, by the terms of the Master Lease, become due and payable by Sublandlord to Master Landlord as additional rent or otherwise and which would not have become due and payable but for the acts, requests for services, and/or failures to act of Subtenant, its agents, officers, representatives, employees, servants, contractors, invitees, licensees or visitors under this Sublease, provided that including, but not limited to: (i) any increases in Master Landlord’s fire insurance premiums, to the extent resulting solely from any act or omission of Subtenant’s Percentage Share shall be increased appropriately , (ii) any charges to Sublandlord on account for of any additional services requested by, and furnished to, Subtenant under the addition of the Expansion Space. Master Lease, (iii) The Security Deposit will any charges which are imposed on Sublandlord, to the extent that such charges are attributable to the Subleased Premises or the use thereof by Subtenant or services or utilities provided thereto pursuant to the terms of the Master Lease or by reason of Subtenant’s request, and (iv) any additional charges to Subtenant on account of Subtenant’s use or consumption in connection with the Subleased Premises, including, without limitation, elevator, electrical or HVAC usage in excess of normal usage, provided same are charged by Master Landlord to Sublandlord pursuant to the terms of the Master Lease. Fixed Rent and Additional Rent are hereinafter sometimes collectively referred to as “Rent”. All Additional Rent shall be increased payable by an amount equal to: Subtenant on the earlier to occur of (Ai) if Subtenant delivers its Exercise Notice fifteen (15) days after written demand therefor by Sublandlord and (ii) three (3) days prior to the first (1st) anniversary date the corresponding payment of the Commencement Date, six (6) months’ Base such Additional Rent initially is payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior Sublandlord to Subtenant’s occupancy of the Expansion Space Master Landlord (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Spacein no event less than seven (7) days after written demand therefor). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease (BKF Capital Group Inc)

Rent. (i) 4.1 Tenant promises and agrees to pay Landlord at Landlord's address set forth in the Lease, or such other address as Landlord may provide to Tenant, the Base Rental and all other rent charged under this Lease without deduction or set off, for each month of the entire Lease Term. The first monthly installment of Base Rental shall be payable by Tenant to Landlord contemporaneously with the execution of the Lease, and thereafter, a monthly installment of Base Rental, as may be adjusted in accordance with the provisions of the Lease, shall be due and payable, in advance, without notice or demand on or before the first day of each succeeding calendar month during the Lease Term. The Base Rent rate(s) per rentable square foot Rental for any fractional month at the beginning or end of the Lease Term shall be prorated. 4.2 The Base Rental is determined, in part, on Landlord's estimate of Basic Costs incurred by Landlord each year in connection with its ownership, operation and management of the Building. In the event that the Basic Costs increase, or are estimated by Landlord to increase, above the levels charged to Landlord on the Date of the Lease, Landlord shall charge to Tenant and Tenant agrees to pay as additional rental Tenant's Pro Rata Share of any such increases in Basic Costs in accordance with the provisions of Exhibit "C". 4.3 The Security Deposit shall be paid to Landlord contemporaneously with the execution of the Lease. Landlord shall hold the Security Deposit without liability for interest and as security for the Expansion Space shall be performance by Tenant of Tenant's covenants and obligations under the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased PremisesLease, 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 Xxxxxx. Upon the intent occurrence of Sublandlord any Event of Default by Xxxxxx, Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrearage of rent and Subtenant that any other damage, injury, expense or liability caused to Landlord by such Event of Default. Following any such application of the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant Security Deposit, Tenant shall pay Operating Costs for to Landlord on demand the Expansion Space on amount so applied in order to restore the same terms and conditions set forth Security Deposit to its original amount. If Tenant is not then in Section 4 default of this SubleaseLease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months any remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion balance of the Security Deposit prior shall be returned by Landlord to Subtenant’s occupancy Tenant upon termination of the Expansion Space (but Subtenant’s failure Lease. If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to timely deliver such increased portion the transferee and thereafter shall have no further liability for the return of the Security Deposit Deposit. 4.4 Tenant hereby acknowledges that late payment to Landlord of rent due hereunder will cause Landlord to incur costs and inconvenience not postpone contemplated by the commencement Lease, the exact amount of Subtenant’s obligation which will be extremely difficult to ascertain. If any rent due from Tenant is not received by Landlord or Landlord's designated agent within ten (10) days after its due date, then Tenant shall pay to Landlord as a late charge ten percent (10%) of such overdue amount, plus any attorney's fees incurred by Landlord by reason of Tenant's failure to pay Base Rent for rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the Expansion Spacecost that Landlord will incur by reason of Tenant's late payment. Xxxxxxxx's acceptance of such late charges shall not constitute a waiver of Xxxxxx's default with respect to such overdue amount or estop Landlord from exercising any of the other rights and remedies granted hereunder. 4.5 All payments required of Tenant under the Lease shall bear interest, beginning on the day after the due date until paid at the lesser of twelve percent ( 12 %) per annum or the maximum lawful rate ("Default Interest"). Any In no event, however, shall the charges permitted under this paragraph or elsewhere in the Lease, to the extent the same are considered to be interest under applicable law, exceed the maximum lawful rate of interest. 4.6 No payment by Tenant or receipt by Landlord of a lesser amount than the rent due under this lease shall be deemed to be other than on account of the earliest rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction, and Landlord may accept such additional Security Deposit will be subject check or payment without prejudice to reduction Landlord's right to an amount equal recover the balance of such rent or to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovepursue any other remedy provided in this lease or at law or in equity.

Appears in 1 contract

Samples: Office Lease (Phymed Inc)

Rent. (ia) The Base Rent rate(sbasic rent upon the commencement of the Sublease (the “Basic Rent”) due hereunder from Subtenant to Sublandlord shall be One Hundred and Nine Thousand, One Hundred and Sixty Five Dollars ($109,165) per rentable square foot annum, payable in equal monthly installments of Nine Thousand and Ninety Seven Dollars and Ten Cents ($9,097.08), each such installment being payable in advance on or before the first day of each calendar month throughout the Term. In the event the Term of the Sublease starts other than on the first day of a month, the Basic Rent for the Expansion Space such partial month shall be prorated and calculated at a daily rate. On the same as first anniversary of the Base Sublease Commencement Date and continuing on each anniversary thereafter, Subtenant’s Basic Rent rate(sshall be increased by four and one half percent (4.5%) per rentable square foot for There shall be no other escalations or pass-throughs to Subtenant during the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesSublease Term. (iib) Basic Rent shall include, and Subtenant shall pay Operating Costs for not be separately responsible for, the Expansion Space on the same terms and conditions set forth Additional Rent (as defined in Section 4 3 of the Lease) or other operating expenses or real estate taxes due under the Lease. (c) All rent due and payable by Subtenant under this Sublease shall be made payable to Sublandlord and shall be delivered to its offices or to such other place as Sublandlord may designate by written notice to Subtenant. All such rent shall be payable without notice, demand, deduction, counterclaim or offset. Notwithstanding any provision of this Sublease, provided that Subtenant’s Percentage Share Sublandlord shall be increased appropriately continue to account pay to Landlord all rent as and when due under the Lease (including, without limitation, all rent under the Lease for the addition of the Expansion SpaceSublet Premises). (iiid) The Security Deposit will Notwithstanding anything herein to the contrary, in the event of a default by Sublandlord under the Lease, Sublandlord hereby irrevocably authorizes and directs Subtenant to pay to Landlord, upon demand and notice from Landlord of the right to receive such rent and other amounts, all of the rent and other amounts payable and hereafter becoming payable under this Sublease. Subtenant shall rely upon such demand and notice, and Sublandlord shall have no right or claim against Subtenant for any such rent and other amounts paid to Landlord pursuant thereto. In no event shall Landlord be increased by an amount equal to:obligated to make such demand for direct payment of such amounts from Subtenant. (Ae) if If Subtenant delivers its Exercise Notice prior fails to pay rent hereunder within five (5) days after such rent becomes due and payable, Subtenant shall pay to Sublandlord a late charge of five percent (5%) of the amount of such overdue rent. In addition, any such late rent payment shall bear interest from the date such rent became due and payable to the first (1st) anniversary date of payment thereof by Subtenant at the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; orrate of 5% per annum. (Bf) if Simultaneously with the execution of this Sublease, Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Dateshall deposit with Sublandlord, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as form of cash, a security deposit in the date Subtenant delivers its Exercise Notice and the denominator amount of which is forty-eight (48) $9,097.08 (the “FractionSecurity Deposit”), which shall be held by Sublandlord without obligation for interest, as security, for the performance of Subtenant’s obligations and covenants under this Sublease. It is expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Sublandlord’s damages in case of an event of default by Subtenant. If an event of default by Subtenant will deliver such increased shall occur or if Subtenant fails to surrender the Sublet Premises in the condition required by this Sublease, Sublandlord shall have the right (but not the obligation), and without prejudice to any other remedy which Sublandlord may have on account thereof, to apply all or any portion of the Security Deposit prior to Subtenant’s occupancy cure such default or to remedy the condition of the Expansion Space (but Subtenant’s failure Sublet Premises. If Sublandlord so applies the Security Deposit or any portion thereof before the expiration date or earlier termination of this Sublease, Subtenant shall deposit with Sublandlord, upon demand, the amount necessary to timely deliver such increased portion restore the Security Deposit to its original amount. Although the Security Deposit shall be deemed the property of Sublandlord, any remaining balance of the Security Deposit will not postpone shall be returned to Subtenant within thirty (30) days after the commencement Expiration Date or earlier termination of this Sublease that all of Subtenant’s obligation obligations under this Sublease have been fulfilled. Sublandlord shall conduct a “Post Move Out Inspection” of the Sublet Premises within fifteen (15) days after the Expiration Date or earlier termination of this Sublease. Notwithstanding anything herein to pay Base Rent the contrary, Landlord shall not be responsible in any way for maintaining, returning or applying the Expansion Space). Any such additional Security Deposit hereunder and Subtenant expressly waives any claims against Landlord regarding the Security Deposit. (g) To assist Subtenant with offsetting relocation, construction and other related expenses, Sublandlord will be subject to reduction to an amount equal to fully axxxx the first two (2) months’ Base Rent for the Expansion Spacemonths rent; therefore, asrent commencement will begin September 1, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above2005.

Appears in 1 contract

Samples: Sublease Agreement (Global Secure Corp.)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (iia) Subtenant shall pay Operating Costs for to Sublandlord, throughout the Expansion Sublease Term, 57.33% of the "Fixed Rent" per annum provided to be paid with respect to the Additional Space pursuant to the Amendment (the "Base Rent"). The Base Rent shall be payable by Subtenant to Sublandlord, in advance, in equal consecutive monthly installments which are due and payable on or before the same terms date that is five (5) business days preceding the first day of each calendar month during the Sublease Term. (b) Subtenant shall also pay to Sublandlord, throughout the Sublease Term as additional rent ("Additional Rent"), all additional rent and conditions other charges due under the Lease which is attributable to the Subleased Premises. The additional rent and other charges which is attributable to the Subleased Premises shall be (i) 57.33% of the amounts set forth in Section 4 of this Subleasethe Amendment, provided that Subtenant’s Percentage Share and (ii) to the extent not set forth in the Amendment shall be increased appropriately to account for determined by dividing the addition total payments payable by Sublandlord under the Lease by the rentable square feet of the Expansion SpacePremises and multiplying the quotient by the number of rentable square feet in the Subleased Premises. Subtenant shall be responsible for both any estimated payments of Additional Rent and any reconciliation payments of Additional Rent which are payable by Sublandlord pursuant to the Lease. Appropriate prorations shall be made with respect to any partial calendar years included in the Sublease Term. Sublandlord shall notify Subtenant of any such estimated amounts and any reconciliation amounts promptly upon Sublandlord's receipt of notice from Landlord of the amounts due with respect to the entire Premises. Subtenant shall make all Additional Rent payments to Sublandlord upon demand. (iiic) Subtenant shall be solely responsible for any costs or charges attributable to the Subleased Premises during the Sublease Term for items such as damage repair, extra or after-hours HVAC service, extra janitorial services, excess electrical consumption, light bulb replacement and the like. Subtenant shall also pay any and all tax due with respect to Rent (as such term is hereinafter defined) pursuant to the laws of New York and/or any political subdivision thereof; provided, however, that Subtenant shall not be responsible for the payment of any tax levied on Sublandlord that is in the nature of an income tax. (d) The Security Deposit will be increased Base Rent, Additional Rent and all charges due by an amount equal to: Subtenant under subparagraph (Ac) if Subtenant delivers its Exercise Notice prior of this Article "3" are collectively referred to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term this Sublease as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above"Rent".

Appears in 1 contract

Samples: Sublease Agreement (Modem Media Poppe Tyson Inc)

Rent. 1.1 Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the “Base Rent”). (b) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year. (c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year. (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as “Tenant’s Monthly Utility Charge”, and all such amounts shall constitute rent hereunder). (i) The Base Rent rate(sAll electricity directly serving the Premises (“Direct Electrical Costs”) per rentable square foot for the Expansion Space shall be metered or submetered and Tenant shall pay, as monthly rental, the same actual cost (without mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord’s election, as a payment directly to the Base Rent rate(sentity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent days of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesLandlord’s delivery of an invoice to Tenant therefor. (ii) Subtenant With respect to all utility costs for the Premises other than Direct Electrical Costs (collectively, “Other Utility Costs”), Landlord shall have the right, from 1131701.06/SF372493-00050/1-31-20/pwn/pwn -4- time to time, to equitably allocate some or all of such Other Utility Costs among different portions or occupants of the Building (“Cost Pools”), in Landlord’s reasonable discretion. Such Cost Pools may include, but shall not be limited to, office space tenants, residential space occupants, and retail space tenants of the Building. The utility costs within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner (without markup by Landlord). (e) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated “additional rent.” As used in this Lease, “rent” shall mean and include all Base Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. 1.2 The additional rent payable pursuant to sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof shall be calculated and paid in accordance with the following procedures: (a) On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord’s estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month during such ensuing calendar year, Tenant shall pay Operating Costs to Landlord, as monthly rent, one-twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior calendar year’s estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the Expansion Space current calendar year will vary from Landlord’s estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such calendar year. If Landlord delivers its estimate after the first day of a calendar year, or if Landlord revises its estimate for a calendar year, then subsequent payments by Tenant for such calendar year shall be based on such late or revised estimate, as the case may be, with an appropriate adjustment to the amount of such subsequent payments such that, prior to the end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord’s entire estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year. (b) Within a reasonable time after the end of each calendar year, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statement. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord’s right to receive, and Tenant’s obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord’s office in the Building or at such other location as Landlord may designate, for the purpose of verifying the information in such statement; provided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than one hundred eighty (180) days after Landlord shall have delivered the written statement pertaining to such period. If Xxxxxx wishes to dispute an amount shown on the same terms annual statement, Tenant shall give Landlord written notice of such dispute within one hundred eighty (180) days after Xxxxxx’s receipt of the annual statement. If Tenant does not give Landlord such notice within such time, Tenant shall have waived its right to dispute the annual statement. Promptly after the receipt of 1131701.06/SF372493-00050/1-31-20/pwn/pwn -5- such written notice from Tenant, Landlord and conditions Tenant shall endeavor in good faith to resolve such dispute. If such efforts do not succeed, Xxxxxx shall have the right to cause a nationally recognized independent certified public accountant designated by Tenant, to be paid on an hourly and not a contingent fee basis, to audit the items questioned by Tenant in its original notice contesting the annual statement, provided that Tenant (i) notifies Landlord in writing of Tenant’s intention to exercise such audit right within thirty (30) days after the relevant initial written notice from Tenant to Landlord with respect to such dispute, (ii) actually begins such audit within thirty (30) days after the notice from Tenant to Landlord advising Landlord that Tenant will require an audit (provided that such 30-day period within which the audit must be commenced shall be extended by the length of any delay in the commencement of the audit that is caused by Landlord) and (iii) diligently pursues such audit to completion as quickly as reasonably possible. Xxxxxxxx agrees to make available to Xxxxxx’s auditors, at Landlord’s office in San Francisco and/or at Landlord’s office in the Building (at Landlord’s sole option), the books and records relevant to the audit for review and copying, but such books and records may not be removed from Landlord’s offices. Tenant shall bear all costs of such audit, including Landlord’s actual copying costs and personnel costs, if any incurred in connection with such audit (provided that, prior to incurring any personnel costs in connection with any such audit, Landlord shall advise Tenant of Landlord’s anticipated personnel costs so that Tenant may, at Tenant’s option, modify Tenant’s activities with regard to such audit in order to preclude the need for Landlord to incur such personnel costs), except that, if the audit (as conducted and certified by the auditor) shows an aggregate overstatement of Operating Expenses of five (5%) or more, and Landlord’s auditors concur in such findings (or, in the absence of such concurrence, such overstatement is confirmed by a court of competent jurisdiction or such other dispute resolution mechanism as to which the parties mutually agree in writing), then Landlord shall bear all costs of the audit. If the agreed or confirmed audit shows an underpayment of Operating Expenses by Xxxxxx, Tenant shall pay to Landlord, within thirty (30) days after the audit is agreed to or confirmed, the amount owed to Landlord, and, if the agreed or confirmed audit shows an overpayment of Operating Expenses by Xxxxxx, Landlord shall reimburse Tenant for such overpayment within thirty (30) days after the audit is agreed to or confirmed. Notwithstanding anything to the contrary set forth above, Xxxxxx’s audit rights under this section 3.2(b) shall be conditioned upon (i) Tenant having paid the total amounts billed by Landlord under this Article 3 within the time stipulated herein for payment (including, without limitation, the contested amounts) and (ii) Tenant executing, prior to the commencement of the audit, a confidentiality agreement in form and substance reasonably satisfactory to Landlord in which Tenant shall agree to keep confidential, and not disclose to any other party, the results of any such audit or any action taken by Landlord in response thereto. (c) If the Lease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof applicable to the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty-five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination. 1.3 Tenant shall pay all monthly installments of Base Rent and monthly installments of Landlord’s estimates of amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof (collectively, “Monthly Rent”) to Landlord, in advance, on or before the first day of each and every calendar month during the Lease Term, without notice, demand, deduction or offset except as otherwise expressly set forth in Section 4 of this SubleaseLease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition in lawful money of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior United States of America. Landlord instructs Tenant to pay all such Monthly Rent to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining address specified therefor in the Term Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of the date Subtenant delivers Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”)sole discretion, may elect. Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of SubtenantIf Xxxxxx’s obligation to pay Base Rent hereunder commences on a day other than the first day of a calendar month, or if the Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payable for 1131701.06/SF372493-00050/1-31-20/pwn/pwn -6- such partial month shall be appropriately prorated on the Expansion Space)basis of a thirty (30)-day month. Any such additional Security Deposit will be subject Upon signing this Lease, Tenant shall pay to reduction to Landlord an amount equal to two (2) months’ the Base Rent for the Expansion Spacefirst full calendar month of the Term in which monthly Base Rent is payable, as, when and if which amount Landlord shall apply to the initial Security Deposit is reduced pursuant to Section 5(b) aboveBase Rent for such first full calendar month.

Appears in 1 contract

Samples: Lease (Dexcom Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for On the Expansion Space date that Lessee executes this Lease, Lessee shall deliver to Lessor the original executed Lease, the Security Deposit, and all insurance certificates evidencing the insurance required to be the same obtained by Lessee under Paragraph 12 of this Lease. Lessee agrees to pay Lessor, without prior notice or demand, or abatement, offset, deduction or claim, except as otherwise provided herein, the Base Rent rate(s) per rentable square foot for the initial Subleased Premises described on Page 1, payable in advance at Lessor's address shown on Page 1 on the date first day of each month throughout the term for of the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that Lease. In addition to the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant set forth on Page 1, Lessee shall pay Operating Costs for the Expansion Space Lessor in advance and on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary day of each month throughout the Commencement Dateterm of this Lease (including any extensions of such term), six as additional rent Lessee's share, as set forth on Page 1, of Operating Expenses, Tax Expenses, Common Area Utility Costs, administrative expenses and Utility Expenses, as specified in Paragraphs 6.A., 6.B., 6.C. and 7 of this Lease, respectively. Additionally, Lessee shall pay to Lessor as additional rent hereunder, within thirty (630) months’ Base Rent initially payable for days after Lessor's written demand therefore (which demand may be made by delivery of a xxxx or statement to Lessee), any and all out-of-pocket costs and expenses incurred by Lessor to enforce the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary provisions of the Commencement Datethis Lease, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fractionincluding, the numerator but not limited to, costs associated with any proposed assignment or subletting of which is the number of complete all or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased any portion of the Security Deposit prior Premises by Lessee, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, reasonable attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to Subtenant’s occupancy the aggregate of the Expansion Space (but Subtenant’s failure Base Rent, Lessee's share of Operating Expenses, Tax Expenses, Insurance Expenses, Administrative Expenses and Utility Expenses, Enforcement Expenses and all other amounts described herein as "additional rent.". If Lessor permits Lessee to timely deliver such increased portion occupy the Premises without requiring Lessee to pay rental payments for a period of time, the waiver of the Security Deposit will requirement to pay rental payments shall only apply to waiver of the Base Rent and Lessee shall otherwise perform all other obligations of Lessee hereunder, including, but not postpone limited to paying to Lessor any and all amounts considered additional rent, such as Lessee's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, Utility Expenses, and administrative expenses. If, at any time, Lessee is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Lessor of Lessee's requirement to pay rental payments shall be null and void and Lessee shall immediately pay to Lessor all rental payments waived by Lessor. The Rent for any fractional part of a calendar month at the commencement or termination of Subtenant’s obligation to pay Base the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon the Expansion Space)actual days in the month. Any such additional Security Deposit will The prorated Rent shall be subject to reduction to an amount equal to two (2) months’ Base Rent for paid on the Expansion SpaceCommencement Date and the first day of the calendar month in which the date of termination occurs, as, when and if as the initial Security Deposit is reduced pursuant to Section 5(b) abovecase may be.

Appears in 1 contract

Samples: Lease Agreement (Burke Industries Inc /Ca/)

Rent. (ia) Subtenant shall pay to Sublandlord during the Sublease Term fixed rent (“Sublease Base Rent”) for the Subleased Premises at the rate of $541,280 per annum ($45,106.67 per month) from the Sublease Commencement Date through and including the Sublease Expiration Date. (b) The first monthly installment of Sublease Base Rent rate(s) per rentable square foot for in the Expansion Space amount of $45,106.67 shall be due and payable by Subtenant upon execution of this Sublease. If the same as Sublease Commencement Date occurs on the first day of a calendar month, then such payment shall be credited by Sublandlord to the first monthly installment of Sublease Base Rent rate(s) per rentable square foot for payable under this Sublease. If the initial Subleased Premises Sublease Commencement Date is not the first day of a calendar month, then on the date the term for the Expansion Space commencesCommencement Date, and Subtenant shall increase at such times and in such amount as pay to Sublandlord Sublease Base Rent for the initial period from the Sublease Commencement Date through the last day of the month in which the Sublease Commencement Date occurs, and the payment made by Subtenant upon the execution and of this Sublease shall be credited against the second monthly installment of Sublease Base Rent payable under this Sublease. (c) With respect to the Subleased Premises, it being during the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Sublease Term, Subtenant shall pay Operating Costs to Sublandlord as Sublease Additional Rent (as hereinafter defined) any items specified in the Lease to be additional rent and any other sums of money, costs, charges, adjustments, increases, rent or additional rent payable by Sublandlord to Landlord under the Lease attributable to the Subleased Premises or the use and occupancy thereof by Subtenant, provided, that, for the Expansion Space on purposes of calculating the same terms amount of Sublease Additional Rent payable by Subtenant to Sublandlord in respect of Taxes and conditions set forth in Section 4 of this SubleaseOperating Expenses, provided that Subtenant(1) “Tenant’s Percentage Share Proportionate Share” shall be increased appropriately deemed to account for be 2.37493% (subject to adjustment in the addition event of any reduction in the size of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to Building or the first (1st) anniversary Subleased Premises as a result of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Spacea casualty or condemnation); or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease (Cross Country Healthcare Inc)

Rent. 3.1. The rent (i"Rent") The Base Rent rate(s) per rentable square foot for payable during the Expansion Space Term under this Sublease shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition consist of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal tofollowing: (Aa) if Subtenant delivers its Exercise Notice prior to the first base rent (1st"Base Rent") anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two the percentage calculated by dividing the Master Office Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Office Lease (2the "Master Office Lease Percentage") months’ Base Rent for the Expansion Spaceof any minimum rent, asincreases in minimum rent and any other fees, when charges and if the initial Security Deposit is reduced amounts payable by Sublessor, as tenant, to Landlord pursuant to Section 5(b3 of the Master Office Lease, and the percentage calculated by dividing the Master Storage Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Storage Lease (the "Master Storage Lease Percentage") of any minimum rent, increases in minimum rent and any other fees, charges and amounts payable by Sublessor, as tenant, to Landlord pursuant to Section 2 of the Master Storage Lease (the term "Sublease Percentage" shall hereinafter be used to collectively refer to (i) the Master Office Lease Percentage with respect to that portion of the Premises being leased by Sublessor pursuant to the Master Office Lease, and (ii) the Master Storage Lease Percentage with respect to that portion of the Premises being leased by Sublessor pursuant to the Master Storage Lease), which amounts described in this Section 3.1(a) shall be payable and calculated on a monthly basis and shall be payable by Sublessee to Sublessor. In the event that the size of the premises leased by Sublessor pursuant to the Master Office Lease and/or the size of the premises leased by Sublessor pursuant to the Master Storage Lease are expanded, decreased or otherwise altered, the Master Office Lease Percentage and the Master Storage Lease Percentage (as applicable) shall be recalculated as follows: (i) with respect to any alteration in the size of the premises leased by Sublessor pursuant to the Master Office Lease, by dividing the Master Office Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Office Lease as so altered, and (ii) with respect to any alteration in the size of the premises leased by Sublessor pursuant to the Master Storage Lease, by dividing the Master Storage Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Storage Lease as so altered; (b) additional rent ("Additional Rent") in an amount equal to (i) the Sublease Percentage of Tenant's Share of Taxes and Operating Expenses (as such term is defined in the Master Leases), payable and calculated at such times, in the manner and in accordance with the terms and provisions of Section 4 of the Master Office Lease and Section 14 of the Master Storage Lease, including, without limitation, payment of the Sublease Percentage of Tenant's Estimated Share (as such term is defined in the Master Leases) on the first day of each calendar month, (ii) The Sublease Percentage of any and all other sums payable by Sublessor to Landlord under the Master Leases, and (iii) any and all other sums payable by Sublessee to Sublessor under this Sublease. 3.2. Base Rent shall be payable by Sublessee on the first day of each calendar month in an amount, calculated in accordance with Section 3.1(a) above. Additional Rent shall be payable by Sublessee at such times provided for under Section 3.1(b) above. The Base Rent and Additional Rent shall be paid by Sublessee to Sublessor at the office of Sublessor set forth above or such other place as Sublessor may designate, without prior notice or demand therefor and without any abatement, deduction or setoff. Sublessor may at any time and from time to time by notice direct Sublessee to pay all or any portion of the Base Rent and Additional Rent described in Section 3.1 on Sublessor's behalf directly to the Landlord at such address as Sublessor may at any time and from time to time direct. 3.3. Sublessee shall pay all Rent when due, in lawful money of the United States which shall be legal tender for the payment of all debts, public and private, at the time of payment. All sums due and payable as Rent shall from and after three (3) days of the due date thereof bear interest at the higher of (i) 5% above the prime rate published in the Wall Street Journal, if available (and if not available, then such comparable substitute rate as may be selected by Sublessor), from time to time, and (ii) the maximum legal rate of interest permitted from time to time under law to be charged, provided, however, that no further interest shall be payable upon such interest. All interest accrued under this subsection as hereinabove provided shall be deemed to be Additional Rent payable hereunder and due at such time or times as the rent with respect to which such interest shall have accrued shall be payable under this Sublease.

Appears in 1 contract

Samples: Sublease (Nuveen John Company)

Rent. (ia) The Base Rent rate(s(specified in Section 1.1 hereof) per rentable square foot for the Expansion Space and any additional rent or other charges payable pursuant to this Lease shall be the same payable by Sublessee to Sublessor at Sublessor's mailing address (or such other place as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesSublessor may from time to time designate by notice to Sublessee). (iib) Subtenant shall pay Operating Costs for Rent (including any payment required pursuant to Section 1.1 of Sublessee's Prorata Share of all estimated monthly installments on account of additional rent payable by Sublessor to Prime Lessor under the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share Prime Lease) shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to payable in advance on the first (1st) anniversary day of each and every calendar month during the Commencement Dateterm of this Sublease. Sublessor shall promptly deliver to Sublessee (i) a copy of any year end statement of operating expenses that Sublessor receives from Prime Lessor, six and (6ii) months’ Base Rent initially payable for a copy of documentation related to tax bills received by Sublessor from Prime Lessor. Promptly after Sublessor and Prime Lessor have made the Expansion Space; orappropriate adjustments among themselves on account of such actual operating expenses and real estate taxes, the amounts paid by Sublessee as its Prorata Share of such estimated installments shall be adjusted between Sublessor and Sublessee. The parties' obligations hereunder to make such adjustments shall survive the expiration or termination of this Sublease. (Bc) if Subtenant delivers its Exercise Notice following the first (1st) anniversary All items of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining additional rent other than those items in the Term as nature of pass-throughs payable by Sublessor to Prime Lessor under the date Subtenant delivers its Exercise Notice Prime Lease shall be due and payable within thirty (30) days after receipt by Sublessee of a statement, in reasonable detail, showing the denominator costs incurred by Sublessor and calculating Sublessee's appropriate share thereof; upon request from Sublessee, Sublessor shall furnish Sublessee with copies of which is forty-eight invoices, purchase orders or other documentary evidence of such costs. (48d) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space)any partial month shall be paid by Sublessee to Sublessor at such rate on a prorata basis. Any such additional Security Deposit will Other charges payable by Sublessee on a monthly basis, as hereinafter provided, shall likewise be subject to reduction prorated. (e) Sublessee shall be entitled to an amount equal equitable share of all rent abatements which Sublessor actually receives under the Prime Lease and which are equitably allocable to two (2) months’ Base the Premises. All Rent for the Expansion Spaceand other amounts due under this Sublease shall be paid without demand, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveoffset or deduction.

Appears in 1 contract

Samples: Sublease (Momenta Pharmaceuticals Inc)

Rent. (i) The 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent rate(s) per rentable square foot and Additional Rent due for the Expansion Space 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 the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises due and payable in advance on the date first day of each calendar month without notice or demand, provided that the term for the Expansion Space commences, and shall increase at such times and in such amount as installment of Base Rent for the initial Subleased Premisesfirst full calendar month of the Term following any abatement period as provided Section 1 of Exhibit F attached hereto, it being and the intent first monthly installment of Sublandlord Additional Rent for Expenses (defined in Exhibit B) due under this Lease, shall be payable no later than the Commencement Date. All other items of Rent not otherwise due under this Lease in monthly installments shall be due and Subtenant payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent (i.e., Rent that is not received by Landlord on the Base Rent rate(s) per rentable square foot date due, without regard to any notice and cure period provided in Article 18 below or otherwise), provided that Tenant shall be entitled to a grace period of 5 days for the Expansion Space first late payment of Rent in a calendar year. In addition, past due Rent (again, without regard to any notice and cure period provided in Article 18 below or otherwise) shall always be accrue interest at an annual rate equal to the same lesser of (i) 4 percentage points above the prime rate of interest published from time to time in the Wall Street Journal, or if the Wall Street Journal discontinues publishing such a rate, two percentage points in excess of the published prime rate or other equivalent reference rate of interest in a publication widely accepted as a successor to the Wall Street Journal as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. publisher of reference rates, or (ii) Subtenant the maximum contract interest rate per annum permitted by applicable law. Landlord’s acceptance of less than the correct amount of Rent shall pay Operating Costs be considered a payment on account of the earliest Rent due, but any late payment fees and/or administration fees due under this Lease in the event of late payment shall still be applicable to the entirety of the payment then due, notwithstanding such partial payment. Rent for any partial month during the Expansion Space Term shall be prorated, based on the same terms and conditions set forth actual number of days in Section 4 of this Sublease, provided that Subtenant’s Percentage Share such month. No endorsement or statement on a check or letter accompanying payment shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by considered an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice accord and the denominator of which is forty-eight (48) (the “Fraction”)satisfaction. Subtenant will deliver such increased portion of the Security Deposit prior to SubtenantTenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation covenant to pay Base Rent is independent of every other covenant in this Lease. If Landlord received 2 or more checks from Tenant which are returned by Tenant’s bank for the Expansion Space)insufficient funds, Tenant agrees that all future checks shall be either bank certified, cashiers’ or treasurers’ checks. Any such additional Security Deposit will All bank service charges resulting from bad checks shall be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveborne by Tenant.

Appears in 1 contract

Samples: Office Lease Agreement (Aspirity Holdings LLC)

Rent. (i) The On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent rate(s) per rentable square foot for Rent, the Expansion Space shall Security Deposit, and all insurance certificates evidencing the insurance required to be the same as obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord, without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent rate(s) per rentable square foot for the initial Subleased Premises described on Basic Lease Information Page, payable in advance at Landlord's address shown on Page 1 on the date first day of each month throughout the term for of the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that Lease. In addition to the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant set forth on Page 1, Tenant shall pay Operating Costs for the Expansion Space Landlord in advance and on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary day of each month throughout the term of this Lease (including any extensions of such term), as Additional Rent Tenant's share, as set forth on Page 1, of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses, and Administrative Expenses all in the manner as specified in Sections 6.1, 6.2, 6.3, 6.4 and 7 of this Lease, respectively. Additionally, Tenant shall pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Premises by Tenant, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant hereunder, including, but not limited to paying to Landlord any and all amounts considered additional rent, such as Tenant's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses, and Administrative Expenses. If, at any time, Tenant is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Landlord of Tenant's requirement to pay rental payments shall be null and void and Tenant shall immediately pay to Landlord all rental payments waived by Landlord. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary . The Termination Date of the Commencement Date, (x) six months Base Rent payable for Lease shall always be the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as last day of the date Subtenant delivers its Exercise Notice and calendar month in which the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveLease Term commenced.

Appears in 1 contract

Samples: Lease Agreement (Natrol Inc)

Rent. Sublessee shall pay to Sublessor rent for the Subleased ---- Premises equal to all rent payable by Sublessor under the Prime Lease (iexcluding rent payable pursuant to Rider No. 2 of the Prime Lease) The Base Rent rate(s) per multiplied by a fraction with the numerator being the number of rentable square foot for feet in the Expansion Space Subleased Premises and the denominator being the total number of rentable square feet of the Premises under the Prime Lease (excluding space leased pursuant to Rider No. 2 of the Prime Lease) ("Sublessee's Share"). Sublessee's Share of base rent payable to Sublessor shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises monthly sum of $31,291.30 payable in advance on the date first day of each month, commencing with the term for the Expansion Space commencesfirst payment on _____________, 1999 and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space continuing on the same terms and conditions set forth in Section 4 first day of this Subleaseeach calendar month thereafter until September 1, provided that Subtenant’s Percentage Share 1999, on which date such monthly sum shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will $32,982.72 and such sum shall be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior payable to Sublessor on the first (1st) anniversary day of each calendar month thereafter without demand so long as this Sublease remains in effect. The rent due for any fractional month during the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary term of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is this Sublease shall be prorated based on the number of complete days in such month. Sublessee shall pay as additional rent Sublessee's Share of operating expenses and any other payment of rent or partial calendar months remaining in other payments required to be made by Sublessor under the Term as terms of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”)Prime Lease. Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation Additionally, Sublessee agrees to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to Sublessor an amount equal to two (2) months’ Base Rent Sublessee's Share of Sublessor's total expenses for security services incurred with respect to the Expansion SpacePremises under the Prime Lease. The initial monthly payment for security services shall be $2,841.59. Such sum shall be payable on the due date of the first monthly installment of rent payable to Sublessor under this Sublease and security expenses for fractional months shall be prorated. Upon any change in the cost of security services, as, when Sublessor shall notify Sublessee of such change and if Sublessee shall pay Sublessee's Share of such revised amount from the initial Security Deposit is reduced date of change in the cost of such services and Sublessee shall pay to Sublessor the revised monthly amount for security services. All sums payable by Sublessee to Sublessor pursuant to Section 5(b) abovethis Paragraph 3 are hereinafter referred to as "rent."

Appears in 1 contract

Samples: Sublease Agreement (Lifepoint Hospitals Inc)

Rent. Tenant shall pay to Landlord without demand, deduction or set off, for each month of the entire Lease term Basic Rental, the Common Area Maintenance Fee and Utility Charges (Tenant's share of commonly billed utilities) (all as set out in paragraph 1). Payments are due at Landlords then current physical location or at the Post Office Box designated by Landlord in writing from time to time. Until further notice, payments are due at the address set out in this Lease document. Tenant shall, contemporaneously with the execution of this Lease, pay Landlord the following: (i) the security deposit set out in paragraph (1) above and (ii) an initial full months installment of rent (as defined in paragraph 1 (e)). A monthly installment in the amounts defined in paragraphs 1(e) above shall be due and payable on or before the first day of each succeeding calendar month during the Lease term. Rent for any fractional month at the beginning or end of the Lease term shall be prorated. The Base Rent rate(s) per rentable square foot security deposit shall be held by Landlord without liability for interest and as security for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, performance by Tenant of Tenant's covenants and shall increase at such times and in such amount as Base Rent for the initial Subleased Premisesobligations under this Lease, it being the intent of Sublandlord and Subtenant expressly understood that the Base Rent rate(s) per rentable square foot deposit shall not be considered an advance payment of any rental or a measure of Landlord's damages in case of default by Tenant. If Tenant fails to timely pay any sums due under this Lease or defaults in its obligations under this Lease. Landlord may, from time to time, without prejudice to any other remedy, use the security deposit to the extent necessary to make good any arrearages of Basic Rental, Common Area Maintenance Fee, Utility Charges, Additional Rental or any, damage, injury, expenses or liability to Landlord. Following any such application of the security deposit, Tenant shall immediately pay to Landlord, on demand, the amount so applied in order to restore the security deposit to its original amount, 30 days after termination of this Lease and vacating of the Premises by Tenant, Landlord shall return any remaining balance of the security deposit to Tenant so long as Tenant has full performed its obligations under this Lease and provided Landlord with written notice of its forwarding address. 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 Expansion Space shall always be return of such security deposit. Time is of the same essence as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 to all required payments by Tenant under any provision of this SubleaseLease. If any monthly installment of Basic Rental, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition Common Area Maintenance Fee, or the Utility Charge is not received by the Landlord on or before the 5th day of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior month for which said monthly rental installment is due, a service charge of 10% of the delinquent installment shall become due and payable in addition to the first (1st) anniversary of monthly installment owed. The date that a check is dated or mailed is not relevant in determining Tenant's liability for a late fee; Landlords accounting records are the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as determining record of the date Subtenant delivers its Exercise Notice of receipt of a rent payment. The service charge is for the purpose of reimbursing Landlord for the extra costs and expenses incurred in connection with the denominator handling and processing of which late monthly rental. If the delinquent amount is forty-eight (48) (not paid by the “Fraction”). Subtenant will deliver such increased portion 1st day of the Security Deposit prior to Subtenant’s occupancy of following month, then the Expansion Space delinquent amount (but Subtenant’s failure to timely deliver such increased portion of not including the Security Deposit will not postpone service charge) shall bear interest at the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two Lesser of: (1) 18 per cent per annum, or (2) months’ Base Rent the maximum lawful contract rate, such interest shall begin to accrue on the 1st of the month following the delinquency and continue until payment of the delinquent amount is made. If any check that is tendered to Landlord by Tenant for any charges due under this Lease is returned to Landlord by Tenants financial institution for any reason (including but not limited to absence of Tenants signature, insufficient funds, stop payment, or closed account) then, in addition to any other liability of Tenant for the Expansion Spaceamount of the check. Tenant shall be liable to Landlord for a service fee of $50.00 for each returned check. Landlord has no obligation to redeposit any check that is returned for any reason and Tenant shall immediately cure the non-payment that has resulted from the returned check. If Landlord receives 2 or more returned checks during the term of this Lease, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovethen Landlord may require that all future payments from Tenant be made by cashiers check.

Appears in 1 contract

Samples: Lease Agreement (Ramp Corp)

Rent. (i) The Base Rent rate(s) per rentable square foot Rental and Additional Rental under the Primary Lease is greater than the Base Rental and Additional Rental that is due under this Sublease. The parties agree that it is the Sublessor’s sole responsibly to pay the shortfall in Base Rental and Additional Rental to the Landlord and that Sublessor shall pay such shortfall timely as set forth in the Primary Lease. Sublessee shall not be in default of this Sublease or the Primary Lease as long as it pays direct to the Landlord the Base Rental and Additional Rental that is due for the Expansion Space Subleased Premises under this Sublease. a) During the period commencing upon Commencement Date and terminating with this Sublease, Sublessee covenants to pay to Landlord, without any demand or notice and without any offset or reduction whatsoever, a Base Rental, payable in advance, as specified in Exhibit C attached hereto. Sublessee shall pay all Base Rental monthly direct to Landlord without notice or demand to the below address or any other address which the Landlord notifies Sublessee of in writing. Payable to: Sojourn Office, LLC Attn: Property Manager 0000 Xxxx Xxxxx Xxxx. Xxxxx 000 PMB 26 Xxxx Xxxxx, Xxxxx 00000 b) Sublessee shall pay Landlord at the address set forth in 4.a) above Additional Rental in the amount of any increases in operating expenses over base year 2019. Sublessee’s Additional Rental shall be based on the square footage of the Subleased Premises. Sublessor or Landlord shall deliver direct to Sublessee the calculation of the amount due for Additional Rental using a base year of 2019 and the square footage of the Subleased Premises in accordance with the Primary Lease. The shortfall of Additional Rental being paid by Sublessee under this Sublease, versus the amount of Additional Rental due under the Primary Lease shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent sole responsibility of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesSublessor. (iic) Subtenant shall pay Operating Costs for the Expansion Space on the same terms Non-payment or late payment of monthly rent will be penalized and conditions set forth enforced in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition accordance with sections 3.7 and 3.8 of the Expansion SpacePrimary Lease. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement (JetPay Corp)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises Commencing on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six Subtenant shall pay to Sublandlord as base monthly rent (6"Base Monthly Rent") months’ Base Rent initially payable for the Expansion SpaceSubleased Premises the following: MONTHS RENT/SQ. FT./MO. NNN Commencement Date $71,911.80 through 8/31/98 9/1/98 through 8/31/99 $74,100.42 9/1/99 through 8/31/00 $76,289.04 Rent shall be payable by Subtenant to Sublandlord in consecutive monthly installments on or before the first day of each calendar month during the Sublease Term without deductions, offset, prior notice or demand. If the Commencement Date or the termination date of the Sublease occurs on a date other than the first day or the last day, respectively, of a calendar month, then the Rent for such partial month shall be prorated based on the actual number of days in the calendar month and the prorated Rent shall be payable on the Commencement Date or on the first day of the calendar month in which the Sublease termination date occurs, respectively. In addition to Base Monthly Rent, and as additional rent, Subtenant shall pay to Sublandlord all other costs, expenses and other amounts payable by Sublandlord under the Master Lease including, without limitation all amounts payable by Sublandlord pursuant to paragraph 4.D of the Master Lease and all costs of utilities serving the Subleased Premises; or provided however, Subtenant shall not be required to pay any additional rent that is payable as a result of a default by Sublandlord of any of its obligations under the Master Lease. All amounts in addition to Base Monthly Rent required to be paid by Subtenant under this Sublease shall be deemed to be rent (B"Rent"). Upon execution hereof, Subtenant shall deposit with Sublandlord the sum of Seventy- One Thousand Nine Hundred Eleven Dollars and Eighty Cents ($71,911.80) if Subtenant delivers its Exercise Notice which amount shall be applied against the Base Monthly Rent due under this Sublease for the first month of the Sublease Term. In consideration of Sublandlord's agreement to enter into this Sublease, and as additional rent, on or before ten (10) days following the first (1st) anniversary of the Commencement Datedate that this Sublease is fully executed and delivered by Sublandlord and Subtenant, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior shall pay to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to Landlord an amount equal to two fifty percent (250%) months’ Base of the amount of Basic Rent (as that term is defined in the Master Lease) and Additional Rent (as that term is defined in the Master Lease) that is payable by Sublandlord to Landlord for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovemonth of August.

Appears in 1 contract

Samples: Sublease (Pointcast Inc)

Rent. (ia) The From the Sublease Term Commencement Date through the Sublease Termination Date, Subtenant shall pay to Sublandlord base rent ("Sublease Base Rent rate(sRent") for the Sublease Premises at a rental rate of $26.00 per rentable square foot payable in equal monthly installments. The parties acknowledge and agree that Landlord shall, within six (6) months after the Sublease Term Commencement Date, have its architect remeasure the Sublease Premises based upon the BOMA method for measuring floor area in an office building for a single tenant on such floor, but in no event shall such measured floor area be less than 9,318 rentable square feet. The parties further acknowledge and agree that the Expansion Space calculation of Sublease Base Rent shall be based on the number of rentable square feet that are included in the Sublease Premises as the same as may be remeasured from time to time and that the Sublease Base Rent rate(s) per rentable square foot for shall be adjusted in accordance with the initial Subleased Premises on provisions of Paragraph 6 of the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Second Amendment to Lease. Sublease Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to payable in advance on the first (1st) anniversary day of each and every calendar month of the Commencement Date, six (6) months’ Base Rent initially payable for Sublease Term. If the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following Sublease Term commences or ends other than on the first (1st) anniversary day of a month, then Sublease Base Rent for such month shall be prorated for such fractional period and paid promptly to Sublandlord. (b) In addition to the Sublease Base Rent to be paid by Subtenant, Subtenant shall pay to Sublandlord, during the Sublease Term hereof, as additional rent for the Sublease Premises (the "Additional Rent"), (i) Subtenant's Proportionate Share (as defined below) of all other payments required to be paid by Sublandlord under the Main Lease (except under Section 4.1(b)) when and as due thereunder, (ii) the entirety of any penalties that may accrue thereon in the event of Subtenant's failure to pay such amounts, and (iii) all damages, costs and expenses which Sublandlord may incur by reason of any failure by Subtenant to comply with the terms of this Sublease. As used herein, "Subtenant's Proportionate Share" shall be the fraction comprised of the rentable square footage of the Sublease Premises, with the calculation based on the number of rentable square feet that are included in the Sublease Premises as the same may be remeasured from time to time, as the numerator and the total rentable square footage of the Main Premises at the time in question as the denominator. (c) Additional Rent shall be adjusted as of the Sublease Term Commencement Date, each January 1 thereafter during the term, and the Sublease Termination Date. When the amount of Additional Rent due hereunder is not known prior to the Sublease Termination Date, a final adjustment shall be made between Subtenant and Sublandlord promptly after such amount is known, notwithstanding that the term of this Sublease may have expired or have been earlier terminated. (xd) six months Base Except as otherwise expressly provided in Subparagraph 4(b)(i) hereof, all Additional Rent shall be due and payable within five (5) business days after demand therefor by Sublandlord. In the event that Subtenant shall fail to pay Additional Rent when due and payable, Sublandlord shall have all the rights and remedies with respect to such failure as Sublandlord has for the Expansion Space multiplied by (y) a fraction, the numerator nonpayment of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Sublease Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveRent.

Appears in 1 contract

Samples: Sublease Agreement (Curis Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for During the Expansion Space Lease Term, Tenants, jointly and severally, shall pay a total rent to Landlord in the amount of $ . Said total rent shall be the same as the Base Rent rate(spaid by Tenant to Landlord in equal monthly installments of $ (“Rent”) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commencesto Landlord, at Landlord’s address set forth above, in advance and shall increase at such times and be received in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space hand or postmarked on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to or before the first (1st) anniversary 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 Commencement Dateessence for each and every monthly Rent payment and for all other monies due and owing under this Lease, six including security deposit, damages, invoices or other costs or expenses chargeable by law by Landlord to Tenant. Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars (6$50) months’ Base for any monthly payment of Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following not received in hand by Landlord on or before the first (1st) anniversary 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 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 form of cash, money order, or cashiers check only. Base Rent and Pet Rent, if any, are collectively referred to herein as “Rent”. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant on a monthly basis before applying said amounts to the Rent due. Tenant may elect to receive a discount of the Commencement Datelast month’s Rent, (x) six months Base Rent payable for the Expansion Space multiplied by (y) at Tenant's option, as provided in this Section. Tenant will receive a fraction, the numerator of which is the number of complete or partial calendar months remaining discount on their last month’s rent in the Term as amount of $50 provided that the date Subtenant delivers its Exercise Notice discounted amount of Tenant’s last month’s Rent is paid and the denominator received by Landlord in full at time of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovemove in.

Appears in 1 contract

Samples: Lease Agreement

Rent. (ia) The From and after the Sublease Commencement Date, Subtenant shall pay to Sublandlord the base rent specified in subsection (b) below (“Base Rent”). Base Rent rate(sand all other items of additional rent, charges and expenses payable by Subtenant hereunder (all of the foregoing except for Base Rent deemed, collectively, “Additional Rent”) per rentable square foot for the Expansion Space shall be paid to Sublandlord on the same first day of each calendar month, without deduction, abatement, counterclaim or setoff of any amount for any reason whatsoever. Rent shall be paid to Sublandlord in lawful money of the United States at its address set forth above (Attention: Lease Administration), or to such other person, or at such other address, as Sublandlord may from time to time designate by notice to Subtenant. Any payment by Subtenant or receipt by Sublandlord of an amount less than the amount stipulated hereunder for any portion of Rent shall be deemed a payment on account of such amount(s) payable. An endorsement or statement by Subtenant on any check or letter shall not be deemed to create an accord and satisfaction, and Sublandlord may accept any such check or payment without prejudice to Sublandlord’s right to recover the balance due or to pursue any other remedy available to it. Any provision in the Prime Lease referring to “Rent” or “rent” (or words of similar meaning) incorporated herein by reference shall be deemed to refer to all items of Base Rent rate(sand Additional Rent due under this Sublease. Base Rent and Additional Rent shall be referred to as “Rent”. (b) per rentable square foot for Base Rent shall consist of the initial Subleased Premises on the date the term for the Expansion Space commencesfollowing amounts, and shall increase at such times and in such amount be paid by Subtenant to Sublandlord as Base herein provided: Sublease Period Total Term Monthly Sublease Commencement Date through Sublease Expiration Date $ 494,991.00 $ 49,499.10 (c) Notwithstanding subsection (b) above, Tenant’s obligation to pay Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space commence on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Sublease Commencement Date, six (6subject to any abatement of Rent pursuant to Paragraph 1.(b) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base above. The Rent payable for the Expansion Space multiplied by (y) a fraction, calendar month in which the numerator of which is Sublease Commencement Date occurs shall be pro rated to reflect the number of complete or partial calendar months remaining in the Term as days of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy during such calendar month and shall be payable on the Sublease Commencement Date. (d) Rent payable hereunder shall be prorated on a daily basis in the case of any period of less than a full calendar year or, in the Expansion Space (but Subtenant’s failure to timely deliver such increased portion case of any monthly installment, any period less than a full calendar month. Subtenant shall pay all commercial rent or occupancy taxes imposed in connection with this Sublease, the Security Deposit will not postpone Subleased Premises or the commencement payment of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Spacehereunder, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveapplicable.

Appears in 1 contract

Samples: Sublease (Linkedin Corp)

Rent. (ia) The Base Rent rate(s) per rentable square foot Beginning on the Commencement Date, Subtenant agrees to pay, as gross rent for the Expansion Space shall be Premises the same as (“Rent”), the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions monthly rent set forth in Section 4 the table below. This Sublease is a gross sublease and, as such, Subtenant shall have no obligation to pay operating expenses or similar charges under the Master Lease. All payments of Rent shall be made to the Sublandlord at the Sublandlord’s address set forth in the opening paragraph of this Sublease, provided that or to such other payee or at such other address as may be designated by notice in writing from Sublandlord to Subtenant’s Percentage Share , without prior demand therefor and without any setoff or deduction whatsoever. January 1, 2018—January 31, 2019 $ 5,530 per month February 1, 2019—November 30, 2019 $ 5,600 per month (b) Notwithstanding the foregoing, Rent shall be increased appropriately to account 100% abated for the addition first month of the Expansion SpaceTerm, such that the first installment of Rent shall be payable on February 1, 2018. (iiic) The Security Deposit will Subtenant’s covenant to pay Rent shall be increased by an amount equal to: (A) if independent of every other covenant in this Sublease. If Rent is not paid when due, Subtenant delivers its Exercise Notice prior shall pay, relative to the first (1st) anniversary of the Commencement Datedelinquent payment, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two the sum which would be payable by Sublandlord to Master Landlord for an equivalent delinquency under the Master Lease. To the extent Subtenant’s specific use or occupancy of the Premises gives rise to any additional charges from Master Landlord to Sublandlord, pursuant to the terms of the Master Lease, Subtenant shall, upon demand, directly pay to Master Landlord, or reimburse Sublandlord, an amount equal to such charges. (2d) months’ Base Rent Subtenant shall also pay, as and when due, all taxes and assessments levied against trade fixtures, alterations, additions, improvements, inventories and other personal property located at the Premises and/or installed or maintained on the Premises by Subtenant; and, promptly following request therefor from Sublandlord, Subtenant shall provide Sublandlord copies of receipts for payment of all such taxes and assessments. To the extent any such taxes or assessments are not separately assessed or billed to Subtenant, Subtenant shall pay the amount thereof as invoiced by Sublandlord. (e) Except for utilities that are the responsibility of the Master Landlord under the Master Lease, Subtenant shall transfer all utilities for the Expansion Space, as, when Premises into its name and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveshall pay all charges for such utilities as they become due.

Appears in 1 contract

Samples: Sublease Agreement (Savara Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space 7.1. Tenant shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount pay to Landlord as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be commencing on February 1, 2019 (as the same may be extended as provided in Section 4.1, the Base Rent rate(s) per rentable square foot for Commencement Date”), the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions sums set forth in Section 4 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 Adjusted Share of Building of Operating Expenses (as defined below), (b) Tenant’s Pro Rata Share of Lab Building of Operating Expenses, (c) the Property Management Fee (as defined below), (d) sums due for consulting services provided to Tenant by Landlord at Tenant’s request if those services exceed the customary tenant-servicing efforts of Landlord in Landlord’s reasonable discretion (Landlord shall have sole discretion with respect to the provision of such services, if any, and how those services will be billed to Tenant, including the use of a taxable subsidiary to provide such services and xxxx for the same); and (e) any other amounts that Tenant assumes or agrees to pay under the provisions of this SubleaseLease that are owed to Landlord, provided including any and all other sums that Subtenantmay become due by reason of any default of Tenant or failure on Tenant’s Percentage Share 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. Tenant shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior pay Additional Rent with respect to the first (1st) anniversary of entire Term after the Rent Commencement Date, six (6) months’ including any extensions thereof or any holdover periods, regardless of whether Tenant is obligated to pay Base Rent initially payable with respect to any such period or portion thereof; provided, however, that notwithstanding anything set forth herein to the contrary, Tenant shall pay any utility charges for the Expansion Space; orPremises that may be included in Additional Rent for the entire Term (any utilities paid directly by Tenant, including without limitation as described in Section 16.2 hereof, may not be included as Additional Rent). (B) if Subtenant delivers its Exercise Notice following 7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, except as otherwise expressly set forth in this Lease, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.9 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 (1st) anniversary day of a calendar month, then the Commencement Date, (x) six months Base Rent payable for such fraction of a month shall be prorated for such period on the Expansion Space multiplied by (y) a fraction, the numerator basis of which is the number of complete or partial calendar months remaining days in the Term as of month and shall be paid at the date Subtenant delivers its Exercise Notice and the denominator of which is fortythen-eight (48) (the “Fraction”)current rate for such fractional month. 7.4. Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of SubtenantTenant’s obligation to pay Base Rent for shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Expansion Space)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 assert any defense in the nature of constructive eviction to any action seeking to recover Rent. Any 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 additional Security Deposit will be subject expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveany other period.

Appears in 1 contract

Samples: Lease (Alnylam Pharmaceuticals, Inc.)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (iia) Subtenant shall pay Operating Costs for the Expansion Space to Sublandlord rent (“Fixed Rent”) of $322,715.00 per annum, payable in equal advance monthly installments of $26,892.92 on the same terms and conditions set forth first day of each month during the Sublease Term (except as expressly provided otherwise in this Sublease) without prior demand, offset or deduction. The Fixed Rent does not include electricity charges, i.e., the “ERI Sum” described in the Lease, hereinafter called the “Fixed Electricity Charge”, which shall be paid by Subtenant at the rate of $11,040.25 per year ($920.02 per month) in advance monthly installments on the first day of each month in the Sublease Term without prior demand, offset or deduction, except as otherwise provided in Section 4 of this Sublease, 9(b) below. The Fixed Rent is subject to increases as provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Spacein Section 9(d) below. (iiib) The Security Deposit first monthly installment of Fixed Rent in the sum of $26,892.92 plus $920.02 for one month of the Fixed Electricity Charge shall be paid on the execution of this Sublease by Subtenant in the total sum of $27,812.94 (the “Prepaid Rent”) and applied to first rents coming due under this Sublease. If the Sublease Commencement Date shall not be the first day of a month, then, once the Sublease Commencement Date is known, the Pre-Paid Rent for such partial month shall be prorated on a per diem basis, and any excess amount paid on the execution of this Sublease shall be credited to the next rents coming due under this Sublease. (c) If Subtenant is not in default under this Sublease and it remains in full force and effect, Subtenant shall be entitled to a rent abatement in the total sum of $53,785.83 (the “Initial Abatement”) which will be increased applied in reduction of Subtenant’s rental obligation coming due under this Sublease immediately following the application of the Prepaid Rent. If this Sublease shall be terminated for Subtenant’s default, any portion of the Initial Abatement previously issued to Subtenant shall be paid to Sublandlord as Additional Rent and any portion of the Initial Abatement not previously issued shall be waived by an amount equal to:Subtenant. (Ad) if Subtenant delivers its Exercise Notice prior to As used herein, “Sublease Year” means successive twelve (12) calendar month periods, with the first (1st) anniversary Sublease Year to begin on the first day of the month in which the Sublease Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following Date occurs. On the first (1st) anniversary day of the Commencement Datesecond (2nd) Sublease Year, (x) six months Base the Fixed Rent payable for the Expansion Space shall be multiplied by one hundred three percent (y103%) a fractionto equal $332,396.45 per year ($27,699.70 per month). On the first day of the third (3rd) Sublease Year, and on the first day of each Sublease Year thereafter during the Sublease Term, the numerator Fixed Rent (as previously increased under this paragraph) shall be multiplied by one hundred three percent (103%). The cumulative compounded annual three percent (3%) increases in Fixed Rent described in this paragraph are in lieu of which is the number tax and operating expense escalation charges set forth in Articles 37 and 38 of complete or partial calendar months remaining the Lease. The foregoing provisions of this paragraph are illustrated in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.chart below:

Appears in 1 contract

Samples: Sublease Agreement (SQL Technologies Corp.)

Rent. (ia) The Base Rent rate(s) per rentable square foot for From and after the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commencesCommencement Date, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for to Landlord annual fixed rent (the Expansion Space on “Fixed Rent”) in the same terms and conditions amounts set forth on Schedule 4 attached hereto. Fixed Rent shall be payable in Section 4 advance in the monthly installments forth on Schedule 4, pro-rated on a per diem basis in the case of any partial months during the Term. Except as otherwise set forth herein, each monthly installment of Fixed Rent shall be payable on or before the first day of each month, without notice or demand and without abatement, set-off or deduction. Throughout the term of this Sublease, provided that Subtenant’s Percentage Share so long as Subtenant is not then in monetary default under this Sublease (beyond any applicable notice and cure period), Subtenant shall be increased appropriately entitled to account for a credit in the addition amount of $13,414.57 per month to be applied against Fixed Rent otherwise due hereunder as set forth above. Landlord acknowledges that Subtenant will, when entitle to the aforementioned credit, pay the Fixed Rent less the amount of the Expansion Spacecredit. (iiib) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to Commencing on the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation agrees to pay Base Rent for the Expansion Space). Any such to Landlord, as additional Security Deposit will be subject to reduction to rent hereunder, an amount equal to two “Subtenant’s Proportionate Share” of (2i) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced amount payable by Landlord pursuant to Section 5(b4.05 of the Xxxxxxxxx (“Landlord’s Operating Expenses Payment”), but only to the extent that Landlord’s Operating Expense Payment for any calendar year during the Term exceeds Landlord’s Operating Expense Payment for calendar year 2007, and (ii) abovethe amount payable by Landlord on account of real property tax (as defined in Section 9.01 of the Xxxxxxxxx) pursuant to Section 9.01 of the Xxxxxxxxx (“Landlord’s Real Property Tax Payment”), but only to the extent that Landlord’s Real Property Tax Payment for any fiscal year during the Term exceeds Landlord’s Real Property Tax Payment for fiscal year 2007, and (iii) all costs and expenses of every kind and nature paid or incurred by Landlord in the operation, maintenance, repair and replacement of the Building and the Building Common Area, including, without limitation, the utility costs described in Section 21 below (“Landlord’s Building Expenses”), but only to the extent Landlord’s Building Expenses for any calendar year during the Term exceed Landlord’s Building Expenses for calendar year 2007 (all such additional rent payable by Subtenant collectively referred to herein as “Direct Expenses”). In the event the Building is not at least 95% occupied during calendar year 2007, then that portion of Landlord’s Building Expenses that vary based on occupancy shall be grossed up as if the Building were 95% occupied. For purposes of this Sublease, “Subtenant’s Proportionate Share” shall be calculated by dividing the rentable square footage of the Subleased Premises subject to this Sublease (at the time in question) divided by the total rentable square footage of the Building. Initially, the Subtenant’s Proportionate Share is twenty-seven percent (27%).

Appears in 1 contract

Samples: Sublease (Supportsoft Inc)

Rent. (i) The A. Tenant shall pay to Landlord Base Rent rate(s) per rentable square foot for in the Expansion Space shall be manner provided in Subsection 5.C. in equal consecutive monthly installments in advance on or before the same 1st day of each calendar month commencing as of the Base Rent rate(s) per rentable square foot for Commencement Date and continuing through the initial Subleased Premises Term. If the Term commences on a day other than the date first day of a calendar month, or ends on a day other than the term for the Expansion Space commenceslast day of a calendar month, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share such month shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased prorated by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied multiplying same by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in days of the Term as of the date Subtenant delivers its Exercise Notice within such calendar month and the denominator of which is forty-eight (48) (the total number of days within such calendar month. B. Tenant agrees to pay all Real Estate Taxes and Utility Charges as set forth below. C. For purposes of this Lease, Base Rent, Real Estate Taxes, 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 FractionRent). Subtenant will deliver such increased ; and, in the event of any failure on the part of Tenant to pay any portion of the Security Deposit prior Rent (except where such failure is directly due to Subtenant’s occupancy the acts or omissions of Landlord), 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 Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. Except as expressly set forth to the contrary herein, all Rent is payable in lawful money of the Expansion Space United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff in accordance with the ACH information specified in Subsection 0.XX., or in accordance with other ACH information as Landlord designates to Tenant in writing. D. 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 is presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (but Subtenant’s failure 5) business days after delivery to timely deliver such increased portion Tenant of written notice from Landlord that Tenant has failed to pay Rent when due, Tenant shall pay Landlord on written demand a late charge equal to five percent (5%) of the Security Deposit delinquent installment of Rent, when it pays the delinquent installment. 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 postpone interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent due to Landlord shall accrue interest at the commencement Default Rate from the date which is five (5) business days after delivery to Tenant of Subtenant’s obligation written notice from Landlord that Tenant has failed to pay Base Rent when due up to the date that the 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. Notwithstanding the foregoing, Tenant shall be responsible for payment of all interest, late charges, and other costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges the Expansion Spaceresponsibility of Tenant hereunder. E. Landlord covenants that, due to Landlord’s organizational structure or jurisdiction, Tenant shall not be required by applicable law to pay any withholding tax on any Rent payable hereunder or make any deduction on any payment of Rent. F. Landlord shall provide to Tenant a completed IRS Form W-9 (Request for Taxpayer Identification Number and Certification), on or before the Commencement Date. Any such additional Security Deposit will be subject Landlord shall promptly notify Tenant of any changes to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveinformation set forth therein.

Appears in 1 contract

Samples: Absolute Lease Agreement (First Midwest Bancorp Inc)

Rent. (ia) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same Commencing as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to Commencement Date and continuing thereafter on the first (1st1/st/) anniversary day of each and every month during the Term, Sublessee shall pay to Sublessor in advance $18,859.50 ($4.50 per square foot) as rent for the Subleased Premises (the "Rent"). Rent for any period less than a calendar month shall be a pro rata portion of the monthly installment. Rent shall be payable to Sublessor, in advance, in lawful money of the United States, without prior notice, demand, or offset (except as permitted in the Master Lease), on or before the first day of each calendar month during the Term, at the address set forth herein below or at such other address as may be designated in writing from time to time. The first month's Rent payable hereunder shall be paid by Sublessee upon the Commencement Date. In addition, upon the Commencement Date, six Sublessee shall pay Sublessor the sum of Twenty Thousand Dollars (6$20,000) months’ Base Rent initially payable that shall be held as a security deposit by Sublessor. (b) Sublessor shall be responsible for the Expansion Space; orpayment of property taxes, property insurance (Building only), common area maintenance, janitorial (office area and lavatories in the Subleased Premises, only), HVAC (unless such services are requested by Sublessee during times when such services are not required by Sublessor), utilities on the Premises, property dues, elevator maintenance, sprinklers, security, garbage, pest control, earthquake insurance, water treatment, HVAC maintenance, landscaping and parking lot maintenance, autoclave and cagewasher preventive maintenance, or any other costs that Sublessor is required to pay under the Master Lease pursuant to its terms. Anything in this Sublease to the contrary notwithstanding, Sublessor shall not be responsible for any other services required by Sublessee. Other services that are required by Sublessee may be negotiated between Sublessor and Sublessee and, if appropriate, billed to Sublessee at Sublessor's actual cost for such service. (Bc) if Subtenant delivers its Exercise Notice following In the first (1st) anniversary event of any casualty or condemnation affecting the Subleased Premises, Rent payable by Sublessee shall be abated hereunder, but only to the extent that Rent under the Master Lease is abated with respect to the Subleased Premises, and Sublessee waives any right to terminate the Sublease in connection with such casualty or condemnation except to the extent the Master Lease is also terminated as to the Subleased Premises or any material portion thereof. In the event of the Commencement Datetermination of Sublessor's interest as "Tenant" under the Master Lease for any reason, (x) six months Base Rent payable for then this Sublease shall terminate coincidentally therewith without such termination constituting a default of Sublessor or Sublessee. In the Expansion Space multiplied by (y) a fractionevent of any taking, Sublessee shall have no claim to any award. In the numerator event of which any casualty, Sublessor shall perform such restoration as is required of Sublessor pursuant to the Master Lease and, to the extent such casualty is the number result of complete Sublessee's action or partial calendar months remaining inaction, Sublessee shall restore the Subleased Premises as soon as reasonably practicable. (d) Anything in this Sublease to the Term as contrary notwithstanding, Sublessee shall be liable for, and shall pay and deliver evidence of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit payment prior to Subtenant’s occupancy delinquency, all taxes levied against any personal property, fixtures, machinery, equipment, apparatus, systems and appurtenances or improvements placed by or on behalf of Sublessee in, about, upon or in connection with the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveSubleased Premises.

Appears in 1 contract

Samples: Sublease (Tularik Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for Until the Expansion Space Commencement Date occurs, Owner shall be entitled to all Rent from Existing Subtenants (defined below), and Tenant shall have no right to utilize the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises Towers, or to locate equipment or rent space, or to allow other entities to locate equipment or rent space, on the date the term for the Expansion Space commences, and shall increase at such times and Towers or to collect any rent in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of connection therewith. Upon the Commencement Date, six Tenant shall pay to Owner monthly rent (6“Rent”) months’ Base based on the amount of rent being paid to Tenant by its subtenants, sublessees and licensees (each a “Subtenant”, which term “Subtenant” includes both “Existing Subtenants” and new “Subtenants”). Calculation of Rent initially payable for shall be based on the Expansion Space; orfollowing: (Ba) if Subtenant delivers For the Existing Subtenants, as defined below, Tenant shall pay to Owner Eighty-Five percent (85%) of all rent received from the Existing Subtenants, not including any reimbursements by Subtenants to Tenant for payments for capital improvements to the Towers or other reimbursements to Tenant by Subtenants for Subtenant’ related expenses, such as the performance of a structural engineering analysis by Xxxxxx for changes to the Subtenant’s equipment. (b) For any new Subtenants, other than Dish Wireless or its Exercise Notice following the first Dish Affiliates, Tenant shall remit to Owner Sixty Percent (1st60%) anniversary of the Commencement Daterent paid by the Subtenants to Tenant, (x) six months Base Rent payable not including any reimbursements by Subtenants to Tenant for payments for capital improvements to the Expansion Space multiplied Towers or other reimbursements to Tenant by (y) Subtenants for Subtenant related expenses, such as the performance of a fractionstructural engineering analysis by Tenant for changes to the Subtenant’s equipment. The term “Dish Affiliates” shall mean: any company in control of, the numerator of which is the number of complete controlled by, or partial calendar months remaining in the Term under common control with Dish Wireless LLC as of the date Subtenant delivers its Exercise Notice and the denominator Effective Date hereof. For purposes of which is forty-eight this paragraph, “control” shall require ownership of greater than fifty percent (4850%) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy voting stock, membership interest, or other ownership interest, of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Spacecontrolled or controlling company, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.as applicable;

Appears in 1 contract

Samples: Land Lease Agreement

Rent. (i) 4.1 The Base Rent rate(s) per rentable square foot consideration payable by Subtenant for the Expansion Space shall be the same as Premises consists of the Base Rent rate(sspecified in the Basic Sublease Provisions and Tenant’s Share (as defined in the Master Lease) per rentable square foot for of Operating Expenses and Tax Expenses (both as defined in the initial Subleased Premises Master Lease) (“Additional Rent,” and collectively with the Base Rent, “Rent”). Sublandlord shall deliver to Tenant copies of the statements of Additional Rent and reconciliation statements provided to Sublandlord by Master Landlord. Except as may be expressly provided herein, Subtenant’s covenant to pay Base Rent and Additional Rent will be independent of every other covenant in this Sublease. 4.2 Beginning on March 1, 2022, and continuing thereafter on the date first day of each month during the term for the Expansion Space commencesTerm, Subtenant must pay to Sublandlord in advance, and shall increase at such times and in such amount as without notice, demand, deduction or offset, the monthly Base Rent for Commencing on the initial Subleased PremisesCommencement Date and continuing thereafter on the first day of each month during the Term, it being Subtenant must pay to Sublandlord in advance, and without notice, demand, deduction or offset, 1/12 of the intent of Additional Rent. Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same make reconciliation credits or payments, as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 7.f. of the Master Lease, and such obligation shall survive the expiration or earlier termination of this Sublease, provided except with respect to any reconciliation statement not delivered by Sublandlord to Subtenant within twelve (12) months after the expiration date of this Sublease. Sublandlord shall provide Annual Operating and Tax Expense statement to Subtenant within ten (10) business days follow receipt from Master Landlord. 4.3 All Rent must be paid to Sublandlord at the “Sublandlord’s Address for Payment of Rent” specified in the Basic Sublease provisions, or to such other person or such other place as Sublandlord may from time to time designate by giving notice in writing to Subtenant. 4.4 If any Rent is not paid when due, Subtenant must pay a late charge to Sublandlord equal to the greater of (a) 5% of the delinquent amount‐, or (b) all interest and late charges as Sublandlord would sustain under the Master Lease in the event that Sublandlord were delinquent in paying such amount under the Master Lease. Neither demand for, nor receipt of, any late charge called for under this Sublease will (i) operate to waive any default by Subtenant or provide a substitute for Subtenant’s Percentage Share shall be increased appropriately to account for the addition full and timely performance of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for Rent, or (ii) limit the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveexercise of any other right or remedy Sublandlord may have under this Sublease in case of Subtenant’s default.

Appears in 1 contract

Samples: Sublease (Salt Blockchain Inc.)

Rent. In addition to the other obligations of Sublessee set forth herein, Sublessee shall pay Sublessor as annual rent (i"Basic Rent") The Base Rent rate(sfor the Sublease Term the sum of Two Hundred Twenty-One Thousand One Hundred Twenty-Two and No/100 Dollars ($221,122.00) per rentable square foot for the Expansion Space annum. An amount equal to one-twelfth (1/12) of such annual rent (Eighteen Thousand Four Hundred Twenty-Six and 83/100 Dollars ($18,426.83)) shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises payable in advance on the date first day of each month of the term for the Expansion Space commencesSublease Term, without deduction or offset and shall increase at without prior notice or demand; provided, however, that all such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share rentals shall be increased appropriately prorated to account for partial months during the addition first and/or last months during the Sublease Term. In addition, Sublessee shall pay sixty-two and one tenth percent (62.1%) of all taxes, assessments, utilities, insurance, common area costs and other expenses or costs which Sublessor is hereafter required to pay as Lessee under the Master Lease ("Additional Rent"). Installments of Additional Rent shall be payable to Sublessor at the same times Sublessor is required to pay such expenses under the Main Lease. For non-monthly installments of Additional Rent, Sublessor shall provide notice of such amounts due within three (3) business days of Sublessor's receipt of notice thereof from Master Landlord. Sublessor shall provide Sublessee with copies of all supporting information for Additional Rent which Sublessor receives from Master Lessor. Sublessee's obligation for installments of Additional Rent for any period prior to expiration or termination of this Sublease shall survive such expiration or termination. In the event any amount included in the Additional Rent is subject to year-end adjustment under the Master Lease, Sublessee shall be entitled to or responsible for sixty-two and one tenth percent (62.1%) of the Expansion Space. (iii) amount it has overpaid or underpaid as to that component of Additional Rent. Rents shall be paid to Sublessor at the address set forth below. The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary terms and provisions of Section 4.01 and Section 4.02 of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining Master Lease shall apply to Sublessee in the Term as event of the date Subtenant delivers its Exercise Notice and the denominator delinquent payment of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Basic Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveor Additional Rent.

Appears in 1 contract

Samples: Sublease (Hurco Companies Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for 4.1. As rent and subject to the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions of this Lease, Tenant shall pay the sums described in Section 1 (“Rent”). No additional payments of money shall be required of Tenant. Rent shall not be reduced or abated merely because of the surrender of certain portions of the Premises, as described in Section 2. However, the Rent shall not include (and Tenant shall not be required to pay) any increase in normal operating costs to the extent attributable to Landlord's occupancy of or activities on the Premises, 9/12/2013 12:02 PM such as, but not necessarily limited to, the following (a) increases in real and personal property taxes levied or assessed against Landlord's own improvements or personal property, (b) increases in insurance premiums properly attributed to Landlord's actual use or occupancy, and (c) increases in utility charges over and above the historic level of utility charges experienced by Tenant that are equitably allocated to Landlord's use. 4.2. All amounts payable or reimbursable by Tenant under this Lease, including late charges and interest, shall constitute Rent and shall be payable and recoverable as Rent in the manner provided in this Lease. Unless otherwise specified in this Lease, all sums payable to Landlord on demand under the terms of this Lease shall be payable within ten (10) days after notice from Landlord of the amounts due. All Rent shall be paid without offset, recoupment or deduction, in lawful money of the United States of America to Landlord at Landlord's Address for Payment of Rent as set forth in Section 4 of this Subleasethe Basic Lease Information, provided that Subtenant’s Percentage Share or to such other person or at such other place as Landlord may from time to time designate. All payments received by Landlord from Tenant shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior applied to the first (1st) anniversary of the Commencement Dateoldest payment obligation owed by Tenant to Landlord. No designation by Tenant, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Dateeither in a separate writing or on a check or money order, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete shall modify this clause or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovehave any force or effect.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Super Micro Computer, Inc.)

Rent. A. Tenant covenants and agrees to pay to Landlord during the term of this Lease, at the place specified by Landlord, the Base Rent, without deduction or setoff (unless authorized by this Lease), due and payable in advance on the first day of each month. Tenant also covenants and agrees to pay to Landlord Tenant's Pro Rata Share of Building Operating Costs as described in Paragraph 3B below. Base Rent and Tenant's Pro Rata Share of Building Operating Costs, together with other amounts which may be payable by Tenant to Landlord under this Lease, shall sometimes be referred to collectively as " RENT." Rent for any fractional calendar month shall be that proportion of the monthly installment which the number of days during such month bears to the total of days in the month. Rent not paid by the fifth day following written notice that such amount is past due shall be subject to a late charge of three (3%) of the amount due. B. In addition to Base Rent, Tenant shall pay Tenant's Pro Rata Share of "BUILDING OPERATING COSTS." Building Operating Costs shall mean all expenses, costs and disbursements which Landlord shall pay or become obligated to pay because of or in connection with the maintenance, repair and operation of the Building, including, but not limited to, real estate taxes and assessments, use, sales, or any other taxes (except income taxes) based on rents, personal property taxes on personal property used in the operation of this Building; Landlord's insurance, as described in Paragraph 6 below; utilities not separately metered to individual tenants; costs of leasing or amortization of energy reduction devices and systems, except those included in the building specifications and except those required during the first two years of the Lease Term; maintenance; repairs; redecorating of common areas; cost of roof renovation (which shall be amortized over its expected life and which shall not include roof replacement which occurs after the term or the first extension thereof); janitorial service; operating supplies; property management; Building Services; snow removal; landscaping; costs of leasing or amortizing plants, shrubs, trees, or flowers, and normal maintenance thereof; costs of leasing or amortizing wall hangings, fixtures, paintings, and statues; rubbish removal; tools and equipment used for the daily operation of the Building; air conditioning, heating and elevator repair and maintenance; resurfacing and restriping of parking areas; repair and replacement of car stops and signage; security; wages, payroll taxes, welfare and disability benefits reasonably incurred in the operation of the Building. Notwithstanding the foregoing, Building Operating Costs shall expressly exclude: (a) cost of decorating, redecorating, or special cleaning, or other services not provided on a regular basis to all tenants of the Building; (b) wages, salaries, fees and fringe benefits paid to administrative or executive personnel or officers or partners of Landlord, unless employed at competitive rates as independent contractors; (c) any charges for depreciation of the Building or equipment; (d) any interest or finance charges; (e) any charges for Landlord's income taxes, excess profit taxes, franchise taxes or similar taxes on Landlord's business; (f) all costs relating to activities conducted for the solicitation of and execution of leases of space in the Building; (g) any costs for which Tenant or other tenants in the Building are being charged other than pursuant to this Paragraph; (h) the costs of correcting defects in the construction of the Building or in the Building Equipment, except that conditions (not occasioned by construction defects) resulting from ordinary wear and tear shall not be deemed defects for the purpose of this category; (i) The Base Rent rate(sthe costs of any repair made by Landlord because of the total or partial destruction of the Building or the condemnation of a portion thereof; (j) per rentable square foot any insurance premium to the extent that Landlord is entitled to reimbursement therefore from Tenant or from any other tenant of the Building; (k) any costs for which Landlord is reimbursed by insurance, warranty, or other source of reimbursement; (1) the Expansion Space shall be cost of any additions or capital improvements to the same Building subsequent to original construction; (m) the cost of any repairs, alterations, additions, changes, replacements and other items which, under Generally Accepted Accounting Principles, are properly classified as capital expenditures to the Base Rent rate(sextent that they upgrade or improve the Building, as opposed to replacement of existing items which have worn out; (n) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and any cost included in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Building Operating Costs for the Expansion Space on the same terms and conditions set forth representing an. amount paid to a related corporation, entity or person which is in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition excess of the Expansion Space. amount which would be paid in the absence of such relationship; (iiio) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior the cost of any work or service performed for or facilities furnished to the first (1st) anniversary any tenant of the Commencement Date, six Building to a greater extent or in a manner more favorable to such tenant than that performed for or furnished to Tenant; and (6p) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers cost of overtime or other expense to Landlord in curing its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete defaults or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior performing work expressly provided herein to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveborne at Landlord's expense.

Appears in 1 contract

Samples: Lease (Kragen Auto Supply Co)

Rent. (ia) The Base Rent rate(s) per rentable square foot for Tenant will pay the Expansion Space shall be the same annual base rent as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises shown in Exhibit "D" in equal monthly installments in advance beginning on the date Rent Commencement Date and thereafter on the first day of each month during the term, prorated for any portion of a month. The term for the Expansion Space commences"rent" includes base rent, additional rent and all other amounts to be paid by Tenant under this Lease, whether or not specifically described as rent. Subject to Subsection (b) below, and shall increase except as otherwise set forth in this Lease with respect to rent abatements, all rent due under this Lease will be paid without demand, deduction, counterclaim or offset of any type in lawful U.S. legal tender at 0000 Xxxxxxxxx Xxxxxx, Xxxxx 0000, Xx Xxxxxxx, XX 00000-0000, Attn: Accounting Dept., or to such times and in such amount other person or place as Base Rent for Landlord may from time to time designate by written notice pursuant to this Lease. Tenant will pay the initial Subleased Premises, first month's base rent when it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premisesexecutes this Lease. (iib) Subtenant shall pay Operating Costs If and for so long as there is a mortgage loan encumbering the Expansion Space on Project, at the same terms written request of Landlord, Landlord and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to Tenant will establish a collection account for the addition receipt and disbursement of base rent. In such event, Tenant will pay the base rent as and when required each month into this collection account, and the collection agent promptly will disburse from such amount an amount sufficient to pay debt service and any other amounts owed to the mortgage lender and/or the lender of the Expansion Space. (iii) loan secured by the letter of credit, with the balance being disbursed to Landlord. The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice collection agent and the denominator terms of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit this collection account will be subject to reduction the mutual written approval of Landlord and Tenant, which approval will be based on customary terms for such agreement and will not be unreasonably withheld or delayed. The parties agree to an amount equal the Bank of America or the Bank of Boston as collection agent, and to two (2) months’ Base Rent for a collection agreement in form substantially similar to the Expansion Spaceone attached as Exhibit "B-1.", as, when and if the initial Security Deposit is reduced pursuant all at no cost or expense to Section 5(b) aboveTenant.

Appears in 1 contract

Samples: Lease (Navisite Inc)

Rent. (a) Subtenant shall pay Monthly Base Rent in the amounts specified in the Basic Sublease Information to Sublandlord for each month of the Sublease Term, without offset or deduction for the Sublease Premises, in advance, on the first day of each month of the Sublease Term, in lawful money of the United States. Monthly Base Rent shall commence and be adjusted on the Rent Commencement Dates specified in the Basic Sublease Information. Rent for any partial month shall be prorated on the basis of the number of days in such month. All Monthly Base Rent and all other charges payable by Subtenant under this Sublease shall be referred to herein as “Rent.” Notwithstanding the foregoing, (i) The Base Rent rate(s) per rentable square foot for the Expansion Space two-month period commencing June 15, 2005 and ending August 14, 2005, the Subtenant shall be obligated to pay only the same as Utilities and janitorial costs associated with the Base Rent rate(sSublease Premises and (ii) per rentable square foot for the initial Subleased Premises on two-month period commencing August 15, 2005 and ending October 14, 2005, the date Subtenant shall be obligated to pay only the term for Utilities, janitorial costs, the Expansion Space commences, Estimated Operating Expenses and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being Building Maintenance Expenses associated with the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Sublease Premises. (iib) In addition to Monthly Base Rent, and commencing on the date identified for that purpose in the Basic Sublease Information, on the first day of each month of the Sublease Term Subtenant shall pay as additional Rent Subtenant’s Share of the Master Premises Operating Costs Expenses (as provided in the Basic Sublease Information). As used in this Sublease, the term “Master Premises Operating Expenses” means all actual out-of-pocket costs payable by Sublandlord to Master Landlord under Sections 4.05, 7.01, 9.01 and 9.02 of the Master Lease and the fitness center fees charged by Master Landlord for the Expansion Space on Building (except for the same terms and conditions insurance deductibles as set forth in Section 4 7.01 of this Subleasethe Master Lease, provided which will be part of the Master Premises Operating Expenses passed through to Subtenant only to the extent that, if Sublandlord is charged by Master Landlord for any insurance deductible as part of a casualty to the Building, then Sublandlord will treat that Subtenant’s deductible expense as a capital expenditure to be amortized and charged to Subtenant at its Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to charge based on the first (1st) anniversary amortization schedule set forth in Section 6.05 of the Commencement DateMaster Lease, six (6) months’ Base Rent initially payable for with the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following useful life being the first (1st) anniversary useful life of the Commencement Date, (x) six months Base Rent payable for repairs covered by the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”deductible). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement (Niku Corp)

Rent. (ia) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same Commencing as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to Commencement Date and continuing thereafter on the first (1st) anniversary day of each and every month during the Commencement DateTerm, six Subtenant shall pay to Sublandlord in advance the sum of $27,241.50 (6$6.50 per rentable square foot) months’ Base Rent initially payable as rent for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) Sublease Premises (the “Fraction”"Rent"). Subtenant will deliver such increased Rent for any period less than a calendar month shall be a pro rata portion of the Security Deposit monthly installment. Rent shall be payable to Sublandlord, in advance, in lawful money of the United States, without prior notice, demand, or offset, on or before the first day of each calendar month during the Term, at the address set forth in Section 23 below or at such other address as may be designated in writing from time to time. The first month's Rent payable hereunder shall be paid by Subtenant upon the mutual execution of this Sublease. (b) Sublandlord shall be responsible at its sole cost for paying the following amounts and/or providing the following services: property taxes, property insurance (Building only), common area maintenance, HVAC, utilities on the Premises, property dues, elevator maintenance, sprinklers, security (including access card system), garbage, pest control, earthquake insurance, water treatment costs, and maintenance, repair and replacement (except where caused by the negligence or willful misconduct of Subtenant) of all Building operating systems, including but not limited to HVAC, electrical, mechanical, roll-up doors in the shipping area, life-safety and plumbing, landscaping and parking lot maintenance, and maintenance, repair and replacement (except where caused by the negligence or willful misconduct of Subtenant) of all built-in equipment which either serves or is located within the Sublease Premises, including but not limited to the autoclave, cagewasher, deionized/RO water supply system, animal holding room pressurization equipment, CO2 supply equipment, or any other costs that Sublandlord is required to pay under the Master Lease pursuant to its terms. Anything in this Sublease to the contrary notwithstanding, Sublandlord shall not be responsible for any other services required by Subtenant (including, without limitation, janitorial services and gas supply for the CO2 equipment). Other services that are required by Subtenant may be negotiated between Sublandlord and Subtenant and, if appropriate, billed to Subtenant at Sublandlord's actual cost for such service. (c) In the event of any casualty or condemnation affecting the Sublease Premises, Rent payable by Subtenant shall be abated hereunder, but only to the extent that Rent under the Master Lease is abated with respect to the Sublease Premises, and Subtenant waives any right to terminate the Sublease in connection with such casualty or condemnation except to the extent the Master Lease is also terminated as to the Sublease Premises or any material portion thereof. In the event of the termination of the Master Lease for any reason, then this Sublease shall terminate coincidentally therewith without such termination constituting a default of Sublandlord unless the termination is due to a default by Sublandlord under the Master Lease which is not caused by a default by Subtenant under this Sublease. In the event of any taking, Subtenant shall have no claim to any award. In the event of any casualty, Sublandlord shall perform such restoration as is required of Sublandlord pursuant to the Master Lease and, to the extent such casualty is the result of Subtenant's action or inaction, Subtenant shall restore the Sublease Premises as soon as reasonably practicable. (d) Anything in this Sublease to the contrary notwithstanding, Subtenant shall be liable for, and shall pay and deliver evidence of payment prior to Subtenant’s occupancy delinquency, all taxes levied against any personal property, fixtures, machinery, equipment, apparatus, systems and appurtenances or improvements placed by or on behalf of Subtenant in, about, upon or in connection with the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of Sublease Premises during the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveTerm.

Appears in 1 contract

Samples: Sublease (Exelixis Inc)

Rent. (ia) The Base Rent rate(s) per rentable square foot for Subtent covenants and agrees to pay rent to Sublandlord, at Sublandord’s address shown herein or at such place as Sublandlord shall from time to time designate in writing and otherwise in accordance with the Expansion Space shall be provisions of the same as Lease, at the Base Rent rate(s) per rentable square foot for Annual Fixed Rental Rate in equal installments of 1/12th the initial Subleased Premises Annual Fixed Rental Rate in advance on the date first day of each calendar month included in the term for the Expansion Space commencesTerm, and shall increase for any portion of a calendar month at the beginning or end of the Term, at that rate payable in advance for such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premisesportion. (iib) Subtenant covenants and agrees to pay to Sublandlord as Additional Rent, within ten (10) days of demand therefor by Sublandlord, Subtenant’s Share of the Operating cost Escalation. (c) Subtenant covenants and agrees to pay to Sublandlord as Additional Rent, within ten (10) days of demand therefor by Sublandlord, subtenant’s Share of the Real Estate Tax Escalation. (d) Subtenant shall pay directly to the proper authorities charged with the collection thereof of all charges for electricity and (to the extent not otherwise included in Operating Costs for the Expansion Space Costs) other utilities used or consumed on the same terms and conditions set forth in Section 4 of this Subleasesubleased Premises by subtenant or any party claiming by, provided that through or under Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iiie) The Security Deposit will Subtenant covenants and agrees to pay monthly to Landlord all charges due under the Lease for (i) any after-hours heating, air conditioning or ventilation services supplied to Subtenant in connection with the Subleased Premises and (ii) all other services supplied to Subtenant and/or the Subleased Premises beyond the services required to be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior supplied to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable Subleased Premises for the Expansion Space; or (B) if Sublandlord by Landlord at no additional charge to Sublandlord. Landlord shall xxxx Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable directly for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining all such charges referred to in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovepreceding sentence.

Appears in 1 contract

Samples: Sublease Agreement (GlassHouse Technologies Inc)

Rent. Tenant shall pay rent consisting of (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commencesRent, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant all other sums that become payable by Tenant under this Lease, whether to Landlord directly, or to a third party for the benefit of Landlord and the Premises (“Additional Rent”). Base Rent and Additional Rent are referred to herein as “Rent.” All Rent shall be paid in advance on the first day of each month unless otherwise provided herein. Tenant shall pay Operating Costs to Landlord, with all Rent, the portion of any rent, transaction, privilege, business activity, or other tax now or hereafter imposed on any Rent that will be paid by Landlord attributable to such Rent. If any such tax is payable only above a certain level of total Project rents, then the amount payable by Tenant will be estimated by Landlord based on the ratio of Rents paid by Tenant divided by total anticipated rental from the Project for that year; Landlord shall reconcile the Expansion Space estimated payments with the actual amount of total rental from the Project and the total of such tax paid by Landlord, and any adjustment payment or credit will be made, on the same terms and conditions set forth in basis as applies to Operating Expense reconciliations pursuant to Section 4 of this Sublease, provided that Subtenant’s Percentage Share below. All Rent shall be increased appropriately to account for the addition paid in lawful money of the Expansion Space. (iii) The Security Deposit will United States to Landlord, at such place as Landlord shall designate by written notice to Tenant from time to time. Tenant shall pay all Rent promptly when due without notice or demand therefor and without any abatement, deduction or off set, for any reason whatsoever, except as may be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to expressly provided in this Lease. If the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of SubtenantTenant’s obligation to pay Base Rent does not commence on the first day of a calendar month, or does not expire on the last day of the calendar month, the Base Rent payable by Tenant on the first fractional month, or the last fractional month, as the case may be, shall be prorated for the Expansion Space)said month. Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Spacefirst full calendar month of the Term for which Base Rent is payable shall be paid upon execution of this Lease, asand Base Rent for any partial month at the beginning of the Term shall be due on the Commencement Date. Tenant acknowledges that Tenant’s late payment of Rent due Landlord will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such cost being extremely difficult and impractical to ascertain. Therefore, if Landlord does not receive any Rent due from Tenant within five (5) days of when due more than once in any twelve (12) month period of the Term of this Lease, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the overdue amount, which late charge shall be due and payable on demand. The payment of late charges and the payment of interest are distinct and separate from one another in that the payment of interest is to compensate Landlord for the use of Landlord’s money by Tenant, while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by Landlord in handling and processing delinquent payments. By their execution of this Lease, Landlord and Tenant confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or of any other default under this Lease. Additionally, all such delinquent Rent, shall bear interest at the rate of five percent (5%) plus the Prime Rate (as hereinafter defined) per annum from the date due until paid; provided however, that the foregoing interest shall not apply to the first such late payment in any twelve (12) month period of the Term of this Lease until following written notice to Tenant and the expiration of five (5) days thereafter without cure, or, if lower, the initial Security Deposit maximum interest rate permitted by law (as applicable, the “Default Rate”), from the date due until paid. For purposes hereof, the “Prime Rate” shall be the per annum interest rate publicly announced by Bank of America as its prime or base rate (or, if Bank of America ceases to exist or to announce a prime or base rate, the prime or base rate of another national banking association). If any payment of Rent is reduced pursuant returned for insufficient funds, Landlord may require Tenant to Section 5(b) abovepay all future payments by cashier’s check.

Appears in 1 contract

Samples: Lease Agreement (Twist Bioscience Corp)

Rent. (i) The Base Throughout the term of this Lease, Tenant shall pay to Landlord, without demand, deduction, set-off or counterclaim, the rent, which is hereby defined as the sum of the Minimum Rent rate(s) per rentable square foot for and all additional rent, when and as the Expansion Space same shall be due and payable hereunder. Unless otherwise stated, all sums of money or charges of any kind or nature in addition to Minimum Rent payable by Tenant to Landlord pursuant to this Lease or the exhibits attached hereto are defined as "additional rent" and are due ten (10) days after demand, without any deduction, set-off or counterclaim, and failure to pay such sums of money or charges shall carry the same consequences as Tenant's failure to pay rent. All payments and charges required to be made by Tenant to Landlord hereunder shall be payable in United States funds, at the Base Rent rate(saddress to be provided by Landlord or Xxxxxxxx’s representative and may be changed from time to time written notice from Landlord to Tenant. If Landlord shall incur any charge or expense on behalf of Tenant under the terms of this Lease, or Landlord elects to cure any default of Tenant under this Lease, or is forced to incur any other expense arising from a default by Tenant (including, without limitation, reasonable attorneys' fees and disbursements in instituting, prosecuting or defending any suits, actions or proceedings [including any bankruptcy or insolvency proceedings]) per rentable square foot for to enforce Landlord's right under this Lease, the initial Subleased Premises on sums so paid by Landlord with all interest (at the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions rate set forth in Section 4 of this Sublease3.05 hereof), provided that Subtenant’s Percentage Share costs and damages shall be increased appropriately paid by Tenant to account for the Landlord upon written demand and if not immediately paid shall be deemed to be additional rent, and in addition to and not in limitation of any other rights and remedies which Landlord may have in case of the Expansion Space. (iii) The Security Deposit will be increased failure by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior Tenant to pay such sums when due, such non-payment shall entitle Landlord to the first (1st) anniversary remedies available to it hereunder for non-payment of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboverent.

Appears in 1 contract

Samples: Lease Agreement

Rent. (ia) The Base Rent rate(s) per rentable square foot Tenant shall pay to Landlord (or to Lender, if directed by Landlord), as minimum annual rent for the Expansion Space Leased Premises during the Term, the Basic Rent in arrears, on the Basic Rent Payment Dates, and shall be pay the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises by ACH or other electronic means in immediately available federal funds or other mutually agreed upon means in immediately available federal funds, by 11:30 a.m., New York time on the date the term due, to such account in such bank as Landlord (or Lender, if Landlord directs Tenant to pay Basic Rent directly to Lender) shall designate, from time to time. Basic Rent for the Expansion Space commencesperiod from and including the Commencement Date through and including March 31, and 2004 shall increase at such times and be paid on the Commencement Date in such the amount as Base equal to 1/31 of the monthly Basic Rent for the initial Subleased Premisesterm set forth on Exhibit "B" attached hereto for each day from and including the Commencement Date through and including March 31, it being the intent of Sublandlord and Subtenant that the Base 2004. The first Basic Rent rate(s) per rentable square foot for the Expansion Space Payment Date shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesApril 30, 2004. (iib) Subtenant Tenant shall pay Operating Costs and discharge before the imposition of any fine, lien, interest or penalty that may be added thereto for late payment thereof, as Additional Rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the Expansion Space on party to whom such payment is due for nonpayment or late payment thereof. In the same terms event of any failure by Tenant to pay or discharge any of the foregoing, Landlord shall have all rights, powers and conditions set forth remedies provided herein, by law or otherwise, in Section 4 the event of this Sublease, provided nonpayment of Basic Rent. All payments of Additional Rent that Subtenant’s Percentage Share are payable to Landlord shall be increased appropriately paid by Tenant by wire transfer in immediately available federal funds to such account for the addition of the Expansion Spacein such bank as Landlord (or Lender, if so directed by Landlord) shall designate, from time to time. (iiic) The Security Deposit will be increased by an amount equal to:If any installment of Basic Rent is not paid within five (5) days after the date the same is due, Tenant shall pay to Landlord, on demand, as Additional Rent, a Late Charge. (Ad) if Subtenant delivers its Exercise Notice prior to Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall reflect the first transactions represented by this Lease in all applicable books, records and reports (1stincluding, without limitation, income tax filings) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) in a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovemanner consistent with "true lease" treatment rather than "financing" treatment.

Appears in 1 contract

Samples: Lease (Performance Food Group Co)

Rent. A. Unless otherwise specified on Schedule 1, the rent (i) The Base Rent rate(s) per rentable square foot for the Expansion Space “Rent”), shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to the Basic Allowance for Housing (“BAH”) at the applicable BAH rate for the service member Tenant’s duty station and military grade [which shall include any Owner provided utilities] OR [minus the utility allowance for the Premises, as defined in the utility allowance addendum][, and minus Rent concessions identified in Box 8 on Schedule 1 if applicable]. If Tenant’s duty station is not at [Insert Name of Installation] (the “Installation”) where the Premises are located, BAH shall be determined in accordance with Service policy applicable to such Tenant2. Rent shall be payable in arrears (i.e., each Rent payment pays Rent for the previous month) in monthly installments. Rent is due on the calendar day identified in Box 7 on Schedule 1. If Xxxxxx’s BAH rate changes at any time during the term of this Lease, Tenant must notify Owner within thirty (30) calendar days of the change. Notwithstanding the foregoing, upon an increase in Tenant’s BAH, Rent shall increase automatically to the new BAH rate, whether or not Tenant provides notice to Owner of such increase and Tenant waives any notice from Owner of an automatic rent increase. If this Lease begins after the first day of the month, Tenant shall pay the prorated amount based upon 1/30th of the monthly Rent. Tenant shall pay the partial month Rent shown in Box 16 on Schedule 1 on the Payment Date in the following month. (1) If the Premises is occupied by two or more married Tenants, both of whom are active duty service members, the Rent will be the equivalent BAH rate for the highest ranking Tenant, at the With Dependents rate, for the Installation as set out in Box 7 on Schedule 1[minus the Utility Allowance for the Premises (if applicable)]. (2) months’ Base If the Tenant has been designated as a key and essential employee by the Installation, and is single or not accompanied by family members, the Rent will be equal to the Tenant’s housing allowance at the “Without Dependent rate,” [minus the Utility Allowance for the Expansion SpacePremises (if applicable)]. (3) If Owner elects to provide Tenant a home in a housing category higher than Tenant’s military pay grade, asthen the Rent will be based on the applicable BAH rate for the Tenant’s military pay grade. If Tenant elects to reside in a home that is in a housing category higher or lower than Tenant’s military pay grade, when then the parties shall execute an addendum that states the basis and amount of the Rent. B. Unless otherwise provided for in the Community Specific Addendum, Rent shall be paid through (i) Unit Diary Entry Electronic Funds Transfer (UDEFT) (Marine Corps), (ii) Military Assistance Company (MAC) [XXXX] (Navy/Air Force/Army), or (iii) PeopleSoft (Coast Guard), if applicable (each, as applicable, a “Rent Payment Service Option”). If a Rent Payment Service Option is not applicable, Rent may be paid to Owner or its designated agent by payroll allotment/deduction (the initial Security Deposit “Allotment”). Rent and all other charges owed by Xxxxxx and not paid by a Rent Payment Service Option or Allotment will be payable by another means reasonably directed by Owner, which at Owner’s option may include personal check, certified check, money order, automated clearing house or through other payment methods (e.g. online/website, smart device application) which alternate means may be changed from time to time with 30 days written notice to Tenant and each of which may be subject to applicable service charges. Owner will apply payments to any previously owed Rental amounts prior to current Rents or as otherwise required by applicable law. C. After the Premises is reduced pursuant vacated, any refund due to Section 5(bTenant will be made within thirty (30) abovecalendar days of Owner’s or Community Manager’s receipt of the Allotment applicable to month of move-out or within the time period required by applicable law. X. Xxxxxx will not be required to pay a security deposit .

Appears in 1 contract

Samples: Lease Agreement

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for During the initial Subleased Premises on the date the term for the Expansion Space commencesof this Lease, Lessee hereby covenants and shall increase at such times and in such amount agrees to pay Lessor as Base Rent for the initial Subleased PremisesPremises the sum of $138,600.00 per Lease year payable in equal monthly installments of $11,550.00, it being plus applicable sales or use tax, which Base Rent shall be due in advance on the intent first of Sublandlord each month, without demand, at the offices of Lessor in the city of Lake Mary, Florida, or at such other place and Subtenant that to such other person as Lessor may from time to time designate in writing. Base Rent is adjustable as set forth hereafter and in Paragraph 6 of this Lease. In the event of a renewal of this Lease pursuant to Paragraph 3 above, the base yearly rent shall be adjusted by any change in the index known as the "United States Bureau of Labor Statistics, Consumer Price Index for all Urban Consumers (all items), United States City Average (1982 equals 100)" (hereinafter referred to as the "Index"). The Base Rent adjustment for changes in the Index shall be accomplished by multiply the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of last prevailing under this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased Lease by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is shall be the number of complete or partial calendar months remaining in Index for the Term as second month preceding the last month of the date Subtenant delivers its Exercise Notice and the then current Lease Year. The denominator of which the fraction shall be the Index for the last month prior to the last rental adjustment. There shall be no adjustment in rent if the foregoing calculation results in a lower rental payment, it being the intent that rent will adjust upward, but not downward. After making the foregoing calculation, if Base Rent is forty-eight (48) (to be adjusted, the “Fraction”). Subtenant will deliver such increased portion adjusted rental amount shall become due with the first payment of Base Rent due on the first month of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent new term, and shall apply for the Expansion Space)remainder of that term. Any If the Consumer Price Index, as now constituted, compiled and published, shall cease to be compiled and published during the term hereof, and all extensions thereof, then the parties shall utilize a comparable index. All rent, additional rent and other sums due to be paid under this Lease are in United States Dollars. All sums due to be paid by the Lessee to Lessor under this Lease are deemed to be "rent", whether or not such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovesums are called "rent" in this Lease.

Appears in 1 contract

Samples: Business Lease (Faro Technologies Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for On the Expansion Space date that Tenant executes this Lease, Tenant shall be deliver to Landlord the same as original executed Lease, the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and (which shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that be applied against the Base Rent rate(s) per rentable square foot payable for the Expansion Space shall always first month Tenant is required to pay Base Rent), the Security Deposit, if any, and all insurance certificates evidencing the insurance required to be the same as obtained by Tenant under SECTION 12 of this Lease. Tenant agrees to pay Landlord, without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent rate(s) per rentable square foot for described in the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for Basic Lease Information, payable in advance at Landlord's address specified in the Expansion Space Basic Lease Information on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary day of each month commencing on January 1, 1999 (the "Rent Commencement Date") and continuing throughout the balance of the Commencement DateTerm of the Lease. Commencing January 1, six (6) months’ 2000, the Base Rent initially payable shall increase annually by four percent (4%) per annum. It is intended by Landlord and Tenant that this Lease be a "triple net lease." Costs and expenses incurred by Landlord on behalf of Tenant and all other sums, charges, costs and expenses specified in this Lease other than Base Rent are to be paid by Tenant to Landlord as additional rent (collectively, "Additional Rent"). Tenant shall also pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the Expansion Space; or waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (B30) if Subtenant delivers its Exercise Notice following day month. The prorated Rent shall be paid on the Commencement Date and the first (1st) anniversary day of the Commencement Datecalendar month in which the date of termination occurs, (x) six months as the case may be. 8 Subject to SECTION 2.4, all Rent other than Base Rent shall be due and owing on the Commencement Date notwithstanding any delay on Tenant's part to obtain permits and complete construction of the Tenant Improvements (described below and in EXHIBIT B attached hereto), whether or not such delay is due to factors within Tenant's control. Tenant expressly agrees and acknowledges that subject to SECTION 2.4, all Rent other than Base Rent shall be due and payable for beginning on the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete Commencement Date whether or partial calendar months remaining not Tenant has commenced operations in the Term as Premises and Tenant accepts the risk of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver any such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovedelays.

Appears in 1 contract

Samples: Lease Agreement (New Ico Global Communications Holdings LTD)

Rent. (i) The Base Rent rate(s) per rentable square foot for On the Expansion Space date that Tenant executes this Lease, Tenant shall be deliver to Landlord the same as original executed Lease, the Base Rent rate(s) per rentable square foot (which shall be applied against the Rent payable for the initial Subleased Premises on first month Tenant is required to pay Base Rent), the date Security Deposit, the term for the Expansion Space commencesCleaning Deposit, and shall increase at such times and in such amount as Base Rent for all insurance certificates evidencing the initial Subleased Premisesinsurance required to be obtained by Tenant under Section 12 of this Lease. Tenaxx xxxees to pay Landlord, it being the intent of Sublandlord and Subtenant that without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent rate(s) per rentable square foot for described on Page 1, payable in advance at Landlord's address shown on Page 1 on the Expansion Space shall always be first day of each month throughout the same as term of the Lease. In addition to the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant set forth on Page 1, Tenant shall pay Operating Costs for the Expansion Space Landlord in advance and on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary day of each month throughout the Commencement Dateterm of this Lease (including any extensions of such term), six (6) months’ Base as Additional Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary Tenant's share, as set forth on Page 1, of the Commencement DateOperating Expenses, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fractionTax Expenses, the numerator of which is the number of complete or partial calendar months remaining Common Area Utility Costs, and Utility Expenses, and Administrative Expenses all in the Term manner as specified in Sections 6.1, 6.2, 6.3, 6.4 and 7 of this Lease, respectively. Additionally, Tenant shall pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the date Subtenant delivers its Exercise Notice and the denominator provisions of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Security Deposit prior Premises by Tenaxx, xxsts associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to Subtenant’s occupancy the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the Expansion Space (but Subtenant’s failure requirement to timely deliver such increased portion pay rental payments shall only apply to waiver of the Security Deposit will Base Rent and Tenant shall otherwise perform all other obligations of Tenant hereunder, including, but not postpone limited to paying to Landlord any and all amounts considered additional rent, such as Tenant's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses, and Administrative Expenses. If, at any time, Tenant is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Landlord of Tenant's requirement to pay rental payments shall be null and void and Tenant shall immediately pay to Landlord all rental payments waived by Landlord. The Rent for any fractional part of a calendar month at the commencement or termination of Subtenant’s obligation to pay Base the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for Commencement Date and the Expansion Spacefirst day of the calendar month in which the date of termination occurs, as, when and if as the initial Security Deposit is reduced pursuant to Section 5(b) abovecase may be.

Appears in 1 contract

Samples: Lease Agreement (Ameriquest Technologies Inc)

Rent. (ia) The Base Rent rate(sSubject to subsection (c) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises below, commencing on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of after the Commencement Date, six Lessee shall pay Lessor all monetary obligations of Lessor under each Prime Lease for its respective Property (6including, without limitation, base, fixed or minimum rent, percentage rent, additional rent, common area maintenance charges, real estate taxes and assessments, insurance charges, waste removal charges, merchants association dues, marketing, advertising and other promotional fund contributions, utility charges, HVAC and chilled water charges) months’ Base Rent initially payable for (collectively, the Expansion Space; or"Property Rent"). (Bb) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of Commencing on and after the Commencement Date, Lessee shall pay directly to Lessor, at Lessor's office at the address designated for notices to Lessor in Section 11(a) hereof, all other amounts payable by Lessee that arise as an independent obligation under this Sublease (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction"Additional Rent", together with the Property Rent, the numerator of which is the number of complete "Rent"). (c) Lessor and Lessee agree to cooperate, and to take all reasonably necessary or partial calendar months remaining in the Term as desirable actions possible, to arrange for all payments by Lessee of the date Subtenant delivers its Exercise Notice Property Rent with respect to each Property directly to Prime Landlord with respect to such Property, and, with respect to each Property, to otherwise establish a direct relationship between Prime Landlord and Lessee with respect to all matters arising under the denominator of which is forty-eight (48) (the “Fraction”)Prime Lease with respect to such Property and this Sublease with respect to such Property. Subtenant will deliver such increased portion All Property Rent with respect to any Property shall be paid in lawful money of the Security Deposit prior United States to Subtenant’s occupancy of the Expansion Space Prime Landlord with respect to such Property (but Subtenant’s failure to timely deliver or, if such increased portion of the Security Deposit Prime Landlord will not postpone agree to such arrangement, then to Lessor at Lessor's office at the commencement of Subtenant’s obligation address designated for notices to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to Lessor in Section 11(a) hereof in immediately available funds at least two (2) months’ Base Business Days prior to the date when such Property Rent is due and payable under such Prime Lease), or at such other place as either Prime Landlord or Lessor may designate, as the case may be, by notice to Lessee. Lessor and Lessee agree that it is the intention of Lessor and Lessee to pass all of Lessor's obligations for Property Rent incurred under the Expansion SpacePrime Lease with respect to each Property to Lessee, asand Lessee agrees to pay or otherwise reimburse Lessor for all of Lessor's obligations for Property Rent incurred with respect to each Prime Leases and each Property. If a Prime Landlord will not accept a direct payment from Lessee of Property Rent under the respective Prime Lease, then, provided Lessee shall have delivered such Property Rent payment to Lessor within the time and in the manner specified in this subsection (c), Lessor shall deliver such payment of Property Rent to such Prime Landlord on or prior to the date when such Property Rent is due and if payable under such Prime Lease and in such manner as provided under the initial Security Deposit is reduced pursuant to respective Prime Lease. (d) All obligations of Lessee and Lessor under this Section 5(b) above4 shall survive the termination of the Prime Leases or this Sublease.

Appears in 1 contract

Samples: Master Sublease (Charming Shoppes Inc)

Rent. (i) 4.1 The Base Rent rate(s) per rentable square foot consideration payable by Subtenant for the Expansion Space Premises shall be the same as consist of the Base Rent rate(s) per rentable square foot for under Section 4.2, the initial Subleased Premises Additional Rent under Section 4.3 and the Other Charges under Section 4.4. Base Rent, Additional Rent and Other Charges are collectively referred to as "Rent." Subtenant's covenant to pay Rent shall be independent of every other covenant in this Sublease. 4.2 Beginning on the date Commencement Date and continuing thereafter on the term for first day of each month during the Expansion Space commencesTerm, Subtenant shall pay to Sublandlord in advance, and shall increase at such times and without notice, demand, deduction or offset, the monthly Base Rent specified in such amount as the Basic Sublease Provisions. Base Rent for the initial Subleased Premisesany partial month will be prorated, it being the intent of Sublandlord and Subtenant that the Base Rent rate(sbased on a thirty (30) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) day month. Subtenant shall pay Operating Costs the first full month's Rent on the Execution Date, and if the Commencement Date is not the first day of the month, then Subtenant shall pay the prorated Rent for the Expansion Space first partial month on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date. 4.3 Throughout the Term, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term also shall pay as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to "Additional Rent" an amount equal to two Subtenant's Share (2as specified in the Basic Sublease Provisions) months’ of all additional rent payable by Sublandlord under the Master Lease, insofar as applicable to the period encompassed by the Term, to reimburse Master Landlord for taxes, insurance, operating expenses, common area maintenance charges, management fees, capital expenditures for required repairs or improvements, and/or other expenses incurred by Master Landlord in connection with the Building (collectively, "Master Lease Pass Through Costs"). To the extent Master Lease Pass Through Costs are payable on a monthly estimated basis, the Additional Rent in respect thereto shall be paid as and when Base Rent for is due based on Master Landlord's estimates; and upon any reconciliation of estimated and actual Master Lease Pass Through Costs, the Expansion Spacecorresponding Additional Rent shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within twenty (20) days after delivery to Subtenant of any reconciliation statement under the Master Lease. For purposes of calculating Additional Rent, as, when Sublandlord shall be entitled to rely conclusively on Master Landlord's determination of estimated and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveactual Master Lease Pass Through Costs.

Appears in 1 contract

Samples: Sublease (E Centives Inc)

Rent. (ia) The Commencing on the Commencement Date and on the first (1st ) day of each month thereafter and continuing until the Initial Expiration Date, Subtenant shall pay to Sublandlord, for the use of Premises, annual “Base Rent rate(sRent” at a rate of Two Dollars and Sixty Cents ($2.60) per rentable square foot of Rentable Area, for the Expansion Space shall be the same as the Base Rent rate(sa total monthly amount of Eighteen Thousand Two Hundred Ninety Eight Dollars and Eighty Cents ($18,298.80) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (iib) Subtenant shall pay as “Additional Rent” any late fees and charges, Excess Utility Costs, Special Cleaning Services Charges or other charges owed by Subtenant under this Sublease. The Parties hereby acknowledge and agree that notwithstanding anything herein to the contrary, in no event shall the Additional Rent payable by Subtenant hereunder be deemed to include Tenant’s Proportionate Share of any increases in Insurance Costs, Operating Costs and/or Taxes as contemplated under Section 6.2 of the Lease and Sublandlord shall remain solely responsible for all such costs. In the Expansion Space on event any of the same terms Lease Provisions that are incorporated into this Sublease contain references to Tenant’s Proportionate Share of Operating Costs and/or Taxes, such language shall be disregarded and conditions set forth in Section 4 of deemed inapplicable to Subtenant’s obligations under this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iiic) Base Rent, Additional Rent and all other amounts payable by Subtenant hereunder (collectively, “Rent”), shall be paid by Subtenant in United States legal tender, without any set-off or deduction whatsoever, to Sublandlord at the following address: Accesia, Inc. c/o The Security Deposit will be increased by an amount equal to:Xxxxxxxx Organization, 0000 Xxxxxxxxx Xxxxxx XX, Xxxxxx, Xxxx 00000, or to such other party or such other place as Sublandlord may from to time designate in writing to Subtenant. (Ad) if Subtenant delivers its Exercise Notice prior to Base Rent for each month during the Sublease Term shall be due and payable in advance, on or before the first (1st) anniversary day of each month, without demand and without any set-off or deduction whatsoever. If Base Rent, Additional Rent, or any other sums payable by Subtenant to Sublandlord hereunder are not paid by Subtenant when such payment is due, Subtenant shall pay Sublandlord interest and late charges on all overdue amounts as provided in Sections 33.8 and 33.9 of the Commencement DateLease. Notwithstanding the foregoing, six (6) months’ Base Rent initially payable Sublandlord will not assess a late charge until Sublandlord has given written notice of such late payment for the Expansion Space; or first late payment in any twelve (B12) if month period and after Subtenant delivers its Exercise Notice has not cured such late payment within three (3) days from receipt of such notice. No other notices will be required during the following twelve (12) months for a late charge to be incurred. Rent for any partial month during the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied Sublease Term shall be prorated by (y) a fraction, the numerator of which is dividing the number of complete or partial days in such month that fall within the Sublease Term by the total number of calendar months remaining days in such month. Concurrently with the Term as execution of the date this Sublease, Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to shall pay Sublandlord Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovefirst month of this Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Tobira Therapeutics, Inc.)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being month of Closing and any month after Closing collected by Seller prior to Closing shall be apportioned as of the intent Closing Date. If any tenant is in arrears in the payment of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space rent on the same terms and conditions set forth in Section 4 of this SubleaseClosing Date, provided that Subtenant’s Percentage Share rents received from such tenant after the Closing shall be increased appropriately applied in the following order of priority: (a) first, to account the payment of current rent then due; (b) second, to delinquent rent for any period after the addition of the Expansion Space. Closing Date; and (iiic) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice third, to delinquent rent for any period prior to the first Closing Date. Such delinquent rent shall be paid to Seller within thirty (1st30) anniversary days of the Commencement Date, six (6) months’ Base Rent initially payable receipt by Purchaser. Purchaser does not guarantee or undertake any obligation to sue or take other action for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary xxllection of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining arrearages in the Term rents due from tenants as of the date Subtenant delivers its Exercise Notice Closing Date; provided, however, Seller shall have the right to pursue and collect such delinquent rents by any remedies available to it at law or equity. If rents or any portion thereof received by Seller or Purchaser after the denominator Closing Date are payable to the other party by reason of this allocation, the appropriate sum, less a proportionate share of any reasonable attorneys' fees, costs and expenses of collection thereof, if any, shall be promptly paid to the other party, which is fortyobligation shall survive the Closing. If any tenants are required to pay percentage rents, escalation charges for real estate taxes, operating expenses, cost-eight of-living adjustments or other charges of a similar nature (48"Additional Rents") (and any Additional Rents are collected by Purchaser after the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit Closing which are attributable in whole or in part to any period prior to Subtenant’s occupancy the Closing, then Purchaser shall promptly pay to Seller Seller's proportionate share thereof, provided that, Purchaser has been paid current rent, less a proportionate share of any reasonable attorneys' fees, costs and expenses of collection thereof, if any, if and when the Expansion Space (but Subtenant’s failure tenant paying the same has made such payments of Additional Rent then due to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced Purchaser pursuant to Section 5(b) abovethe tenant's Lease, which obligation shall survive the Closing.

Appears in 1 contract

Samples: Real Estate Purchase Agreement (Cv Reit Inc)

Rent. (a) The Lessee shall pay FBTC Basic Rent and Lessor Basic Rent on the Acquisition Date. Thereafter the Lessee shall pay Basic Rent (to the extent such Basic Rent (or any component thereof) is then due and owing) on (x) each Payment Date during the Term, (y) the date required under Section 24.1(i) in connection with the Lessee's exercise of the Remarketing Option, and (z) any date on which this Lease shall terminate. The Lessee and Lessor hereby agree that amounts which would otherwise be payable by Lessee to Lessor hereunder as Lessor Basic Rent are payable as interest on the Pledged Securities pursuant to the terms of the Securities Pledge Agreement and such amounts shall not constitute Rent hereunder. (b) Rent shall be due and payable in lawful money of the United States and, after the occurrence and during the continuance of a Cash Management Event, shall be paid by wire transfer of immediately available funds on the due date therefor from the relevant Sub-Accounts of the Cash Collateral Account, to the extent funds exist therein. With the exception of the first payment on the Acquisition Date of FBTC Basic Rent and Lessor Basic Rent, for which at least two (2) Business Days prior written notice from the Lessor shall be provided, the Lessor shall provide written notice of the amount of Basic Rent due at least five (5) Business Days prior to each due date therefor; provided, however, that the failure of the Lessor to provide such notice shall not affect Lessee's obligations hereunder or impose liability on Lessor. Lessee shall deposit all security deposits received by it with respect to the Property into the Security Deposit Account and shall cause all relevant checks to be made payable to the name of the Security Deposit Account. (c) So long as a Cash Management Event is not continuing, Rent shall be payable by wire transfer of immediately available funds on the due date therefor as follows: (i) The Base Lessor Basic Rent rate(s) per rentable square foot for and FBTC Basic Rent and Supplemental Rent to which the Expansion Space Lessor is entitled shall be payable to the same as Lessor at the Base Rent rate(s) per rentable square foot for place of payment designated in writing by the initial Subleased Premises on the date the term for the Expansion Space commences, Lessor and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant the remainder of Basic Rent and Supplemental Rent to which the Lender is entitled shall pay Operating Costs for be payable to the Expansion Space on the same terms and conditions Lender or Lender's designee or to an account identified by Lender or Lender's designee as set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition 2.12 (b) of the Expansion SpaceNomura Loan Agreement. (iiid) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior Neither the Lessee's inability or failure to the first (1st) anniversary take possession of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete all or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased any portion of the Security Deposit prior Property when delivered by the Lessor, whether or not attributable to Subtenant’s occupancy any act or omission of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of Lessee, or for any other reason whatsoever, shall delay or otherwise affect the Security Deposit will not postpone the commencement of Subtenant’s Lessee's obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for Property in accordance with the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveterms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Brookdale Living Communities Inc)

Rent. Tenant shall all times maintain the rental payments due and owing on the Existing Space as described under the terms of the Lease. The FurnitureMax Rental Commencement Date shall be a date which is the earlier of (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date on which Tenant shall open the term FurnitureMax Space for business; or (ii) sixty (60) after the Expansion date Landlord delivers the Space commences, and to Tenant. Tenant shall increase at such times and in such amount as Base pay Fixed Rent for the initial Subleased Premises, it being FurnitureMax Space from and after the intent FurnitureMax Rental Commencement Date as follows: From the FurnitureMax Rental Date through the fifth lease year of Sublandlord the Initial Amendment Term - Forty-Two Thousand Six Hundred Three and Subtenant that the Base Rent rate(sDollars per year based upon Eight and Dollars ($8.75) per rentable square foot of floor area; , , (b) From the sixth lease year of the Initial Amendment Term through the balance of the Initial Amendment Term - Forty-Five Thousand Thirty Eight and Dollars ($45,038.25) per year based upon Nine and Dollars ($9.25) per square foot of , floor area. For any partial month, the Fixed Annual Rent shall be prorated on a daily basis. In addition to the Fixed Annual Rent, from and after the date of this Amendment, Tenant shall be responsible for Tenant's Proportionate Share of all taxes, assessments, common area costs, utility charges and all such charges due and payable to Landlord in full accordance with the Lease provisions connection therewith. Landlord and Tenant shall also provide for insurance for the Expansion Space in accordance with Article Twelve of the Lease. Tenant shall always be not pay Percentage Rent with respect to the same as the Base Rent rate(s) per rentable square foot FurnitweMax Space. Tenant shall pay rent for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same during renewal terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal toas follows: (Aa) if Subtenant delivers its Exercise Notice Annual rent for the first extended term shall be Fifty-Three Thousand Five Hundred Fifty Nine Dollars per year based on Eleven Dollars ($11 per square foot of floor area; (b) Annual rent for the second and subsequent extended terms shall be determined prior to the first (1st) anniversary commencement of any such renewal term in accordance with Article Three of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveLease.

Appears in 1 contract

Samples: Lease Amendment

Rent. (i) The Base Landlord may collect Rent rate(s) per rentable square foot for directly from the Expansion Space assignees, subtenants, or other transferees; but no Transfer shall be a deemed a waiver of Landlord’s rights under this Article or the same as acceptance of the Base Rent rate(s) per rentable square foot for proposed assignee, subtenant occupant or transferee, or a release of Tenant from the initial Subleased Premises on further performance of the date the term for the Expansion Space commencescovenants obligating Tenant under this Lease. Notwithstanding any Transfer, Tenant shall remain fully and primarily liable under this Lease and shall increase at not be released from performing any of the terms, covenants and conditions of this Lease. In the event of any assignment or sublease (other than the OCOM Sublease), Landlord shall receive as additional rent hereunder fifty percent (50%) of Tenant’s Excess Consideration (as defined below) derived from such times assignment or sublease. If Tenant shall elect to assign or sublet, Tenant shall use reasonable and good faith efforts to secure consideration from any such assignee or subtenant which would be generally equivalent to then-current market rent, but in such amount no event shall Tenant’s monetary obligations to Landlord, as Base Rent for the initial Subleased Premisesset forth in this Lease, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premisesreduced. (iia) Subtenant In the event of a sublease other than the OCOM Sublease, “Excess Consideration” shall pay Operating Costs mean all rent, additional rent or other consideration actually received by Tenant from such subtenant and/or actually paid by such subtenant on behalf of Tenant in connection with the subletting in excess of the rent, additional rent and other sums payable by Tenant under this Lease during the term of the sublease on a per square foot basis if less than all of the Premises is subleased, less marketing costs, attorneys’ fees and brokerage commissions, if any, reasonably incurred by Tenant to procure the sublease, and the cost of any alterations made by Tenant specifically for the Expansion Space on the same terms and conditions set forth in Section 4 benefit of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Spacesuch subtenant. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Master Lease Agreement (Global Medical REIT Inc.)

Rent. Tenant covenants and agrees to pay to Landlord, promptly when due, without notice or demand or deduction, abatement or set off of any amount for any reason whatsoever, as rent hereunder (i) The Base "Rent"), all Basic Rent rate(s) per rentable square foot and all Percentage Rent (as defined below). All Rent to be paid by Tenant to Landlord shall be in lawful currency of the United States of America and shall be paid to Landlord at the address or into the account as may be designated from time to time by Landlord ("Landlord's Address"). A. Basic rent for the Expansion Space Premises ("Basic Rent") shall be paid in monthly installments, each of which shall be due and payable in advance on the same as first business day of the Base calendar month in the amount specified in Exhibit A hereto. Basic Rent rate(s) per rentable square foot for the initial Subleased Premises partial month following the Effective Date shall be paid on or before the first business day of January 2016. B. In addition to the Basic Rent, Tenant shall also pay during the Term, without notice, demand, abatement, reduction or set off, additional percentage rent ("Percentage Rent") in accordance with the formulae for Percentage Rent set forth in Exhibit B hereto. Percentage Rent for each calendar month during the Term shall be payable in monthly installments on the date 20th day of the term following calendar month. Within 20 days after the end of each calendar month in the Term, Tenant shall deliver to Landlord a statement executed by Tenant accurately setting forth the amount of Gross Receipts for such month and Tenant's calculation of the Expansion Space commencesPercentage Rent payable for such month, itemized in reasonable detail. Within 90 days after the end of each calendar year of the Term, Tenant shall furnish to Landlord a statement accurately showing Gross Receipts and Percentage Rents for such year itemized in reasonable detail, and shall increase contemporaneously therewith pay any Percentage Rent due and unpaid for such year, provided, however, that if Tenant has overpaid Percentage Rents during such year, Landlord shall, at its option, either refund such times excess to Tenant or credit the amount thereof to the next succeeding monthly, installments of Percentage Rent payable by Tenant. With respect to the last Lease Year of the Term, such annual reconciliation and in such amount as Base Rent for adjustment, if any, shall be made within 30 days. The provisions of this Section 3.B shall survive the initial Subleased Premises, it being end of the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesTerm. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately C. The term "Gross Receipts" with respect to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal toany period shall: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Lease (KBS Strategic Opportunity REIT II, Inc.)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs in advance to Sublandlord basic rent of Four Thousand Dollars ($4,000) per month ("BASE RENT") for the Expansion Space on the same terms and conditions set forth in Section 4 term of this Sublease, provided that Subtenant’s Percentage Share payable on the Commencement Date and on the first day of each month thereafter during the term of this Sublease. Payment of Base Rent shall be increased appropriately to account for made without demand, notice, counterclaim, offset or deduction. It is the addition intention of the Expansion Space. (iii) The Security Deposit will parties that the payment of Base Rent provided above shall be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior absolutely "net" to the first (1st) anniversary Sublandlord, by which is meant that the parties intend that the Sublandlord shall have the Base Rent in hand after payment of any and all expenses that Sublandlord is required to pay on account of its leasehold interest in the Deacon Premises and that arise during the term of this Sublease. SECTION 17 of this Sublease sets forth additional provisions relative to the payment of expenses related to the Deacon Premises. All such expenses that Sublandlord is required to pay under the terms of the Commencement DateMaster Lease (or otherwise) with respect to the Deacon Premises (hereinafter referred to as "ADDITIONAL RENT"), six (6) months’ to the extent not directly paid by the Subtenant, shall be invoiced by the Sublandlord to the Subtenant and the Subtenant shall pay the Sublandlord the amount so invoiced, without further demand, notice, counterclaim, offset or deduction, within 30 days of invoice. Additional Rent includes all costs and expenses of any kind or description with respect to the Deacon Premises that are the responsibility of the "Tenant" under the Master Lease and that arise during the term of this Sublease. Base Rent initially payable for and Additional Rent are referred to herein collectively as "RENT". Subtenant's agreement to pay Rent is an independent covenant, with no right of setoff, deduction or counterclaim of any kind, except if and to the Expansion Space; or (B) if extent APPC objects to Subtenant delivers its Exercise Notice following occupying the first (1st) anniversary Deacon Premises. The obligation of the Commencement DateSubtenant to pay Rent accruing during the term of this Sublease, (x) six months whether Base Rent payable or Additional Rent, shall survive any termination of this Sublease or the Master Lease. Rent shall be prorated for any partial month at the Expansion Space multiplied beginning and/or end of the Sublease term, by dividing the stated monthly rental rate (yand Tenant's pro rata share of Additional Rent) a fraction, the numerator of which is by the number of complete or partial calendar months remaining days in such month during which Subtenant occupies the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveDeacon Premises.

Appears in 1 contract

Samples: Sublease Agreement (Voyager Petroleum, Inc.)

Rent. (i) The During the Term, Tenant shall pay Landlord, in monthly installments of 1/12th, annual Base Rent rate(s) per rentable square foot for and Estimated Expenses, without notice, demand, abatement, offset or deduction except as otherwise expressly provided herein, in advance, on the Expansion Space first day of each calendar month, in accordance with the terms of this Lease. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. All Rent shall be made by Tenant payable to the same as entity and sent to the address Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable to Landlord or by Electronic Fund Transfer of immediately available federal funds. Base Rent, Real Property Taxes and Operating Expenses shall be appropriately prorated on a per diem basis for any partial month during the Term. The obligation of Tenant to pay Base Rent rate(sand other sums to Landlord and the obligations of Landlord under this Lease are independent obligations, except as otherwise expressly provided herein. If this Lease or Tenant’s right to possess the Premises is terminated on account of a monetary Event of Default by Tenant or material non-monetary Event of Default by Tenant, then (in addition to all other rights and remedies available to Landlord) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share Landlord shall be increased appropriately entitled to account for recover from Tenant that amount that is equal to the addition product of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary sum of the Commencement Dateall abated Base Rent, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space Real Property Taxes and Operating Expenses multiplied by (y) a fraction, the numerator of which is the difference between 162 and the number of complete or partial calendar months remaining in the Term as that Tenant has paid monthly installments of the date Subtenant delivers its Exercise Notice Base Rent, Real Property Taxes and Operating Expenses, in full, to Landlord and the denominator of which is forty-eight (48) (162; provided, however, to the “Fraction”)extent Landlord otherwise recovers Rent hereunder it shall not recover any such amount. Subtenant will deliver Landlord’s management fee shall not be reduced on account of any abatement in Base Rent, Real Property Taxes and Operating Expenses, and any such increased portion abatement shall be disregarded for purposes of calculating any management fee based on a percentage of rental revenues. If Tenant is delinquent in the Security Deposit prior to Subtenant’s occupancy payment of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base any Rent for the Expansion Space). Any such additional Security Deposit will be subject more than 5 days, then Tenant shall pay to reduction to an amount Landlord on demand a late charge equal to two 3% of such delinquent sum (2provided that such charge shall not be due with respect to the first three late payments in any 12 consecutive month period, unless Landlord fails to receive such late payment within 5 days after Tenant’s receipt of written notice from Landlord that such payment has not been received) months’ Base Rent and such delinquent sum shall also bear interest from the date such amount was due until paid in full at the Applicable Interest Rate. Tenant shall pay Landlord on demand for any cost incurred by Landlord and charged by its bank in connection with any check presented by Tenant which is not paid by the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant bank due to Section 5(b) aboveinsufficient funds.

Appears in 1 contract

Samples: Single Tenant Triple Net Lease (Prelude Therapeutics Inc)

Rent. 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the "Base Rent"). (b) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year. (c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year. (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as "Tenant's Monthly Utility Charge", and all such amounts shall constitute rent hereunder). (i) The Base Rent rate(sAll electricity directly serving the Premises ("Direct Electrical Costs") per rentable square foot for the Expansion Space shall be metered or submetered and Tenant shall pay, as monthly rental, the same actual cost (without mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord's election, as a payment directly to the Base Rent rate(sentity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent days of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesLandlord's delivery of an invoice to Tenant therefor. (ii) Subtenant With respect to all utility costs for the Premises other than Direct Electrical Costs (collectively, "Other Utility Costs"), Landlord shall have the right, from time to time, to equitably allocate some or all of such Other Utility Costs among different portions or occupants of the Building ("Cost Pools"), in Landlord's reasonable discretion. Such Cost Pools may include, but shall not be limited to, office space tenants, residential space occupants, and retail space tenants of the Building. The utility costs within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner (without markup by Landlord). (e) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated "additional rent." As used in this Lease, "rent" shall mean and include all Base Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. 3.2 The additional rent payable pursuant to sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof shall be calculated and paid in accordance with the following procedures: 1131701.06/SF372493-00050/1-31-20/pwn/pwn -4- (a) On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord's estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month during such ensuing calendar year, Tenant shall pay Operating Costs to Landlord, as monthly rent, one-twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior calendar year's estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the Expansion Space current calendar year will vary from Landlord's estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such calendar year. If Landlord delivers its estimate after the first day of a calendar year, or if Landlord revises its estimate for a calendar year, then subsequent payments by Tenant for such calendar year shall be based on such late or revised estimate, as the case may be, with an appropriate adjustment to the amount of such subsequent payments such that, prior to the end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord's entire estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year. (b) Within a reasonable time after the end of each calendar year, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statement. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord's right to receive, and Tenant's obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord's office in the Building or at such other location as Landlord may designate, for the purpose of verifying the information in such statement; provided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than one hundred eighty (180) days after Landlord shall have delivered the written statement pertaining to such period. If Xxxxxx wishes to dispute an amount shown on the same terms annual statement, Tenant shall give Landlord written notice of such dispute within one hundred eighty (180) days after Xxxxxx’s receipt of the annual statement. If Tenant does not give Landlord such notice within such time, Tenant shall have waived its right to dispute the annual statement. Promptly after the receipt of such written notice from Tenant, Landlord and conditions Tenant shall endeavor in good faith to resolve such dispute. If such efforts do not succeed, Xxxxxx shall have the right to cause a nationally recognized independent certified public accountant designated by Tenant, to be paid on an hourly and not a contingent fee basis, to audit the items questioned by Tenant in its original notice contesting the annual statement, provided that Tenant (i) notifies Landlord in writing of Tenant’s intention to exercise such audit right within thirty (30) days after the relevant initial written notice from Tenant to Landlord with respect to such dispute, (ii) actually begins such audit within thirty (30) days after the notice from Tenant to Landlord advising Landlord that Tenant will require an audit (provided that such 30-day period within which the audit must be commenced shall be extended by the length of any delay in the commencement of the audit that is caused by Landlord) and (iii) diligently pursues such audit to completion as quickly as reasonably possible. Xxxxxxxx agrees to make available to Xxxxxx’s auditors, at Landlord’s office in San Francisco and/or at Landlord’s office in the Building (at Landlord’s sole option), the books and records relevant to the audit for review and copying, but such books and records may not be removed from Landlord’s offices. Tenant shall bear all costs of such audit, including Landlord’s actual copying costs and personnel costs, if any incurred in connection with such audit (provided that, prior to incurring any personnel costs in connection with any such audit, Landlord shall advise Tenant of Landlord’s anticipated personnel costs so that Tenant may, at Tenant’s option, modify Tenant’s activities with regard to such audit in order to preclude the need for Landlord to incur such personnel costs), except that, if the audit (as conducted and certified by the auditor) shows an aggregate overstatement of Operating Expenses of five (5%) or more, and Xxxxxxxx’s auditors concur in 1131701.06/SF372493-00050/1-31-20/pwn/pwn -5- such findings (or, in the absence of such concurrence, such overstatement is confirmed by a court of competent jurisdiction or such other dispute resolution mechanism as to which the parties mutually agree in writing), then Landlord shall bear all costs of the audit. If the agreed or confirmed audit shows an underpayment of Operating Expenses by Xxxxxx, Tenant shall pay to Landlord, within thirty (30) days after the audit is agreed to or confirmed, the amount owed to Landlord, and, if the agreed or confirmed audit shows an overpayment of Operating Expenses by Xxxxxx, Landlord shall reimburse Tenant for such overpayment within thirty (30) days after the audit is agreed to or confirmed. Notwithstanding anything to the contrary set forth above, Xxxxxx’s audit rights under this section 3.2(b) shall be conditioned upon (i) Tenant having paid the total amounts billed by Landlord under this Article 3 within the time stipulated herein for payment (including, without limitation, the contested amounts) and (ii) Tenant executing, prior to the commencement of the audit, a confidentiality agreement in form and substance reasonably satisfactory to Landlord in which Tenant shall agree to keep confidential, and not disclose to any other party, the results of any such audit or any action taken by Landlord in response thereto. (c) If the Lease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof applicable to the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty-five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination. 3.3 Tenant shall pay all monthly installments of Base Rent and monthly installments of Landlord's estimates of amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof (collectively, "Monthly Rent") to Landlord, in advance, on or before the first day of each and every calendar month during the Lease Term, without notice, demand, deduction or offset except as otherwise expressly set forth in Section 4 of this SubleaseLease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition in lawful money of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior United States of America. Landlord instructs Tenant to pay all such Monthly Rent to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining address specified therefor in the Term Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of the date Subtenant delivers Tenant's designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”)sole discretion, may elect. Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s If Xxxxxx's obligation to pay Base Rent hereunder commences on a day other than the first day of a calendar month, or if the Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payable for such partial month shall be appropriately prorated on the Expansion Space)basis of a thirty (30)-day month. Any such additional Security Deposit will be subject Upon signing this Lease, Tenant shall pay to reduction to Landlord an amount equal to two (2) months’ the Base Rent for the Expansion Spacefirst full calendar month of the Term in which monthly Base Rent is payable, as, when and if which amount Landlord shall apply to the initial Security Deposit is reduced pursuant to Section 5(b) aboveBase Rent for such first full calendar month.

Appears in 1 contract

Samples: Lease (Dexcom Inc)

Rent. Sublessee shall pay to Sublessor rent (i"Fixed Rent") The Base in the amounts listed on Exhibit C attached hereto. However, Sublessee shall phase into the Premises, effective May 1, 1998, on a stepped basis such that the Sublessee shall only pay Fixed Rent rate(s) per for 15,000 rentable square foot feet during the first five (5) months of the Term, and pay Fixed Rent for the Expansion Space shall be the same as the Base Rent rate(s) per 20,000 rentable square foot for feet during months six (6) through eight (8) of the initial Subleased Premises on the date the term for the Expansion Space commencesSublease Term. Sublessee, and shall increase at such times and in such amount as Base pay Rent for the initial Subleased entire Premises (23,575 rentable square feet) beginning on January 1, 1999. Fixed Rent shall be paid monthly in advance on the first day of each month during the term of this Sublease. Fixed Rent, Sublessee's share of the Operating Expenses, as defined in Section 4.2 of the Main Lease, and all other amounts ("Additional Charges") payable by Sublessee to Sublessor under the provisions of this Sublease or the provisions of the Main Lease shall be paid promptly when due, without notice or demand therefor (unless Sublessor receives notice or demand therefor from the Lessor under the Main Lease), and without deduction, abatement, counterclaim or setoff of any amount for any reason whatsoever. Rent for any partial month of the Sublease Term shall be prorated in the proportion that the number of days this Sublease is in effect during such month bears to the actual number of days in such month. If, based upon Lessor's statement of actual expenses or an audit performed pursuant to Paragraph 4.2(g) of the Main Lease (which audit Sublessor agrees to have performed, at Sublessee's expense, if requested by Sublessee in writing), Sublessee has underpaid or overpaid the amount of Rent owing pursuant to the Master Lease (as incorporated into this Sublease), Sublessee shall (as applicable) pay to Sublessor the amount of such underpayment or, Sublessor shall pay to Sublessee the amount of such overpayment. If Sublessor shall be responsible for any Additional Charges due under the Main Lease which is not attributable to Sublessee's use or occupancy of the Premises, it being no such Additional Charges shall be payable by Sublessee, including, without limitation, Additional Charges incurred as a result of Sublessor's failure to provide Lessor with timely payment of Rent. All Rent payments, Operating Expenses and Additional Charges shall be made payable to Sublessor at the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions address set forth in Section 4 26 of this SubleaseSublease Agreement, provided that Subtenant’s Percentage Share or at such place as may be designated by Sublessor. Fixed Rent and Additional Charges shall be increased appropriately paid to account for the addition Sublessor in lawful money of the Expansion Space. (iii) The Security Deposit will United States at the address of Sublessor set forth in Section 26 of this Agreement, or to such other person and/or at such other address as Sublessor may from time to time designate by written notice to Sublessee. No payment by Sublessee or receipt by Sublessor of any lesser amount than the amount stipulated to be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will paid hereunder shall be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.deemed other than on account

Appears in 1 contract

Samples: Sublease Agreement (Intervu Inc)

Rent. (ia) The Base Rent rate(s(specified in Section 1.1 hereof) per rentable square foot for the Expansion Space and any additional rent or other charges payable pursuant to this Lease shall be the same payable by Sublessee to Sublessor by mailing such rent payment to Genzyme Corporation, P.O. Xxx 0000, Xxxxxx, Xxxxxxxxxxxxx 00000-0000 (xx such other place as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesSublessor may from time to time designate by notice to Sublessee). (iib) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share Rent shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to payable in advance on the first (1st) anniversary day of each and every calendar month during the term of this Sublease. (c) Rent for any partial month shall be paid by Sublessee to Sublessor at such rate on a prorata basis. Other charges payable by Sublessee on a monthly basis, as hereinafter provided, shall likewise be prorated. (d) All Rent and other amounts due under this Sublease shall be made without demand, offset or deduction. Sublessee shall be entitled to a fair and equitable share of all abatements of rent and rent adjustments set forth in the Prime Lease which Sublessor has been granted with respect to the Premises. (e) Sublessee represents and Sublessor acknowledges that, as of the Commencement DateDate and for the period of approximately six months thereafter, six (6) months’ Base Rent initially Sublessee expects to use the approximately 2,638 rentable square foot portion of the Premises identified on Exhibit A as the "Expansion Space" for only limited purposes. Accordingly, Sublessor hereby agrees that Sublessee shall have no obligation to pay any rent with respect to the Expansion Space until May 1, 1997. From and after May 1, 1997, however, full rent shall be due and payable for with respect to the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable . Sublessor shall provide Sublessee with such "free rent" for the Expansion Space multiplied by applying to Sublessee's rental account for each month that Sublessee qualifies for free rent, a credit in the amount of $8,353.67. (yf) a fraction, the numerator of which It is the number of complete or partial calendar months remaining in the Term as intention of the date Subtenant delivers its Exercise Notice parties that Rent payable by Sublessee under this Sublease shall be a "gross rent" that includes amounts on account of base rent, utilities, operating expenses and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior real estate taxes payable by Sublessee to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.Sublessor; i.

Appears in 1 contract

Samples: Sublease (Dyax Corp)

Rent. A. Unless otherwise specified on Schedule 1, the rent (i) The Base Rent rate(s) per rentable square foot for the Expansion Space “Rent”), shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to the Basic Allowance for Housing (“BAH”) at the applicable BAH rate for the service member Tenant’s duty station and military grade [which shall include any Owner provided utilities] OR [minus the utility allowance for the Premises, as defined in the utility allowance addendum] [and minus Rent concessions identified in Box 8 on Schedule 1 if applicable]. If Tenant’s duty station is not at [Insert Name of Installation] (the “Installation”) where the Premises are located, BAH shall be determined in accordance with Service policy applicable to such Tenant2. Rent shall be payable in arrears (i.e., each Rent payment pays Rent for the previous month) in monthly installments. Rent is due on the calendar day identified in Box 7 on Schedule 1. If Xxxxxx’s BAH rate changes at any time during the term of this Lease, Tenant must notify Owner within thirty (30) calendar days of the change. Notwithstanding the foregoing, upon an increase in Tenant’s BAH, Rent shall increase automatically to the new BAH rate, whether or not Tenant provides notice to Owner of such increase and Tenant waives any notice from Owner of an automatic rent increase. If this Lease begins after the first day of the month, Tenant shall pay the prorated amount based upon 1/30th of the monthly Rent. Tenant shall pay the partial month Rent shown in Box 16 on Schedule 1 on the Payment Date in the following month. (1) If the Premises is occupied by two or more married Tenants, both of whom are active duty service members, the Rent will be the equivalent BAH rate for the highest ranking Tenant, at the With Dependents rate, for the Installation as set out in Box 7 on Schedule 1[minus the Utility Allowance for the Premises (if applicable)]. (2) months’ Base If the Tenant has been designated as a key and essential employee by the Installation, and is single or not accompanied by family members, the Rent will be equal to the Tenant’s housing allowance at the “Without Dependent rate,” [minus the Utility Allowance for the Expansion SpacePremises (if applicable)]. (3) If Owner elects to provide Tenant a home in a housing category higher than Tenant’s military pay grade, asthen the Rent will be based on the applicable BAH rate for the Tenant’s military pay grade. If Tenant elects to reside in a home that is in a housing category higher or lower than Tenant’s military pay grade, when then the parties shall execute an addendum that states the basis and amount of the Rent. B. Unless otherwise provided for in the Community Specific Addendum, Rent shall be paid through (i) Unit Diary Entry Electronic Funds Transfer (UDEFT) (Marine Corps), (ii) Military Assistance Company (MAC) [XXXX] (Navy/Air Force/Army), or (iii) PeopleSoft (Coast Guard), if applicable (each, as applicable, a “Rent Payment Service Option”). If a Rent Payment Service Option is not applicable, Rent may be paid to Owner or its designated agent by payroll allotment/deduction (the initial Security Deposit “Allotment”). Rent and all other charges owed by Xxxxxx and not paid by a Rent Payment Service Option or Allotment will be payable by another means reasonably directed by Owner, which at Owner’s option may include personal check, certified check, money order, automated clearing house or through other payment methods (e.g. online/website, smart device application) which alternate means may be changed from time to time with 30 days written notice to Tenant and each of which may be subject to applicable service charges. Owner will apply payments to any previously owed Rental amounts prior to current Rents or as otherwise required by applicable law. C. After the Premises is reduced pursuant vacated, any refund due to Section 5(bTenant will be made within thirty (30) abovecalendar days of Owner’s or Community Manager’s receipt of the Allotment applicable to month of move-out or within the time period required by applicable law as noted in the Community Specific Addendum. D. Tenant may be required to pay a security deposit, if any, as more particularly set forth on Schedule 1. Owner shall hold such security deposit in accordance with the terms in the Community Specific Addendum.

Appears in 1 contract

Samples: Lease Agreement

Rent. (i) The Tenant shall pay to Landlord, by check to be received at the business address of Landlord designated herein, on or before the first day of each month during the Term of this Lease, the following Base Rent rate(s) Rent: $5,833.00 per rentable square foot month for the Expansion Space two-year initial term of the Lease, which amount shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term adjusted effective as of the date Subtenant delivers its Exercise Notice and first day of any renewal term in the denominator of which is forty-eight (48) (the “Fraction”)manner provided in Paragraph VI below. Subtenant will deliver such increased In addition thereto, as an integral portion of the Security Deposit prior rent and as more particularly set forth as a covenant herein, Tenant shall pay Additional Rent, consisting of all insurances required herein, all taxes that may be assessed upon the Premises as provided herein, and the cost of all maintenance on the Premises as provided herein. Base Rent and Additional Rent, along with all other sums that become payable by Tenant to Subtenant’s occupancy Landlord under this Lease, whether paid to Landlord directly, or paid to a third party for the benefit of Landlord and the Expansion Space (but Subtenant’s failure Premises, are referred to timely deliver such increased portion of herein as "Rent." Tenant shall pay all Rent promptly when due without notice or demand therefor and without any abatement, deduction or off set, for any reason whatsoever, except as may be expressly provided in this Lease. If the Security Deposit will not postpone the commencement of Subtenant’s Tenant's obligation to pay Base Rent does not commence on the first day of a calendar month, or does not expire on the last day of a calendar month, the Base Rent payable by Tenant on the first fractional month, or the last fractional month, as the case may be, shall be prorated for said month. Base Rent for any partial month at the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ beginning of the Term, and Base Rent for the Expansion Spacefirst full calendar month of the Term, asshall be paid upon execution of this Lease. Tenant acknowledges that Tenant's late payment of Rent due Landlord will cause Landlord to incur costs not contemplated by this Lease, when the exact amount of such cost being extremely difficult and impractical to ascertain. Therefore, if Landlord does not receive any portion of the initial Security Deposit Rent due from Tenant within five (5) business days after notice to Tenant that such payment is reduced pursuant overdue, Tenant shall pay to Section 5(bLandlord an additional sum equal to five percent (5%) aboveof the overdue amount, which late charge (a) shall be due and payable on demand, (b) constitutes liquidated damages for each delinquent payment under applicable law, and (c) the payment of late charges and the payment of interest are distinct and separate from one another in that the payment of interest is to compensate Landlord for the use of Landlord's money by Tenant, while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by Landlord in handling and processing delinquent payments. By their execution of this Lease, Landlord and Tenant confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or to any other default under this Lease. Additionally, all such delinquent Rent, plus any late charge, shall bear interest at the rate of fourteen percent (14%) per annum, or, if lower, the maximum interest rate permitted by law (as applicable, the "Default Rate"), from the date due until paid. If any payment of Rent is returned for insufficient funds, Landlord may require Tenant to pay all future payments by cashier's check.

Appears in 1 contract

Samples: Lease Agreement (Pyramid Breweries Inc)

Rent. (ia) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises Commencing on the date the term for the Expansion Space commencesCommencement Date, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the Expansion Space on the same terms and conditions set forth in Section 4 term of this Sublease, provided that Subtenant’s Percentage Share without offset, deduction or abatement, which Monthly Base Rent shall be increased appropriately to account in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the addition beginning or the end of the Expansion Spaceterm of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) The Security Deposit will be increased any charges permitted by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior and pursuant to the first (1st) anniversary Sublease or the Master Lease as a result of actions or omissions of the Commencement DateSubtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the FractionAdditional Rent”). All such amounts shall be payable in full by Subtenant will deliver such increased portion as directed by Sublandlord within ten (10) days after submission of the Security Deposit prior a written invoice therefor by Sublandlord to Subtenant’s occupancy , and such obligations shall survive the expiration or earlier termination of the Expansion Space this Sublease. 4510092v4 / 101022.0001 (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the Expansion Space)date due. Any such additional Security Deposit will be subject In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to reduction to an amount equal to two (2) months’ pay on the first day of a month the Monthly Base Rent payment for the Expansion Spacesuch month as a Default by Subtenant, as, when and if the initial Security Deposit is reduced pursuant shall be entitled to Section 5(b) aboveany and all remedies for such Default.

Appears in 1 contract

Samples: Sublease (Evolus, Inc.)

Rent. a. Subtenant covenants and agrees to pay Sublandlord, in advance, on or before the Commencement Date and on the first day of each subsequent calendar month during the Term base rent (“Base Rent”) in the following amounts: Period Monthly Rent PSF Monthly Installment Months 1*-12 $10.45 $20,290.42 Months 13-Expiration $10.76 $20,892.33 [* including any initial partial month] b. All amounts other than Base Rent that may be due Sublandlord under this Sublease shall be deemed “Additional Rent.” Subtenant covenants and agrees to pay Sublandlord all Additional Rent when due hereunder, without any setoff, abatement or deduction whatsoever. If no time period or due date is set forth herein for any particular item of Additional Rent, such Additional Rent shall be due within fifteen (15) days after presentation of an invoice therefor. Additional Rent and Base Rent shall hereinafter be collectively referred to herein as “Rent.” c. In addition to Base Rent, Subtenant shall pay to Sublandlord together with each installation of Base Rent, fifty-one percent (51%) (“Subtenant’s Share”) of Sublandlord’s Pro Rata Share (as defined in the Prime Lease) of (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same real estate taxes charged by Prime Landlord as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition 5 of the Expansion Space. Prime Lease, (ii) common area maintenance and management costs charged by Prime Landlord as set forth in Section 7 of the Prime Lease, (iii) The Security Deposit will be increased insurance for the Building charged by an amount equal to: Prime Landlord as set forth in Section 9 of the Prime Lease, and (iv) all other amounts payable by Sublandlord under the Prime Lease other than (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or set forth therein, (B) if amounts applicable to maintenance, repair, or replacement of only the Retained Premises, and (C) amounts due in connection with a breach or default by Sublandlord under the Prime Lease not caused by a breach or default of Subtenant delivers its Exercise Notice following hereunder. Subject to Section 11 hereof, Sublandlord shall be and shall remain responsible under the Prime Lease for all payments owed to Prime Landlord, except for any payments arising out of any act, request, violation, breach, or default of Subtenant, which shall be paid to Sublandlord, or, at Sublandlord’s election, to Prime Landlord, not less than five (5) business days before the date due to Prime Landlord. Sublandlord shall promptly deliver to Subtenant all statements, invoices and true-ups received from the Prime Landlord pursuant to Section 5 and Section 7 of the Prime Lease. d. Subtenant shall pay as Additional Rent Subtenant’s Share of all utilities consumed in the Premises within fifteen (15) days of Sublandlord’s presentation of the applicable utility company invoices therefor. e. If the Term does not begin on the first (1st) anniversary day or end on the last day of a calendar month, the Commencement Date, (x) six months Base monthly installment of Rent payable for that partial month shall be prorated by multiplying the Expansion Space multiplied Rent amount by (y) a fraction, the numerator of which is the number of complete or partial days of that calendar months remaining month included in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”)total number of days in the calendar month in question. f. All Rent shall be paid to Sublandlord in lawful currency of the United States at Sublandlord’s address set forth in Section 9 or at such other place designated by Sublandlord from time to time by written notice to Subtenant. Subtenant will deliver shall pay a late fee equal to five percent (5%) of any Rent not timely paid. In addition, all sums due and payable as Rent not paid within five (5) days following notice of nonpayment shall bear interest from the date originally due until paid at a rate per annum equal to the lesser of ten percent (10%) per annum and the maximum rate permitted under applicable law. All interest accrued under this Subsection shall be deemed to be Additional Rent. g. Concurrently with the execution of this Sublease, Subtenant shall deposit with Sublandlord the sum of $40,581.00 to secure the faithful performance by Subtenant of all of the terms, covenants, and conditions of this Sublease by Subtenant to be kept and performed during the Term hereof. Subtenant agrees if it shall fail beyond any applicable notice and cure period to pay any installment of Rent provided in this Sublease, or if Subtenant shall be in default or breach of any of the other terms, covenants, or conditions of this Sublease beyond any applicable notice and cure period and Sublandlord shall suffer any damages as a result thereof, then Sublandlord may, at its option (but shall not be required to) apply said deposit to any Rent or other sum due and unpaid by Subtenant to Sublandlord hereunder, to any damage suffered by Sublandlord as a result of such increased default or breach and to any reasonable attorneys’ fees incurred by Sublandlord in connection therewith. Should any portion of the Security Deposit prior deposit be applied, then Subtenant shall forthwith remit to Subtenant’s occupancy of the Expansion Space (but Sublandlord a sufficient amount in cash to restore said security deposit to its original amount, and Subtenant’s failure to timely deliver such increased portion do so within five(5) business days after demand shall constitute a breach of this Sublease. The unappropriated balance of said security deposit shall be returned to Subtenant following the expiration of the Security Deposit will Term or upon any earlier termination not postpone the commencement of resulting from Subtenant’s obligation to pay Base Rent for default within thirty (30) days of such expiration or earlier termination. Under no circumstances shall the Expansion Space). Any such additional Security Deposit will deposit be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveused as or considered pre-paid rent.

Appears in 1 contract

Samples: Sublease (Wireless Telecom Group Inc)

Rent. The Tenant hereby covenants and agrees with the Landlord as follows: 3.1 That the Tenant shall pay to the Landlord during the Term (i) and any applicable renewal or extension thereof), without prior demand or any deduction or set off whatsoever, the aggregate of the Basic Rent and the Additional Rent. The Base Tenant acknowledges and agrees that the Landlord shall have the right to require the Tenant to pay to the Landlord the amount of the Sales Taxes on any payments of Rent rate(s) per rentable square foot for under this Lease and the Expansion Space shall be Tenant covenants and agrees to pay to the Landlord the amount of the Sales Taxes on any payments of Rent under this Lease at the same time as the Base Rent rate(s) per rentable square foot for amounts, to which the initial Subleased Premises on Sales Taxes apply, are payable to the date the term for the Expansion Space commencesLandlord under this Lease, and shall increase or upon demand at such other time or times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesLandlord may from time to time determine. (iia) Subtenant That payment of Rent shall pay Operating Costs for be made to the Expansion Space Landlord by the Tenant at the Landlord’s designated office or at such other place and to such other party as the Landlord may from time to time designate in writing. All payments of Rent shall be made in equal instalments on the same terms and conditions set forth first day of each month in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Spaceadvance. (iiib) The Security Deposit Tenant shall pay the Leased Area Expenses, the Tenant’s Proportionate Share of Common Area Expenses and the Tenant’s Proportionate Share of the Municipal Taxes, monthly in accordance with the reasonable forward estimates thereof made by the Landlord and shall be adjusted at the end of each Lease Year on the basis of the actual Leased Area Expenses and Common Area Expenses experienced during the Lease Year to which the adjustments relate, together with the final allocation of Municipal Taxes and the final calculation of the management and administration fee, determined by the Landlord for such Lease Year. All other Additional Rent shall be paid by the Tenant monthly or as otherwise demanded by the Landlord. (c) The failure of the Tenant to comply in any way with any of the provisions of this Article 3.2 shall be deemed to be an Event of Default under this Lease and, following expiry of the applicable cure period in Article 9.4, shall entitle the Landlord to exercise any and all remedies available to the Landlord under this Lease. 3.3 That if, at any time before or after the expiration or earlier termination of the Term, the Landlord shall suffer or incur any damage, loss or expense for which the Tenant is liable hereunder by reason of any failure of the Tenant to observe or comply with any of the covenants or agreements of the Tenant herein contained, or if the Landlord shall make any payment for which the Tenant is liable hereunder, then in every such case the amount of such damage, loss, expense or payment shall be payable by the Tenant to the Landlord on demand and the Landlord shall have the right at its option to add the cost or amount of any such damage, loss, expense or payment to the Rent hereby reserved and any such amount shall thereupon immediately be due and payable as Rent and recoverable in the manner provided by Applicable Laws for the recovery of rent in arrears. (a) The Tenant covenants and agrees that the failure by the Tenant to pay to the Landlord the amount of any Sales Taxes owing by the Tenant to the Landlord when due hereunder shall constitute an Event of Default by the Tenant under this Lease and will entitle the Landlord to exercise any and all rights and remedies available to the Landlord for the recovery of Rent in arrears. The Tenant further covenants and agrees that if any of the Sales Taxes are amended in such a manner that it imposes any additional financial obligations on the Landlord, the Tenant shall forthwith pay to and reimburse the Landlord for all such additional financial obligations and the Tenant agrees to execute such agreements and documents as the Landlord may reasonably require in order to ensure that such additional financial obligations will be increased paid by an amount equal to:the Tenant. (Ab) if Subtenant delivers its Exercise Notice prior Tenant may from time to time be provided with or request Additional Services from Landlord and Tenant shall pay to Landlord the Landlord’s charge for such Additional Services plus ten percent (10%) of such charge to cover Landlord’s cost of administration, payable forthwith upon delivery of Landlord’s invoice therefor. (c) If Landlord shall from time to time reasonably determine that the use of any utility or service in the Premises is disproportionate to the first (1st) anniversary use of the Commencement Dateother tenants operating during Standard Business Hours, six (6) months’ Base Rent initially payable then Landlord may separately charge Tenant as an Additional Service for the Expansion Space; orexcess costs attributable to such disproportionate use calculated on a reasonable basis. (Bd) if Subtenant delivers its Exercise Notice following Landlord may install and maintain, at Tenant’s expense, metering devices for measuring the first use of any utility or service in the Premises. Tenant shall pay Landlord within thirty (1st30) anniversary days of the Commencement Date, (x) six months Base Rent payable receipt of any invoice for the Expansion Space multiplied by cost of installation and maintenance of such device plus ten percent (y10%) a fraction, the numerator of which is the number such cost on account of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to SubtenantLandlord’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveoverhead.

Appears in 1 contract

Samples: Lease (Zymeworks Inc.)

Rent. (i) The 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent rate(s) per rentable square foot and Additional Rent due for the Expansion Space 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. Notwithstanding anything herein to the contrary, the taxes described in the immediately preceding sentence shall not be included in the “Taxes” defined in Exhibit B attached hereto. Base Rent and recurring monthly charges of Additional Rent shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises due and payable in advance on the date first day of each calendar month without notice or demand, provided that the term for the Expansion Space commences, and shall increase at such times and in such amount as installment of Base Rent for the initial Subleased Premisesfirst full calendar month of the Term, it being and the intent first monthly installment of Sublandlord Additional Rent for Expenses and Subtenant that Taxes, shall be payable upon the Base execution of this Lease by Tenant. All other items of Rent rate(s) per rentable square foot for shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the Expansion Space entity, and sent to the address, Landlord designates and shall always be the same as the Base made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant when due hereunder, Tenant shall pay Operating Costs for Landlord an administration fee in the Expansion Space on the same terms and conditions set forth in Section 4 amount of this Sublease$250.00, provided that Subtenant’s Percentage Share Tenant shall be increased appropriately entitled to account a grace period of up to 5 days for the addition first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 10% per annum, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the first (1st) anniversary of the Commencement Date, six (6) months’ Base contrary contained on or accompanying any such payment from Tenant. Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or any partial calendar months remaining in month during the Term as of the date Subtenant delivers its Exercise Notice shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and the denominator of which is forty-eight (48) (the “Fraction”)satisfaction. Subtenant will deliver such increased portion of the Security Deposit prior to SubtenantTenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation covenant to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveindependent of every other covenant in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Mobile Storage Group Inc)

Rent. Sublessee shall pay to Sublessor monthly base rent (ithe "Base Rent") in accordance with the base rent schedule attached hereto and made a part hereof as Exhibit C (BASE RENT SCHEDULE), plus any applicable sales or other tax (other than an income tax) which may now or hereafter come into effect. The Base Rent rate(s) per rentable square foot for the Expansion Space shall be paid in advance on the same first day of each month, commencing on ________________________________ (hereafter known as the “Rent Commencement Date”), without notice or demand and without abatement, deduction or offset, and will be sent to _________________________________. The first month's Base Rent rate(sinstallment (and any other sum due hereunder as of the Sublease Commencement Date) shall be paid upon the execution of this Sublease. In the event that the Term of this Sublease begins or ends on any day other than the first day of a calendar month, then the rental payments for such periods shall be prorated on a per rentable square foot for diem basis. Any installment of Base Rent or Additional Rent which is not paid when due under the initial Subleased Premises on terms of this Sublease shall be subject to, at Sublessor's sole option, a late charge of five percent (5%), to be charged as Additional Rent. Furthermore, in the event any payment of Base Rent or Additional Rent due to Sublessor is not received within five (5) days following written notice from Sublessor to Sublessee that such payment was not received, such amount due shall, in addition, bear interest from the date due until paid at a rate per annum equal to the term for prime rate published from time to time in the Expansion Space commencesWall Street Journal plus two percent (2%). When any provision of this Sublease requires the payment of any sums of money other than Base Rent, such sums of money shall be deemed Additional Rent (“Additional Rent”), and shall increase at such times be due and payable as provided for in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as absence of the date Subtenant delivers its Exercise Notice and the denominator a date, within (10) days following receipt of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveinvoice from Sublessor.

Appears in 1 contract

Samples: Sublease Agreement

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Rent. (ia) The Rent Commencement Date shall be May 1, 2004, Sublessee covenants and agrees to pay Sublessor during the term of this Sublease base rent (the “Base Rent”), without deduction or offset and without notice or demand, at the Sublessor’s address, as set forth in Paragraph 14 hereof, or to such other entity or at such other place as Sublessor may from time to time designate in writing as follows: Period Monthly Base Rent rate(sAnnual RSF 82 Months $ 24,800.00 $ 10.40 (b) per rentable square foot In addition to Base Rent, Sublessee covenants and agrees to pay Sublessor during the term of this Sublease the following expense items (collectively, the “Additional Rent”): (a) beginning January 1, 2005, thirty three percent (33%) (“Sublessee’s Proportionate Share”) of any increase in the “Operating Expenses,” as defined in Section 4 of the Lease, incurred by Sublessor pursuant to the terms of the Lease, over the Operating Expenses incurred by Sublessor for the Expansion Space calendar year 2004, which payments shall be payable by Sublessee to Sublessor in such amounts and in the same manner as the Base Rent rate(s) per rentable square foot Sublessor is obligated to Landlord for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount said expenses as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Subleasethe Lease; (b) beginning on the Commencement Date, any costs, fees or charges owed or payable by Sublessee pursuant to any services provided to Sublessee by Landlord or Sublessor, whether with or without Sublessor’s permission, that Subtenant’s Percentage Share are directly related to the Sublet Premises, including, but not limited to electricity, excess electricity or other utilities and any overtime HVAC charges related to the Sublet Premises; and (c) beginning on the Commencement Date, such other sums of money as shall be increased appropriately become due and payable by Sublessor to account for the addition Landlord pursuant to the Lease due to the actions or inactions of the Expansion SpaceSublessee in default of this Sublease or the Lease. The Base Rent and Additional Rent are collectively referred to hereinafter as the “Rent. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior ” Notwithstanding anything contained herein to the first (1st) anniversary contrary, although Sublessee shall not be required to pay Sublessee’s proportionate share of Operating Expenses until January 1, 2005, Sublessee shall nevertheless be required to pay for any overtime charges, including, without limitation, electricity and HVAC, or any additional services used by it, as of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or. (Bc) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of SubtenantOther than Sublessee’s obligation to pay Sublessee’s share of Operating Expenses, which obligation shall commence as of January 1, 2005, all other Rent shall be paid to Sublessor in advance, on the first day of each and every month throughout the Term, commencing on the Commencement Date. If the Term shall commence or end on a day other than the first day of a month, then the monthly installments of Base Rent for the Expansion Space)first and last partial month shall be prorated on a per diem basis. Upon the execution of this Sublease, Sublessee shall pay one monthly installment of Base Rent on account of the first full calendar month of the Term and a prorated monthly installment of Base Rent for any partial month of the Term that may precede such full calendar month, with the first such monthly payment of Rent being due and payable upon the execution and delivery hereof by Sublessee to Sublessor. If Sublessee fails to pay any installment of Rent within ten (10) days after same is due, such unpaid amount shall incur a five (5%) late charge, which amount shall be immediately due and payable to Sublessor. Any such additional Security Deposit will be subject to reduction to an amount sums not paid as required hereunder shall bear interest from the due date until paid in full at a rate equal to the lesser of (a) the highest rate announced from time to time as the prime interest rate by The Wall Street Journal plus three (3) percentage points; or (b) the maximum legal rate allowed by law. If Sublessee makes two (2) months’ Base consecutive payments of Rent which are returned to Sublessor by Sublessee’s financial institution for the Expansion Spaceinsufficient funds, asSublessor may require, when and if the initial Security Deposit by giving written notice to Sublessee, that all future payments of Rent shall be made in immediately available funds by cashier’s check or by wire transfer. The foregoing is reduced pursuant in addition to Section 5(b) aboveany other remedies of Sublessor hereunder, at law or in equity.

Appears in 1 contract

Samples: Sublease (Encore Capital Group Inc)

Rent. the Premises as outlined above, Owner, or Community Manager on Owner’s behalf, shall perform a final move-out inspection on or promptly after the date Tenant vacates the Premises and Tenant shall accept Owner’s assessment of property damages on the Move-In/Move-Out Inspection Form (Schedule 5) as stated in the final move-out inspection form. Within twenty-one (21) business days following the date on which Tenant has vacated the Premises or such shorter period as may be provided in the Community Specific Addendum, Owner shall provide Tenant with an itemized list of actual costs, for which Tenant shall be responsible, to repair identified deficiencies not otherwise remedied by Tenant pursuant to Section 7.D. prior to move-out or approved by Owner to remain in place pursuant to Section 7.E. No later than the last day of Tenant’s occupancy, Tenant shall: (i) The Base Rent rate(s) per rentable square foot for give Owner all keys and copies of all keys or entry devices to the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. including common areas; (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms vacate and conditions set forth in Section 4 surrender Premises to Owner, empty of this Sublease, provided that Subtenantall persons’ and Tenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. personal property; (iii) The Security Deposit will be increased by an amount equal to:vacate any/all parking and/or storage space; (iv) clean and deliver the Premises to Owner in the same condition as referenced in Section 3.A, excepting ordinary wear and tear; (v) remove all debris; and (vi) give written notice to Owner of Xxxxxx’s forwarding address. (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fractionA. Unless otherwise specified on Schedule 1, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight rent (48) (the FractionRent”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will , shall be subject to reduction to an amount equal to the Basic Allowance for Housing (“BAH”) at the applicable BAH rate for the service member Tenant’s duty station and military grade, being more particularly set forth in Box 6 and Box 7 of Schedule 1, [which shall include any Owner provided utilities] OR [minus the utility allowance for the Premises, as defined in the utility allowance addendum] [, and minus Rent concessions identified in Box 8 on Schedule 1, if applicable]. If Tenant’s duty station is not at the Installation where the Premises are located, BAH shall be determined in accordance with Service policy applicable to such Tenant. Rent shall be payable in arrears (i.e., each Rent payment pays Rent for the previous month) in monthly installments. Rent is due on the calendar day identified in Box 7 on Schedule 1. If Xxxxxx’s BAH rate changes at any time during the term of this Lease, Tenant must notify Owner within thirty (30) calendar days of the change. Notwithstanding the foregoing, upon an increase in Tenant’s BAH, Rent shall increase automatically to the new BAH rate, whether or not Tenant provides notice to Owner of such increase and Tenant waives any notice from Owner of an automatic rent increase. If this Lease begins after the first day of the month, Tenant shall pay the prorated amount based upon 1/30th of the monthly Rent. Tenant shall pay the partial month Rent shown in Box 16 on Schedule 1 on the Payment Date in the following month. (1) If the Premises is occupied by two or more married Tenants, both of whom are active duty service members, the Rent will be the equivalent BAH rate for the highest ranking Tenant, at the With Dependents rate, for the Installation, as set out in Box 7 on Schedule 1 [minus the Utility Allowance for the Premises (if applicable)]. (2) months’ Base If the Tenant has been designated as a key and essential employee by the Installation, and is single or not accompanied by family members, the Rent will be equal to the Tenant’s housing allowance at the “Without Dependent rate,” [minus the Utility Allowance for the Expansion SpacePremises (if applicable)]. (3) If Owner elects to provide Tenant a home in a housing category higher than Tenant’s military pay grade, asthen the Rent will be based on the applicable BAH rate for the Tenant’s military pay grade. If Tenant elects to reside in a home that is in a housing category higher or lower than Tenant’s military pay grade, when then the parties shall execute an addendum that states the basis and amount of the Rent. B. Unless otherwise provided for in the Community Specific Addendum, Rent shall be paid through (i) Unit Diary Entry Electronic Funds Transfer (UDEFT) (Marine Corps), (ii) Military Assistance Company (MAC) [XXXX] (Navy/Air Force/Army), or (iii) PeopleSoft (Coast Guard), if applicable (each, as applicable, a “Rent Payment Service Option”). If a Rent Payment Service Option is not applicable, Rent may be paid to Owner or its designated agent by payroll allotment/deduction (the initial Security Deposit “Allotment”). Rent and all other charges owed by Xxxxxx and not paid by a Rent Payment Service Option or Allotment will be payable by another means reasonably directed by Owner, which at Owner’s option may include personal check, certified check, money order, automated clearing house or through other payment methods (e.g. online/website, smart device application), which alternate means may be changed from time to time with 30 days written notice to Tenant and each of which may be subject to applicable service charges. Owner will apply payments to any previously owed Rental amounts prior to current Rents or as otherwise required by applicable law. C. After the Premises is reduced pursuant vacated, any refund due to Section 5(b) above.Tenant will be made within thirty

Appears in 1 contract

Samples: Military Member Tenant Lease Agreement

Rent. (a) Commencing on January 1, 2018, Sublessee shall pay to Sublessor the following amounts as base rent (the “Base Rent”) during the Term of this Sublease: Dates Annual Base Rent Per Annum Monthly Base Rent Rent Per Square Foot (b) Notwithstanding the foregoing, Sublessee shall make the first payment of Base Rent, together with the security deposit described below, at the time of Sublessee’s execution and delivery of this Sublease to Sublessor. The Base Rent is intended to be absolutely net of any and all other costs and expenses that may be or become due and payable by Sublessor under the Prime Lease (except as otherwise expressly provided in paragraph (c) below), including without limitation Sublessor’s share of Operating Expenses, the Property Management Fee and Personal Property Taxes payable by Sublessor to Prime Lessor under the Prime Lease, all of which shall be paid by Sublessee as additional rent in addition to the Base Rent set forth above. Base Rent and additional rent shall sometimes be referred to as “Rent” in this Sublease. All Rent shall be due and payable in monthly installments in advance on the first day of each calendar month, without demand, deduction, counterclaim or setoff, except as expressly otherwise provided in this Sublease. Rent for any partial month shall be prorated and paid on the first day of any partial month. Sublessee shall pay as additional rent for all other expenses for which Sublessor is or would be responsible under the Prime Lease. (c) As additional rent, Sublessee shall pay all amounts for which Sublessor is required to pay to Prime Lessor under the Prime Lease in connection with the Sublease Premises (other than the Base Rent due under the Prime Lease and any Additional Rent payable by Sublessor to Prime Lessor pursuant to Section 29.4(f) of the Prime Lease), including without limitation Sublessor’s share (as determined under the Prime Lease) of Operating Expenses, the Property Management Fee and Personal Property Taxes. In addition to the Base Rent and additional rent, Sublessee agrees to pay to Sublessor all Sublessee Surcharges (as hereinafter defined) as further additional rent hereunder as hereinafter provided. As used herein, the term “Sublessee Surcharges” shall mean any and all amounts which become due and payable by Sublessor to the Prime Lessor under the Prime Lease, and which would not have become due and payable but for the acts and/or failures to act of Sublessee under this Sublease or which are otherwise attributable to the Sublease Premises, including, but not limited to: (i) The Base Rent rate(s) per rentable square foot for any increases in the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commencesPrime Lessor’s fire, rent or other insurance premiums resulting from any act or omission of Sublessee, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant any additional rent or charges under the Prime Lease payable by Sublessor on account of any other additional service as may be provided for or on behalf of Sublessee under the Prime Lease, or with the consent of the Prime Lessor, and (iii) the reasonable charges for any services that may be provided for Sublessee or the Sublease Premises hereunder where a separate charge is provided for. Sublessee shall pay Operating Costs for any Sublessee Surcharge within thirty (30) days after the Expansion Space on presentation of a statement therefor by the same terms and conditions set forth in Section 4 of this SubleaseSublessor to Sublessee, provided that Subtenant’s Percentage Share all payments of additional rent shall in any event be increased appropriately made to account for the addition of the Expansion Space. Sublessor (iiior, if Sublessor directs in writing, to Prime Lessor) The Security Deposit will be increased by an amount equal to: no later than five (A5) if Subtenant delivers its Exercise Notice business days prior to the first (1st) anniversary of date on which the Commencement Date, six (6) months’ Base Rent initially payable for same will become due under the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovePrime Lease.

Appears in 1 contract

Samples: Sublease (Momenta Pharmaceuticals Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot Trustee is not obligated to pay any rent under this Site Lease. The consideration to the Site Lessor for the Expansion Space right to use the Leased Property during the Site Lease Term is the deposit of proceeds of the Series 2017J Certificates into the Project Account held by the Trustee under the Indenture to finance the Project of the Site Lessor or a charter school for which the Site Lessor is the Chartering Authority. The provisions of Article IV of this Site Lease are intended to assure that the State or another lessee, sublessee or assignee pays Additional Rent in accordance with the 2017J Lease or an amount equal to the Additional Rent that would have been paid under the 2017J Lease under another instrument executed and delivered pursuant to Article IV of this Site Lease. TITLE TO LEASED PROPERTY; ENCUMBRANCES, EASEMENTS, MODIFICATIONS, SUBSTITUTION, DAMAGE, PERSONAL PROPERTY Title to Leased Property. Title to the Leased Property shall be held in the same name of the Site Lessor, subject to this Site Lease, the 2017J Lease and the Sublease of the Site Lessor or a charter school for which the Site Lessor is the Chartering Authority. Limitations on Disposition of and Encumbrances on Leased Property. Except as otherwise permitted in this Article or Article VII or VIII hereof and except for Permitted Encumbrances, the Base Rent rate(s) per rentable square foot for Site Lessor shall not sell, assign, transfer or convey any portion of or any interest in the initial Subleased Premises Leased Property or directly or indirectly create, incur or assume any mortgage, pledge, lien, charge, encumbrance or claim on or with respect to the date Leased Property. Granting of Easements. The Site Lessor shall, at the term for request of the Expansion Space commencesTrustee or the State consent to grants of easements, licenses, rights‑of‑way and shall increase at such times and other rights or privileges in such amount as Base Rent for the initial Subleased Premises, it being nature of easements with respect to the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space Leased Property on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term same manner as of the date Subtenant delivers its Exercise Notice and the denominator of which Trustee is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior required to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced do so pursuant to Section 5(b) above7.03 of the 2017J Lease.

Appears in 1 contract

Samples: Sublease Agreement

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same a. Except as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and otherwise expressly provided in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary commencing on and as of the Commencement Date, six and continuing throughout the term of this Sublease, Subtenant shall pay to Tenant, as rent, base rent (6the “Base Rent”) months’ in accordance with the schedule set forth below as part of this subsection. Unless Tenant instructs Subtenant otherwise in writing, Subtenant shall make such payments in advance on the day of each month on which rent is required to be paid by Tenant under the Main Lease. Subtenant shall make such payments without notice, demand, abatement, deduction, counterclaim, or setoff. Commencement Date the day before the Rent Commencement Date $ 0.00 $ 0.00 $ 0.00 Rent Commencement Date - March 31,2009 $ 29.00 * $ 438,364.00 * $ 36,530.33 * April 1 ,2009 - March 31, 2011 $ 31.50 $ 476,154.00 $ 39,679.50 April 1 ,2011 - February 27, 2013 $ 32.50 $ 491,270.00 $ 40,939.17 b. Except as otherwise expressly provided in this Sublease, commencing on and as of the Rent Commencement Date, and continuing throughout the term of this Sublease, Subtenant shall pay to Tenant, as additional rent, Subtenant’s Share and Subtenant’s Electric Share (both defined below) of all operating expenses, real estate taxes, rent taxes, utility charges, lease auditing expenses and fees payable in connection with Tenant’s auditing of any of the foregoing sums, and other regular additional sums payable by Tenant to Landlord under the Main Lease (the “Escalations”), with Subtenant’s Share and Subtenant’s Electric Share of such Escalations being collectively referred to herein as the “Subescalations”. For the purposes of this Sublease, the term “Subtenant’s Share” for all Subescalations (except electric service to the Premises) shall be defined as a ratio, the numerator being the rentable square footage of the Premises and the denominator being the rentable square footage of Tenant’s Premises. As of the date hereof, Subtenant’s Share is four and 27/100 percent (4.27%). For the purposes of this Sublease, the term “Subtenant’s Electric Share” shall be defined as a ratio, the numerator being the rentable square footage of the Premises and the denominator being the rentable square footage of the twelfth (12th) floor of the Tenant’s Premises. As of the date hereof, Subtenant’s Electric Share is sixty eight and 44/100 percent (68.44%). The parties hereto acknowledge that the Subtenant’s Share and Subtenant’s Electric Share may change from time to time during the term of this Sublease based upon any change in the rentable square footage of the Premises and/or Tenant’s Premises. Prior to the Commencement Date and from time to time during the Sublease term thereafter, Tenant shall provide Subtenant with an estimate of the monthly Subescalations due from Subtenant. Subtenant shall pay to Tenant Subescalations with Subtenant’s payments of Base Rent initially payable (except during the Free Rent Period (hereinafter defined), during which time such Subescalations shall be credited against the Maximum Free Rent Amount (hereinafter defined)). Subtenant shall make all such payments without abatement, deduction, counterclaim, or setoff. As soon as is practicable after the end of each calendar year Tenant shall submit to Subtenant a statement of the actual Subescalations for such calendar year, as well as a statement to show any * subject to Free Rent as set forth in Section 5.i. below. increase in Subescalations for such calendar year as compared with Tenant’s estimate of such Subescalations. If Tenant’s statement discloses that Subtenant owes an amount that is less than the Expansion Space; estimated payments for such calendar year previously paid by Subtenant, Tenant will credit such excess against the next installment of Rent due (or , if after the expiration or earlier termination of this Sublease, and provided there then exists no uncured event of default, Tenant shall reimburse Subtenant for such amount). If Tenant’s statement discloses that Subtenant owes more than the estimated payments for such calendar year previously made by Subtenant, Subtenant will pay the deficiency to Tenant within ten (B10) days after delivery of the statement. The provisions of this Section 5.b. shall survive the termination of this Sublease. To the extent any Subescalations are not included in such estimate provided by Tenant, Subtenant shall make such payments within ten (10) days of receipt of an invoice therefor from Tenant, and without abatement, deduction, counterclaim, or setoff. In the event Landlord or Tenant desires to install a check meter for Subtenant’s electrical usage, Tenant agrees that any costs incurred with respect to such installation shall not be passed to Subtenant. To the extent Subtenant requires services in excess of the services provided by Landlord and charged to Tenant as operating expenses under Section 2.04 of the Main Lease, including without limitation extra electrical feeders or risers to meet Subtenant’s electricity requirements, excess water usage (including without limitation condenser water if provided by Landlord), and after-hours HVAC service, Subtenant delivers its Exercise Notice following shall contract directly with Landlord for such services. Notwithstanding the first (1st) anniversary forgoing, commencing on and as of the Commencement Date, and continuing throughout the term of this Sublease, to the extent Tenant becomes liable to Landlord for such additional services provided by Landlord or any third parties, Subtenant shall pay to Tenant, as additional rent and upon demand, one hundred percent (x100%) six months Base Rent payable of all such expenses incurred by Tenant for the Expansion Space multiplied such services and/or any service provided by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior Tenant to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement (NewStar Financial, Inc.)

Rent. (ia) The Base Rent rate(s) per rentable square foot Tenant covenants to pay to Landlord, as rent for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises commencing on the date Commencement Date and thereafter during the term for Term, the Expansion Space commencesamounts set forth on or determined pursuant to Exhibit 5 hereto, (herein called the “Basic Rent”) in monthly installments in advance, beginning on the Commencement Date and on the first day of each calendar month thereafter during the Term (herein called the “Basic Rent Payment Dates”), by wire or other electronic transfer of immediately available funds to the Landlord at the address set forth above and/or to such other person or such other place or account as Landlord from time to time may designate to Tenant in writing, including, without limitation, Landlord may designate to Tenant in writing that all or a portion of the monthly Basic Rent be paid directly to a Mortgagee or an institutional payment agent. If Tenant shall increase fail to vacate and surrender the Premises in accordance with the terms of this Lease upon the expiration or earlier termination of this Lease, then until such time as Tenant so vacates and surrenders the Premises, Tenant shall pay Basic Rent at such times and in such amount as Base a rate of one hundred fifty percent (150%) of the Basic Rent for the initial Subleased Premiseslast year of the Term. Nothing in the previous sentence shall be construed or operate as a waiver of Landlord’s right of re-entry or any other right of Landlord resulting from such holding over. Subject to the second sentence of subparagraph 7(a), it being Tenant shall pay when due all taxes payable on Basic Rent and Additional Rent (as defined below), whether imposed on Landlord or Tenant, including without limitation, all gross rent taxes and sales taxes on such Basic Rent and Additional Rent, but calculated as if the intent Basic Rent and the Additional Rent were the sole income of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesLandlord. (iib) Subtenant Tenant covenants that all other amounts, liabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease together with every fine, penalty, interest and cost which may be added for nonpayment or late payment thereof or of Basic Rent, shall constitute additional rent hereunder (herein called “Additional Rent”). In the event of any failure by Tenant to pay Operating Costs for or discharge any Additional Rent, Landlord shall have all rights, powers and remedies provided herein or by law in the Expansion Space case of nonpayment of Basic Rent. Tenant also covenants to pay to Landlord on demand an amount (the same terms “Late Charge”) equal to two percent (2%) of the payment amount then due on all installments of Basic Rent which are more than ten (10) days overdue, to cover Landlord’s administrative expenses. The actual amount of Landlord’s administrative expenses arising by reason of a late payment will be difficult to ascertain, and conditions set forth in Section 4 the parties agree that the Late Charge as calculated above is a reasonable estimate thereof. In addition, Tenant further covenants to pay to Landlord on demand interest at the per annum rate of this Subleaseinterest equal to the greater of (a) two percent (2%) plus the “prime rate” as reported by the Wall Street Journal or (b) the interest rate applicable to late payments of interest or principal due with respect to any debt secured by a first Mortgage (such greater rate being referred to as the “Default Rate”), provided that Subtenant’s Percentage Share the Default Rate shall be increased appropriately not exceed the maximum rate permitted by applicable law, on all Basic Rent and Additional Rent due to account for Landlord from the addition date due until such amount is paid in full. If the Wall Street Journal is no longer published or the Wall Street Journal discontinues publication of the Expansion Space“prime rate,” then Landlord shall substitute a comparable prime rate. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Lease (Calamos Asset Management, Inc. /DE/)

Rent. a. Subtenant covenants and agrees to pay to Sublandlord the fixed rent as set forth under Section 5 of the Seventh Amendment (i) The the “Base Rent rate(s) per rentable square foot for Rent”), at the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions notice address set forth in Section 4 of this Sublease9 below, provided that Subtenant’s Percentage Share shall or at such other place as may be increased appropriately designated by Sublandlord from time to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Datetime, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Datewithout any demand, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fractionnotice, the numerator of which is the number of complete set-off, abatement or partial calendar months remaining in the Term deduction, commencing as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) October 1, 2017 (the “FractionRent Commencement Date”). Subtenant will deliver such increased portion , and continuing thereafter throughout the Term, as follows: b. The first monthly installment of Base Rent under this Sublease is due and payable upon the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Rent Commencement Date and Base Rent for each ensuing month during the Expansion SpaceSublease Term being due and payable to Sublandlord not later than the 25th day of the preceding calendar month. If the Commencement Date is other than the first day of a month or the Expiration Date is other than the last day of a month, the Base Rent for each such month shall be prorated. c. Commencing on the Rent Commencement Date and in each calendar year during the Term, Subtenant shall pay to Sublandlord, as Additional Rent, “Subtenant’s Share” of the Recognized Expenses, to the extent Recognized Expenses for such calendar year exceed the Recognized Expenses in the “Sublease Base Year” based upon the Prime Landlord’s estimates for same as set forth in more detail in Article 6 of the Sixth Amendment (as amended by Section 5(a) of the Seventh Amendment); provided, however, for purposes of calculating the amounts due pursuant to this Section 4.c., (i) “Subtenant’s Share” shall mean 19.29%, which is 29,778/154,392, which share may increase or decrease as the Premises size increases or decreases and (ii) “Sublease Base Year” shall mean calendar year 2017. Any such additional Security Deposit will be subject If the Recognized Expenses for any calendar year occurring after the Sublease Base Year shall exceed the Recognized Expenses during the Sublease Base Year, then Subtenant shall pay to reduction to Sublandlord, as Additional Rent, within ten (10) days after receipt of Sublandlord’s invoice therefor, an amount equal to two (2) months’ Subtenant’s Share of the excess of the Recognized Expenses for such calendar year over the Sublease Base Rent for Year, in the Expansion Spacesame manner as set forth in Article 6 of the Sixth Amendment, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveas amended.

Appears in 1 contract

Samples: Sublease (Inovio Pharmaceuticals, Inc.)

Rent. During the term of this Sublease, Sublessee shall pay as rent ---- (i"Rent") The Base Rent rate(s) per rentable square foot for the Expansion Space Premises an amount equal to the monthly Rent under the Master Lease, which at the commencement of this sublease is $84,999.99. The Rent shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date increase periodically during the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on pursuant to the same terms and conditions set forth by which Rent shall increase under the Master Lease. Rent shall be paid to Sublessor without demand, deduction, set-off or counterclaim, in Section 4 advance on the first day of each calendar month during the term of this Sublease, provided that Subtenant’s Percentage Share and in the event of a partial rental month, rent shall be increased appropriately to account for prorated on the addition basis of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining days in the Term month. Sublessee shall pay to Sublessor upon the execution hereof the first full monthly installment of Rent. In addition to the above Sublessee shall pay to Sublessor on a monthly basis as of Additional Rent all costs and expenses attributable to the date Subtenant delivers its Exercise Notice Premises payable under the Master Lease, as incorporated herein, including but not limited to utilities, real estate taxes, insurance and other operating expenses which Sublessor is required to pay under the denominator of which is forty-eight (48) (the “Fraction”)Master Lease. Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s In no event shall Sublessee's obligation to pay Base Additional Rent exceed the amount attributable to the Premises due and payable by Sublessor under the Master Lease. To the extent paid by Sublessee, Sublessee shall be entitled to all credits, if any, given by Master Lessor to Sublessor for Sublessor's overpayments of Additional Rent. Payment of all Rent Additional Rent and other amounts due and payable from Sublessee to Sublessor, shall paid in accordance with this Lease at the Expansion Space). Any following address, or such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for other address as the Expansion SpaceSublessor shall instruct the Sublessee in writing: Raytheon Company 0000 Xxxxxxxxx Xxxxxxxxx Xxxxx Xxxxxx, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.XX 00000-0000 ATTN: Xxxxx Xxxxxxx

Appears in 1 contract

Samples: Sublease (Concentric Network Corp)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space Tenant shall be the same as pay the Base Rent rate(s) per rentable square foot for as provided in the initial Subleased Premises on the date the term for the Expansion Space commences, Basic Lease provisions section of this Lease and shall increase at such times and in such amount as hereinafter provided. Tenant agrees to pay Base Rent for (together with additional rent and other charges hereinafter provided) to Owner or such other arty as Owner may designate, in lawful money of the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share United States which shall be increased appropriately to account for legal tender in payment of all debts and dues, public and private, at the addition time of the Expansion Space. (iii) The Security Deposit will be increased by an amount payment in equal to: (A) if Subtenant delivers its Exercise Notice prior to monthly installments in advance on the first (1st) anniversary day of each month during the Term at the office of owner or such other place as Owner may designate, without any set-off or deduction whatsoever except that Tenant shall pay the Payment Due from Tenant on Lease Execution as set forth in the Basic Lease Provisions Section of this Lease upon the execution and delivery hereof by Tenant. If the Commencement Date does not occur on the first (I”) day of a calendar month, Tenant shall pay, within five (5) days after the Commencement Date, six (6) months’ a pro rata portion of the Base Rent initially payable attributable to the period from and including the Commencement Date through and including the last day of the calendar month in which the Commencement Date occurs. Occupancy: 2. Tenant shall use and occupy the demised premises only for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following Permitted Use as set forth in the first (1st) anniversary Basic Lease Provisions Section of this lease and for no other purpose. Tenant Alterations: 3. Tenant shall, make no changes in or to the demised premises of any nature without Owner’s prior written consent. Subject to the prior written consent of Owner, and to the provisions of this article, Tenant at Tenant’s expense, may make alterations, installations, additions or improvements which are non-structural and which do not affect utility services or plumbing and electrical lines, in or to the interior of the Commencement Datedemised premises, by using contractors or mechanics first approved in each instance by Owner. Tenant shall, before making any alterations, additions, installations or improvements, at its expense, obtain all permits, approvals and certificates required by any governmental or quasi-governmental bodies and (xupon completion) six months Base Rent payable certificates of final approval thereof, and shall deliver promptly duplicates of all such permits, approvals and certificates to Owner, and Tenant agrees to carry, and will cause Tenant’s contractors and sub-contractors to carry, such worker’s compensation, general liability, personal and property damage insurance as Owner may require. If any mechanic’s lien is filed against the demised premises, or the building of which the same forms a part, for the Expansion Space multiplied by (y) a fractionwork claimed to have been done for, or materials furnished to, Tenant, whether or not done pursuant to this article, the numerator same shall be discharged by Tenant within 30 days thereafter, at Tenant’s expense, by payment or filing a bond as permitted by law. All fixtures and paneling, partitions, railings and like installations, installed in the demised premises at any time, either by Tenant or by Owner on Tenant’s behalf, shall, upon installation, become the property of Owner and shall remain upon and be surrendered with the demised premises unless Owner, by notice to Tenant no later than twenty days prior to the date fixed as the termination of this lease, elects to relinquish Owner’s right thereto and to have them removed by Tenant, in which is event the number same shall be removed from the demised premises by Tenant prior to the expiration of complete the lease, at Tenant’s expense. ‘Nothing in this article shall be construed to give Owner title to, or partial calendar months to prevent Tenant’s removal of, trade fixtures, moveable office furniture and equipment, but upon removal of same from the demised premises or upon removal, of other installations as may be required by Owner, Tenant shall immediately, and at its expense, repair and restore the demised premises to the condition existing prior to any such installations, and repair any damage to the demised premises or the building due to such removal. All property permitted or required to be removed by Tenant at the end of the term remaining in the Term demised premises after Tenant’s removal shall be deemed abandoned and may, at the election of Owner, either be retained as of Owner’s property or may be removed from the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenantdemised premises by Owner, at Tenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveexpense.

Appears in 1 contract

Samples: Lease Agreement (Thorne Healthtech, Inc.)

Rent. (i) The Base Rent rate(s) per rentable square foot for On the Expansion Space date that Tenant executes this Lease, Tenant shall be deliver to Landlord the same as original executed Lease, the Base Rent rate(s) per rentable square foot (which shall be applied against the Rent payable for the initial Subleased Premises on first month Tenant is required to pay Base Rent), the date the term for the Expansion Space commencesAdditional Security Deposit as described in Section 4, and shall increase at such times and in such amount as Base Rent for all insurance certificates evidencing the initial Subleased Premisesinsurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord, it being the intent of Sublandlord and Subtenant that without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent rate(s) per rentable square foot for described in the Expansion Space shall always be Basic Lease Information, payable in advance at Landlord's address specified in the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space Basic Lease Information on the same terms Commencement Date and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to thereafter on the first (1st) anniversary day of each month throughout the balance of the Commencement Date, six (6) months’ Term of the Lease. In addition to the Base Rent initially payable for set forth in the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following Basic Lease Information, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) anniversary day of each month throughout the balance of the Commencement DateTerm of this Lease, as Additional Rent, Tenant's Share of Operating Expenses. Tax Expenses, Common Area Utility Costs, and Utility Expenses, as well as the Administrative Expenses, Tenant shall also pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (x) six months collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent payable and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete commencement or partial calendar months remaining in the Term as termination of the date Subtenant delivers its Exercise Notice Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Commencement Date and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion first day of the Security Deposit prior to Subtenant’s occupancy calendar month in which the date of termination occurs, as the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovecase may be.

Appears in 1 contract

Samples: Lease Agreement (Interlink Electronics)

Rent. (ia) The Base Rent rate(s) per rentable square foot Tenant shall pay to Landlord, at Landlord’s address for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase notice hereinafter set forth or at such times other place as Landlord may specify, without any right of set-off or deduction and in such amount without any prior notice of demand, the Basic Rent as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 Exhibit “A” in equal monthly installments for each month during the term of this Sublease, provided that Subtenant’s Percentage Share Lease. Basic Rent shall be increased appropriately to account for due and payable monthly in advance, beginning on the addition Commencement Date and continuing on the first day of each month thereafter throughout the Lease Term. If the Commencement Date is other than the first day of a month, the amount of Basic Rent payable on the Commencement Date shall be one-thirtieth (1/30) of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice monthly Basic Rent for each day prior to the first (1st) anniversary day of the Commencement Datenext month and, six (6) months’ Base Rent initially payable for if the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following term of this Lease terminates other than on the first (1st) anniversary last day of a month, the amount of the Commencement Date, final installment of Basic Rent shall be one-thirtieth (x1/30) six months Base of the monthly Basic Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months each day then remaining in the Term Lease term. (b) As a further inducement for Landlord to enter into this Lease, Tenant shall also pay to Landlord, as Additional Rent, reimbursement for property taxes for the Premises and for insurance carried by the Landlord for the Premises. The Xxxxxxx may elect to purchase insurance on the Premises in lieu of reimbursing the Landlord for insurance purchased by the Landlord. If the Tenant elects to purchase the insurance directly, it shall obtain the Landlord’s consent as to the amount and nature of the date Subtenant delivers its Exercise Notice and insurance. The Tenant shall name the denominator Landlord as an additional insured. (c) It is acknowledged by the parties hereto that the late payment by Tenant to Landlord of Basic Rent, Additional Rent, or any other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease the exact amount of which is forty-eight (48) (would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing, clerical and accounting charges, lost interest, and late charges which may be imposed by Landlord by the “Fraction”)terms of any mortgage encumbering Premises. Subtenant will deliver such increased portion of Therefore, in the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation event Tenant should fail to pay Base Rent for any installment of Basic Rent, Additional Rent, or any sum due hereunder punctually on the Expansion Space). Any such due date thereof, Tenant shall pay to Landlord as an additional Security Deposit will be subject to reduction to an amount monthly charge a late fee each month equal to two five percent (25%) months’ Base Rent of each such installment of Basic Rent, Additional Rent, or other sum, or twenty-five dollars ($25.00) whichever is greater. The late fee shall be due for each month that a monthly rent payment remains unpaid. In addition, Tenant shall pay to Landlord thirty dollars ($30.00) for each check presented to Landlord in payment of any obligations hereunder which are not paid by the Expansion Space, as, when and if the initial Security Deposit bank upon which such check is reduced pursuant to Section 5(b) abovedrawn.

Appears in 1 contract

Samples: Lease (Knology Inc)

Rent. (ia) The Base Rent rate(sTenant will pay the annual base rent as shown in Exhibit "D" (which in turn is subject to Rider #2) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises in equal monthly installments in advance beginning on the date Rent Commencement Date and thereafter on the first day of each month during the term, prorated for any portion of a month. The term for "rent" includes base rent, additional rent and all other amounts to be paid by Tenant under this Lease, whether or not specifically described as rent. Subject to Subsection (b) below, all rent due under this Lease will be paid without demand, deduction, counterclaim or offset of any type in lawful U.S. legal tender at 0000 Xxxxxxxxx Xxxxxx, Xxxxx 0000, Xx Xxxxxxx, XX 00000-0000, Attn: Accounting Dept., or to such other person or place as Landlord may from time to time designate by written notice pursuant to this Lease. Tenant will pay the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, first month's base rent when it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premisesexecutes this Lease. (iib) Subtenant shall pay Operating Costs If and for so long as there is a mortgage loan encumbering the Expansion Space on Premises or a loan that is secured by the same terms Letter of Credit, at the written request of Landlord or Tenant, Landlord and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to Tenant will establish a collection account for the addition receipt and disbursement of base rent. In such event, Tenant will pay the base rent as and when required each month into this collection account, and the collection agent promptly will disburse from such amount an amount sufficient to pay debt service and any other amounts owed to the mortgage lender and/or the lender of the Expansion Space. (iii) loan secured by the letter of credit, with the balance being disbursed to Landlord. The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice collection agent and the denominator terms of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit this collection account will be subject to reduction the mutual written approval of Landlord and Tenant, which approval will be based on customary terms for such agreement and will not be unreasonably withheld or delayed. The parties agree to an amount equal the Bank of America or the Bank of Boston as collection agent, and to two (2) months’ Base Rent for a collection agreement in form substantially similar to the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveone attached as Exhibit "B-1."

Appears in 1 contract

Samples: Lease (Navisite Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for On the Expansion Space date that Lessee executes this Lease, Lessee shall be deliver to Lessor the same as original executed Lease, the Base Rent rate(s) per rentable square foot (which shall be applied against the Rent payable for the initial Subleased Premises on first month Lessee is required to pay Base Rent), the date Security Deposit, the term for the Expansion Space commencesCleaning Deposit, and shall increase at such times and in such amount as Base Rent for all insurance certificates evidencing the initial Subleased Premisesinsurance required to be obtained by Lessee under Paragraph 12 of this Lease. Lessee agrees to pay Lessor, it being the intent of Sublandlord and Subtenant that without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent rate(s) per rentable square foot for described on Page 1, payable in advance at Lessor's address shown on Page 1 on the Expansion Space shall always be first day of each month throughout the same as term of the Lease. In addition to the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant set forth on Page 1, Lessee shall pay Operating Costs for the Expansion Space Lessor in advance and on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary day of each month throughout the Commencement Dateterm of this Lease (including any extensions of such term), six (6) months’ Base Rent initially payable for as additional rent Lessee's share, as set forth on Page 1, of Increases in Operating Expenses, Increases in Tax Expenses, Increases in Common Area Utility Costs, administrative expenses, Trash and Water Charge and Utility Expenses, as specified in Paragraphs 6.A., 6.B., 6.C. and 7 of this Lease, respectively. Additionally, Lessee shall pay to Lessor as additional rent hereunder, immediately on Lessor's demand therefore, any and all costs and expenses incurred by Lessor to enforce the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary provisions of the Commencement Datethis Lease, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fractionincluding, the numerator but not limited to, costs associated with any proposed assignment or subletting of which is the number of complete all or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased any portion of the Security Deposit prior Premises by Lessee, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to Subtenant’s occupancy the aggregate of all these amounts. If Lessor permits Lessee to occupy the Premises without requiring Lessee to pay rental payments for a period of time, the waiver of the Expansion Space (but Subtenant’s failure requirement to timely deliver such increased portion pay rental payments shall only apply to waiver of the Security Deposit will Base Rent and Lessee shall otherwise perform all other obligations of Lessee hereunder, including, but not postpone limited to paying to Lessor any and all amounts considered additional rent, such as Lessee's share of Increases in Operating Expenses, Increases in Tax Expenses, Increases in Common Area Utility Costs, Trash and Water Charge, Utility Expenses, and administrative expenses. If, at any time, Lessee is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Lessor of Lessee's requirement to pay rental payments shall be null and void and Lessee shall immediately pay to Lessor all rental payments waived by Lessor. The Rent for any fractional part of a calendar month at the commencement or termination of Subtenant’s obligation to pay Base the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for Commencement Date and the Expansion Spacefirst day of the calendar month in which the date of termination occurs, as, when and if as the initial Security Deposit is reduced pursuant to Section 5(b) abovecase may be.

Appears in 1 contract

Samples: Lease Agreement (Bikers Dream Inc)

Rent. Tenant agrees to pay to Landlord at the office of the managing agent (ithe Manager) The of the beneficiaries of Landlord (the "Beneficiaries), or at such other place designated by Landlord, without any prior demand therefor and without any deduction whatsoever, (except as herein permitted), base rent at the initial monthly rate specified in Subsection l.01H ("Monthly Base Rent). Monthly Base Rent rate(s) per rentable square foot is subject to adjustment pursuant to Sections 4.02 and 6.03, and as adjusted is hereinafter called "Adjusted Monthly Base Rent". Unless otherwise provided to the contrary in this Lease, Adjusted Monthly Base Rent shall be paid monthly in advance on the first day of each month of the Term. Tenant shall not be obligated to pay Rent for the Expansion first 3 months and 5 days of the term hereof with the obligation to commence the payment of Rent beginning on the sixth day of the fourth month of the term. The first installment of Rent shall be paid by Tenant to Landlord on the Commencement Date. Adjusted Monthly Base Rent shall be prorated f or partial months within the Term. All charges, costs and sums required to be paid by Tenant to Landlord under this Lease in addition to Adjusted Monthly Base Rent shall be deemed additional rent, and Adjusted Monthly Base Rent and additional rent shall hereinafter be collectively called "Rent." Tenant's covenant to pay Rent shall be independent of every other covenant in this Lease. Tenant shall pay a late charge for delinquent Rent in accordance with the provisions of Section 26.01. In addition to the Premises demised hereunder, during the term hereof and any option term, Landlord hereby leases to Tenant and Tenant hereby accepts from Landlord space in the basement of the Building which: Ci) comprises 2,000 square feet; (ii) shall be used solely for purposes of storage in connection with Tenant's business within the Premises; and (iii) location shall be mutually agreed upon by Landlord and Tenant prior to the Commencement Date and enclosed by the Landlord, at its expense .("Original. Storage Space"). Tenant may, at its sole option, to be exercised by the 'delivery of a written notice to the Landlord at least 180 days prior to the expiration of the third year of the Term of this Lease, rent an additional 3,000 square feet in the basement for purposes of storage to be designated by Landlord at the time of the exercise of the option with the understanding that such space (the "Option Storage Space") need not be contiguous to the Original Storage Space. The Landlord will enclose the Original Storage Space and Option Storage Space, at its expense, and construct such demising walls and doors necessary in order for Tenant to secure its personal property therein. The annual rent for the Original Storage Space shall be $12,000.00 for the same term and option terms, if any, payable in equal monthly installments at the time Monthly Base Rent is due under the terms of this Lease. The annual rent for the Option Storage Space for the term and option terms, if any, shall be a "Market Rent" which is defined herein as the Base Rent rate(s) bona fide annual rent per rentable square foot of net rentable area being offered by Landlord to prospective tenants for space in the basement for a lease term commencing on or after the date rent is to begin for the initial Subleased Premises on the date the term for the Expansion Option Storage Space commences, and shall increase at such times and in such amount as Base ("Option Rent"). The annual Option Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for paid in equal monthly installments payable at the addition time of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ and with Monthly Base Rent initially Rent. In no event shall rent payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary Original Storage Space and Option Storage Space have an effect on or be adjusted by Section 4.02 of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovethis Lease.

Appears in 1 contract

Samples: Office Lease (Ismie Holdings Inc)

Rent. (i) The Base 4.1 From and after the Rent rate(s) per rentable square foot for the Expansion Space Commencement Date, Tenant shall be the same as pay the Base Rent rate(sin twelve (12) per rentable square foot for the initial Subleased Premises equal monthly installments in advance on the date the term for the Expansion Space commencesfirst day of each month, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premiseswithout any offset, it being the intent abatement, defense, claim, counterclaim or deduction whatsoever. Simultaneously with Tenant’s execution of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant this Lease, Tenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: to One Hundred Thousand and 00/100 Dollars (A) if Subtenant delivers its Exercise Notice prior to $100,000.00), which amount shall be credited toward the first (1st) anniversary monthly installment of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base and Additional Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial first full calendar months remaining in the Term as month of the date Subtenant delivers its Exercise Notice and Term. If the denominator Rent Commencement Date is not the first day of which is forty-eight (48) (a calendar month, then the “Fraction”). Subtenant will deliver such increased portion Base Rent from the Rent Commencement Date until the first day of the Security Deposit prior to Subtenant’s occupancy following calendar month shall be prorated on a per diem basis at the rate of one-thirtieth (1/30th) of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion monthly installment of the Security Deposit will Base Rent payable during the first Lease Year, and Tenant shall pay such prorated installment of the Base Rent on or before the Rent Commencement Date. If the Expiration Date of this Lease is not postpone the commencement last day of Subtenanta calendar month (other than by reason of Tenant’s obligation to pay default), then Base Rent for such month shall be prorated on a per diem basis at the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two rate of one-thirtieth (21/30th) months’ of the monthly installment of the Base Rent payable during the Lease Year in which the Lease terminates. (a) Any item of rent, or other fee or charge owed by Tenant to Landlord hereunder, other than Base Rent, and any cost, expense, damage or liability incurred by Landlord for the Expansion Spacewhich Tenant is liable hereunder, as, when and if the initial Security Deposit is reduced shall be considered “Additional Rent” payable pursuant to Section 5(bthis Lease, without any offset, abatement, defense, claim, counterclaim or deduction whatsoever and shall, unless a different time period is specifically provided herein, be paid by Tenant within ten (10) abovedays after an invoice therefor is given to Tenant. As used herein, the term “Rent” shall mean, collectively, all Base Rent and Additional Rent.

Appears in 1 contract

Samples: Lease Agreement (Jackson Hewitt Tax Service Inc)

Rent. (ia) The Tenant shall pay as "Base Rent" for each Lease Year during the Initial Term the sum of Two Hundred Fifty-Two Thousand and No/100 Dollars ($254,400), payable in advance, in equal monthly installments of Twenty-One Thousand and No/100 Dollars ($21,200). If Tenant exercises its option(s) to extend the Term, Tenant shall pay as Base Rent rate(sduring the Renewal Term(s) per rentable square foot a rental based upon the "market rate" for the Expansion Space Premises. The first and last monthly installments are due and payable on the execution of this Lease and the remaining installments are due and payable in advance on the first day of each and every month during the Term, without offset or deduction, to Landlord at the address set forth in Paragraph 26 or at such other place as Landlord may hereafter designate in writing. Rent checks are to be made payable to Landlord, or such other person, firm or corporation as Landlord may designate in writing. (b) All sums due and payable by Tenant under this Lease other than Base Rent are "Additional Rent", whether or not so called in the text of this Lease. Any Additional Rent for which no time for payment is specified in this Lease shall be due and payable within ten (10) days after demand is made therefor. (c) All Rent, whether Base Rent or Additional Rent, is due and payable in full without demand, deduction or set-off and Tenant's obligation to pay the same shall survive the expiration or other termination of this Lease. Tenant's covenant to pay Rent is an independent covenant. (d) Rent shall be equitably prorated for any partial Lease Year or calendar year, as the case may be, during the Term. (e) For each Renewal Term, Tenant shall notify Landlord that Tenant desires to exercise its option to extend the Term of this Lease for the next ensuing five (5) year period, and to obtain an appraisal of the Premises to determine the market rent for the Premises by delivering written notice to Landlord not less than one hundred eighty (180) days prior to the beginning of each Renewal Term. Tenant shall include in such notice the name of an MAI appraiser selected by Tenant which has an office in Macomb County, Michigan. Landlord shall within thirty (30) days following receipt of such notice from Tenant give written notice to Tenant setting forth the name of a second MAI appraiser with an office in Macomb County, Michigan. If Landlord fails to notify Tenant of the name of an appraiser within the thirty (30) day period, then the appraiser selected by Tenant shall determine the market rent and the decision of said appraiser shall be binding upon the parties hereto. If Landlord has selected an appraiser in accordance with the provisions of this Paragraph, then the appraiser selected by Landlord and the appraiser selected by Tenant shall meet and select a third MAI appraiser with an office in Macomb County, Michigan. The appraiser selected by Landlord and the appraiser selected by Tenant shall each appraise the Premises for purposes of obtaining said market rent. The third appraiser shall determine and notify Landlord and Tenant which of the two appraisals made by Landlord's and Tenant's appraisers more closely reflects the market rent of the Premises, and the decision of the third appraiser shall be binding upon the parties hereto. Notwithstanding anything in this paragraph to the contrary, in no event shall the Base Rent rate(s) per rentable square foot for any Renewal Term be less than the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition last year of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to previous Renewal Term or the first (1st) anniversary last year of the Commencement DateInitial Term, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveapplicable.

Appears in 1 contract

Samples: Lease (MPW Industrial Services Group Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises Commencing on the date Phase 1/2 Rent Commencement Date (in respect of the term for Phase 1 Premises and the Expansion Space commencesPhase 2 Premises) and the Phase 3 Rent Commencement Date (in respect of the Phase 3 Premises), and shall increase at such times and in such amount as Base Subtenant agrees to pay the Basic Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 1.10 to the Payee specified in Section 1.11, via wire transfer, in immediately available funds, using the instructions set forth on Exhibit F or to such other payee or at such address as may be designated by notice in writing form from Sublandlord to Subtenant, without prior demand therefor and without any set-off, deduction or abatement whatsoever, except as otherwise expressly permitted hereunder or under the Prime Lease. Basic Rent shall be paid in equal monthly installments in advance on the first day of each month of the Term. Basic Rent shall be pro-rated for partial months at the beginning and end of the Term. All charges, costs and sums required to be paid by Subtenant to Sublandlord under this Sublease in addition to Basic Rent shall be deemed “Additional Rent”, and Basic Rent and Additional Rent shall hereinafter collectively be referred to as “Rent”. Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. If any check tendered by Subtenant in payment of Rent, it shall be subject to collection; and, if the same is dishonored upon presentment for payment, Sublandlord, in addition to all other rights and remedies contained in this Sublease, provided may assess a dishonor charge of Fifty Dollars ($50.00); and Sublandlord shall thereafter have the right to insist that all of Subtenant’s Percentage Share further payments be made by wire transfer or certified check. If Subtenant fails to pay any Basic Rent or any Additional Rent within five (5) calendar days of the time it is due and payable, then such unpaid amounts shall bear interest from the due date thereof to the date of payment at the rate of thirteen percent (13%) per annum. Subtenant shall pay the first monthly installment of Basic Rent (which shall be increased appropriately to account for credited against the addition of Basic Rent due and payable on the Expansion Space. (iiiPhase 1/2 Rent Commencement Date) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice on or prior to the first (1st) anniversary of the Commencement Phase 1 Tender Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease (Integral Systems Inc /Md/)

Rent. (i) The During the Term, Tenant shall pay Landlord the Base Rent, in equal monthly installments, in advance, on the first day of each month during the Term, without notice, bill or demand. Notwithstanding the foregoing, provided no Event of Default has occurred and is continuing, Tenant shall not be required to pay Base Rent rate(s) per rentable square foot for from the Expansion Space shall be Commencement Date until the same as Rent Commencement Date. If the Base Rent rate(s) per rentable square foot for Commencement Date is not the initial Subleased Premises on first day of a month, the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased month in which the Rent Commencement Date occurs shall be apportioned according to the number of days in that month. Tenant shall pay all Additional Rent that is payable to Landlord within fifteen (15) days after Tenant is billed for such amount, unless a different time period is specified in this Lease. Landlord shall have the same rights and remedies with respect to non-payment of Additional Rent as Landlord has with respect to Base Rent. Rent payable to Landlord shall be paid to Landlord at Landlord’s Address in lawful money of the United States of America by good check or, at Landlord’s request, by wire transfer. All Rent shall be paid without notice, demand, deduction, abatement or setoff, except as otherwise expressly provided in this Lease. A bill for Rent payable to Landlord sent by first class mail to the address to which Notices are to be given under this Lease shall be deemed a proper demand for the payment of the amounts set forth therein, but nothing contained herein shall be deemed to require Landlord to send a Rent bill or otherwise make any demand for the payment of Rent except where such notice or demand is expressly required by the terms of this Lease. This is an absolutely net lease. Accordingly, Landlord shall receive a net return from the Premises equal to the Base Rent, without deduction for any expense or charge for the Premises (except as otherwise expressly provided in this Lease). Tenant shall pay as Additional Rent all expenses, of every kind and nature, relating to or arising from the Premises, it being including Impositions and expenses arising from the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Subleaseleasing, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition management, operation, maintenance, repair, use, or occupancy of the Expansion Space. Premises and all construction relating to the Premises, except as otherwise expressly provided in this Lease. Notwithstanding the foregoing, so long as no Event of Default has occurred, Landlord agrees to pay all of the following expenses: (iiia) The Security Deposit will any expenses expressly agreed to be increased paid by an amount equal to: Landlord in this Lease, (Ab) if Subtenant delivers its Exercise Notice debt service and other payments with respect to any Fee Mortgage, (c) expenses incurred by Landlord to monitor and administer this Lease, unless otherwise expressly provided in this Lease, (d) expenses incurred by Landlord in the ownership, leasing, management, operation, maintenance, repair, use or occupancy of the Premises with respect to periods prior to the first Commencement Date (1stsubject to adjustment of Impositions as provided in Article IV), and (e) anniversary other expenses that are personal to the Landlord, including Xxxxxxxx’s income taxes. Landlord’s delay in rendering, or failure to render, any statement or bill for Additional Rent for any period shall not waive Landlord’s right to render a statement or collect such Additional Rent for that or any subsequent period. If Landlord delivers to Tenant an incorrect statement with respect to any Rent, Landlord shall have the right to give Tenant a corrected statement for the period covered by the incorrect statement and to collect the correct amount of the Commencement DateRent. If at any time during the Term the Rent is not fully collectible by reason of any Law, six Tenant shall enter into such agreements and take such other action as Landlord reasonably requests and which is not prohibited by any Law, to permit Landlord to collect the maximum permissible Rent (6but not in excess of the Rent). If such Law terminates prior to the Expiration Date (a) months’ the Rent shall be paid in accordance with this Lease, and (b) Tenant shall pay to Landlord, if not prohibited by any Law, the Rent which would have been paid but for such Law, less the actual amount of Rent paid by Tenant to Landlord during the period of such Law. If any installment of Base Rent initially payable for the Expansion Space; or or any Additional Rent is not paid within five (B5) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as days of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight due under this Lease, Tenant shall pay Landlord, as Additional Rent, a late charge equal to five percent (485%) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior overdue amount for, among other things, defraying the expenses incident to Subtenant’s occupancy handling such delinquent payments. Such charge shall be in addition to, and not in lieu of, any other remedy Landlord may have. If any installment of Base Rent or any Additional Rent is not paid within ten (10) days of the Expansion Space date due under this Lease, Tenant shall pay Landlord, as Additional Rent, in addition to the above-described late charge, interest on the overdue amount at the Interest Rate. Such overdue Rent shall bear interest from the date first due (but Subtenant’s failure without regard to timely deliver any grace period) until the date such increased portion of the Security Deposit will Rent is paid. Such interest shall be in addition to, and not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Spacein lieu of, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveany other remedy Landlord may have.

Appears in 1 contract

Samples: Ground Lease

Rent. (i) The Base Rent rate(s) per rentable square foot for During the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commencesSublease Term, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs to Sublandlord for the Expansion Space on the same terms use and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition occupancy of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal toSubleased Premises the following: (Aa) if Subtenant delivers its Exercise Notice prior to Base rent (the “Base Rent”) for the first three (1st3) anniversary years of the Sublease Term as follows: Commencement Date — Month 10 $ [***] Months 11-12 $ [***] Months 13-16 $ [***] Months 17-24 $ [***] Months 25-36 $ [***] $ [***] During the fourth (4th) year of the Sublease Term (i.e. Months 37-48) and for each year of the Sublease Term thereafter, annual Base Rent shall increase by [***] over the annual Base Rent in effect for the prior year. [***] (b) From the date that is three (3) months following the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary shall pay Subtenant’s proportionate share of the Commencement Dateadditional rent payments Sublandlord is obligated to make under the Prime Lease with respect to “Operating Expenses”, (x) six months Base Rent payable for all as more fully set forth and calculated in accordance with the Expansion Space multiplied by (y) provisions of Section 5 of the Prime Lease. “Subtenant’s proportionate share” means a fraction, the numerator of which is the number of complete or partial calendar months remaining rentable square feet in the Term as of the date Subtenant delivers its Exercise Notice Subleased Premises and the denominator of which is fortythe number of square feet in the Premises, subject to adjustment from time to time as such areas may change. Base Rent shall be payable in advance, without any notice or demand therefor and without deduction (except as expressly provided herein or in the Prime Lease), set-eight off, recoupment, or counterclaim on the first day of each month during the term of this Sublease. All rent and other sums due from Subtenant to Sublandlord under this Sublease, which are not otherwise designated as Base Rent, shall constitute “Additional Rent”. Any Additional Rent accruing to the Sublandlord under this Sublease, except as is otherwise set forth herein, shall be due and payable upon the later of ten (4810) business days following notice to Subtenant or when the installment of Base Rent next falling due after such Additional Rent accrues and becomes due and payable, provided that (a) Sublandlord shall have a longer period of time to make such payment under the “Fraction”). Prime Lease, in which event the longer time period shall govern, and (b) Subtenant will deliver such increased portion shall have thirty (30) days after receipt of the Security Deposit prior to Annual Statement (accompanied by Sublandlord’s calculation of the Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure proportionate share thereof) to timely deliver such increased portion of the Security Deposit will not postpone the commencement make any payment of Subtenant’s obligation to pay proportionate share due from Subtenant. All payments of Base Rent and Additional Rent shall be payable at the address set forth for the Expansion Space). Any Sublandlord in Section 4(f) hereof or at such additional Security Deposit will other place as Sublandlord may designate by proper notice to Subtenant, and shall be subject made payable to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveSublandlord.

Appears in 1 contract

Samples: Sublease Agreement (NextCure, Inc.)

Rent. Tenant covenants and agrees to pay Landlord during the Term the amount of the "Basic Rent" described in the Basic Lease Provisions above. Basic Rent shall be payable in advance in monthly installments (i.e., one twelfth of the applicable annual total per month), and shall be due on the first (1 st ) day of each month, in advance. Basic Rent shall be prorated with respect to the first and last monthly payments for each applicable period based on the number of calendar days in the applicable month. All sums due from Tenant to Landlord under this Lease shall be deemed Additional Rent. Basic Rent and Additional Rent shall be collectively referred to as "Rent." Rent shall be paid to Landlord without notice or demand and without deduction, abatement or set off of any kind, except as expressly provided in this Lease. No payment by Tenant or receipt by Landlord of an amount less than the Rent and Additional Rent due under this Lease shall be deemed anything other than a payment on account of the earliest of those sums due from Tenant under this Lease. No endorsement or statement on any check or any letter accompanying any check for the payment of Rent or Additional Rent shall be deemed an accord and satisfaction by Landlord, and Landlord may accept any payment from Tenant without prejudice to Landlord's right to recover the balance due, and without prejudice to Landlord to pursue any right or remedy provided to Landlord under this Lease or by law or in equity. 4 5. Construction, Installation & Operation of Solar Facility. (a) Solar Facility Installation. Tenant shall have the right to install the Solar Facility and other improvements expressly set forth herein and approved by Landlord in writing in advance of the installation, all on the Leased Premises and such other areas of the Building and the Property as is expressly provided for in this Lease, all at Tenant's own cost and expense . Installation type shall include solar to the roof and carport as more particularly described on Exhibit C . Tenant shall install Tenant Shall be responsible for all local electric utility approvals, and interconnection and metering arrangements and costs, including, without limitation, any upgrades that may be required in connection with the Building switchgear, and the electric distribution system of the local electric utility . Tenant shall conduct, at its expense, such testing and commissioning of the Solar Facility as may be required by the local electric utility and Legal Requirements, as defined herein, and perform all other work as may be required in order for the Solar Facility to achieve commercial operation in a timely manner . (b) Requirements for Installation, Maintenance, etc . All work performed by or on behalf of Tenant pursuant to this Lease, including, without limitation, initial installation and all subsequent maintenance, repairs, replacements, upgrading, modifying, and removing, shall be subject to the following : (i) The Base Rent rate(s) per rentable square foot for the Expansion Space proper functioning of the systems at the Property, including, without limitation, the mechanical, electrical, plumbing, heating, air conditioning (if any), ventilation, sanitary, sprinkler and other mechanical and other systems of the Building, or any part of the Property, shall not be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. adversely affected ; (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share work shall be increased appropriately to account for of a non structural nature, and the addition structural integrity of the Expansion Space. Property, including, without limitation, the Building, shall not be affected ; (iii) The Security Deposit will the Solar Facility shall only be increased installed at those locations shown on the Site Plan ; (iv) Tenant shall cause those contractors, materialmen and suppliers engaged to perform the work to deliver to Landlord certificates of insurance (in a form and content reasonably acceptabl e t o Landlord ) evidencing policies of commercial general liability insurance (providing the same coverages as required of Tenant by an amount equal to:this Lease) and workers' compensation and employer's liability ( $ 1 , 000 , 000 ) insurance, which insurance policies shall satisfy the insurance obligations imposed on Tenant under this Lease ; (v) the work shall be performed in compliance with all applicable Governmental Approvals required by any Governmental Authority for the performance of the work, all Legal Requirements, and all plans and specifications (that shall be approved by Landlord in advance of the performance of any work, such approval not to be unreasonably withheld, conditioned or delayed) ; (vi) the work shall be performed continuously and diligently, without (Ac) if Subtenant delivers its Exercise Notice prior Temporary Construction Lay - Down Area . Landlord and Tenant shall coordinate with one another so that Tenant shall have sufficient space on the Property designated by Landlord from time to time (and to the first (1stextent available) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary temporary storage, laydown and staging of the Commencement Datetools, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fractionmaterials and equipment, the numerator parking of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice construction crew vehicles and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when temporary construction trailer and if the initial Security Deposit is reduced pursuant to Section 5(b) aboverigging .

Appears in 1 contract

Samples: Solar Lease (Green Stream Holdings Inc.)

Rent. (i) The Base Rent rate(s) per rentable square foot for On the Expansion Space date that Tenant executes this Lease, Tenant shall be deliver ---- to Landlord the same as original executed Lease, the Base Rent rate(s) per rentable square foot (which shall be applied against the Rent payable for the initial Subleased Premises on first month Tenant is required to pay Base Rent), the date the term for the Expansion Space commencesSecurity Deposit, and shall increase at such times and in such amount as Base Rent for all insurance certificates evidencing the initial Subleased Premisesinsurance required to be obtained by Tenant under Section 12 of this Lease. Tenant agrees to pay Landlord, it being the intent of Sublandlord and Subtenant that without prior notice or demand, or abatement, offset, deduction or claim, the Base Rent rate(s) per rentable square foot for described on Page 1, payable in advance at Landlord's address shown on Page 1 on the Expansion Space shall always be first day of each month throughout the same as term of the Lease. In addition to the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant set forth on Page 1, Tenant shall pay Operating Costs for the Expansion Space Landlord in advance and on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary day of each month throughout the Commencement Dateterm of this Lease (including any extensions of such term), six (6) months’ Base as Additional Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary Tenant's share, as set forth on Page 1, of the Commencement DateOperating Expenses, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fractionTax Expenses, the numerator of which is the number of complete or partial calendar months remaining Common Area Utility Costs, and Utility Expenses, and Administrative Expenses all in the Term manner as specified in Sections 6.1, 6.2, 6.3, 6.4 and 7 of this Lease, respectively. Additionally, Tenant shall pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all reasonable and actual costs and expenses incurred by Landlord to enforce the date Subtenant delivers its Exercise Notice and the denominator provisions of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Security Deposit prior Premises by Tenant, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to Subtenant’s occupancy the aggregate of all these amounts. Except as otherwise provided in Addendum 1. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the Expansion Space (but Subtenant’s failure requirement to timely deliver such increased portion pay rental payments shall only apply to waiver of the Security Deposit will Base Rent and Tenant shall otherwise perform all other obligations of Tenant hereunder, including, but not postpone limited to paying to Landlord any and all amounts considered additional rent, such as Tenant's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses, and Administrative Expenses. If, at any time, Tenant is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Landlord of Tenant's requirement to pay rental payments shall be null and void and Tenant shall immediately pay to Landlord all rental payments waived by Landlord. The Rent for any fractional part of a calendar month at the commencement or termination of Subtenant’s obligation to pay Base the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be paid on the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for Commencement Date and the Expansion Spacefirst day of the calendar month in which the date of termination occurs, as, when and if as the initial Security Deposit is reduced pursuant to Section 5(b) abovecase may be.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Nuance Communications)

Rent. (ia) Subtenant shall pay to Sublandlord a base rent ("Base Rent") in an amount equal to Subtenant's Share (as defined below) of the "Basic Rent" and all "Supplemental Rent" (as such terms are defined in the Prime Lease) and all other amounts due from Sublandlord under the Prime Lease (without duplication of amounts constituting "Operating Expenses", as defined below). Subtenant acknowledges and agrees that Basic Rent under the Prime Lease is payable twice yearly (currently every March 1 and every September 1), and Supplemental Rent and other amounts due from Sublandlord under the Prime Lease are payable on demand. (b) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as payable by Subtenant to Sublandlord [on a reimbursement basis] [in advance]. Subtenant shall pay to Sublandlord, within ten (10) days of delivery by Sublandlord of an invoice therefor, the Base Rent rate(s) per rentable square foot hereunder accrued through the immediately preceding payment date for Base Rent. If any payments are estimated or adjusted after payment, then at [the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and end of any calendar year] if Subtenant has paid to Sublandlord an amount in such amount as excess of Base Rent for such period, Sublandlord shall reimburse to Subtenant any such excess amount (or shall apply any such excess amount to any amount then owing to Sublandlord hereunder, and if none, to the initial Subleased Premisesnext due installment or installments of Base Rent due hereunder, it being at the intent option of Sublandlord), or if Subtenant has paid to Sublandlord and Subtenant that less than the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) such period, Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion SpaceSublandlord any such deficiency within ten (10) days after Subtenant receives an invoice therefor. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement (Choicepoint Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for Sublessee covenants and agrees to pay to the Expansion Space shall be the same Sublessor, or as the Base Rent rate(sSublessor may in writing direct, in lawful money of Canada, without any claim, set-off, compensation or deduction whatsoever, the aggregate of the following sums: (a) per rentable square foot for  dollars ($) being rent in respect of each year or part of a year of the initial Subleased Premises Term as set out in Schedule C and payable in advance on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises.this Sublease; and (iib) Subtenant Additional Rent, which shall pay Operating Costs for be payable as and when required pursuant to the Expansion Space on the same terms and conditions set forth of this Sublease. The Sublessor has been advised by its legal counsel that the sublease of the Leased Premises is not subject to Goods and Services Tax (“GST”). If it is determined that the disposition by the Sublessor to the Sublessee of the sublease interest in Section 4 the Leased Premises is subject to GST, the Lessor will pay the GST provided that the Sublessee promptly executes and returns, at no cost to the Sublessor, any and all documents required by the Sublessor, to assign and transfer to the Sublessor any New Housing Rebate that might apply in respect of the sublease of the Leased Premises. The Sublessee hereby irrevocably assigns and transfers to the Sublessor any New Housing Rebate, or refund, or reduction of GST to which Sublessee may be entitled, and authorizes the Sublessor and its agents to apply for and collect any such rebate, refund or reduction. The Sublessor irrevocably appoints the Sublessee and the Sublessee’s authorized signatories as attorney of the Sublessee to execute, on behalf of the Sublessee, all such documents. If it is determined that the Sublessee’s use of the Leased Premises results in Rent being subject to GST, the Sublessee will pay to the Sublessor such GST amounts, when due, as Additional Rent. Any purported set-off, withholding or deduction of Rent by the Sublessee shall be deemed to be a breach of this Sublease, provided that Subtenant’s Percentage Share shall and entitle the Sublessor, at its option, to exercise any right or remedy available to it pursuant to this Sublease or at law. The Sublessee will have no right to a refund of, and the Sublessor will not be increased appropriately liable to account the Sublessee for refunding, any Rent in the addition event of the Expansion Spacetermination of this Sublease. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (iia) Subtenant shall pay Operating Costs for to Sublandlord rent (“Fixed Rent”) at the Expansion Space on rate of $362,180.00 per annum from the same terms and conditions set forth Commencement Date through the Expiration Date, payable in Section 4 advance in equal monthly installments of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space$30,181.67. (iiib) The Security Deposit will Monthly installments of Fixed Rent shall be increased by an amount paid in advance in equal to: (A) if Subtenant delivers its Exercise Notice prior to monthly installments on the first (1st) anniversary day of each month of the Term. If the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following Date shall not be the first (1st) anniversary day of the Commencement Datea month, (x) six months Base Fixed Rent payable for the Expansion Space multiplied by (y) shall be prorated on a fraction, the numerator per diem basis. The installment of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Fixed Rent for the Expansion Space)calendar month in which the Expiration Date occurs shall be prorated on a per diem basis if the Expiration Date does not occur on the last day of the month. (c) Fixed Rent and all other amounts (“Additional Rent;” together with Fixed Rent, collectively “Rent” or “rent”) payable by Subtenant to Sublandlord under the provisions of this Sublease shall be paid promptly when due, without notice or demand therefor, and without deduction, abatement, counterclaim or setoff. Fixed Rent and Additional Rent shall be paid to Sublandlord in lawful money of the United States at the office of Sublandlord or such other place (or by wire) as Sublandlord may designate from time to time. No payment by Subtenant or receipt by Sublandlord of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the earliest stipulated Fixed Rent or Additional Rent; nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction, and Sublandlord may accept any check or payment without prejudice to Sublandlord’s right to recover the balance due or to pursue any other remedy available to Sublandlord. Any such provisions in the Prime Lease incorporated herein by reference (whether capitalized or lower case) referring to “fixed rent,” “annual rent,” “base rent,” “rent,” ,”additional Security Deposit will rent,” “escalations,” “payments” or “charges” or words of similar import shall be subject deemed to reduction refer to an amount equal Fixed Rent and Additional Rent due under this Sublease. (d) Notwithstanding anything to two the contrary contained herein, so long as (2i) months’ Base Rent for Subtenant shall not be in default hereunder and (ii) Prime Landlord has waived $30,181.67 of the Expansion Space, as, when and if fixed annual rent under the initial Security Deposit is reduced Prime Lease pursuant to Section 5(b4(a) aboveof the First Amendment, the Fixed Rent payable by Subtenant hereunder (but not any Additional Rent) shall be abated for the first month of the Term in the amount of $30,181.67. Subtenant acknowledges that if this Sublease shall terminate due to a default by Subtenant hereunder or if this Sublease shall be rejected in the case of a bankruptcy, the foregoing abated Fixed Rent shall be immediately due and payable.

Appears in 1 contract

Samples: Sublease (Sema4 Holdings Corp.)

Rent. Tenant shall pay to Landlord as minimum monthly rent, without deduction, setoff, prior notice, or demand, the Basic Monthly Rent described in Paragraph 2.6, above (i) The Base subject to adjustments as provided in the attached Addendum), in advance, on or before the first day of each calendar month, beginning on the Rent rate(s) per rentable square foot Commencement Date and thereafter throughout the Term. If the Rent Commencement Date is other than the first day of a calendar month, then the Basic Monthly Rent payable by Tenant for the Expansion Space first month of the Term following the Rent Commencement Date (which first month shall be the same as the Base Rent rate(spayable upon execution of this Lease) per rentable square foot for the initial Subleased Premises shall be prorated on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition basis of the Expansion Space. (iii) The Security Deposit will be increased actual number of days during the Term occurring during the relevant month. Notwithstanding the foregoing, if Landlord is delayed in completion of Landlord’s Work due to any act or omission by an amount equal to: (A) if Subtenant delivers Tenant or its Exercise Notice prior agents, employees, contractors, or representatives, then in addition to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Basic Monthly Rent payable for the Expansion Space multiplied by first month of the Term following the Rent Commencement Date, additional rent (yat the rate of one-thirtieth of the Basic Monthly Rent per day) a fraction, the numerator of which is for the number of complete days of such delay. All “Rental” (which includes Basic Monthly Rent, Percentage Rent, if any, and any items designated as “Additional Rent” or partial calendar months remaining in referred to as additional rent hereunder) shall be paid to Landlord at the Term same address as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior notices are to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure be delivered to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced Landlord pursuant to Section 5(b) Paragraph 2.10, above.. Landmark National Ban—Revised 8-16-01 Standard Shopping Lease FINAL 8-16-01 Landlord /s/ [ILLEGIBLE] Tenant /s/ [ILLEGIBLE]

Appears in 1 contract

Samples: Standard Retail Lease (1st Pacific Bancorp)

Rent. (i) Sublessee shall pay to Sublessor as Rent, without deduction, setoff, notice or demand, at The Base Rent rate(s) Scripps Research Institute, 00000 Xxxxx Xxxxxx Xxxxx Road, La Jolla, CA 92037, or at such other place as Sublessor shall designate from time to time by written notice to Sublessee, paid on the first day of each month of the Term, Sublessor’s current actual rental rate per the Master Lease, estimated to be the amount of $4.31 per rentable square foot for feet (“RSF”) times the Expansion Space shall be the same as the Base Rent rate(s) per 5,620 rentable square foot for feet of the initial Subleased Premises on Premises, as of the date Commencement Date of the term for the Expansion Space commencesSublease, and which rental rate shall increase at such times and in such amount by Sublessor’s actual increased rental rate per the Master Lease as Base Rent for of the initial Subleased Premises, it being first day of November of each year during the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant Term. Sublessee shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 to Sublessor upon execution of this Sublease, provided that Subtenantand Sublessee’s Percentage Share receipt of a letter from Lessor consenting to this executed Sublease, $24,222.20 as Rent for the first month of the Term. If the Term begins on a day other than the first day of a month, the Rent for the partial months shall be increased appropriately prorated on a per diem basis based on the actual number of days in the month in which the Sublease commences. Additional provisions: · Sublessee shall also deposit with Sublessor $24,222.20 as a security deposit (“Security Deposit”), in the form of cash or check, at the sole discretion of Sublessee, upon execution of this Sublease and Sublessee’s receipt of a letter from the Lessor consenting to account this executed Sublease. The Security Deposit shall be held by Sublessor as security for the addition performance of Sublessee’s obligations under this Sublease. The Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Sublessor is entitled under the provisions of this Sublease) shall be returned to Sublessee within sixty (60) days after the expiration or earlier termination of this Sublease. If Sublessor transfers its interest in this Sublease, Sublessor shall either (1) transfer any Security Deposit then held by Sublessor to a person or entity assuming Sublessor’s obligations or (2) return to Sublessee any Security Deposit then held by Sublessor and remaining after any deductions permitted under this Sublease. · During the Term, Sublessee shall pay to Sublessor its pro-rata share, on a direct pass through basis as charged to Sublessor by Lessor, of all operating expense costs charged to Sublessor under the Master Lease. For purposes of clarification, the parties mutually agree that Sublessee’s pro-rata share (i.e., the proportional share the Premises bears to the Master Premises) shall be set at 26.83% of the Expansion Space. total cost of the above-referenced operating expenses charged to Sublessor under the Master Lease. One twelfth (1/12) of the annualized amounts owed by Sublessee under this section for operating costs shall be paid to Sublessor on the first day of each month during the Term. · Sublessor shall be entitled to use all or any portion of the Security Deposit, as reasonably necessary, to (i) cure Sublessee’s default in the payment of Rent, operating expenses, and/or any other amounts due under this Sublease; (ii) repair any damage or loss, excluding ordinary wear and tear, caused or contributed to by Sublessee or its invitees; (iii) clean the Premises, if necessary to return the Premises to the condition it was in prior to Sublessee occupying the Premises, upon the expiration or termination of this Sublease; and/or (iv) replace or restore furnishings, fixtures, equipment or other appurtenances other than due to normal wear and tear as a result of Sublessee’s use of the Premises. The Security Deposit will shall not be increased used by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary Sublessee in lieu of payment of the Commencement Date, six (6) last months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete Rent. If all or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased any portion of the Security Deposit prior is used by Sublessor as permitted hereunder during the Term, Sublessee agrees to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure pay to timely deliver such increased portion of Sublessor an amount sufficient to reinstate the Security Deposit will not postpone the commencement of Subtenantto its original amount within five (5) days after receiving Sublessor’s obligation written notice to pay Base Rent for the Expansion Space)reinstate such Security Deposit. Any such additional Security Deposit In addition, no interest will be subject to reduction to an amount equal to two (2) months’ Base Rent for paid on the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveDeposit.

Appears in 1 contract

Samples: Sublease (Fate Therapeutics Inc)

Rent. Subtenant covenants and agrees to pay Sublandlord as rent during the term of this Sublease annual rent specified in this Section 2 below (the “Annual Rent”) and other charges, if any (sometimes referred to as “additional rent” and collectively with Annual Rent, the “Rent”) specified below. Annual Rent shall be paid without any prior notice or demand therefor and without deduction or offset (except as otherwise set forth in this Sublease including any provisions of the Lease incorporated herein). Unless otherwise specified in this Sublease, all other Rent shall be payable within thirty (30) days after Subtenant’s receipt of an invoice with respect thereto. For any partial month, all Rent shall be prorated. Subtenant’s obligation to pay Rent, being deemed rent reserved under the Sublease, shall be independent of each and every other covenant contained in this Sublease (including the terms of the Lease that are incorporated herein). Rent shall include, and Subtenant shall pay to Sublandlord (or to Landlord as Sublandlord may expressly direct in writing) as additional rent hereunder any and all charges billed directly to Sublandlord for the account of Subtenant arising from Subtenant’s own use of the Sublet Premises, e.g., and without limitation, charges for repair of damage caused by Subtenant for which Sublandlord is responsible to reimburse Landlord, charges for work or services not otherwise required under the Sublease or Lease requested by Subtenant and performed or provided specifically for Subtenant, as well as charges for any overtime labor or usage with respect thereto (if overtime is charged by Landlord or otherwise must be incurred by Sublandlord), and the like; provided, notwithstanding anything in this Sublease to the contrary, Subtenant shall not be liable for any operating expenses or taxes or similar additional rent items or for utilities (including, without limitation, electricity), the parties hereby agreeing that such amounts have been accounted for in the Annual Rent rate set forth herein. Sublandlord shall have the same right to enforce payment on account of such additional charges as it shall have to enforce Subtenant’s payments on account of Rent. Sublandlord shall furnish to Subtenant any backup that Landlord shall furnish to Sublandlord with respect to any charges claimed by Landlord relating to the Sublet Premises or, if Landlord fails to furnish same, shall request the backup for such charges to enable Subtenant to determine the validity thereof. The first Lease Year for purposes of payment of Annual Rent shall commence on the Sublease Rent Commencement Date (defined below). Subtenant’s obligation to make monthly payments on account of Rent shall commence to accrue on the date (“Sublease Rent Commencement Date”), which is the later of (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commencesAugust 1, 2020 and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant the earlier of (x) the date which is four months after the Sublease Commencement Date (being that date which signifies the fulfillment of all conditions precedent to identification of the Sublease Commencement Date, including without limitation the Special COVID-19 Provision) and (y) if the aforesaid Sublease Commencement Date shall pay Operating Costs for have occurred, October 1, 2020. Annual Rent shall be paid to Sublandlord at the Expansion Space on the same terms and conditions address set forth in Section 4 the first paragraph of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for in advance, on the addition first day of each and every month throughout the term of this Sublease, timely payment being of the Expansion Space. essence hereof. If Subtenant fails to pay any installment within five (iii5) The Security Deposit will be increased by an days after same is due, such unpaid amount equal to: shall bear interest at the Applicable Rate (Aas defined in the Lease) if Subtenant delivers its Exercise Notice prior to from and after the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice day following the first date(s) said installment become due until paid in full. Nothing in this paragraph shall be deemed to limit Sublandlord’s other rights and remedies as may accrue under the Lease (1stexcept Sublandlord shall only be permitted to charge interest in accordance with this paragraph) anniversary or this Sublease by reason of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased pay Rent or any portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovethereof.

Appears in 1 contract

Samples: Sublease (SELLAS Life Sciences Group, Inc.)

Rent. 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the “Base Rent”). (b) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year. (c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year. (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as “Tenant’s Monthly Utility Charge”, and all such amounts shall constitute rent hereunder). (i) The Base Rent rate(sAll electricity directly serving the Premises (“Direct Electrical Costs”) per rentable square foot for the Expansion Space shall be metered or submetered and Tenant shall pay, as monthly rental, the same actual cost (without mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord’s election, as a payment directly to the Base Rent rate(sentity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent days of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased PremisesLandlord’s delivery of an invoice to Tenant therefor. (ii) Subtenant shall pay Operating Costs With respect to all utility costs for the Expansion Space on Premises other than Direct Electrical Costs (collectively, “Other Utility Costs”), Landlord shall have the same terms right, from time to time, to fairly and conditions set forth equitably allocate some or all of such Other Utility Costs among different portions or occupants of the Building (“Cost Pools”), in Section 4 Landlord’s reasonable discretion. Such Cost Pools may include, but shall not be limited to, office space tenants and research and development and laboratory tenants of this Sublease, provided that Subtenant’s Percentage Share the Building. The utility costs within each such Cost Pool shall be increased appropriately allocated and charged to account for the addition of the Expansion Spacetenants within such Cost Pool in an equitable manner. (iiie) Beginning on the Rent Commencement Date (or, if not the first day of a month, the first day of the month following the Rent Commencement Date), during each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the Allowance Rent, if any, as provided in Exhibit B attached hereto. (f) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated “additional rent.” As used in this Lease, “rent” shall mean and include all Base Rent, Allowance Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. 3.2 The Security Deposit will additional rent payable pursuant to sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof shall be increased by an amount equal tocalculated and paid in accordance with the following procedures: (Aa) if Subtenant On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord’s estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month during such ensuing calendar year, Tenant shall pay to Landlord, as monthly rent, one twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior calendar year’s estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the current calendar year will vary from Landlord’s estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such calendar year. If Landlord delivers its Exercise Notice estimate after the first day of a calendar year, or if Landlord revises its estimate for a calendar year, then subsequent payments by Tenant for such calendar year shall be based on such late or revised estimate, as the case may be, with an appropriate adjustment to the amount of such subsequent payments such that, prior to the first (1st) anniversary end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord’s entire estimate of the Commencement Dateamounts payable under sections 3.1(b), six 3.1(c), and 3.1(d)(ii) hereof for such calendar year. (6b) months’ Base Rent initially Within a reasonable time after the end of each calendar year, but no later than April 1, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within ten (10) days after delivery of such statement. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord’s right to receive, and Tenant’s obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord’s office in the Project or at such other location as Landlord may designate, for the Expansion Spacepurpose of verifying the information in such statement; orprovided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than ninety (90) days after Landlord shall have delivered the written statement pertaining to such period. (Bc) if Subtenant delivers its Exercise Notice following If the first (1stLease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.l(d)(ii) anniversary hereof applicable to the calendar year in which the end of the Commencement Date, (x) six months Base Rent payable for term occurs shall be prorated on the Expansion Space multiplied by (y) a fraction, the numerator of basis which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone days from the commencement of Subtenantsuch calendar year to and including the date on which the end of the term occurs bears to three hundred sixty five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination. 3.3 Tenant shall pay all monthly installments of Base Rent and monthly installments of Landlord’s estimates of amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof and monthly installments of the Allowance Rent (collectively, “Monthly Rent”) to Landlord, in advance, on or before the first day of each and every calendar month during the Lease Term, without notice, demand, deduction or offset, in lawful money of the United States of America. Landlord instructs Tenant to pay all such Monthly Rent to the address specified therefor in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. If Xxxxxx’s obligation to pay Base Rent hereunder commences on a day other than the first day of a calendar month, or if the Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payable for such partial month shall be appropriately prorated on the Expansion Space)basis of a thirty (30)-day month. Any such additional Security Deposit will be subject Upon signing this Lease, Tenant shall pay to reduction to Landlord an amount equal to two (2) months’ the Base Rent for the Expansion Spacefirst full calendar month of the Term in which monthly Base Rent is payable, as, when and if which amount Landlord shall apply to the initial Security Deposit is reduced pursuant to Section 5(b) aboveBase Rent for such first full calendar month.

Appears in 1 contract

Samples: Lease (Bionano Genomics, Inc.)

Rent. (i) The Base Rent rate(s) per rentable square foot To the extent collected by Nine Penn Owner prior to Closing, the “minimum” or “base” rent paid by tenants under the Assignable Leases for the Expansion Space calendar month in which the Closing occurs shall be prorated between Purchaser and Seller on the same as basis of the Base Rent rate(s) per rentable square foot number of days of such month the Membership Interests will have been owned by Purchaser and Seller, respectively. At Closing Purchaser shall receive a credit against the Purchase Price for all “minimum” or “base” rent paid by tenants under the Assignable Leases for the initial Subleased Premises period following the calendar month in which the Closing occurs, to the extent collected by Nine Penn Owner prior to Closing. There shall be no proration of any rent which is delinquent as of the Closing Date. Rent collected on or after the date Closing Date shall be applied first to the term month of Closing, then to any delinquency existing for the Expansion Space commencesperiod thereafter and then to any delinquency for the period prior to Closing. Purchaser shall cause any rent applicable to the period prior to Closing to be remitted to Seller if, as, and when collected by Purchaser. If Seller receives any rent following Closing, then Seller shall cause any rent applicable to the period following Closing to be remitted to Purchaser if, as, and when collected by Seller. At Closing, Seller shall deliver to Purchaser a schedule of all delinquent rent. In the event any delinquent rent is omitted from such schedule, Seller shall not be deemed to have waived its rights to such rent. Purchaser shall cause Nine Penn owner to include the amount of delinquent rent in the first bills thereafter submitted to the tenants in question after the Closing, and shall increase continue to do so for three (3) months thereafter. Purchaser shall promptly deliver to Seller a copy of each such xxxx submitted to tenants. After such three (3) month period following Closing, Purchaser will cause Nine Penn Owner to use commercially reasonable efforts to pursue remedies directly against delinquent tenants, but shall in no event be obligated to xxx to evict or otherwise dispossess such tenants and shall not be required to continue to pursue such remedies against such tenants after the date that is eighteen (18) months after the Closing Date. Any percentage rent collected in connection with any Assignable Leases shall be prorated at such times and Closing in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same manner as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant “minimum” and “base” rent above but shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction reproration after the applicable lease year is over and total revenues and breakpoint have been reconciled under the applicable Assignable Lease, with such revenues and breakpoint allocated evenly over the year in which Closing occurs on a daily basis and any amount payable from one party to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if other shall be paid promptly after such reconciliation is required under the initial Security Deposit is reduced pursuant to Section 5(b) aboveapplicable Assignable Lease.

Appears in 1 contract

Samples: Sale Agreement (Equity Commonwealth)

Rent. 4.1. The rent payable by Subtenant for the Sublease Premises shall consist of the Base Rent under Section 4.2, Additional Rent under Section 4.3 and Other Charges under Section 4.4. Base Rent, Additional Rent, Other Charges and any other sums payable by Subtenant under this Sublease are collectively referred to as “Rent.” Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Subtenant shall make all payments due to Sublandlord pursuant to this Sublease as follows: check, wire, or other form of payment specified in writing by Sublandlord from time to time. 4.2. Beginning on the Sublease Commencement Date (subject to Section 1.7) and continuing thereafter on the first day of each calendar month during the Sublease Term, Subtenant shall pay to Sublandlord in advance, and without notice, demand, deduction or offset, the monthly Base Rent specified in Section 1.7 above in lawful money of the United States of America. If the Sublease Commencement Date is a day other than the first day of a calendar month or the Expiration Date is a day other than the last day of a calendar month, the Base Rent for such month will be prorated, based on a thirty (30) day month. Subtenant shall deliver in advance the first full month of Base Rent to Sublandlord together with Subtenant’s executed counterpart of this Sublease. 4.3. In addition to monthly Base Rent, as additional rent (“Additional Rent”) Subtenant shall be responsible for paying to Sublandlord Subtenant’s Share of any Operating Expenses and Taxes (collectively, “Direct Expenses”) as such terms are defined in the Master Lease, payable by Sublandlord under the Master Lease during the Sublease Term, to reimburse Master Landlord for taxes, insurance, operating expenses, common area maintenance charges, management fees, capital expenditures for required repairs or improvements and/or other expenses included in Direct Expenses. Sublandlord will use commercially reasonable efforts to pass through to Subtenant in a timely manner any statement or estimate of Direct Expenses received from Master Landlord. To the extent Direct Expenses are payable on a monthly estimated basis under the Master Lease, the Additional Rent in respect thereto shall be paid as and when Base Rent is due based upon Master Landlord’s estimates; and upon any reconciliation of estimated and actual Direct Expenses (including without limitation any credits against Sublandlord’s rental obligations under the Master Lease), the corresponding Additional Rent shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement under the Master Xxxxx. For purposes of calculating Additional Rent, Sublandlord shall be entitled to rely conclusively on Master Landlord’s determination of estimated and actual Direct Expenses; provided, however, that if any adjustment of Additional Rent paid under the Master Lease results in a payment or credit to Sublandlord under the Master Lease for the period of the Sublease Term, such payment or credit shall be paid over or credited to Subtenant following receipt or credit to Sublandlord. The expiration or earlier termination of this Sublease shall not affect the obligations of Sublandlord or Subtenant pursuant to this Section 4.3, and such obligations shall survive, remain to be performed after, any expiration or earlier termination of this Sublease. In the event that Sublandlord audits the books and records, or any of them, of the Master Landlord with respect to any payment of Master Landlord’s Operating Expenses and/or Taxes with respect to the Subleased Premises, subject to Master Xxxxxxxx’s prior written consent in each instance, Sublandlord agrees to provide Subtenant with copies of any such books and records, provided that Subtenant in all cases agrees to sign any confidentiality agreement (“NDA”) required by Master Xxxxxxxx and Sublandlord; and provided further, that, subject to Master Xxxxxxxx’s prior written consent in each instance, Sublandlord shall, upon the reasonable written request of Subtenant and consistent with any express rights accorded to Sublandlord under the Master Lease, at Subtenant’s sole cost and expense, request an audit of Master Landlord’s books and records in which Subtenant may participate, so long as Subtenant first signs any NDA required by Master Landlord and Sublandlord. If Sublandlord obtains a refund allocable to Master Landlord’s Operating Expenses and/or Master Landlord’s Taxes relating to the Subleased Premises after Subtenant makes a payment on account of such Master Landlord Operating Expenses and/or Master Landlord’s Taxes (as applicable), Sublandlord shall, based upon Sublandlord’s equitable determination, refund Subtenant an amount corresponding to Subtenant’s proportionate share of such refund. 4.4. Throughout the Sublease Term, Subtenant also shall pay within thirty (30) days after written notice from Sublandlord (i) The Base Rent rate(s) per rentable square foot for any other fees, charges or sums due under the Expansion Space shall be Master Lease in connection with Subtenant’s use and/or occupancy of the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Sublease Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) costs related to Utilities (defined in Section 6.1 below), and (iii) any gross receipts and/or rent tax respecting this Sublease and/or imposed on Sublandlord based upon the Rent payable hereunder, and any taxes assessed upon or incurred with respect to the possession, leasing, operating, management, maintenance, alteration, repair, use or occupancy by Subtenant of the Sublease Premises or any portion of the Building (collectively, “Other Charges”). By way of illustration and not limitation, Other Charges include: (a) excess or after hours electrical service or heating, ventilating or air conditioning service supplied to the Sublease Premises; (b) services or benefits supplied to the Sublease Premises for which Master Landlord reserves any right to impose a fee or charge separate from Direct Expenses; (c) to reimburse Master Landlord for taxes on personal property, equipment and fixtures located in or about the Sublease Premises during the Sublease Term; (d) to pay for any damage to the Building resulting from the gross negligence or willful misconduct of Subtenant or Subtenant’s officers, employees, architects, engineers, contractors or other licensees, guests, visitors or other invitees, sub-subtenants, successors or assigns (collectively, the “Subtenant Parties”), but only to the extent not covered by insurance maintained or required to be maintained by Master Landlord under the Master Lease; and (e) for damages or other sums recoverable under the Master Lease which are the result of any acts, omissions, or negligence by Subtenant, its agents, employees, or contractors, or failure of performance or Default by Subtenant under this Sublease. 4.5. All Rent shall pay Operating Costs for be paid to Sublandlord at the Expansion Space on the same terms and conditions address set forth in Section 4 1.11, or to such other person or such other place as Sublandlord may from time to time designate in writing. If any Rent is not paid within three (3) business days after its due date, Subtenant acknowledges that Sublandlord will incur additional administrative expenses and costs which are difficult or economically impractical to ascertain. Subtenant shall pay an administrative charge to Sublandlord equal to five percent (5%) of this Subleasethe delinquent amount plus any attorneys' fees incurred by Sublandlord by reason of Subtenant's failure to pay Rent and/or Other Charges when due hereunder. However, provided that Subtenant’s Percentage Share Subtenant shall be increased appropriately entitled to account for the addition notice of the Expansion Space. nonpayment and a three (iii3) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice business day cure period prior to the imposition of such late charge on the first occasion in any twelve (1st12) anniversary consecutive month period in which any installment of Rent is not timely paid. Neither demand for nor receipt of any late charge called for under this Sublease shall (i) operate to waive any default by Subtenant or provide a substitute for Subtenant’s full and timely performance of the Commencement Dateobligation to pay Rent, six or (6ii) months’ Base Rent initially payable for limit the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary exercise of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete any other right or partial calendar months remaining remedy Sublandlord may have under this Sublease in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement case of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovedefault.

Appears in 1 contract

Samples: Sublease (Talis Biomedical Corp)

Rent. The yearly rent (i"Fixed Rent") The Base Rent rate(sis One Hundred Seventy-Seven Thousand One Hundred and 00/100 ($177,100.00) per rentable square foot Dollars. You, the Subtenant, will pay this yearly rent to the Sublandlord in equal monthly payments of Fourteen Thousand Seven Hundred Fifty-Eight and 33/100 ($14,758.33) Dollars. Payments shall be paid in advance on the first day of each month during the Term. As an inducement to Subtenant to execute this Sublease Agreement, Sublandlord agrees Subtenant shall not be required to pay any Fixed Rent, Taxes (pursuant to Article 19 of the Overlease) or additional charges pursuant to Xxxxxxx 00 of the Overlease for the Expansion Space first four (4) months of thx Xxxx xxreof, provided, however, that all other items of Additional Rent (as hereinafter defined) shall be due and payable. All payments which Subtenant is obligated to pay to Sublandlord pursuant to this Sublease (with the same exception of Fixed Rent) shall be deemed "Additional Rent" regardless of whether or not referred to as Additional Rent. All rental and other payments shall be paid to Sublandlord at the Base address as set forth above Attn: Accounts Receivable, or to such other address as Sublandlord may designate by notice to Subtenant. All remedies available to Sublandlord under this Sublease, or otherwise at law or equity, for Subtenant's failure to pay Fixed Rent rate(s) per rentable square foot shall also be available to Sublandlord for Subtenant's failure to pay Additional Rent. Fixed Rent and the initial Subleased Premises on Additional Rent which is payable in monthly installments shall be payable without demand, offset, or deductions (except as expressly provided for herein or in the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Overlease). Subtenant shall pay Operating Costs for any and all sxxx (xxxxpt fixed annual rental) due pursuant to the Expansion Space on the same terms Overlease (including without limitation common area costs, insurance costs and conditions set forth real estate taxes) in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition equal monthly installments in advance based upon Sublandlord's reasonable estimation of the Expansion Space. (iii) The Security Deposit amounts that will be increased by an due at the end of the year, quarter or other period that same is due under the Overlease. Once the final amount equal to: is deterxxxxx, Subtenant will pay Sublandlord any additional amount that may be due within ten (Al0) if Subtenant delivers its Exercise Notice prior days after demand thereof or in the case of overpayment Sublandlord shall refund the overpayment or credit same to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement account of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement (Media Sciences International Inc)

Rent. (i) The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for to Sublandlord in monthly installments during the Expansion Space on the same terms and conditions set forth in Section 4 Term of this SubleaseSublease on or before the first day of every calendar month during the Term Subtenant's Building Share of any and all costs, provided expenses, claims, liabilities, losses, actions, causes of action, judgments (as such are internally accounted for by Sublandlord) actually incurred in the ownership, use, maintenance and/or operation of the Building ("Rent"). The parties agree that Subtenant’s Percentage Share the Rent charged to Subtenant shall be increased appropriately to account for the addition of the Expansion Space. (iii) consistent with Sublandlord's then current accounting practices, which shall be in conformity with GAAP. The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) terms "Building Share" shall mean a fraction, the numerator of which is the number of complete or partial calendar months remaining in rentable square feet within the Term as of the date Subtenant delivers its Exercise Notice Subleased Premises, and the denominator of which shall be the total number of rentable square feet within the Building. The parties agree that Subtenant's initial Building Share is forty-eight (48) (equal to 52.70% and Subtenant's Building Share as determined herein shall be modified, based on any increase or decrease in the “Fraction”)number of rentable square feet within the Subleased Premises as permitted under this Sublease. Subtenant will deliver such increased portion The parties also agree that, by way of example only and not of limitation, Exhibit "F" attached hereto shows the parties' initial estimate of Rent for the first year of the Security Deposit prior Term but such Exhibit shall not limit or define Rent, but is merely an illustration as to Subtenant’s the calculation of Rent. If Sublandlord obtains a Replacement, Subtenant shall continue its occupancy of the Expansion Space Subleased Premises (but Subtenant’s failure pursuant to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent Section 2.3) for the Expansion Space). Any such period, which ends five (5) years after the Effective Date, and Subtenant shall be responsible for paying the newly calculated Rent, which shall include an additional Security Deposit will be subject to reduction to an amount equal to two Subtenant's Building Share of the costs incurred in connection with the renegotiation, including, without limitation, interest on Sublandlord's equity investment in the Building, interest on any debt encumbering the campus, attorneys' fees, and any and all other costs and expenses incurred by Sublandlord in connection with such Replacement. Upon completion by Sublandlord of "Sublandlord's Work" described in Exhibit "E" hereto, Sublandlord shall determine the amount of depreciation permitted to be taken thereon monthly during the Term, which amount shall be added to the Rent payable hereunder. Sublandlord shall provide notice of such monthly increase in Rent, and thereafter Subtenant shall pay Rent in the amount set forth in Sublandlord's notice. In the event such notice is delivered after the Effective Date, Subtenant shall pay to Sublandlord, within thirty (230) months’ Base days after receipt of such notice, such additional Rent due for any month prior to and including the Expansion Spacemonth in which such notice is given. In all cases, as, when and if Subtenant's obligations under this Section 5.1 shall not include any "accelerated" payments related to the initial Security Deposit is reduced pursuant to Section 5(b) aboveamortized costs described herein.

Appears in 1 contract

Samples: Sublease (Mindspeed Technologies Inc)

Rent. (i) 4.1 The Base Rent rate(s) per rentable square foot rent payable by Subtenant for the Expansion Space Sublease Premises shall be the same as consist of the Base Rent rate(s) per rentable square foot for the initial Subleased Premises under Section 4.2, Additional Rent under Section 4.3 and Other Charges under Section 4.4. Base Rent, Additional Rent Other Charges and any other sums payable by Subtenant under this Sublease are collectively referred to as “Rent.” Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Subtenant shall make all payments due to Sublandlord pursuant to this Sublease by wire transfer, or other form of payment specified in writing by Sublandlord from time to time. 4.2 Beginning on the date Sublease Commencement Date (subject to Section 1.7) and continuing thereafter on the term for first day of each calendar month during the Expansion Space commencesSublease Term, Subtenant shall pay to Sublandlord in advance, and shall increase at such times and without notice, demand, deduction or offset, the monthly Base Rent specified in such amount as Section 1.7 above in lawful money of the United States of America. If the Sublease Commencement Date is a day other than the first day of a calendar month or the Expiration Date is a day other than the last day of a calendar month, the Base Rent for such month will be prorated, based on a thirty (30) day month. Subtenant shall deliver in advance the initial Subleased Premisesfirst full month of Base Rent to Sublandlord on the Execution Date. 4.3 Commencing January 1, it being 2023 and thereafter through the intent remainder of the Sublease Term, Subtenant also shall pay as “Additional Rent” Subtenant’s Share of Operating Costs, Taxes, and Insurance (collectively, “Direct Expenses”) as such terms are defined in the Master Lease, insofar as applicable to the period beginning January 1, 2023 and only to the extent that Subtenant’s Share of such Direct Expenses exceeds Subtenant’s Share of Direct Expenses payable during the Base Year of 2022, to reimburse Master Landlord for Operating Costs, Taxes, Insurance, and/or other expenses included in Direct Expenses. Sublandlord will use commercially reasonable efforts to pass through to Subtenant in a timely manner any statement or estimate of Direct Expenses received from Master Landlord. To the extent Direct Expenses are payable on a monthly estimated basis under the Master Lease, the Additional Rent in respect thereto shall be paid as and when Base Rent is due based upon Master Landlord’s estimates; and upon any reconciliation of estimated and actual Direct Expenses (including without limitation any credits against Sublandlord’s rental obligations under the Master Lease), the corresponding Additional Rent shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement under the Master Lease. For purposes of calculating Additional Rent, Sublandlord shall be entitled to rely conclusively on Master Landlord’s determination of estimated and actual Direct Expenses; provided, however, that if any adjustment of Additional Rent paid under the Base Rent rate(s) per rentable square foot Master Lease results in a payment or credit to Sublandlord under the Master Lease for the Expansion Space period of the Sublease Term, such payment or credit shall always be paid over or credited to Subtenant following receipt or credit to Sublandlord. The expiration or earlier termination of this Sublease shall not affect the same as obligations of Sublandlord or Subtenant pursuant to this Section 4.3, and such obligations shall survive, remain to be performed after, any expiration or earlier termination of this Sublease. If Subtenant desires that Sublandlord exercise the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions audit right set forth in Section 4 10 of Exhibit C to the Master Lease and sends Sublandlord a written notice requesting that Sublandlord exercise an audit on Subtenant’s behalf (an “Audit Notice”), then provided Subtenant delivers the Audit Notice at least sixty (60) days prior to the deadline for commencement of an audit under the Master Lease, Sublandlord shall promptly commence an audit following receipt of the Audit Notice at Subtenant’s sole cost and expense. 4.4 Throughout the Sublease Term, without any application of a Base Year, Subtenant also shall pay within thirty (30) days after written notice from Sublandlord (i) any other fees, charges or sums due under the Master Lease in connection with Subtenant’s use or occupancy of the Sublease Premises (but excluding charges for additional services not requested by Subtenant), and (ii) any gross receipts or rent tax this Sublease or imposed on Sublandlord based upon the Rent payable hereunder (including without limitation, taxes imposed under Proposition C, known as the Early Care and Education Commercial Rents Tax); provided that such gross receipts taxes (including without limitation, taxes imposed under Proposition C), shall be based solely on the Rent paid under this Sublease and not any other Proposition C expenses or other gross receipts expenses or taxes that could be considered due based on Sublandlord’s rent to Master Landlord, or (iii) any other taxes assessed upon or incurred with respect to the possession, leasing, operating, management, maintenance, alteration, repair, use or occupancy by Subtenant of the Sublease Premises or any portion of the Building (collectively, “Other Charges”). By way of illustration and not limitation, Other Charges include: (a) excess or after hours electrical service or heating, ventilating or air conditioning service supplied to the Sublease Premises at Subtenant’s request; (b) services or benefits supplied to the Sublease Premises at Subtenant’s request (or with Subtenant’s acquiescence) for which Master Landlord reserves any right to impose a fee or charge separate from Direct Expenses; (c) to reimburse Master Landlord for taxes on personal property, equipment and fixtures located in or about the Sublease Premises during the Sublease Term; (d) to pay for any damage to the Building resulting from the act or omission of Subtenant or Subtenant’s officers, employees, architects, engineers, contractors or other licensees, guests, visitors or other invitees, sub- subtenants, successors or assigns (collectively, the “Subtenant Parties”); and (e) for damages or other sums recoverable under the Master Lease which are the result of any acts, omissions, or negligence by Subtenant, its agents, employees or contractors, or failure of performance or Default by Subtenant under this Sublease. 4.5 Notwithstanding anything in this Sublease to the contrary, Other Charges shall not include: (i) any charges that apply solely to the portion of the Master Premises that does not include the Sublease Premises and is not sublet by Subtenant hereunder (the “Reserved Premises”) (e.g., real estate taxes on leasehold improvements therein), (ii) late fees or penalties assessed against Sublandlord as a result of Sublandlord’s acts or omissions and not triggered by Subtenant’s breach of the this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. and (iii) The Security Deposit charges incurred as a result of excess or additional services specifically requested by Sublandlord for the Reserved Premises or for or including the Sublease Premises without Subtenant’s consent. 4.6 All Rent shall be paid to Sublandlord at the address set forth in Section 1.11, or to such other person or such other place as Sublandlord may from time to time designate in writing. If any Rent is not paid when due, Subtenant acknowledges that Sublandlord will be increased by incur additional administrative expenses and costs which are difficult or economically impractical to ascertain. Subtenant shall pay an amount administrative charge to Sublandlord equal to: to five percent (A5%) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six delinquent amount plus any attorneys' fees incurred by Sublandlord by reason of Subtenant's failure to pay Rent and/or Other Charges when due hereunder. Neither demand for nor receipt of any late charge called for under this Sublease shall (6i) months’ Base Rent initially payable operate to waive any default by Subtenant or provide a substitute for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary Subtenant’s full and timely performance of the Commencement Dateobligation to pay Rent, or (xii) six months Base Rent payable for limit the Expansion Space multiplied by (y) a fraction, the numerator exercise of which is the number of complete any other right or partial calendar months remaining remedy Sublandlord may have under this Sublease in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement case of Subtenant’s obligation default. Notwithstanding the foregoing, for the first time in any 12-month period that Subtenant has failed to pay Base Rent for when due, such late charge, as described above, shall not apply unless Subtenant fails to make such payment within three (3) business days of receipt of Sublandlord’s written notice of such delinquency; provided that Sublandlord shall thereafter not be required to give Subtenant such notice more than once in any 12-month period prior to assessing the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovelate charge.

Appears in 1 contract

Samples: Sublease (Nerdwallet, Inc.)

Rent. (ia) The Base Rent rate(s) per rentable square foot TherentpayablebytheLesseetotheLessorfortheSchedulePropertyshallbe Rs. /-(Rupees )onlyperannumperAcre.Theportionofthe land less than one Acre shall be calculated in terms of Square meter and the rent payable for the Expansion Space same shall be at Rs./- per Square meter or part thereof, per annum. OR The rent payable by the same as Lessee to the Base Rent rate(s) per rentable square foot for Lessor after Commercial Operation of the initial Subleased Premises power plant shall be Rs.per unit of total power generated from the power plant installed on the date land of Lessor. Till the term for start of commercial operation of the Expansion Space commencesplant, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(srent shallbeRs. /-(Rupees ) only per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) annum per rentable square foot for the initial Subleased PremisesAcre. (iib) Subtenant The annual rent shall pay Operating Costs for be paid in twelve equal instalments and each instalment tobe paidby5thdayofeverymonth,bycreditingthesametotheLessor‟sBankAccount the Expansion Space details of which may be furnished by the Lessor from time totime. OR In case of lease rent on the same terms and conditions set forth basis of Rs.per unit, the monthly lease rent would be calculated on the basis of monthly electricity injected in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of grid from the Expansion Spacepower plant installed on the land ofLessor. (iiic) The Security Deposit Lessor may opt for payment of lease rent directly from the Distribution company, whichwillsignPowerPurchaseAgreementwithLesseefortheabove- mentioned Power Plant to be installed by Lessee. In such a case the Distribution company will be increased pay the lease rent to Lessor on monthly basis from the proceeds payable to the Lessee in lieu of Power supplied by an amount equal to:Lessee. In order to give this effectasuitableprovisionwillbemadeinthePPAtobesignedbetweenLesseeand the DistributionCompany. (Ad) if Subtenant delivers its Exercise Notice prior to [on mutual agreement between Lessor and Lessee] The rent hereby reserved shall be paid by enhancing the first same at the endofevery year(s), at % on the rent herebyagreed. (1ste) anniversary of IftheLesseedelaysthepaymentofrentbyduedateofeverymonth,foranyreason, the Commencement Date, six (6) months’ Base Rent initially payable same shall be paid by adding the interest at the rate % for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovesaid delayed period.

Appears in 1 contract

Samples: Power Purchase Agreement

Rent. (i) 4.1 The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant Tenant shall pay Operating Costs for to the Expansion Space on the same terms and conditions Landlord at die address set forth in Paragraph 50.1, in lawful money of Canada and without any deduction, set off or abatement, throughout the Term an annual minimum rent (the "RENT"), in advance, on the first day of each month throughout the Term as follows: $103,575.00 per annum, payable in equal consecutive monthly instalments of $8,631.25 in advance, on the first day of each month during each year of the 5 years of the Term. The aforesaid Rent is calculated on the basis of a net rent of: $12.50 per square fool of Gross Leasable Area of the Leased Premises per annum for each of the 5 years of the Term. Rent and Additional Rent may be adjusted from time to time by the Landlord, if necessary, to conform with changes in the Gross Leasable Area of the Leased Premises. Subject to Section 4 2.2, a certificate of the Landlord's Architect to that effect shall be conclusive, SAVE FOR MANIFEST ERROR, SHALL BE ADDRESSED TO BOTH LANDLORD AND TENANT. 4.2 The Tenant covenants with the Landlord to pay Rent and Additional Rent and such oilier amounts for which the Landlord may be entitled to demand payment from the Tenant pursuant to the provisions of this SubleaseLease without any deduction, setoff or abatement. Rent and Additional Rent arc reserved by the Landlord and payable by the Tenant in consideration for the demise and lease of the Leased Premises hereunder. The Landlord shall, in addition to any other right or remedy available to the Landlord, have the same rights and remedies in the event of default by the Tenant in the payment of Additional Rent as the Landlord would have in the event of default by the Tenant in the payment of Rent. All Additional Rent payable by the Tenant to the Landlord pursuant to this Lease shall, unless otherwise provided that Subtenant’s Percentage Share herein, become due and payable with the next monthly instalment of Rent. Where the calculation of any Additional Rent is not made until after the expiration or earlier termination of this Lease, the obligation of the Tenant to pay such Additional Rent shall survive such expiration or earlier termination and such amount shall be increased appropriately payable by the Tenant after final determination and upon demand by the Landlord. 4.3 Landlord acknowledges that the TENANT has provided to account Royal LePage Commercial Inc. (the "LEASING AGENT"), in trust for the addition Landlord a deposit equal to the sum of thirty-eight thousand two hundred and seventy one dollars and sixty-five cents ($38,271.65) (the Expansion Space. (iii"DEPOSIT") The Security Deposit will to be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior applied to the first (1st) anniversary and last months' Rent and Additional Rent payable by the Tenant hereunder. Provided that if, at any time during the term, Rent is overdue and unpaid, or if the Tenant fails to keep or perform any of the Commencement Dateterms, six covenants and conditions of this Lease to be kept, observed and performed by the Tenant, then, the Landlord, at its option, may, in addition to any and all other rights and remedies provided for in this Lease or by law, appropriate and apply the balance of the Deposit (6the "BALANCE") months’ Base Rent initially payable or so much thereof as if necessary to compensate the Landlord for loss or damage sustained or suffered by the Landlord due to such breach on the part of the Tenant. If the Balance or any portion thereof is appropriated and applied by the Landlord for the Expansion Space; orpayment of overdue Rent or Additional Rent, then the Tenant shall, forthwith after demand by the Landlord, remit to the Landlord a sufficient amount in cash to restore the Balance to the original sum deposited and the Tenant's failure to do so forthwith after receipt of such demand constitutes a breach of this Lease. (B) if Subtenant delivers its Exercise Notice following 4.4 The Landlord shall deliver the first (1st) anniversary Balance to any purchaser of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining Landlord's interest in the Term as of the date Subtenant delivers its Exercise Notice Leased Premises and the denominator of which Development if such interest is forty-eight (48) (sold and thereafter the “Fraction”). Subtenant will deliver such increased portion of Landlord shall be discharged from any further liability with respect to the Security Deposit prior to Subtenant’s occupancy of so long as the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of purchaser has assumed the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) aboveLandlord's obligations hereunder.

Appears in 1 contract

Samples: Net Office Lease (Viventia Biotech Inc.)

Rent. (i) The Subtenant shall pay to Sublandlord the Monthly Base Rent rate(s) per rentable square foot for (pro rated in the Expansion Space case of any partial calendar month at the beginning or end of the Term, based upon the actual number of days in the month), without deduction, offset, notice, or demand, at Sublandlord's Address, or at such other place as Sublandlord shall designate from time to time by notice to Subtenant. Monthly Base Rent shall be paid for each calendar month occurring during the same as term in advance two (2) business days prior to the first day of the calendar month to which such Monthly Base Rent rate(s) per rentable square foot for is attributable, provided that the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as installment of Monthly Base Rent for the initial Subleased Premisessecond full calendar month of the Sublease Term shall be payable upon the execution of this Sublease by Subtenant. Notwithstanding the foregoing, it being the intent of Sublandlord and Subtenant that the Monthly Base Rent rate(s) per rentable square foot for April, 2002, February, 2003, March, 2003 and March, 2004 shall be abated. In addition, should more than 20 days elapse between Subtenant's application for a building permit for Subtenant's initial alterations and improvements and the Expansion Space date of issuance of the permit, and should such delay result in the Subleased Premises not being ready for occupancy by April 1, 2002 because of such delay in issuing the building permit, then Subtenant shall always be the same as the entitled to one day without Monthly Base Rent rate(s) per rentable square foot starting on April 1, 2002 for the initial Subleased Premisesevery two days of such delay up to a maximum of seven days of free rent. All charges, costs, expenses and sums required to be paid or borne by Subtenant under this Sublease in addition to Base Rent shall be deemed "Additional Rent," and Base Rent and Additional Rent shall hereinafter collectively be referred to as "Rent. (ii) Subtenant " Subtenant's covenant to pay Rent shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth be independent of every other covenant in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) . The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Monthly Base Rent for the Expansion Spacefourth year of the term commencing on April 1, 2005 shall be adjusted to the then Fair Market Base Rental as defined in Section 38(a) of the Master Lease; provided, however, if Fair Market Base Rental is $2.25 per RSF or less, the Monthly Base Rent shall remain at $2.25 per RSF for the fourth year of the Term (i.e., the twelve month period commencing on April 1, 2005). Any Approximately 30 days prior to the commencement of such additional Security Deposit will lease year, Landlord and Tenant shall endeavor to agree upon the Fair Market Base Rental. If they are unable to do so within such 30 days period, the Fair Market Base Rental shall be subject determined by three commercial real estate brokers - one selected by Sublandlord, one by Subtenant and one by the two brokers so selected. The Fair Market Base Rental shall be the average of the two closest amounts determined by the brokers. The brokers shall make their determination within 30 days of the selection of the third broker and any rent adjustment shall be retroactive to reduction to an amount equal to two (2) months’ April 1, 2005. Each party shall pay the fee of the broker which it selected and one half of the fee of the third. On April 1, 2006 and April 1, 2007, the Monthly Base Rent for the Expansion Space, as, when succeeding year shall be increased (but not decreased) in accordance with the change in the cost of living according to the provision of Section 35 of the Master Lease with appropriate adjustment to the terms of that section to correspond to the dates and if time periods set forth in this paragraph. At no time shall the initial Security Deposit is reduced pursuant Monthly Base Rent exceed that charged to Section 5(b) aboveSublandlord under the Master Lease.

Appears in 1 contract

Samples: Sublease Agreement (Rsa Security Inc/De/)

Rent. 3.1 Subtenant covenants and agrees to pay to Sublandlord, at its address first hereinabove written or at such other address as Sublandlord may by notice in writing to Subtenant from time to time direct, on the Rent Commencement Date and thereafter, monthly, in advance, fixed rent (the "Fixed Rent") (i) The Base during the initial term in an annual amount equal to $1,352,000; and (ii) during the extended term in an amount equal to the market value Fixed Rent rate(sdetermined in accordance with the provisions of Section 2.1(b) per rentable square foot for the Expansion Space hereof. Fixed Rent shall be payable in equal installments of 1/12 of the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises annual Fixed Rent, in advance, on the date Rent Commencement Date and thereafter, monthly, on the term first day of each calendar month during the Sublease. Fixed Rent for the Expansion Space commencesany partial month shall be paid by Subtenant at such rate on a prorated basis, and if the Sublease term commences on a day other than the first day of a calendar month, the first payment which Subtenant shall increase at make shall be a payment equal to a proportionate part of such times and in such amount as Base monthly Fixed Rent for the initial partial month from the Rent Commencement Date to the first day of the succeeding calendar month. 3.2 Upon the Commencement Date, Subtenant shall pay to Sublandlord a one-time payment of $600,000 for the purchase of the furniture listed in Exhibit E. 3.3 In addition to the Fixed Rent, Subtenant shall pay to Sublandlord during the term, as additional rent for the Subleased Premises, it being all amounts payable as additional rent under the intent Master Lease by Sublandlord (as Tenant under the Master Lease), including, without limitation, taxes and operating expenses as required under Section 5 thereof (the "Additional Rent"). Landlord and Sublandlord hereby agree that Subtenant shall at any time have the right in Landlord's name, Sublandlord's name or Subtenant's name, to protest or seek a reduction of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot any tax assessment or levy or to institute a suit for the Expansion Space shall always be recovery of any tax paid or for the exclusion of the Subleased Premises from any proposed improvement or special assessment district, and Landlord agrees to render to Subtenant all assistance reasonably possible, including joining in and signing any protest or pleading Subtenant may deem advisable. Subtenant agrees to reimburse Landlord for any reasonable out of pocket costs and expenses incurred by Landlord in connection with such assistance. Landlord agrees to provide Subtenant with satisfactory documentation evidencing the costs and expenses incurred by Landlord including, without limitation, copies of paid invoices, cancelled checks and statements for professional services rendered. 3.4 Subtenant covenants and agrees to pay such Additional Rent in monthly installments (in the same manner as for Fixed Rent under subsection 3.1 above) commencing on the Base Rent rate(s) per rentable square foot Commencement Date, with subsequent installments due and payable on the first day of each calendar month thereafter. Sublandlord's initial direction for the initial Subleased Premises. (ii) payment of such Additional Rent is as set out in Exhibit C attached hereto, but Sublandlord reserves the right to change such direction from time to time, subject to the provisions of this Section 3.4. Sublandlord may from time to time deliver to Subtenant a statement or statements of Additional Rent due under Section 3.3 hereof, and, upon request of Subtenant, reasonable documentation evidencing amounts charge to Subtenant. Subtenant shall pay Operating Costs for to Sublandlord, within fifteen (15) days after receipt from Sublandlord of such statement or statements, together with any documentation reasonable requested by Subtenant, the Expansion Space amount of such Additional Rent accrued as of the monthly rental payment date directly preceding the day of such payment, less any amounts theretofore paid on account thereof. To the extent Sublandlord shall be required to make on a monthly basis any payments which Subtenant shall be required to pay in respect of Additional Rent, Subtenant shall, upon notice from Sublandlord, pay to Sublandlord an amount equal to one-twelfth (1/12) of such Additional Rent on such monthly rental payment date thereafter, until receipt by Subtenant of a statement from Sublandlord with respect to a change in Additional Rent due hereunder. Thereafter, Additional Rent shall be adjusted and paid as set forth above, based on the same terms and conditions Additional Rent set forth in the most recent statement received from Sublandlord. 3.5 In the event that payments of Additional Rent, as set forth above with respect to any period fully within the term hereof, exceed the Additional Rent actually due for such period, Sublandlord shall credit such excess against amounts due from Subtenant at the time of delivery of Sublandlord's next statement as aforesaid. 3.6 Subtenant shall also pay as Additional Rent all amounts payable by Sublandlord with respect to maintenance and repair of the Demised Premises pursuant to Section 4 10 of the Master Lease, to the extent such amounts are not included as expenses payable pursuant to Section 5 thereof. 3.7 Additional Rent shall be adjusted as of the commencement and termination dates of this Sublease. In the event that the amount of Additional Rent due hereunder is not known prior to the termination date, a final adjustment shall be made between Subtenant and Sublandlord promptly after such amount is know. 3.8 Subtenant shall also be responsible for payment for all bills and charges with respect to all electricity, gas, telephone, water, sewer and other utilities that are used or consumed in the Subleased Premises, and not included in other charges to be paid pursuant to Section 3.3 or as contained elsewhere in this Sublease. All bills and charges therefor shall be paid by Subtenant directly to the appropriate authority responsible for collection thereof. 3.9 All other costs and expenses which Subtenant is required to pay under this Sublease, including without limitation costs for additional services or additional utilities supplied to the Subleased Premises by Sublandlord or Landlord, if any, together with all penalties that may accrue thereon in the event of the Subtenant's failure to pay such amounts and all reasonable actual out of pocket costs and expenses which Sublandlord may incur by reason of any failure of Subtenant to comply with the terms of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately deemed to account be Additional Rent when due and payable. Sublandlord shall have all rights and remedies with respect to such failure as Sublandlord has for the addition non-payment of the Expansion SpaceFixed Rent. 3.10 Subtenant shall pay to Sublandlord a late charge of one and one-half percent (iii1.5%) The Security Deposit per month, or any part thereof, on all amounts due to Sublandlord under this Sublease which are not paid when due and payable. However, no more often than once in each calendar year, the late charge will be increased by an amount equal to: (A) waived if Subtenant delivers its Exercise Notice prior to the first pays all such amounts within five (1st5) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of days after the date Subtenant delivers its Exercise Notice on which they became due and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ Base Rent for the Expansion Space, as, when and if the initial Security Deposit is reduced pursuant to Section 5(b) abovepayable.

Appears in 1 contract

Samples: Sublease Agreement (Matrixone Inc)

Rent. (i) The 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent rate(s) per rentable square foot and Additional Rent due for the Expansion Space Term (collectively referred to as “Rent”). “Additional Rent” means Tenant’s Pro Rata Share of Taxes and Expenses, and all other costs and amounts that Tenant is required to pay Landlord under this Lease. Base Rent and Tenant’s Pro Rata Share of Taxes and Expenses shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises due and payable in advance on the date first day of each calendar month without notice or demand; provided, however, that the term for the Expansion Space commences, and shall increase at such times and in such amount as installment of Base Rent for the initial Subleased Premisesfirst full calendar month of the Term shall be payable upon the execution of this Lease by Tenant. All other items of Rent shall be due and payable by Tenant on or before thirty (30) days after billing by Landlord. Rent shall be made payable to the entity, it being and sent to the intent of Sublandlord address, Landlord designates and Subtenant that the Base shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant when due hereunder, Tenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 Landlord an administration fee equal to three percent (3%) of this Subleasesuch amount, provided that Subtenant’s Percentage Share Tenant shall be increased appropriately entitled to account a grace period of up to five (5) days for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Base Rent for the Expansion Space). Any such additional Security Deposit will be subject to reduction to an amount equal to two (2) months’ late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at the lesser of (a) four percent (4%) per annum above the then-current Base Rate, and (b) the maximum rate permitted by applicable law, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Such interest and late charges are in addition to and shall not diminish or represent a substitute for any of Landlord’s rights or remedies under any other provision of this Lease. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the 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. Rent for any partial month during the Expansion Space, as, when Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and if the initial Security Deposit satisfaction. Tenant’s covenant to pay Rent is reduced pursuant to Section 5(b) aboveindependent of every other covenant in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Bridgeline Software, Inc.)

Rent. (i) 4.1 The Base Rent rate(s) per rentable square foot rent payable by Subtenant for the Expansion Space Sublease Premises shall be the same as consist of the Base Rent rate(s) per rentable square foot for under Section 4.2, the initial Subleased Premises on Pass Through Costs under Section 4.3 and the date the term for the Expansion Space commencesOther Charges under Section 4.4. Base Rent, Pass Through Costs, Other Charges and any other sums payable by Subtenant under this Sublease are collectively referred to as “Rent.” Subtenant’s covenant to pay Rent shall increase at such times and be independent of every other covenant in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) this Sublease. Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions make all payments due to Sublandlord pursuant to this Sublease at Sublandlord’s address set forth in Section 4 of this Sublease1.12 above, provided that Subtenant’s Percentage Share unless otherwise modified in writing by Sublandlord from time to time. Sublandlord shall be increased appropriately to account for the addition apply $75,000 of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior Prepaid Rent to the first (1st) anniversary of the Commencement Date, six (6) months’ Base Rent initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the Term as of the date Subtenant delivers its Exercise Notice and the denominator of which is forty-eight (48) (the “Fraction”). Subtenant will deliver such increased portion of the Security Deposit prior to Subtenant’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such increased portion of the Security Deposit will not postpone the commencement of Subtenant’s obligation to pay Rent in accordance with Section 1.15 of this Sublease. 4.2 Beginning on the Rent Commencement Date and continuing thereafter on the first day of each calendar month during the Sublease Term, Subtenant shall pay to Sublandlord in advance, and without notice, demand, deduction or offset (except as otherwise expressly provided herein), the monthly Base Rent. If the Rent Commencement Date is a day other than the first day of a calendar month, the Base Rent for the Expansion Space). Any such additional Security Deposit month in which the Rent Commencement Date occurs will be subject prorated, based on the actual number of days in the month after the Rent Commencement Date. Similarly, Base Rent for the month in which the Expiration Date occurs shall be prorated, base on the actual number of days in the month prior to reduction to the Expiration Date. 4.3 Commencing on the Commencement Date, and continuing throughout the Sublease Term, Subtenant also shall pay an amount equal to two Subtenant’s Share of all amounts payable by Sublandlord under Section 4 (2“Taxes”), Section 5 (“Operating Expenses”), and Section 6 (“Utilities”) under the Master Lease (collectively, “Pass Through Costs”). To the extent Pass Through Costs are payable on a monthly estimated basis, the Additional Rent with respect thereto shall be paid as and when Base Rent is due in an amount based on Master Landlord’s or Sublandlord’s estimates; and upon any reconciliation of estimated and actual Pass Through Costs, the corresponding Pass Through Costs shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement. For purposes of calculating Pass Through Costs, Sublandlord shall be entitled to rely conclusively on Master Landlord’s determination of estimated and actual Pass Through Costs and shall be under no obligation to audit or verify the same except as provided in Section 4.3.1 and Section 4.3.2 of this Sublease. 4.3.1 Notwithstanding anything to the contrary contained in this Sublease, Sublandlord, at Subtenant’s reasonable request, shall exercise its rights under the Master Lease, to audit and verify the determination of the Pass Through Costs, provided (i) Subtenant shall not issue more than one such request per calendar year of the Sublease term; (ii) Subtenant’s request shall be made not more than sixty (60) calendar days following delivery to Subtenant of any reconciliation statement; (iii) Subtenant shall not be in default at the time it issues such request to Sublandlord or at the time Sublandlord commences such audit; and (iv) Subtenant shall pay all out of pocket costs to third parties actually incurred by Sublandlord, plus a ten percent (10%) administrative fee. Notwithstanding anything to the contrary contained in this Sublease, to the extent that taxes and/or assessments are increased as a result of Subtenant’s Alterations (as defined in Section 10 below) or Sublandlord’s alterations to the Retained Space, Subtenant or Sublandlord, respectively, shall bear and pay 100% of such increase. 4.3.2 In the event Master Landlord’s annual statement of Pass Through Costs due by Sublandlord to Master Landlord under the Master Lease (including any later adjustment as the result of an audit of such costs) for any period after the Commencement Date discloses that Sublandlord has overpaid or underpaid Pass Through Costs for such period (and hence, Subtenant has materially overpaid or underpaid Pass Through Costs under this Sublease), then upon Subtenant’s written request Sublandlord shall contest, at Subtenant’s expense, the determination of any Pass Through Costs, in accordance with Sublandlord’s rights under the Master Lease, and such overpayment or underpayment shall be reconciled between Sublandlord and Subtenant hereunder in the same manner as between Master Landlord and Sublandlord under the Master Lease. Sublandlord shall deliver to Subtenant, as received, copies of all statements and estimates with respect to Pass Through Costs received from Master Landlord. 4.4 Throughout the Sublease Term, Subtenant also shall pay, within five (5) business days after written notice, any other fees, charges or other sums payable with respect to the Sublease Premises (collectively, “Other Charges”) for: (a) excess or after-hours utility consumption within the Sublease Premises; (b) excess, after-hours or supplemental heating, ventilating or air conditioning service supplied to the Sublease Premises; (c) services or benefits supplied to the Sublease Premises at Subtenant’s request (or with Subtenant’s acquiescence) for which Master Landlord reserves any right to impose a fee or charge separate from the Pass Through Costs; (d) to reimburse Master Landlord or Sublandlord for taxes on Subtenant’s Furniture and Equipment personal property, equipment and fixtures located in or about the Sublease Premises during the Sublease Term; (e) to pay for any damage to the Building resulting from the act or omission of Subtenant or Subtenant’s agents, employees or invitees, subject to the subrogation provisions of Section 8.2 herein; (f) damages recoverable due to a default under the Master Lease which are the result of any default or failure of performance by Subtenant under this Sublease; and (g) any other costs or expenses due from Subtenant to Sublandlord under this Sublease. 4.4.1 To the extent Subtenant exclusively uses a service or system such as after- hours HVAC, Subtenant shall pay the entire cost as a part of Other Charges. To the extent Sublandlord exclusively uses a service or system in the Retained Space such as after-hours HVAC, Sublandlord shall be responsible for the entire cost of such service or system without contribution by Subtenant. If both Sublandlord and Subtenant jointly utilize any service or system of the Building which results in Other Charges under Section 4.4(a) or (b), Subtenant and Sublandlord agree to equitably apportion such Other Charges between Sublandlord and Subtenant based upon Sublandlord’s good faith estimate of a fair allocation, which estimate shall be subject to review by Subtenant in the manner provided in Section 5.4 (b) of the Master Lease. 4.5 All Rent shall be paid to Sublandlord or to such other person or such other place as Sublandlord may from time to time designate in writing. If Subtenant fails to pay any Rent on or before the fifth (5th) day after such Rent is due, the unpaid amounts shall bear interest for the benefit of Sublandlord at the lesser of 12% per annum or the maximum rate permitted by law ( “Default Rate”), from the date such Rent is due to the date of payment. In addition to such interest, Tenant shall pay to Landlord a late charge in an amount equal to ten percent (10%) of any installment of Rent due Sublandlord if Rent is not paid by the fifth (5th) day after such Rent is due and more than one default in the payment of Rent has occurred in the preceding twelve (12) months’ Base . Subtenant acknowledges that late payment by Subtenant to Sublandlord of Rent for will cause Sublandlord to incur costs not contemplated by this Sublease. Sublandlord further acknowledges that it is extremely difficult and impractical to fix the Expansion Spaceexact amount of such costs sand that the late charge set forth in this Section 4.5 represents a fair and reasonable estimate thereof. Sublandlord’s acceptance of any late charge shall not constitute a waiver of Subtenant’s default with respect to overdue Rent, asnor shall such acceptance prevent Sublandlord from exercising any of its other available rights and remedies. Sublandlord’s acceptance of Rent shall not constitute a waiver of late charges or interest accrued with respect to such Rent or other payments or any prior installments thereof, when nor of any other defaults by Subtenant, whether monetary or non-monetary in nature, remaining uncured at the time of such acceptance of Rent or other payments. 4.6 In the event of any casualty or condemnation affecting the Sublease Premises, Rent payable by Subtenant shall be proportionately abated, but only as to the portion of the Sublease Premises damaged or taken and if only to the initial Security Deposit extent that Rent payable by Sublandlord is abated or reduced pursuant with respect to Section 5(b) abovesuch portion of the Sublease Premises.

Appears in 1 contract

Samples: Sublease (Aradigm Corp)

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