Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord.
Appears in 2 contracts
Sources: Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals, Inc.), Assignment, Assumption, Amendment and Consent (Paratek Pharmaceuticals Inc)
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent (as hereinafter defined) due for the Term (collectively referred to as “Fixed Rent”) payable by ). Base Rent shall commence on the Tenant during Commencement Date, subject to the original Term Base Rent Abatement Periods. Anything herein to the contrary notwithstanding, an amount equal to the first full monthly installment of Base Rent, which shall be applied toward the annual rent seventh (7th) month of Two Hundred Eleven Thousand Eight Hundred Thirty Five the Term, plus any fraction of a monthly payment for any portion of a month at the commencement of the Term, shall be due and 52/100 payable together with the Security Deposit ($211,835.52as defined herein) Dollars upon the execution hereof. Landlord’s receipt of the foregoing payments shall be a condition precedent to the effectiveness of this Lease. All Additional Rent shall commence on the Commencement Date except as expressly provided otherwise. “Additional Rent” means all sums ($14.04 per square foot exclusive of rentable floor areaBase Rent) payable in equal monthly installments of $17,652.96. Tenant’s obligations that Tenant is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand. Unless otherwise specified herein to the contrary, all other items of Rent shall be due and every month during payable by Tenant on or before thirty (30) days after billing by Landlord. Rent shall be made payable to the Term entity, and any extension sent to the address, Landlord otherwise designates and shall be made by good and sufficient check drawn on a local bank or renewal thereofby other means acceptable to Landlord. Fixed Tenant shall pay Landlord an administration fee equal to five percent (5%) of all past due Rent, provided that Tenant shall be entitled to a grace period of five (5) days for the first two (2) late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 2 contracts
Sources: Office Lease Agreement, Office Lease Agreement (Loxo Oncology, Inc.)
Rent. (a) The fixed rent (hereinafter Tenant shall pay to the Landlord as Base Rent, in legal tender, at the Landlord’s office as set forth in Exhibit “Fixed RentB”) payable , or as directed from time to time by the Tenant during the original Term shall be Landlord’s notice, the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) amount set forth in Exhibit “B” payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin payments as set forth in Exhibit “B” promptly on the Term Commencement Date. Tenant shall deposit first day of every calendar month of the term, except for the first month’s rent with Landlord upon which is due and payable on execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under of this Lease, and pro rata, in advance for any partial month, without demand, the same being hereby waived and without any abatementset-off or deduction whatsoever. For any rent payment not made when due, Tenant shall pay — except as otherwise provided for herein — a late charge equal to the greater of: i) $100.00 or ii) ten percent (10%) of the overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of such late payment. The covenants herein to pay a late charge shall be independent of any other covenant set forth in this Lease and shall be paid without deduction or setoffset-off.
(b) It is understood that the Base Rent specified in Paragraph (a) was negotiated in anticipation that the amount of Operating Expenses on the Property would not exceed $271,970.00 during any calendar year of the term hereof. Therefore, all sums, impositions, in order that the rental payable throughout the term of the Lease shall reflect any increase in such costs, the parties agree as hereinafter in this Section set forth. The annual Base Rent payable pursuant to Paragraph (a) as increased pursuant to Paragraph (b) of this Section is hereinafter called the “Rent”. Certain terms are defined as follows: Tenant’s Share: The amount of Tenant’s pro rata share of the increase in Taxes and Operating Expenses over $271,970.00 during each calendar year. Tenant’s pro rata share of such increase is agreed to be 10%.
(A) Operating Expenses shall consist of all expenses, costs and disbursements (but not specific costs billed to specific tenants of the Property) of every kind and nature, computed on the accrual basis, relating to or incurred or paid in connection with the ownership and operation of the Property, including but not limited to, the following:
(i) wages and salaries of all on and off-site employees engaged in the operation, maintenance or access control of the Property, including taxes, insurance and benefits relating to such employees, allocated based upon the time such employees are engaged directly in providing such services;
(ii) all supplies, tools, equipment and materials used in the operation and maintenance of the Property;
(iii) cost of all utilities for the Property including but not limited to the cost of water and power for heating, lighting, air conditioning and ventilating in the common areas;
(iv) cost of all maintenance and service agreements for the Property and the equipment therein, including but not limited to security service, garage operators, window cleaning, elevator maintenance, janitorial service and landscaping maintenance;
(v) cost of management, not to exceed five per cent (5%), of actual base rent received;
(vi) cost of repairs and general maintenance of the Property (excluding repairs, alterations and general maintenance paid by proceeds of insurance or attributable solely to tenants of the Property other than Tenant);
(vii) amortization (together with reasonable financing charges) of the cost of installation of capital investment items which are installed for the purpose of reducing operating expenses, promoting safety, complying with governmental requirements or maintaining the first class nature of the Property, other than capital items installed in connection with Lessor’s initial construction of the Property;
(viii) the cost of all insurance on the Property, including, but not limited to, the cost of casualty, rental abatement and liability insurance applicable to the Property and Lessor’s personal property used in connection therewith; and
(ix) all taxes, assessments and governmental charges, whether or not directly paid by Lessor, whether federal, state, county or municipal and whether they be by taxing districts or authorities presently taxing the Property or by other subsequently created or otherwise, and any other taxes and assessments attributable to the Property or its operation, excluding, however, federal and state taxes on income, death taxes, franchise taxes, and any taxes imposed or measured on or by the income of Lessor from the operation of the Property or imposed in connection with any change of ownership of the Property; provided, however, that if at any time during the term of this Lease, the present method of taxation or assessment shall be so changed that the whole or any part of the taxes, assessments, levies, impositions or charges now levied, assessed or imposed on real estate and the improvements thereof shall be discontinued and as a substitute therefor, or in lieu of an addition thereto, taxes, assessments, levies, impositions or charges shall be levied, assessed and/or imposed wholly or partially as a capital levy or otherwise on the rents received from the Property or the rents reserved herein or any part thereof, then such substitute or additional taxes, assessments, levies, impositions or charges, to the extent so levied, assessed or imposed, shall be deemed to be included within the operating expenses to the extent that such substitute or additional tax would be payable if the Property were the only property of the Lessor subject to such tax.
(B) In order to provide for current payments on account of an increase in the annual Operating Expenses in excess of $271,970.00, the Tenant agrees, at Landlord’s request, to pay, as additional rent, Tenant’s Share due for the ensuing twelve (12) months, as estimated by Landlord from time to time, in twelve (12) monthly installments, each in an amount equal to 1/12th of Tenant’s Share so estimated by Landlord commencing on the first day of the month following the month, in which Landlord notifies Tenant of the amount of such estimated Tenant’s Share. If, as finally determined, Tenant’s Share shall be greater than or be less than the aggregate of all installments so paid on account to the Landlord for such twelve (12) month period, then Tenant shall pay to Landlord the amount of such underpayment, or the Landlord shall credit Tenant for the amount of such overpayment, as the case may be. It is the intention hereunder to estimate the amount of Operating Expenses for each year and then to adjust such estimate in the following year based on actual Operating Expenses incurred and/or paid by Landlord. The obligation of the Tenant with respect to the payment of Rent shall survive the termination of this Lease. Any payment, refund, or credit made pursuant to this Paragraph (b) shall be made without prejudice to any right of the Tenant to dispute the statement under Paragraph (d) of this Section, or of the Landlord to correct, any item(s) as billed pursuant to the provisions hereof. If the term remaining is less than a full calendar year, then Tenant shall only owe the increase in the Operating Expenses for the full year appropriately adjusted for the period remaining in the Tenant’s Term.
(C) Upon receipt of the Landlord’s statement, Tenant does hereby covenant and agree promptly to pay the increases in Rent pursuant to Paragraph (b) of this Section as and when the same shall become due and payable, without further demand therefore, and without any set-off or deduction whatsoever. Failure to give such statement shall not constitute a waiver by Landlord of its right to require an increase in Rent pursuant to the provisions hereof.
(D) Within thirty (30) days after receipt of such statement, Tenant or its authorized employee shall have the right to inspect the books of Landlord at reasonable times during the business hours of Landlord at Landlord’s office in the Building or, at Landlord’s option, at such other payments location that Landlord may specify, for the purpose of verifying information in such statement. Unless Tenant asserts specific errors within thirty (30) days after delivery of such statement, the statement shall be deemed to be correct. Such inspection or audit shall be conducted by Tenant or tenant’s employee or Tenant’s auditor; but in no event shall the audit be conducted by a third party whose compensation is contingent upon the results of such audit or the amount of any refund received by Tenant. Tenant hereby agrees to keep the results of any such audit confidential and to require Tenant’s auditor and its employees and each of their respective attorneys and advisors to likewise keep the results of such audit in strictest confidence. In particular, but without limitation, Tenant agrees that: (i) Tenant shall not disclose the results of any such audit to any past, current, or prospective tenant of the Property, and (ii) Tenant shall require, that its auditors, attorneys and anyone associated with such parties shall not disclose the results of such audit to any past, current or prospective tenant in the Property; provided, however, that Landlord hereby agrees that nothing in items (i) or (ii) above shall preclude Tenant from disclosing the results of such audit in any judicial proceeding, or pursuant to any court order or discovery request, or to any agent, representative, or employee or Landlord who or which request the same.
(E) No decrease in Operating Expenses shall reduce Tenant’s Rent below the annual Base Rent set forth in Paragraph (a) of this Section.
(F) All costs and expenses which Tenant in any of the provisions of this Lease assume assumes or agrees to pay, pay to Landlord pursuant to this Lease shall be deemed additional rent and, in case the event of any nonpayment non-payment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or herein provided for in the Lease for the nonpayment case of Fixed non-payment of Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord.
Appears in 2 contracts
Sources: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)
Rent. The fixed A. Total rent (hereinafter for the aforesaid premises is $ . LESSEES agree to pay $ as their share of the total rent in payments of $ _ due monthly beginning _ / /20 and ending / /20 , or as otherwise set forth herein in the “Fixed Rent”) payable Special Provisions,” which is attached herewith and included by reference. A late charge of 10% of the total outstanding balance due + $2 per day shall be added to the payments due and not received in the office of LESSOR by the Tenant during end of the original Term 5th day of the month; unpaid late fees, damages, and utility bills shall be the annual considered additional rent due. Any withholding of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent rent by LESSEE when due, unless authorized by Statute, shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, be deemed to be held as advance a breach of this Lease. Upon breach of any term of this lease, all future lease payments are accelerated and become immediately due and owing. LESSEE understands that all rent due by original move-in date must be paid before early move-in. Return check fee is 10% of check amount or $35, whichever is greater. Payment for damages and utility bills shall become due and payable 15 days after notice is sent by LESSOR. Any rental and security to be forfeited, without limitation payments made by the LESSEE(s) or other remedies, for any default by Tenant occurring prior on behalf of the LESSEE(s) pursuant to the Term Commencement DateLease shall not be refundable regardless of circumstances.
B. All payments due pursuant to this lease SHALL be made online via the tenant portal with either a recurrent payment setup option or monthly as specified in the lease instrument.
▇. If no default occurs▇▇▇▇▇▇ is not affiliated with Illinois State University, Illinois Wesleyan, or Heartland Community College and the payment suspension of classes, withdrawal, or dismissal from the University shall not terminate the obligation of LESSEE hereunder and LESSEE shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease liable for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordaforesaid rents.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Rent. The fixed rent 4.1 Tenant hereby agrees to pay Landlord the Base Rent. For purposes of Rent adjustment under the Lease, the number of months is measured from the first day of the calendar month in which the Commencement Date falls. Each monthly installment (hereinafter the “Fixed Monthly Rent”) shall be payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin check or by money order on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each calendar month. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and every month during the Term Taxes, and any extension and all other sums of money as shall become due and payable by Tenant to Landlord as set forth in this Lease, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or renewal thereofany other items of Rent that are not paid by Tenant. Fixed The Base Rent, the Monthly Rent for any partial month and the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be prorated. paid when due in lawful money of the United States without demand, deduction, abatement, or offset (except as otherwise expressly provided in this Lease) to the addresses for the rental payment set forth in the Basic Lease Information, or as Landlord may designate from time to time.
4.2 In the event any Fixed Rent, additional rent Monthly or any Additional Rent or other payments are amount payable by Tenant to Landlord hereunder is not paid within ten five (105) days of the after its due date thereofdate, Tenant shall be charged pay to Landlord a one-time late fee charge (the “Late Charge”), as Additional Rent, in an amount of 1.5% five percent (5%) of the amount of such late payment for each late payment for each month or portion thereof that said payment remains outstandingpayment. Said late fee Failure to pay any Late Charge shall be payable deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord’s remedies in exclusion any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of additional remedies herein provided Landlord’s right to Landlordcharge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the foregoing provisions of this Section 4.2, the Late Charge shall not be imposed with respect to the first late payment in the twelve (12) months following the Commencement Date or with respect to the first late payment in any succeeding twelve (12) month period during the Term unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such applicable twelve (12) month period which is not received within five (5) days after its due date.
Appears in 2 contracts
Sources: Lease Agreement (Adicet Bio, Inc.), Lease Agreement (resTORbio, Inc.)
Rent. The fixed rent Tenant shall pay all Base Rent and Additional Rent (hereinafter defined below) (collectively, “Fixed Rent”) payable by to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction (except as otherwise provided herein), at the place Landlord may designate from time to time, in money of the United States of America that, at the time of payment, is legal tender for the payment of all obligations. As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant during the original Term is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of Additional Rent for Expenses (defined in Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (collectively, “Monthly Rent”) shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due paid in advance without demand, deduction on or set-off on before the first day of each and every calendar month during the Term Term; provided, however, that the installment of Base Rent for the first full calendar month for which Base Rent is payable hereunder shall be paid upon Tenant’s execution and any extension or renewal thereofdelivery hereof. Fixed Except as otherwise provided herein, all other items of Additional Rent shall be paid within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be proratedprorated based on the actual number of days in such month. In Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the event overdue amount (provided, however, that such late charge shall not apply to any Fixed Rentsuch delinquency unless either (i) such delinquency is not cured within five (5) business days after notice from Landlord, additional rent or (ii) Tenant previously received notice from Landlord of a delinquency that occurred earlier in the same calendar year); and (b) any other payments are Rent that is not paid within ten (10) 10 days of the after its due date thereofshall bear interest, Tenant shall be charged a late fee from its due date until paid, at the lesser of 1.518% per annum or the highest rate permitted by Law (defined in Section 5). Tenant’s covenant to pay Rent is independent of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordevery other covenant herein.
Appears in 2 contracts
Sources: Office Lease (Apigee Corp), Office Lease (Apigee Corp)
Rent. The fixed rent (a) Each Lease Year (as hereinafter “Fixed defined), Tenant shall pay to Landlord Base Rent”) payable by the Tenant during the original Term shall be the annual rent , without setoff or deductions of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 any kind ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable except as otherwise set forth in this Lease), in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, andinstallments, in case of any nonpayment thereofadvance, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every calendar month during of the Term and any extension at the address of Landlord stated above or renewal thereof. Fixed Rent such other place as Landlord may designate in writing from time to time, with payment in advance of appropriate fractions of a monthly payment for any partial portion of a month at the commencement and termination of the Term. Every amount payable by Tenant to Landlord hereunder shall (except as otherwise set forth in this Lease) be proratedpaid without setoff or deductions of any kind on demand. In the event any Fixed Base Rent and Additional Rent are herein collectively called “Rent, additional rent or any other payments are ”. Any Rent not paid by Tenant within ten (10) days after its due date shall thereafter be payable with a late charge equal to five (5%) percent of the due date thereofunpaid rent installment, as Additional Rent.
(b) Tenant’s obligation to pay Base Rent under this Lease shall commence on the Rent Commencement Date.
(c) The obligation of Tenant to pay all sums of Additional Rent shall commence on the Commencement Date of the Lease and there shall be charged no abatement whatsoever of the obligation of Tenant to pay such sums during any period or part of any lease year during the term of the Lease.
(d) The term “Lease Year” shall mean a late fee period of 1.5% twelve (12) consecutive calendar months. The first “Lease Year” shall commence on the Commencement Date, and shall end with the expiration of such late payment for the next succeeding twelve (12) months, plus the number of days, if any, required to have the period end at the expiration of the calendar month, and each late payment for each month or portion thereof that said payment remains outstanding. Said late fee Lease Year shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordrun consecutively thereafter.
Appears in 2 contracts
Sources: Lease (Surgiquest Inc), Lease (Surgiquest Inc)
Rent. The fixed rent (hereinafter “Fixed ▇▇▇▇▇▇ agrees to pay to Landlord, without demand, deduction, setoff, counterclaim or offset, Rent for the Term. Tenant shall pay the Monthly Base Rent”) payable , in advance, by the Tenant first (1st) day of each calendar month during the original Term Term, at Landlord’s address designated in Section 1 above unless Landlord designates, in writing, otherwise. If the Commencement Date is not the first day of the month, the Monthly Base Rent for that partial month shall be apportioned on a per diem basis and shall be paid on or before the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit pay Landlord a service and handling charge equal to 5% of any Rent not paid within five (5) days after the first month’s rent with Landlord upon execution hereofdate due. In addition, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior Rent not paid within five (5) days after the due date will bear interest at the Interest Rate from the date due to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunderdate paid. Tenant shall also pay as additional rent without noticebefore delinquent all taxes levied or assessed upon, except as required measured by, or arising from: (a) the conduct of Tenant’s business; (b) Tenant’s leasehold estate; (c) Tenant’s property; or (d) amounts payable by Tenant under this Lease, and without any abatementincluding all sales, deduction use, transaction privilege, or setoffother excise tax. Monthly Base Rent plus Tenant’s reimbursement for Operating Expenses shall comprise all of Tenant’s monetary obligations under this Lease. This Lease is a Net Lease. Monthly Base Rent shall be paid to Landlord absolutely net of all Operating Expenses, all sums, impositions, costs, expenses and other payments which Tenant in any of subject to the provisions of this Lease assume or agrees Lease. The provision for Tenant’s payment of Operating Expenses is intended to pay, and, in case of any nonpayment thereof, pass on to Tenant and reimburse Landlord shall have in addition to any other rights and remedies, for all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to LandlordOperating Expenses.
Appears in 2 contracts
Sources: Lease (JFrog LTD), Lease Agreement (JFrog LTD)
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums (exclusive of Base Rent) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the fourth (subject to Tenant’s right to receive Abated Base Rent pursuant to Section 1.03 of this Lease) full calendar month of the Term, and every month during the Term first monthly installment of Additional Rent for Expenses and any extension Taxes, 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 renewal thereof{QuinStreet, Inc. -6-00004264.} May 30, 2003 Matter ID Number: 7329 before 30 days after billing by Landlord. Fixed 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, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate per annum equal to the Bank of America “prime rate”, as the same may be announced from time to time, plus two percent (2%). Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 2 contracts
Sources: Office Lease Agreement (Quinstreet, Inc), Office Lease Agreement (Quinstreet, Inc)
Rent. The fixed rent 4.01 From and after the Commencement Date, Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums (exclusive of Base Rent) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand. All other items of Rent shall be due and every payable by Tenant on or before thirty (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 payable in United States of America currency or by other means designated by Landlord from time to time. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $500.00, provided that Tenant shall be entitled to a grace period of up to five (5) days for the first late payment of Rent in a calendar year; provided, however, Landlord shall waive the administration fee for one (1) late payment in any twelve (12) month period during the Term Term. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum, and Tenant shall pay Landlord a reasonable fee for any extension checks returned by Tenant’s bank for any reason. Nothing in this paragraph shall be deemed to waive or renewal thereofcondition any claim of Default by Landlord for Tenant’s failure to timely pay Rent, which is governed by Section 18, below. Fixed 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 Term shall be prorated. In No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s obligation so to pay Rent under the event Lease shall be absolute, unconditional, and independent and shall not be discharged or otherwise affected by any Fixed Rentlaw or regulation now or hereafter applicable to the Premises, additional rent or any other payments are not paid within ten (10) days restriction on Tenant’s use, or, except as expressly provided in the Lease, any casualty or taking, or any failure by Landlord to perform or other occurrence; and Tenant waives all rights now or hereafter existing to assert any defense in the nature of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition constructive eviction to and not in exclusion of additional remedies herein provided any action seeking to Landlordrecover Rent.
Appears in 2 contracts
Sources: Office Lease Agreement, Office Lease Agreement (scPharmaceuticals Inc.)
Rent. The fixed rent (hereinafter “Fixed Rent”a) payable Tenant shall pay to Landlord Adjusted Rental, which is the sum of the monthly Basic Rental, the monthly Excess Operating Expenses and the monthly Excess Taxes (as defined in the Basic Lease Information), as estimated by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable Landlord from time to time, in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin in advance on the Term Commencement Date. Tenant first day of each month in lawful money of the United States to Landlord at its address set forth above (or such other address as Landlord shall deposit the first month’s rent with Landlord upon execution hereof, designate in writing to be held as advance rental and security to be forfeited, Tenant) without limitation notice or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, demand and without any abatement, deduction or setoffset-off, all sums, impositions, costs, expenses and other payments which Tenant in any for each month of the provisions entire Term, except as expressly set forth herein. One such monthly installment, shall be payable by Tenant to Landlord upon the execution of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord Lease. A like monthly installment shall have in addition to any other rights be due and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance payable without demand, deduction or set-off demand beginning on the first day of the calendar month immediately following the month in which the Commencement Date occurs and continuing thereafter on or before the first day of each and every succeeding calendar month during the Term and any extension or renewal thereofLease Term. Fixed Rent for any fractional month at the beginning of the Lease Term shall be prorated based on one-three hundred sixty-fifth (1/365) of the current annual Basic Rental for each day of the partial month this Lease is in effect, and shall be prorateddue and payable on or before the first day of the calendar month immediately following the month in which the Commencement Date occurs.
(b) During the Term of this Lease, the Basic Rental shall be increased at the beginning of each lease year as shown in the Basic Lease Terms above. In The dates described in this Section for computing the event adjustment in Basic Rental are hereinafter sometimes referred to collectively as “Rental Adjustment Dates” and singularly as a “Rental Adjustment Date”. After each Rental Adjustment Date, the rent as increased shall be deemed the Basic Rental for all purposes of this Lease.
(c) If all of any Fixed Rentsum due under this Lease is not received within five (5) days after written notice from Landlord that it is due, additional rent or any other payments are not paid within then Tenant, to the extent permitted by law, shall pay, in addition to the sum owed, a late payment charge equal to ten percent (10%) days of the sum (or portion thereof) which is overdue. If a check remitted to pay any sum due to Landlord hereunder shall not be honored upon presentment for payment, then Tenant in addition to the amount owed, shall pay to Landlord on demand a fee of ten percent (10%) of the amount owed. Following the dishonor of any check presented for payment, Landlord may require all further payments to be made hereunder to be made by certified check or money order. Also, if Landlord does not receive any Adjusted Rental or fails to pay any sum (other than Adjusted Rental) which at any time becomes due to Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereofthereof until paid at a eighteen percent (18%) annual rate (the “Past Due Rate”). All late payment charges and fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late or dishonored payments. Provision for such late charge, Tenant interest or fee for dishonor shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to all other rights and remedies available to Landlord hereunder or at law or in equity and shall not be construed as liquidated damages or limiting Landlord’s remedies in exclusion any manner and shall not excuse or cure the default in payment.
(d) Tenant’s covenants and obligations to pay Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of additional remedies herein provided to Landlordany other covenant or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.
Appears in 2 contracts
Sources: Office Building Lease Agreement (Vivint Solar, Inc.), Office Building Lease Agreement (Vivint Solar, Inc.)
Rent. The fixed (a) Commencing on the date that is one hundred twenty (120) days after the Sublease Commencement Date (“ Rent Commencement Date ”), Subtenant shall, without deduction, demand, notice from Sublandlord, or right of offset, pay to Sublandlord for each month during the Sublease Term as annual basic rent (hereinafter “Fixed Rent“ Basic Rent ”) payable by in the Tenant amount set forth in the following table: Rent Commencement Date through first day of calendar month following calendar month in which anniversary of Rent Commencement Date occurs (such period, “First Lease Year”) $ 13,306.88 12- month period following expiration of First Lease Year (“Second Lease Year”) $ 13,706.08 the period following Second Lease Year through Sublease Expiration Date $ 14,117.26 All payments of Basic Rent shall be made in lawful money of the United States, in advance on the first (1 st ) day of each calendar month during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit Sublease Term, the first month’s rent with Landlord upon execution hereof, payment of Basic Rent to be held made as advance rental of the date this Sublease is executed and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to against the first monthly installment Basic Rent due hereunder. Tenant Payments in respect of a period less than a full calendar month shall also be prorated based on the actual number of days in such month during the Sublease Term.
(b) Commencing on November 1, 2010 and continuing through the Sublease Term, in addition to payment of the Basic Rent, Subtenant shall pay to Sublandlord, as to each calendar year or portion thereof during the Sublease Term, as additional rent (“ Passthrough Rent ”), without noticededuction, except demand, notice from Sublandlord, or right of offset, (i) Subtenant’s Percentage Share (as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any hereafter defined) of the provisions amount by which Operating Expenses (as defined in the Lease) for such calendar year exceed Operating Expenses in calendar year 2010 (“ Subtenant’s Expense Payment ”) and (ii) Subtenant’s Percentage Share of this Lease assume the amount by which Tax Expenses (as defined in the Lease) for such calendar year exceed the Tax Expenses in calendar year 2010 (“ Subtenant’s Tax Payment ”). As used herein, “ Subtenant’s Percentage Share ” shall mean Four and 85/100 percent (4.85%) (7,097 divided by 146,189). At Subtenant’s request, Sublandlord shall deliver to Subtenant any statements, invoices, or agrees other materials delivered to pay, and, in case Sublandlord by or at the direction of any nonpayment thereof, Landlord with respect to the Passthrough Rent. Subtenant shall have in addition no right to dispute the Operating Expenses and Tax Expenses once the same is agreed upon by or adjudicated, pursuant to any other rights and remedies, all of the rights and remedies provided by law or provided for dispute mechanism is set forth in the Lease for or applicable at law, by Sublandlord and Landlord. The obligations to make payments hereunder, which obligations arise during and relate to the nonpayment period prior to termination or expiration of Fixed Rent. All Fixed Rent payments are due in advance without demandthis Sublease, deduction shall survive the termination or set-off on the first day expiration of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordthis Sublease.
Appears in 2 contracts
Sources: Sublease Agreement (Northwest Biotherapeutics Inc), Sublease Agreement (Northwest Biotherapeutics Inc)
Rent. Resident shall pay monthly rent and other charges in the following amounts: MONTHLY PREMISES RENT 3250 MONTHLY PARKING SPACE RENT MONTHLY STORAGE LOCKER RENT 0 OTHER MONTHLY CHARGES (SPECIFY) TOTAL RENT 3250 The fixed rent (hereinafter “Fixed Rent”) total amount set forth above is payable in advance by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first 1st day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rentsaid term to Owner at ▇▇ ▇▇▇ ▇▇▇, additional rent ▇▇▇▇▇▇ ▇▇▇▇▇▇ , ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ , or any such other payments are not paid within ten (10) days of place that the Owner may from time to time designate. Any rent unpaid by the due date thereofis termed delinquent. Owner may, Tenant at Owner’s option, apply funds received from Resident to balances due in the following order: damage, repairs, unpaid utilities, late payment charges, notice fees, miscellaneous charges such as parking or storage rental, and past due rent, and current rent. Rent received on or after the 5th day of each month shall result in assessment against Resident of a $25 late payment charge plus $ 10 each additional day thereafter that rent has not been paid in full, which shall be charged a late fee of 1.5% of such considered to be additional rent and must be paid at the time the delinquent rent is paid. Any check which fails to clear the bank shall be treated as unpaid rent and shall be subject to the aforementioned late payment charge, plus a $ 35 returned check fee. Should Resident submit a check that is dishonored or returned for each insufficient funds, or should Resident offer payment to cure any default such as following receipt of a Pay or Vacate Notice, Resident shall make such payment by cash, cashier’s check or money order. If Resident gives Owner two checks that are returned for non-payment, all future payments by Resident shall be made by cash, cashier’s check or money order. Notwithstanding the foregoing, Owner may issue a Three Day Notice to Pay Rent or Vacate immediately after the rental due date without waiting until late payment charges begin to accrue. If for each month reason of non-payment of rent Owner shall give a statutory Three (3) Day Notice to Pay rent or portion thereof that said payment remains outstandingVacate, or if Owner shall lawfully issue any other notice permitted pursuant to RCW 59.12 et seq. Said late fee shall be payable or RCW 59.18 et seq., Resident agrees to pay in addition to the delinquent rent and not in exclusion late payment charges provided for above, the sum of additional remedies herein provided to Landlord$ 55 for preparing and giving the notice, which shall be paid by the deadline for compliance with the Notice.
Appears in 1 contract
Sources: Apartment Lease/Rental Agreement
Rent. The fixed Tenant agrees to pay the Landlord herein, without offset or deduction, for the account of Landlord rent for the demised premises at the rate of See Rent Schedule, Special Conditions, Paragraph 32 B attached hereto Dollars (hereinafter “Fixed Rent”$ ) payable by the Tenant during the original Term per month in advance. One such monthly installment shall be due and payable on or before the annual rent beginning date of Two Hundred Eleven Thousand Eight Hundred Thirty Five this lease, and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal a like monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment installment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction payable on or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every succeeding calendar month during the Term term hereof; provided that, in the event the term hereof shall commence or end during a calendar month, the rent for any fractional calendar month following the commencement or preceding the end of the term of this lease shall be pro rated by days. (If percentage rent is to be payable to Landlord, refer to Exhibit A attached to this lease, In such case Exhibit A shall be incorporated into and become a part of this lease when physically attached hereto.) Tenant will deposit with Landlord, upon commencement of this lease, Twenty nine thousand seven hundred and 00/100 Dollars ($29,700.00) to be applied as follows:
(a) $14,175.00 for base rent for December 1, 1997 through December 31, 1997.
(b) $15,525.00 as a security deposit. Such security deposit shall be held by Landlord without interest as security for the performance by 2 Tenant of Tenant's covenants and obligations under this . The security deposit is not an advance payment of rental the full measure of liquidated damages in case of default by Tenant. Upon the occurrence of any event of default, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use the security deposit to the extent necessary to make good any arrears of rent and any extension other damage, injury, expense or renewal thereofliability caused to Landlord by such event of default. Fixed Rent for Following any partial month such application of the security deposit. Tenant shall pay to Landlord, on demand, the amount so applied in order to restore the security deposit to its original amount. If Tenant is not in default, hereunder, any remaining balance of such deposit shall be prorated. In the event any Fixed Rent, additional rent returned by Landlord to Tenant upon expiration or any other payments are not paid within ten (10) days termination of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordthis lease.
Appears in 1 contract
Sources: Net Commercial Lease Agreement (Murray Income Properties Ii LTD)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by 5.1 Minimum Annual Rent shall accrue hereunder from the Tenant during the original Term Rent Commencement Date, and shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable to Landlord at Landlord’s address.
5.2 Tenant agrees to pay Minimum Annual Rent in equal monthly installments of $17,652.96. Tenant’s obligations equal to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any one- twelfth of the provisions of this Lease assume amount specified in Section 1.1 (i) or agrees to paySection 4.1(b), and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rentif applicable. All Fixed Rent payments are due in advance without demand, deduction on or set-off on before the first day of the each and every month during calendar month; provided that if the Term and any extension or renewal thereof. Fixed Rent Commencement Date is other than the first day of a calendar month, the Minimum Annual Rent for any partial that month shall be proratedprorated and due on the Rent Commencement Date. All payments of rent shall be payable without prior notice or demand at the office of Landlord to which notices are to be delivered (as set forth below), or at such other place as Landlord shall by written notice specify.
5.3 All Minimum Annual Rent and all additional rent and any other payments due from Tenant to Landlord under this Lease are due and payable without offset or deduction of any nature.
5.4 In the event any Fixed Rent, additional rent payment due from Tenant to Landlord under this Lease is not received by Landlord within five (5) business days after its due date for any reason whatsoever Tenant shall pay to Landlord a late payment processing fee in an amount equal to the greater of Two Hundred Fifty Dollars ($250.00) or any other payments are not paid within ten five percent (105%) days of the amount otherwise due date thereofin order to reimburse Landlord for the additional costs of service and processing. Additionally, Tenant shall be charged a late fee upon T▇▇▇▇▇ receiving written notice from Landlord stating the base amount of 1.5% past due rent, any unpaid sum of such late payment for each late payment for each month or portion thereof that said payment remains outstandingpast due rent shall bear interest from the fifth (5th) business day after the date when due until the date when paid at a rate equal to twelve (12%) percent per annum. Said late fee Such processing fees and interest shall be payable in addition to as additional rent and not in exclusion shall be immediately due and payable without the necessity of additional remedies herein provided to Landlorddemand by Landlord and without offset or deduction of any nature.
Appears in 1 contract
Sources: Lease Agreement (LifeMD, Inc.)
Rent. The fixed rent (hereinafter “Fixed a) Tenant shall pay to Landlord without notice or demand or set- off, in lawful money of the United States of America at the office of Landlord or at such other place as Landlord may designate, Rent as follows:
(i) Basic Rent”) payable by the Tenant during the original Term , which shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal advance in monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin beginning on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental Date and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off continuing on the first day of each and every calendar month thereafter during the Term and any extension or renewal thereof. Fixed Rent for any partial month Term; and
(ii) Additional Rent, which shall be prorated. In payable within the event time limitations elsewhere provided in this Lease, or if no such time limit is elsewhere provided, within fifteen (15) days notice from Landlord to Tenant as to the amount due and payable.
(b) Notwithstanding and not to the exclusion of any Fixed Rentother remedies for Tenant's default, additional rent if any installment of Basic Rent or of Additional Rent payable under Paragraph 6(c) remains unpaid for a period of 5 days after such installment shall have become due or any payment of Additional Rent (other payments are not paid within ten than that payable under Paragraph 6(c)) remains unpaid for a period of fifteen (1015) days of the due date thereofafter such installment or payment shall have become due, Tenant shall be charged pay interest thereon at a late fee rate equal to the lesser of 1.52% per annum above the prime rate as announced by NationsBank of North Carolina, N.A., or its successors, or the maximum contractual rate permitted by applicable North Carolina law, from the date on which such late installment or payment for each late is due to the date of payment for each month or portion thereof that said payment remains outstandingthereof. Said late fee Such interest shall be deemed Additional Rent. If the Commencement Date shall occur on a day other than the first day of a calendar month, the monthly installment of Basic Rent and any monthly installment of Additional Rent payable under Paragraph 60c for the unexpired portion of the month in addition to and not which the Commencement Date occurs shall be prorated on the basis of the actual number of calendar days in exclusion of additional remedies herein provided to Landlordsuch month.
Appears in 1 contract
Sources: Lease Agreement (On Technology Corp)
Rent. The Tenant agrees and covenants to pay Landlord an annual fixed rent in the amount of $312,000.00 per year (hereinafter “Fixed Base Rent”) payable by ), commencing on the Tenant during the original Term Commencement Date. Base Rent shall be payable in advance, without demand, on the annual rent first day of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable each calendar month in equal monthly installments of $17,652.9626,000.00 and shall not be increased, abated or diminished except as set forth herein. TenantBeginning on January 1, 2026 and each January 1 of each year thereafter during the Term, the amount of Base Rent which shall be paid during each calendar year shall be increased above the preceding year’s obligations to pay Fixed Base Rent by 1.5%. If the Commencement Date is not the first day of a calendar month, the first month’s Base Rent shall begin be prorated, and shall be payable on the Commencement Date. In addition, Base Rent for the first full month of the Term shall be payable on the Commencement Date. Tenant shall deposit also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the first month’s rent with Additional Rent are hereinafter collectively referred to as the “Rent.” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in addition to all rights, powers and remedies provided herein, by law or otherwise in the case of nonpayment of Rent, Landlord upon execution hereofshall be entitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without abatement or suspension. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be held payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as advance rental otherwise expressly provided herein. It is the purpose and security intent of Landlord and Tenant that the Rent payable under this Lease be absolutely net to be forfeitedLandlord, without limitation or other remediessuch that this Lease shall yield (on an absolute net basis) the Base Rent specified in this Lease for each year of this Lease (prorated, as applicable, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordyear).
Appears in 1 contract
Sources: Lease Agreement (ETHEMA HEALTH Corp)
Rent. The fixed A. Tenant shall pay to Landlord the following rent under this Lease:
1. Commencing on the Lease Commencement Date, base rent (hereinafter “Fixed Base Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in advance in equal monthly installments (“Monthly Base Rent”) pursuant to the schedule below. The first installment of $17,652.96. Tenant’s obligations to pay Fixed Monthly Base Rent shall begin be due and payable on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees in an amount equal to paya full month’s installment, and, in case of any nonpayment thereof, Landlord and the remaining successive installments shall have in addition to any other rights be due and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off payable on the first day of each and every calendar month during the Term and any extension or renewal thereofTerm. Fixed If the Rent for any partial Commencement Date occurs on a day other than the first day of a month, Base Rent from the Rent Commencement Date until the first day of the following month shall be proratedprorated at the rate of one-thirtieth (1/30) of the Monthly Base Rent for each day, and any excess paid as the first installment on the execution of this Lease shall be credited toward the second installment. In Month 1 – 12 $ 36,441.60 Month 13 – 24 $ 37,542.44 Month 25 – 36 $ 38,681.24 Month 37 – 48 $ 39,858.00 Month 49 – 60 $ 41,072.72
2. Commencing on the event any Fixed RentLease Commencement Date, additional rent (“Additional Rent”) consisting of all other sums of money as shall become due from Tenant under this Lease.
3. All Base Rent and Additional Rent payable under this Lease shall be collectively referred to herein as “Rent.”
B. Tenant shall pay all Rent without demand, deduction, set-off or counterclaim. If Tenant fails to make any payment of Rent or other payments are not sums required to be paid to Landlord hereunder within ten five (105) business days of the any payment due date thereofdate, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment pay to Landlord, as Additional Rent, for each month or portion part thereof that said payment remains outstanding. Said until paid, a late fee equal to five percent (5%) of the amount due to cover Landlord’s administrative expenses, and interest until paid at the Default Rate provided under this Lease; provided, however, that should such late fee or interest at any time be deemed to violate any applicable usury laws, the late fee or interest charged shall be payable the highest permissible by such laws. For default in addition to the payment of Additional Rent, Landlord shall have the same remedies as for a default in the payment of Base Rent. If Landlord shall at any time or times accept any Rent after it has become due and payable, such acceptance shall not in exclusion excuse delay at subsequent times, nor constitute a waiver of additional remedies herein provided to any of Landlord’s rights under this Lease.
Appears in 1 contract
Sources: Lease (MPC Corp)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by 3.1 Pursuant to the terms set forth on the Reference Page, Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed to Landlord the Annual Rent shall begin in effect from time to time by paying the Monthly Installment of Rent then in effect on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every full calendar month during the Term from and after the Rent Commencement Date.
3.2 The Monthly Installment of Rent in effect at any extension or renewal thereoftime shall be one-twelfth of the Annual Rent in effect at such time. Fixed Rent for any partial period during the Term, which is less than a full month shall be prorateda prorated portion of the Monthly Installment of Rent based upon a thirty (30)-day month. In Said Annual Rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the event Landlord's address, as set forth on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing. Provided Tenant is not in default of any Fixed of the terms and conditions of this lease beyond any applicable grace or cure period, the first four (4) months of Rent, shall be abated. During this period, Tenant shall remain responsible for the payment of all Additional Rent, including electricity.
3.3 Tenant recognizes that late payment of any Annual Rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional rent expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if Annual Rent or any other payments are sum is not paid within ten five (105) days after the applicable due date hereunder, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the due unpaid Annual Rent or other payment. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay Annual Rent or other payments on or before the date thereofon which they are due, Tenant shall be charged a late fee nor do the terms of 1.5% this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of such late this Lease in the event said Annual Rent or other payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordis unpaid after date due.
Appears in 1 contract
Rent. The fixed a. ▇▇▇▇▇▇ agrees to pay to Landlord, through its agent and at the address specified below in paragraph 30, during the term of the Lease, the monthly rent as follows (hereinafter referred to as “Fixed Rent”) payable by for the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereofPremises, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required setoff or demand: Oct. 1, 2022 - Sep. 30, 2023 $1,840.00 per month Oct. 1, 2023 - Sep. 30, 2024 $1,895.00 per month Tenant shall pay Rent to Landlord on or before the first day of each month during the term of the Lease.
b. Any money or sums, other than Rent, due under this Lease, Lease shall be considered Additional Rent and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are be due in advance without demand, deduction or set-off on the first day of each month with the payment of Rent, without any deductions, set-offs or counterclaims, unless otherwise indicated in this Lease. The failure to pay Additional Rent carries the same consequences as ▇▇▇▇▇▇'s failure to pay Rent.
c. If any increase in fire or extended coverage insurance premiums paid by Landlord for the Building is caused by Tenant’s use and every month during occupancy of the Term and any extension or renewal thereof. Fixed Premises, then Tenant shall pay as Additional Rent for any partial month shall be prorated. the amount of such increase to Landlord.
d. In the event any Fixed sums required hereunder to be paid are not received by Landlord on or before the date the same are due, then, Tenant shall immediately pay, as Additional Rent, additional a service charge equal to $50.00. In addition, interest shall accrue on all past due sums from the due date thereof at an annual rate equal to 1% per month. Such interest shall also be deemed Additional Rent. Notwithstanding this service and interest charge, Tenant shall be in Default if all payments required to be made by Tenant are not made at or before the times herein stipulated.
e. On the date of execution of the Lease by ▇▇▇▇▇▇, there shall be due and payable by Tenant a Security Deposit in the amount equal to one monthly rent installment, to be held by Landlord for the performance by Tenant of Tenant’s covenants and obligations under this Lease, it being expressly understood that the deposit shall not be considered an advance payment of rent or a measure of Landlord’s damage in case of default by ▇▇▇▇▇▇. Upon the occurrence of any event of default, Landlord may from time to time, without prejudice to any other remedy, use said Security Deposit to the extent necessary to make good any arrears of rent or any other payments are not paid within ten (10) days damage, injury, expense or liability caused to Landlord by such default or misuse. Any remaining balance of said Security Deposit shall be returned to Tenant upon satisfactory compliance with terms herein, inspection and acceptance by Landlord of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordvacated Premises.
Appears in 1 contract
Sources: Lease Agreement
Rent. The fixed rent (hereinafter “Fixed Rent”A) payable by the Tenant Tenant, in consideration of this Lease, agrees to pay to Landlord, Basic Rent during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation received on or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each month in accordance with the following schedule:
(i) For the Lease Year January 1, 1997-December 31, 1997, thirty seven thousand three hundred ninety four dollars and every month during 76/100 dollars ($37,394.76) payable in twelve equal monthly installments of three thousand one hundred sixteen dollars and 23/100 dollars ($3,116.23);
(ii) For each of the Term Lease Years beginning January 1,1 998 through and any extension or renewal thereof. Fixed Rent for any partial month including the leas year beginning January 1, 2006 the following rental adjustment shall apply: The rental amount from the previous year shall be proratedadjusted by the Consumer Price Index, specifically the CPI for all Urban Consumers. The adjustment shall be no less than 3.5% per year and no more than 7% per year. In the event that tenant pays Landlord any Fixed installments of Basic Rent or Percentage Rent after the due date, or any Additional Rent (as hereinafter defined) later than the (5th) day after billing therefore, then and in such event, Tenant shall pay to Landlord, together with and in addition to said installment of Basic Rent or Additional Rent, additional rent a late charge of five percent (5%) of installment past due. Any installments of Basic Rent or any other payments are Additional Rent not paid made within ten (10) days from the date due shall, in addition to the foregoing late charges, bear interest from the date due at the rate of eighteen percent (18%) per annum (the “Default Rate”). If Landlord, during the Term of this Lease, receives two (2) or more checks from Tenant which are returned for insufficient funds. Landlord, in addition to applicable late charges and reimbursement for any additional cost incurred by reason of any returned check, may require, at Landlord’s election, that any future payment shall be either bank certified, cashier’s or treasurer’s check. None of the foregoing late charges shall be construed to limit or otherwise waive any other remedies available to Landlord for Tenant’s default under this Lease. Anything contained herein to the contrary notwithstanding, the late charges provided hereunder shall be abated for one violation each Lease Year, provided Tenant cures such late payment within five (5) days after written notice that the same is past due.
(B) Tenant shall tender all payments due date thereofhereunder by good check to Landlord c/▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or to such other party or such other address as Landlord may designate from time to time by written notice to Tenant. If Landlord shall at any time or times accept said Basic Rent or Additional Rent after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute a waiver of any or all of Landlord’s rights hereunder.
(C) This lease is what is commonly called a “triple net lease”, it being understood that Landlord shall receive the rent free and clear of any and all other impositions, taxes, liens, charges, or expenses of any nature whatsoever in connection with the ownership and operation of the Premises. In addition to the Basic Rent, Tenant shall pay to the parties respectively entitled thereto all impositions, insurance premiums, utility charges (including but not limited to gas, fuel, electric, water, sewer, trash removal and telephone charges), operating charges, maintenance charges, construction costs, and any other charges, costs, and expenses which arise or may be charged a late fee contemplated under any provisions of 1.5% the Lease during the Term hereof. All of such late charges, costs, and expenses shall constitute Additional Rent, and upon the failure of Tenant to pay any of such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay Basic Rent. For purposes herein contained the term “Rent” shall refer to Basic Rent and Additional Rent. It is the intention of the parties hereto that this Lease shall not be terminable for any reason by the Tenant unless otherwise expressly permitted under the terms of this Lease and that Tenant shall in no event be entitled to any abatement of or reduction in Rent payable hereunder, except as herein expressly provided. Any present or future law to the contrary shall not alter this agreement of the parties. If Tenant defaults in the making of any payment for each late to any third party or in the doing of any act required to be made or done by Tenant, then Landlord may, but shall not be required to make such payment for each month or portion thereof that said payment remains outstanding. Said late fee do such act, and the amount of the expense thereof, if made or done by Landlord, within interest thereon at the Default Rate accruing from the date paid by Landlord, together with an additional charge of fifteen percent (15%) of the amount so paid to cover Landlord’s administrative costs, shall be paid by Tenant to Landlord and shall constitute Additional Rent hereunder due and payable in addition by Tenant upon receipt by Tenant of a written statement of costs from Landlord. The making of such payment or the doing of such act by Landlord shall not operate to and not in exclusion cure Tenant’s default, nor shall it prevent Landlord from the pursuit of additional remedies herein provided any remedy to Landlordwhich Landlord would otherwise be entitled.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the 3.1 Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed to Landlord the Annual Rent shall begin in effect from time to time by paying the Monthly Installment of Rent then in effect on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every full calendar month during the Term and Term, except that the first full month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any extension or renewal thereoftime shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Fixed Rent for any partial period during the Term which is less than a full month shall be prorateda prorated portion of the Monthly Installment of Rent based upon the number of days in such month. In Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the event Rent Payment Address, as set forth on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within thirty (30) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any Fixed Rentrent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other payments are sum is not paid within ten when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (10a) days Fifty Dollars ($50.00), or (b) six percent (6%) of the due date thereof, unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be charged a late fee of 1.5% of such late payment reassessed and added to Tenant’s obligation for each late successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordis unpaid after date due.
Appears in 1 contract
Sources: Lease (Knology Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with to Landlord upon execution hereofat Landlord's Notice Address, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off off, annual rent equal to the Base Rent, as adjusted from time to time pursuant to the terms hereof, payable in equal monthly installments in advance on the first day of each and every calendar month during the Term term hereof. The Base Rent initially payable hereunder shall be the "Initial Base Rent" set forth in the Summary of Primary Business Terms hereinabove. The Base Rent shall be adjusted from time to time as set forth in Section 4 below. Upon execution of this Lease, Tenant shall pay to Landlord the monthly Base Rent for the first full calendar month of the Lease Term. Base Rent and any extension or renewal thereof. Fixed Additional Rent for any partial month during the Lease Term shall be proratedpro-rated based on the number of days in such month, and Base Rent for any such partial month at the beginning of the Lease Term shall be paid on the Commencement Date. In the event any Fixed Rent, additional Landlord does not mail or otherwise distribute statements or bills for rent or any other amounts due hereunder, except as may be expressly otherwise provided herein. It is Tenant's sole responsibility to ensure that payments are not paid within ten (10) days of the due date thereofmade and received when due. If any check received by Landlord from Tenant shall be dishonored, refused or returned, then in addition to Landlord's other remedies and rights, Tenant shall be charged pay a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable $100.00 administrative charge, in addition to any late charges and not the payment in exclusion respect of additional remedies herein provided which the check was given. Tenant and Landlord agree that all amounts due hereunder, whether labeled Base Rent, Additional Rent or otherwise, shall be considered as rental reserved under this Lease for all purposes, including without limitation regulations pursuant to Landlord.the United States Bankruptcy Code, as may be amended from time to time, including further without limitation Section 502(b)(6)
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with pay to Landlord upon execution hereof, to be held as advance rental and security to be forfeitedminimum monthly rent, without limitation deduction, setoff, prior notice, or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occursdemand, the payment shall be applied Basic Monthly Rent described in Paragraph 2.6, above (subject to adjustments as provided in the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, andattached Addendum), in case of any nonpayment thereofadvance, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law on or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each calendar month, beginning on the Rent Commencement Date and every 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 first month of the Term following the Rent Commencement Date (which first month shall be payable upon execution of this Lease) shall be prorated on the basis of the actual number of days during the Term and occurring during the relevant month. Notwithstanding the foregoing, if Landlord is delayed in completion of Landlord’s Work due to any extension act or renewal thereof. Fixed omission by Tenant or its agents, employees, contractors, or representatives, then in addition to the Basic Monthly Rent payable for any partial the first month shall be prorated. In of the event any Fixed RentTerm following the Rent Commencement Date, additional rent or any other payments are not paid within ten (10at the rate of one-thirtieth of the Basic Monthly Rent per day) for the number of days of the due date thereofsuch delay. All “Rental” (which includes Basic Monthly Rent, Tenant Percentage Rent, if any, and any items designated as “Additional Rent” or referred to as additional rent hereunder) shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstandingpaid to Landlord at the same address as notices are to be delivered to Landlord pursuant to Paragraph 2.10, above. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord.Landmark National Ban—Revised 8-16-01 Standard Shopping Lease FINAL 8-16-01 Landlord /s/ [ILLEGIBLE] Tenant /s/ [ILLEGIBLE]
Appears in 1 contract
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter “Fixed collectively referred to as "RENT"). "ADDITIONAL RENT" means all sums (exclusive of Base Rent”) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand, provided that the first installment of Base Rent and every the first monthly installment of Additional Rent for Expenses and Taxes shall be payable on December 1, 2004 (and shall apply to the month during of January 2005 unless the Term Commencement Date does not occur on or before January 1, 2005, in which event such payment shall apply to the first full calendar month of the Term). All other items of Rent shall be due and any extension payable by Tenant on or renewal thereofbefore 30 days after billing by Landlord. Fixed Rent shall be made payable to the entity, and sent to the address, Landlord designates in writing 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, provided that Tenant shall be entitled to a grace period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum. Landlord's acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be proratedprorated based on the actual number of days in such month. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant's covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by Notwithstanding anything to the Tenant during contrary contained in the original Term Lease, the Rent due under the Lease shall be modified as follows:
A. Provided Tenant is not then in Default under any of the terms, covenants or conditions of the Lease, effective on July 1, 2008 and continuing through December 31, 2020, annual rent Base Rent for the Existing Premises only shall be reduced by $2.25 per RSF of Two Hundred Eleven Thousand Eight Hundred Thirty Five the Existing Premises per annum.
B. Beginning on the date of final execution and 52/100 ($211,835.52) Dollars ($14.04 per square foot delivery of rentable floor area) payable this Amendment, Tenant shall receive from Landlord an immediate Rent credit in equal monthly installments the amount of $17,652.96. Tenant’s obligations to pay Fixed 3,000,000.00 (“Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereofCredit”), to be held applied as advance rental and security provided in this Paragraph B in Tenant’s sole discretion as it elects in a written notice to be forfeitedgiven to Landlord, without limitation including, at any time or from time to time during the Term, toward all or any portion of Rent or any component of Rent, provided that at the time Tenant seeks to apply the Rent Credit, Tenant is not in Default under any of the terms, covenants or conditions of the Lease.
C. Effective January 1, 2021, the Base Rent shall be adjusted to equal one hundred percent (100%) of the Prevailing Market Rent (as defined below) for the Premises, including the Existing Premises, the Expansion Space and the Option Space. “Prevailing Market Rent” shall mean the annual market rental rate or rates for renewal leases of space in the Building and other remediescomparable office buildings within the central business district of Chicago consisting of more than 100,000 rentable square feet and otherwise comparable to the extent practicable with respect to the condition, location and use of the Premises (“Comparable Leases”) for any default by Tenant occurring a term of five (5) years, adjusting for all concessions, landlord work and expenses, brokerage commissions, allowances and other incentives provided in the Comparable Leases. Only Comparable Leases executed during the twelve (12) month period prior to the date of Landlord’s written notice to Tenant of Landlord’s determination of the Prevailing Market Rent during such period shall be considered in determining the Prevailing Market Rent. Notwithstanding the foregoing, Prevailing Market Rent shall take into account the future value of the following, calculated as provided below: (i) the reduction in annual Base Rent pursuant to Paragraph 5.A above, and (ii) applicable leasing commissions payable for the period from January 1, 2021 to December 31, 2025 in connection with the extension of the Term Commencement Datewith respect to the Premises (including the Existing Premises, the Expansion Premises and the Option Space) through December 31, 2025 pursuant to this Amendment (collectively, the “Concessions and Costs”). The future value of Concessions and Costs shall be (1) calculated using an interest rate of 8.5% per annum beginning on the date each commission is paid, and the date each such rent reduction inures to the benefit of Tenant, and (2) compounded on a monthly basis. An example of the methodology used to determine Prevailing Market Rent taking into consideration the adjustments to Concessions and Costs listed above is attached to this Amendment as Exhibit C and made a part hereof as if fully set forth herein. Landlord will deliver written notice to Tenant of its determination of the Prevailing Market Rent not later than July 1, 2020. If no default occursTenant believes that the Prevailing Market Rent quoted by Landlord is not consistent herewith, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant may object in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid writing within ten (10) days after receipt of Landlord’s written notice, and Landlord and Tenant shall commence negotiations to attempt to agree upon the Prevailing Market Rent. If Landlord and Tenant are unable to reach agreement on the Prevailing Market Rent within ten (10) days after the date the parties commence negotiations, then Landlord and Tenant shall follow the procedure set forth in Section 43.C of the due date thereofOriginal Lease, Tenant provided that the term “Market Rental Rate” therein shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord“Prevailing Market Rent” as defined herein.
Appears in 1 contract
Sources: Lease (Northern Trust Corp)
Rent. The fixed A. Tenant shall pay rent (hereinafter “Fixed the "Minimum Rent”") payable by in accordance with the following Schedule: Tenant during shall pay all sums due and owing to Landlord under this Lease in lawful money of the original Term United States of America in the form of a good check to Landlord at the address provided in Section 23 or in such other manner or at such other place as Landlord may designate in a written notice to Tenant from time to time. The first payment of Minimum Rent shall be payable upon execution of this Lease, to be applied to the annual rent first installment of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) Minimum Rent. Minimum Rent shall be payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin in accordance with the foregoing schedule, each in advance on the Term Commencement Date. Tenant shall deposit or before the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first (1st) day of each and every month during the Term, without any set-off, deduction, demand, diminution, or billing whatsoever, except that (i) Tenant shall pay an amount equal to the first monthly installment of Minimum Rent at the time of execution of this Lease, which shall be applied to the first installment of Minimum Rent due, and (ii) if either the Term and any extension or renewal thereof. Fixed the obligation to pay Minimum Rent commences on a day other than on the first day of the month or ends on a day other than on the last day of the month, the Minimum Rent for any partial month such month(s) shall be proratedprorated on a per diem basis. In The prorated Minimum Rent for the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days part of the due date thereof, month in which the Term commences shall be paid on the Rent Commencement Date.
B. The Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstandingpay Minimum Rent and Additional Charges according to the terms hereof beginning on the Rent Commencement Date. Said late fee The Rent Commencement Date shall be payable in addition to and not in exclusion 30 days after the Effective Date of additional remedies herein provided to Landlordthe Lease.
Appears in 1 contract
Sources: Lease Agreement
Rent. The fixed rent (hereinafter “Fixed Rent”A) payable by Rent for the Tenant during the original Term Premises shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable paid in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin $ per month payable in advance, on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every calendar month during the Term and any extension of the Lease at the location set forth below, without notice or renewal thereof. Fixed demand (“Rent”).
(B) Tenant shall also pay additional rent of $ per month to Landlord for
(C) Unless Landlord notifies Tenant of a change in address, all payments must be mailed or delivered to Landlord at the following address: .
(D) Rent for any partial month during the Term will be prorated accordingly, on a per diem basis. The first (1st) monthly installment of Rent shall be proratedpaid to Landlord contemporaneously with the execution of this Lease.
(E) Rent (including any Additional Rent) is due on the first (1st) day of each calendar month. In Any payments paid after the event day of any Fixed Rent, additional rent or any other calendar month shall be deemed late. Any late payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a $ late fee for the first day rent is late. An additional fee of 1.5% of such late payment $ per day shall be assessed for each additional day Rent is late, until Rent is paid in full. Additionally, any Rent (including any Additional Rent) due to Landlord that is not paid when due shall bear interest, from the date due, at a rate of eighteen percent (18%) per annum. All late fees and interest shall be deemed Additional Rent payable by Tenant.
(F) Payments shall be deemed received when actually delivered to, and received by, Landlord at the payment for each month or portion thereof that said payment remains outstandinglocation. Said Dishonored checks and any checks received late in the mail will be treated as late payments. A fee of $ shall be applied by Landlord to any dishonored check, which fee shall be payable deemed Additional Rent. Any additional bank and handling charges that are assessed in addition the event of a dishonored check shall also be deemed Additional Rent. Landlord may require Tenant to replace any dishonored check with a money order, cashier’s check, or bank check. Landlord may further require that all subsequent payments after a dishonored check be paid with a money order, cashier’s check, or bank check.
(G) Acceptable forms of payment of Rent (including Additional Rent) are personal check, cashier’s check, bank check, money order, and not in exclusion the following online/ACH payment methods . No other forms of additional remedies herein provided to payment will be accepted by Landlord.
Appears in 1 contract
Sources: Residential Lease Agreement
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by Subject to the abatement provided for in Paragraph 1(c), Tenant during shall pay the original Term shall be the annual rent first full monthly installment of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Base Rent shall begin on the Term Rent Commencement Date. Tenant If the Rent Commencement Date occurs on a day other than the first day of a calendar month, the Base Rent for such calendar month shall deposit be prorated and the balance of the first month’s rent Base Rent therefore paid shall be credited against the next monthly installment of Base Rent. Subject to the abatement provided for in Paragraph 1(c), beginning with Landlord upon execution hereofthe first calendar month immediately following the Rent Commencement Date, to be held Tenant shall pay each monthly installment of Base Rent in advance on or before the first calendar day of each month, together with each monthly installment of the Operating Payment, as advance rental and security to be forfeited, without limitation or other remedies, defined below. Monthly installments for any default by Tenant occurring prior to fractional calendar month, at the Term Commencement Date. If no default occursbeginning or end of the Term, the payment shall be applied to prorated based on the first monthly installment due hereundernumber of days in the month. Tenant shall also pay as additional rent without noticeany and all sales, except as required excise and other taxes (excluding Landlord’s income taxes) levied, imposed, or assessed by the United States of America, the State of California, or any political subdivision thereof or other taxing authority upon the Base Rent or any Additional Rent payable hereunder (“Rent Tax”). The Operating Payment, the Rent Tax, and all other payments due under this Lease from Tenant other than Base Rent due hereunder shall be deemed Additional Rent. Base Rent and Additional Rent, together with all other amounts payable by Tenant to Landlord under this Lease, shall be sometimes referred to collectively as “Rent”. Tenant shall pay all Rent to Landlord or Managing Agent at the Rent Payment Address or at such other place designated by Landlord in writing in accordance with Paragraph 43 below. If Tenant fails to make any payment of Rent within five (5) days after such payment is past due, then Tenant shall pay a late charge of four percent (4%) of the amount of the payment, provided, however that no such late charge shall be imposed on the first (1st) past due payment in any twelve (12) month period. Such late charge shall constitute Rent, and without any abatementshall be due immediately. Such late charge shall be in addition to, deduction or setoffand not in lieu of, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for to Landlord in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord.this
Appears in 1 contract
Rent. The fixed rent Commencing the earlier of: (hereinafter i) the Commencement Date; or (ii) the date that Tenant opens for business to the public in the Premises (“Fixed Rent Commencement Date”), Tenant shall pay to Landlord an annual rental (“Rent”) payable by for the Tenant Premises during the original initial Lease Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Four Dollars ($14.04 4.00) per square foot of rentable interior sales floor areaarea which is approximately twelve hundred (1200) square feet. [NOTE: For the first one hundred and twenty stores, Rent shall not commence until one hundred and twenty days after the Delivery Date.] Rent shall be payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin advance on the Term Commencement Date. Tenant shall deposit or before the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited(1st) of each month in monthly installments, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, abatement (except as required under this Lease, provided in Sections 10.2 and without any abatement, deduction or setoff, all sums, impositions, costs, expenses 10.3 hereof and other payments which Tenant in any of the provisions portions of this Lease assume with specific abatement rights), deduction, or agrees to pay, and, in case of any nonpayment thereofoffset. After the Commencement Date, Landlord shall have in addition cause its architect to any other rights and remedies, all field measure the interior sales floor area of the rights Premises and remedies provided by law or provided for prepare a certification of square footage (measuring the square footage of such area from the exterior of exterior walls and the center point of any shared walls); such certification to be in a form reasonably acceptable to Tenant. Appropriate proration of Rent and all other charges payable hereunder shall be made if the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off Commencement Date is not on the first day of each and every month during a calendar month, or if the Term and any extension or renewal thereofdate of termination of the Lease is not on the last day of a calendar month. Fixed Rent for any partial month Tenant shall be prorated. In pay to Landlord together with the event any Fixed payment of Rent, additional rent any sales or use tax now or hereafter imposed upon the Rent or any other payments charges payable by Tenant by the state in which the Premises are not paid within ten (10) days located and any agency of the due date thereof, Tenant federal government or any local government. All Rent checks shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstandingforwarded to: L▇▇▇’▇ HOME CENTERS, INC. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord.Attn: Property Management Dept. (REO) P. O. B▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the 3.1 Tenant covenants to pay to Landlord during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeitedLease Term, without limitation any setoff or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occursdeduction except as otherwise specifically provided in this Lease, the payment full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be applied to collectively called “Rent.” Notwithstanding the foregoing, the first monthly installment due hereunderof Base Rent shall be paid to Landlord upon execution and delivery of this Lease by Tenant. In addition, Tenant shall also pay pay, as additional rent without noticeAdditional Rent, except as all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, county, state or other governmental body having authority upon the Base Rent or Additional Rent hereunder, such payments to be in addition to all other payments required to be paid by Tenant to Landlord under this Lease, . Such payments shall be paid concurrently with payments of Taxes. Base Rent and without any abatement, deduction Additional Rent for each calendar year or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in portion thereof during the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are Term, shall be due and payable in advance without demand, deduction or set-off in monthly installments on the first day of each and every calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and any extension or renewal thereof. Fixed Additional Rent for any partial such month or months shall be prorated, based on the number of days in such month. In All amounts received by Landlord from Tenant hereunder shall be applied first to the event earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
3.2 To the extent allowed by law, if Tenant fails to pay any Fixed Base Rent, additional rent Additional Rent, or other item of Rent when due and payable hereunder, such item (A) shall bear interest at the Default Rate from the date due until the date paid and (B) shall bear a “Late Charge” equal to five percent (5%) of the unpaid amount, both (A) and (B) of which shall be due and payable to Landlord immediately upon demand. Notwithstanding the foregoing, Landlord agrees to waive the foregoing interest assessment and Late Charge once per calendar year so long as Tenant cures such nonpayment within five (5) days following the date when such payment was due.
3.3 Additional Rent payable hereunder shall be adjusted from time to time in accordance with the provisions of Exhibit C (Provisions Regarding Additional Rent) attached hereto.
3.4 Tenant’s obligation so to pay Rent under this Lease shall be absolute, unconditional, and independent and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other payments are restriction on Tenant’s use, or, except as otherwise specifically provided in this Lease, any casualty or taking, or any failure by Landlord to perform or other occurrence; and Tenant waives all rights now or hereafter existing to quit or surrender this Lease or the Premises or any part thereof, other than on account of a constructive eviction.
3.5 Provided that Tenant is not paid within ten then in an Event of Default (10as hereinafter defined) days under this Lease, then, during the first month of the due date thereofLease Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Rent Abatement”). Landlord and Tenant acknowledge and agree that the amount of the Rent Abatement equals $13,559.50. Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If, prior to the expiration of the Rent Abatement Period, Tenant shall be charged a late fee in an Event of 1.5% Default under this Lease, beyond any applicable notice and cure period, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, fire or other casualty (pursuant to Section 18), or eminent domain (pursuant to Section 19), then the dollar amount of the unapplied portion of the Rent Abatement as of the date of such late payment for each late payment for each month default or portion thereof that said payment remains outstanding. Said late fee termination, as the case may be, shall be payable converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in addition full. Notwithstanding anything to the contrary contained herein, at any time prior to or during the Rent Abatement Period, Landlord shall have the option to purchase, by check or wire transfer of available funds, all or any part of the remaining Rent Abatement by providing Tenant with written notice thereof (“Landlord’s Rent Abatement Purchase Notice”). Landlord’s Rent Abatement Purchase Notice shall set forth the total portion of the remaining Rent Abatement that Landlord elects to purchase (the “Purchase Amount”). The Purchase Amount shall be paid by Landlord to Tenant simultaneously with the giving of Landlord’s Rent Abatement Purchase Notice. Upon Landlord’s tender of the Purchase Amount, the Rent Abatement shall be reduced by the number of months of Rent Abatement so purchased by Landlord. Upon request by Landlord, Landlord and not in exclusion Tenant shall enter into an amendment to this Lease to reflect the Purchase Amount paid by Landlord and the corresponding reduction of additional remedies herein provided to Landlordthe Rent Abatement.
Appears in 1 contract
Rent. 2.1 During the lease Tenant shall pay and Owner shall accept a rental as follows: Rental Period Rent ------------------------------------ ----------------- October 1, 2002 - September 31, 2003 $ 8,334 per month October 1, 2003 - September 31, 2004 $ 9,167 per month October 1, 2004 - September 31, 2005 $10,000 per month The fixed rent (hereinafter “Fixed Rent”) payable by rental for each month beginning on October 1, 2005, and the Tenant during rental for any extended term if the term of this lease is extended beyond the original Term term, shall be the annual rent of Two Hundred Eleven Ten Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 10,000) per square foot month or, if greater, the amount determined by multiplying the rental for each month of rentable floor area) payable in equal monthly installments the prior year by a fraction, the numerator of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin which is the Consumers Price Index United States - All Items, for January of the fourth and fifth year or each year of the extended term, and the denominator of which is such index figure on the Term Commencement Date. same base, for January of 2005, provided that such fraction shall never be less than one (1).
2.2 In addition to these rental payments, Tenant shall deposit the first month’s rent with Landlord upon execution hereofpay when due, as additional rent, all other amounts to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default paid by Tenant occurring prior to under this lease.
2.3 It is the Term Commencement Date. If no default occurs, intention of Owner and Tenant that the payment rent paid under this lease shall be applied net to Owner and that each year during the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, term of the lease all sums, impositions, costs, expenses and other obligations of every kind relating to the premises (except as otherwise specifically provided in this lease) which may arise or become due during the term of this lease shall be paid by Tenant, and that Owner shall be indemnified by Tenant against such costs, expenses and obligations.
2.4 All payments which of rent shall be made by Tenant to Owner without notice or demand, at such place within the United States as Owner may from time to time designate in any of writing. For the present Owner designates Owner's address stated in or pursuant to the Notices provisions of this Lease assume or agrees to pay, and, lease as the place for making the payments of rent. All rents shall be payable in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all legal tender of the rights and remedies provided by law or provided for in United States as the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a same is then constituted.
2.5 A late fee will accrue at the rate of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstandingtwelve percent (12%) per annum on all delinquent rent and other amounts due from Tenant. Said Such late fee shall be immediately due and payable in addition to and not in exclusion of as additional remedies herein provided to Landlordrent under this lease.
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Rent. The fixed rent (hereinafter “Fixed Rent”) payable by Section 1. Tenant shall pay to the Tenant during Landlord as BASIC ANNUAL RENT for the original Term shall be Leased Premises for each year of the annual rent period of Two February 1, 1996 through January 31, 2001, the sum of Three Hundred Eleven Forty-One Thousand Eight One Hundred Thirty Five and 52/100 ($211,835.52) Twenty Dollars ($14.04 per square foot of rentable floor area341,120.00) payable which shall be paid in equal monthly installments of Twenty-Eight Thousand Four Hundred Twenty-Six Dollars and 66/100ths Dollars ($17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof28,426.66), to be held as advance rental due and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off payable on the first day of each and every month during month, in advance. Said rent shall be paid to the Term and any extension Landlord, or renewal thereofto the duly authorized agent of the Landlord, at its office at 3800 ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇. Fixed ▇▇ecks should be made payable to WILMINGTON COMMERCE PARK PARTNERSHIP. Any Basic Annual Rent for any partial payment not received by the Landlord by the tenth day of the month shall be proratedpast due. In If the event commencement date of this Lease is other than the first day of the month, any Fixed Rentrental adjustment or additional rents hereinafter provided for shall be prorated accordingly. The Tenant will pay the rent as herein provided, without deduction whatsoever, and without any obligation of the Landlord to make demand for it. Any installment of rent accruing hereunder and any other sum payable hereunder, if not paid within ten days of when due, shall bear interest at the rate of eighteen percent (18%) per annum until paid. Late Fee. Provided, however, that Tenant shall be entitled to two (2) written notices from Landlord in a given Lease Year that such rent, additional rent or any other payments are not paid charge is due and payable within ten five (105) days of Tenant's receipt of such notice before a service charge will be assessed. After four (4) such notices have been given to Tenant during the due date thereof, term of this Lease then no further notices shall be given and Tenant shall be charged a late fee pay any service charges as otherwise provided herein. The Basic Annual Rent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee $341,120.00 shall be payable adjusted annually based on the Consumer Price Index beginning February 1, 1997, the adjustment date which shall commence in addition the second year of lease and each year thereafter, whether during the term of this Lease or any renewal or extension thereof. Increases in the Basic Annual Rent shall be made in accordance with the following procedure:
a. The index to and not in exclusion of additional remedies herein provided to Landlord.be used for this adjustment shall be the Consumer Price Index
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Rent. The fixed rent (hereinafter “Fixed Rent”) shall be per month. Rent shall be payable as follows: Rent is due and payable on the 1st of the month, in advance and without demand. If rental is not paid by the tenth (10th) day after the 1st of the month, ▇▇▇▇▇▇ agrees to pay a LATE CHARGE of. Any account fifteen (15 days) or more days’ delinquent will be assessed an additional $25.00 Pre-Lien Fee. A $25.00 Lien Fee will be assessed at 30 days past due. If Lessor is caused to advertise Tenant’s property for lien sale, Tenant during the original Term will be assessed an advertising charge of $100.00 per advertisement. Tenant agrees to pay a charge for each RETURNED CHECK. The late charges and returned check charges shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five deemed as and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments for rent. A tenant will be charged a fee of $17,652.9625 to cut their lock, if necessary. Tenant’s obligations Partial payment of rent does not waive or void the legal effect of prior notices given to pay Fixed Rent Tenant unless expressly agreed to in writing by ▇▇▇▇▇▇. Lessor reserves the right to refuse payment by ▇▇▇▇▇. All rental payments shall begin on be made to the Term Commencement DateLessor at the above stated address or at such other place as shall be designated in writing from time to time by Lessor. Any additional charges shall be payable concurrently with the rent payment or at the time the additional charge is levied. In the event of a seizure under Paragraph 12 hereof, it is understood and agreed that the liability of Tenant for the rents, charges, costs, and expenses provided for in this Rental Agreement shall not be relinquished, diminished or extinguished prior to payment in full or termination of this Agreement, whichever occurs first in time. It is further agreed that Tenant shall deposit the first month’s rent with Landlord upon execution hereofbe personally liable for all rents, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositionscharges, costs, expenses and other payments which Tenant in any to the date of termination of this Agreement, expenses incurred for the sale and/or disposition of the provisions property, advertising costs, attorneys'' fees, court costs, and any costs of this Lease assume repair and damages to the Space or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or Facility as provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be proratedbelow. In the event of a sale or other disposition, it is agreed that the date of any Fixed Rent, additional rent such sale or any other payments are not paid within ten (10) days disposition shall constitute the date of the due date thereof, Tenant shall be charged a late fee termination of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordthis Agreement.
Appears in 1 contract
Sources: Rental Agreement
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums (exclusive of Base Rent) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each and every calendar month during without notice or demand, provided that the installment of Base Rent for the first full calendar month of the Term following any abatement period as provided Section 1 of Exhibit F attached hereto, and the first monthly installment of 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 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 date due, without regard to any extension notice and cure period provided in Article 18 below or renewal thereofotherwise), provided that Tenant shall be entitled to a grace period of 5 days for the first late payment of Rent in a calendar year. Fixed In addition, past due Rent (again, without regard to any notice and cure period provided in Article 18 below or otherwise) shall accrue interest at an annual rate equal to the 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 publisher of reference rates, or (ii) the maximum contract interest rate per annum permitted by applicable law. Landlord’s acceptance of less than the correct amount of Rent shall 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 Term shall be prorated, based on the actual number of days in such month. In the event any Fixed Rent, additional rent No endorsement or any statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other payments covenant in this Lease. If Landlord received 2 or more checks from Tenant which are not paid within ten (10) days of the due date thereofreturned by Tenant’s bank for insufficient funds, Tenant agrees that all future checks shall be charged a late fee of 1.5% of such late payment for each late payment for each month either bank certified, cashiers’ or portion thereof that said payment remains outstandingtreasurers’ checks. Said late fee All bank service charges resulting from bad checks shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordborne by Tenant.
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Rent. The fixed rent (hereinafter “Fixed Rent”a) payable by the Tenant during the original Term shall be the annual covenants and agrees to pay to Landlord rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five any kind or nature, including Monthly Rent (as hereinafter defined) and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable any sums, charges, expenses and costs identified in equal monthly installments of $17,652.96the Lease as additional rent to be paid by Tenant to Landlord. Tenant’s obligations 's obligation to pay Fixed Rent rent shall begin on the Term earlier of (i) the date Tenant commences to utilize the Demised Premises for the actual conduct of business or (ii) the date which is three (3) months following the Commencement Date (the "Rent Commencement Date") and shall continue to remain an obligation of Tenant until completely satisfied. Promptly after the Rent Commencement Date is ascertained, Landlord and Tenant shall deposit execute a certificate confirming the first month’s Rent Commencement Date in the form attached hereto as Exhibit D-l. Tenant shall make all payments of rent with by check, payable to Park Place Trust or to such other party as Landlord upon execution hereofmay designate from time to time by written notice to Tenant, and to be held such address as advance rental and security Landlord may designate from time to be forfeitedtime by written notice to Tenant, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, demand and without any abatementdeduction, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on or counterclaim. If Landlord at any time or times accepts rent after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute, or be construed as, a waiver of any or all of Landlord's rights hereunder.
(b) The monthly rent for the first day Demised Premises (hereinafter referred to as "Monthly Rent") as of each the Rent Commencement Date, which Tenant hereby agrees to pay in advance to Landlord and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month Landlord hereby agrees to accept, shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord.as follows:
Appears in 1 contract
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums (exclusive of Base Rent) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand. All other items of Rent shall be due and every month during payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the Term 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. If Tenant does not pay any extension Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 Business Days for the 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 fee for any checks returned by Tenant’s bank for any reason equal to the amount of the fee (if any) which Landlord is charged by the applicable bank for such returned check(s). 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 renewal thereofaccompanying any such payment from Tenant. Fixed Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Sources: Office Lease Agreement (Rapid7 Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”a) payable Tenant shall pay to Landlord Adjusted Rental, which is the sum of the monthly Basic Rental, the monthly Excess Operating Expenses and the monthly Excess Taxes (as defined in the Basic Lease Information), as estimated by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable Landlord from time to time, in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin in advance on the Term Commencement Date. Tenant first day of each month in lawful money of the United States to Landlord at its address set forth above (or such other address as Landlord shall deposit the first month’s rent with Landlord upon execution hereof, designate in writing to be held as advance rental and security to be forfeited, Tenant) without limitation notice or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, demand and without any abatement, deduction or setoffset-off. All estimated payments of Operating Expenses paid by Tenant shall be trued up with Landlord at each year-end, all sums, impositions, costs, expenses and other payments which Tenant in any through the term of the provisions Lease Term.
(b) If all of any sum due under this Lease assume or agrees is not received by its due date, then Tenant, to the extent permitted by law, shall pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remediesthe sum owed, all a late payment charge equal to five percent (5%) of the rights and remedies provided sum (or portion thereof) which is overdue. If a check remitted to pay any sum due to Landlord hereunder shall not be honored upon presentment for payment, then Tenant in addition to the amount owed, shall pay to Landlord on demand a fee of five percent (5%) of the amount owed. Following the dishonor of any check presented for payment, Landlord may require all further payments to be made hereunder to be made by law certified check or provided for in the Lease for the nonpayment of Fixed Rentmoney order. All Fixed Rent payments are due in advance without demandAlso, deduction or set-off on the first day of each and every month during the Term and if Landlord does not receive any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid Adjusted Rental within ten thirty (1030) days of after the due date thereof, or fails to pay any sum (other than Adjusted Rental) which at any time becomes due to Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such event, Tenant shall be charged a pay Landlord interest on such overdue amounts from the due date thereof until paid at an annual rate (the “Past Due Rate”) which equals the lesser of (i) eighteen percent (18%) or (ii) the highest rate then permitted by law. All late fee payment charges and fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of 1.5% of late or dishonored payments. Provision for such late payment charge, interest or fee for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee dishonor shall be payable in addition to all other rights and remedies available to Landlord hereunder or at law or in equity and shall not be construed as liquidated damages or limiting Landlord’s remedies in exclusion any manner.
(c) Tenant’s covenants and obligations to pay Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of additional remedies herein provided to Landlordany other covenant or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable 3.1 Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Tenant Monthly Installment of Rent then in effect on or before the fifth day of each full calendar month during the original Term Term, except that the first full month's rent shall be paid upon the annual execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Said rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five shall be paid to Landlord, without deduction or offset and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed without notice or demand, at the Rent shall begin Payment Address, as set forth on the Term Commencement DateReference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring must implement such automatic payment system prior to the Term Commencement Date. If no default occurs, the next scheduled rent payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain, Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the due date thereof, unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be charged a late fee of 1.5% of such late payment reassessed and added to Tenant's obligation for each late successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordis unpaid after date due.
Appears in 1 contract
Rent. The fixed 4.1. As rent and subject to the terms and conditions of this Lease, Tenant shall pay the sums described in Section 1 (hereinafter “Fixed Rent”) payable by the Tenant during the original Term ). No additional payments of money shall be the annual rent required of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96Tenant. Tenant’s obligations to pay Fixed Rent shall begin 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 Term Commencement Date. Tenant shall deposit Premises, 9/12/2013 12:02 PM such as, but not necessarily limited to, the first month’s rent with Landlord upon execution hereoffollowing (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 be held as advance rental Landlord's actual use or occupancy, and security to be forfeited, without limitation or other remedies, for any default (c) increases in utility charges over and above the historic level of utility charges experienced by Tenant occurring prior that are equitably allocated to the Term Commencement DateLandlord's use.
4.2. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. All amounts payable or reimbursable by Tenant shall also pay as additional rent without notice, except as required under this Lease, including late charges and without any abatementinterest, deduction or setoffshall 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, impositions, costs, expenses and other payments which Tenant in any of sums payable to Landlord on demand under the provisions terms of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid payable within ten (10) days after notice from Landlord of the due date thereofamounts 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 the Basic Lease Information, 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 charged a late fee of 1.5% of such late applied to the oldest payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate writing or on a check or money order, shall modify this clause or have any force or effect.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Super Micro Computer, Inc.)
Rent. The fixed rent (hereinafter a) Commencing on the Rent Commencement Date and until the Expiration Date, Tenant shall pay to Landlord as rental for the Premises the “Fixed Base Rent”, as follows: Lease Period Base Rent For Period Base Rent per Rentable Square Foot
(b) In addition to the Base Rent, beginning on the Commencement Date, until the Expiration Date, Tenant shall pay to Landlord the “Additional Rent”, i.e., all sums as shall become due and payable by Tenant under this Agreement other than the Tenant during Base Rent, including, but not limited to, the original Term Electrical Factor and cleaning expenses due under Section 5. Except as otherwise expressly provided herein to the contrary, all items of Additional Rent shall be payable within thirty (30) days after written demand therefor. The Base Rent and Additional Rent are referred to herein, collectively, as the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five “Rent”.
(c) The Base Rent (and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) the Electrical Factor and cleaning expenses due under Section 5), shall be payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each calendar month. If the Commencement Date is other than the first day of a calendar month, the prepaid Base Rent, the Electrical Factor and every month during the Term and any extension or renewal thereof. Fixed Rent cleaning expenses for any such partial month shall be proratedprorated in the proportion that the number of days this Lease is in effect during such partial month bears to the total number of days in the calendar month. In the event any Fixed Except as otherwise expressly provided herein, Base Rent and Additional Rent, additional rent shall be paid to Landlord, without notice, demand, abatement, deduction or offset, in lawful money of the United States at Landlord’s address set forth in this Agreement, or to such other person or at such other place as Landlord may designate from time to time by written notice given to Tenant. No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent due hereunder shall be deemed to be other than a payment on account; nor shall any endorsement or statement on any check or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall letter accompanying any check or payment be charged a late fee of 1.5% of deemed to effect or evidence an accord and satisfaction; and Landlord may accept such late check or payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided without prejudice to Landlord’s right to recover the balance or pursue any other remedy in this Lease or at law or in equity provided.
Appears in 1 contract
Sources: Lease Agreement
Rent. The fixed Beginning on the Commencement Date, Lessee agrees to pay as an initial annual base rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Fifty-Nine Thousand Eight Nine Hundred Thirty Five Seventy-Two and 52/100 ($211,835.52) 80/100 Dollars ($14.04 259,972.80), based on a $2.05 per rentable square foot of rentable floor area) payable per month amount. Beginning on the Commencement Date, Lessee shall pay Rent in equal monthly installments the amount of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due 21,664.40 per month in advance without demand, deduction or set-off on the first day of each and every calendar month during the Term and any extension or renewal thereof. Fixed Rent Term, such monthly installment to be prorated for any partial calendar month in which the Commencement Date or Termination Date shall occur. The Rent shall be proratedadjusted in accordance with the provisions of Section 3. In All amounts (unless otherwise provided herein) other than the event any Fixed Rent and the adjustments thereto described in Section 3 hereof owed by Lessee to Lessor hereunder including, without limitation, the payment of: (i) Taxes (as defined below), (ii) the CAM Expenses (as defined below), (iii) Premises Insurance Reimbursements (as defined below), and (iv) interest due on amounts not paid when due (with such past due amounts accruing interest at the Default Interest Rate (as defined below)) shall be deemed additional rent (“Additional Rent”). Any payment of Rent or Additional Rent not paid by Lessee to Lessor when due shall bear interest at lesser of: (i) twelve percent (12%) or (ii) the maximum rate permitted by applicable law from the date of when due until the date of payment by Lessee to Lessor (the “Default Interest Rate”). Within thirty (30) days following the Possession Date, Lessor shall complete and deliver to Lessee a Form W-9 — Request for Taxpayer Identification and Certification. Except as otherwise provided in this Lease, it is the intention of the parties that Lessor shall receive Rent, additional Additional Rent and all sums payable by Lessee under this Lease free of all taxes, expenses, charges, damages and deductions of any nature whatsoever (except as otherwise provided hereinafter) and Lessee covenants and agrees to pay all sums (including rent taxes, maintenance, repair and replacement costs as set forth in Section 8, Taxes, CAM Expenses, and Premises Insurance Reimbursements) which except for this Lease would have been chargeable against the Premises and payable by Lessor. Lessee shall, however, be under no obligation to pay principal or interest on any other payments are not paid within ten (10) days mortgage on the fee of the due date thereofPremises, Tenant shall be charged a penalties or interest for late fee of 1.5% of such late or partial payment for each late payment for each month nor any income, franchise, inheritance, estate, transfer, excise, gift or portion thereof capital gain taxes, that said payment remains outstanding. Said late fee shall are or may be payable in addition to and not in exclusion by Lessor or that may be imposed against Lessor or succession tax by reason of additional remedies herein provided to Landlordany present, future or retroactive law which may be enacted during the Term of this Lease.
Appears in 1 contract
Sources: Lease Agreement (Netreit)
Rent. The fixed Lessee shall pay Lessor, without offset or deduction and without previous demand therefor, as items constituting rent (hereinafter collectively, “Fixed Rent”):
(a) payable by Basic Rent, at the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable following rates, in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin installments, in advance, commencing on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental Date and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off continuing thereafter on the first day of each and every calendar month or portion thereof during the Term Term:
(i) For the Initial Term: as stated in Section 1.0 above, subject to adjustment as set forth in Section 4.3.
(ii) For each Lease Year in the Extension Term, an amount equal to the “Fair Market Rent” (as hereinafter defined) of the Premises as of the first day of the Extension Term, but in no event less than the Basic Rent payable by Lessee hereunder for the last Lease Year preceding the commencement of such Extension Term. Basic Rent and any extension or renewal thereof. Fixed Additional Rent for any partial month (as defined below) shall be proratedpro-rated for partial months occurring at the beginning or the end of the Term; and
(b) All other costs, charges, or expenses which Lessee in this Lease agrees to pay, or which Lessor pays or incurs as the result of a default by Lessee hereunder, including any penalty or interest which may be added for nonpayment or late payment thereof as provided in this Lease (collectively, “Additional Rent”). In the event any Fixed Except as hereinafter set forth, all recurring payments of Additional Rent, additional rent or any other payments are not paid such as payment on account of “Operating Expenses” (as hereinafter defined), shall be due and payable on the same day on which Basic Rent is due. Unless otherwise specifically provided in this Lease, all non-recurring items constituting Additional Rent shall be due and payable within ten (10) days after receipt of the due date thereof, Tenant written demand therefor by Lessee accompanied by appropriate supporting information. All payments shall be charged a late fee of 1.5% of made to Lessor or such late payment for each late payment for each month or portion thereof that said payment remains outstandingagent, and at such place, as Lessor shall, from time to time, in writing designate, the following being now so designated: ▇▇▇▇▇▇▇▇ & Grew, Inc. Technology Agency Account ▇.▇. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord.▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Appears in 1 contract
Sources: Lease (Elixir Pharmaceuticals, Inc.)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the 3.1 Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed to Landlord the Annual Rent shall begin in effect from time to time by paying the Monthly Installment of Rent then in effect on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every full calendar month during the Term and Term, except that the first month's rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any extension or renewal thereoftime shall be one-twelfth of the Annual Rent in effect at such time. Fixed Rent for any partial period during the Term which is less than a full month shall be prorateda prorated portion of the Monthly Installment of Rent based upon a thirty (30) day month. In Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the event Landlord's address, as set forth on the Reference Page, or to such other person or at such other place as Landlord may from time to time designate in writing.
3.2 Tenant recognizes that late payment of any Fixed Rentrent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other payments are sum is not paid within ten when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (10a) days Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the due unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for each successive monthly period until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date thereofon which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 18 in the event said rent or other payment is unpaid after date due. Notwithstanding the foregoing, Tenant shall be charged entitled, not more than once per calendar year, to a five-day grace period before a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall charge may be payable in addition to and not in exclusion of additional remedies herein provided to Landlordassessed.
Appears in 1 contract
Sources: Lease (Ace Hardware Corp)
Rent. The fixed rent (hereinafter “Fixed Rent”a) payable by Tenant shall pay to Landlord the Tenant during the original Term shall be the annual rent Base Rent without demand and without setoff or deductions of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable any kind, except as expressly set forth in this Lease, in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, andinstallments, in case of any nonpayment thereofadvance, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every calendar month during of the Term and any extension at the address of Landlord stated below or renewal thereof. Fixed Rent such other place as Landlord may designate in writing from time to time, with payment in advance of appropriate fractions of a monthly payment for any partial portion of a month at the commencement and termination of the Term. The first monthly installment of Base Rent shall, however, be payable on the execution hereof. All payments shall be proratedmade initially at Landlord's office c/o Crown Properties, Inc., ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇. In the event any Fixed Every amount payable by Tenant hereunder in addition to Base Rent shall be deemed Additional Rent, additional rent which shall be paid without setoff or deductions of any other payments kind within 15 days after demand. Base Rent and Additional Rent are herein collectively called "Rent". Any Rent not paid by Tenant within ten (10) days after its due date shall thereafter be payable with a late charge equal to 5% of the due date thereofunpaid rent installment, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstandingas Additional Rent. Said late fee The Base Rent shall be payable in addition as follows: Year Annual Base Rent Monthly Base Rent ---- ---------------- ----------------- 1 $574,000.00 $47,833.33 2 $602,000.00 $50,166.67 3 $630,000.00 $52,500.00 4 $658,000.00 $54,833.33 5 $686,000.00 $57,166.67 6 $714,000.00 $59,500.00 7 $742,000.00 $61,833.33
(b) Tenant's obligation to pay Base Rent under this Lease shall commence on the Commencement Date of this Lease (the "Rent Commencement Date").
(c) The obligation of Tenant to pay all sums of Additional Rent and not in exclusion the Electrical Inclusion Amount (as hereinafter defined) shall commence on the Commencement Date of additional remedies herein provided the Lease and there shall be no abatement whatsoever of the obligation of Tenant to Landlordpay such sums during any period or part of any lease year during the term of the Lease.
(d) Notwithstanding the foregoing, Tenant's obligation to pay Base Rent under this Lease shall be abated as follows:
(i) during lease months 1 through 9, Base Rent shall be calculated on the basis of 20,000 rentable square feet; (ii) during lease months 10 through 18, Base Rent will be calculated on the basis of 24,000 rentable square feet; and (iii) from lease month 19 through the Expiration Date, the Base Rent will be calculated on the basis of 28,000 rentable square feet. Accordingly, during lease months 1 though 9, monthly Base Rent shall be $34,166.67, during lease months 10 through 12, monthly Base Rent shall be $41,000.00, and during lease months 13 through 18, monthly Base Rent shall be $43,000.00.
Appears in 1 contract
Sources: Lease (Matrixone Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the 3.1 Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed to Landlord the Annual Rent shall begin in effect from time to time by paying the Monthly Installment of Rent then in effect on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every full calendar month during the Term and Term, except that the first full month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any extension or renewal thereoftime shall be one-twelfth ( 1/12) of the Annual Rent in effect at such time. Fixed Rent for any partial period during the Term which is less than a full month shall be prorateda prorated portion of the Monthly Installment of Rent based upon the number of days in such month. In Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the event any Fixed RentRent Payment Address, additional as set forth on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or any other payments are not paid within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent after five (5) days of due date, or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the due date thereof, unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be charged a late fee of 1.5% of such late payment reassessed and added to Tenant’s obligation for each late successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordis unpaid after date due.
Appears in 1 contract
Sources: Lease (Devax Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”a) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit timely pay to Landlord Rent (as defined in the first month’s rent with Landlord upon execution hereofBasic Lease Information), to be held as advance rental and security to be forfeitedincluding the amounts set forth in Exhibit C attached hereto, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off (except as otherwise expressly provided herein), which payment shall be accompanied by all applicable state and local sales, use and/or gross receipts taxes. Unless otherwise prohibited by Law, Tenant shall make Rent payments via Automated Clearing House (ACH) credit transfer (as opposed to direct debit) payment processing. The obligations of Tenant to pay Base Rent (as defined in the Basic Lease Information) and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Base Rent, adjusted as herein provided, shall be payable monthly in advance. The first (1st) monthly installment of Base Rent, in the amount of $344,662.50 shall be payable concurrently with Tenant’s execution and delivery of this Lease to Landlord; thereafter, Base Rent shall be payable on the first (1st) day of each and every month during beginning on the first (1st) day of the second (2nd) full calendar month of the Term and any extension or renewal thereoffollowing the applicable Abatement Period (as defined below). Fixed The monthly Base Rent for any partial month at the beginning of the Term shall equal the product of 1/365 (or in the event of a leap year, 1/366) of the annual Base Rent in effect during the partial month and the number of days in the partial month, and shall be due on the Commencement Date. Payments of Base Rent for any fractional calendar month at the end of the Term shall be similarly prorated. In This Lease is intended to be a so-called “triple net” lease with respect to Landlord and, except as may be specifically set forth herein, the event Base Rent owing hereunder is (x) to be paid by Tenant absolutely net of all costs and expenses relating to Landlord’s ownership and operation of the Project and the Complex, and (y) not to be reduced, offset or diminished, directly or indirectly, by any Fixed cost, charge or expense payable hereunder by Tenant or by others in connection with the Premises, the Project, the Complex, and/or the Business Park, or any part thereof. The provisions of Exhibit C attached hereto are intended to pass on to Tenant all costs and expenses relating to Landlord’s ownership and operation of the Premises, the Project and/or the Complex. Tenant shall pay Additional Rent, additional rent or any other payments are Taxes and Insurance (each as defined in Exhibit C) at the same time and in the same manner as Base Rent.
(b) Notwithstanding the foregoing provisions of this Section 4 to the contrary, so long as an Event of Default does not paid within ten (10) days of the due date thereofexist, Tenant shall be charged entitled to an abatement of: (x) Phase I Premises Base Rent only for the first six (6) full calendar months following the Commencement Date (the “Phase I Premises Abatement Period”), and (y) Phase II Premises Base Rent only for the first six (6) full calendar months following the Phase II Premises Commencement Date (the “Phase II Premises Abatement Period”). The Phase I Premises Abatement Period and the Phase II Premises Abatement Period are each referred to generally as an “Abatement Period” and collectively as the “Abatement Periods”. The date immediately following the end of the Phase I Premises Abatement Period is referred to as the “Phase I Premises Rent Commencement Date” and the date immediately following the end of the Phase II Premises Abatement Period is referred to as the “Phase II Premises Rent Commencement Date”. The total amount of Base Rent abated during the Abatement Periods is referred to herein as the “Abated Rent”. If a late fee monetary or material non-monetary Event of 1.5% Default (i.e., a default beyond any applicable notice and cure period) occurs at any time during the Term, then (i) at Landlord’s option, all then-unamortized portions of the Abated Rent (assuming amortization of Abated Rent on a straight-line basis over the Term) previously credited to Tenant shall become due and payable to Landlord; and (ii) if the monetary or material non-monetary Event of Default (i.e., a default beyond any applicable notice and cure period) occurs prior to the expiration of an Abatement Period, then, from and after the occurrence of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee Event of Default, there shall be no further abatement of Base Rent pursuant to this Section 4(b) unless and until Tenant cures such Event of Default and Landlord accepts such cure in lieu of exercising its remedies under Section 18(a) or Section 18(b) of this Lease (in which event, the Rent Abatement Period will not be suspended or extended as a result thereof, but Tenant shall be entitled to any remaining portion of the originally scheduled Abatement Period as of the date Tenant cures such Event of Default and Landlord accepts the same). No such recapture by Landlord of Abated Rent pursuant to clause (i) above shall constitute a waiver of any Event of Default of Tenant or any election of remedies by Landlord. For the avoidance of doubt, all Rent other than the Phase I Base Rent remains payable in addition during the Phase I Premises Abatement Period and is not subject to abatement, and all Rent other than the Phase II Premises Base Rent remains payable during the Phase II Premises Abatement Period and is not in exclusion of additional remedies herein provided subject to Landlordabatement.
Appears in 1 contract
Rent. The fixed Tenants shall pay rent (hereinafter “Fixed Rent”) payable to the Landlord as follows: $X,XXX per month, in advance, in one payment or separate payments on the first (1st) day of each calendar month during the Term ($XX,XXX Total). Rent payments may be made by personal, certified, or cashier’s check or money order; provided however, that in the event any check given to Landlord is returned by the Tenant during bank unpaid, Tenants shall pay a returned check fee of Twenty Five ($25.00) for each check returned unpaid in addition to an Administration Fee (as hereinafter defined), with all subsequent monies due and payable in certified funds. Tenants may pay the original Term Rent by separate check from each Tenant, but all Tenants shall remain jointly and severally liable for all Rent. Landlord reserves the right, upon notice to Tenants, to refuse to accept personal checks from Tenants after one or more of Tenants’ personal checks have been returned by the bank unpaid. Tenants shall send all rent payments to the address set forth below or such other address as Landlord may from time to time designate in writing to Tenants. All checks or money orders shall be made payable to Landlord and mailed to the annual following address: or at such other address as Landlord may designate from time to time in writing to Tenants. If the Tenants fail to pay rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments on or before the due date, Tenants agree to pay an administration fee of $17,652.9625.00 for each monthly installment of rent not received by Landlord on or before its due date (”Administration Fee”). TenantThe Administration Fee and any and all returned check fees shall be considered additional rent and shall partially compensate Landlord for costs incurred related to a late payment. The Landlord’s obligations right to collect this Administration Fee shall be in addition to the Landlord’s right to take action under any applicable law and other provision of this Lease. If the Tenants fail to pay Fixed Rent rent on or before the due date, and the Landlord serves a seven (7) day or thirty (30) day notice to quit, demand possession, terminate the tenancy, or any other notice required by statute to Tenants, Tenants agree to pay a $10.00 processing fee to Landlord for each notice (“Processing Fee”). The Processing Fee shall begin on the Term Commencement Datebe considered additional rent and shall partially compensate Landlord for costs incurred related to issuance of a notice. Tenant The Landlord’s right to collect this Processing Fee shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior in addition to the Term Commencement DateLandlord’s right to take action under any applicable law and other provision of this Lease. If no default occursUnless otherwise set forth in this Lease, the payment Tenants shall pay all additional rent to the Landlord promptly and in no event later than the next scheduled rent payment. All rent and additional rent paid after the due date must be paid at the place designated for payment, by certified or cashier check or money order. All payments received shall be applied first to the first monthly installment Processing Fees, then to Administration Fees, then to Service Fees (as defined below), then to other amounts, excluding rent, due hereunder. Tenant shall also pay as additional rent without notice, except as required under to Landlord under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of then to rent due under this Lease. #2181588-v1 -1- If the provisions of this Lease assume or agrees Tenants fail to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional pay rent or any other payments are not paid within ten (10) days sums when due to the Landlord, the Landlord serves notice of default of the Tenants as required by law, and the Tenants fail to remit the amounts due date thereofbefore the notice period expires, Tenant the amount of court costs and attorney fees incurred by Landlord in enforcing Landlord’s remedies and allowed by statute shall be charged a late fee added to the amount of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee the arrearage and shall be payable considered additional rent. The Landlord’s right to collect these costs and expenses shall be in addition to the Landlord’s right to take action under any applicable law and not in exclusion other provision of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Sources: Residential Lease Agreement
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the 3.1 Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed to Landlord the Annual Rent shall begin in effect from time to time by paying the Monthly Installment of Rent then in effect on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every full calendar month during the Term and Term, except that the first full month's rent (representing the charges due for the month of February, 2006) shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any extension or renewal thereoftime shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Fixed Rent for any partial period during the Term which is less than a full month shall be prorateda prorated portion of the Monthly Installment of Rent based upon the number of days in such month. In Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the event any Fixed RentRent Payment Address, additional as set forth on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or any other payments are not paid within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the due date thereof, unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be charged a late fee of 1.5% of such late payment reassessed and added to Tenant's obligation for each late successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordis unpaid after date due.
Appears in 1 contract
Sources: Lease (Limelight Networks, Inc.)
Rent. (a) The fixed Tenant shall pay all rent (hereinafter “Fixed Rent”) payable and other charges to be paid by the Tenant hereunder to the Authority at the office of the Authority in Richmond, Virginia, or to such other individual, firm or corporation and at such other place as may be designated by the Authority.
(b) The Tenant shall pay a monthly rent (the "Monthly Rent") without notice, demand or setoff during the original Term shall be the term hereof based upon an initial rental rate of $20.16 per square foot per year, creating a total annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 $13,628.16. No reduction or increase in rent shall be available for non-material discrepancies in actual square footage. During the first Lease Year the Monthly Rent shall be $1,135.68 per month.
($211,835.52c) Dollars ($14.04 per square foot of rentable floor area) The Monthly Rent is to be payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin advance on the Term Commencement Date. Tenant shall deposit fifth day of each calendar month during the first month’s rent with Landlord upon execution hereof, term hereof without notice or demand and without setoff and it is to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to received at the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on Authority's offices within five (5) days after the first day of each and every rental month. If the Monthly Rent is not received in the Authority's office within five (5) days after the first day of each rental month, there shall be imposed upon the Tenant a late charge equal to 5% of the monthly rental amount. If the Commencement Date is not the fifth day of a calendar month, the Tenant shall pay on the fifth day of the first calendar month during following the Term and any extension or renewal thereof. Fixed Commencement Date a proportionate amount of the monthly Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten period of time from the Commencement Date to the date on which such first monthly payment is due.
(10d) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable All amounts and charges in addition to the Monthly Rent required to be paid by the Tenant in accordance with the terms hereof shall be deemed to be additional rent (the "Additional Rent"). Such amounts or charges, if not paid at the time provided in this Lease, shall be collectible as Additional Rent with the next installment of the rent due and not in exclusion payable hereunder; provided, however, that nothing herein contained shall be deemed to suspend or delay the time for any payment to be made by the Tenant hereunder or to limit any other remedy of additional remedies herein provided to Landlordthe Authority.
Appears in 1 contract
Sources: Lease Agreement (Insmed Inc)
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent, Storage Space Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”) payable by the Tenant during the original Term ). All payments of Rent shall be the annual rent made by wire transfer of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 immediately available United States Dollars in accordance with wire transfer instructions provided by Landlord from time to time by written notice to Tenant thereof. “Additional Rent” means all sums ($211,835.52exclusive of Base Rent) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations that Tenant is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand. All other items of Rent shall be due and every month during payable by Tenant on or before thirty (30) days after billing by Landlord. Rent shall be made payable to the Term entity, and any extension sent to the address, Landlord designates by written notice to Tenant given at least fifteen (15) days in advance of the next payment and shall be made by wire transfer of current U.S. funds to an account designated by Landlord by written notice to Tenant from time to time or renewal thereofby other means acceptable to Landlord. Fixed Tenant shall pay Landlord an administration fee equal to five percent (5%) of all past due Rent, provided that Tenant shall be entitled to a grace period of five (5) days after receipt of notice from Landlord specifying such failure to pay for the first (1st) two (2) late payments of Rent in a calendar year. In addition, past due Rent that is not paid within five (5) days of its due date shall accrue interest at eight percent (8%) per annum from the due date until actually paid. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Each party’s covenants are independent of every other payments are not paid within ten (10) days covenant of the due date thereof, other party in this Lease. Tenant shall be charged a late fee pay Tenant’s Pro Rata Share of 1.5% Taxes and Expenses in accordance with Exhibit B of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Sources: Office Lease Agreement (Zipcar Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by reserved under this Lease for the Tenant during the original Term term hereof shall be the annual rent and consist of:
A. Base Rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 $ See Page 1A per square foot of rentable floor area) year, which shall be payable in advance, in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeitedinstallments, without limitation deduction or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, setoffs and without any abatementprior demand therefore, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every calendar month during the Term term of this Lease except that TENANT shall pay, upon execution and delivery of this Lease by TENANT, the sum of $20,000.00, together with $9,750.00, representing the first month's portion of the estimated share of expenses per section 15 of this Lease entitled "Additional Rent", plus applicable sales tax, to be applied against the first installment of Base Rent becoming due under this lease.
B. All taxes in the nature of sales, use or similar taxes, now or hereinafter assessed or levied by any extension taxing authority upon the payment of fixed rent or renewal thereof. Fixed Additional Rent as hereinafter defined, and which the LANDLORD is required or permitted to collect from TENANT, shall be payable simultaneously with the payment of Base Rent or Additional Rent.
C. TENANT covenants and agrees to pay a late charge for any partial payment of Base Rent not received by LANDLORD on or before the tenth (10th) day of each month and for any other payment, such as Additional Rent, not received by LANDLORD on or before the date when same is due. Said late charge shall be proratedcomputed from the first day of the month in the case of Rent and from the date when same is due in case of Additional Rent. The amount of the late charge shall be an amount equal to the interest commencing on the dates aforesaid, ending on the date of receipt of the sum(s) by LANDLORD and having a rate equal to eighteen percent (18%) per annum. In the event any Fixed Rentlate charge is due to LANDLORD, additional rent or any other payments are LANDLORD shall advise TENANT in writing and TENANT shall pay said late charge to LANDLORD not paid within ten (10) days later than the date when the next payment of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to LandlordRent is due.
Appears in 1 contract
Sources: Lease Agreement (Rexall Sundown Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit pay to Landlord the first month’s rent with Landlord upon execution hereofBase Rent, to be held Real Property Taxes (as advance rental herein defined) and security to be forfeitedOperating Expenses (as herein defined), without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Leasedemand, and without any abatement, deduction offset or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, anddeduction, in case of any nonpayment thereofadvance, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each calendar month. All Rent and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month payments required to be paid by Tenant to Landlord shall be proratedmade by Tenant payable to the 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 before 11:00 a.m. Eastern Time. In Upon the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days execution of the due date thereofthis Lease, Tenant shall pay to Landlord the first month’s Base Rent, the Security Deposit, and the first monthly installment of estimated Operating Expenses. If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be charged prorated on the basis of a thirty (30) day month. All sums other than Base Rent which Tenant is obligated to pay under this Lease shall be deemed to be additional rent due hereunder (“Additional Rent”), whether or not such sums are designated Additional Rent. The term “Rent” means the Base Rent and all Additional Rent payable hereunder. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late fee of 1.5% charge equal to ten percent (10%) of such delinquent sum and such delinquent sum shall also bear interest from the date such amount was due until paid in full at the lesser of (i) fifteen percent (15%) per annum; or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). The provision for such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee charge shall be payable in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not in exclusion of additional remedies herein provided to Landlordbe construed as a penalty.
Appears in 1 contract
Sources: Multi Tenant Industrial Triple Net Lease (Chardan NexTech Acquisition 2 Corp.)
Rent. The fixed All rent is payable through the Tenant’s Resident Portal Account, or such other place or address designated by Landlord. Tenant, in return for the use of the Unit and in consideration of the terms, conditions, covenants, and provisions contained herein, shall pay Landlord the sum of , without offset or deduction (hereinafter the “Fixed Rent”) payable by the ). Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on hereby acknowledges that the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to paymay be less than a full calendar year, andand the Rent has been allocated into installments of . Monthly Rent, in case of any nonpayment thereof, Landlord shall have in addition to together with any other rights and remedies, all payment of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee together therewith shall be payable in advance without further notice, demand or deduction as follows: The first (1st) installment of monthly Rent shall be due on or before the Commencement Date and all payments of monthly Rent due thereafter shall be paid on or before the first (1st) day of each month during the entire Term. Time is of the essence and Rent is past due if not ACTUALLY RECEIVED by Landlord on or before the due date. The first installment of monthly Rent . Tenant's obligation to pay Rent shall be independent of any of Landlord's obligations hereunder. To the extent that Tenant is required or obligated to pay any amounts hereunder to or for the benefit of Landlord, which shall be in addition to the monthly scheduled Rent as provided above, such amounts shall be deemed and not considered as additional Rent, and in exclusion all respects intended to be included and considered as "Rent", as such term is defined in the Act. Should any Rent or additional Rent be due, outstanding, unpaid or accrued at the time of additional remedies herein provided the expiration or earlier termination of this Agreement, the duty, liability and obligation of Tenant to Landlordpay the same shall survive such expiration or termination. Additional Rent and monthly charges will be listed on separate addenda.
Appears in 1 contract
Sources: Rental Agreement
Rent. The Tenant agrees and covenants to pay Landlord an annual fixed rent in the amount of $36,000.00 per year (hereinafter “Fixed Base Rent”) payable by ), commencing on the Tenant during the original Term Commencement Date. Base Rent shall be payable in advance, without demand, on the annual rent first day of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable each calendar month in equal monthly installments of $17,652.963,000.00 and shall not be increased, abated or diminished except as set forth herein. TenantBeginning on January 1, 2026 and each January 1 of each year thereafter during the Term, the amount of Base Rent which shall be paid during each calendar year shall be increased above the preceding year’s obligations to pay Fixed Base Rent by 1.5%. If the Commencement Date is not the first day of a calendar month, the first month’s Base Rent shall begin be prorated, and shall be payable on the Commencement Date. In addition, Base Rent for the first full month of the Term shall be payable on the Commencement Date. Tenant shall deposit also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the first month’s rent with Additional Rent are hereinafter collectively referred to as the “Rent.” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in addition to all rights, powers and remedies provided herein, by law or otherwise in the case of nonpayment of Rent, Landlord upon execution hereofshall be entitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without abatement or suspension. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be held payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as advance rental otherwise expressly provided herein. It is the purpose and security intent of Landlord and Tenant that the Rent payable under this Lease be absolutely net to be forfeitedLandlord, without limitation or other remediessuch that this Lease shall yield (on an absolute net basis) the Base Rent specified in this Lease for each year of this Lease (prorated, as applicable, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordyear).
Appears in 1 contract
Sources: Lease Agreement (ETHEMA HEALTH Corp)
Rent. The Tenant agrees and covenants to pay Landlord an annual fixed rent in the amount of [$ ] per year (hereinafter “Fixed Base Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin ), commencing on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment Base Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without noticepayable in advance, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each calendar month in equal monthly installments of [$____________] and every month shall not be increased, abated or diminished except as set forth herein. Beginning on January 1, 2026 and each January 1 of each year thereafter during the Term, the amount of Base Rent which shall be paid during each calendar year shall be increased above the preceding year’s Base Rent by 1.5%. If the Commencement Date is not the first day of a calendar month, the first month’s Base Rent shall be prorated, and shall be payable on the Commencement Date. In addition, Base Rent for the first full month of the Term shall be payable on the Commencement Date. Tenant shall also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the Additional Rent are hereinafter collectively referred to as the “Rent.” In the event that Tenant fails to make any extension payment of Rent within five (5) days after the same becomes due, then in addition to all rights, powers and remedies provided herein, by law or renewal thereofotherwise in the case of nonpayment of Rent, Landlord shall be entitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. Fixed This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without abatement or suspension. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as otherwise expressly provided herein. It is the purpose and intent of Landlord and Tenant that the Rent payable under this Lease be absolutely net to Landlord, such that this Lease shall yield (on an absolute net basis) the Base Rent specified in this Lease for each year of this Lease (prorated, as applicable, for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordyear).
Appears in 1 contract
Sources: Lease Agreement (ETHEMA HEALTH Corp)
Rent. The fixed Tenant shall pay or cause Manager to pay to Landlord, by wire transfer of immediately available federal funds or by other means acceptable to Landlord in its sole discretion, in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without offset, abatement, demand or deduction (unless otherwise expressly provided in this Agreement), Rent during the Term as follows:
(a) For the first Fiscal Year of the Term (i.e., the period from the Commencement Date through December 31, 2001), Tenant shall pay as and for Rent, percentage rent (hereinafter “"Percentage Rent") calculated for each calendar quarter, equal to _________ of Gross Revenues through the end of such calendar quarter, which amount shall be payable quarterly in arrears, on or before the twentieth (20th) day of the subsequent calendar quarter.
(b) For the second Fiscal Year of the Term (i.e., 2002), Tenant shall pay as and for Rent, Percentage Rent calculated for each calendar quarter, equal to _________ of Gross Revenues through the end of such calendar quarter, which amount shall be payable quarterly in arrears, on or before the twentieth (20th) day of the subsequent calendar quarter.
(c) Commencing with the Third Fiscal Year, the Rent payable in each calendar quarter shall equal the greater of:
(i) the amount of Minimum Rent set forth on Exhibit A ("Minimum Rent") which shall be payable quarterly in arrears on or before the twentieth (20th) business day of the subsequent calendar quarter; provided, however, that Minimum Rent shall be prorated as to any Lease Year which is less than four quarters and as to any partial calendar quarters, or months and as to any partial calendar months; or
(ii) an amount of Percentage Rent, calculated for each calendar quarter, equal to the aggregate of the Period Revenues Computation, through the end of such calendar quarter, which amount shall be payable quarterly in arrears, on or before the twentieth (20th ) day of the subsequent calendar quarter. The Period Revenues Computation shall be an amount equal to the sum of, for the applicable Lease Year, (1) an amount equal to the First Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues up to (but not exceeding) the First Tier Gross Revenues Break Point, (2) an amount equal to the Second Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues in excess of the First Tier Gross Revenues Break Point not exceeding the Second Tier Gross Revenues Break Point, (3) an amount equal to the Third Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues in excess of the Second Tier Gross Revenues Break Point, (4) an amount equal to the Fourth Tier Gross Revenue Percentage of all Lease Year to date Gross Revenues in excess of the Third Tier Gross Revenues Break Point, minus, in each case, the aggregate of Period Revenues Computations for each previous calendar quarter in such Lease Year (if any). Landlord and Tenant expressly acknowledge and agree that (1) the threshold and percentages for establishing Percentage Rent, including those with respect to Period Revenues Computation, are set out on Exhibit "D" to this Agreement (2) the determination of Percentage Rent shall be made with respect to the Fixed Rent”) Term and separately with respect to the Extended Terms. The amount of Minimum Rent payable for the each calendar quarter of a Lease Year shall equal the annual amount of Minimum Rent multiplied by a fraction, the Tenant numerator of which is the amount of the Tenant's budgeted Gross Revenues for such calendar quarter and the denominator of which is the amount of the Tenant's budgeted Gross Revenues for such Lease Year. There shall be no reduction in Minimum Rent regardless of the result of the Period Revenues Computation. Provided, however, Rent shall be "trued up" for each quarter during the original Term, such that Rent payable hereunder shall in each Lease Year equal the greater of Minimum Rent or Percentage Rent, as the same is aggregated from quarter to quarter within each such Lease Year. If the Term begins or ends in the middle of a calendar year, then the number of calendar quarters falling within the Term during such calendar year shall constitute a separate Lease Year. In that event, the First Tier Gross Revenues Break Point and the Second Tier Gross Revenues Break Point shall be multiplied by a fraction equal to (x) the annual rent number of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 calendar quarters ($211,835.52including partial calendar quarters) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease Year divided by (y) four.
(d) Tenant shall deliver to Landlord a Certificate from an Officer of Tenant or Manager (an "Officer's Certificate") with each Percentage Rent payment setting forth the calculation of the Percentage Rent payment for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day most recently completed calendar quarter of each and every month during Lease Year in the Term and any extension or renewal thereofPercentage Rent year to date through such recently completed calendar quarter. Fixed Percentage Rent for any partial month shall be proratedsubject to confirmation and adjustment, if applicable, as set forth in Section 3.2. In The obligation to pay Percentage Rent shall survive the event any Fixed Rent, additional rent expiration or any other payments are not paid within ten (10) days earlier termination of the due Term, and a final reconciliation, taking into account, among other relevant adjustments, any adjustments which are accrued after such expiration or termination date thereofbut which related to Percentage Rent accrued prior to such termination date, Tenant shall be charged a late fee of 1.5% of made not later than 60 days after such late payment for each late payment for each month expiration or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordtermination date.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior pay to the Term Commencement Date. If no default occursorder of Landlord, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off or deduction during the Term except as provided herein, the Annual Base Rent, specified in Section 1.5 and the Additional Rent, at the times and in the manner set forth in this Lease. The Annual Base Rent applicable to each Phase of the Premises shall be due and payable in 12 monthly installments, in advance, commencing on the Rent Commencement Date applicable to such Phase of the Premises and continuing on the first day of each and every subsequent calendar month during the Term, in the amount as scheduled in Section 1.5; provided, however, if the Rent Commencement Date is not the first day of a month a prorated amount of the Annual Base Rent shall be due on the first day of the month in which the Rent Commencement Date occurs. In the event the Term and any extension of this Lease commences or renewal thereof. Fixed ends on a day other than the first or last day of a calendar month, then the Monthly Base Rent for any such partial month shall be proratedprorated in the proportion that the number of days this Lease is in effect during such partial month bears to the number of days in that calendar month, and such Monthly Base Rent shall be paid at the commencement of such partial month. In Tenant shall pay the event any Fixed Rent, additional rent Annual Base Rent and all Additional Rent by good check or any other payments are not paid within ten (10) days in lawful currency of the United States of America. If Tenant’s check is not good, then Landlord may require all further payments to be made by cashier’s check or official check, or wire transfer, at Landlord’s sole option. All forms of Rent due date thereof, Tenant under this Lease shall be charged a late fee paid to Landlord at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ or such other location as Landlord may designate in writing from time to time or by bank wire of 1.5% federal funds into Landlord’s account at: Bank of such late payment America, N.A.; ABA Routing No. ▇▇▇▇-▇▇▇▇-▇ for each late payment credit to Account No. 7313801638 for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion the benefit of additional remedies herein provided to LandlordFranklin ▇▇▇▇▇▇▇▇▇ Companies.
Appears in 1 contract
Sources: Office Lease Agreement (Roblox Corp)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the 3.1 Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed to Landlord the Annual Rent shall begin in effect from time to time by paying the Monthly Installment of Rent then in effect on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every full calendar month during the Term and Term, except that the first full month's rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any extension or renewal thereoftime shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Fixed Rent for any partial period during the Term which is less than a full month shall be prorateda prorated portion of the Monthly Installment of Rent based upon the number of days in such month. In Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the event any Fixed RentRent Payment Address, additional as set forth on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs with respect to the payment of rent, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or any other payments are not paid within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of:
(a) Fifty Dollars ($50.00), or (b) six percent (6%) of the due date thereof, unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be charged a late fee of 1.5% of such late payment reassessed and added to Tenant's obligation for each late successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or other payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordis unpaid after date due.
Appears in 1 contract
Sources: Lease (Rockford Corp)
Rent. The fixed (a) During the Term, Sublessee shall pay to Sublessor, monthly rent of $9,500.00 (hereinafter “Fixed "Monthly Rent”) payable by the Tenant during the original Term "). All such Monthly Rent shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five due and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin advance on the Term Commencement Date. Tenant shall deposit or before the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first (1st) day of each and every month during the Term without any prior demand or previous notice. If the Sublease Commencement or Termination Dates fall on a day other that the first day, or last day respectively, of a calendar month, Monthly Rent shall be prorated on a per diem basis at the rate of one-thirtieth (1/30th) of the Monthly Rent.
(b) Monthly Rent is all inclusive such that Monthly Rent includes, without limitation, Minimum Annual Rent and all operating expenses, utility charges, maintenance and janitorial fees, taxes, increases in insurance premiums maintained by Master Lessor, parking fees, telephone/fax service including local and long distance charges and any extension or renewal thereofreproduction charges. Fixed Rent for Under no condition shall Sublessee be required to pay any partial month shall be prorated. In the event any Fixed Rent, additional rent (as defined in the Master Lease) or any other payments are sums which may otherwise be due and payable pursuant to the Master Lease.
(c) Monthly Rent and any other sums payable by Sublessee hereunder shall be paid to Sublessor in lawful money of the United States at Sublessor's address provided above or as otherwise designated in writing to Sublessee. A late charge of five percent (5%) will be imposed with respect to Monthly Rent due hereunder that is not paid received by Sublessor within ten (10) days of following the due date thereofsuch rent was due. In addition, Tenant shall be charged a late fee of 1.5% of such late payment for each late shall bear interest at ten percent (10%) per annum, accrued monthly, from the date that it is fifteen (15) days past due to the date of payment for each month or portion thereof by Sublessee; provided, however, that said payment remains outstanding. Said late fee nothing contained herein shall be construed as permitting Sublessor to charge or receive interest in excess of the maximum rate then allowed by applicable law. Such late charge and interest shall be due and payable in addition to and not in exclusion with the next installment of additional remedies herein provided to LandlordMonthly Rent due hereunder.
Appears in 1 contract
Rent. 4.01 Tenant hereby covenant and agrees to pay to Landlord rent for the Premises as follows:
a) The fixed monthly rent (hereinafter the “Fixed Basic Rent”) payable by for the Tenant Premises shall commence upon the Commencement Date as set forth in Paragraph 3.2 above. If the Lease is effective after the first day of the month, the rent shall be prorated for that month.
b) Upon the commencement of Basic Rent provided for herein above, the monthly rent for the Premises shall be: Year Per Square Foot Monthly Payment (plus CAM, NNN)
c) In no event, however, shall the adjusted Basic Rent for any period be less than the Basic Rent during the original Term prior Lease Year.
d) All rents shall be paid without set-off or demand, and without abatement or deduction to Landlord at the annual address specified in this Lease, unless and until Tenant is otherwise notified. Time is of the essence in the payment of all forms of rent payable hereunder.
e) In addition to the Basic Rent described in this Paragraph 4.01, Tenant shall pay all utilities, taxes, insurance, fees, charges or assessments, and common area expenses imposed upon the Premises and The Falls Office Park and all other costs of Two Hundred Eleven Thousand Eight Hundred Thirty Five every nature and 52/100 kind arising by virtue of Tenant’s use and/or possession of the Premises and The Falls Office Park. It is intended that this Lease shall be a net, net, net Lease. Landlord shall have the right at any time and from time to time to adjust this estimated amount based on actual amounts incurred and on projected costs for fixture periods. When the actual amounts of such charges have been determined, and if Tenant shall have paid an amount less than it is required to pay, Tenant shall pay the balance due within ten ($211,835.5210) Dollars ($14.04 per square foot days after receipt of rentable floor area) payable in equal said statement, and if Tenant shall have paid an amount greater than it is required to pay, the additional amount shall be credited to ▇▇▇▇▇▇’s next such payments.
4.02 All monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Basic Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment CAM shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each the month in lawful money of the United States at the place Landlord shall designate from time to time, without notice, demand, set-off or deduction whatsoever. CAM Fees and every month during the Term all other monies due and any extension or renewal thereof. Fixed Rent for any partial month owing under this Lease shall be proratedconsidered additional rent. In the event any Fixed Rent, additional rent If Tenant shall fail to pay an installment of Basic Rent or any other payments are not paid installment of Adjustments to Rent (CAM) as set forth in Section 5 within ten five (105) days of the due date thereof, Tenant then Landlord shall be charged entitled to a late fee charge equal to ten percent (10%) of 1.5% such unpaid amount, provided, however, that nothing contained herein shall give Tenant the right to pay any such installment of Basic Rent other than on the due date thereof and ▇▇▇▇▇▇▇▇’s collection of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall not waive any other rights which Landlord may have hereunder or at law or in equity in respect to such late payments. Landlord and ▇▇▇▇▇▇ agree that such late charges represent a reasonable sum considering all of the circumstances existing on the date of this Lease, including the relationship of the sum to the loss to Landlord that could reasonably be payable anticipated by such non-payment by ▇▇▇▇▇▇, and the anticipation that proof of actual damages would be costly or inconvenient to determine.
4.03 In the event Tenant shall make any payment to Landlord of Basic Rent, Adjustments to Rent, or any other charge due under this Lease, and such payment is made by check, if such check is returned to Landlord due to non-sufficient funds available in addition the account on which it is drawn, or if such check is dishonored for any other reason whatsoever, Tenant shall immediately pay to Landlord the amount due in the form of a money order or cashier’s check together with a Seventy-Five and not No/100 Dollars ($75.00) processing fee to cover Landlord’s costs in exclusion processing the returned check. Landlord shall have the right thereafter to require that all future payments of additional remedies herein provided to Landlordrent by Tenant be made in the form of a money order, cashier’s check, or other means Landlord deems appropriate.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit pay to Landlord the first month’s rent with Landlord upon execution hereofBase Rent, to be held Real Property Taxes (as advance rental herein defined) and security to be forfeitedOperating Expenses (as herein defined), without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without noticewithout, except as required under this Leaseotherwise set forth herein, and without any abatementnotice, deduction demand, offset or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, anddeduction, in case of any nonpayment thereofadvance, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each calendar month. All Rent and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month payments required to be paid by Tenant to Landlord shall be proratedmade by Tenant payable to the 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 before 5:00 p.m. Eastern Time. In Upon the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days execution of the due date thereofthis Lease, Tenant shall pay to Landlord the first month’s Base Rent, the Security Amount, and the first monthly installment of estimated Operating Expenses (i.e., $62,100.56) (the “Pre-Payment”). If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be charged prorated on the basis of a thirty (30) day month. All sums other than Base Rent which Tenant is obligated to pay under this Lease shall be deemed to be additional rent due hereunder (“Additional Rent”), whether or not such sums are designated Additional Rent. The term “Rent” means the Base Rent and all Additional Rent payable hereunder. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late fee of 1.5% charge equal to eight percent (8%) of such delinquent sum and such delinquent sum shall also bear interest from the date such amount was due until paid in full at the lesser of (i) ten percent (10%) per annum; or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). The provision for such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee charge shall be payable in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not in exclusion of additional remedies herein provided to Landlordbe construed as a penalty.
Appears in 1 contract
Sources: Multi Tenant Industrial Triple Net Lease (Farmmi, Inc.)
Rent. (a) During the Lease Term, Tenant agrees to pay to Landlord an annual rental for each Lease Year in the dollar amount set forth below, subject to periodic adjustment, as provided hereinafter, for increases in Annual Operating Cost, as hereinafter defined (the amount of said annual rental being hereinafter called "Annual Base Rental"): Location of Space Number of Square Feet Rental Rate per Square Feet Annual Base Rental Suite 1500 9,084 $10.15 $92,202.60 The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term Annual Base Rental of $92,202.60 shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in advance, without demand, deduction or offset in equal monthly installments of $17,652.967,683.55 which are due in advance on the first day of each calendar month during the Lease Term. Such payments shall be made to Landlord at its principal offices as set forth in the Notice section hereof, or to such other place or places as Landlord may from time to time designate in writing to Tenant. If the Lease Term shall begin or terminate on any day except the first day of the month, a pro-rated monthly rental, based upon a thirty (30) day month, shall be paid for that portion of the month that falls within the Lease Term. As to both the Premises and the Building, the respective measurements of floor area as computed in accordance with the American National Standard Z65.1 – 1996 Method for Measuring Floor Space in Office Buildings, approved July, 1996, as may from time to time be subject to lease by Tenant and all tenants of the Building, respectively, as determined by Landlord measuring floor area on a consistent basis throughout the Building. Tenant’s obligations to pay Fixed Rent shall begin on Premises contains approximately 9,084 square feet of Rentable Area and approximately 9,084 square feet of Usable Area.
(b) The Annual Base Rental, as the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereofsame may hereafter be adjusted, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment payable promptly when due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, notice or demand therefor and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall reason whatsoever, except as may be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable expressly provided in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Sources: Lease Agreement
Rent. The Tenant agrees and covenants to pay Landlord an annual fixed rent in the amount of $60,000.00 per year (hereinafter “Fixed Base Rent”) payable by ), commencing on the Tenant during the original Term Commencement Date. Base Rent shall be payable in advance, without demand, on the annual rent first day of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable each calendar month in equal monthly installments of $17,652.965,000.00 and shall not be increased, abated or diminished except as set forth herein. TenantBeginning on January 1, 2026 and each January 1 of each year thereafter during the Term, the amount of Base Rent which shall be paid during each calendar year shall be increased above the preceding year’s obligations to pay Fixed Base Rent by 1.5%. If the Commencement Date is not the first day of a calendar month, the first month’s Base Rent shall begin be prorated, and shall be payable on the Commencement Date. In addition, Base Rent for the first full month of the Term shall be payable on the Commencement Date. Tenant shall deposit also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the first month’s rent with Additional Rent are hereinafter collectively referred to as the “Rent.” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in addition to all rights, powers and remedies provided herein, by law or otherwise in the case of nonpayment of Rent, Landlord upon execution hereofshall be entitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without abatement or suspension. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be held payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as advance rental otherwise expressly provided herein. It is the purpose and security intent of Landlord and Tenant that the Rent payable under this Lease be absolutely net to be forfeitedLandlord, without limitation or other remediessuch that this Lease shall yield (on an absolute net basis) the Base Rent specified in this Lease for each year of this Lease (prorated, as applicable, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordyear).
Appears in 1 contract
Sources: Lease Agreement (ETHEMA HEALTH Corp)
Rent. The A. During the Term, Tenant promises to pay to Landlord the rent reserved under this Lease, which shall consist of:
(i) an annual fixed rent (hereinafter hereinafter, the “Fixed Rent”) as follows: 1 $ 579,319.43 $ 48,276.62 2 593,802.42 49,483.54 3 608,647.48 50,720.62 4 623,863.66 51,988.64 5 639,460.26 53,288.36 Notwithstanding the foregoing, no Fixed Rent or Tax Rent shall be due until the Rent Commencement Date; provided, however, from and following the Commencement Date, Tenant shall be liable for all other charges payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and including, without any abatement, deduction or setofflimitation, all sumswater and sewer charges, impositionsall fuel, costs, expenses electricity and other payments utility charges which may be incurred at the Demised Premises (other than real estate taxes).
(ii) all other sums of money as shall become due and payable by Tenant in under this Lease (hereinafter, “Additional Rent”), all of which sums shall be payable as hereinafter provided. In the event any installment of Fixed Rent or Additional Rent required pursuant to the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided be paid by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are Tenant is not paid within ten (10) days of after the due date thereofdue, Tenant shall be charged pay to Landlord as Additional Rent a late fee charge of 1.5% four (4%) percent of the amount past due to cover Landlord’s administrative expenses incurred in connection with such late payment. In addition, Tenant shall pay, upon demand, as Additional Rent, interest on such late payment (i.e. which is not paid ten (10) days following the date due), at the Interest Rate, from the date due, until paid, and upon demand by Landlord any reasonable attorneys’ fees and disbursements incurred by Landlord in connection with the collection or payment of any Fixed Rent, Additional Rent and/or said administrative charge, due to Tenant’s failure to pay said amounts, as herein provided, after expiration of applicable notice and cure periods, said attorneys’ fees and disbursements to be deemed Additional Rent (to the extent Landlord is the prevailing party). Notwithstanding the foregoing, Landlord shall not impose the late charge or default interest on Tenant the first time in any twelve (12) month period that payment is not received by Landlord within such ten (10) day grace period, provided such payment is made within five (5) days after written notice.
(i) Tenant shall have the option of extending the Term for two additional terms (each term, a “Renewal Term”) of five (5) years each on the same terms and conditions as provided herein, except the Fixed Rent for each late payment Renewal Term as set forth below. Notice of the exercise of such options (“Extension Notice”) shall be delivered by Tenant to Landlord, in writing, no later than the first day of the twelfth (12th) month prior to the expiration date of the Initial Term or the first Renewal Term, as the case may be. Time shall be of the essence as to giving of the Extension Notice. Tenant’s right to extend the Term pursuant to this Section 2.B (i) shall be conditioned upon there being no default by Tenant which remains uncured after applicable notice and cure periods in the observance or performance of any of the material or financial terms, covenants and conditions of this Lease either at the time of the exercise of the option or on the expiration of the Initial Term or the first Renewal Term, as the case may be, and (ii) for the second Renewal Term, shall be conditioned upon Tenant having simultaneously exercising the renewal option contained in the “Retail Lease” (as hereinafter defined).
(a) If Tenant has elected to renew the Term of this Lease, as provided in subparagraph (i) above for the first Renewal Term, the Fixed Rent for the Premises shall be as follows: 6 $ 715,958.60 $ 59,663.22 7 720,530.52 60,044.21 8 725,131.62 60,427,64 9 729,762.12 60,813.51 10 734,422.17 61,201.85
(b) Except as provided in subparagraph (a) above, Tenant’s occupancy of the Premises during the first Renewal Term shall be on the same terms and conditions as were in effect immediately prior to the expiration of the initial term of this Lease.
(c) The termination of this Lease during the Initial Term hereof shall also terminate and render void any option or right on Tenant’s part to extend the term of this Lease pursuant to Section 2.B whether or not such option or right shall have theretofore been exercised.
(d) If Tenant exercises its right to extend the term of this Lease for the first Renewal Term pursuant to this Section 2.B, the words and phrases “Term”, “Lease Term”, “the term of this Lease” or “the term hereof” as used in this Lease, shall be construed to include the first Renewal Term, and the Expiration Date shall be construed to be the date of the expiration of the first Renewal Term.
(iii) If Tenant has elected to renew the term of this Lease, as provided in subparagraph (i) above for the second Renewal Term, (a) the Fixed Rent for the second Renewal Term shall be the Fair Market Rent for the second Renewal Term, as determined below and (b) at least 4 months prior to the commencement of the second Renewal Term, Landlord shall give to Tenant a notice (“Landlord’s Notice”) setting forth Landlord’s statement of the Fair Market Rent during the second Renewal Term, which shall be conclusive and binding as the basis for determining the annual Fixed Rent to be paid during the second Renewal Term unless (a) within 45 days after the giving of the Landlord’s Notice, or having failed to do so, 15 days following a reminder notice from Landlord to Tenant (in 12 point bold capital letters), Tenant shall notify Landlord that Tenant disputes Landlord’s statement of the Fair Market Rent, specifying Tenant’s statement (“Tenant’s Statement”) of the Fair Market Rent during the second Renewal Term and (b) if such dispute shall not be resolved by the commencement of the second Renewal Term, Landlord and Tenant shall within twenty (20) days after the commencement of the second Renewal Term, submit the dispute to arbitration pursuant to the provisions of subparagraph (iv) below. In the event such dispute is submitted to arbitration, the arbitrators shall determine the annual Fair Market Rent during the second Renewal Term in accordance with the instructions set forth in subparagraph (v), and a sum equal to said amount, subject to the provisions of this Lease, shall be the annual Fixed Rent payable by Tenant during the second Renewal Term; provided, however, that in no event shall the annual Fixed Rent payable by Tenant during each year of the second Renewal Term be less than $734,422.17 per annum (“Initial Term Escalated Rent”).
(a) If upon the commencement of the Renewal Term the annual Fixed Rent to be paid during the second Renewal Term shall not have been determined (by arbitration or by agreement of Landlord and Tenant), Tenant, effective as of the commencement of the second Renewal Term, shall pay on account of annual Fixed Rent, 50% of the sum of (i) the annual amount set forth in Landlord’s Statement and (ii) the annual amount set forth in Tenant’s Statement, subject to adjustment upon determination of such annual Fixed Rent. Under such circumstances, upon the determination of the annual Fixed Rent for the second Renewal Term, Tenant shall pay to Landlord within thirty (30) days after demand, any underpayment of annual Fixed Rent by Tenant since the beginning of the second Renewal Term and, in the event of any overpayment of such annual Fixed Rent by Tenant since the beginning of the second Renewal Term, Landlord shall credit the amount of such overpayment against the payments of annual Fixed Rent next coming due hereunder until such time as the overpayment has been fully credited to Tenant.
(b) Nothing in this Section 2 shall affect Tenant’s obligations to pay Additional Rent under this Lease. During the second Renewal Term, Tenant shall pay (a) Additional Rent in accordance with the provisions of Article 8, without change in any other provision of Article 8, including, without limitation, without change in the Base Year, and (b) all other Additional Rent payable under this Lease in accordance with the terms hereof, all of which shall be taken into account in determining fair market rental value for the Premises for the second Renewal Term.
(iv) In the event that, pursuant to the provisions of subparagraph (iv), the determination of the Fair Market Rent to be paid during the second Renewal Term is submitted to arbitration, then within twenty (20) days after commencement of the second Renewal Term, Landlord and Tenant shall each appoint a person as arbitrator on its behalf and shall notify the other party of such appointment. The arbitrators thus appointed shall appoint a third person who shall be impartial to act as an arbitrator hereunder, and such three arbitrators shall as promptly as possible determine the annual fair market rental value for the Premises during the second Renewal Term in accordance with the provisions of subparagraph (v); provided, however, that if the two arbitrators appointed by the parties shall be unable to agree within ten (10) days after the appointment of the second arbitrator, they shall give written notice to the parties of such failure to agree, and the parties shall attempt to agree on the appointment of an impartial third arbitrator. If the parties fail to agree upon the selection of such impartial third arbitrator within ten (10) days after the arbitrators appointed by the parties have given notice as aforesaid, then within fifteen (15) days thereafter, either of the parties upon notice to the other party may request such appointment by the American Arbitration Association (or any organization successor thereto) (“AAA”), or in its absence, refusal, failure or inability to act, may apply for a court appointment of such third arbitrator.
(v) The arbitration shall be conducted, to the extent consistent with this Lease, in accordance with the then prevailing rules of the AAA and the arbitrators shall be bound by the instructions set forth in this subparagraph (v). The first and second arbitrators appointed pursuant to subparagraph (iv) shall submit their respective determinations in writing to the third arbitrator within twenty (20) days after the appointment of the third arbitrator and such third arbitrator shall, within ten (10) days after submission of the first and second arbitrator’s respective determinations, select the annual fair market rental value in the opinion of the impartial third arbitrator (taking into account all relevant factors, including, without limitation, those set forth in this Section 2.B(v)). The impartial third arbitrator may not select any other rental amount. The arbitrator appointed by Landlord may not submit an amount in excess of the sum set forth in Landlord’s Statement and the arbitrator appointed by Tenant may not submit an amount less than the sum set forth in Tenant’s Statement. The decision by the third impartial arbitrator shall be in writing and shall be conclusive and binding on both Landlord and Tenant. In rendering such decision and award, the arbitrators shall not add to, subtract from or otherwise modify the provisions of this Lease. Judgment may be had on the decision and award of the arbitrator(s) so rendered in any court of competent jurisdiction. The arbitrators shall make their respective determinations based on the following, and the arbitrators shall be so instructed:
(a) The Fair Market Rent during the second Renewal Term shall be the then annual fair market rental value of the Premises, (1) without any reduction to reflect that Tenant saves moving expenses by exercising the renewal option, (2) without any reduction to reflect any discount for the length of the second Renewal Term for comparable space in comparable buildings in Soho, (3) taking into consideration any increases or possible increases in rental during the second Renewal Term then being included in leases for space in such comparable buildings based on changes in price indices, including the Consumer Price Index, cost of living or other similar increases, or periodic rental adjustments, (4) taking into account that the Premises is leased in its then “as is” condition, (5) assuming that the Premises are leased vacant and unencumbered by this Lease, (6) taking into account the size and condition of the Premises and the condition of the Building, the credit-worthiness of Tenant and Guarantor, and services provided by Landlord and Tenant under this Lease; (7) taking into account that the Base Year does not change during the second Renewal Term and (8) taking into account the increase in the Fixed Rent that occurs during the second Renewal Term as provided in Section 2.B(vi) below; (9) taking into account all other relevant factors as may be material and relevant to a proper determination of the annual fair market rental value for the Premises during the second Renewal Term, (10) taking into account the leasing by Tenant of Retail Premises, together with the Premises and (11) no tenant improvement allowance, or brokerage commission, if accurate, is being paid by Landlord.
(b) The Additional Rent payable by Tenant under this Lease shall continue to be payable during the second Renewal Term without any change in any provisions of Article 8 or any other provisions of this Lease relating to Additional Rent, including, without limitation, the Base Year.
(vi) The annual Fixed Rent determined by such arbitration, or pursuant to Section 2.B(x) below, shall increase no less than annually on a compounded basis, as determined by the arbitrators, taking into consideration increases in rental then being included in leases for office space in comparable buildings in the vicinity of the Premises but in no event less than 2 1⁄2% per Lease Year cumulatively.
(vii) Each party shall pay the fees and expenses of the one of the two original arbitrators selected by such party. The fees and expenses of the third arbitrator and all other expenses of the arbitration (other than the fees and disbursements of attorneys or witnesses for each month or portion thereof that said payment remains outstanding. Said late fee party) shall be payable borne by the parties equally.
(viii) Each arbitrator appointed pursuant to this Section 2.B shall have at least 10 years’ experience in addition the City of New York as a licensed retail appraiser or retail real estate broker in the City of New York.
(ix) Upon final determination of the Fair Market Rent for the Renewal Term pursuant to this Section 2.B, Landlord and Tenant, upon the demand of either of them, shall enter into a supplementary agreement to set forth the annual Fixed Rent for such Renewal Term; provided, however, that failure of either party to execute such supplementary agreement shall not affect the Fixed Rent due for the second Renewal Term pursuant to the foregoing provisions of this Section 2.B.
(x) The provisions of this Article 2.B, (iii) - (ix) shall be inapplicable and have no force or effect in exclusion the event that Landlord notifies Tenant in Landlord’s Notice that the annual Fixed Rent for the second Renewal Term shall be the Initial Term Escalated Rent, increasing 2 1⁄2% per Lease Year in lieu of additional remedies herein operating expense increases.
(xi) Except as provided in this Section 2.B, Tenant’s occupancy of the Premises during the second Renewal Term shall be on the same terms and conditions as were in effect immediately prior to Landlordthe expiration of the first Renewal Term of this Lease.
(xii) If Tenant exercises its right to extend the term of this Lease for a Renewal Term pursuant to this Section 2.B, the phrases “Term,” “the term of this Lease” or “the term hereof” as used in this Lease, shall be construed to include such Renewal Term, and the Expiration Date shall be construed to be the Extension Expiration Date.
(xiii) If Tenant does not timely send the Extension Notice pursuant to provisions of Section 2.B(i) hereof, this Section 2.B shall have no force or effect and shall be deemed deleted from this Lease. The termination of this Lease during the initial Term hereof shall also terminate and render void any option or right on Tenant’s part to extend the Term of this Lease pursuant to this Section 2.B whether or not such option or right shall have theretofore been exercised.
(xiv) If Tenant elects to renew or extend the term of this Lease and retains a broker, other than Broker, Tenant agrees to pay any and all brokerage commissions incurred in connection with such renewal and agrees to indemnify, defend and hold L
Appears in 1 contract
Sources: Lease (SoulCycle Inc.)
Rent. The fixed rent (hereinafter “Fixed Rent”A) payable by the Tenant Tenant, in consideration of this Lease, agrees to pay to Landlord, Basic Rent during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation received on or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each month in accordance with the following schedule:
(i) For the Lease Year January 1, 1997-December 31, 1997, seventy four thousand six hundred thirty dollars and every month during 88/100 dollars ($74,630.88) payable in twelve equal monthly installments of six thousand two hundred nineteen dollars and 24/100 dollars ($6,219.24);
(ii) For each of the Term Lease Years beginning January 1,1 998 through and any extension or renewal thereof. Fixed Rent for any partial month including the leas year beginning January 1, 2006 the following rental adjustment shall apply: The rental amount from the previous year shall be proratedadjusted by the Consumer Price Index, specifically the CPI for all Urban Consumers. The adjustment shall be no less than 3.5% per year and no more than 7% per year. In the event that tenant pays Landlord any Fixed installments of Basic Rent or Percentage Rent after the due date, or any Additional Rent (as hereinafter defined) later than the (5th) day after billing therefore, then and in such event, Tenant shall pay to Landlord, together with and in addition to said installment of Basic Rent or Additional Rent, additional rent a late charge of five percent (5%) of installment past due. Any installments of Basic Rent or any other payments are Additional Rent not paid made within ten (10) days from the date due shall, in addition to the foregoing late charges, bear interest from the date due at the rate of eighteen percent (18%) per annum (the “Default Rate”). If Landlord, during the Term of this Lease, receives two (2) or more checks from Tenant which are returned for insufficient funds. Landlord, in addition to applicable late charges and reimbursement for any additional cost incurred by reason of any returned check, may require, at Landlord’s election, that any future payment shall be either bank certified, cashier’s or treasurer’s check. None of the foregoing late charges shall be construed to limit or otherwise waive any other remedies available to Landlord for Tenant’s default under this Lease. Anything contained herein to the contrary notwithstanding, the late charges provided hereunder shall be abated for one violation each Lease Year, provided Tenant cures such late payment within five (5) days after written notice that the same is past due.
(B) Tenant shall tender all payments due date thereofhereunder by good check to Landlord c/▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or to such other party or such other address as Landlord may designate from time to time by written notice to Tenant. If Landlord shall at any time or times accept said Basic Rent or Additional Rent after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute a waiver of any or all of Landlords rights hereunder.
(C) This Lease is what is commonly called a “triple net lease”, it being understood that Landlord shall receive the rent free and clear of any and all other impositions, taxes, liens, charges, or expenses of any nature whatsoever in connection with the ownership and operation of the Premises. In addition to the Basic Rent, Tenant shall pay to the parties respectively entitled thereto all impositions, insurance premiums, utility charges (including but not limited to gas, fuel, electric, water, sewer, trash removal and telephone charges), operating charges, maintenance charges, construction costs, and any other charges, costs, and expenses which arise or may be charged a late fee contemplated under any provisions of 1.5% the Lease during the Term hereof. All of such late charges, costs, and expenses shall constitute Additional Rent, and upon the failure of Tenant to pay any of such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay Basic Rent. For purposes herein contained the term “Rent” shall refer to Basic Rent and Additional Rent. It is the intention of the parties hereto that this Lease shall not be terminable for any reason by the Tenant unless otherwise expressly permitted under the terms of this Lease and that Tenant shall in no event be entitled to any abatement of or reduction in Rent payable hereunder, except as herein expressly provided. Any present or future law to the contrary shall not alter this agreement of the parties. If Tenant defaults in the making of any payment for each late to any third party or in the doing of any act required to be made or done by Tenant, then Landlord may, but shall not be required to make such payment for each month or portion thereof that said payment remains outstanding. Said late fee do such act, and the amount of the expense thereof, if made or done by Landlord, within interest thereon at the Default Rate accruing from the date paid by Landlord, together with an additional charge of fifteen percent (15%) of the amount so paid to cover Landlord’s administrative costs, shall be paid by Tenant to Landlord and shall constitute Additional Rent hereunder due and payable in addition by Tenant upon receipt by Tenant of a written statement of costs from Landlord. The making of such payment or the doing of such act by Landlord shall not operate to and not in exclusion cure Tenant’s default, nor shall it prevent Landlord from the pursuit of additional remedies herein provided any remedy to Landlordwhich Landlord would otherwise be entitled.
Appears in 1 contract
Rent. Section 3.1 The fixed rent (hereinafter “Fixed Rent”) payable by Tenant shall pay to the Tenant Landlord, during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatementcounterclaim, deduction or setoff, all sumsexcept as otherwise provided herein, impositionsbasic rent (hereinafter "Term Basic Rent"), costs, expenses calculated in accordance with Section 3.2 and other payments which Tenant payable in any such coin or currency of the provisions United States of this Lease assume or agrees to pay, and, in case America as at the time of any nonpayment thereof, Landlord payment shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease be legal tender for the nonpayment payment of Fixed public and private debts.
Section 3.2 The Term Basic Rent shall accrue at the annual rates (hereinafter referred to as the "Annual Basic Rent. All Fixed Rent payments are due "), and shall be payable in advance without demand, deduction or set-off on the first day of each and every calendar month during the Term in the monthly installments of Term Basic Rent (hereinafter referred to as the "Monthly Basic Rent"), set forth below, except that a proportionately lesser sum may be paid for the first and last months of the Term of this Lease if the Lease Term commences on a date other than the first day of the month, in accordance with the provisions of this Lease hereinafter set forth. The Monthly Basic Rent, and any extension or renewal thereof. Fixed Rent for any partial month Additional Rent, shall be proratedpayable at the office of the Landlord, at the address above set forth, or as may otherwise be directed by notice from the Landlord to the Tenant. In Annual Monthly Months Basic Rent Basic Rent 1- 3 -- -- 4- 63 $297,815.04 $24,817.92 64-123 $349,932.72 $29,161.06 Notwithstanding anything contained herein to the event any Fixed Rentcontrary, additional rent the Tenant shall be entitled to an abatement of the first three (3) months of Monthly Basic Rent (but not of Additional Rent or any other payments are not paid within ten (10sum payable by the Tenant under this Lease) days of so long as the due date thereof, Tenant shall fully and faithfully perform all of its obligations hereunder. If, however, the Tenant shall at any time be charged a late fee of 1.5% of such late payment in default hereunder beyond any notice and cure period, the abatement provided for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee herein shall no longer be payable valid and the Tenant shall in addition to any other damages to which the Landlord shall be entitled to as a result of said default be obligated to reimburse the Landlord for the full amount of the aforesaid abatement.
Section 3.3 The Tenant shall, and not will, during the Term well and truly pay, or cause to be paid, to the Landlord, the Monthly Basic Rent as herein provided and all other sums that may become due and payable by the Tenant to the Landlord, hereunder, at the time and in exclusion the manner herein provided, without counterclaim, offset or deduction except as otherwise provided herein; and all other sums due and payable by the Tenant hereunder may, at the Landlord's option, be deemed to be, and treated as, Additional Rent, and added to any Monthly Basic Rent due and payable by the Tenant hereunder, and, in the event of additional nonpayment of such other sums beyond any notice and cure period, the Landlord shall have all the rights and remedies herein provided to Landlord.for
Appears in 1 contract
Sources: Lease Agreement (Simmons Co /Ga/)
Rent. The fixed With respect to the Lease, all base rent, additional rent and Charges (hereinafter as defined below) (collectively “Fixed Rent”) payable to the extent collected by Seller. Any Rent from Tenant collected after the Tenant during the original Term Closing shall be applied in the annual rent following order of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereofpriority:
a. First, to be held as advance rental and security to be forfeited, without limitation or other remedies, any Rent then owing for any default by calendar month or months following the calendar month in which the Closing occurred; and
b. Second, to any Rent owing for the calendar month in which the Closing occurred; and
c. Third, to any Rent owing for any calendar month or months preceding the calendar month in which the Closing occurred until the Tenant, under the applicable Lease, is current. For a period of ninety (90) days after the Closing, Buyer shall b▇▇▇ Tenant occurring for all amounts due under their Lease accruing prior to the Term Commencement DateClosing and shall use reasonable efforts to collect from Tenant any Rents owing with respect to the period before to the Closing. If no default occursTo the extent delinquent amounts for Rents for the period before the Closing (“Delinquent Rents”) are collected by Buyer, the payment subject to clauses a, b and c above, such amounts, net of reasonable costs of collection, including without limitation, reasonable attorney’s fees, shall be applied paid to Seller no later than thirty (30) days following the first monthly installment due hereunderdate on which such amounts have been received by Buyer or its agent. Buyer shall not be obligated to expend any funds or commence legal proceedings to collect any Delinquent Rents. In no event shall Seller commence any legal proceedings against Tenant after the Closing with respect to any Delinquent Rents. No later than one hundred twenty (120) days after the last day of calendar year of the Closing (the “Final Adjustment Date”), Seller and Buyer shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant make a final adjustment in any of accordance with the provisions of this Lease assume Section 10.1 of additional rents for which final adjustments or agrees to payprorations could not be determined at the Closing, andif any, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all because of the rights and remedies provided by law lack of actual statements, bills or provided for in the Lease invoices for the nonpayment current period, the year-end adjustment of Fixed Rent. All Fixed Rent payments are due in advance without demandtaxes and like items, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not reason. Except to the extent otherwise provided in Section 10.1.3, any net adjustment in favor of Buyer or Seller is to be paid within ten in cash by the other no later than thirty (1030) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of after such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordfinal adjustment has been made.
Appears in 1 contract
Rent. The fixed rent Tenant shall pay all Base Rent and Additional Rent (hereinafter “Fixed defined below) (collectively, "Rent”") payable by to Landlord or Landlord's agent, without prior notice or demand or any setoff or deduction, at the place Landlord may designate from time to time, in money of the United States of America that, at the time of payment, is legal tender for the payment of all obligations. As used herein, "Additional Rent" means all amounts, other than Base Rent, that Tenant during the original Term is required to pay Landlord hereunder. Subject to Section 1.4 and Section 2.1.1 above, monthly payments of Base Rent and monthly payments of Additional Rent for Expenses (defined in Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (collectively, "Monthly Rent") shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due paid in advance without demand, deduction on or set-off on before the first day of each and every calendar month during the Term Term; provided, however, that the installment of Base Rent for the first full calendar month for which Base Rent is payable hereunder and any extension or renewal thereofthe installment of Additional Rent for Expenses and Taxes for the first full calendar month for which such Additional Rent is payable hereunder shall be paid upon Tenant's execution and delivery hereof. Fixed Except as otherwise provided herein, all other items of Additional Rent shall be paid within 30 days after Landlord's request for payment. Rent for any partial calendar month shall be proratedprorated based on the actual number of days in such month. In Without limiting Landlord's other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the event overdue amount; and (b) any Fixed Rent, additional rent or any other payments are Rent that is not paid within ten (10) 10 days of the after its due date thereofshall bear interest, Tenant shall be charged a late fee from its due date until paid, at the lesser of 1.512% per annum or the highest rate permitted by Law (defined in Section 5). Tenant's covenant to pay Rent is independent of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordevery other covenant herein.
Appears in 1 contract
Sources: Office Lease (Nutanix, Inc.)
Rent. The Tenant agrees and covenants to pay Landlord an annual fixed rent in the amount of $480,000.00 per year (hereinafter “Fixed Base Rent”) payable by ), commencing on the Tenant during the original Term Commencement Date. Base Rent shall be payable in advance, without demand, on the annual rent first day of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable each calendar month in equal monthly installments of $17,652.9640,000.00 and shall not be increased, abated or diminished except as set forth herein. TenantBeginning on January 1, 2026 and each January 1 of each year thereafter during the Term, the amount of Base Rent which shall be paid during each calendar year shall be increased above the preceding year’s obligations to pay Fixed Base Rent by 1.5%. If the Commencement Date is not the first day of a calendar month, the first month’s Base Rent shall begin be prorated, and shall be payable on the Commencement Date. In addition, Base Rent for the first full month of the Term shall be payable on the Commencement Date. Tenant shall deposit also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the first month’s rent with Additional Rent are hereinafter collectively referred to as the “Rent.” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in addition to all rights, powers and remedies provided herein, by law or otherwise in the case of nonpayment of Rent, Landlord upon execution hereofshall be entitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without abatement or suspension. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be held payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as advance rental otherwise expressly provided herein. It is the purpose and security intent of Landlord and Tenant that the Rent payable under this Lease be absolutely net to be forfeitedLandlord, without limitation or other remediessuch that this Lease shall yield (on an absolute net basis) the Base Rent specified in this Lease for each year of this Lease (prorated, as applicable, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordyear).
Appears in 1 contract
Sources: Lease Agreement (ETHEMA HEALTH Corp)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit pay to Landlord the first month’s rent with Landlord upon execution hereofBase Rent, to be held Real Property Taxes (as advance rental herein defined) and security to be forfeitedOperating Expenses (as herein defined), without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Leasedemand, and without any abatement, deduction offset or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, anddeduction, in case of any nonpayment thereofadvance, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each calendar month. All Rent and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month payments required to be paid by Tenant to Landlord shall be proratedmade by Tenant payable to the 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 before 11:00 a.m. Eastern Time. In Upon the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days execution of the due date thereofthis Lease, Tenant shall pay to Landlord the third month’s Base Rent (subject to Abated Base Rent), the Security Deposit, and the first monthly installment of estimated Operating Expenses. If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be charged prorated on the basis of a thirty (30) day month. All sums other than Base Rent that Tenant is obligated to pay under this Lease shall be deemed to be additional rent due hereunder (“Additional Rent”), whether or not such sums are designated Additional Rent. The term “Rent” means the Base Rent and all Additional Rent payable hereunder. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late fee of 1.5% charge equal to ten percent (10%) of such delinquent sum and such delinquent sum shall also bear interest from the date such amount was due until paid in full at the lesser of (i) fifteen percent (15%); or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). The provision for such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee charge shall be payable in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not in exclusion of additional remedies herein provided to Landlordbe construed as a penalty.
Appears in 1 contract
Sources: Multi Tenant Industrial Triple Net Lease (Thorne Healthtech, Inc.)
Rent. 2.01 Tenant shall pay Landlord rent for the term of the Lease. The fixed rent is Three Thousand One Hundred and no/100 Dollars (hereinafter “Fixed Rent”$3,100.00) Gross Lease, payable as follows:
a. Tenant agrees to pay Landlord a minimum rental of $37,200.00 per year, payable in monthly installments of $3,100.00 commencing the first day of January, 2006.
b. The minimum rental rates referred to above shall be increased on a yearly basis by the Tenant during amount equal to the original Term Consumer Price Index (CPI) increase for the previous full calendar year of the Lease term; provided, however, that in no event shall the annual rental payable hereunder be increased to a total amount in excess of $3,410.00. For the purposes of this Lease, the CPI shall be the most current Index for Atlanta, Georgia, prepared by the Bureau of Labor Statistics for the United States Department of Labor.
2.02 It is the intention of Landlord and Tenant that the rent herein specified shall be net to Landlord in each year during the term of this Lease and Tenant shall be responsible, during the lease term and any renewals thereof, for the payment of the following charges attributable to the Leased Premises: monthly regime fees, real estate taxes and assessments, annual insurance, interior housekeeping and maintenance, electric water/sewer utilities and personal property insurance and Landlord shall be indemnified by Tenant against such costs, expenses and obligations.
2.03 The said rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable shall be paid to Landlord at the address indicated hereinabove, without notice or demand, without abatement, deduction, counterclaim or setoff. The net rent shall be paid in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every calendar month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. term of this Lease.
2.04 In the event of default by Tenant under this Lease, Landlord shall have the right, in its sole discretion, to pay or perform any Fixed Rentof the requirements and duties of Tenant hereunder, additional rent in which event Tenant shall immediately reimburse Landlord for any such sums actually expended by Landlord.
2.05 Tenant, concurrently with the execution of this Lease, had deposited with Landlord the sum of $____________, Dollars (“Security Deposit”) as security for the full and faithful performance of every provision of this Lease to be performed by Tenant. If Tenant defaults with respect to any provision of the Lease, including, but not limited to, the provisions relating to the payment of rent, Landlord may, at its sole discretion, use, apply or retain the Security Deposit against all or any other payments are not paid sum in default or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant’s default or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, Tenant shall, within ten five (105) days after written demand therefore, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount. Landlord shall not be required to keep the Security Deposit separate from its general funds and Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform each provision of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant (or at Landlord’s option, to the last assignee of Tenant’s interest hereunder) at the expiration of the due date thereof, Tenant shall be charged a late fee lease term and upon Tenant’s vacation of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordthe Premises.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by Tenant hereby agrees to pay the Tenant during rental payments stipulated below for the original Term entire term of the lease. Payments should be made to Alternative Realty Group, Inc. at the office of Oak Forest Estates or at such other place Landlord shall designate. Rent for the leased premises shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five paid in advance and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable without demand in equal monthly installments payments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin $ on or before the Term Commencement Date. Tenant shall deposit 1st day each month (Note: rent payment includes the first month’s rent with Landlord upon execution hereof, to be held as advance rental lot rent) commencing on and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to continuing thereafter until the Term Commencement Date. If no default occurs, the payment total sum shall be applied paid. The prorated rent from the date of move-in to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any day of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rentfollowing month is $ . All Fixed Rent payments are due in advance without demand, deduction or set-off The proration is payable on the first day of each and every the second month during of occupancy. One full month’s rent is due on move-in. If any rental payment is not paid in full on or before the Term and any extension or renewal thereof. Fixed Rent for any partial month 1st day of the month, a late penalty of $50.00 shall be proratedassessed and a late payment of $10.00 per day shall apply until the rental payment and all late payment penalties and fees are paid in full. In Tenant agrees to pay $50.00 charge for each returned check, plus initial and daily late charges from the event any Fixed Rentlate charge date until acceptable payment is received by Landlord. Violating the pet restrictions of this agreement, additional specifically cited in Paragraph 22, shall result in Tenant being evicted from premises. Tenant’s right to possession and Landlord’s obligations are expressly contingent upon the prompt payment of rent or any other payments are not paid within ten (10) days and the use of the due date thereofleased premises by Tenant is obtained only on the condition that rent is paid in full. Landlord may require that all monthly payments be paid in one monthly check, Tenant rather than multiple checks. All moneys received by Landlord shall be charged a applied first to non-rent obligations of the Tenant, including late fee charges, charges for returned checks, if any, then to rent, regardless of 1.5% of such late payment for each late payment for each month notations on the check. At Landlord’s option, Landlord may at any time require that all rent and other sums be paid by cashier’s check, certified check or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordmoney order.
Appears in 1 contract
Sources: Lease Agreement
Rent. 2.1 The fixed rent annual base rental (hereinafter “Fixed Rent”called "Annual Base Rental") payable by for the Tenant during the original Term Premises shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 THREE HUNDRED EIGHTY SIX THOUSAND FOUR HUNDRED SEVENTY THREE AND 68/100 DOLLARS ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) 386,473.68). The Annual Base Rental shall be payable in equal monthly installments of THIRTY TWO THOUSAND TWO HUNDRED SIX AND 14/100 DOLLARS ($17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed 32,206.14) (hereinafter called "Base Rent. All Fixed Rent payments are due ") in advance without demand, deduction or set-off on the first day of each and every calendar month during the Term and any extension or renewal thereofLease Term. Fixed Base Rent shall be prorated at the rate of 1/30th of the Base Rent per day for any partial month month. Beginning July 1, 1998 and each July 1 thereafter throughout the Lease Term, the Annual Base Rental and Base Rent shall automatically increase by an amount equal to three percent (3%) over the preceding twelve month's Annual Base Rental, and Base Rent. The first monthly Base Rent payment (for the period beginning June 15, 1997 through July 14, 1997) shall not be proratedrequired to be paid. In the event any Fixed or agrees to pay (whether designated Base Rent, additional rent rent, costs, expenses, damages, losses, or otherwise) (all of which are hereinafter called "Amount Due") as herein provided promptly at the times and in the manner herein specified without deduction, setoff, abatement counterclaim, or defense, except as otherwise provided for in this Lease. If any other payments are Amount Due is not received by Lessor within five (5) days after written notice following the date on which it is due, Lessee shall pay Lessor a late charge equal to five percent (50%) of the amount of such past due payment, notwithstanding the date on which such payment is actually paid to Lessor. If such Amount Due is not paid, within ten thirty (1030) days of the due date thereofon which it was originally due, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable then, in addition to such late charge, Lessee shall pay Lessor interest on such Amount Due from the date on which it was originally due until the date it is actually paid at a rate per annum equal to the lesser of (I) the prime rate of interest announced by Wachovia Bank of Georgia, N.A., or its successors, from in time to time for 90-day unsecured loans to its best commercial customers plus five percent (50%) or (ii) the maximum rate permitted by applicable law. Any such late charge and not interest shall be due and payable at the time of actual payment of the Amount Due. Any Amount Due payable to Lessor by Lessee shall be paid in exclusion cash or by check at the office of additional remedies herein provided Lessor, c/o ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇/▇▇▇▇▇▇▇, ▇▇▇., ▇▇▇▇▇ ▇▇▇, ▇▇55▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, Duluth, Georgia 30155, or at such other place or places as Lessor may from time to Landlordtime designate in writing.
Appears in 1 contract
Sources: Sublease (Towne Services Inc)
Rent. The fixed a. Tenant shall pay Landlord monthly base rent (hereinafter “Fixed Rent”) payable by in the Tenant during the original Term initial amount set forth in Section 1 which shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every calendar month during ("Base Monthly Rent") provided, however, the Term first month's rent shall be due and payable upon execution of this lease. See paragraphs 2 and 3 of the Addendum.
b. All rent shall be paid by Tenant to Landlord monthly in advance on the first day of every calendar month, at the address shown in Section 1, or such other place as Landlord may designate in writing from time to time. All rent shall be paid without prior demand or notice and without any extension deduction or renewal thereofoffset whatsoever. Fixed Rent All rent shall be paid in lawful currency of the United States of America. All rent due for any partial month shall be proratedprorated at the rate of 1/30th of the total monthly rent per day. Tenant acknowledges that late payment by Tenant to Landlord of any rent or other sums due under this Lease will cause Landlord to incur cost not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to ascertain. Late payment of rent shall be defined as any rent not paid prior to the 10th day of any month. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance or note secured by the Premises. Therefore, if any rent or other sum due from Tenant is not received when due, Tenant shall pay to landlord an additional sum equal to 10% of such overdue payment. Landlord and Tenant hereby agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment. Additionally, all such delinquent rent or other sums, plus this estate charge, shall bear interest at the then maximum lawful rate permitted to be charged by Landlord. Any payments of any kind returned for insufficient funds will be subject to an additional handling charge of $25.00, and thereafter, Landlord may require Tenant to pay all future payments of rent or other sums due by money order or cashier's check.
c. Upon the execution of the Lease, Tenant shall pay to Landlord the prepaid rent set forth in Section 1, and if Tenant is not in default of any provisions of the Lease, such prepaid rent shall be applied toward the rent due for the last month of the term. Landlord's obligations with respect to the prepaid rent are those of a debtor and not of a trustee, and Landlord can commingle the prepaid rent with Landlord's general funds. Landlord shall not be required to pay Tenant interest on the prepaid rent. Landlord shall be entitled to immediately endorse and cash Tenant's prepaid rent; however, such endorsement and cashing shall not constitute Landlord's acceptance of this Lease. In the event Landlord does not accept this Lease, Landlord shall return said prepaid rent.
d. If the term of this Lease contains any Fixed Rentrental abatement period, additional rent or any other payments are not paid within ten (10) days Tenant hereby agrees that if Tenant breaches the Lease and/or abandons the Premises before the end of the due date thereofLease term, Tenant shall be charged a late fee or if Tenant's right to possession is terminated by Landlord because of 1.5% Tenant's breach of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable the Lease, Landlord shall, at its option, (1) void the rental abatement period; and (2) recover from Tenant, in addition to any damages due Landlord under the terms and not in exclusion conditions of additional remedies herein the Lease, rent for the duration of the rental abatement period.
e. For purposes of Section 467 of the Internal Revenue Code, the parties to this lease agreement hereby agree to allocate the stated rents, provided herein, to Landlordthe periods which correspond to the actual rent payments as provided under the terms and conditions of this agreement."
Appears in 1 contract
Rent. The fixed rent Resident’s rental obligations are as follows:
(hereinafter a) Resident shall pay monthly Rent in the amount of $_______, in advance, on or before the first (1st) day of each calendar month (“Fixed Rent”) payable by ), beginning on the Tenant during Commencement Date of the original Term noted above. Rent shall be considered late after the annual rent fifth (5th) day of Two Hundred Eleven Thousand Eight Hundred Thirty Five the month at 5:00 p.m., (“Delinquency Date”) and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable a late fee shall be assessed as set forth in equal monthly installments of $17,652.96Section 2(c), below. Tenant’s obligations to pay Fixed Rent shall begin on If the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off hereof commences on the first day of the month, a full monthly Rent payment is due herewith; if not, the Rent payment for any initial, partial month of possession, is due pro rata herewith, and shall be based on a 30-day month, and a full payment thereafter is to be paid each and every month, in advance, on the first (1st) day of each month during the Term and any extension or renewal thereofterm of this Agreement. Fixed Any proration of Rent for any an initial, partial month month, or the corresponding proration for the last, partial month, shall be proratedon a per diem basis according to actual days of possession. The Rent may be adjusted from time to time by written notice or as required by law. Partial payments will not be accepted. Rent is due for the entire Term, regardless as to whether the dwelling is occupied. Subject to Sections 2(d) and 2(e), Resident shall be permitted to pay Rent via cash, check, or through Landlord’s online payment portal.
(b) Unless paying through Landlord’s online payment portal, Resident shall deposit Resident’s rental payment at Landlord’s office, or mail Resident’s rental payment to the following address so that it is received by Landlord, on or before the due date noted above.
(c) A late fee (“Late Fee”) of $50.00 may be assessed on any rent payment received after the Delinquency Date; the $50.00 fee being charged five days after the due date is based upon a $10.00 per day fee for those five days, totaling the $50.00 fee being charged on the sixth day of the month. The existence of a Late Fee is not to be construed by Resident as a waiver of the requirement that Rent payments are due on or before the first day of the month. Rent will be considered late unless and until rent is paid in full. No verbal communication shall be deemed to alter or waive any Late Fee duly owed, and shall not effect an extension of any cure period provided in a notice of past due Rent provided in accordance with Iowa law.
(d) In the event any Fixed Resident has been provided a three-day notice of past-due Rent, additional rent or any other payments are not paid within ten payment of Rent during the aforesaid period (10the “Delinquency Period”) days of the due date thereof, Tenant shall be charged a late fee governed by this Section 2(d). During the Delinquency Period, any partial payment of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee Rent tendered by Resident shall be payable and is hereby rejected, whether such payment was attempted or actually tendered, and regardless as to the payment method. If the Delinquency Period has expired without Resident curing the said default, attempted or actual tender of Rent in any amount made by Resident shall be and is hereby rejected regardless as to the payment method.
(e) Resident will be charged Landlord’s actual costs/fees incurred, if any, in connection with any dishonored/returned check, in addition to any resulting late fee for untimely payment, not to exceed any maximum fee permitted by law. Residents whose checks are dishonored/returned by a bank may be required to pay rent by cash, money order or cashier’s check for the remainder of the tenancy, at Landlord’s sole election.
(f) Any and not all Late Fees, charges, fines, or other amounts charged by Landlord to Resident under the Agreement or otherwise under the law shall be considered additional Rent and shall be paid in exclusion of additional remedies herein provided full with the next month’s Rent payment without demand. As noted above, Rent will be considered late unless and until rent is paid in full.
(g) Rent received shall be applied by Landlord: first, to any Late Fee; second, to Landlord’s actual costs/fees incurred in connection with any dishonored/returned check; third, to damages charged to Resident due to breach of this Agreement; and fourth, to Rent.
Appears in 1 contract
Sources: Home Site Rental Agreement
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the 3.1 Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations agrees to pay Fixed to Landlord the Annual Rent shall begin in effect from time to time by paying the Monthly Installment of Rent then in effect on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every full calendar month during the Term and Term, except that the first full month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any extension or renewal thereoftime shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Fixed Rent for any partial period during the Term which is less than a full month shall be prorateda prorated portion of the Monthly Installment of Rent based upon the number of days in such month. In Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the event any Fixed RentRent Payment Address, additional as set forth on the Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord, Tenant must implement such automatic payment system prior to the next scheduled rent payment or any other payments are not paid within ten (10) days of after Landlord’s notice, whichever is later. Unless specified in this Lease to the due date thereofcontrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent.
3.1.1 Notwithstanding anything in this Lease to the contrary, so long as Tenant is not in default under this Lease, Tenant shall be charged entitled to an abatement of Monthly Installment of Rent with respect to the Premises, as originally described in this Lease, in the amount of (a) $ per month for the period commencing on July 1, 2004 and continuing through December 31, 2004, and (b) $ per month for the period commencing on January 1, 2005 and continuing through June 30, 2005 (collectively, the “Abated Monthly Installment of Rent”). The maximum total amount of Abated Monthly Installment of Rent abated with respect to the Premises in accordance with the foregoing shall equal $ . Only Monthly Installment of Rent shall be abated pursuant to this Section, as more particularly described herein, and all other rent and other costs and charges specified in this Lease, including without limitation. Tenant’s Proportionate Share of Expenses and Taxes, shall remain as due and payable pursuant to the provisions of this Lease. In the event of a delay in the Scheduled Commencement Date as set forth in the second sentence of Section 2.1 above, each of the rent abatement periods set forth in clauses (a) and (b) above shall be delayed by an equal period of time.
3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within three (3) days of the date due and payable pursuant to this Lease, a late fee charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) three percent (3%) of 1.5% the unpaid rent or other payment. The amount of such the late payment charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each late successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordis unpaid after date due.
Appears in 1 contract
Sources: Sublease (Conceptus Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date4.01. Tenant shall deposit pay Landlord in lawful money of the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeitedUnited States of America, without limitation any setoff or other remediesdeduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for any default by Tenant occurring prior to the Term Commencement Date(collectively referred to as “Rent”). If no default occurs, the payment shall be applied “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to the first monthly installment due hereunderpay Landlord under this Lease. Tenant shall also pay as additional rent without noticeand be liable for all rental, except as required under this Leasesales and use taxes (but excluding income taxes), and without any abatementif any, deduction imposed upon or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided measured by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Base Rent payments are and recurring monthly charges of Additional Rent shall be due and payable in advance without demand, deduction or set-off on the first day of each and every calendar month during without notice or demand, provided that the installment of Base Rent for the first full calendar month of the Term following the Rent Abatement Period, and the first monthly installment of Expense Rent and Tax Rent, 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 30 days after billing by Landlord. All payments of Rent shall be made by electronic money transfer in accordance with Landlord’s written instructions regarding the same or by such other means or method of payment as Landlord may direct in writing. Unless otherwise notified in writing by Landlord, all payments of Rent shall be made by ACH transfer to Landlord in accordance with the following: Bank: Citizens Bank, Bank Address: ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Account Name: Equity Commonwealth, ABA Routing #: ▇▇▇▇▇▇▇▇▇, Account #: 1324602233, Reference: 605330. If Tenant does not pay any extension Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of 5% of the past due Rent, provided that Tenant shall be entitled to a grace period of up to 5 days after delivery of notice from Landlord for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at a rate (the “Interest Rate”) per annum equal to the lesser of (i) 12% per annum and (ii) 4 percentage points above the rate of interest then most recently publicly announced by a federally insured bank selected by Landlord as its “prime rate” or renewal thereof“base rate” (the “Prime Rate”) until paid in full, including after the entry of any judgment. Fixed If accrual or payment of interest at the Interest Rate should be unlawful, then the Interest Rate shall be the maximum legal rate. Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. 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 and acceptance of any such partial payment shall not be deemed a waiver of Landlord’s right to the full amount due. Rent for any partial month during the Term shall be proratedprorated based on the number of days in such month. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Sources: Office Lease Agreement (CrowdStrike Holdings, Inc.)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by On the date that Tenant during executes this Lease, Tenant shall deliver the original Term shall be executed Lease to Landlord. Subject to the annual rent provisions of Two Hundred Eleven Thousand Eight Hundred Thirty Five Section 40 below and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. required payment periods set forth therein, Tenant shall deposit deliver to Landlord the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment Advance Rent (which shall be applied to against the Base Rent applicable for the first monthly installment due hereundermonth that Tenant is required to pay Rent [i.e., the 7th month of the Lease Term]). Tenant shall also agrees to pay as additional rent without notice, except as required Landlord all Base Rent due under this Lease, and without any prior notice or demand, abatement, offset, deduction or setoffclaim, all sumsexcept as otherwise specifically provided herein, impositions, costs, expenses and other payments which Tenant in any advance at Landlord’s Address commencing on the 1st day of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all eighth (8th) month of the rights Lease Term and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off thereafter on the first (1st) day of each and every month during throughout the balance of the Term of the Lease. In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and any extension or renewal thereofthereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant’s Share of Operating Expenses and Tax Expenses pursuant to Section 6.3, Common Area Utility Costs, and Utility Expenses. Fixed The term “Rent” whenever used herein refers to the aggregate of all these amounts. During the Base Rent Abatement Period, Tenant shall continue to be liable for the payment of all Additional Rent. The Rent for any partial fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days a prorated amount of the due date thereof, Tenant Rent for a full calendar month based upon a thirty (30) day month. The prorated Rent shall be charged a late fee paid on the Commencement Date and the first (1st) day of 1.5% the calendar month in which the date of such late payment for each late payment for each month expiration or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordtermination occurs.
Appears in 1 contract
Sources: Lease Agreement (Linkedin Corp)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five covenants and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, andwithout demand and without any offset or deduction whatsoever, in case of any nonpayment thereof, and Landlord shall have in addition agrees to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease accept as rent for the nonpayment Premises, the amount of Fixed Rent. All Fixed Rent payments are due Two Thousand Four Hundred Thirty Two Dollars ($2,432.00), payable in advance without demandadvance, deduction or set-off on the first day of each calendar month, in equal installments of Two Hundred Two Dollars and every Sixty Six Cents ($202.66) a month during the term of this Lease. Rent shall be prorated for any initial or final fractional months of any Initial or Renewal Term of this Lease. Prorated rent due for any initial fractional month of the Lease shall be due on the date this Lease is executed. Landlord reserves the right, but shall not be obligated, to perform, or to pay for the performance of, any act required of Tenant hereunder or the cure of any default hereunder which is not performed by Tenant within any applicable grace period. Any sums so expended by Landlord shall be due and payable by Tenant immediately upon written demand. Any such sums, along with any other monetary obligations of Tenant hereunder, and any extension or renewal thereof. Fixed Rent for any partial month other sums so designated herein shall be proratedconsidered “Additional Rent.” All such rent and Additional Rent shall be payable and paid in lawful money of the United States of America, without relief from valuation or appraisement laws. All rent, Additional Rent and any other monetary obligations of Tenant hereunder which remain unpaid after written notice thereof from Landlord, shall bear interest at the rate of eight percent (8%) per annum. Tenant shall pay Landlord’s reasonable attorneys’ fees for collection of the same. In the event addition to interest, if Tenant fails to pay any Fixed Rent, additional rent or any other payments are not paid Additional Rent within ten (10) days of after the same becomes due date thereofand payable, Tenant shall be charged pay a late fee payment service charge of 1.5% of such late payment $50.00 for each late payment for full or partial calendar month that any such amount remains unpaid. At the end of each month calendar year, Landlord shall determine the amount of the aggregate percentage increase, during such calendar year, in the per unit costs of the heat, electricity, gas, water, sewage, or portion thereof that said payment remains outstandingany other utilities or utility services to the Old Vanderburgh County Courthouse. Said late fee Effective at the beginning of the subsequent calendar year, Landlord shall be payable entitled to an increase in addition to and not the rent due hereunder during such calendar year, which increase shall be based upon such aggregate percentage increase in exclusion of additional remedies herein provided to Landlordutility costs, if any, during the preceding year.
Appears in 1 contract
Sources: Lease Agreement
Rent. The fixed a. ▇▇▇▇▇▇ agrees to pay to Landlord, through its agent and at the address specified in paragraph 30 from August 1, 2025 through July 31, 2026, a monthly rent of $3,000.00 (hereinafter referred to as “Fixed Rent”) payable by for the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement DatePremises, without notice, setoff or demand. Tenant shall deposit pay Rent to Landlord on or before the first month’s rent with Landlord upon execution hereofday of each month during the term of the Lease.
b. Any money or sums, to be held as advance rental and security to be forfeitedother than Rent, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment due under this Lease shall be applied to the first monthly installment considered Additional Rent and shall be due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each month with the payment of Rent, without any deductions, set-offs or counterclaims, unless otherwise indicated in this Lease. The failure to pay Additional Rent carries the same consequences as ▇▇▇▇▇▇'s failure to pay Rent.
c. If any increase in fire or extended coverage insurance premiums paid by Landlord for the Building is caused by Tenant’s use and every month during occupancy of the Term and any extension or renewal thereof. Fixed Premises, then Tenant shall pay as Additional Rent for any partial month shall be prorated. the amount of such increase to Landlord.
d. In the event any Fixed sums required hereunder to be paid are not received by Landlord on or before the date the same are due, then, Tenant shall immediately pay, as Additional Rent, additional rent or any other payments are not paid within ten (10) days of a service charge equal to $50.00. In addition, interest shall accrue on all past due sums from the due date thereofthereof at an annual rate equal to 1% per month. Such interest shall also be deemed Additional Rent. Notwithstanding this service and interest charge, Tenant shall be charged a late fee in Default if all payments required to be made by Tenant are not made at or before the times herein stipulated.
e. On the date of 1.5% execution of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee the Lease by ▇▇▇▇▇▇, there shall be due and payable by Tenant a Security Deposit in addition the amount equal to one monthly rent installment, to be held by Landlord for the performance by Tenant of Tenant’s covenants and obligations under this Lease, it being expressly understood that the deposit shall not be considered an advance payment of rent or a measure of Landlord’s damage in exclusion case of additional remedies herein provided default by ▇▇▇▇▇▇. Upon the occurrence of any event of default, Landlord may from time to Landlordtime, without prejudice to any other remedy, use said Security Deposit to the extent necessary to make good any arrears of rent or repair, or reimburse Landlord for, any other damage, injury, expense or liability caused to Landlord by such default or misuse. Any remaining balance of said Security Deposit shall be returned to Tenant upon satisfactory compliance with terms herein, inspection and acceptance by Landlord of the vacated Premises.
Appears in 1 contract
Sources: Lease Agreement
Rent. The fixed rent 4.01 Commencing on the Office Space Commencement Date with respect to the Office Space and the Lab Space Commencement Date with respect to the Lab Space, Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Office Base Rent and Additional Rent due with respect to the Office Space and all Lab Base Rent and Additional Rent due with respect to the Lab Space for the Term (hereinafter “Fixed collectively referred to as "RENT"). "ADDITIONAL RENT" means all sums (exclusive of Base Rent”) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each and every calendar month during without notice or demand, provided that (i) the installment of Office Base Rent for the first full calendar month of the Term with respect to the Office Space (i.e., September, 2006) and any extension the first monthly installment of Additional Rent for Office Expenses and Office Taxes with respect to the Office Space shall be payable on or renewal thereofbefore the Office Space Commencement Date, and (ii) the installment of Lab Base Rent for the first full calendar month of the Term with respect to the Lab Space (i.e., December, 2006) and the first monthly installment of Additional Rent for Lab Expenses (as defined in EXHIBIT B) and Lab Taxes (as defined in EXHIBIT B) with respect to the Lab Space shall be payable on or before the Lab Space Commencement Date. Fixed All other items of Rent shall be due and 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, provided that Tenant shall be entitled to a grace period of 5 Business Days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum. Landlord's acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant's covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Sources: Office and Laboratory Lease Agreement (Combinatorx, Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) During the Term, Tenant must pay Landlord in advance, on the first day of each calendar month, the monthly Base Rent and monthly Estimated Expenses, without notice, demand, abatement, offset or deduction. Base Rent and Estimated Expenses shall be appropriately prorated by Landlord on a per diem basis for any partial month during the Term. Base Rent payable for the period from September 1, 2022, through September 30, 2022, and the first month of Estimated Expenses shall be paid by Tenant on or prior to the Lease Commencement Date. Any other Additional Rent shall be due and payable by the Tenant during the original Term shall on or before 10 days after billing by Landlord. Attached hereto as Exhibit D are instructions for all payments by Tenant to Landlord, which may be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96updated from time to time by written notice delivered by Landlord to Tenant. Tenant’s payment obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first monthunder this Lease are absolute and unconditional and independent covenants from Landlord’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required covenants under this Lease. If Tenant is delinquent in the payment of any Rent for more than 5 business days, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any shall pay to Landlord a late charge equal to 5% of the provisions of this Lease assume or agrees to pay, such delinquent sum and, if such delinquency continues for 30 days, interest on the late fee and unpaid Rent from the date such amount was due until paid in case of any nonpayment thereof, Landlord full at the Applicable Interest Rate. Said late charge shall have be in addition to any other rights and remediesremedies available to Landlord under this Lease, all of the rights at law, or in equity, and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rentshall not be construed as a penalty. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged also pay Landlord any cost incurred by Landlord in connection with a late fee of 1.5% of such late payment for each late payment for each month or portion thereof check presented by Tenant that said payment remains outstanding. Said late fee shall be payable in addition is declined due to and not in exclusion of additional remedies herein provided to Landlordinsufficient funds.
Appears in 1 contract
Sources: Lease (Repro Med Systems Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the A. Tenant covenants to pay to Landlord during the original Term shall be Lease Term, in lawful money of the annual rent United States of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeitedAmerica, without limitation prior notice, or other remediesdemand therefor and without any deduction, for any default by Tenant occurring prior to the Term Commencement Date. If no default occursdefense, counterclaim, setoff or abatement whatsoever except as otherwise expressly provided herein, the payment full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall be applied to the first monthly installment become due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatementall of which hereinafter may be collectively called “Rent.” In addition, deduction or setoffTenant shall pay, as Additional Rent, all sumsrent, impositionssales and use taxes or other similar taxes, costsif any, expenses and levied or imposed by any city, state, county or other governmental body having authority, such payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have be in addition to any all other rights and remedies, all payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the rights Rent on which the tax is based. Base Rent and remedies provided by law Additional Rent for each calendar year or provided for in portion thereof during the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are Term, shall be due and payable in advance without demand, deduction or set-off in monthly installments on the first day of each and every calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or the Lease Term terminates on a day other than the last day of a month, then the installments of Base Rent and any extension or renewal thereof. Fixed Additional Rent for any partial such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant's covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In the event addition, if Tenant fails to pay any Fixed Rent, additional rent installment of Base Rent and Additional Rent or any other payments are not paid within ten item of Rent when due and payable hereunder, a “Late Charge” equal to five percent (105%) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall unpaid amount will be due and payable in addition to and not in exclusion of additional remedies herein provided immediately by Tenant to Landlord.
Appears in 1 contract
Rent. The fixed During the Term, Tenant shall pay to Landlord base rent (hereinafter the “Fixed Base Rent”) payable by in the Tenant during the original Term following amounts: Period Base Rent Annual Monthly Months 24: 1- $50,000.00 $4,167.00 Months 36: 25- $51,500.00 $4,292.00 Months 48: 37- $53,045.00 $4,420.00 Months 60: 49- $54,636.00 $4,553.00 Base Rent shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable paid in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction on or set-off on before the first day of each and every month during the Term, without any set-off or deduction whatsoever, except as expressly provided herein. Any and all amounts due hereunder by Tenant other than Base Rent may be referred to as “Additional Rent” and Base Rent and Additional Rent may be referred to herein collectively as the “Rent.” Tenant’s obligation to pay Additional Rent shall commence on the Commencement Date. If the Commencement Date is other than the first day of a month or the Term and any extension or renewal thereof. Fixed ends other than on the last day of the month, the Rent for any partial such month shall be prorated. In prorated on the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days basis of the due date thereof, Tenant actual number of days in such month. Rent payable to Landlord shall be charged a late fee paid to Landlord at c/o CGM ▇▇▇▇▇, L.L.C., ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇. It is the intention of 1.5% of the parties hereto that, except for those expenses for which Landlord is expressly responsible under this Lease, Landlord shall have no obligation to pay any expenses whatsoever with regard to the Premises during the Term, as it may be extended, and that all such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee expenses shall be and hereby are the sole responsibility and obligation of Tenant. Except as expressly provided herein, no abatement, diminution or reduction of the Rent or other charges payable in addition by Tenant under this Lease shall be claimed by or allowed to and not in exclusion of additional remedies herein provided to LandlordTenant.
Appears in 1 contract
Sources: Lease Agreement
Rent. The fixed rent 4.1 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums (exclusive of Base Rent) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the first full calendar month of the Term, and every month during the Term first monthly installment of Additional Rent for Expenses and any extension Taxes, shall be payable upon the execution of this Lease by Tenant. Unless otherwise specifically set forth herein, all other items of Rent shall be due and payable by Tenant on or renewal thereofbefore thirty (30) days after billing by Landlord. Fixed 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 and initially shall be made as follows: If by Regular Mail: Normandy ▇▇▇▇▇▇▇▇▇ Road, LLC ▇.▇. ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ If by Overnight Mail/Courier: ▇▇ ▇▇▇▇▇▇ Chase - Lockbox Processing Normandy ▇▇▇▇▇▇▇▇▇ Road, LLC Lockbox 30930 4 Chase Metrotech Center Ground Level Courier on ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ If by Wire Transfer: Normandy ▇▇▇▇▇▇▇▇▇ Road, LLC Account No. 230460283 ABA : ▇▇▇▇▇▇▇▇▇ Bank: JPMorgan Chase Bank ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent that is not paid within five (5) days of the date when due. In addition, past due Rent shall accrue interest at the lesser of 12% per annum or the maximum rate allowed by law from the due date until actually paid. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent (as hereinafter defined) due for the Term (collectively referred to as “Fixed Rent”) payable by ). Base Rent shall commence on the Tenant during Commencement Date, subject to the original Term Base Rent Abatement Period. Anything herein to the contrary notwithstanding, an amount equal to the first full monthly installment of Base Rent, which shall be applied toward the annual rent sixth (6th) month of Two Hundred Eleven Thousand Eight Hundred Thirty Five the Term, plus any fraction of a monthly payment for any portion of a month at the commencement of the Term, shall be due and 52/100 payable together with the Security Deposit ($211,835.52as defined herein) Dollars upon the execution hereof. Landlord’s receipt of the foregoing payments shall be a condition precedent to the effectiveness of this Lease. All Additional Rent shall commence on the Commencement Date except as expressly provided otherwise. “Additional Rent” means all sums ($14.04 per square foot exclusive of rentable floor areaBase Rent) payable in equal monthly installments of $17,652.96. Tenant’s obligations that Tenant is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental or measured by Rent. Base Rent and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment recurring monthly charges of Additional Rent shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand. Unless otherwise specified herein to the contrary, all other items of Rent shall be due and every month during payable by Tenant on or before fifteen (15) days after billing by Landlord. Rent shall be made payable to the Term entity, and any extension sent to the address, Landlord otherwise designates and shall be made by good and sufficient check drawn on a local bank or renewal thereofby other means acceptable to Landlord. Fixed Tenant shall pay Landlord an administration fee equal to five percent (5%) of all past due Rent, provided that Tenant shall be entitled to a grace period of five (5) days for the first two (2) late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums (exclusive of Base Rent) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement DateLandlord under this Lease. Tenant shall deposit the first month’s rent with Landlord pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default measured by Tenant occurring prior Rent. Notwithstanding anything herein to the Term Commencement Date. If no default occurscontrary, the payment 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 applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the first full calendar month of the Term, and every month during the Term first monthly installment of Additional Rent for Expenses and Taxes, 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 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. If Tenant does not pay any extension Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the 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 oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or renewal thereofaccompanying any such payment from Tenant. Fixed Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Rent. The fixed TENANT hereby agrees to pay the LANDLORD as rent (hereinafter “Fixed Rent”) payable by for the Tenant during the original Term shall be the annual demised premises a monthly rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed <<Monthly Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off >> on the first day of each and every month during throughout the Term and any extension or renewal thereof. Fixed term of this Rental contract, for a total of <<Total Rent for Lease Term>>, which includes any partial month prorated rent for the first month. Should tenancy commence on a day other than the first (1st) of the month, the first month’s rent shall be proratedprorated or adjusted between the parties hereto so that all additional rental payments shall become due on the first (1st) day of each month. Rent payments are due on the first day of each month without deduction or offset for any reason, including assertions of LANDLORD’s failure to comply with lease terms. The monthly rental payments will be made electronically to Broadmoor Bluffs Realty’s account on the first business day of each month. RENTS WILL NOT BE PRORATED ON THE LAST MONTH OF TENANCY. TENANT WILL PAY THE FULL MONTH'S RENT FOR THE LAST MONTH. Any amounts due from the Tenant shall bear interest at the rate of 18% per annum.
A. TENANT must sign up for recurring electronic (Autopay) rent payment. Rent will be deducted from TENANT’s account on the first business day of each month. Rents are due on the first (1st) by 11:59pm, and are late after this. Rents not received by the PROPERTY MANAGER by 11:59pm MST on the eight (8th) calendar day will be assessed late fees (this includes a non-sufficient funds notice which causes the rent to be late). TENANT agrees to pay a late fee charge of five percent (5%) of the monthly rent past due. In emergencies, TENANT may pay by credit card (TENANT will incur credit card fees) or take cash to a local 7-Eleven or CVS with a form from the event PROPERTY MANAGER (TENANT will incur fee for this service also).
B. Monies received from tenants will first be applied to any Fixed Rentpreviously unpaid rent, additional prior to being applied to current rent.
C. A non-sufficient fund fee of fifty dollars ($50.00) shall be assessed to the TENANT for each returned electronic payment, check, bank draft, money-order, and non-sufficient funds notice.
D. A 10-day notice to pay rent and all fees will be delivered on the 9th of the month. TENANT will be charged a fee for delivery. If TENANT has not paid within the 10-day time period, Broadmoor Bluffs Realty will begin the eviction process.
E. TENANT should expect a rent rate increase to market value when renewing this rental contract.
F. LANDLORD cannot guarantee that the property will be available to TENANT on the lease start date. If the existing tenant fails to vacate as agreed or damage to the property, beyond LANDLORD'S control occurs, LANDLORD will take all appropriate steps to try to make the property available as quickly as possible. TENANT, under these circumstances, has the right to terminate the lease by giving notice to LANDLORD, but LANDLORD will not be liable for TENANT'S moving, living, storage or any other payments are expenses incurred because the property is not paid within ten (10) days available. Rent, as set out above, will be adjusted on a daily prorated basis for the time the property is not available.
G. TENANT may NEVER withhold rent, use rent as a set off to make repairs, or at any time fail to pay anything other than the full rental amount due, regardless of the due date thereofany breach or alleged breach of this lease by LANDLORD, Tenant except upon compliance with C.R.S. ▇▇-▇▇-▇▇▇ et seq. or HB19-1170.
H. It shall be charged a late fee violation of 1.5% of this lease for TENANT to interfere with the LANDLORD, PROPERTY MANAGER, or contractors to use rude, foul-mouthed, threatening, abusive and or insulting language when dealing with the LANDLORD PROPERTY MANAGER or contractors. TENANT will be provided one warning that such late payment for each late payment for each month or portion thereof that said payment remains outstandingbehavior is not acceptable and will not be tolerated. Said late fee If the behavior persists, TENANT will be served with a 10 day demand and shall be payable subject to eviction, and thereafter, all communications will be in addition writing and TENANT will not be allowed to enter PROPERTY MANAGER'S office, and not TENANT will be considered a trespasser.
I. TENANT shall be responsible for and shall repair all glass breakage caused by tenant or tenant's guest.
J. TENANT acknowledges that he has received the property in exclusion of additional remedies herein provided to Landlorda clean and orderly condition and under no circumstance shall dirt or cleaning be deemed normal wear and tear. TENANT shall be responsible for and shall leave the property in a clean and orderly condition.
Appears in 1 contract
Sources: Rental Contract
Rent. The fixed rent Tenant shall pay to Landlord or to any other Person designated in writing to Tenant by Landlord (hereinafter “Fixed Rent”) payable including any payments on behalf of and as agent for the Landlord as directed in writing by the Tenant Landlord, all of which amounts shall be deemed to be paid to Landlord), by wire transfer of immediately available federal funds or by other means acceptable to Landlord, acting reasonably, in lawful money of Canada which shall be legal tender for the payment of public and private debts, without offset, abatement, demand or deduction, Rent during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees as follows:
A. Tenant shall pay to payLandlord monthly Minimum Rent in advance equal to one-twelfth (1/12th) of the annual amount of Minimum Rent applicable for a Lease Year beginning on the Commencement Date and continuing on the first (1st) day of each calendar month thereafter; provided, andhowever, in case of any nonpayment thereof, Landlord that Minimum Rent shall have in addition be prorated as to any Lease Year which is less than twelve (12) calendar months and as to any partial calendar months, and Additional Minimum Rent shall be prorated to the extent that a Landlord Expenditure is made on a date other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on than the first day of a Lease Year or the first day of a calendar month.
B. Tenant shall pay to Landlord percentage rent (“Percentage Rent”) calculated for each and every month Fiscal Year in accordance with Schedule 3.1B. Percentage Rent shall be payable annually in arrears no later than forty five (45) days following the end of each Fiscal Year during the Term and any extension or renewal thereofhereof. Fixed Tenant shall deliver to Landlord a Certificate from a senior officer of Tenant (an “Officer’s Certificate”) with each Percentage Rent for any partial month shall be prorated. In the event any Fixed Rentpayment (or, additional rent or any other payments are not paid within ten (10) days of if no Percentage Rent is then payable, on the due date thereof, Tenant therefore) setting forth the calculation of the Percentage Rent payment for the most recently completed Fiscal Year. Percentage Rent shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable subject to confirmation and adjustment, if applicable, as set forth in addition to and not in exclusion of additional remedies herein provided to LandlordSection 3.2.
Appears in 1 contract
Sources: Sub Permit and Lease Agreement (CNL Lifestyle Properties Inc)
Rent. The fixed rent 4.01 Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums (exclusive of Base Rent) payable by the that Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations is required to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease. Commencing on the respective Rent Commencement Date, Base Rent and without any abatement, deduction or setoff, all sums, impositions, costs, expenses recurring monthly charges of Additional Rent shall be due and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due payable in advance without demand, deduction or set-off on the first day of each calendar month without notice or demand. All other items of Rent shall be due and every month during payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the Term entity, and sent to the address, Landlord designates and shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant does not pay any extension Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum if not paid within five (5) days of the due date, 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 oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or renewal thereofaccompanying any such payment from Tenant. Fixed Rent for any partial month during the Term shall be prorated. In the event any Fixed Rent, additional rent No endorsement or any other payments are not paid within ten (10) days of the due date thereof, Tenant statement on a check or letter accompanying payment shall be charged a late fee considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable every other covenant in addition to and not in exclusion of additional remedies herein provided to Landlordthis Lease.
Appears in 1 contract
Rent. The fixed 5.1. Monthly rent (hereinafter “Fixed Rent”) payable by that the Tenant shall pay to the Landlord during the original first Term of Lease within its meaning hereinabove shall be the annual monthly rent as specified hereinabove. Statutory VAT shall be added to the said rent.
5.2. In addition to the Rent, the Tenant shall make additional payment for the parking spaces, within their meaning hereinabove. The additional Parking Payment shall be paid together with the monthly rent and all terms set forth with regard to the monthly rent shall also apply to the additional Parking Payment.
5.3. At the time of signing this Agreement the Tenant shall furnish to the Landlord postdated checks for the entire Term of Lease in a manner that 7 days before commencement of each term of payment, within its meaning hereinabove, a check shall be repaid for each term of payment. The first check shall be a cash check as of the date of signing this Agreement. Two Hundred Eleven Thousand Eight Hundred Thirty Five months prior to commencement of each Option Term, and 52/100 ($211,835.52) Dollars ($14.04 per square foot to the extent that no notice was delivered regarding termination of rentable floor area) payable lease, the Tenant shall furnish to the Landlord new checks in equal monthly installments respect of $17,652.96the additional term, in accordance with the provisions set forth hereinabove, otherwise its right to exercise the option shall expire.
5.4. Tenant’s obligations to pay Fixed Rent shall begin on be paid in new Israeli shekels and shall be linked to the index in a manner that upon expiration of the Term Commencement Date. of Lease and upon expiration of each Option Term the Tenant shall deposit pay to the first month’s rent with Landlord upon execution hereofthe difference between linkage of each payment to the Basic Index and the Known Index, to be held as advance rental and security to be forfeited, without limitation or other remedieswithin their meaning hereinabove. In any event of delay in payment, for any default by reason that is contingent on the Tenant, the Tenant occurring shall make payment according to the index known on the payment date applicable in accordance with this Agreement, or on the date of payment – upon the higher.
5.5. In the event the Tenant vacated the Leased Premises for any reason prior to expiration of the first Term Commencement Date. If no default occursof Lease, or in the middle of an Option Term, the payment Tenant shall be applied obligated to pay rent for the entire Term of Lease and/or Option Term.
5.6. Without derogating from for any relief and/or remedy that Landlord may seek in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set forth in any law then any default in payment of any amount shall incur 1.5% interest per month.
5.7. A one-time default in payment for a period of up to 7 days shall not grant interest to the first monthly installment due hereunderLandlord as said. Tenant Default in payment for a period that is longer than 7 days shall also pay entitle the Landlord with interest in arrears as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each default and every month during until payment is made.
5.8. A default in payment for a period of 14 days shall constitute a fundamental breach of this Agreement, and in such circumstances the Term and Landlord shall not be obligated to deliver to the Tenant any extension additional notice prior to termination of the Agreement.
5.9. The said in this sub-clause shall not derogate or renewal thereofaffect the provisions set forth in clause 16 hereunder. Fixed Rent for any partial month Interest shall be prorateddeemed as rent.
5.10. In To dispel any doubt, furnishing the event any Fixed Rent, additional rent or any other payments are checks shall not be deemed as payment however only 3 days after their cashing on the dates designated for that purpose. Rent shall be paid within ten (10) days in the address of the due date thereof, Tenant Landlord or shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable deposited in addition to and not the Landlord’s bank account in exclusion of additional remedies herein provided to accordance with the instructions set forth by the Landlord.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed a) Commencing on the Rent Commencement Date, Subtenant shall pay to Landlord Annual Base Rent”) payable by the Tenant during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable , in equal monthly installments of $17,652.96. Tenant’s obligations the Monthly Base Rent (collectively referred to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held herein as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed " Base Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off ") on the first day of each and every month during the Sublease Term (partial months prorated).
(b) Commencing on the Rent Commencement Date, and continuing thereafter throughout the Sublease Term, Subtenant shall pay to Sublandlord, in addition to Base Rent, Additional Rent in equal monthly installments based on the portion of the estimates of such charges provided under the Prime Lease and allocable to the Sublease Space, and otherwise adjusted and reconciled as and when provided in the Prime Lease. Subtenant shall pay all other sums that are due in accordance with this Sublease not later than five (5) business days prior to the time Sublandlord is obligated under the Prime Lease to make any extension or renewal thereofsuch payment to Landlord. Fixed Rent for any partial month It is the intention of the parties that during the Sublease Term, Subtenant shall be prorated. In responsible for all financial obligations due under the event any Fixed Rent, additional rent or any other payments are Prime Lease except for the payment of Annual Base Rent and except as otherwise expressly provided in this Sublease.
(c) Any payment of Rent not paid within ten five (105) days of the due date thereof, Tenant shall be charged subject to a late fee charge of 1.5% five percent (5%) of such late payment. Any payment for each late payment for each month of Rent not paid within thirty (30) days of the due date also will bear interest at a per annum rate equal to the lesser of eighteen percent (18%) or portion thereof that said payment remains outstanding. Said late fee the maximum legal rate.
(d) All payments of Rent shall be payable made without demand (unless otherwise required in addition the Prime Lease) deduction or setoff, and shall be deemed to and not constitute Rent under this Sublease, in exclusion lawful money of additional remedies herein provided the United States. All payments of rent shall be paid to LandlordSublandlord’s Rent Address or such other place as Sublandlord may designate in writing.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”a) payable by the Tenant during the original Term shall be the pay to Landlord without setoff, deduction, demand, notice or counterclaim an annual rent for the Premises (the "Basic Rent") of Two Hundred Eleven Thousand Eight Hundred Thirty Five Ten and 52/100 ($211,835.52) 50/100 Dollars ($14.04 10.50) per square foot of rentable floor area) payable foot. Said Basic Rent shall be paid in equal monthly installments of Ten Thousand Five Hundred and 00/100 Dollars ($17,652.96. Tenant’s obligations to pay Fixed Rent 10,500.00) and shall begin be paid in advance on the Term first (1st) day of each and every calendar month during the Term, beginning on the Commencement Date. Tenant shall deposit ; provided, however, that if the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or Commencement Date occurs on a date other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off than on the first day of each a calendar month, Basic Rent shall be prorated from such date until the first day of the following month, at which time it shall be due and every month payable. Tenant shall pay the Basic Rent and all Additional Rent, if any (as defined under this Article 3), by good check or in lawful currency of the United States of America, to Landlord at, or to such other address or in such other manner as Landlord from time to time specifies by advance written notice to Tenant at, or such other address as Tenant from time to time specifies by advance written notice to Landlord. No installment of Basic Rent or Additional Rent shall be deemed paid until received by Landlord. Any payment made by Tenant to Landlord on account of Basic Rent may be credited by Landlord to the payment of any Basic Rent or Additional Rent then past due before being credited to Basic Rent currently due. All sums payable by Tenant under this Lease at any time during the Term and any extension or renewal thereof. Fixed Rent for any partial month Term, other than Basic Rent, if any, shall be prorated. In the event any Fixed deemed "Additional Rent," and, additional rent or any other payments are not paid within ten (10) days of the due date thereofunless otherwise set forth herein, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition the same manner as set forth herein for Basic Rent. All Basic Rent or Additional Rent not paid to Landlord when due and not payable hereunder shall accrue interest thereon until paid in exclusion full at the rate of additional remedies herein provided to Landlord___________ interest per annum.
(b) The Basic Rent includes Tenant's proportionate share of real estate taxes assessed against the Building and the Property.
(c) Tenant shall in all events be responsible for all taxes and assessments which may be assessed against any real or personal property of Tenant located within the Premises.
Appears in 1 contract
Rent. The fixed rent Tenant shall pay Landlord, without any setoff or deduction, all Base Rent and Additional Rent due for the Term (hereinafter collectively referred to as “Fixed Rent”). “Additional Rent” means all sums, except as specifically provided elsewhere in this Lease (other than Base Rent) that Tenant is required to pay Landlord under this Lease, including late fees and interest. 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 due and payable in advance on the first (1st) day of each calendar month without notice or demand. All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord, provided that the Tenant during installment of Base Rent and Additional Rent for the original first full calendar month of the Term shall be payable upon the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable Effective Date hereof as provided in equal monthly installments of $17,652.96Section 5 below. Tenant’s obligations to pay Fixed Rent shall begin on be made payable to the Term Commencement Dateentity and sent to the address Landlord designates. Tenant shall deposit pay Landlord an administration fee equal to 10% of the first amount of any Rent payments not paid on or before the sixth (6th) day of the month’s rent with Landlord upon execution hereof. In addition, to be held as advance rental and security to be forfeited, without limitation past due Rent payments not paid on or other remedies, before the sixth (6th) day of the month shall accrue interest at 12% per annum. Rent for any default partial month during the Term shall be prorated. Tenant shall pay Landlord an administrative fee of $50 if any check submitted by Tenant occurring prior to is returned unpaid for insufficient funds or any other reason. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. In the Term Commencement Date. If no default occursevent Tenant makes a partial payment of past due amounts, the payment shall be applied first to the first monthly installment due hereunder. Tenant shall also pay as additional rent without noticereduce all accrued unpaid late charges and interest, except as required under this Leasein inverse order of maturity, and without any abatement, deduction or setoff, then to reduce all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, andpast due amounts, in case inverse order of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlordmaturity.
Appears in 1 contract
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by a. During each year of the Term, the Tenant during agrees to pay to the original Term Landlord, without demand or set off, in lawful money of the United States, at the address specified in this Lease, or at such other location as the Landlord may hereafter designate in writing, Base Rent for the Premises in the amount of One Dollar ($1.00) per annum.
b. The annual Base Rent shall be the annual rent paid in full in advance. The first payment of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Base Rent shall begin be due and payable on or before the Term Commencement Date. Each subsequent annual payment of Base Rent shall be due and payable in advance on each anniversary date of the Commencement Date.
c. The Base Rent (if any), the Additional Rent (as defined below), and all other sums payable under the Lease shall be paid without notice, demand, counterclaim, set off, deduction, or defense and without abatement, suspension, diminution, or reduction, and the obligations and liabilities of the Tenant under the Lease shall deposit the first month’s rent with Landlord upon execution hereofin no way be released, to be held discharged, or otherwise affected by reason of any occurrence whatsoever, except as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to otherwise expressly provided in this Lease.
d. During the Term Commencement Date. If no default occursof this Lease, the payment shall be applied to the first monthly installment due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, ("Additional Rent") all sums, impositionsImpositions (as defined in the Section below), costs, expenses expenses, and other payments which that the Tenant in any of the provisions of this Lease assume or agrees is required to pay, andeither to the Landlord or to others, in case under the terms of this Lease. In the event of any nonpayment thereofnon-payment of Additional Rent, the Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the this Lease for the nonpayment non-payment of Fixed Base Rent. All Fixed The Base Rent payments are due and the Additional Rent shall sometimes be referred to together in advance without demand, deduction or set-off on this Lease as the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed “Rent, additional rent or any other payments are not paid within ten (10) days of the due date thereof, Tenant shall be charged a late fee of 1.5% of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable in addition to and not in exclusion of additional remedies herein provided to Landlord”.
Appears in 1 contract
Sources: Ground Lease
Rent. The fixed Tenant shall pay rent consisting of (hereinafter i) Base Rent, and (ii) all other sums that become payable by Tenant under this Lease (“Fixed Additional Rent”) payable by the Tenant during the original Term ). Base Rent and Additional Rent are referred to herein as “Rent.” All Rent shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable paid in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin advance on the Term Commencement Datefirst day of each month unless otherwise provided herein. Tenant shall deposit the first month’s rent pay to Landlord, with Landlord upon execution hereofall Rent, to be held as advance rental and security to be forfeitedany rent, without limitation transaction, privilege or other remedies, for tax now or hereafter imposed on any default by Tenant occurring prior to the Term Commencement DateRent. If no default occurs, the payment All Rent shall be applied paid in lawful money of the United States to the first monthly installment due hereunderLandlord, at such place as Landlord shall designate by written notice to Tenant from time to time. Tenant shall also pay as additional rent all Rent promptly when due without notice, except as required under this Lease, notice or demand therefor and without any abatement, deduction or setoffoff set, all sumsfor any reason whatsoever, impositions, costs, expenses and other payments which Tenant except as may be expressly provided in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed RentLease. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Base Rent for any partial month shall be prorated. In Base Rent for the event first full calendar month of the Term for which Base Rent is payable shall be paid upon execution of this Lease, and Base Rent for any Fixed Rent, additional rent or partial month at the beginning of the Term shall be due on the Commencement Date. If Landlord does not receive any other payments are not paid Rent within ten five (105) days of the due date thereofwhen due, Tenant shall be charged pay to Landlord an additional sum equal to ten percent (10%) of the overdue amount. Such late charge represents a late fee fair and reasonable estimate of 1.5% the costs that Landlord will incur by reason of any such late payment for each payment. The late payment for each month or portion thereof that said payment remains outstanding. Said late fee shall be payable charge is in addition to any and all remedies available to Landlord and the assessment and/or collection of the late charge shall not in exclusion be deemed a waiver by Landlord of additional remedies herein provided such failure or of any other default under this Lease. Additionally, all such delinquent Rent, plus any late charge, shall bear interest at the rate of nine percent (9%) 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 by Tenant is returned due to insufficient funds, Tenant shall pay all related charges and will, if required by Landlord, make all future payments by cashier’s check.
Appears in 1 contract
Sources: Purchase and Sale Agreement
Rent. The fixed rent a. As a consideration for this Lease and as rental for the Premises, Lessee agrees to pay or cause its Affiliate(s) to pay Rent, in an amount as determined in accordance with Exhibit F, on the first (hereinafter “Fixed Rent”1st) payable by the Tenant day of each quarter during the original Term. If the first day of a payment period under this Lease shall occur on a day other than the first day of the quarter, or if the last day of the Term under this Lease shall occur on a day other than the last day of the quarter, then the Rent due for such quarter shall be prorated accordingly.
b. District acknowledges that (1) pursuant to Article X of the annual rent Ten-Acre Lease, Lessee is entitled to receive a pro-rated credit for rental paid under the Ten-Acre Lease to the extent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot any portion of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance such rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring paid prior to the Term Commencement Effective Date but attributable to the period of time from and after the Effective Date, and (2) pursuant to Section 5 of the Option Agreement, Lessee is entitled to a pro-rated credit of the option fee paid under the Second Amendment to the Option to Lease to the extent of any portion of option fee paid prior to the Effective Date but attributable to the period of time from and after the Effective Date. If no default occursAccordingly, District acknowledges and agrees that any such credits under the payment Ten-Acre Lease and the Option Agreement shall be credited and applied towards any Rent due upon the Effective Date of this Lease. The amount of credit shall be determined as of the Effective Date and confirmed by the parties in the Effective Date Notice, and shall be equal to the first monthly installment due hereunder. Tenant sum of the prepaid rent under the Ten-Acre Lease and the prepaid option fee under the Second Amendment, in each case to the extent paid prior to the Effective Date but attributable to any period of time from and after the Effective Date.
c. Except as otherwise set forth in Section 13 below, it is intended that the Rent provided for in this Lease shall also pay as additional rent without notice, except as required under this Leasebe absolutely net to District throughout the Term, and without any abatementLessee accordingly covenants and agrees (subject to Section 11(f) hereof) to pay, deduction or setoffas they become due and payable and before they become delinquent, all sums, impositionstaxes, costs, expenses expenses, liabilities, and other payments which Tenant deductions with respect to the Premises, and/or the ownership, leasing, operation, maintenance, repair, use or occupation thereof, including without limitation the costs, charges and assessments hereinafter set forth in any of the provisions of this Lease assume or Lease.
d. Lessee agrees to pay, andor to cause its Affiliates or contractors to pay, to District as and when they accrue but without duplication, wharfage, port, harbor, and other charges, including dockage charges on District’s public docks (but not on any private dock constructed and operated by Lessee), for the use of its facilities at the rates published in case the Tariff containing authorized rates, rules, and regulations governing the Brownsville Ship Channel and its publicly-owned wharves, piers, and docks, as well as other lawful charges incurred to District by reason of Lessee’s operations on the Premises. For purposes of clarification, any amounts paid by Affiliates or contractors of Lessee shall be accepted by the District as if they had been paid by the Lessee, and there shall be no duplication of any nonpayment thereof, Landlord shall have in addition such fees payable by Lessee and its Affiliates or contractors. All Tariff rates except those applicable to dockage apply to any activity on the Premises, including but not limited to wharfage. All wharfage fees, port fees, and harbor fees for LNG and other rights gas products produced pursuant to the Permitted Use shall be at the same published rate in the Tariff as crude oil, refined petroleum products and remedies, all natural gas liquids per metric ton. One metric ton is equal to 2,204.6 pounds or 2.174 cubic meters of liquified natural gas. One metric ton is equal to 7.1475121 barrels of liquified natural gas. As of the rights Execution Date, the wharfage fee prescribed by the Tariff for crude oil, refined petroleum products and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. natural gas liquids is $0.095 per barrel which equals $0.679 per metric ton.
e. All Fixed Rent payments are due in advance without demand, deduction or set-off on the first day of each and every month during the Term and any extension or renewal thereof. Fixed Rent for any partial month shall be prorated. In the event any Fixed Rent, additional rent or any other payments are paid not paid within later than ten (10) days from the date when due; they shall thereafter bear interest at the rate of fifteen percent (15%) per annum from the date due date thereof, Tenant until paid. In the event such fifteen percent (15%) rate at any time shall be charged a late fee of 1.5% of such late payment for each late payment for each month illegal or portion thereof that said payment remains outstanding. Said late fee usurious under Applicable Law, it shall be payable in addition automatically reduced to and not in exclusion of additional remedies herein provided to Landlordthe highest lawful rate.
Appears in 1 contract
Sources: Lease Agreement (NextDecade Corp.)
Rent. The fixed Tenant agrees to pay the Landlord rent (hereinafter “Fixed Rent”) payable by for the Tenant during demised premises at the original Term shall be the annual rent rate of Two Four Thousand Five Hundred Eleven Thousand Eight Hundred Thirty Five Eighty-Three and 52/100 ($211,835.52) 33/100 Dollars ($14.04 4,583.33) "base rent" per square foot of rentable floor area) payable month in equal advance. One such monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeited, without limitation or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occurs, the payment installment shall be applied to due and payable on or before the first beginning date of this lease, and a like monthly installment shall be due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatement, deduction payable on or setoff, all sums, impositions, costs, expenses and other payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are due in advance without demand, deduction or set-off on before the first day of each and every succeeding calendar month during the Term term hereof; provided that, in the event the term hereof shall commence or end during a calendar month, the rent for any fractional calendar month following the commencement or preceding the end of the term of this lease shall be pro rated by days. (If percentage rent is to be payable to Landlord, refer to Exhibit A attached to this lease. In such case Exhibit A shall be incorporated into and become a part of this lease when physically attached hereto.) Tenant has deposited with landlord, upon delivery of this lease, Nine Thousand One Hundred Sixty-Six and 66/100 Dollars ($9,166.66) to be applied as follows:
(a) $4,583.33 for rent for the month of January, 1990.
(b) $4,583.33 as a security deposit. Such security deposit shall be held by Landlord without interest as security for the performance by Tenant of Tenant's covenants and obligations under this lease. The security deposit is not an advance payment of rental or the full measure of liquidated damages in case of default by Tenant. Upon the occurrence of any event of default, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use the security deposit to the extent necessary to make good any arrears of rent and any extension other damage, injury, expense or renewal thereofliability caused to Landlord by such event of default. Fixed Rent for Following any partial month such ---------------- 1 Landlord agrees to use its best efforts to vacate the demised premises by December 15, 1989. If Landlord vacates the demised premises early, the commencement date of the lease shall be prorated. In the event any Fixed Rent, additional rent or any other payments are not paid within ten (10) days sooner of the due date thereofTenant occupies the demised premises or five days after Landlord gives Tenant written notice it may occupy the demised premises. Notwithstanding the above, provided that Tenant [illegible]. 2 application of the security deposit, Tenant shall be charged a late fee of 1.5% pay to Landlord, on demand, the amount so applied in order to restore the security deposit to its original amount. If Tenant is not in default, hereunder, any remaining balance of such late payment for each late payment for each month or portion thereof that said payment remains outstanding. Said late fee deposit shall be payable in addition returned by Landlord to and not in exclusion Tenant upon expiration or termination of additional remedies herein provided to Landlordthis lease.
Appears in 1 contract
Sources: Net Commercial Lease Agreement (Carpenter W R North America Inc)
Rent. The fixed rent (hereinafter “Fixed Rent”) payable by the A. Tenant covenants to pay to Landlord during the original Term shall be the annual rent of Two Hundred Eleven Thousand Eight Hundred Thirty Five and 52/100 ($211,835.52) Dollars ($14.04 per square foot of rentable floor area) payable in equal monthly installments of $17,652.96. Tenant’s obligations to pay Fixed Rent shall begin on the Term Commencement Date. Tenant shall deposit the first month’s rent with Landlord upon execution hereof, to be held as advance rental and security to be forfeitedLease Term, without limitation any setoff or other remedies, for any default by Tenant occurring prior to the Term Commencement Date. If no default occursdeduction except as otherwise expressly provided herein, the payment full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall be applied to the first monthly installment become due hereunder. Tenant shall also pay as additional rent without notice, except as required under this Lease, and without any abatementall of which hereinafter may be collectively called "Rent." In addition, deduction or setoffTenant shall pay, as Additional Rent, all sumsrent, impositionssales and use taxes or other similar taxes, costsif any, expenses and levied or imposed by any city, state, county or other governmental body having authority, such payments which Tenant in any of the provisions of this Lease assume or agrees to pay, and, in case of any nonpayment thereof, Landlord shall have be in addition to any all other rights and remedies, all payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be paid concurrently with the payments of the rights Rent on which the tax is based. Base Rent and remedies provided by law Additional Rent for each calendar year or provided for in portion thereof during the Lease for the nonpayment of Fixed Rent. All Fixed Rent payments are Term, shall be due and payable in advance without demand, deduction or set-off in monthly installments on the first day of each and every calendar month during the Lease Term, without demand by Landlord (any rent statement sent by Landlord to Tenant shall be sent as a courtesy and shall not be binding on Landlord nor limit Landlord's right to correct any such statement at a later date). If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and any extension or renewal thereof. Fixed Additional Rent for such month or months shall be prorated, based on the number of days in such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Except as otherwise expressly set forth in Section 38 of this Lease, ▇▇▇▇▇▇'s covenant to pay Rent shall be independent of every other covenant set forth in this Lease.
B. If Tenant fails to pay any partial installment of Base Rent and Additional Rent or any other item of Rent within five (5) days after the same is due and payable hereunder, a "Late Charge" equal to five (5¢) cents for each dollar so overdue shall be assessed in order to defray Landlord's additional administrative and other costs in connection with such late payment. Late charges not paid by the first day of the next month shall be prorateddeemed Additional Rent. In the event any Fixed Rent, additional rent that Tenant is in arrears in payment of Base Rent or Additional Rent or any other payments are not paid within ten (10) days of the due date thereofcharge, Tenant waives Tenant's right, if any, to designate the items against which any payments made by Tenant are to be credited, and ▇▇▇▇▇▇ agrees that Landlord may apply any payments made by Tenant to any items Landlord sees fit, irrespective of and notwithstanding any designation or request by Tenant as to the items against which any such payments shall be charged a late fee credited. Landlord reserves the right, without liability to Tenant without constituting any claim of 1.5% constructive eviction, to suspend furnishing or rendering to Tenant any overtime/over standard property, material, labor, utility or other service, wherever Landlord is obligated to furnish or render the same at the expense of such late payment for each late payment for each month Tenant, in the event that (but only so long as) Tenant is in arrears in paying Base Rent or portion thereof additional rent due under this Lease. In addition, Landlord may (without releasing Tenant from any liability under this Lease) suspend furnishing to Tenant freight elevator service at the time Tenant desires or is obligated to vacate or remove any property from the Premises in the event that said payment remains outstanding. Said late fee Tenant is in arrears in paying any Base Rent or additional rent due under this Lease, unless the dispute is the subject of good faith litigation or arbitration.
C. The Additional Rent payable hereunder shall be payable adjusted from time-to-time in addition to and not in exclusion accordance with the provisions of additional remedies herein provided to LandlordExhibit C attached hereto.
Appears in 1 contract
Sources: Office Lease (Monro, Inc.)