Common use of Rent Clause in Contracts

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Sublease (Evolus, Inc.)

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Rent. (a) Commencing 4.1 The consideration payable by Subtenant for the Premises shall consist of the Base Rent under Section 4.2, the Additional Rent under Section 4.3 and the Other Charges under Section 4.4. Base Rent, Additional Rent and Other Charges are collectively referred to as "Rent." Subtenant's covenant to pay Rent shall be independent of every other covenant in this Sublease. 4.2 Beginning on the Commencement DateDate and continuing thereafter on the first day of each month during the Term, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Subleasein advance, and without offsetnotice, demand, deduction or abatementoffset, which Monthly the monthly Base Rent shall be specified in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00)Basic Sublease Provisions. Monthly Base Rent for any partial month at will be prorated, based on a thirty (30) day month. Subtenant shall pay the beginning or first full month's Rent on the end Execution Date, and if the Commencement Date is not the first day of the term of this Sublease month, then Subtenant shall be pay the prorated Rent for the first partial month on the basis of a 30-day monthCommencement Date. (b) In addition to Monthly Base Rent4.3 Throughout the Term, Subtenant is responsible for the payment of the following: (i) the Parking Charges also shall pay as "Additional Rent" an amount equal to Subtenant's Share (as defined specified in Section 14the Basic Sublease Provisions) of all additional rent payable by Sublandlord under the Master Lease, below)insofar as applicable to the period encompassed by the Term, (ii) the actual to reimburse Master Landlord for taxes, insurance, operating expenses, common area maintenance charges, management fees, capital expenditures for required repairs or improvements, and/or other expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests in connection with the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease Building (collectively, “Additional Rent”"Master Lease Pass Through Costs"). All such amounts To the extent Master Lease Pass Through Costs are payable on a monthly estimated basis, the Additional Rent in respect thereto shall be payable in full by paid as and when Base Rent is due based on Master Landlord's estimates; and upon any reconciliation of estimated and actual Master Lease Pass Through Costs, the corresponding Additional Rent shall be adjusted between Sublandlord and Subtenant as directed by Sublandlord (with appropriate reimbursements or additional payments) within ten twenty (1020) days after submission delivery to Subtenant of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive any reconciliation statement under the expiration or earlier termination Master Lease. For purposes of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay calculating Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any rely conclusively on Master Landlord's determination of estimated and all remedies for such Defaultactual Master Lease Pass Through Costs.

Appears in 1 contract

Samples: Sublease (E Centives Inc)

Rent. (a) Commencing on A. Subtenant covenants and agree to pay to Sublandlord, in lawful money of the Commencement DateUnited States, Subtenant shall pay monthly base full service gross fixed rent (“Monthly Base "Fixed Rent") equal to thirty-five (35%) percent of all Fixed Rent, Escalation Rent and Electricity Charges payable by Sublandlord during for the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of period corresponding to the term of this Sublease pursuant to and as defined in the Prime Lease. Currently, Sublandlord pays $83,352 per month and accordingly Fixed Rent herein shall initially be at the rate of $29,173.20 per month. In addition, if and to the extent Subtenant shall request overtime or additional services as provided for in paragraphs 2(h) and 2(i) of the Prime Lease, then Subtenant shall be solely responsible for the additional costs incurred. Subtenant shall pay the first monthly installment of Fixed Rent payable under this Sublease on execution of this Sublease. Sublandlord shall accompany its invoices for Fixed Rent and other charges with a copy of the applicable invoice from Overlandlord or Prime Landlord, as the case may be. (a) Fixed Rent shall be due and payable in equal monthly installments in advance, three (3) Business Days prior to the first day of each month during the Term. If the Commencement Date shall be other than the first day of a month, the monthly installments of Fixed Rent payable hereunder for any such month shall be prorated on a per diem basis based on the basis actual number of a 30-day days in such month. (b) In addition All of the amounts payable by Subtenant pursuant to Monthly Base this Sublease, including, without limitation, Fixed Rent, additional rent, and all other costs, charges, sums and deposits payable by Subtenant is responsible for the payment of the following: hereunder (i) the Parking Charges (as defined in Section 14collectively, below"Rent"), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges shall constitute rent under this Sublease and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by or its designee at such address as Sublandlord shall from time to time direct in writing. (c) Subtenant shall promptly pay the Rental as and when the same shall become due and payable without setoff, offset or deduction of any kind whatsoever and, in the event of Subtenant); (iii) any charges permitted by and pursuant 's failure to the Sublease or the Master Lease as a result of actions or omissions pay same when due, Sublandlord shall have all of the rights and remedies provided for in the Prime Lease or at law or in equity in the case of nonpayment of rent. Subtenant; and 's obligation to pay Rental shall survive the expiration or sooner termination of this Sublease. (ivd) If any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts Rental shall not be payable in full by Subtenant as directed by Sublandlord paid within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and the same is due hereunder such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due unpaid Rental shall bear interest from the date on which such Rental was originally due until the date when paid at the a rate of ten percent which is three (103%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure cent in excess of the prime or base reference lending rate from time to pay on the first day of a month the Monthly Base Rent payment for such month as a Default time quoted by Subtenant, and shall be entitled to Citibank N.A. (or any and all remedies for such Defaultsuccessor thereto).

Appears in 1 contract

Samples: Sublease Agreement (Lumenis LTD)

Rent. (a) Commencing on 4.1. As rent and subject to the Commencement Dateterms and conditions of this Lease, Subtenant Tenant shall pay monthly base full service gross rent the sums described in Section 1 (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). No additional payments of money shall be required of Tenant. Rent shall not be reduced or abated merely because of the surrender of certain portions of the Premises, as described in Section 2. However, the Rent shall not include (and Tenant shall not be required to pay) any increase in normal operating costs to the extent attributable to Landlord's occupancy of or activities on the Premises, 9/12/2013 12:02 PM such as, but not necessarily limited to, the following (a) increases in real and personal property taxes levied or assessed against Landlord's own improvements or personal property, (b) increases in insurance premiums properly attributed to Landlord's actual use or occupancy, and (c) increases in utility charges over and above the historic level of utility charges experienced by Tenant that are equitably allocated to Landlord's use. 4.2. All such amounts payable or reimbursable by Tenant under this Lease, including late charges and interest, shall constitute Rent and shall be payable and recoverable as Rent in full by Subtenant as directed by Sublandlord the manner provided in this Lease. Unless otherwise specified in this Lease, all sums payable to Landlord on demand under the terms of this Lease shall be payable within ten (10) days after submission notice from Landlord of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Subleaseamounts due. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional All Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid without offset, recoupment or deduction, in lawful money of the United States of America to Sublandlord 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 applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate writing or on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) check or money order, shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due modify this clause or $100, whichever is greater, for have any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultforce or effect.

Appears in 1 contract

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

Rent. 3.1. The rent ("Rent") payable during the Term under this Sublease shall consist of the following: (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly "Base Rent") in an amount equal to Sublandlord during the percentage calculated by dividing the Master Office Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Office Lease (the "Master Office Lease Percentage") of any minimum rent, increases in minimum rent and any other fees, charges and amounts payable by Sublessor, as tenant, to Landlord pursuant to Section 3 of the Master Office Lease, and the percentage calculated by dividing the Master Storage Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Storage Lease (the "Master Storage Lease Percentage") of any minimum rent, increases in minimum rent and any other fees, charges and amounts payable by Sublessor, as tenant, to Landlord pursuant to Section 2 of the Master Storage Lease (the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent "Sublease Percentage" shall hereinafter be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition used to Monthly Base Rent, Subtenant is responsible for the payment of the following: collectively refer to (i) the Parking Charges (as defined in Section 14Master Office Lease Percentage with respect to that portion of the Premises being leased by Sublessor pursuant to the Master Office Lease, below), and (ii) the actual expenses incurred Master Storage Lease Percentage with respect to that portion of the Premises being leased by Sublandlord for any additional services requested by Subtenant that are Sublessor pursuant to be provided by the Master Landlord (i.e.Storage Lease), if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord amounts described in this Section 3.1(a) shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord calculated on a monthly basis and shall be payable by Sublessee to Sublessor. In the event that the size of the premises leased by Sublessor pursuant to the Master Office Lease and/or the size of the premises leased by Sublessor pursuant to the Master Storage Lease are due expanded, decreased or otherwise altered, the Master Office Lease Percentage and the Master Storage Lease Percentage (as applicable) shall be recalculated as follows: (i) with respect to any alteration in the size of the premises leased by Sublessor pursuant to the Master Office Lease, by dividing the Master Office Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Office Lease as so altered, and (ii) with respect to any alteration in the size of the premises leased by Sublessor pursuant to the Master Storage Lease, by dividing the Master Storage Subleased Area by the square footage of the total space leased by Sublessor pursuant to the Master Storage Lease as so altered; (b) additional rent ("Additional Rent") in an amount equal to (i) the Sublease Percentage of Tenant's Share of Taxes and Operating Expenses (as such term is defined in the Master Leases), payable and calculated at such times, in advance the manner and in accordance with the terms and provisions of Section 4 of the Master Office Lease and Section 14 of the Master Storage Lease, including, without limitation, payment of the Sublease Percentage of Tenant's Estimated Share (as such term is defined in the Master Leases) on the first day of each calendar month, (ii) The Sublease Percentage of any and all other sums payable by Sublessor to Landlord under the Master Leases, and (iii) any and all other sums payable by Sublessee to Sublessor under this Sublease. 3.2. All other rent (including Additional Rent) Base Rent shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid payable by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay Sublessee on the first day of a each calendar month the Monthly in an amount, calculated in accordance with Section 3.1(a) above. Additional Rent shall be payable by Sublessee at such times provided for under Section 3.1(b) above. The Base Rent and Additional Rent shall be paid by Sublessee to Sublessor at the office of Sublessor set forth above or such other place as Sublessor may designate, without prior notice or demand therefor and without any abatement, deduction or setoff. Sublessor may at any time and from time to time by notice direct Sublessee to pay all or any portion of the Base Rent and Additional Rent described in Section 3.1 on Sublessor's behalf directly to the Landlord at such address as Sublessor may at any time and from time to time direct. 3.3. Sublessee shall pay all Rent when due, in lawful money of the United States which shall be legal tender for the payment for of all debts, public and private, at the time of payment. All sums due and payable as Rent shall from and after three (3) days of the due date thereof bear interest at the higher of (i) 5% above the prime rate published in the Wall Street Journal, if available (and if not available, then such month comparable substitute rate as a Default may be selected by SubtenantSublessor), from time to time, and (ii) the maximum legal rate of interest permitted from time to time under law to be charged, provided, however, that no further interest shall be entitled payable upon such interest. All interest accrued under this subsection as hereinabove provided shall be deemed to any be Additional Rent payable hereunder and all remedies for due at such Defaulttime or times as the rent with respect to which such interest shall have accrued shall be payable under this Sublease.

Appears in 1 contract

Samples: Sublease (Nuveen John Company)

Rent. (a) Commencing on the Commencement Date, Subtenant shall A. Tenant covenants and agrees to pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord Landlord during the term of this SubleaseLease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or place specified by Landlord, the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: without deduction or setoff (i) the Parking Charges (as defined in Section 14, belowunless authorized by this Lease), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All Tenant also covenants and agrees to pay to Landlord Tenant's Pro Rata Share of Building Operating Costs as described in Paragraph 3B below. Base Rent and Tenant's Pro Rata Share of Building Operating Costs, together with other rent (including Additional Rent) amounts which may be payable by Tenant to Landlord under this Lease, shall sometimes be referred to collectively as " RENT." Rent for any fractional calendar month shall be that proportion of the monthly installment which the number of days during such month bears to the total of days in the month. Rent not paid by the fifth day following written notice that such amount is past due shall be subject to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent three (53%) of the amount due due. B. In addition to Base Rent, Tenant shall pay Tenant's Pro Rata Share of "BUILDING OPERATING COSTS." Building Operating Costs shall mean all expenses, costs and disbursements which Landlord shall pay or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure become obligated to pay because of or in connection with the maintenance, repair and operation of the Building, including, but not limited to, real estate taxes and assessments, use, sales, or any other taxes (except income taxes) based on rents, personal property taxes on personal property used in the operation of this Building; Landlord's insurance, as described in Paragraph 6 below; utilities not separately metered to individual tenants; costs of leasing or amortization of energy reduction devices and systems, except those included in the building specifications and except those required during the first day two years of the Lease Term; maintenance; repairs; redecorating of common areas; cost of roof renovation (which shall be amortized over its expected life and which shall not include roof replacement which occurs after the term or the first extension thereof); janitorial service; operating supplies; property management; Building Services; snow removal; landscaping; costs of leasing or amortizing plants, shrubs, trees, or flowers, and normal maintenance thereof; costs of leasing or amortizing wall hangings, fixtures, paintings, and statues; rubbish removal; tools and equipment used for the daily operation of the Building; air conditioning, heating and elevator repair and maintenance; resurfacing and restriping of parking areas; repair and replacement of car stops and signage; security; wages, payroll taxes, welfare and disability benefits reasonably incurred in the operation of the Building. Notwithstanding the foregoing, Building Operating Costs shall expressly exclude: (a) cost of decorating, redecorating, or special cleaning, or other services not provided on a regular basis to all tenants of the Building; (b) wages, salaries, fees and fringe benefits paid to administrative or executive personnel or officers or partners of Landlord, unless employed at competitive rates as independent contractors; (c) any charges for depreciation of the Building or equipment; (d) any interest or finance charges; (e) any charges for Landlord's income taxes, excess profit taxes, franchise taxes or similar taxes on Landlord's business; (f) all costs relating to activities conducted for the solicitation of and execution of leases of space in the Building; (g) any costs for which Tenant or other tenants in the Building are being charged other than pursuant to this Paragraph; (h) the costs of correcting defects in the construction of the Building or in the Building Equipment, except that conditions (not occasioned by construction defects) resulting from ordinary wear and tear shall not be deemed defects for the purpose of this category; (i) the costs of any repair made by Landlord because of the total or partial destruction of the Building or the condemnation of a month portion thereof; (j) any insurance premium to the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be extent that Landlord is entitled to reimbursement therefore from Tenant or from any other tenant of the Building; (k) any costs for which Landlord is reimbursed by insurance, warranty, or other source of reimbursement; (1) the cost of any additions or capital improvements to the Building subsequent to original construction; (m) the cost of any repairs, alterations, additions, changes, replacements and all remedies other items which, under Generally Accepted Accounting Principles, are properly classified as capital expenditures to the extent that they upgrade or improve the Building, as opposed to replacement of existing items which have worn out; (n) any cost included in Building Operating Costs representing an. amount paid to a related corporation, entity or person which is in excess of the amount which would be paid in the absence of such relationship; (o) the cost of any work or service performed for or facilities furnished to any tenant of the Building to a greater extent or in a manner more favorable to such Defaulttenant than that performed for or furnished to Tenant; and (p) the cost of overtime or other expense to Landlord in curing its defaults or performing work expressly provided herein to be borne at Landlord's expense.

Appears in 1 contract

Samples: Lease (Kragen Auto Supply Co)

Rent. (a) Commencing Tenant will pay the annual base rent as shown in Exhibit "D" in equal monthly installments in advance beginning on the Rent Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand Date and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance thereafter on the first day of each month during the term, prorated for any portion of a month. All The term "rent" includes base rent, additional rent and all other rent (including Additional Rent) shall amounts to be paid by Tenant under this Lease, whether or not specifically described as rent. Subject to Sublandlord within ten Subsection (10b) days after Sublandlord’s below, and except as otherwise set forth in this Lease with respect to rent abatements, all rent due under this Lease will be paid without demand, deduction, counterclaim or offset of any type in lawful U.S. legal tender at 0000 Xxxxxxxxx Xxxxxx, Xxxxx 0000, Xx Xxxxxxx, XX 00000-0000, Attn: Accounting Dept., or to such other person or place as Landlord may from time to time designate by written demand therefornotice pursuant to this Lease. Sublandlord may impose Tenant will pay the first month's base rent when it executes this Lease. (b) If and for so long as there is a late charge mortgage loan encumbering the Project, at the written request of five percent (5%) Landlord, Landlord and Tenant will establish a collection account for the receipt and disbursement of base rent. In such event, Tenant will pay the base rent as and when required each month into this collection account, and the collection agent promptly will disburse from such amount an amount sufficient to pay debt service and any other amounts owed to the mortgage lender and/or the lender of the amount due loan secured by the letter of credit, with the balance being disbursed to Landlord. The collection agent and the terms of this collection account will be subject to the mutual written approval of Landlord and Tenant, which approval will be based on customary terms for such agreement and will not be unreasonably withheld or $100delayed. The parties agree to the Bank of America or the Bank of Boston as collection agent, whichever is greater, for any rent payment not received on and to a collection agreement in form substantially similar to the date due. In additionone attached as Exhibit "B-1.", all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure no cost or expense to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultTenant.

Appears in 1 contract

Samples: Lease (Navisite Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) Rent in the amounts specified in the Basic Sublease Information to Sublandlord during for each month of the term of this SubleaseSublease Term, without offsetoffset or deduction for the Sublease Premises, deduction or abatementin advance, which on the first day of each month of the Sublease Term, in lawful money of the United States. Monthly Base Rent shall commence and be adjusted on the Rent Commencement Dates specified in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00)Basic Sublease Information. Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30the number of days in such month. All Monthly Base Rent and all other charges payable by Subtenant under this Sublease shall be referred to herein as “Rent.” Notwithstanding the foregoing, (i) for the two-day monthmonth period commencing June 15, 2005 and ending August 14, 2005, the Subtenant shall be obligated to pay only the Utilities and janitorial costs associated with the Sublease Premises and (ii) for the two-month period commencing August 15, 2005 and ending October 14, 2005, the Subtenant shall be obligated to pay only the Utilities, janitorial costs, the Estimated Operating Expenses and the Building Maintenance Expenses associated with the Sublease Premises. (b) In addition to Monthly Base Rent, Subtenant is responsible and commencing on the date identified for that purpose in the payment of the following: (i) the Parking Charges (as defined in Section 14Basic Sublease Information, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) month of the amount due or $100Sublease Term Subtenant shall pay as additional Rent Subtenant’s Share of the Master Premises Operating Expenses (as provided in the Basic Sublease Information). As used in this Sublease, whichever the term “Master Premises Operating Expenses” means all actual out-of-pocket costs payable by Sublandlord to Master Landlord under Sections 4.05, 7.01, 9.01 and 9.02 of the Master Lease and the fitness center fees charged by Master Landlord for the Building (except for the insurance deductibles as set forth in Section 7.01 of the Master Lease, which will be part of the Master Premises Operating Expenses passed through to Subtenant only to the extent that, if Sublandlord is greater, charged by Master Landlord for any rent payment not received insurance deductible as part of a casualty to the Building, then Sublandlord will treat that deductible expense as a capital expenditure to be amortized and charged to Subtenant at its Percentage Share of the charge based on the date due. In additionamortization schedule set forth in Section 6.05 of the Master Lease, all amounts not paid with the useful life being the useful life of the repairs covered by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultdeductible).

Appears in 1 contract

Samples: Sublease Agreement (Niku Corp)

Rent. (a) Commencing as of the Commencement Date and continuing thereafter on the Commencement Datefirst (1st) day of each and every month during the Term, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord in advance the sum of $27,241.50 ($6.50 per rentable square foot) as rent for the Sublease Premises (the "Rent"). Rent for any period less than a calendar month shall be a pro rata portion of the monthly installment. Rent shall be payable to Sublandlord, in advance, in lawful money of the United States, without prior notice, demand, or offset, on or before the first day of each calendar month during the term Term, at the address set forth in Section 23 below or at such other address as may be designated in writing from time to time. The first month's Rent payable hereunder shall be paid by Subtenant upon the mutual execution of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable responsible at its sole cost for paying the following amounts and/or providing the following services: property taxes, property insurance (Building only), common area maintenance, HVAC, utilities on the Premises, property dues, elevator maintenance, sprinklers, security (including access card system), garbage, pest control, earthquake insurance, water treatment costs, and maintenance, repair and replacement (except where caused by the negligence or willful misconduct of Subtenant) of all Building operating systems, including but not limited to Sublandlord HVAC, electrical, mechanical, roll-up doors in the shipping area, life-safety and plumbing, landscaping and parking lot maintenance, and maintenance, repair and replacement (except where caused by the negligence or willful misconduct of Subtenant); (iii) any charges permitted by and pursuant of all built-in equipment which either serves or is located within the Sublease Premises, including but not limited to the Sublease autoclave, cagewasher, deionized/RO water supply system, animal holding room pressurization equipment, CO2 supply equipment, or any other costs that Sublandlord is required to pay under the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of pursuant to its obligations under terms. Anything in this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rentcontrary notwithstanding, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment any other services required by Subtenant (including, without limitation, janitorial services and gas supply for the CO2 equipment). Other services that are required by Subtenant may be negotiated between Sublandlord and Subtenant and, if appropriate, billed to Subtenant at Sublandlord's actual cost for such service. (c) In the event of Operating Expenses any casualty or condemnation affecting the Sublease Premises, Rent payable by Subtenant shall be abated hereunder, but only to the extent that Rent under the Master LeaseLease is abated with respect to the Sublease Premises, and Subtenant waives any right to terminate the Sublease in connection with such casualty or condemnation except to the extent the Master Lease is also terminated as to the Sublease Premises or any material portion thereof. In the event of the termination of the Master Lease for any reason, then this Sublease shall terminate coincidentally therewith without such termination constituting a default of Sublandlord unless the termination is due to a default by Sublandlord under the Master Lease which is not caused by a default by Subtenant under this Sublease. In the event of any taking, Subtenant shall have no claim to any award. In the event of any casualty, Sublandlord shall perform such restoration as is required of Sublandlord pursuant to the Master Lease and, to the extent such casualty is the result of Subtenant's action or inaction, Subtenant shall restore the Sublease Premises as soon as reasonably practicable. (d) Monthly Base RentAnything in this Sublease to the contrary notwithstanding, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenantliable for, and shall be entitled pay and deliver evidence of payment prior to delinquency, all taxes levied against any personal property, fixtures, machinery, equipment, apparatus, systems and all remedies for such Defaultappurtenances or improvements placed by or on behalf of Subtenant in, about, upon or in connection with the Sublease Premises during the Term.

Appears in 1 contract

Samples: Sublease (Exelixis Inc)

Rent. 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) Commencing on During the Commencement DateLease Term, Subtenant Tenant shall pay to Landlord, as monthly rent, the base full service gross rent specified in the Basic Lease Information (the Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year. (c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant’s Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year. (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as “Tenant’s Monthly Base RentUtility Charge”, Subtenant is responsible for the payment of the following: and all such amounts shall constitute rent hereunder). (i) All electricity directly serving the Parking Charges Premises (“Direct Electrical Costs”) shall be metered or submetered and Tenant shall pay, as defined in Section 14monthly rental, below)the actual cost (without mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord’s election, as a payment directly to the entity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) days of Landlord’s delivery of an invoice to Tenant therefor. (ii) With respect to all utility costs for the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease Premises other than Direct Electrical Costs (collectively, “Additional RentOther Utility Costs”), Landlord shall have the right, from time to time, to fairly and equitably allocate some or all of such Other Utility Costs among different portions or occupants of the Building (“Cost Pools”), in Landlord’s reasonable discretion. All Such Cost Pools may include, but shall not be limited to, office space tenants and research and development and laboratory tenants of the Building. The utility costs within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner. (e) Beginning on the Rent Commencement Date (or, if not the first day of a month, the first day of the month following the Rent Commencement Date), during each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the Allowance Rent, if any, as provided in Exhibit B attached hereto. (f) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated “additional rent.” As used in this Lease, “rent” shall mean and include all Base Rent, Allowance Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. 3.2 The additional rent payable pursuant to sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof shall be calculated and paid in accordance with the following procedures: (a) On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord’s estimate of the amounts payable in full under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month during such ensuing calendar year, Tenant shall pay to Landlord, as monthly rent, one twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior calendar year’s estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the current calendar year will vary from Landlord’s estimate, Landlord may, by Subtenant giving written notice to Tenant, revise its estimate for such calendar year. If Landlord delivers its estimate after the first day of a calendar year, or if Landlord revises its estimate for a calendar year, then subsequent payments by Tenant for such calendar year shall be based on such late or revised estimate, as directed the case may be, with an appropriate adjustment to the amount of such subsequent payments such that, prior to the end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord’s entire estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year. (b) Within a reasonable time after the end of each calendar year, but no later than April 1, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Sublandlord Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within ten (10) days after submission delivery of a written invoice therefor such statement. Failure by Sublandlord Landlord to Subtenantgive any notice or statement to Tenant under this section 3.2 shall not waive Landlord’s right to receive, and Tenant’s obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord’s office in the Project or at such obligations other location as Landlord may designate, for the purpose of verifying the information in such statement; provided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall survive be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than ninety (90) days after Landlord shall have delivered the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001written statement pertaining to such period. (c) Notwithstanding Subtenant’s obligation If the Lease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.l(d)(ii) hereof applicable to pay Additional Rent, Sublandlord the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and Subtenant hereby acknowledge and agree that Subtenant including the date on which the end of the term occurs bears to three hundred sixty five (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be responsible for separate payment of Operating Expenses under the Master Leaseperformed after such termination. (d) Monthly 3.3 Tenant shall pay all monthly installments of Base Rent, Additional Rent and all other costs monthly installments of Landlord’s estimates of amounts payable under sections 3.1(b), 3.1(c), and expenses payable hereunder by Subtenant shall be referred 3.1(d)(ii) hereof and monthly installments of the Allowance Rent (collectively, “Monthly Rent”) to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord Landlord, in advance, on a monthly basis and are due and payable in advance on or before the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) and every calendar month during the Lease Term, without notice, demand, deduction or offset, in lawful money of the amount due or $100, whichever is greater, for any rent payment not received on the date dueUnited States of America. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure Landlord instructs Tenant to pay all such Monthly Rent to the address specified therefor in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. If Xxxxxx’s obligation to pay Base Rent hereunder commences on a day other than the first day of a month calendar month, or if the Monthly Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payment payable for such partial month as a Default by Subtenant, and shall be entitled appropriately prorated on the basis of a thirty (30)-day month. Upon signing this Lease, Tenant shall pay to any and all remedies Landlord an amount equal to the Base Rent for the first full calendar month of the Term in which monthly Base Rent is payable, which amount Landlord shall apply to the Base Rent for such Defaultfirst full calendar month.

Appears in 1 contract

Samples: Lease (Bionano Genomics, Inc.)

Rent. (a) Commencing on the Commencement Date, Subtenant Sublessee shall pay monthly base full service gross to Sublessor rent (“Monthly Base "Fixed Rent") to Sublandlord in the amounts listed on Exhibit C attached hereto. However, Sublessee shall phase into the Premises, effective May 1, 1998, on a stepped basis such that the Sublessee shall only pay Fixed Rent for 15,000 rentable square feet during the term first five (5) months of this Subleasethe Term, without offsetand pay Fixed Rent for 20,000 rentable square feet during months six (6) through eight (8) of the Sublease Term. Sublessee, deduction or abatementshall pay Rent for the entire Premises (23,575 rentable square feet) beginning on January 1, which Monthly Base 1999. Fixed Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month during the term of this Sublease. Fixed Rent, Sublessee's share of the Operating Expenses, as defined in Section 4.2 of the Main Lease, and all other amounts ("Additional Charges") payable by Sublessee to Sublessor under the provisions of this Sublease or the provisions of the Main Lease shall be paid promptly when due, without notice or demand therefor (unless Sublessor receives notice or demand therefor from the Lessor under the Main Lease), and without deduction, abatement, counterclaim or setoff of any amount for any reason whatsoever. Rent for any partial month of the Sublease Term shall be prorated in the proportion that the number of days this Sublease is in effect during such month bears to the actual number of days in such month. If, based upon Lessor's statement of actual expenses or an audit performed pursuant to Paragraph 4.2(g) of the Main Lease (which audit Sublessor agrees to have performed, at Sublessee's expense, if requested by Sublessee in writing), Sublessee has underpaid or overpaid the amount of Rent owing pursuant to the Master Lease (as incorporated into this Sublease), Sublessee shall (as applicable) pay to Sublessor the amount of such underpayment or, Sublessor shall pay to Sublessee the amount of such overpayment. If Sublessor shall be responsible for any Additional Charges due under the Main Lease which is not attributable to Sublessee's use or occupancy of the Premises, no such Additional Charges shall be payable by Sublessee, including, without limitation, Additional Charges incurred as a result of Sublessor's failure to provide Lessor with timely payment of Rent. All other rent (including Rent payments, Operating Expenses and Additional Rent) Charges shall be made payable to Sublessor at the address set forth in Section 26 of this Sublease Agreement, or at such place as may be designated by Sublessor. Fixed Rent and Additional Charges shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) Sublessor in lawful money of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest United States at the rate address of ten percent (10%) per annum until paidSublessor set forth in Section 26 of this Agreement, or to such other person and/or at such other address as Sublessor may from time to time designate by written notice to Sublessee. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure No payment by Sublessee or receipt by Sublessor of any lesser amount than the amount stipulated to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and be paid hereunder shall be entitled to any and all remedies for such Default.deemed other than on account

Appears in 1 contract

Samples: Sublease Agreement (Intervu Inc)

Rent. (a) Commencing on From and after the Sublease Commencement Date, Subtenant shall pay monthly to Sublandlord the base full service gross rent specified in subsection (b) below (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly ). Base Rent shall be in and all other items of additional rent, charges and expenses payable by Subtenant hereunder (all of the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly foregoing except for Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rentdeemed, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each calendar month, without deduction, abatement, counterclaim or setoff of any amount for any reason whatsoever. All other rent (including Additional Rent) Rent shall be paid to Sublandlord within ten in lawful money of the United States at its address set forth above (10Attention: Lease Administration), or to such other person, or at such other address, as Sublandlord may from time to time designate by notice to Subtenant. Any payment by Subtenant or receipt by Sublandlord of an amount less than the amount stipulated hereunder for any portion of Rent shall be deemed a payment on account of such amount(s) days after payable. An endorsement or statement by Subtenant on any check or letter shall not be deemed to create an accord and satisfaction, and Sublandlord may accept any such check or payment without prejudice to Sublandlord’s written demand thereforright to recover the balance due or to pursue any other remedy available to it. Sublandlord may impose a late charge Any provision in the Prime Lease referring to “Rent” or “rent” (or words of five percent similar meaning) incorporated herein by reference shall be deemed to refer to all items of Base Rent and Additional Rent due under this Sublease. Base Rent and Additional Rent shall be referred to as “Rent”. (5%b) Base Rent shall consist of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenantfollowing amounts, and shall be entitled paid by Subtenant to Sublandlord as herein provided: Sublease Period Total Term Monthly Sublease Commencement Date through Sublease Expiration Date $ 494,991.00 $ 49,499.10 (c) Notwithstanding subsection (b) above, Tenant’s obligation to pay Rent shall commence on the Sublease Commencement Date, subject to any abatement of Rent pursuant to Paragraph 1.(b) above. The Rent payable for the calendar month in which the Sublease Commencement Date occurs shall be pro rated to reflect the number of days of Subtenant’s occupancy during such calendar month and shall be payable on the Sublease Commencement Date. (d) Rent payable hereunder shall be prorated on a daily basis in the case of any period of less than a full calendar year or, in the case of any monthly installment, any period less than a full calendar month. Subtenant shall pay all remedies for such Defaultcommercial rent or occupancy taxes imposed in connection with this Sublease, the Subleased Premises or the payment of Rent hereunder, if applicable.

Appears in 1 contract

Samples: Sublease (Linkedin Corp)

Rent. Annual rent shall be as follows: (ai) Commencing Lease Year 1: $528,679.50 per year ($23.50 per rentable square foot), payable in monthly installments of $44,056.63. (ii) Lease Year 2: $539,928.00 per year ($24.00 per rentable square foot), payable in monthly installments of $44,994.00. Subtenant covenants and agrees to pay to Sublandlord the rent at YSM Facilities, Yale University, P.X. Xxx 000000, Xxx Xxxxx, XX 00000-0000, or at such other place as Sublandlord may designate in writing. Except as otherwise set forth herein, rent shall be payable without notice or demand, without abatement, deduction or setoff. Rent for any portion of a month shall be pro-rated. Annual rent shall be payable in monthly installments on the Commencement Datefirst day of each month in advance. All amounts (other than annual rent) payable to Sublandlord by Subtenant under this Sublease shall be deemed additional rent and Sublandlord shall have the same rights and remedies by reason of non-payment of such additional rent as if Subtenant had failed to pay an installment of annual rent. Sublandlord shall be and shall remain responsible under the Prime Lease (as defined below) for any and all payments owed to Landlord (as defined below), and Subtenant shall have no responsibility whatsoever for making any payment directly to Landlord under the Prime Lease or otherwise related to Subtenant’s sublease of the Premises, Subtenant’s sole and exclusive financial responsibility related to Subtenant’s sublease of the Premises being to Sublandlord as expressly set forth in this Sublease. In addition to the annual rental payable under this Sublease as set forth above, Subtenant shall pay monthly base full service gross rent to Sublandlord, the following: (“Monthly Base Rent”a) to Sublandlord A pro rata percentage of all Operating Expenses (as hereinafter defined) during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty. The pro rata percentage applicable to this Sublease is four and thirty-Five Thousand and No/100 Dollars four one hundredths percent ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end 4.34%) of the term of this Sublease shall be prorated on the basis of a 30-day monthBuilding. (b) In addition A pro rata percentage of all Real Estate Taxes levied upon the Building, applicable to Monthly Base Rent, Subtenant is responsible for and due and payable during the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination term of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation The pro rata percentage applicable to pay Additional Rent, Sublandlord this Sublease is four and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five thirty-four one hundredths percent (54.34%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultBuilding.

Appears in 1 contract

Samples: Sublease (Achillion Pharmaceuticals Inc)

Rent. (a) 1. Commencing on as of the Commencement Date, Subtenant covenants and agrees to pay directly to Sublandlord, at such a place as Sublandlord shall pay monthly base full service gross from time to time designate in writing, as rent (“Monthly Base Rent”) to Sublandlord during the term of this Subleasehereof: A. Base Rent as follows: Time Period Base Rent Monthly installment Commencement Date through January 31, without offset2011 $ 254,353.00 $ 21,196.00 February 1, deduction or abatement2011 through March 31, which Monthly 2013 $ 485,597.00 $ 40,466.00 Such Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a equal monthly basis and are due and payable installments in advance on the first day of each and every calendar month during the term hereof (and a proportionate part for any part of a month. All ); provided, however, that Subtenant shall not be required to pay Sublandlord Base Rent during any period that Base Rent may be abated pursuant to the provisions of Section 3.1.C of the Lease. B. Subtenant’s pro rata share (defined below) of all other rent sums and money payments to be paid by Sublandlord to Landlord pursuant to the applicable provisions of the Lease (including other than Base Rent and payments pursuant to Section 3.3 of the Lease), including, without limitation, prior to the effectiveness of the Lease Extension Agreement, payments on account of any Additional RentRent (as defined in the Original Lease), and following the effectiveness of the Lease Extension Agreement, payments on account of any Additional Rent (as defined in the Lease Extension Agreement) shall pursuant to the provisions of the Lease, such amounts to be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on by the date duethey are due under the Lease. “Subtenant’s pro rata share” for the purposes of this Sublease shall mean the fraction, the numerator of which is equal to the number of rentable square feet of Subleased Premises (23,123) and the denominator of which is equal to the number of rentable square feet of Leased Premises (37,423). The parties agree that the Subtenant’s pro rata share is 61.79%. In addition, Subtenant shall pay, to Sublandlord, Subtenant’s pro rata share of the property insurance carried by Sublandlord on improvements located in the Subleased Premises that were installed by Sublandlord. C. Subtenant’s pro rata share of all amounts not sums and money payments to be paid by Sublandlord to the City of New Haven or other governmental taxing authority levied against Sublandlord for leasehold improvements. For the avoidance of doubt, Subtenant when due shall bear interest at be solely responsible for and pay within the rate time provided by law all taxes and assessments imposed on its inventory, furniture, trade fixtures, apparatus, equipment and any other of ten percent (10%) per annum until paidSubtenant’s personal or other property. 2. As a cumulative and non-exclusive remedy, If Sublandlord may also treat failure has made any payments to pay Landlord on the first day account of a month period, part of which occurs after the Monthly Base Rent Commencement Date of this Sublease, Subtenant shall pay to Sublandlord its pro rata share of the portion of such payment for such month as a Default by Subtenantattributable to the period after the Commencement Date, and similarly if Subtenant is to make any payments to Sublandlord or Landlord on account of a period, part of which occurs prior to the Commencement Date of this Sublease, such payment shall be entitled reduced by the portion thereof attributable to any and all remedies for such Defaultthe period prior to the Commencement Date.

Appears in 1 contract

Samples: Sublease Agreement (Transgenomic Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) Basic Rental to Sublandlord during the term of this Sublease, Landlord without offsetdemand, deduction or abatementset off, which Monthly Base Rent shall be in for each month of the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00)entire Lease term. Monthly Base Rent for any partial month Until further notice, payments are due at the beginning or address set out in this Lease document. Tenant shall, contemporaneously with the end of the term execution of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base RentLease, Subtenant is responsible for the payment of pay Landlord the following: (i) the Parking Charges security deposit set out in paragraph 1(f) above and (ii) an initial one-and-one-half months installment of rent (as defined in Section 14, belowparagraph 1(e), (ii). A monthly installment in the amounts defined in paragraphs 1(e) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord above shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on or before the first day of each monthsucceeding calendar month during the Lease term. All other rent (including Additional Rent) Rent for any fractional month at the beginning or end of the Lease term shall be paid prorated. The security deposit shall be held by Landlord without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under this Lease, it being expressly understood that the deposit shall not be considered an advance payment of any rental or a measure of Landlord's damages in case of default by Tenant. If Tenant fails to Sublandlord within ten (10) timely pay any sums due under this Lease or defaults in its obligations under this Lease, Landlord may, from time to time, without prejudice to any other remedy, use the security deposit to the extent necessary to make good any arrearages of Basic Rental or any damage, injury, expenses or liability to Landlord. Following any such application of the security deposit, Tenant shall immediately pay to Landlord, on demand, the amount so applied in order to restore the security deposit to its original amount. 30 days after Sublandlord’s termination of this Lease and vacating of the Premises by Tenant, Landlord shall return any remaining balance of the security deposit to Tenant so long as Tenant has full performed its obligations under this Lease and provided Landlord with written demand therefornotice of its forwarding address. Sublandlord If Landlord transfers its interest in the Premises during the Lease term, Landlord may impose assign the security deposit to the transferee and thereafter shall have no further liability for the return of such security deposit. Time is of the essence as to all required payments by Tenant under any provision of this Lease. If any monthly installment of Basic Rental is not received by the Landlord on or before the 5th day of the month for which said monthly rental installment is due, a service charge of 10% of the delinquent installment shall become due and payable in addition to the monthly installment owed. The date that a check is dated or mailed is not relevant in determining Tenant's liability for a late charge of five percent (5%) fee; Landlords accounting records are the determining record of the date of receipt of a rent payment. The service charge is for the purpose of reimbursing Landlord for the extra costs and expenses incurred in connection with the handling and processing of late monthly rental. If the delinquent amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due the 1st day of the following month, then the delinquent amount (not including the service charge) shall bear interest at the rate lesser of: (1) 18 per cent per annum, or (2) the maximum lawful contract rate. Such interest shall begin to accrue on the 1st of ten percent the month following the delinquency and continue until payment of the delinquent amount is made. If any check that is tendered to Landlord by Tenant for any charges due under this Lease is returned to Landlord by Tenants financial institution for any reason (10%including but not limited to absence of Tenants signature, insufficient funds, stop payment, or closed account) per annum until paidthen, in addition to any other liability of Tenant for the amount of the check, Tenant shall be liable to Landlord for a service fee of $50.00 for each returned check. As a cumulative Landlord has no obligation to redeposit any check that is returned for any reason and Tenant shall immediately cure the non-exclusive remedypayment that has resulted from the returned check. If Landlord receives 2 or more returned checks during the term of this Lease, Sublandlord then Landlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default require that all future payments from Tenant be made by Subtenant, and shall be entitled to any and all remedies for such Defaultcashiers check.

Appears in 1 contract

Samples: Lease Agreement (Efj Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant Tenant shall pay monthly base full service gross rent to Landlord an annual rental in the amount Dollars (“Monthly Base $ ), (Rent”) ), at the address set forth below. The first rental payment is prorated to Sublandlord during the term end of this Subleasethe current calendar year, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 ($ ) Dollars payble within within fifteen ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end 15) days of the term execution of this Sublease Agreement. Annual payments are due on or before the first (1st) day of January in each subsequent year. Rent shall be prorated on the basis payable to Landlord at City of a 30-day monthLongmont, ; Attention: . (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord The Rent shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of increase five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day anniverary after the Term Commencement Date and continuing annually on the anniversary date of each year thereafter. (c) In the event Tenant sublets or licenses space on or in the Tower Facilities to a month third party collocator (“Collocator”), Tenant shall remit twenty-five percent (25%) of the Monthly Base rent or license fees collected by Tenant from such Collocator (the “Collocator Rent”) to Landlord (the “Landlord’s Revenue Share”). The Collocator Rent shall be negotiated by and between Tenant and Collocator, on terms acceptable to Tenant, in Tenant’s sole discretion. In calculating the amount of Landlord’s Revenue Share, Collocator Rent shall not include (i) any payment received by Tenant under the applicable sublease or license for reimbursement of operating expenses or construction costs relating to the Tower Facilities paid by Tenant or (ii) any other payment other than regular recurring rent or license fees. In the event Tenant sublets to more than one Collocator, Tenant shall be obligated to pay the Landlord’s Revenue Share for each Collocator. Tenant’s obligation to pay Landlord’s Revenue Share to Landlord shall expire or xxxxx, as applicable, at such month time as a Default by Subtenantthe Collocator does not pay Collocator Rent to Tenant, and shall resume, as applicable, if and when the Collocator resumes paying such recurring Collocator Rent and the Landlord’s Revenue Share shall be entitled to any and all remedies prorated for such Defaultpartial periods.

Appears in 1 contract

Samples: Tower Lease Agreement

Rent. On the date that Lessee executes this Lease, Lessee shall deliver to Lessor the original executed Lease, the Base Rent (a) Commencing on which shall be applied against the Commencement Date, Subtenant shall Rent payable for the first month Lessee is required to pay monthly base full service gross rent (“Monthly Base Rent”) ), the Security Deposit, the Cleaning Deposit, and all insurance certificates evidencing the insurance required to Sublandlord during the term be obtained by Lessee under Paragraph 12 of this SubleaseLease. Lessee agrees to pay Lessor, without prior notice or demand, or abatement, offset, deduction or abatementclaim, which Monthly the Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated described on the basis of a 30-day month. (b) In addition to Monthly Base RentPage 1, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance at Lessor's address shown on Page 1 on the first day of each month throughout the term of the Lease. In addition to the Base Rent set forth on Page 1, Lessee shall pay Lessor in advance and on the first (1st) day of each month throughout the term of this Lease (including any extensions of such term), as additional rent Lessee's share, as set forth on Page 1, of Increases in Operating Expenses, Increases in Tax Expenses, Increases in Common Area Utility Costs, administrative expenses, Trash and Water Charge and Utility Expenses, as specified in Paragraphs 6.A., 6.B., 6.C. and 7 of this Lease, respectively. Additionally, Lessee shall pay to Lessor as additional rent hereunder, immediately on Lessor's demand therefore, any and all costs and expenses incurred by Lessor to enforce the provisions of this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Premises by Lessee, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Lessor permits Lessee to occupy the Premises without requiring Lessee to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Lessee shall otherwise perform all other obligations of Lessee hereunder, including, but not limited to paying to Lessor any and all amounts considered additional rent, such as Lessee's share of Increases in Operating Expenses, Increases in Tax Expenses, Increases in Common Area Utility Costs, Trash and Water Charge, Utility Expenses, and administrative expenses. If, at any time, Lessee is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Lessor of Lessee's requirement to pay rental payments shall be null and void and Lessee shall immediately pay to Lessor all rental payments waived by Lessor. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. All other rent (including Additional Rent) The prorated Rent shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative Commencement Date and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a the calendar month in which the Monthly Base Rent payment for such month date of termination occurs, as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultthe case may be.

Appears in 1 contract

Samples: Lease Agreement (Bikers Dream Inc)

Rent. Tenant agrees to pay to Landlord at the office of the managing agent (athe Manager) Commencing on of the Commencement Datebeneficiaries of Landlord (the "Beneficiaries), Subtenant shall pay or at such other place designated by Landlord, without any prior demand therefor and without any deduction whatsoever, (except as herein permitted), base rent at the initial monthly base full service gross rent rate specified in Subsection l.01H ("Monthly Base Rent”) ). Monthly Base Rent is subject to Sublandlord during adjustment pursuant to Sections 4.02 and 6.03, and as adjusted is hereinafter called "Adjusted Monthly Base Rent". Unless otherwise provided to the term of contrary in this SubleaseLease, without offset, deduction or abatement, which Adjusted Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each monthmonth of the Term. Tenant shall not be obligated to pay Rent for the first 3 months and 5 days of the term hereof with the obligation to commence the payment of Rent beginning on the sixth day of the fourth month of the term. The first installment of Rent shall be paid by Tenant to Landlord on the Commencement Date. Adjusted Monthly Base Rent shall be prorated f or partial months within the Term. All charges, costs and sums required to be paid by Tenant to Landlord under this Lease in addition to Adjusted Monthly Base Rent shall be deemed additional rent, and Adjusted Monthly Base Rent and additional rent shall hereinafter be collectively called "Rent." Tenant's covenant to pay Rent shall be independent of every other rent covenant in this Lease. Tenant shall pay a late charge for delinquent Rent in accordance with the provisions of Section 26.01. In addition to the Premises demised hereunder, during the term hereof and any option term, Landlord hereby leases to Tenant and Tenant hereby accepts from Landlord space in the basement of the Building which: Ci) comprises 2,000 square feet; (including Additional Rentii) shall be paid used solely for purposes of storage in connection with Tenant's business within the Premises; and (iii) location shall be mutually agreed upon by Landlord and Tenant prior to Sublandlord within ten (10) the Commencement Date and enclosed by the Landlord, at its expense .("Original. Storage Space"). Tenant may, at its sole option, to be exercised by the 'delivery of a written notice to the Landlord at least 180 days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) prior to the expiration of the amount due or $100third year of the Term of this Lease, whichever is greater, rent an additional 3,000 square feet in the basement for any rent payment not received on the date due. In addition, all amounts not paid purposes of storage to be designated by Subtenant when due shall bear interest Landlord at the rate time of ten percent the exercise of the option with the understanding that such space (10%the "Option Storage Space") per annum until paidneed not be contiguous to the Original Storage Space. As a cumulative The Landlord will enclose the Original Storage Space and non-exclusive remedyOption Storage Space, Sublandlord may also treat failure at its expense, and construct such demising walls and doors necessary in order for Tenant to pay on secure its personal property therein. The annual rent for the first day of a month Original Storage Space shall be $12,000.00 for the term and option terms, if any, payable in equal monthly installments at the time Monthly Base Rent payment is due under the terms of this Lease. The annual rent for such month as a Default by Subtenantthe Option Storage Space for the term and option terms, and if any, shall be entitled a "Market Rent" which is defined herein as the bona fide annual rent per square foot of net rentable area being offered by Landlord to any prospective tenants for space in the basement for a lease term commencing on or after the date rent is to begin for the Option Storage Space ("Option Rent"). The annual Option Rent shall be paid in equal monthly installments payable at the time of and all remedies with Monthly Base Rent. In no event shall rent payable for such Defaultthe Original Storage Space and Option Storage Space have an effect on or be adjusted by Section 4.02 of this Lease.

Appears in 1 contract

Samples: Office Lease (Ismie Holdings Inc)

Rent. (a) Commencing on During the Commencement DateSublease Term, Subtenant shall pay to Sublandl- ord monthly base full service gross rent ("Monthly Rent"), in advance, in the amounts set forth below; PROVIDED, HOWEVER, that in no event shall the Monthly Rent exceed the Base Rent paid by Sublandlord to Master Landlord under the Master Lease: Monthly Rent Per Rentable Square Foot Monthly Installment Period $.75 of Rent ------ ------- Commencement Date $18,000.00 through March 31, 2000 April 1, 2000 $.84 $20,160.00 through December 1, 2000 In addition to Monthly Rent”) , Subtenant shall pay to Sublandlord during Subtenant's share of Facility Operating Expenses in accordance with the term terms of this SubleaseSection 9 below ("Additional Rent," and together with Monthly Rent, without offsetcollectively, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00"Rent"). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition Subtenant's obligation to Monthly Base Rentpay Rent and other amounts due hereun- der is independent of any other covenant in this Sublease. Except as otherwise set forth in the Master Lease, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14Rent shall be paid, below)without notice, (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord directly to Sublandlord at the address set forth in Paragraph 15 below. (c) Monthly Rent shall be payable to Sublandlord, in advance, without prior notice, demand or offset, on or before the first day of each calendar month during the term hereof. To the extent that Additional Rent is billed from time to time to Sublandlord by Master Landlord, such Additional Rent shall be paid by Subtenant to Sublandlord within 10 days after Subtenant); (iii) any charges permitted by and 's receipt of an invoice therefor. To the extent that Additional Rent is payable on an estimated basis pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, the estimated amounts of Additional Rent and all other costs and expenses payable due hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis as and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be when Monthly Rent is paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultadjusted between the parties (with appropriate reimbursements or additional payments) when the actual Additional Rent due under the Master Lease has been determined.

Appears in 1 contract

Samples: Asset Purchase Agreement (Sbe Inc)

Rent. (a) Commencing on Collected rent under the Commencement Leases shall be apportioned as of the Closing Date. With respect to any rent which is uncollected as of the Closing Date, Subtenant after Closing Buyer shall pay monthly base full service gross to Seller any rent (“Monthly Base Rent”) actually collected which is applicable to Sublandlord during the term of this Subleaseperiod preceding the Closing Date, without offsetprovided, deduction or abatementhowever, which Monthly Base Rent that all rent collected by Buyer shall be applied first to all unpaid rent accruing after the Closing Date, and then to unpaid rent accruing prior to the Closing Date. Buyer shall not be obligated to take any steps to recover any rent arrearages. Seller shall be permitted to pursue collection of any rent arrearages applicable to the period prior to the Closing, provided that Buyer shall not incur any, and Seller shall indemnify Buyer against all cost, expense or liability in connection therewith, and provided further that Seller shall not commence any legal or equitable proceedings in the amount nature of Sixty-Five Thousand an unlawful detainer, eviction or other proceeding which seek to terminate any tenant's right of possession of its leased premises or result in a lien or encumbrance on such leased premises. If any tenants are required to pay percentage rent, escalation charges for real estate taxes, operating expenses, CPI adjustments or other charges of a similar nature ("Additional Rent") and No/100 Dollars ($65,000.00)any Additional Rent is collected by Buyer or Seller which is attributable in whole or in part to any period during which the respective party did not own the Property, such party shall promptly pay to the other party the other party's proportionate share thereof, less a proportionate share of any reasonable attorney's fees, costs and expenses of collection thereof. Monthly Base All Additional Rent for any partial month at collected by Buyer shall be applied first to unpaid Additional Rent accruing after the beginning or Closing Date, and then to unpaid Additional Rent accruing prior to the Closing Date. If tenants pay Additional Rent on an estimated basis, then promptly following the end of the term of this Sublease underlying fiscal period Buyer shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the reconcile actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use 7 with tenants' estimated payments of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant any net debit or credit to the landlord resulting from such reconciliation shall be referred to collectively as “rent.” All Monthly Base Rent payments apportioned between Buyer and Seller. Any sums received from the tenant on account of the termination of the United States Postal Service lease shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultSeller.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pacific Gulf Properties Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during Throughout the term of this SubleaseLease, Tenant shall pay to Landlord, without offsetdemand, deduction deduction, set-off or abatementcounterclaim, the rent, which Monthly Base is hereby defined as the sum of the Minimum Rent and all additional rent, when and as the same shall be due and payable hereunder. Unless otherwise stated, all sums of money or charges of any kind or nature in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base addition to Minimum Rent for any partial month at the beginning payable by Tenant to Landlord pursuant to this Lease or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (exhibits attached hereto are defined as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any "additional services requested by Subtenant that rent" and are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within due ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenantdemand, without any deduction, set-off or counterclaim, and failure to pay such obligations sums of money or charges shall survive carry the expiration same consequences as Tenant's failure to pay rent. All payments and charges required to be made by Tenant to Landlord hereunder shall be payable in United States funds, at the address to be provided by Landlord or earlier termination Xxxxxxxx’s representative and may be changed from time to time written notice from Landlord to Tenant. If Landlord shall incur any charge or expense on behalf of Tenant under the terms of this Sublease. 4510092v4 / 101022.0001 Lease, or Landlord elects to cure any default of Tenant under this Lease, or is forced to incur any other expense arising from a default by Tenant (cincluding, without limitation, reasonable attorneys' fees and disbursements in instituting, prosecuting or defending any suits, actions or proceedings [including any bankruptcy or insolvency proceedings]) Notwithstanding Subtenant’s obligation to pay Additional Rentenforce Landlord's right under this Lease, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. sums so paid by Landlord with all interest (d) Monthly Base Rentat the rate set forth in Section 3.05 hereof), Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments damages shall be paid by Tenant to Sublandlord on a monthly basis Landlord upon written demand and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) if not immediately paid shall be paid deemed to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord be additional rent, and in addition to and not in limitation of any other rights and remedies which Landlord may impose a late charge of five percent (5%) have in case of the amount due or $100failure by Tenant to pay such sums when due, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and such non-exclusive remedy, Sublandlord may also treat failure payment shall entitle Landlord to pay on the first day remedies available to it hereunder for non-payment of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultrent.

Appears in 1 contract

Samples: Lease Agreement

Rent. (a) Commencing Tenant shall pay to Landlord, by check to be received at the business address of Landlord designated herein, on or before the first day of each month during the Term of this Lease, the following Base Rent: $5,833.00 per month for the two-year initial term of the Lease, which amount shall be adjusted effective as of the first day of any renewal term in the manner provided in Paragraph VI below. In addition thereto, as an integral portion of the rent and as more particularly set forth as a covenant herein, Tenant shall pay Additional Rent, consisting of all insurances required herein, all taxes that may be assessed upon the Premises as provided herein, and the cost of all maintenance on the Commencement DatePremises as provided herein. Base Rent and Additional Rent, Subtenant along with all other sums that become payable by Tenant to Landlord under this Lease, whether paid to Landlord directly, or paid to a third party for the benefit of Landlord and the Premises, are referred to herein as "Rent." Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, all Rent promptly when due without offsetnotice or demand therefor and without any abatement, deduction or abatementoff set, which Monthly for any reason whatsoever, except as may be expressly provided in this Lease. If the Tenant's obligation to pay Base Rent does not commence on the first day of a calendar month, or does not expire on the last day of a calendar month, the Base Rent payable by Tenant on the first fractional month, or the last fractional month, as the case may be, shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00)prorated for said month. Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Term, and Base Rent, Subtenant is responsible Rent for the payment first full calendar month of the following: (i) the Parking Charges (as defined in Section 14Term, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid upon execution of this Lease. Tenant acknowledges that Tenant's late payment of Rent due Landlord will cause Landlord to Sublandlord on a monthly basis incur costs not contemplated by this Lease, the exact amount of such cost being extremely difficult and are impractical to ascertain. Therefore, if Landlord does not receive any portion of the Rent due and payable in advance on the first day of each month. All other rent from Tenant within five (including Additional Rent5) shall be paid to Sublandlord within ten (10) business days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of notice to Tenant that such payment is overdue, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the amount overdue amount, which late charge (a) shall be due and payable on demand, (b) constitutes liquidated damages for each delinquent payment under applicable law, and (c) the payment of late charges and the payment of interest are distinct and separate from one another in that the payment of interest is to compensate Landlord for the use of Landlord's money by Tenant, while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by Landlord in handling and processing delinquent payments. By their execution of this Lease, Landlord and Tenant confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or $100, whichever is greater, for to any rent payment not received on the date dueother default under this Lease. In additionAdditionally, all amounts not paid by Subtenant when due such delinquent Rent, plus any late charge, shall bear interest at the rate of ten fourteen percent (1014%) per annum annum, or, if lower, the maximum interest rate permitted by law (as applicable, the "Default Rate"), from the date due until paid. As a cumulative and non-exclusive remedyIf any payment of Rent is returned for insufficient funds, Sublandlord Landlord may also treat failure require Tenant to pay on the first day of a month the Monthly Base Rent payment for such month as a Default all future payments by Subtenant, and shall be entitled to any and all remedies for such Defaultcashier's check.

Appears in 1 contract

Samples: Lease Agreement (Pyramid Breweries Inc)

Rent. A. Subtenant shall pay to Sublandlord, in advance, in monthly installments, without withholding, offset or reduction (aexcept as otherwise expressly provided herein), Basic Rent in the following amounts: (i) Commencing for the period starting on the Commencement Date and ending on the day preceding the first anniversary thereof, $543,354.00 per annum, payable in monthly installments of $45,279.50; and (ii) for the period starting on the first anniversary of the Commencement Date and ending on the Expiration Date, $559,335.00 per annum, payable in monthly installments of $46,611.25. Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) be entitled to Sublandlord during its pro rata share of any reduction or abatement of Basic Rent to the term extent of this Sublease, without offset, deduction any actual reduction or abatement, which Monthly abatement of Base Rent shall be in allocable to the amount Subleased Premises received by Sublandlord under the terms of Sixty-Five Thousand and No/100 Dollars ($65,000.00)the Prime Lease. Monthly Base Basic Rent for any partial month calendar months at the beginning or the end of the term of this Sublease Term shall be prorated on a daily basis. Subtenant acknowledges that Sublandlord’s payments of Fixed Rent for the basis Premises are paid to Prime Landlord on the first, day of a 30-day each calendar month during the Term and Subtenant therefore covenants and agrees that its payments of Basic Rent hereunder shall be paid to Sublandlord at least five (5) business days prior to the first of each calendar month. (b) In addition to Monthly Base RentB. Subtenant hereby acknowledges that the Subleased Premises are separately metered for electricity. During the Sublease Term, Subtenant is responsible for shall pay, directly to the payment appropriate utility provider, any and all costs of electricity utilized in the following: (i) Subleased Premises and in support of any of Subtenant’s equipment, wherever located. C. During the Parking Charges (as defined Sublease Term, in Section 14, below), (ii) the actual expenses incurred by Sublandlord for event that Subtenant shall request any additional services requested or utilities to the Subleased Premises (including, without limitation, for HVAC) for which an additional charge is imposed by Prime Landlord, Subtenant shall promptly pay such amount to Prime Landlord; provided, however, that if Prime Landlord requires Sublandlord to pay for any such services for the benefit of Subtenant, then Subtenant shall reimburse Sublandlord for such costs within fifteen (15) days after Subtenant’s receipt of an invoice therefor from Sublandlord. D. All amounts payable by Subtenant that are to Sublandlord pursuant to this Sublease in addition to Basic Rent shall be deemed to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent” and, in the event of any non-payment thereof, Sublandlord shall have all of the rights and remedies provided herein (including, without limitation, those rights and remedies set forth in Article 8 of the Prime Lease and incorporated herein by reference), at law or in equity for non-payment of rent. All such The obligation of Subtenant to pay to Sublandlord all amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to SubtenantBasic Rent and Additional Rent due hereunder, and such obligations under the Prime Lease as and to the extent incorporated herein and as modified hereby, shall survive the expiration of the Sublease Term or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Sublease (Tokai Pharmaceuticals Inc)

Rent. (ai) Commencing The Base Rent rate(s) per rentable square foot for the Expansion Space shall be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises on the date the term for the Expansion Space commences, and shall increase at such times and in such amount as Base Rent for the initial Subleased Premises, it being the intent of Sublandlord and Subtenant that the Base Rent rate(s) per rentable square foot for the Expansion Space shall always be the same as the Base Rent rate(s) per rentable square foot for the initial Subleased Premises. (ii) Subtenant shall pay Operating Costs for the Expansion Space on the same terms and conditions set forth in Section 4 of this Sublease, provided that Subtenant’s Percentage Share shall be increased appropriately to account for the addition of the Expansion Space. (iii) The Security Deposit will be increased by an amount equal to: (A) if Subtenant delivers its Exercise Notice prior to the first (1st) anniversary of the Commencement Date, Subtenant shall pay monthly base full service gross rent six (“Monthly Base Rent”6) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly months’ Base Rent shall be initially payable for the Expansion Space; or (B) if Subtenant delivers its Exercise Notice following the first (1st) anniversary of the Commencement Date, (x) six months Base Rent payable for the Expansion Space multiplied by (y) a fraction, the numerator of which is the number of complete or partial calendar months remaining in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end Term as of the term date Subtenant delivers its Exercise Notice and the denominator of this Sublease shall be prorated on which is forty-eight (48) (the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, Additional RentFraction”). All Subtenant will deliver such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission increased portion of a written invoice therefor by Sublandlord the Security Deposit prior to Subtenant, and ’s occupancy of the Expansion Space (but Subtenant’s failure to timely deliver such obligations shall survive increased portion of the expiration or earlier termination Security Deposit will not postpone the commencement of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall for the Expansion Space). Any such additional Security Deposit will be paid subject to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent reduction to an amount equal to two (including Additional Rent2) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly months’ Base Rent payment for such month as a Default by Subtenantthe Expansion Space, as, when and shall be entitled if the initial Security Deposit is reduced pursuant to any and all remedies for such DefaultSection 5(b) above.

Appears in 1 contract

Samples: Sublease Agreement (Wageworks, Inc.)

Rent. (a) Commencing on the Commencement Date, 6.01 Subtenant shall pay monthly base full service gross to Sublandlord fixed minimum rent (the Monthly Base Fixed Rent”) to Sublandlord during at the term annual rate of this Sublease, without offset, deduction or abatementEIGHT HUNDRED EIGHTY-ONE THOUSAND TWO HUNDRED TEN AND 00/100 ($881,210.00) DOLLARS per annum ($73,434.16 per month), which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a equal monthly basis and are due and payable installments in advance on the first day of each month. All other rent and every calendar month during the term of this Sublease, except that Subtenant shall pay, upon the execution and delivery of this Sublease by Subtenant, the sum of $60,082.16 to be applied against the first monthly installment of Fixed Rent to become due under this Sublease (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of which sum reflects the amount due or $100, whichever is greater, for any rent payment not received on the date dueFree Fixed Rent Credit set forth in Section 6.05 hereof). In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As event the Commencement Date occurs on a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on day other than the first day of a month calendar month, the Monthly Base Fixed Rent payment for such partial calendar month as a Default by Subtenantshall be prorated on the basis of the number of days of the Sublease term within such calendar month, and the balance of the first month’s Fixed Rent theretofore paid shall be entitled credited against the next monthly installment of Fixed Rent. 6.02 Subtenant shall also pay to Sublandlord “Additional Rent” consisting of all such other sums of money as shall become due from and payable by Subtenant to Sublandlord under this Sublease (for default in payment of which Sublandlord shall have the same remedies as for a default in payment of Fixed Rent). Subtenant shall also pay to Sublandlord as Additional Rent any “Subtenant Surcharges”. “Subtenant Surcharges” shall mean any and all remedies amounts other than Fixed Rent payable by Sublandlord under the Master Lease which, by the terms of the Master Lease, become due and payable by Sublandlord to Master Landlord as additional rent or otherwise and which would not have become due and payable but for the acts, requests for services, and/or failures to act of Subtenant, its agents, officers, representatives, employees, servants, contractors, invitees, licensees or visitors under this Sublease, including, but not limited to: (i) any increases in Master Landlord’s fire insurance premiums, to the extent resulting solely from any act or omission of Subtenant, (ii) any charges to Sublandlord on account of any additional services requested by, and furnished to, Subtenant under the Master Lease, (iii) any charges which are imposed on Sublandlord, to the extent that such Defaultcharges are attributable to the Subleased Premises or the use thereof by Subtenant or services or utilities provided thereto pursuant to the terms of the Master Lease or by reason of Subtenant’s request, and (iv) any additional charges to Subtenant on account of Subtenant’s use or consumption in connection with the Subleased Premises, including, without limitation, elevator, electrical or HVAC usage in excess of normal usage, provided same are charged by Master Landlord to Sublandlord pursuant to the terms of the Master Lease. Fixed Rent and Additional Rent are hereinafter sometimes collectively referred to as “Rent”. All Additional Rent shall be payable by Subtenant on the earlier to occur of (i) fifteen (15) days after written demand therefor by Sublandlord and (ii) three (3) days prior to the date the corresponding payment of such Additional Rent is payable by Sublandlord to Master Landlord (but in no event less than seven (7) days after written demand therefor).

Appears in 1 contract

Samples: Sublease (BKF Capital Group Inc)

Rent. (a) Commencing 4.1 Tenant promises and agrees to pay Landlord at Landlord's address set forth in the Lease, or such other address as Landlord may provide to Tenant, the Base Rental and all other rent charged under this Lease without deduction or set off, for each month of the entire Lease Term. The first monthly installment of Base Rental shall be payable by Tenant to Landlord contemporaneously with the execution of the Lease, and thereafter, a monthly installment of Base Rental, as may be adjusted in accordance with the provisions of the Lease, shall be due and payable, in advance, without notice or demand on or before the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord first day of each succeeding calendar month during the term of this Sublease, without offset, deduction or abatement, which Monthly Lease Term. The Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent Rental for any partial fractional month at the beginning or the end of the term Lease Term shall be prorated. 4.2 The Base Rental is determined, in part, on Landlord's estimate of Basic Costs incurred by Landlord each year in connection with its ownership, operation and management of the Building. In the event that the Basic Costs increase, or are estimated by Landlord to increase, above the levels charged to Landlord on the Date of the Lease, Landlord shall charge to Tenant and Tenant agrees to pay as additional rental Tenant's Pro Rata Share of any such increases in Basic Costs in accordance with the provisions of Exhibit "C". 4.3 The Security Deposit shall be paid to Landlord contemporaneously with the execution of the Lease. Landlord shall hold the Security Deposit without liability for interest and as security for the performance by Tenant of Tenant's covenants and obligations under the Lease, it being expressly understood that such deposit shall not be considered an advance payment of rental or a measure of Landlord's damages in case of default by Xxxxxx. Upon the occurrence of any Event of Default by Xxxxxx, Landlord may, from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrearage of rent and any other damage, injury, expense or liability caused to Landlord by such Event of Default. Following any such application of the Security Deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. If Tenant is not then in default of this Sublease Lease, any remaining balance of the Security Deposit shall be prorated on returned by Landlord to Tenant upon termination of the basis Lease. If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to the transferee and thereafter shall have no further liability for the return of a 30-day monththe Security Deposit. (b) In addition 4.4 Tenant hereby acknowledges that late payment to Monthly Base Rent, Subtenant is responsible for the payment Landlord of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master rent due hereunder will cause Landlord to Sublandlord shall incur costs and inconvenience not contemplated by the Lease, the exact amount of which will be payable extremely difficult to Sublandlord ascertain. If any rent due from Tenant is not received by Subtenant); (iii) any charges permitted by and pursuant to the Sublease Landlord or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord Landlord's designated agent within ten (10) days after submission of a written invoice therefor by Sublandlord its due date, then Tenant shall pay to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively Landlord as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedyof such overdue amount, Sublandlord may also treat plus any attorney's fees incurred by Landlord by reason of Tenant's failure to pay rent when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of Tenant's late payment. Xxxxxxxx's acceptance of such late charges shall not constitute a waiver of Xxxxxx's default with respect to such overdue amount or estop Landlord from exercising any of the other rights and remedies granted hereunder. 4.5 All payments required of Tenant under the Lease shall bear interest, beginning on the first day after the due date until paid at the lesser of twelve percent ( 12 %) per annum or the maximum lawful rate ("Default Interest"). In no event, however, shall the charges permitted under this paragraph or elsewhere in the Lease, to the extent the same are considered to be interest under applicable law, exceed the maximum lawful rate of interest. 4.6 No payment by Tenant or receipt by Landlord of a month lesser amount than the Monthly Base Rent rent due under this lease shall be deemed to be other than on account of the earliest rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment for such month as a Default by Subtenantrent be deemed an accord and satisfaction, and shall be entitled Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such rent or to pursue any and all remedies for such Defaultother remedy provided in this lease or at law or in equity.

Appears in 1 contract

Samples: Office Lease (Phymed Inc)

Rent. (a) Commencing Sublessee shall pay directly to Sublessor, as rent, monthly payments of $5,000 (“Monthly Rent”), payable on or before the first day of each month during the Sublease Term at Sublessor’s address set forth above. The Gross Rent, as defined below, payable with respect to September, 2016, shall be due on or before the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges Sublessee covenants and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation agrees to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose Sublessor a late charge of fee equal to five percent (5%) of the overdue amount due or $100, whichever if any payment is greater, for any rent payment not received on the date dueby Sublessor within five (5) days of its due date. In addition, all amounts not paid by Subtenant when due any such delinquent payments shall bear interest at the rate of ten eighteen percent (1018%) per annum until paidannum; provided, however, that nothing herein contained shall be construed or implemented in such a manner as to allow Sublessor to charge or receive interest in excess of the maximum rate allowed by law. As a cumulative All such late fees and non-exclusive remedyinterest charges shall be payable upon demand. (c) In addition to the Monthly Rent, Sublandlord may also treat failure Sublessee shall pay its prorata share of Tenant’s Pro Rata Share of Basic Costs, as defined in Exhibit C to the Lease, except that Sublessee’s prorata share shall be based on 12,000 rentable square feet so that Sublessee shall pay to Sublessor 36.2% of Tenant’s Rent’s Pro Rata Share of Basic Costs charged to the Master Premises under the Lease (“Sublessee’s Share of Basic Costs” and collectively with Monthly Rent, “Gross Rent”). Sublessee’s Share of Basic Costs shall be paid monthly with the Monthly Rent, based on the first day estimated payments of a month the Monthly Base Rent payment for such month as a Default Tenant’s Pro Rata Share of Basic Costs provided by Subtenant, Landlord and shall be entitled subject to annual reconciliations, in the same manner as provide in Lease. The estimate of Sublessee’s Share of Basic Costs attributable from the Commencement Date through December 31, 2016 is $12.13 per square foot, including janitorial of $1.39 per square foot and utilities of $2.79 per square foot (subject to proration pursuant to subparagraph (e) below and annual reconciliation as provided above). (d) In addition to Gross Rent, Sublessee shall pay all other sums or payments which are due to Landlord under the Lease as a result of a service or materials supplied to Sublessee in addition to those provided by Landlord under the Lease or otherwise due to Sublessee’s negligent acts, willful misconduct or omissions or Sublessee’s acts or omissions which violate the Lease; such payments due by Sublessee, together with all other payments due by Sublessee under this Sublease, including, without limitation, the late fee and interest in clause (i) above, shall be defined as “Additional Rent” and shall, together with the Gross Rent, be defined as “Rent.” (e) All Rent shall be due without offsets or deductions. Rent due for less than a full calendar month shall be prorated as provided in the Lease. The Premises are subject to re-measurement, as provided in the Lease, which may result in a change in the calculation of Rent. Sublessee’s consent to pay Rent is independent of any other consent set forth in this Sublease and all remedies for such Defaultshall survive the termination of this Sublease and the Lease.

Appears in 1 contract

Samples: Sublease (Threshold Pharmaceuticals Inc)

Rent. 4.1 The consideration payable by Subtenant for the Premises consists of the Base Rent specified in the Basic Sublease Provisions and Tenant’s Share (aas defined in the Master Lease) of Operating Expenses and Tax Expenses (both as defined in the Master Lease) (“Additional Rent,” and collectively with the Base Rent, “Rent”). Sublandlord shall deliver to Tenant copies of the statements of Additional Rent and reconciliation statements provided to Sublandlord by Master Landlord. Except as may be expressly provided herein, Subtenant’s covenant to pay Base Rent and Additional Rent will be independent of every other covenant in this Sublease. 4.2 Beginning on March 1, 2022, and continuing thereafter on the first day of each month during the Term, Subtenant must pay to Sublandlord in advance, and without notice, demand, deduction or offset, the monthly Base Rent Commencing on the Commencement DateDate and continuing thereafter on the first day of each month during the Term, Subtenant shall must pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Subleasein advance, and without offsetnotice, demand, deduction or abatementoffset, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end 1/12 of the term of this Sublease Additional Rent. Sublandlord and Subtenant shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rentmake reconciliation credits or payments, Subtenant is responsible for the payment as set forth in Section 7.f. of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to SubtenantLease, and such obligations obligation shall survive the expiration or earlier termination of this Sublease, except with respect to any reconciliation statement not delivered by Sublandlord to Subtenant within twelve (12) months after the expiration date of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation Sublandlord shall provide Annual Operating and Tax Expense statement to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) business days after follow receipt from Master Landlord. 4.3 All Rent must be paid to Sublandlord at the “Sublandlord’s written demand therefor. Address for Payment of Rent” specified in the Basic Sublease provisions, or to such other person or such other place as Sublandlord may impose from time to time designate by giving notice in writing to Subtenant. 4.4 If any Rent is not paid when due, Subtenant must pay a late charge to Sublandlord equal to the greater of five percent (a) 5%) % of the delinquent amount‐, or (b) all interest and late charges as Sublandlord would sustain under the Master Lease in the event that Sublandlord were delinquent in paying such amount due or $100under the Master Lease. Neither demand for, whichever is greaternor receipt of, any late charge called for under this Sublease will (i) operate to waive any rent payment not received on the date due. In addition, all amounts not paid default by Subtenant when due shall bear interest at or provide a substitute for Subtenant’s full and timely performance of the rate obligation to pay Base Rent, or (ii) limit the exercise of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, any other right or remedy Sublandlord may also treat failure to pay on the first day have under this Sublease in case of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default’s default.

Appears in 1 contract

Samples: Sublease (Salt Blockchain Inc.)

Rent. (a) Commencing on In addition to the Commencement Dateother obligations of Sublessee set forth herein, Subtenant Sublessee shall pay monthly base full service gross Sublessor as annual rent (“Monthly Base "Basic Rent") to Sublandlord during for the term Sublease Term the sum of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of SixtyTwo Hundred Twenty-Five One Thousand One Hundred Twenty-Two and No/100 Dollars ($65,000.00221,122.00) per annum. An amount equal to one-twelfth (1/12) of such annual rent (Eighteen Thousand Four Hundred Twenty-Six and 83/100 Dollars ($18,426.83). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease ) shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each monthmonth of the Sublease Term, without deduction or offset and without prior notice or demand; provided, however, that all such rentals shall be prorated to account for partial months during the first and/or last months during the Sublease Term. All In addition, Sublessee shall pay sixty-two and one tenth percent (62.1%) of all taxes, assessments, utilities, insurance, common area costs and other rent expenses or costs which Sublessor is hereafter required to pay as Lessee under the Master Lease (including "Additional Rent) "). Installments of Additional Rent shall be paid payable to Sublandlord Sublessor at the same times Sublessor is required to pay such expenses under the Main Lease. For non-monthly installments of Additional Rent, Sublessor shall provide notice of such amounts due within ten three (103) business days after Sublandlord’s written demand thereforof Sublessor's receipt of notice thereof from Master Landlord. Sublandlord may impose a late charge Sublessor shall provide Sublessee with copies of five all supporting information for Additional Rent which Sublessor receives from Master Lessor. Sublessee's obligation for installments of Additional Rent for any period prior to expiration or termination of this Sublease shall survive such expiration or termination. In the event any amount included in the Additional Rent is subject to year-end adjustment under the Master Lease, Sublessee shall be entitled to or responsible for sixty-two and one tenth percent (562.1%) of the amount due it has overpaid or $100, whichever is greater, for any rent payment not received on the date dueunderpaid as to that component of Additional Rent. In addition, all amounts not Rents shall be paid by Subtenant when due shall bear interest to Sublessor at the rate address set forth below. The terms and provisions of ten percent (10%) per annum until paid. As a cumulative Section 4.01 and non-exclusive remedy, Sublandlord may also treat failure Section 4.02 of the Master Lease shall apply to pay on Sublessee in the first day event of a month the Monthly Base delinquent payment of Basic Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultor Additional Rent.

Appears in 1 contract

Samples: Sublease (Hurco Companies Inc)

Rent. Sublessee shall pay to Sublessor, at such place sublessor may from time to time designate, as monthly rental a sum equal to forty-two percent (a42%) Commencing of the monthly rental payable by Sublessor to Landlord under the Master Lease for the leased facilities, payable in advance starting on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord Date on the 15th day of each month thereafter during the term of this the Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in . Regardless of whether Sublessee ceases to occupy portion of the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of Premises during the term of this Sublease the Sublease, Sublessee shall be prorated obligated to pay the full rental amount set above until the Sublease terminates or expires, provided, however, that at such time as Sublessee vacates ten thousand (10,000) square feet or more of the Premises, Sublessor shall adjust the monthly rental payable by Sublessee to Sublessor, one time only, as follows: Commencing on the basis next day that rent under Sublease becomes due after Sublessee vacates the premises as described above, Sublessee shall pay to Sublessor as monthly rental a sum equal to the product of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i1) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred monthly rental payable by Sublandlord for any additional services requested by Subtenant that are Sublessor to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or under the Master Lease as a result for the leased premises and 2) the quotient of actions or omissions a) the remaining number of square feet of the Subtenant; Premises being occupied by Sublessee and (ivb) any actual and direct expenses Sublandlord incurs by reason the square footage of Subtenant’s nonthe Common Areas. Further, Sublessee shall pay twenty-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (525%) of all utility charges incurred with respect to the amount due or $100, whichever is greater, for any rent payment not received on leased facilities during the date dueterm of the Sublease upon demand by Sublessor. In addition, all amounts the parties agree to share common area maintenance and general operating costs, including, but not paid by Subtenant when due shall bear interest at limited, to maintenance of the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedyHVAC system, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenantjanitorial services, and shall be entitled to any and all remedies for other such Defaultcosts, on an equitable basis.

Appears in 1 contract

Samples: Lease Agreement (Supertex Inc)

Rent. (a) Commencing on the Commencement Date, 5.1. Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatementSublease Term as base rental for the Building the following monthly amounts, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such monthly amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each calendar month (“Base Rent”): Months 1-4: $33,250.00 NNN per month Months 4-12: $66,500.00 NNN per month Months 13-24: $68,495.00 NNN per month Months 25-36: $70,549.85 NNN per month Months 37-48: $72,666.35 NNN per month 5.2. If the Sublease Term commences on a date other than the first day of a calendar month, then Subtenant shall pay Base Rent for the fractional month on a per diem basis (calculated on the basis of a thirty (30) day month) until the first day of the month, and thereafter the Base Rent shall be paid in equal monthly installments on the first day of each and every month in advance. All other rent (sums to be paid by Subtenant to Sublandlord, including Additional without limitation Base Rent) , shall be paid in lawful money of the United States of America, shall be paid without deduction or offset, prior notice or demand, and shall be paid to Sublandlord within ten (10) days after Sublandlord’s via wire transfer pursuant to written demand thereforinstructions that Sublandlord shall deliver to Subtenant. Sublandlord may impose a late charge of five percent (5%) No measurement of the Building after the execution of this Sublease shall alter any amount payable hereunder by Subtenant, including the Base Rent. 5.3. Subtenant acknowledges and agrees that this is an absolute triple net lease to Sublandlord, and that Subtenant shall pay Additional Rent to Sublandlord during the Sublease Term, in addition to the Base Rent. Additional Rent shall include without limitation— 5.3.1. All sums (excluding Base Rent) payable by Sublandlord to Landlord pursuant to the Master Lease with respect to the Building during the Sublease Term, including without limitation Lease Agreement Sections 4.2 and 4.4, but excluding (i) any such sums imposed by Landlord under the Master Lease to the extent due to any breach of the Master Lease committed or $100caused by Sublandlord and not caused by a breach of Subtenant’s obligations under this Sublease and (ii) any amounts payable under the Lease Amendment; and 5.3.2. All charges, whichever costs and expenses that Subtenant is greaterrequired to pay hereunder, for any rent payment not received on together with all late charges, interest, costs and expenses including attorney fees that may accrue thereto in the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate event of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat Subtenant’s failure to pay on such amounts, and all damages, reasonable costs and expenses which Sublandlord may incur by reason of Subtenant’s default or breach of this Sublease. 5.4. Subtenant acknowledges that amounts due as Additional Rent may be billed to and payable by Subtenant in accordance with the first day provisions of a month Lease Agreement Section 4.2. 5.5. In the Monthly event of Subtenant’s non-payment of Base Rent payment for such month as a Default or Additional Rent, Sublandlord shall have all rights and remedies allowed by Subtenant, and shall be entitled to any and all remedies for such Defaultlaw.

Appears in 1 contract

Samples: Sublease Agreement (ShockWave Medical, Inc.)

Rent. (a) Commencing 4.1 Tenant shall pay to Landlord the Annual Base Rent, as it may be adjusted pursuant to Section 3.2, commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly . The Annual Base Rent shall be paid in the amount Monthly Installments of Sixty-Five Thousand and No/100 Dollars ($65,000.00)Base Rent. Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly the Annual Base Rent, Subtenant is responsible for Tenant shall pay as Additional Rent (the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”)) certain charges designated in this Lease. All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, The Annual and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments are sometimes generically referred herein as the “Base Rent,” and the Base Rent and Additional Rent collectively the “Rent.” 4.2 Tenant shall pay Landlord the first Monthly Installment of Base Rent simultaneously with the execution and delivery of this Lease by Tenant. All other Rent will be paid to Sublandlord on a monthly basis and are due and payable the order of Landlord, in advance advance, except as expressly set forth in Section 11.3, without any abatement, setoffs or deductions, on the first day of each and every calendar month (the “Rent Day”) at Landlord’s Office, or at such other place as Landlord may designate in writing. In the event the Commencement Date is other than the first day of a calendar month, the Rent for the partial first calendar month of the Term will be prorated on a daily basis based on the number of days in the month. All other rent (including Additional Rent) Rent for such partial calendar month shall be paid on the Commencement Date. Any Rent or other sums, if any, payable by Tenant to Sublandlord Landlord under this Lease which are not paid within ten five (105) days after Sublandlord’s written demand therefor. Sublandlord may impose they are due, and any Rent or other sums received and accepted by Landlord more than five (5) days after they are due, will be subject to a late charge of five percent (5%) percent of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when Such late charges will be due shall bear interest at and payable as Additional Rent on or before the rate of ten percent (10%) per annum until paid. As a cumulative next Rent Day. 4.3 Landlord and non-exclusive remedy, Sublandlord may also treat failure to pay on Tenant acknowledge and agree that the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and due hereunder together with any adjustments thereto made during the Term of this Lease shall be entitled absolutely net of all costs, expenses, taxes (real and personal), assessments and charges of every kind and nature whatsoever relating to the ownership, occupancy or use of the Premises so that the rental together with any such adjustments constitute the minimum income realized by Landlord from the Premises. Tenant will indemnify and all remedies for hold harmless Landlord from and against such Defaultcosts, expenses and charges.

Appears in 1 contract

Samples: Lease Agreement (Mercantile Bank Corp)

Rent. (a) Commencing on Subtent covenants and agrees to pay rent to Sublandlord, at Sublandord’s address shown herein or at such place as Sublandlord shall from time to time designate in writing and otherwise in accordance with the Commencement Dateprovisions of the Lease, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or Annual Fixed Rental Rate in equal installments of 1/12th the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable Annual Fixed Rental Rate in advance on the first day of each month. All other rent calendar month included in the Term, and for any portion of a calendar month at the beginning or end of the Term, at that rate payable in advance for such portion. (including b) Subtenant covenants and agrees to pay to Sublandlord as Additional Rent) shall be paid to Sublandlord , within ten (10) days after of demand therefor by Sublandlord, Subtenant’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) Share of the amount due Operating cost Escalation. (c) Subtenant covenants and agrees to pay to Sublandlord as Additional Rent, within ten (10) days of demand therefor by Sublandlord, subtenant’s Share of the Real Estate Tax Escalation. (d) Subtenant shall pay directly to the proper authorities charged with the collection thereof of all charges for electricity and (to the extent not otherwise included in Operating Costs) other utilities used or $100, whichever is greater, for any rent payment not received consumed on the date due. In additionsubleased Premises by subtenant or any party claiming by, all amounts not paid by through or under Subtenant. (e) Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative covenants and non-exclusive remedy, Sublandlord may also treat failure agrees to pay on monthly to Landlord all charges due under the first day of a month Lease for (i) any after-hours heating, air conditioning or ventilation services supplied to Subtenant in connection with the Monthly Base Rent payment Subleased Premises and (ii) all other services supplied to Subtenant and/or the Subleased Premises beyond the services required to be supplied to the Subleased Premises for Sublandlord by Landlord at no additional charge to Sublandlord. Landlord shall xxxx Subtenant directly for all such month as a Default by Subtenant, and shall be entitled charges referred to any and all remedies for such Defaultin the preceding sentence.

Appears in 1 contract

Samples: Sublease Agreement (GlassHouse Technologies Inc)

Rent. Tenant shall pay rent consisting of (ai) Commencing Base Rent, and (ii) all other sums that become payable by Tenant under this Lease, whether to Landlord directly, or to a third party for the benefit of Landlord and the Premises (“Additional Rent”). Base Rent and Additional Rent are referred to herein as “Rent.” All Rent shall be paid in advance on the Commencement Date, Subtenant first day of each month unless otherwise provided herein. Tenant shall pay monthly base full service gross rent (“Monthly Base to Landlord, with all Rent”) , the portion of any rent, transaction, privilege, business activity, or other tax now or hereafter imposed on any Rent that will be paid by Landlord attributable to Sublandlord during such Rent. If any such tax is payable only above a certain level of total Project rents, then the term amount payable by Tenant will be estimated by Landlord based on the ratio of this SubleaseRents paid by Tenant divided by total anticipated rental from the Project for that year; Landlord shall reconcile the estimated payments with the actual amount of total rental from the Project and the total of such tax paid by Landlord, and any adjustment payment or credit will be made, on the same basis as applies to Operating Expense reconciliations pursuant to Section 4 below. All Rent shall be paid in lawful money of the United States to Landlord, at such place as Landlord shall designate by written notice to Tenant from time to time. Tenant shall pay all Rent promptly when due without offsetnotice or demand therefor and without any abatement, deduction or abatementoff set, which Monthly for any reason whatsoever, except as may be expressly provided in this Lease. If the Tenant’s obligation to pay Base Rent does not commence on the first day of a calendar month, or does not expire on the last day of the calendar month, the Base Rent payable by Tenant on the first fractional month, or the last fractional month, as the case may be, shall be in prorated for said month. Base Rent for the amount first full calendar month of Sixty-Five Thousand the Term for which Base Rent is payable shall be paid upon execution of this Lease, and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term Term shall be due on the Commencement Date. Tenant acknowledges that Tenant’s late payment of Rent due Landlord will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such cost being extremely difficult and impractical to ascertain. Therefore, if Landlord does not receive any Rent due from Tenant within five (5) days of when due more than once in any twelve (12) month period of the Term of this Sublease Lease, Tenant shall be prorated on the basis of a 30-day month. (b) In addition pay to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any Landlord an additional services requested by Subtenant that are sum equal to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount overdue amount, which late charge shall be due and payable on demand. The payment of late charges and the payment of interest are distinct and separate from one another in that the payment of interest is to compensate Landlord for the use of Landlord’s money by Tenant, while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by Landlord in handling and processing delinquent payments. By their execution of this Lease, Landlord and Tenant confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or $100, whichever is greater, for of any rent payment not received on the date dueother default under this Lease. In additionAdditionally, all amounts not paid by Subtenant when due such delinquent Rent, shall bear interest at the rate of ten five percent (105%) plus the Prime Rate (as hereinafter defined) per annum from the date due until paid; provided however, that the foregoing interest shall not apply to the first such late payment in any twelve (12) month period of the Term of this Lease until following written notice to Tenant and the expiration of five (5) days thereafter without cure, or, if lower, the maximum interest rate permitted by law (as applicable, the “Default Rate”), from the date due until paid. As For purposes hereof, the “Prime Rate” shall be the per annum interest rate publicly announced by Bank of America as its prime or base rate (or, if Bank of America ceases to exist or to announce a cumulative and non-exclusive remedyprime or base rate, Sublandlord the prime or base rate of another national banking association). If any payment of Rent is returned for insufficient funds, Landlord may also treat failure require Tenant to pay on the first day of a month the Monthly Base Rent payment for such month as a Default all future payments by Subtenant, and shall be entitled to any and all remedies for such Defaultcashier’s check.

Appears in 1 contract

Samples: Lease Agreement (Twist Bioscience Corp)

Rent. (a) Commencing as of the Commencement Date and continuing thereafter on the first (1/st/) day of each and every month during the Term, Sublessee shall pay to Sublessor in advance $18,859.50 ($4.50 per square foot) as rent for the Subleased Premises (the "Rent"). Rent for any period less than a calendar month shall be a pro rata portion of the monthly installment. Rent shall be payable to Sublessor, in advance, in lawful money of the United States, without prior notice, demand, or offset (except as permitted in the Master Lease), on or before the first day of each calendar month during the Term, at the address set forth herein below or at such other address as may be designated in writing from time to time. The first month's Rent payable hereunder shall be paid by Sublessee upon the Commencement Date. In addition, upon the Commencement Date, Subtenant Sublessee shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during Sublessor the term sum of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Twenty Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease 20,000) that shall be prorated on the basis of held as a 30-day monthsecurity deposit by Sublessor. (b) In addition to Monthly Base Rent, Subtenant is Sublessor shall be responsible for the payment of the following: property taxes, property insurance (i) the Parking Charges (as defined in Section 14, belowBuilding only), common area maintenance, janitorial (ii) office area and lavatories in the actual expenses incurred by Sublandlord for any additional Subleased Premises, only), HVAC (unless such services are requested by Subtenant Sublessee during times when such services are not required by Sublessor), utilities on the Premises, property dues, elevator maintenance, sprinklers, security, garbage, pest control, earthquake insurance, water treatment, HVAC maintenance, landscaping and parking lot maintenance, autoclave and cagewasher preventive maintenance, or any other costs that are Sublessor is required to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or pay under the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of pursuant to its obligations under terms. Anything in this Sublease (collectivelyto the contrary notwithstanding, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant Sublessor shall not be responsible for separate payment any other services required by Sublessee. Other services that are required by Sublessee may be negotiated between Sublessor and Sublessee and, if appropriate, billed to Sublessee at Sublessor's actual cost for such service. (c) In the event of Operating Expenses any casualty or condemnation affecting the Subleased Premises, Rent payable by Sublessee shall be abated hereunder, but only to the extent that Rent under the Master LeaseLease is abated with respect to the Subleased Premises, and Sublessee waives any right to terminate the Sublease in connection with such casualty or condemnation except to the extent the Master Lease is also terminated as to the Subleased Premises or any material portion thereof. In the event of the termination of Sublessor's interest as "Tenant" under the Master Lease for any reason, then this Sublease shall terminate coincidentally therewith without such termination constituting a default of Sublessor or Sublessee. In the event of any taking, Sublessee shall have no claim to any award. In the event of any casualty, Sublessor shall perform such restoration as is required of Sublessor pursuant to the Master Lease and, to the extent such casualty is the result of Sublessee's action or inaction, Sublessee shall restore the Subleased Premises as soon as reasonably practicable. (d) Monthly Base RentAnything in this Sublease to the contrary notwithstanding, Additional Rent and all other costs and expenses payable hereunder by Subtenant Sublessee shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenantliable for, and shall be entitled pay and deliver evidence of payment prior to delinquency, all taxes levied against any personal property, fixtures, machinery, equipment, apparatus, systems and all remedies for such Defaultappurtenances or improvements placed by or on behalf of Sublessee in, about, upon or in connection with the Subleased Premises.

Appears in 1 contract

Samples: Sublease (Tularik Inc)

Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on February 1, 2019 (a) Commencing on as the same may be extended as provided in Section 4.1, the “Rent Commencement Date”), Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly sums set forth in Section 2.3. Base Rent shall be paid in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (equal monthly installments as defined set forth in Section 142.3, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable each in advance on the first day of each monthand every calendar month during the Term. 7.2. All other In addition to Base Rent, Tenant shall pay to Landlord as additional rent (including Additional Rent) at times hereinafter specified in this Lease (a) Tenant’s Adjusted Share of Building of Operating Expenses (as defined below), (b) Tenant’s Pro Rata Share of Lab Building of Operating Expenses, (c) the Property Management Fee (as defined below), (d) sums due for consulting services provided to Tenant by Landlord at Tenant’s request if those services exceed the customary tenant-servicing efforts of Landlord in Landlord’s reasonable discretion (Landlord shall have sole discretion with respect to the provision of such services, if any, and how those services will be billed to Tenant, including the use of a taxable subsidiary to provide such services and xxxx for the same); and (e) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. Tenant shall pay Additional Rent with respect to the entire Term after the Rent Commencement Date, including any extensions thereof or any holdover periods, regardless of whether Tenant is obligated to pay Base Rent with respect to any such period or portion thereof; provided, however, that notwithstanding anything set forth herein to the contrary, Tenant shall pay any utility charges for the Premises that may be included in Additional Rent for the entire Term (any utilities paid directly by Tenant, including without limitation as described in Section 16.2 hereof, may not be included as Additional Rent). 7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) Landlord, without abatement, deduction or offset, except as otherwise expressly set forth in this Lease, in lawful money of the amount due United States of America at the office of Landlord as set forth in Section 2.9 or $100, whichever is greater, for any rent payment not received on the date dueto such other person or at such other place as Landlord may from time designate in writing. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As event the Term commences or ends on a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on day other than the first day of a month calendar month, then the Monthly Base Rent payment for such fraction of a month as a Default by Subtenant, shall be prorated for such period on the basis of the number of days in the month and shall be entitled paid at the then-current rate for such fractional month. 7.4. Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) except as expressly provided herein, any casualty or taking or (d) any other occurrence; and Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any and all remedies for action seeking to recover Rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such Defaultexpiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.

Appears in 1 contract

Samples: Lease (Alnylam Pharmaceuticals, Inc.)

Rent. (a) Commencing on Collected rent under the Commencement Leases shall be apportioned as of the Closing Date. With respect to any rent which is uncollected as of the Closing Date, Subtenant after Closing Buyer shall pay monthly base full service gross to Seller any rent (“Monthly Base Rent”) actually collected which is applicable to Sublandlord during the term of this Subleaseperiod preceding the Closing Date, without offsetprovided, deduction or abatementhowever, which Monthly Base Rent that all rent collected by Buyer shall be applied first to all unpaid rent accruing after the Closing Date, and then to unpaid rent accruing prior to the Closing Date. Buyer shall not be obligated to take any steps to recover any rent arrearages. Seller shall be permitted to pursue collection of any rent arrearages applicable to the period prior to the Closing, provided that Buyer shall not incur any, and Seller shall indemnify Buyer against all, cost, expense or liability in connection therewith, and provided further that Seller shall not commence any legal or equitable proceedings in the amount nature of Sixty-Five Thousand an unlawful detainer, eviction or other proceeding which seek to terminate any tenant's right of possession of its leased premises or result in a lien or encumbrance on such leased premises. If any tenants are required to pay percentage rent, escalation charges for real estate taxes, operating expenses, CPI adjustments or other charges of a similar nature ("Additional Rent") and No/100 Dollars ($65,000.00)any Additional Rent is collected by Buyer or Seller which is attributable in whole or in part to any period during which the respective party did not own the Property, such party shall promptly pay to the other party the other party's proportionate share thereof, less a proportionate share of any reasonable attorney's fees, costs and expenses of collection thereof. Monthly Base All Additional Rent for any partial month at collected by Buyer shall be applied first to unpaid Additional Rent accruing after the beginning or Closing Date, and then to unpaid Additional Rent accruing prior to the Closing Date. If tenants pay Additional Rent on an estimated basis, then promptly following the end of the term of this Sublease underlying fiscal period Buyer shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the reconcile actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use with tenants' estimated payments of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant any net debit or credit to the landlord resulting from such reconciliation shall be referred to collectively as “rent.” All Monthly Base Rent payments apportioned between Buyer and Seller. Any sums received from the tenant on account of the termination of the United States Postal Service lease shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultSeller.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pacific Gulf Properties Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant All obligations of Tenant to make payments to Landlord under this Lease shall constitute Rent. Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be at the times and in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00)manner hereinafter set forth. Monthly Base Rent for any partial month at Subject to the beginning or rent abatement set forth in the end of immediately following paragraph, Tenant shall pay the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Gross Rent, Subtenant is responsible for the payment consisting of the following: Net Rent and Tenant’s Proportionate Share of Estimated Operating Cost and Estimated Impositions (i) the Parking Charges (each as defined in Section 14, below10.01), in twelve (ii12) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance equal installments on the first day of each monthcalendar month during each year of the Term and any extensions thereof. All other rent (including Additional Rent) The calculation of Tenant’s Proportionate Share under Section 10.01 shall be paid made using the same measurement methodology for the Net Rentable Area of the entire Office Section as was used for determining the Net Rentable Area of Leased Premises set forth in the Basic Lease Information Sheet.) Such payments shall be made in lawful money of the United States, in advance without demand, and (except as expressly provided herein) without any reduction, abatement, counterclaim or set off, at the address for Landlord specified on the Basic Lease Information sheet or at such other address as may be designated by Landlord from time to Sublandlord within ten time by written notice provided in accordance with Section 8.06 below. Notwithstanding the foregoing, (10i) days after Sublandlord’s written demand therefor. Sublandlord may impose Gross Rent in respect of the Existing Subleased Premises shall be abated for the period commencing on the Term Commencement Date through the date immediately preceding the Rent Commencement Date set forth in the Basic Lease Information Section, (ii) Gross Rent in respect of the Additional Premises shall be abated for the period commencing on the Delivery Date for the Additional Premises through the date immediately preceding the Rent Commencement Date set forth in the Basic Lease Information (subject to the last sentence of Section 2.01(b) in respect of a late charge delayed delivery of five percent the Additional Premises), and (5%iii) Gross Rent in respect of the Expansion Premises shall be abated for the period commencing on the Delivery Date for the Expansion Premises through the date immediately preceding the Rent Commencement Date set forth in the Basic Lease Information (subject to the last sentence of Section 2.01(c) in respect of a delayed delivery of the Expansion Premises); provided, however, that, in the event of an Event of Default, Tenant shall pay to Landlord a fractional portion of the amount due of such abated Gross Rent, in the ratio that (x) the number of full or $100partial months from the date of default through the originally scheduled Term Expiration Date (without regard to extension under Section 9.01 and not to exceed eighty four months) bears to (y) eighty four (84) months. Payment of Additional Rent (as defined in Section 10.01), whichever is greaterif any, for any rent payment not received shall commence on the date dueTerm Commencement Date for the Subleased Premises and on the applicable Delivery Date for the Additional Premises and (if applicable) the Expansion Premises. In additionIf such rent abatement period expires on a day that is not the last day of a calendar month, all amounts not the Gross Rent due for the portion of such month following such expiration of the rent abatement period shall be prorated on a per diem basis and paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of such month. If the Term terminates on other than the last day of a month the Monthly Base calendar month, then Gross Rent payment provided for such partial month as a Default by Subtenant, and shall be entitled to any and all remedies for equitably prorated on such Defaultdate of termination.

Appears in 1 contract

Samples: Lease (NewStar Financial, Inc.)

Rent. At any time after receipt by Sublandlord of any statement for any Article 4 Rent, or if Sublandlord is at any time obligated to pay any Article 4 Rent, Sublandlord shall promptly deliver to Subtenant a detailed statement with respect to the payment of the Article 4 Subtenant's Proportionate Share of the Article 4 Rent (awhich may be Overlandlord's statement together with all back-up and other documentation which Overlandlord has provided) Commencing on the Commencement Dateand, within twenty (20) days after delivery of such statement, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during Sublease Additional Charges as determined as aforesaid in this Section 4. If an annual Escalation Statement is furnished by Overlandlord to Sublandlord which shows that there has been an overpayment by Subtenant of Article 4 Rent or if Overlandlord shall notify Sublandlord that Sublandlord is entitled to a credit against subsequent Rent due to a refund of Article 4 Rent as to which Subtenant paid Article 4 Rent, and if Overlandlord shall actually give Sublandlord credit therefor under the term Overlease, Sublandlord shall permit Subtenant to credit the amount ox xxxx xxerpayment (with interest thereon at the Interest Rate from the time paid if the amount of the overpayment was more than 5% of the Article 4 Rent in question) or Subtenant's portion of such tax refund credit against the next subsequent Sublease Rent payments under this Sublease. After the termination of this SubleaseSublease and the payment to Sublandlord of the balance, without offsetif any, deduction or abatementof all Sublease Rent due hereunder, which Monthly Base Sublandlord shall promptly pay to Subtenant the amount of any such credit not previously applied by Subtenant. In the event that any Article 4 Rent is due under the Overlease with respect to any period that includes any period that fxxxxxx xxe Sublease Expiration Date, Subtenant's obligations hereunder on account of such Article 4 Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day monthappropriately prorated. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Sublease Agreement (Instinet Group Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant shall covenants and agrees to pay monthly base full service gross Sublandlord as minimum rent (“Monthly Base Minimum Rent”) to Sublandlord during for the term of this SubleaseSubleased Premises without notice or demand, and without offsetset-off, deduction or abatement, which Monthly Base the amount of Twenty Four Dollars and Fifty Cents ($24.50) per annum per rentable square foot of the Subleased Premises. Minimum Rent shall be paid in equal monthly installments, in advance, on the amount Rent Commencement Date and thereafter on the first (1st) day of Sixty-Five Thousand each and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial every successive month at the beginning or the end thereafter of the term Term of this Sublease shall be prorated Sublease. If the Rent Commencement Date does not occur on the basis first day of a 30-calendar month, Subtenant shall pay a prorated monthly installment on the Rent Commencement Date for the period from the Rent Commencement Date to the first day of the next calendar month. (b) In addition to Monthly Base Rent, Subtenant is responsible for Commencing on the payment first anniversary of the following: Rent Commencement Date, and on each annual anniversary thereafter of the Term, Minimum Rent shall be increased by four percent (i) the Parking Charges (as defined in Section 14, below4.0%), (ii) as set forth on EXHIBIT C attached hereto and made a part hereof. If the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e.Rent Commencement Date does not occur on the first day of a calendar month, if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord increase in Minimum Rent shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to effective on the Sublease or the Master Lease as a result of actions or omissions first day of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason first full calendar month after each annual anniversary of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001Rent Commencement Date. (c) Subtenant shall commence the payment of Minimum Rent on May 1, 2006 (“Rent Commencement Date”). Notwithstanding the foregoing, Subtenant shall tender payment of the first full monthly installment of Minimum Rent upon Subtenant’s obligation to pay Additional Rent, execution of the Sublease. (d) Minimum Rent includes all Operating Expenses and Taxes contemplated under the Prime Lease and Sublandlord hereby acknowledges and Subtenant hereby acknowledge and agree agrees that Subtenant shall not be responsible for separate payment any other costs not specifically and expressly provided for herein, including but not limited to costs or charges for Building or common area maintenance, utilities or taxes. However, except as otherwise expressly provided in this Sublease, Subtenant shall pay any other additional costs or expenses incurred under the Prime Lease related to the Sublease Premises or Subtenant’s occupancy thereof (including, without limitation, the cost of all overtime HVAC, energy and other services costs provided to Subtenant and/or the Sublease Premises and not included in Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other or Taxes. Unless such costs and expenses payable hereunder by can be paid directly to Prime Landlord, Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to reimburse Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All for such other rent (including Additional Rent) shall be paid to Sublandlord amounts within ten (10) business days after Sublandlord’s written demand of receipt of an invoice (attaching the charges of the Prime Landlord) from Sublandlord therefor. For the purposes of this Sublease and all of Subtenant’s obligations hereunder, Minimum Rent and any other sums due to Sublandlord from Subtenant under this Sublease shall together constitute “Rent.” (e) All Rent payable pursuant to this Sublease shall be payable to Sublandlord at the address set forth for notices to Sublandlord in Section 17 below or at such other place as Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure from time to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaulttime designate in writing.

Appears in 1 contract

Samples: Sublease (K12 Inc)

Rent. (aSubtenant agrees to pay all rents and other charges owed to Sublandlord pursuant to this Sublease to Sublandlord at its notice address as set forth in Paragraph 3(b) Commencing hereof, Attention: Accounting Department. Subtenant agrees to pay all sales, rental and/or transaction privilege taxes on the Commencement Date, Subtenant shall pay monthly base full service gross rent rents and charges (“Monthly Base Rent”except for Sublandlord's income or similar tax) to Sublandlord during the term now or hereafter imposed by any taxing authority upon Sublandlord's receipt of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, from Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord Any charges due and Subtenant hereby acknowledge and agree that Subtenant shall payable under this Section 7 or as elsewhere provided in this Sublease which are not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid considered additional rent. Notwithstanding anything to the contrary contained herein or in the Master Lease, Sublandlord on a monthly basis shall pay all Operating Expenses (as defined in the Master Lease) with respect to the Premises for, through and are due and payable including calendar year 2001. Commencing January 1, 2002, Subtenant shall pay its Percentage Share, as defined in advance on Section 3 (1), of Building Operating Expenses in excess of the first day actual Building Operating Expenses for calendar year 2001. If Sublandlord provides Subtenant with written notice of an estimate, calculated using commercially reasonable judgment, of such amount for the upcoming calendar year, Subtenant shall pay 1/12th of such amount each month at the same time Subtenant pays its Base Rent. Within ninety (90) days following the expiration of each monthsuch calendar year, Sublandlord shall provide Subtenant with a reconciliation of actual Building Operating Expenses as compared to the estimated Building Operating Expenses and the 2001 base year Building Operating Expenses. All other rent In the event Subtenant made an overpayment, Sublandlord shall promptly refund Subtenant such amount. In the event of an underpayment, Subtenant shall pay such discrepancy by the later of (including Additional i) thirty (30) days after reconciliation thereof, or (ii) the next due date for Base Rent) shall be paid . Sublandlord agrees to Sublandlord deliver any and all estimates and statements regarding Operating Expenses received from Master Landlord within ten two (102) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default's receipt thereof.

Appears in 1 contract

Samples: Sublease (Integrated Information Systems Inc)

Rent. (a) Commencing Tenant shall pay to Landlord (or to Lender, if directed by Landlord), as minimum annual rent for the Leased Premises during the Term, the Basic Rent in arrears, on the Basic Rent Payment Dates, and shall pay the same by ACH or other electronic means in immediately available federal funds or other mutually agreed upon means in immediately available federal funds, by 11:30 a.m., New York time on the date due, to such account in such bank as Landlord (or Lender, if Landlord directs Tenant to pay Basic Rent directly to Lender) shall designate, from time to time. Basic Rent for the period from and including the Commencement Date through and including March 31, 2004 shall be paid on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be Date in the amount equal to 1/31 of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base the monthly Basic Rent for any partial month at the beginning or initial term set forth on Exhibit "B" attached hereto for each day from and including the end of the term of this Sublease Commencement Date through and including March 31, 2004. The first Basic Rent Payment Date shall be prorated on the basis of a April 30-day month, 2004. (b) In addition to Monthly Base Tenant shall pay and discharge before the imposition of any fine, lien, interest or penalty that may be added thereto for late payment thereof, as Additional Rent, Subtenant all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is responsible due for nonpayment or late payment thereof. In the payment event of any failure by Tenant to pay or discharge any of the following: (i) foregoing, Landlord shall have all rights, powers and remedies provided herein, by law or otherwise, in the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant event of nonpayment of Basic Rent. All payments of Additional Rent that are payable to Landlord shall be provided paid by Master Tenant by wire transfer in immediately available federal funds to such account in such bank as Landlord (i.e.or Lender, if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as so directed by Sublandlord within ten (10Landlord) days after submission of a written invoice therefor by Sublandlord shall designate, from time to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001time. (c) Notwithstanding Subtenant’s obligation If any installment of Basic Rent is not paid within five (5) days after the date the same is due, Tenant shall pay to pay Landlord, on demand, as Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Leasea Late Charge. (d) Monthly Base RentLandlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall reflect the transactions represented by this Lease in all applicable books, Additional Rent records and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rentreports (including, without limitation, income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Lease (Performance Food Group Co)

Rent. (a) Commencing A. Unless otherwise specified on Schedule 1, the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”), shall be an amount equal to the Basic Allowance for Housing (“BAH”) at the applicable BAH rate for the service member Tenant’s duty station and military grade [which shall include any Owner provided utilities] OR [minus the utility allowance for the Premises, as defined in the utility allowance addendum][, and minus Rent concessions identified in Box 8 on Schedule 1 if applicable]. If Tenant’s duty station is not at [Insert Name of Installation] (the “Installation”) where the Premises are located, BAH shall be determined in accordance with Service policy applicable to Sublandlord such Tenant2. Rent shall be payable in arrears (i.e., each Rent payment pays Rent for the previous month) in monthly installments. Rent is due on the calendar day identified in Box 7 on Schedule 1. If Xxxxxx’s BAH rate changes at any time during the term of this SubleaseLease, without offsetTenant must notify Owner within thirty (30) calendar days of the change. Notwithstanding the foregoing, deduction or abatementupon an increase in Tenant’s BAH, which Monthly Base Rent shall be increase automatically to the new BAH rate, whether or not Tenant provides notice to Owner of such increase and Tenant waives any notice from Owner of an automatic rent increase. If this Lease begins after the first day of the month, Tenant shall pay the prorated amount based upon 1/30th of the monthly Rent. Tenant shall pay the partial month Rent shown in Box 16 on Schedule 1 on the Payment Date in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day following month. (b1) In addition to Monthly Base RentIf the Premises is occupied by two or more married Tenants, Subtenant is responsible both of whom are active duty service members, the Rent will be the equivalent BAH rate for the payment highest ranking Tenant, at the With Dependents rate, for the Installation as set out in Box 7 on Schedule 1[minus the Utility Allowance for the Premises (if applicable)]. (2) If the Tenant has been designated as a key and essential employee by the Installation, and is single or not accompanied by family members, the Rent will be equal to the Tenant’s housing allowance at the “Without Dependent rate,” [minus the Utility Allowance for the Premises (if applicable)]. (3) If Owner elects to provide Tenant a home in a housing category higher than Tenant’s military pay grade, then the Rent will be based on the applicable BAH rate for the Tenant’s military pay grade. If Tenant elects to reside in a home that is in a housing category higher or lower than Tenant’s military pay grade, then the parties shall execute an addendum that states the basis and amount of the following: Rent. B. Unless otherwise provided for in the Community Specific Addendum, Rent shall be paid through (i) the Parking Charges Unit Diary Entry Electronic Funds Transfer (as defined in Section 14, belowUDEFT) (Marine Corps), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord Military Assistance Company (i.e.MAC) [XXXX] (Navy/Air Force/Army), if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); or (iii) any charges permitted by and pursuant to the Sublease or the Master Lease PeopleSoft (Coast Guard), if applicable (each, as applicable, a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, Additional RentRent Payment Service Option”). All such amounts shall If a Rent Payment Service Option is not applicable, Rent may be payable in full paid to Owner or its designated agent by Subtenant as directed by Sublandlord within ten payroll allotment/deduction (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease“Allotment”). 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs charges owed by Xxxxxx and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when a Rent Payment Service Option or Allotment will be payable by another means reasonably directed by Owner, which at Owner’s option may include personal check, certified check, money order, automated clearing house or through other payment methods (e.g. online/website, smart device application) which alternate means may be changed from time to time with 30 days written notice to Tenant and each of which may be subject to applicable service charges. Owner will apply payments to any previously owed Rental amounts prior to current Rents or as otherwise required by applicable law. C. After the Premises is vacated, any refund due shall bear interest at to Tenant will be made within thirty (30) calendar days of Owner’s or Community Manager’s receipt of the rate Allotment applicable to month of ten percent (10%) per annum until paid. As a cumulative and nonmove-exclusive remedy, Sublandlord may also treat failure out or within the time period required by applicable law. X. Xxxxxx will not be required to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultsecurity deposit .

Appears in 1 contract

Samples: Lease Agreement

Rent. (a) Commencing on During the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the initial term of this SubleaseLease, without offsetLessee hereby covenants and agrees to pay Lessor as Base Rent for the Premises the sum of $138,600.00 per Lease year payable in equal monthly installments of $11,550.00, deduction plus applicable sales or abatementuse tax, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month, without demand, at the offices of Lessor in the city of Lake Mary, Florida, or at such other place and to such other person as Lessor may from time to time designate in writing. All other Base Rent is adjustable as set forth hereafter and in Paragraph 6 of this Lease. In the event of a renewal of this Lease pursuant to Paragraph 3 above, the base yearly rent (including Additional Rent) shall be paid adjusted by any change in the index known as the "United States Bureau of Labor Statistics, Consumer Price Index for all Urban Consumers (all items), United States City Average (1982 equals 100)" (hereinafter referred to Sublandlord within ten (10) days after Sublandlord’s written demand thereforas the "Index"). Sublandlord may impose The Base Rent adjustment for changes in the Index shall be accomplished by multiply the Base Rent last prevailing under this Lease by a late charge fraction, the numerator of five percent (5%) which shall be the Index for the second month preceding the last month of the then current Lease Year. The denominator of the fraction shall be the Index for the last month prior to the last rental adjustment. There shall be no adjustment in rent if the foregoing calculation results in a lower rental payment, it being the intent that rent will adjust upward, but not downward. After making the foregoing calculation, if Base Rent is to be adjusted, the adjusted rental amount shall become due or $100, whichever is greater, for any rent with the first payment not received on the date due. In addition, all amounts not paid by Subtenant when of Base Rent due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day month of a month the Monthly Base Rent payment for such month as a Default by Subtenantnew term, and shall apply for the remainder of that term. If the Consumer Price Index, as now constituted, compiled and published, shall cease to be entitled to any compiled and published during the term hereof, and all remedies for extensions thereof, then the parties shall utilize a comparable index. All rent, additional rent and other sums due to be paid under this Lease are in United States Dollars. All sums due to be paid by the Lessee to Lessor under this Lease are deemed to be "rent", whether or not such Defaultsums are called "rent" in this Lease.

Appears in 1 contract

Samples: Business Lease (Faro Technologies Inc)

Rent. (a) Commencing The Lessee shall pay FBTC Basic Rent and Lessor Basic Rent on the Commencement Acquisition Date, Subtenant . Thereafter the Lessee shall pay monthly base full service gross rent Basic Rent (“Monthly Base Rent”to the extent such Basic Rent (or any component thereof) to Sublandlord is then due and owing) on (x) each Payment Date during the term of this SubleaseTerm, without offset, deduction or abatement, which Monthly Base Rent shall be (y) the date required under Section 24.1(i) in connection with the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end Lessee's exercise of the term of Remarketing Option, and (z) any date on which this Sublease Lease shall terminate. The Lessee and Lessor hereby agree that amounts which would otherwise be prorated payable by Lessee to Lessor hereunder as Lessor Basic Rent are payable as interest on the basis Pledged Securities pursuant to the terms of a 30-day monththe Securities Pledge Agreement and such amounts shall not constitute Rent hereunder. (b) In addition Rent shall be due and payable in lawful money of the United States and, after the occurrence and during the continuance of a Cash Management Event, shall be paid by wire transfer of immediately available funds on the due date therefor from the relevant Sub-Accounts of the Cash Collateral Account, to Monthly Base the extent funds exist therein. With the exception of the first payment on the Acquisition Date of FBTC Basic Rent and Lessor Basic Rent, Subtenant is responsible for which at least two (2) Business Days prior written notice from the payment Lessor shall be provided, the Lessor shall provide written notice of the following: amount of Basic Rent due at least five (5) Business Days prior to each due date therefor; provided, however, that the failure of the Lessor to provide such notice shall not affect Lessee's obligations hereunder or impose liability on Lessor. Lessee shall deposit all security deposits received by it with respect to the Property into the Security Deposit Account and shall cause all relevant checks to be made payable to the name of the Security Deposit Account. (c) So long as a Cash Management Event is not continuing, Rent shall be payable by wire transfer of immediately available funds on the due date therefor as follows: (i) Lessor Basic Rent and FBTC Basic Rent and Supplemental Rent to which the Parking Charges (as defined Lessor is entitled shall be payable to the Lessor at the place of payment designated in Section 14, below), writing by the Lessor and (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are remainder of Basic Rent and Supplemental Rent to be provided by Master Landlord (i.e., if Subtenant requests which the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord Lender is entitled shall be payable to Sublandlord the Lender or Lender's designee or to an account identified by Subtenant); Lender or Lender's designee as set forth in Section 2.12 (iiib) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master LeaseNomura Loan Agreement. (d) Monthly Base Rent, Additional Rent and Neither the Lessee's inability or failure to take possession of all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) or any portion of the amount due Property when delivered by the Lessor, whether or $100not attributable to any act or omission of the Lessee, whichever is greater, or for any rent payment not received on other reason whatsoever, shall delay or otherwise affect the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure Lessee's obligation to pay on Rent for the first day Property in accordance with the terms of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultthis Lease.

Appears in 1 contract

Samples: Lease Agreement (Brookdale Living Communities Inc)

Rent. The Tenant hereby covenants and agrees with the Landlord as follows: 3.1 That the Tenant shall pay to the Landlord during the Term (and any applicable renewal or extension thereof), without prior demand or any deduction or set off whatsoever, the aggregate of the Basic Rent and the Additional Rent. The Tenant acknowledges and agrees that the Landlord shall have the right to require the Tenant to pay to the Landlord the amount of the Sales Taxes on any payments of Rent under this Lease and the Tenant covenants and agrees to pay to the Landlord the amount of the Sales Taxes on any payments of Rent under this Lease at the same time as the amounts, to which the Sales Taxes apply, are payable to the Landlord under this Lease, or upon demand at such other time or times as the Landlord may from time to time determine. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term That payment of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in made to the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month Landlord by the Tenant at the beginning Landlord’s designated office or at such other place and to such other party as the end Landlord may from time to time designate in writing. All payments of the term of this Sublease Rent shall be prorated made in equal instalments on the basis first day of a 30-day montheach month in advance. (b) In addition to Monthly Base RentThe Tenant shall pay the Leased Area Expenses, Subtenant is responsible for the payment Tenant’s Proportionate Share of Common Area Expenses and the Tenant’s Proportionate Share of the following: (i) Municipal Taxes, monthly in accordance with the Parking Charges (as defined in Section 14, below), (ii) reasonable forward estimates thereof made by the Landlord and shall be adjusted at the end of each Lease Year on the basis of the actual expenses incurred Leased Area Expenses and Common Area Expenses experienced during the Lease Year to which the adjustments relate, together with the final allocation of Municipal Taxes and the final calculation of the management and administration fee, determined by Sublandlord the Landlord for such Lease Year. All other Additional Rent shall be paid by the Tenant monthly or as otherwise demanded by the Landlord. (c) The failure of the Tenant to comply in any additional services requested by Subtenant that are way with any of the provisions of this Article 3.2 shall be deemed to be provided by Master Landlord (i.e.an Event of Default under this Lease and, if Subtenant requests following expiry of the use of after-hours HVACapplicable cure period in Article 9.4, such after-hours HVAC charges and assessments which are charged by Master shall entitle the Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) exercise any charges permitted by and pursuant all remedies available to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations Landlord under this Sublease (collectivelyLease. 3.3 That if, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days at any time before or after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation the Term, the Landlord shall suffer or incur any damage, loss or expense for which the Tenant is liable hereunder by reason of any failure of the Tenant to pay Additional Rentobserve or comply with any of the covenants or agreements of the Tenant herein contained, Sublandlord or if the Landlord shall make any payment for which the Tenant is liable hereunder, then in every such case the amount of such damage, loss, expense or payment shall be payable by the Tenant to the Landlord on demand and Subtenant the Landlord shall have the right at its option to add the cost or amount of any such damage, loss, expense or payment to the Rent hereby acknowledge reserved and agree that Subtenant any such amount shall not thereupon immediately be responsible due and payable as Rent and recoverable in the manner provided by Applicable Laws for separate payment the recovery of Operating Expenses under the Master Leaserent in arrears. (da) Monthly Base Rent, Additional Rent The Tenant covenants and agrees that the failure by the Tenant to pay to the Landlord the amount of any Sales Taxes owing by the Tenant to the Landlord when due hereunder shall constitute an Event of Default by the Tenant under this Lease and will entitle the Landlord to exercise any and all other costs rights and expenses payable hereunder by Subtenant remedies available to the Landlord for the recovery of Rent in arrears. The Tenant further covenants and agrees that if any of the Sales Taxes are amended in such a manner that it imposes any additional financial obligations on the Landlord, the Tenant shall be referred forthwith pay to collectively and reimburse the Landlord for all such additional financial obligations and the Tenant agrees to execute such agreements and documents as “rent.” All Monthly Base Rent payments shall the Landlord may reasonably require in order to ensure that such additional financial obligations will be paid by the Tenant. (b) Tenant may from time to Sublandlord on a monthly basis time be provided with or request Additional Services from Landlord and are due and payable in advance on Tenant shall pay to Landlord the first day of each month. All other rent (including Landlord’s charge for such Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of Services plus ten percent (10%) per annum until paidof such charge to cover Landlord’s cost of administration, payable forthwith upon delivery of Landlord’s invoice therefor. (c) If Landlord shall from time to time reasonably determine that the use of any utility or service in the Premises is disproportionate to the use of other tenants operating during Standard Business Hours, then Landlord may separately charge Tenant as an Additional Service for the excess costs attributable to such disproportionate use calculated on a reasonable basis. (d) Landlord may install and maintain, at Tenant’s expense, metering devices for measuring the use of any utility or service in the Premises. As a cumulative Tenant shall pay Landlord within thirty (30) days of receipt of any invoice for the cost of installation and non-exclusive remedy, Sublandlord may also treat failure to pay maintenance of such device plus ten percent (10%) of such cost on the first day account of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultLandlord’s overhead.

Appears in 1 contract

Samples: Lease (Zymeworks Inc.)

Rent. (a) Commencing on the Commencement Date, Subtenant 4.01 Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this SubleaseLandlord, without offsetany setoff or deduction, deduction or abatementunless expressly set forth in this Lease, which Monthly all Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Additional Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible due for the payment of the following: Term (i) the Parking Charges (collectively referred to as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten “Additional Rent” means all sums (10exclusive of Base Rent) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation that Tenant is required to pay Additional Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Notwithstanding anything herein to the contrary, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant the taxes described in the immediately preceding sentence shall not be responsible for separate payment included in the “Taxes” defined in Exhibit B attached hereto. Base Rent and recurring monthly charges of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each monthcalendar month without notice or demand, provided that the installment of Base Rent for the first full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other rent (including Additional Rent) items of Rent shall be paid to Sublandlord within ten (10) due and payable by Tenant on or before 30 days after Sublandlord’s written demand thereforbilling by Landlord. Sublandlord may impose a late charge of five percent (5%) of 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 Rent when due hereunder, Tenant shall pay Landlord an administration fee in the amount due or of $100250.00, whichever is greater, provided that Tenant shall be entitled to a grace period of up to 5 days for any rent payment not received on the date duefirst 2 late payments of Rent in a calendar year. In addition, all amounts not paid by Subtenant when past due Rent shall bear 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 rate correct amount of ten percent (10%) per annum until paidRent 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. As Rent for any partial month during the Term shall be prorated. No endorsement or statement on a cumulative check or letter accompanying payment shall be considered an accord and non-exclusive remedy, Sublandlord may also treat failure satisfaction. Tenant’s covenant to pay on the first day Rent is independent of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultevery other covenant in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Mobile Storage Group Inc)

Rent. (a) Commencing TherentpayablebytheLesseetotheLessorfortheSchedulePropertyshallbe Rs. /-(Rupees )onlyperannumperAcre.Theportionofthe land less than one Acre shall be calculated in terms of Square meter and the rent payable for the same shall be at Rs./- per Square meter or part thereof, per annum. OR The rent payable by the Lessee to the Lessor after Commercial Operation of the power plant shall be Rs.per unit of total power generated from the power plant installed on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during land of Lessor. Till the term start of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end commercial operation of the term of this Sublease shall be prorated on plant, the basis of a 30-day monthrent shallbeRs. /-(Rupees ) only per annum per Acre. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord The annual rent shall be payable to Sublandlord paid in twelve equal instalments and each instalment tobe paidby5thdayofeverymonth,bycreditingthesametotheLessor‟sBankAccount the details of which may be furnished by Subtenant); (iii) any charges permitted by and pursuant the Lessor from time totime. OR In case of lease rent on the basis of Rs.per unit, the monthly lease rent would be calculated on the basis of monthly electricity injected in to the Sublease or grid from the Master Lease as a result of actions or omissions of power plant installed on the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001land ofLessor. (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible Lessor may opt for separate payment of Operating Expenses under lease rent directly from the Master LeaseDistribution company, whichwillsignPowerPurchaseAgreementwithLesseefortheabove- mentioned Power Plant to be installed by Lessee. In such a case the Distribution company will pay the lease rent to Lessor on monthly basis from the proceeds payable to the Lessee in lieu of Power supplied by Lessee. In order to give this effectasuitableprovisionwillbemadeinthePPAtobesignedbetweenLesseeand the DistributionCompany. (d) Monthly Base Rent, Additional Rent [on mutual agreement between Lessor and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments Lessee] The rent hereby reserved shall be paid to Sublandlord on a monthly basis and are due and payable in advance by enhancing the same at the endofevery year(s), at % on the first day of each month. All other rent herebyagreed. (including Additional Rente) IftheLesseedelaysthepaymentofrentbyduedateofeverymonth,foranyreason, the same shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of by adding the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on % for the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultsaid delayed period.

Appears in 1 contract

Samples: Power Purchase Agreement

Rent. During the Term, Lessee shall pay to Lessor in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without offset or deduction, the amounts determined by this Section 3.1 as monthly "Minimum Rent." Payments of monthly Minimum Rent shall be paid in advance on or before the first (1st) day of each calendar month and shall be made either (i) via wire transfer to an account as Lessor may from time to time designate in writing or (ii) via Lessee's check therefor made payable to Lessor (or such other Person as Lessor may direct from time to time in writing) and delivered to Lessor's address for notices as provided in Article XXXIV (or such other address as Lessor may designate from time to time in writing). (a) Commencing on the Commencement DateDate and continuing through the expiration of the first (1st) Lease Year of the Fixed Term, Subtenant Lessee shall pay to Lessor as monthly base full service gross rent (“Monthly Base "Minimum Rent”) " for each Facility the amounts allocated to Sublandlord during the term and set forth opposite such Facility on Exhibit B attached hereto and incorporated herein by this reference. The first installment of this Sublease, without offset, deduction or abatement, which Monthly Base monthly Minimum Rent for each Facility shall be in paid on or before the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day monthCommencement Date. (b) In addition to Monthly Base The monthly "Minimum Rent" payable during the first (1/st/) Lease Year of each Extended Term, Subtenant is responsible if any, for each Facility shall be the payment greater of the following: (i) the Parking Charges (as defined in Section 14, below), then current monthly Fair Market Value Midpoint Rental for such Facility and (ii) the actual expenses incurred by Sublandlord monthly Allocated Minimum Rent payable for such Facility for the last Lease Year of the immediately preceding Term. Following the commencement of each Extended Term, the parties shall execute an amendment to this Lease confirming the monthly Allocated Minimum Rent payable for each Facility during the first (1/st/) Lease Year of such Extended Term and replacing the schedule set forth on Exhibit B with a new schedule Exhibit B. Notwithstanding the foregoing, the failure of Lessor to prepare or the failure of Lessee to so execute and deliver any additional services requested by Subtenant that are such amendment shall not affect Lessor's determination of the matters to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Leaseconfirmed thereby. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Master Lease (Kindred Healthcare Inc)

Rent. (a) Commencing on On the Commencement Datedate that Lessee executes this Lease, Subtenant Lessee shall pay monthly base full service gross rent (“Monthly Base Rent”) deliver to Sublandlord during Lessor the term original executed Lease, the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Lessee under Paragraph 12 of this SubleaseLease. Lessee agrees to pay Lessor, without prior notice or demand, or abatement, offset, deduction or abatementclaim, which Monthly except as otherwise provided herein, the Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated described on the basis of a 30-day month. (b) In addition to Monthly Base RentPage 1, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance at Lessor's address shown on Page 1 on the first day of each month throughout the term of the Lease. In addition to the Base Rent set forth on Page 1, Lessee shall pay Lessor in advance and on the first (1st) day of each month throughout the term of this Lease (including any extensions of such term), as additional rent Lessee's share, as set forth on Page 1, of Operating Expenses, Tax Expenses, Common Area Utility Costs, administrative expenses and Utility Expenses, as specified in Paragraphs 6.A., 6.B., 6.C. and 7 of this Lease, respectively. Additionally, Lessee shall pay to Lessor as additional rent hereunder, within thirty (30) days after Lessor's written demand therefore (which demand may be made by delivery of a xxxx or statement to Lessee), any and all out-of-pocket costs and expenses incurred by Lessor to enforce the provisions of this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Premises by Lessee, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, reasonable attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of the Base Rent, Lessee's share of Operating Expenses, Tax Expenses, Insurance Expenses, Administrative Expenses and Utility Expenses, Enforcement Expenses and all other amounts described herein as "additional rent.". If Lessor permits Lessee to occupy the Premises without requiring Lessee to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Lessee shall otherwise perform all other obligations of Lessee hereunder, including, but not limited to paying to Lessor any and all amounts considered additional rent, such as Lessee's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, Utility Expenses, and administrative expenses. If, at any time, Lessee is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Lessor of Lessee's requirement to pay rental payments shall be null and void and Lessee shall immediately pay to Lessor all rental payments waived by Lessor. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon the actual days in the month. All other rent (including Additional Rent) The prorated Rent shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative Commencement Date and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a the calendar month in which the Monthly Base Rent payment for such month date of termination occurs, as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultthe case may be.

Appears in 1 contract

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

Rent. (a) Commencing Subtenant shall pay to Sublandlord during the Sublease Term fixed rent (“Sublease Base Rent”) for the Subleased Premises at the rate of $541,280 per annum ($45,106.67 per month) from the Sublease Commencement Date through and including the Sublease Expiration Date. (b) The first monthly installment of Sublease Base Rent in the amount of $45,106.67 shall be due and payable by Subtenant upon execution of this Sublease. If the Sublease Commencement Date occurs on the first day of a calendar month, then such payment shall be credited by Sublandlord to the first monthly installment of Sublease Base Rent payable under this Sublease. If the Sublease Commencement Date is not the first day of a calendar month, then on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Sublease Base Rent for any partial month at the beginning or period from the end Sublease Commencement Date through the last day of the term month in which the Sublease Commencement Date occurs, and the payment made by Subtenant upon the execution and of this Sublease shall be prorated on credited against the basis second monthly installment of a 30-day monthSublease Base Rent payable under this Sublease. (bc) In addition With respect to Monthly Base Rentthe Subleased Premises, during the Sublease Term, Subtenant is responsible shall pay to Sublandlord as Sublease Additional Rent (as hereinafter defined) any items specified in the Lease to be additional rent and any other sums of money, costs, charges, adjustments, increases, rent or additional rent payable by Sublandlord to Landlord under the Lease attributable to the Subleased Premises or the use and occupancy thereof by Subtenant, provided, that, for the payment purposes of calculating the amount of Sublease Additional Rent payable by Subtenant to Sublandlord in respect of Taxes and Operating Expenses, (1) “Tenant’s Proportionate Share” shall be deemed to be 2.37493% (subject to adjustment in the event of any reduction in the size of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease Building or the Master Lease Subleased Premises as a result of actions a casualty or omissions of the Subtenantcondemnation); and (iv2) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Sublease (Cross Country Healthcare Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant 4.1 The Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term Landlord at die address set forth in Paragraph 50.1, in lawful money of this SubleaseCanada and without any deduction, without offset, deduction set off or abatement, which Monthly Base Rent shall be throughout the Term an annual minimum rent (the "RENT"), in advance, on the amount first day of Sixty-Five Thousand and No/100 Dollars (each month throughout the Term as follows: $65,000.00). Monthly Base Rent for any partial 103,575.00 per annum, payable in equal consecutive monthly instalments of $8,631.25 in advance, on the first day of each month at the beginning or the end during each year of the term 5 years of this Sublease shall be prorated the Term. The aforesaid Rent is calculated on the basis of a 30-day monthnet rent of: $12.50 per square fool of Gross Leasable Area of the Leased Premises per annum for each of the 5 years of the Term. Rent and Additional Rent may be adjusted from time to time by the Landlord, if necessary, to conform with changes in the Gross Leasable Area of the Leased Premises. Subject to Section 2.2, a certificate of the Landlord's Architect to that effect shall be conclusive, SAVE FOR MANIFEST ERROR, SHALL BE ADDRESSED TO BOTH LANDLORD AND TENANT. (b) In 4.2 The Tenant covenants with the Landlord to pay Rent and Additional Rent and such oilier amounts for which the Landlord may be entitled to demand payment from the Tenant pursuant to the provisions of this Lease without any deduction, setoff or abatement. Rent and Additional Rent arc reserved by the Landlord and payable by the Tenant in consideration for the demise and lease of the Leased Premises hereunder. The Landlord shall, in addition to Monthly Base Rentany other right or remedy available to the Landlord, Subtenant is responsible for have the same rights and remedies in the event of default by the Tenant in the payment of Additional Rent as the following: (i) Landlord would have in the Parking Charges (as defined event of default by the Tenant in Section 14, below), (ii) the actual expenses incurred payment of Rent. All Additional Rent payable by Sublandlord for any additional services requested by Subtenant that are the Tenant to be provided by Master the Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to this Lease shall, unless otherwise provided herein, become due and payable with the Sublease or next monthly instalment of Rent. Where the Master Lease as a result calculation of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days Rent is not made until after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s Lease, the obligation of the Tenant to pay such Additional Rent, Sublandlord Rent shall survive such expiration or earlier termination and Subtenant hereby acknowledge such amount shall be payable by the Tenant after final determination and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under upon demand by the Master LeaseLandlord. 4.3 Landlord acknowledges that the TENANT has provided to Royal LePage Commercial Inc. (dthe "LEASING AGENT"), in trust for the Landlord a deposit equal to the sum of thirty-eight thousand two hundred and seventy one dollars and sixty-five cents ($38,271.65) Monthly Base Rent, (the "DEPOSIT") to be applied to the first and last months' Rent and Additional Rent payable by the Tenant hereunder. Provided that if, at any time during the term, Rent is overdue and all other costs and expenses payable hereunder by Subtenant shall be referred unpaid, or if the Tenant fails to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) keep or perform any of the amount due or $100terms, whichever is greatercovenants and conditions of this Lease to be kept, for any rent payment not received on observed and performed by the date due. In additionTenant, all amounts not paid by Subtenant when due shall bear interest then, the Landlord, at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedyits option, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenantmay, and shall be entitled in addition to any and all other rights and remedies provided for in this Lease or by law, appropriate and apply the balance of the Deposit (the "BALANCE") or so much thereof as if necessary to compensate the Landlord for loss or damage sustained or suffered by the Landlord due to such Defaultbreach on the part of the Tenant. If the Balance or any portion thereof is appropriated and applied by the Landlord for the payment of overdue Rent or Additional Rent, then the Tenant shall, forthwith after demand by the Landlord, remit to the Landlord a sufficient amount in cash to restore the Balance to the original sum deposited and the Tenant's failure to do so forthwith after receipt of such demand constitutes a breach of this Lease. 4.4 The Landlord shall deliver the Balance to any purchaser of the Landlord's interest in the Leased Premises and the Development if such interest is sold and thereafter the Landlord shall be discharged from any further liability with respect to the Deposit so long as the purchaser has assumed the Landlord's obligations hereunder.

Appears in 1 contract

Samples: Net Office Lease (Viventia Biotech Inc.)

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“to Sublandlord the Monthly Base Rent”) to Sublandlord during Rent (pro rated in the term case of this Subleaseany partial calendar month at the beginning or end of the Term, based upon the actual number of days in the month), without deduction, offset, deduction notice, or abatementdemand, which at Sublandlord's Address, or at such other place as Sublandlord shall designate from time to time by notice to Subtenant. Monthly Base Rent shall be paid for each calendar month occurring during the term in advance two (2) business days prior to the amount first day of Sixty-Five Thousand and No/100 Dollars ($65,000.00). the calendar month to which such Monthly Base Rent is attributable, provided that the installment of Monthly Base Rent for any partial the second full calendar month at of the beginning Sublease Term shall be payable upon the execution of this Sublease by Subtenant. Notwithstanding the foregoing, the Monthly Base Rent for April, 2002, February, 2003, March, 2003 and March, 2004 shall be abated. In addition, should more than 20 days elapse between Subtenant's application for a building permit for Subtenant's initial alterations and improvements and the date of issuance of the permit, and should such delay result in the Subleased Premises not being ready for occupancy by April 1, 2002 because of such delay in issuing the building permit, then Subtenant shall be entitled to one day without Monthly Base Rent starting on April 1, 2002 for every two days of such delay up to a maximum of seven days of free rent. All charges, costs, expenses and sums required to be paid or borne by Subtenant under this Sublease in addition to Base Rent shall be deemed "Additional Rent," and Base Rent and Additional Rent shall hereinafter collectively be referred to as "Rent." Subtenant's covenant to pay Rent shall be independent of every other covenant in this Sublease. The Monthly Base Rent for the end fourth year of the term of this Sublease commencing on April 1, 2005 shall be prorated on adjusted to the basis of a 30-day month. (b) In addition to Monthly then Fair Market Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (Rental as defined in Section 1438(a) of the Master Lease; provided, below)however, (ii) if Fair Market Base Rental is $2.25 per RSF or less, the actual expenses incurred by Sublandlord Monthly Base Rent shall remain at $2.25 per RSF for any additional services requested by Subtenant that are to be provided by Master Landlord the fourth year of the Term (i.e., if Subtenant requests the use twelve month period commencing on April 1, 2005). Approximately 30 days prior to the commencement of after-hours HVACsuch lease year, Landlord and Tenant shall endeavor to agree upon the Fair Market Base Rental. If they are unable to do so within such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord 30 days period, the Fair Market Base Rental shall be payable determined by three commercial real estate brokers - one selected by Sublandlord, one by Subtenant and one by the two brokers so selected. The Fair Market Base Rental shall be the average of the two closest amounts determined by the brokers. The brokers shall make their determination within 30 days of the selection of the third broker and any rent adjustment shall be retroactive to Sublandlord by Subtenant); April 1, 2005. Each party shall pay the fee of the broker which it selected and one half of the fee of the third. On April 1, 2006 and April 1, 2007, the Monthly Base Rent for the succeeding year shall be increased (iiibut not decreased) any charges permitted by and pursuant in accordance with the change in the cost of living according to the Sublease or provision of Section 35 of the Master Lease as a result with appropriate adjustment to the terms of actions or omissions of that section to correspond to the Subtenant; dates and (iv) any actual and direct expenses time periods set forth in this paragraph. At no time shall the Monthly Base Rent exceed that charged to Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

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

Rent. (a) Commencing on From the Sublease Term Commencement Date through the Sublease Termination Date, Subtenant shall pay monthly to Sublandlord base full service gross rent (“Monthly "Sublease Base Rent") to Sublandlord during for the term Sublease Premises at a rental rate of this Sublease$26.00 per rentable square foot payable in equal monthly installments. The parties acknowledge and agree that Landlord shall, without offsetwithin six (6) months after the Sublease Term Commencement Date, deduction or abatementhave its architect remeasure the Sublease Premises based upon the BOMA method for measuring floor area in an office building for a single tenant on such floor, which Monthly but in no event shall such measured floor area be less than 9,318 rentable square feet. The parties further acknowledge and agree that the calculation of Sublease Base Rent shall be based on the number of rentable square feet that are included in the amount Sublease Premises as the same may be remeasured from time to time and that the Sublease Base Rent shall be adjusted in accordance with the provisions of Sixty-Five Thousand Paragraph 6 of the Second Amendment to Lease. Sublease Base Rent shall be payable in advance on the first (1st) day of each and No/100 Dollars every calendar month of the Sublease Term. If the Sublease Term commences or ends other than on the first ($65,000.00). Monthly 1st) day of a month, then Sublease Base Rent for any partial such month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day monthfor such fractional period and paid promptly to Sublandlord. (b) In addition to Monthly the Sublease Base RentRent to be paid by Subtenant, Subtenant is responsible shall pay to Sublandlord, during the Sublease Term hereof, as additional rent for the payment of Sublease Premises (the following: "Additional Rent"), (i) the Parking Charges Subtenant's Proportionate Share (as defined in below) of all other payments required to be paid by Sublandlord under the Main Lease (except under Section 14, below4.1(b)) when and as due thereunder, (ii) the actual expenses incurred by Sublandlord for entirety of any additional services requested by Subtenant penalties that are may accrue thereon in the event of Subtenant's failure to be provided by Master Landlord (i.e.pay such amounts, if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by all damages, costs and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses which Sublandlord incurs may incur by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full any failure by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive comply with the expiration or earlier termination terms of this Sublease. 4510092v4 / 101022.0001As used herein, "Subtenant's Proportionate Share" shall be the fraction comprised of the rentable square footage of the Sublease Premises, with the calculation based on the number of rentable square feet that are included in the Sublease Premises as the same may be remeasured from time to time, as the numerator and the total rentable square footage of the Main Premises at the time in question as the denominator. (c) Notwithstanding Subtenant’s obligation Additional Rent shall be adjusted as of the Sublease Term Commencement Date, each January 1 thereafter during the term, and the Sublease Termination Date. When the amount of Additional Rent due hereunder is not known prior to pay Additional Rentthe Sublease Termination Date, a final adjustment shall be made between Subtenant and Sublandlord and Subtenant hereby acknowledge and agree promptly after such amount is known, notwithstanding that Subtenant shall not be responsible for separate payment the term of Operating Expenses under the Master Leasethis Sublease may have expired or have been earlier terminated. (d) Monthly Base RentExcept as otherwise expressly provided in Subparagraph 4(b)(i) hereof, all Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent within five (including Additional Rent5) shall be paid to Sublandlord within ten (10) business days after demand therefor by Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by the event that Subtenant shall fail to pay Additional Rent when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedypayable, Sublandlord may also treat shall have all the rights and remedies with respect to such failure to pay on as Sublandlord has for the first day nonpayment of a month the Monthly Sublease Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultRent.

Appears in 1 contract

Samples: Sublease Agreement (Curis Inc)

Rent. (a) Commencing on During the Commencement DateLease Term, Subtenant Tenants, jointly and severally, shall pay a total rent to Landlord in the amount of $ . Said total rent shall be paid by Tenant to Landlord in equal monthly base full service gross rent installments of $ (“Monthly Base Rent”) to Sublandlord Landlord, at Landlord’s address set forth above, in advance and shall be received in hand or postmarked on or before the first (1st) day of each calendar month during the term Lease Term and without demand, delay or offset for any reason and without a grace period. If the Rent is not received in hand or postmarked on or before the 1st day of each month, the Tenant is in default of this Subleasesaid lease. Time is of the essence for each and every monthly Rent payment and for all other monies due and owing under this Lease, without offsetincluding security deposit, deduction damages, invoices or abatementother costs or expenses chargeable by law by Landlord to Tenant. Tenants, which Monthly shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Landlord on or before the first (1st) day of each calendar month, and an ongoing $5 per day late fee after the 5th day that Rent has not been received in hand by Landlord. It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall pay to Landlord a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all future payments to Landlord in the form of cash, money order, or cashiers check only. Base Rent shall be and Pet Rent, if any, are collectively referred to herein as “Rent”. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant on a monthly basis before applying said amounts to the Rent due. Tenant may elect to receive a discount of the last month’s Rent, at Tenant's option, as provided in this Section. Tenant will receive a discount on their last month’s rent in the amount of Sixty-Five Thousand $50 provided that the discounted amount of Tenant’s last month’s Rent is paid and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred received by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission at time of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Leasemove in. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Lease Agreement

Rent. (a) Commencing A. Unless otherwise specified on Schedule 1, the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”), shall be an amount equal to the Basic Allowance for Housing (“BAH”) at the applicable BAH rate for the service member Tenant’s duty station and military grade [which shall include any Owner provided utilities] OR [minus the utility allowance for the Premises, as defined in the utility allowance addendum] [and minus Rent concessions identified in Box 8 on Schedule 1 if applicable]. If Tenant’s duty station is not at [Insert Name of Installation] (the “Installation”) where the Premises are located, BAH shall be determined in accordance with Service policy applicable to Sublandlord such Tenant2. Rent shall be payable in arrears (i.e., each Rent payment pays Rent for the previous month) in monthly installments. Rent is due on the calendar day identified in Box 7 on Schedule 1. If Xxxxxx’s BAH rate changes at any time during the term of this SubleaseLease, without offsetTenant must notify Owner within thirty (30) calendar days of the change. Notwithstanding the foregoing, deduction or abatementupon an increase in Tenant’s BAH, which Monthly Base Rent shall be increase automatically to the new BAH rate, whether or not Tenant provides notice to Owner of such increase and Tenant waives any notice from Owner of an automatic rent increase. If this Lease begins after the first day of the month, Tenant shall pay the prorated amount based upon 1/30th of the monthly Rent. Tenant shall pay the partial month Rent shown in Box 16 on Schedule 1 on the Payment Date in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day following month. (b1) In addition to Monthly Base RentIf the Premises is occupied by two or more married Tenants, Subtenant is responsible both of whom are active duty service members, the Rent will be the equivalent BAH rate for the payment highest ranking Tenant, at the With Dependents rate, for the Installation as set out in Box 7 on Schedule 1[minus the Utility Allowance for the Premises (if applicable)]. (2) If the Tenant has been designated as a key and essential employee by the Installation, and is single or not accompanied by family members, the Rent will be equal to the Tenant’s housing allowance at the “Without Dependent rate,” [minus the Utility Allowance for the Premises (if applicable)]. (3) If Owner elects to provide Tenant a home in a housing category higher than Tenant’s military pay grade, then the Rent will be based on the applicable BAH rate for the Tenant’s military pay grade. If Tenant elects to reside in a home that is in a housing category higher or lower than Tenant’s military pay grade, then the parties shall execute an addendum that states the basis and amount of the following: Rent. B. Unless otherwise provided for in the Community Specific Addendum, Rent shall be paid through (i) the Parking Charges Unit Diary Entry Electronic Funds Transfer (as defined in Section 14, belowUDEFT) (Marine Corps), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord Military Assistance Company (i.e.MAC) [XXXX] (Navy/Air Force/Army), if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); or (iii) any charges permitted by and pursuant to the Sublease or the Master Lease PeopleSoft (Coast Guard), if applicable (each, as applicable, a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, Additional RentRent Payment Service Option”). All such amounts shall If a Rent Payment Service Option is not applicable, Rent may be payable in full paid to Owner or its designated agent by Subtenant as directed by Sublandlord within ten payroll allotment/deduction (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease“Allotment”). 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs charges owed by Xxxxxx and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when a Rent Payment Service Option or Allotment will be payable by another means reasonably directed by Owner, which at Owner’s option may include personal check, certified check, money order, automated clearing house or through other payment methods (e.g. online/website, smart device application) which alternate means may be changed from time to time with 30 days written notice to Tenant and each of which may be subject to applicable service charges. Owner will apply payments to any previously owed Rental amounts prior to current Rents or as otherwise required by applicable law. C. After the Premises is vacated, any refund due shall bear interest at to Tenant will be made within thirty (30) calendar days of Owner’s or Community Manager’s receipt of the rate Allotment applicable to month of ten percent (10%) per annum until paid. As a cumulative and nonmove-exclusive remedy, Sublandlord out or within the time period required by applicable law as noted in the Community Specific Addendum. D. Tenant may also treat failure be required to pay a security deposit, if any, as more particularly set forth on Schedule 1. Owner shall hold such security deposit in accordance with the first day of a month terms in the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultCommunity Specific Addendum.

Appears in 1 contract

Samples: Lease Agreement

Rent. 4.1 The rent payable by Subtenant for the Sublease Premises shall consist of the Base Rent under Section 4.2, the Pass Through Costs under Section 4.3 and the Other Charges under Section 4.4. Base Rent, Pass Through Costs, Other Charges and any other sums payable by Subtenant under this Sublease are collectively referred to as “Rent.” Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Subtenant shall make all payments due to Sublandlord pursuant to this Sublease at Sublandlord’s address set forth in Section 1.12 above, unless otherwise modified in writing by Sublandlord from time to time. Sublandlord shall apply $75,000 of the Prepaid Rent to Subtenant’s obligation to pay Rent in accordance with Section 1.15 of this Sublease. 4.2 Beginning on the Rent Commencement Date and continuing thereafter on the first day of each calendar month during the Sublease Term, Subtenant shall pay to Sublandlord in advance, and without notice, demand, deduction or offset (a) except as otherwise expressly provided herein), the monthly Base Rent. If the Rent Commencement Date is a day other than the first day of a calendar month, the Base Rent for the month in which the Rent Commencement Date occurs will be prorated, based on the actual number of days in the month after the Rent Commencement Date. Similarly, Base Rent for the month in which the Expiration Date occurs shall be prorated, base on the actual number of days in the month prior to the Expiration Date. 4.3 Commencing on the Commencement Date, and continuing throughout the Sublease Term, Subtenant also shall pay monthly base full service gross rent an amount equal to Subtenant’s Share of all amounts payable by Sublandlord under Section 4 (“Monthly Base RentTaxes”), Section 5 (“Operating Expenses”), and Section 6 (“Utilities”) under the Master Lease (collectively, “Pass Through Costs”). To the extent Pass Through Costs are payable on a monthly estimated basis, the Additional Rent with respect thereto shall be paid as and when Base Rent is due in an amount based on Master Landlord’s or Sublandlord’s estimates; and upon any reconciliation of estimated and actual Pass Through Costs, the corresponding Pass Through Costs shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement. For purposes of calculating Pass Through Costs, Sublandlord during shall be entitled to rely conclusively on Master Landlord’s determination of estimated and actual Pass Through Costs and shall be under no obligation to audit or verify the term same except as provided in Section 4.3.1 and Section 4.3.2 of this Sublease. 4.3.1 Notwithstanding anything to the contrary contained in this Sublease, without offsetSublandlord, deduction or abatementat Subtenant’s reasonable request, which Monthly Base Rent shall be in exercise its rights under the amount of Sixty-Five Thousand Master Lease, to audit and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at verify the beginning or the end determination of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base RentPass Through Costs, Subtenant is responsible for the payment of the following: provided (i) Subtenant shall not issue more than one such request per calendar year of the Parking Charges (as defined in Section 14, below), Sublease term; (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord Subtenant’s request shall be payable made not more than sixty (60) calendar days following delivery to Sublandlord by Subtenant)Subtenant of any reconciliation statement; (iii) any charges permitted by and pursuant Subtenant shall not be in default at the time it issues such request to Sublandlord or at the Sublease or the Master Lease as a result of actions or omissions of the Subtenanttime Sublandlord commences such audit; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment pay all out of Operating Expenses under the Master Lease. (d) Monthly Base Rentpocket costs to third parties actually incurred by Sublandlord, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on plus a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) administrative fee. Notwithstanding anything to the contrary contained in this Sublease, to the extent that taxes and/or assessments are increased as a result of Subtenant’s Alterations (as defined in Section 10 below) or Sublandlord’s alterations to the Retained Space, Subtenant or Sublandlord, respectively, shall bear and pay 100% of such increase. 4.3.2 In the event Master Landlord’s annual statement of Pass Through Costs due by Sublandlord to Master Landlord under the Master Lease (including any later adjustment as the result of an audit of such costs) for any period after the Commencement Date discloses that Sublandlord has overpaid or underpaid Pass Through Costs for such period (and hence, Subtenant has materially overpaid or underpaid Pass Through Costs under this Sublease), then upon Subtenant’s written request Sublandlord shall contest, at Subtenant’s expense, the determination of any Pass Through Costs, in accordance with Sublandlord’s rights under the Master Lease, and such overpayment or underpayment shall be reconciled between Sublandlord and Subtenant hereunder in the same manner as between Master Landlord and Sublandlord under the Master Lease. Sublandlord shall deliver to Subtenant, as received, copies of all statements and estimates with respect to Pass Through Costs received from Master Landlord. 4.4 Throughout the Sublease Term, Subtenant also shall pay, within five (5) business days after written notice, any other fees, charges or other sums payable with respect to the Sublease Premises (collectively, “Other Charges”) for: (a) excess or after-hours utility consumption within the Sublease Premises; (b) excess, after-hours or supplemental heating, ventilating or air conditioning service supplied to the Sublease Premises; (c) services or benefits supplied to the Sublease Premises at Subtenant’s request (or with Subtenant’s acquiescence) for which Master Landlord reserves any right to impose a fee or charge separate from the Pass Through Costs; (d) to reimburse Master Landlord or Sublandlord for taxes on Subtenant’s Furniture and Equipment personal property, equipment and fixtures located in or about the Sublease Premises during the Sublease Term; (e) to pay for any damage to the Building resulting from the act or omission of Subtenant or Subtenant’s agents, employees or invitees, subject to the subrogation provisions of Section 8.2 herein; (f) damages recoverable due to a default under the Master Lease which are the result of any default or failure of performance by Subtenant under this Sublease; and (g) any other costs or expenses due from Subtenant to Sublandlord under this Sublease. 4.4.1 To the extent Subtenant exclusively uses a service or system such as after- hours HVAC, Subtenant shall pay the entire cost as a part of Other Charges. To the extent Sublandlord exclusively uses a service or system in the Retained Space such as after-hours HVAC, Sublandlord shall be responsible for the entire cost of such service or system without contribution by Subtenant. If both Sublandlord and Subtenant jointly utilize any service or system of the Building which results in Other Charges under Section 4.4(a) or (b), Subtenant and Sublandlord agree to equitably apportion such Other Charges between Sublandlord and Subtenant based upon Sublandlord’s good faith estimate of a fair allocation, which estimate shall be subject to review by Subtenant in the manner provided in Section 5.4 (b) of the Master Lease. 4.5 All Rent shall be paid to Sublandlord or to such other person or such other place as Sublandlord may from time to time designate in writing. If Subtenant fails to pay any Rent on or before the fifth (5th) day after such Rent is due, the unpaid amounts shall bear interest for the benefit of Sublandlord at the lesser of 12% per annum until paidor the maximum rate permitted by law ( “Default Rate”), from the date such Rent is due to the date of payment. As In addition to such interest, Tenant shall pay to Landlord a cumulative late charge in an amount equal to ten percent (10%) of any installment of Rent due Sublandlord if Rent is not paid by the fifth (5th) day after such Rent is due and non-exclusive remedymore than one default in the payment of Rent has occurred in the preceding twelve (12) months. Subtenant acknowledges that late payment by Subtenant to Sublandlord of Rent will cause Sublandlord to incur costs not contemplated by this Sublease. Sublandlord further acknowledges that it is extremely difficult and impractical to fix the exact amount of such costs sand that the late charge set forth in this Section 4.5 represents a fair and reasonable estimate thereof. Sublandlord’s acceptance of any late charge shall not constitute a waiver of Subtenant’s default with respect to overdue Rent, nor shall such acceptance prevent Sublandlord may also treat failure from exercising any of its other available rights and remedies. Sublandlord’s acceptance of Rent shall not constitute a waiver of late charges or interest accrued with respect to pay on the first day such Rent or other payments or any prior installments thereof, nor of a month the Monthly Base Rent payment for such month as a Default any other defaults by Subtenant, and whether monetary or non-monetary in nature, remaining uncured at the time of such acceptance of Rent or other payments. 4.6 In the event of any casualty or condemnation affecting the Sublease Premises, Rent payable by Subtenant shall be entitled proportionately abated, but only as to any the portion of the Sublease Premises damaged or taken and all remedies for only to the extent that Rent payable by Sublandlord is abated or reduced with respect to such Defaultportion of the Sublease Premises.

Appears in 1 contract

Samples: Sublease (Aradigm Corp)

Rent. (a) Commencing on the Phase 1/2 Rent Commencement DateDate (in respect of the Phase 1 Premises and the Phase 2 Premises) and the Phase 3 Rent Commencement Date (in respect of the Phase 3 Premises), Subtenant shall agrees to pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Basic Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined set forth in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant 1.10 to the Sublease Payee specified in Section 1.11, via wire transfer, in immediately available funds, using the instructions set forth on Exhibit F or the Master Lease to such other payee or at such address as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs may be designated by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable notice in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by writing form from Sublandlord to Subtenant, without prior demand therefor and such obligations shall survive the expiration without any set-off, deduction or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rentabatement whatsoever, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses except as otherwise expressly permitted hereunder or under the Master Prime Lease. (d) Monthly Base Rent, Additional . Basic Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a in equal monthly basis and are due and payable installments in advance on the first day of each monthmonth of the Term. Basic Rent shall be pro-rated for partial months at the beginning and end of the Term. All other rent (including Additional Rent) shall charges, costs and sums required to be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when to Sublandlord under this Sublease in addition to Basic Rent shall be deemed “Additional Rent”, and Basic Rent and Additional Rent shall hereinafter collectively be referred to as “Rent”. Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. If any check tendered by Subtenant in payment of Rent, it shall be subject to collection; and, if the same is dishonored upon presentment for payment, Sublandlord, in addition to all other rights and remedies contained in this Sublease, may assess a dishonor charge of Fifty Dollars ($50.00); and Sublandlord shall thereafter have the right to insist that all of Subtenant’s further payments be made by wire transfer or certified check. If Subtenant fails to pay any Basic Rent or any Additional Rent within five (5) calendar days of the time it is due and payable, then such unpaid amounts shall bear interest from the due date thereof to the date of payment at the rate of ten thirteen percent (1013%) per annum until paidannum. As a cumulative Subtenant shall pay the first monthly installment of Basic Rent (which shall be credited against the Basic Rent due and non-exclusive remedy, Sublandlord may also treat failure to pay payable on the first day of a month Phase 1/2 Rent Commencement Date) on or prior to the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultPhase 1 Tender Date.

Appears in 1 contract

Samples: Sublease (Integral Systems Inc /Md/)

Rent. (a) Commencing on During the Commencement DateTerm, Subtenant Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during Landlord the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14equal monthly installments, below)in advance, (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month during the Term, without notice, bill or demand. Notwithstanding the foregoing, provided no Event of Default has occurred and is continuing, Tenant shall not be required to pay Base Rent from the Commencement Date until the Rent Commencement Date. If the Rent Commencement Date is not the first day of a month, the Base Rent for the month in which the Rent Commencement Date occurs shall be apportioned according to the number of days in that month. All other rent Tenant shall pay all Additional Rent that is payable to Landlord within fifteen (including 15) days after Tenant is billed for such amount, unless a different time period is specified in this Lease. Landlord shall have the same rights and remedies with respect to non-payment of Additional Rent as Landlord has with respect to Base Rent) . Rent payable to Landlord shall be paid to Sublandlord Landlord at Landlord’s Address in lawful money of the United States of America by good check or, at Landlord’s request, by wire transfer. All Rent shall be paid without notice, demand, deduction, abatement or setoff, except as otherwise expressly provided in this Lease. A bill for Rent payable to Landlord sent by first class mail to the address to which Notices are to be given under this Lease shall be deemed a proper demand for the payment of the amounts set forth therein, but nothing contained herein shall be deemed to require Landlord to send a Rent bill or otherwise make any demand for the payment of Rent except where such notice or demand is expressly required by the terms of this Lease. This is an absolutely net lease. Accordingly, Landlord shall receive a net return from the Premises equal to the Base Rent, without deduction for any expense or charge for the Premises (except as otherwise expressly provided in this Lease). Tenant shall pay as Additional Rent all expenses, of every kind and nature, relating to or arising from the Premises, including Impositions and expenses arising from the leasing, management, operation, maintenance, repair, use, or occupancy of the Premises and all construction relating to the Premises, except as otherwise expressly provided in this Lease. Notwithstanding the foregoing, so long as no Event of Default has occurred, Landlord agrees to pay all of the following expenses: (a) any expenses expressly agreed to be paid by Landlord in this Lease, (b) debt service and other payments with respect to any Fee Mortgage, (c) expenses incurred by Landlord to monitor and administer this Lease, unless otherwise expressly provided in this Lease, (d) expenses incurred by Landlord in the ownership, leasing, management, operation, maintenance, repair, use or occupancy of the Premises with respect to periods prior to the Commencement Date (subject to adjustment of Impositions as provided in Article IV), and (e) other expenses that are personal to the Landlord, including Xxxxxxxx’s income taxes. Landlord’s delay in rendering, or failure to render, any statement or bill for Additional Rent for any period shall not waive Landlord’s right to render a statement or collect such Additional Rent for that or any subsequent period. If Landlord delivers to Tenant an incorrect statement with respect to any Rent, Landlord shall have the right to give Tenant a corrected statement for the period covered by the incorrect statement and to collect the correct amount of the Rent. If at any time during the Term the Rent is not fully collectible by reason of any Law, Tenant shall enter into such agreements and take such other action as Landlord reasonably requests and which is not prohibited by any Law, to permit Landlord to collect the maximum permissible Rent (but not in excess of the Rent). If such Law terminates prior to the Expiration Date (a) the Rent shall be paid in accordance with this Lease, and (b) Tenant shall pay to Landlord, if not prohibited by any Law, the Rent which would have been paid but for such Law, less the actual amount of Rent paid by Tenant to Landlord during the period of such Law. If any installment of Base Rent or any Additional Rent is not paid within ten five (105) days after Sublandlord’s written demand therefor. Sublandlord may impose of the date due under this Lease, Tenant shall pay Landlord, as Additional Rent, a late charge of equal to five percent (5%) of the overdue amount for, among other things, defraying the expenses incident to handling such delinquent payments. Such charge shall be in addition to, and not in lieu of, any other remedy Landlord may have. If any installment of Base Rent or any Additional Rent is not paid within ten (10) days of the date due or $100under this Lease, whichever is greaterTenant shall pay Landlord, for any rent payment not received as Additional Rent, in addition to the above-described late charge, interest on the date dueoverdue amount at the Interest Rate. In addition, all amounts not paid by Subtenant when due Such overdue Rent shall bear interest at from the rate of ten percent date first due (10%without regard to any grace period) per annum until the date such Rent is paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by SubtenantSuch interest shall be in addition to, and shall be entitled to not in lieu of, any and all remedies for such Defaultother remedy Landlord may have.

Appears in 1 contract

Samples: Ground Lease

Rent. ‌ 4.1. Beginning on the Effective Date and continuing through the Initial Term, Tenant shall pay to Landlord the following amounts as rent (the “Initial Rent”): (a) Commencing a sum per month to pay (1) amounts, including those already incurred by Landlord prior to the Effective Date evidenced by written invoices and approved by Landlord, incurred in the planning or design of the Project including without limitation, architects’, engineers’, planners’, attorneys’ and other professionals’ fees, (2) costs related to developing the Final Construction Drawings; (3) 20% of such invoiced amounts paid to Landlord to reimburse Landlord’s staff time (including staffing the Design Committee and coordinating work of the architects, engineers and other professionals), administrative costs and overhead, not to exceed 4.2. a. Beginning on the Commencement Date and continuing during the Term, Tenant shall pay to Landlord rent in the amount per month that will match the amortization schedule for the Bonds (corresponding to the Bond Term as defined above) as provided by the USDA, or as provided by bond counsel on the Bonds based on the Bond Term and the interest rate and other information provided by the USDA in its approval of the financing, or as otherwise provided by bond counsel if the Bonds are not issued pursuant to the USDA rural development program (“Base Rent”). In no event shall the amount of the Base Rent payable on any date be less than, or exceed, the aggregate amount of principal, interest, reserve replenishment, indemnity, fees, costs and expenses required to be paid or prepaid on such date with respect to the Bonds, according to their tenor or as otherwise specified in the Bond Resolution. The obligation of Tenant to pay Base Rent shall commence on the Commencement Date, Subtenant shall . To secure the performance of its obligation to pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for Tenant shall deposit with the payment of Landlord, the following: Base Rent at least two (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (102) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Subleasebefore each Base Rent payment date. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly The Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be Initial Rent are also referred to collectively hereinafter as the rentRent”.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Building Lease Agreement

Rent. (a) Commencing Beginning on the Commencement Date, Subtenant shall pay monthly base full service agrees to pay, as gross rent for the Premises the (“Monthly Base Rent”) ), the monthly rent set forth in the table below. This Sublease is a gross sublease and, as such, Subtenant shall have no obligation to pay operating expenses or similar charges under the Master Lease. All payments of Rent shall be made to the Sublandlord during at the term Sublandlord’s address set forth in the opening paragraph of this Sublease, or to such other payee or at such other address as may be designated by notice in writing from Sublandlord to Subtenant, without offsetprior demand therefor and without any setoff or deduction whatsoever. January 1, deduction or abatement2018—January 31, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial 2019 $ 5,530 per month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a February 1, 2019—November 30-day , 2019 $ 5,600 per month. (b) In addition to Monthly Base RentNotwithstanding the foregoing, Subtenant is responsible Rent shall be 100% abated for the payment first month of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVACTerm, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord that the first installment of Rent shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectivelyon February 1, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.00012018. (c) Notwithstanding Subtenant’s obligation covenant to pay Additional RentRent shall be independent of every other covenant in this Sublease. If Rent is not paid when due, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not pay, relative to the delinquent payment, an amount equal to the sum which would be responsible payable by Sublandlord to Master Landlord for separate payment of Operating Expenses an equivalent delinquency under the Master Lease. To the extent Subtenant’s specific use or occupancy of the Premises gives rise to any additional charges from Master Landlord to Sublandlord, pursuant to the terms of the Master Lease, Subtenant shall, upon demand, directly pay to Master Landlord, or reimburse Sublandlord, an amount equal to such charges. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively also pay, as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due when due, all taxes and payable in advance assessments levied against trade fixtures, alterations, additions, improvements, inventories and other personal property located at the Premises and/or installed or maintained on the first day Premises by Subtenant; and, promptly following request therefor from Sublandlord, Subtenant shall provide Sublandlord copies of each monthreceipts for payment of all such taxes and assessments. All other rent To the extent any such taxes or assessments are not separately assessed or billed to Subtenant, Subtenant shall pay the amount thereof as invoiced by Sublandlord. (including Additional Rente) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) Except for utilities that are the responsibility of the amount due or $100Master Landlord under the Master Lease, whichever is greater, Subtenant shall transfer all utilities for any rent payment not received on the date due. In addition, Premises into its name and shall pay all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment charges for such month utilities as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultthey become due.

Appears in 1 contract

Samples: Sublease Agreement (Savara Inc)

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Rent. 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) Commencing During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the "Base Rent"). (b) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year. (c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year. (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the actual cost incurred by Landlord with respect to all electricity, chilled water, air conditioning, gas, fuel, steam, heat, light, power and other utilities consumed within the Premises, as more particularly described herein (all such costs payable by Tenant pursuant to this section 3.1(d) shall be referred to as "Tenant's Monthly Utility Charge", and all such amounts shall constitute rent hereunder). (i) All electricity directly serving the Premises ("Direct Electrical Costs") shall be metered or submetered and Tenant shall pay, as monthly rental, the actual cost (without mark up by Landlord) of all such Direct Electrical Costs either to Landlord as a reimbursement, or, at Landlord's election, as a payment directly to the entity providing such electricity. Such payments to Landlord of Direct Electrical Costs shall be made within thirty (30) days of Landlord's delivery of an invoice to Tenant therefor. (ii) With respect to all utility costs for the Premises other than Direct Electrical Costs (collectively, "Other Utility Costs"), Landlord shall have the right, from time to time, to equitably allocate some or all of such Other Utility Costs among different portions or occupants of the Building ("Cost Pools"), in Landlord's reasonable discretion. Such Cost Pools may include, but shall not be limited to, office space tenants, residential space occupants, and retail space tenants of the Building. The utility costs within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner (without markup by Landlord). (e) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated "additional rent." As used in this Lease, "rent" shall mean and include all Base Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. 3.2 The additional rent payable pursuant to sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof shall be calculated and paid in accordance with the following procedures: 1131701.06/SF372493-00050/1-31-20/pwn/pwn -4- (a) On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord's estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for the ensuing calendar year. On or before the first day of each month during such ensuing calendar year, Tenant shall pay to Landlord, as monthly rent, one-twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the Commencement Datebasis of the prior calendar year's estimate until the month after such notice is given. If at any time it appears to Landlord that the amounts payable under sections 3.1(b), Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”3.1(c), and 3.1(d)(ii) hereof for the current calendar year will vary from Landlord's estimate, Landlord may, by giving written notice to Sublandlord during Tenant, revise its estimate for such calendar year. If Landlord delivers its estimate after the term first day of this Subleasea calendar year, without offsetor if Landlord revises its estimate for a calendar year, deduction or abatement, which Monthly Base Rent then subsequent payments by Tenant for such calendar year shall be in based on such late or revised estimate, as the case may be, with an appropriate adjustment to the amount of Sixtysuch subsequent payments such that, prior to the end of such calendar year or portion thereof during the Lease Term, Tenant shall have paid Landlord's entire estimate of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year. (b) Within a reasonable time after the end of each calendar year, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments payable under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statement. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord's right to receive, and Tenant's obligation to pay, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof. During the Lease Term, but in no event more often than once in any one (1) year period, Tenant or its authorized employee or representative shall have the right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord's office in the Building or at such other location as Landlord may designate, for the purpose of verifying the information in such statement; provided that, if Tenant utilizes an independent accountant to perform such review, then such accountant shall be one of national standing which is reasonably acceptable to Landlord and is not compensated on a contingency basis; and provided further that Tenant shall have no right to inspect such books pertaining to any given period more than one hundred eighty (180) days after Landlord shall have delivered the written statement pertaining to such period. If Xxxxxx wishes to dispute an amount shown on the annual statement, Tenant shall give Landlord written notice of such dispute within one hundred eighty (180) days after Xxxxxx’s receipt of the annual statement. If Tenant does not give Landlord such notice within such time, Tenant shall have waived its right to dispute the annual statement. Promptly after the receipt of such written notice from Tenant, Landlord and Tenant shall endeavor in good faith to resolve such dispute. If such efforts do not succeed, Xxxxxx shall have the right to cause a nationally recognized independent certified public accountant designated by Tenant, to be paid on an hourly and not a contingent fee basis, to audit the items questioned by Tenant in its original notice contesting the annual statement, provided that Tenant (i) notifies Landlord in writing of Tenant’s intention to exercise such audit right within thirty (30) days after the relevant initial written notice from Tenant to Landlord with respect to such dispute, (ii) actually begins such audit within thirty (30) days after the notice from Tenant to Landlord advising Landlord that Tenant will require an audit (provided that such 30-Five Thousand day period within which the audit must be commenced shall be extended by the length of any delay in the commencement of the audit that is caused by Landlord) and No/100 Dollars ($65,000.00iii) diligently pursues such audit to completion as quickly as reasonably possible. Xxxxxxxx agrees to make available to Xxxxxx’s auditors, at Landlord’s office in San Francisco and/or at Landlord’s office in the Building (at Landlord’s sole option), the books and records relevant to the audit for review and copying, but such books and records may not be removed from Landlord’s offices. Monthly Base Rent Tenant shall bear all costs of such audit, including Landlord’s actual copying costs and personnel costs, if any incurred in connection with such audit (provided that, prior to incurring any personnel costs in connection with any such audit, Landlord shall advise Tenant of Landlord’s anticipated personnel costs so that Tenant may, at Tenant’s option, modify Tenant’s activities with regard to such audit in order to preclude the need for Landlord to incur such personnel costs), except that, if the audit (as conducted and certified by the auditor) shows an aggregate overstatement of Operating Expenses of five (5%) or more, and Xxxxxxxx’s auditors concur in 1131701.06/SF372493-00050/1-31-20/pwn/pwn -5- such findings (or, in the absence of such concurrence, such overstatement is confirmed by a court of competent jurisdiction or such other dispute resolution mechanism as to which the parties mutually agree in writing), then Landlord shall bear all costs of the audit. If the agreed or confirmed audit shows an underpayment of Operating Expenses by Xxxxxx, Tenant shall pay to Landlord, within thirty (30) days after the audit is agreed to or confirmed, the amount owed to Landlord, and, if the agreed or confirmed audit shows an overpayment of Operating Expenses by Xxxxxx, Landlord shall reimburse Tenant for such overpayment within thirty (30) days after the audit is agreed to or confirmed. Notwithstanding anything to the contrary set forth above, Xxxxxx’s audit rights under this section 3.2(b) shall be conditioned upon (i) Tenant having paid the total amounts billed by Landlord under this Article 3 within the time stipulated herein for payment (including, without limitation, the contested amounts) and (ii) Tenant executing, prior to the commencement of the audit, a confidentiality agreement in form and substance reasonably satisfactory to Landlord in which Tenant shall agree to keep confidential, and not disclose to any partial month at other party, the beginning results of any such audit or any action taken by Landlord in response thereto. (c) If the Lease Term ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b), 3.1(c), and 3.1(d)(ii) hereof applicable to the calendar year in which the end of the term of this Sublease occurs shall be prorated on the basis which the number of a 30days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty-day monthfive (365). Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination. (b) In addition to Monthly 3.3 Tenant shall pay all monthly installments of Base Rent, Subtenant is responsible for the payment Rent and monthly installments of the following: (i) the Parking Charges (as defined in Section 14, belowLandlord's estimates of amounts payable under sections 3.1(b), (ii3.1(c), and 3.1(d)(ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease hereof (collectively, “Additional "Monthly Rent”). All such amounts shall be payable ") to Landlord, in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenantadvance, and such obligations shall survive the expiration on or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on before the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) and every calendar month during the Lease Term, without notice, demand, deduction or offset except as otherwise expressly set forth in this Lease, in lawful money of the amount due or $100, whichever is greater, for any rent payment not received on the date dueUnited States of America. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure Landlord instructs Tenant to pay all such Monthly Rent to the address specified therefor in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate in writing. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant's designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. If Xxxxxx's obligation to pay Base Rent hereunder commences on a day other than the first day of a month calendar month, or if the Monthly Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payment payable for such partial month as a Default by Subtenant, and shall be entitled appropriately prorated on the basis of a thirty (30)-day month. Upon signing this Lease, Tenant shall pay to any and all remedies Landlord an amount equal to the Base Rent for the first full calendar month of the Term in which monthly Base Rent is payable, which amount Landlord shall apply to the Base Rent for such Defaultfirst full calendar month.

Appears in 1 contract

Samples: Lease (Dexcom Inc)

Rent. (a) Commencing 4.1. The rent payable by Subtenant for the Sublease Premises shall consist of the Base Rent under Section 4.2, Additional Rent under Section 4.3 and Other Charges under Section 4.4. Base Rent, Additional Rent, Other Charges and any other sums payable by Subtenant under this Sublease are collectively referred to as “Rent.” Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Subtenant shall make all payments due to Sublandlord pursuant to this Sublease as follows: check, wire, or other form of payment specified in writing by Sublandlord from time to time. 4.2. Beginning on the Sublease Commencement DateDate (subject to Section 1.7) and continuing thereafter on the first day of each calendar month during the Sublease Term, Subtenant shall pay to Sublandlord in advance, and without notice, demand, deduction or offset, the monthly base Base Rent specified in Section 1.7 above in lawful money of the United States of America. If the Sublease Commencement Date is a day other than the first day of a calendar month or the Expiration Date is a day other than the last day of a calendar month, the Base Rent for such month will be prorated, based on a thirty (30) day month. Subtenant shall deliver in advance the first full service gross month of Base Rent to Sublandlord together with Subtenant’s executed counterpart of this Sublease. 4.3. In addition to monthly Base Rent, as additional rent (“Monthly Base Additional Rent”) Subtenant shall be responsible for paying to Sublandlord Subtenant’s Share of any Operating Expenses and Taxes (collectively, “Direct Expenses”) as such terms are defined in the Master Lease, payable by Sublandlord under the Master Lease during the term Sublease Term, to reimburse Master Landlord for taxes, insurance, operating expenses, common area maintenance charges, management fees, capital expenditures for required repairs or improvements and/or other expenses included in Direct Expenses. Sublandlord will use commercially reasonable efforts to pass through to Subtenant in a timely manner any statement or estimate of this SubleaseDirect Expenses received from Master Landlord. To the extent Direct Expenses are payable on a monthly estimated basis under the Master Lease, the Additional Rent in respect thereto shall be paid as and when Base Rent is due based upon Master Landlord’s estimates; and upon any reconciliation of estimated and actual Direct Expenses (including without offsetlimitation any credits against Sublandlord’s rental obligations under the Master Lease), deduction or abatement, which Monthly Base the corresponding Additional Rent shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement under the Master Xxxxx. For purposes of calculating Additional Rent, Sublandlord shall be entitled to rely conclusively on Master Landlord’s determination of estimated and actual Direct Expenses; provided, however, that if any adjustment of Additional Rent paid under the Master Lease results in a payment or credit to Sublandlord under the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent Master Lease for any partial month at the beginning or the end period of the term Sublease Term, such payment or credit shall be paid over or credited to Subtenant following receipt or credit to Sublandlord. The expiration or earlier termination of this Sublease shall be prorated on not affect the basis obligations of a 30-day month. (b) In addition to Monthly Base Rent, Sublandlord or Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to SubtenantSection 4.3, and such obligations shall survive the survive, remain to be performed after, any expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding SubtenantIn the event that Sublandlord audits the books and records, or any of them, of the Master Landlord with respect to any payment of Master Landlord’s obligation Operating Expenses and/or Taxes with respect to pay Additional Rentthe Subleased Premises, subject to Master Xxxxxxxx’s prior written consent in each instance, Sublandlord agrees to provide Subtenant with copies of any such books and Subtenant hereby acknowledge and agree records, provided that Subtenant shall not be responsible for separate payment in all cases agrees to sign any confidentiality agreement (“NDA”) required by Master Xxxxxxxx and Sublandlord; and provided further, that, subject to Master Xxxxxxxx’s prior written consent in each instance, Sublandlord shall, upon the reasonable written request of Operating Expenses Subtenant and consistent with any express rights accorded to Sublandlord under the Master Lease, at Subtenant’s sole cost and expense, request an audit of Master Landlord’s books and records in which Subtenant may participate, so long as Subtenant first signs any NDA required by Master Landlord and Sublandlord. If Sublandlord obtains a refund allocable to Master Landlord’s Operating Expenses and/or Master Landlord’s Taxes relating to the Subleased Premises after Subtenant makes a payment on account of such Master Landlord Operating Expenses and/or Master Landlord’s Taxes (as applicable), Sublandlord shall, based upon Sublandlord’s equitable determination, refund Subtenant an amount corresponding to Subtenant’s proportionate share of such refund. 4.4. Throughout the Sublease Term, Subtenant also shall pay within thirty (30) days after written notice from Sublandlord (i) any other fees, charges or sums due under the Master Lease in connection with Subtenant’s use and/or occupancy of the Sublease Premises, (ii) costs related to Utilities (defined in Section 6.1 below), and (iii) any gross receipts and/or rent tax respecting this Sublease and/or imposed on Sublandlord based upon the Rent payable hereunder, and any taxes assessed upon or incurred with respect to the possession, leasing, operating, management, maintenance, alteration, repair, use or occupancy by Subtenant of the Sublease Premises or any portion of the Building (collectively, “Other Charges”). By way of illustration and not limitation, Other Charges include: (a) excess or after hours electrical service or heating, ventilating or air conditioning service supplied to the Sublease Premises; (b) services or benefits supplied to the Sublease Premises for which Master Landlord reserves any right to impose a fee or charge separate from Direct Expenses; (c) to reimburse Master Landlord for taxes on personal property, equipment and fixtures located in or about the Sublease Premises during the Sublease Term; (d) Monthly Base Rentto pay for any damage to the Building resulting from the gross negligence or willful misconduct of Subtenant or Subtenant’s officers, Additional Rent employees, architects, engineers, contractors or other licensees, guests, visitors or other invitees, sub-subtenants, successors or assigns (collectively, the “Subtenant Parties”), but only to the extent not covered by insurance maintained or required to be maintained by Master Landlord under the Master Lease; and all (e) for damages or other costs and expenses payable hereunder sums recoverable under the Master Lease which are the result of any acts, omissions, or negligence by Subtenant, its agents, employees, or contractors, or failure of performance or Default by Subtenant shall be referred to collectively as “rentunder this Sublease. 4.5. All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis at the address set forth in Section 1.11, or to such other person or such other place as Sublandlord may from time to time designate in writing. If any Rent is not paid within three (3) business days after its due date, Subtenant acknowledges that Sublandlord will incur additional administrative expenses and costs which are due and payable in advance on the first day of each monthdifficult or economically impractical to ascertain. All other rent (including Additional Rent) Subtenant shall be paid pay an administrative charge to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of equal to five percent (5%) of the delinquent amount due or $100, whichever is greater, for plus any rent payment not received on the date due. In addition, all amounts not paid attorneys' fees incurred by Subtenant when due shall bear interest at the rate Sublandlord by reason of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat Subtenant's failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenantand/or Other Charges when due hereunder. However, and Subtenant shall be entitled to notice of nonpayment and a three (3) business day cure period prior to the imposition of such late charge on the first occasion in any twelve (12) consecutive month period in which any installment of Rent is not timely paid. Neither demand for nor receipt of any late charge called for under this Sublease shall (i) operate to waive any default by Subtenant or provide a substitute for Subtenant’s full and all remedies for such Defaulttimely performance of the obligation to pay Rent, or (ii) limit the exercise of any other right or remedy Sublandlord may have under this Sublease in case of Subtenant’s default.

Appears in 1 contract

Samples: Sublease (Talis Biomedical Corp)

Rent. (a) Commencing on 4.1 From and after the Rent Commencement Date, Subtenant Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars twelve ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b12) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a equal monthly basis and are due and payable installments in advance on the first day of each month, without any offset, abatement, defense, claim, counterclaim or deduction whatsoever. All Simultaneously with Tenant’s execution of this Lease, Tenant shall pay an amount equal to One Hundred Thousand and 00/100 Dollars ($100,000.00), which amount shall be credited toward the monthly installment of Base Rent and Additional Rent payable for the first full calendar month of the Term. If the Rent Commencement Date is not the first day of a calendar month, then the Base Rent from the Rent Commencement Date until the first day of the following calendar month shall be prorated on a per diem basis at the rate of one-thirtieth (1/30th) of the monthly installment of the Base Rent payable during the first Lease Year, and Tenant shall pay such prorated installment of the Base Rent on or before the Rent Commencement Date. If the Expiration Date of this Lease is not the last day of a calendar month (other rent than by reason of Tenant’s default), then Base Rent for such month shall be prorated on a per diem basis at the rate of one-thirtieth (including 1/30th) of the monthly installment of the Base Rent payable during the Lease Year in which the Lease terminates. (a) Any item of rent, or other fee or charge owed by Tenant to Landlord hereunder, other than Base Rent, and any cost, expense, damage or liability incurred by Landlord for which Tenant is liable hereunder, shall be considered “Additional Rent) shall ” payable pursuant to this Lease, without any offset, abatement, defense, claim, counterclaim or deduction whatsoever and shall, unless a different time period is specifically provided herein, be paid to Sublandlord by Tenant within ten (10) days after Sublandlord’s written demand thereforan invoice therefor is given to Tenant. Sublandlord may impose a late charge of five percent (5%) of As used herein, the amount due or $100term “Rent” shall mean, whichever is greater, for any rent payment not received on the date due. In additioncollectively, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultAdditional Rent.

Appears in 1 contract

Samples: Lease Agreement (Jackson Hewitt Tax Service Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant Tenant shall pay monthly base full service gross rent (“Monthly as "Base Rent”) to Sublandlord " for each Lease Year during the term Initial Term the sum of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of SixtyTwo Hundred Fifty-Five Two Thousand and No/100 Dollars ($65,000.00254,400), payable in advance, in equal monthly installments of Twenty-One Thousand and No/100 Dollars ($21,200). Monthly If Tenant exercises its option(s) to extend the Term, Tenant shall pay as Base Rent during the Renewal Term(s) a rental based upon the "market rate" for any partial month at the beginning or Premises. The first and last monthly installments are due and payable on the end of the term execution of this Sublease shall be prorated on Lease and the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and remaining installments are due and payable in advance on the first day of each monthand every month during the Term, without offset or deduction, to Landlord at the address set forth in Paragraph 26 or at such other place as Landlord may hereafter designate in writing. Rent checks are to be made payable to Landlord, or such other person, firm or corporation as Landlord may designate in writing. (b) All sums due and payable by Tenant under this Lease other rent (including than Base Rent are "Additional Rent) ", whether or not so called in the text of this Lease. Any Additional Rent for which no time for payment is specified in this Lease shall be paid to Sublandlord due and payable within ten (10) days after Sublandlord’s written demand is made therefor. (c) All Rent, whether Base Rent or Additional Rent, is due and payable in full without demand, deduction or set-off and Tenant's obligation to pay the same shall survive the expiration or other termination of this Lease. Sublandlord Tenant's covenant to pay Rent is an independent covenant. (d) Rent shall be equitably prorated for any partial Lease Year or calendar year, as the case may impose a late charge be, during the Term. (e) For each Renewal Term, Tenant shall notify Landlord that Tenant desires to exercise its option to extend the Term of this Lease for the next ensuing five percent (5%) year period, and to obtain an appraisal of the amount due or $100Premises to determine the market rent for the Premises by delivering written notice to Landlord not less than one hundred eighty (180) days prior to the beginning of each Renewal Term. Tenant shall include in such notice the name of an MAI appraiser selected by Tenant which has an office in Macomb County, whichever is greaterMichigan. Landlord shall within thirty (30) days following receipt of such notice from Tenant give written notice to Tenant setting forth the name of a second MAI appraiser with an office in Macomb County, Michigan. If Landlord fails to notify Tenant of the name of an appraiser within the thirty (30) day period, then the appraiser selected by Tenant shall determine the market rent and the decision of said appraiser shall be binding upon the parties hereto. If Landlord has selected an appraiser in accordance with the provisions of this Paragraph, then the appraiser selected by Landlord and the appraiser selected by Tenant shall meet and select a third MAI appraiser with an office in Macomb County, Michigan. The appraiser selected by Landlord and the appraiser selected by Tenant shall each appraise the Premises for purposes of obtaining said market rent. The third appraiser shall determine and notify Landlord and Tenant which of the two appraisals made by Landlord's and Tenant's appraisers more closely reflects the market rent of the Premises, and the decision of the third appraiser shall be binding upon the parties hereto. Notwithstanding anything in this paragraph to the contrary, in no event shall the Base Rent for any rent payment not received on Renewal Term be less than the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month the last year of the previous Renewal Term or the last year of the Initial Term, as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultapplicable.

Appears in 1 contract

Samples: Lease (MPW Industrial Services Group Inc)

Rent. (a) Commencing Tenant shall all times maintain the rental payments due and owing on the Existing Space as described under the terms of the Lease. The FurnitureMax Rental Commencement Date, Subtenant Date shall be a date which is the earlier of (i) the date on which Tenant shall open the FurnitureMax Space for business; or (ii) sixty (60) after the date Landlord delivers the Space to Tenant. Tenant shall pay monthly base full service gross rent Fixed Rent for the FurnitureMax Space from and after the FurnitureMax Rental Commencement Date as follows: From the FurnitureMax Rental Date through the fifth lease year of the Initial Amendment Term - Forty-Two Thousand Six Hundred Three and Dollars per year based upon Eight and Dollars (“Monthly Base Rent”$8.75) to Sublandlord during per square foot of floor area; , , (b) From the term sixth lease year of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount Initial Amendment Term through the balance of Sixtythe Initial Amendment Term - Forty-Five Thousand Thirty Eight and No/100 Dollars ($65,000.00)45,038.25) per year based upon Nine and Dollars ($9.25) per square foot of , floor area. Monthly Base Rent for For any partial month at month, the beginning or the end of the term of this Sublease Fixed Annual Rent shall be prorated on a daily basis. In addition to the basis Fixed Annual Rent, from and after the date of a 30this Amendment, Tenant shall be responsible for Tenant's Proportionate Share of all taxes, assessments, common area costs, utility charges and all such charges due and payable to Landlord in full accordance with the Lease provisions connection therewith. Landlord and Tenant shall also provide for insurance for the Space in accordance with Article Twelve of the Lease. Tenant shall not pay Percentage Rent with respect to the FurnitweMax Space. Tenant shall pay rent for the Space during renewal terms as follows: (a) Annual rent for the first extended term shall be Fifty-day month.Three Thousand Five Hundred Fifty Nine Dollars per year based on Eleven Dollars ($11 per square foot of floor area; (b) In addition to Monthly Base Rent, Subtenant is responsible Annual rent for the payment second and subsequent extended terms shall be determined prior to the commencement of any such renewal term in accordance with Article Three of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Lease Amendment

Rent. Landlord may collect Rent directly from the assignees, subtenants, or other transferees; but no Transfer shall be a deemed a waiver of Landlord’s rights under this Article or the acceptance of the proposed assignee, subtenant occupant or transferee, or a release of Tenant from the further performance of the covenants obligating Tenant under this Lease. Notwithstanding any Transfer, Tenant shall remain fully and primarily liable under this Lease and shall not be released from performing any of the terms, covenants and conditions of this Lease. In the event of any assignment or sublease (other than the OCOM Sublease), Landlord shall receive as additional rent hereunder fifty percent (50%) of Tenant’s Excess Consideration (as defined below) derived from such assignment or sublease. If Tenant shall elect to assign or sublet, Tenant shall use reasonable and good faith efforts to secure consideration from any such assignee or subtenant which would be generally equivalent to then-current market rent, but in no event shall Tenant’s monetary obligations to Landlord, as set forth in this Lease, be reduced. (a) Commencing In the event of a sublease other than the OCOM Sublease, “Excess Consideration” shall mean all rent, additional rent or other consideration actually received by Tenant from such subtenant and/or actually paid by such subtenant on behalf of Tenant in connection with the Commencement Datesubletting in excess of the rent, Subtenant shall pay monthly base full service gross additional rent (“Monthly Base Rent”) to Sublandlord and other sums payable by Tenant under this Lease during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end sublease on a per square foot basis if less than all of the term Premises is subleased, less marketing costs, attorneys’ fees and brokerage commissions, if any, reasonably incurred by Tenant to procure the sublease, and the cost of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible any alterations made by Tenant specifically for the payment benefit of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Leasesubtenant. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

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

Rent. On the date that Lessee executes this Lease, Lessee shall deliver to Lessor the original executed Lease, the Base Rent (a) Commencing on which shall be applied against the Commencement Date, Subtenant shall Rent payable for the first month Lessee is required to pay monthly base full service gross rent (“Monthly Base Rent”) ), the Security Deposit, the Cleaning Deposit, and all insurance certificates evidencing the insurance required to Sublandlord during the term be obtained by Lessee under Paragraph 12 of this SubleaseLease. Lessee agrees to pay Lessor, without prior notice or demand, or abatement, offset, deduction or abatementclaim, which Monthly the Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated described on the basis of a 30-day month. (b) In addition to Monthly Base RentPage 1, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance at Lessor's address shown on Page 1 on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) month throughout the term of the amount due or $100, whichever is greater, for any rent payment not received on the date dueLease. In additionaddition to the Base Rent set forth on Page 1, all amounts not paid by Subtenant when due Lessee shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative pay Lessor in advance and non-exclusive remedy, Sublandlord may also treat failure to pay on the first (1st) day of a each month throughout (the Monthly Base Rent payment for term of this Lease (including any extensions of such month term), as a Default by Subtenantadditional rent Lessee's share, as set forth on Page 1, of Increases in Operating Expenses, Increases in Tax Expenses, Increases in Common Area Utility Costs, administrative expenses, Trash and Water Charge and Utility Expenses, as specified in Paragraphs 6.A,, 6.13., 6.C. and 7 of this Lease, respectively. Additionally, Lessee shall be entitled pay to Lessor as additional rent hereunder, immediately on Lessor's demand therefor, any and all remedies costs and expenses incurred by Lessor to enforce the provisions of this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Premises by Lessee, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Lessor permits Lessee to occupy the Premises without requiring Lessee to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Lessee shall otherwise perform all other obligations of Lessee hereunder, including, but not limited to paying to Lessor any and all amounts considered additional rent, such Default.as Lessee's share of Increases in Operating Expenses, Increases in Tax Expenses, Increases in Common Area Utility Costs, Trash and Water Charge, Utility Expenses, and administrative expenses. If,

Appears in 1 contract

Samples: Lease Agreement (Bikers Dream Inc)

Rent. (a) Commencing Sublessee shall pay to Sublessor as Rent, without deduction, setoff, notice or demand, at The Scripps Research Institute, 00000 Xxxxx Xxxxxx Xxxxx Road, La Jolla, CA 92037, or at such other place as Sublessor shall designate from time to time by written notice to Sublessee, paid on the first day of each month of the Term, Sublessor’s current actual rental rate per the Master Lease, estimated to be the amount of $4.31 per rentable square feet (“RSF”) times the 5,620 rentable square feet of the Premises, as of the Commencement DateDate of the Sublease, Subtenant which rental rate shall increase by Sublessor’s actual increased rental rate per the Master Lease as of the first day of November of each year during the Term. Sublessee shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term Sublessor upon execution of this Sublease, without offsetand Sublessee’s receipt of a letter from Lessor consenting to this executed Sublease, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base 24,222.20 as Rent for any partial the first month at the beginning or the end of the term Term. If the Term begins on a day other than the first day of this Sublease a month, the Rent for the partial months shall be prorated on a per diem basis based on the basis actual number of days in the month in which the Sublease commences. Additional provisions: · Sublessee shall also deposit with Sublessor $24,222.20 as a security deposit (“Security Deposit”), in the form of cash or check, at the sole discretion of Sublessee, upon execution of this Sublease and Sublessee’s receipt of a 30-day month. (b) In addition letter from the Lessor consenting to Monthly Base Rent, Subtenant is responsible this executed Sublease. The Security Deposit shall be held by Sublessor as security for the payment performance of the following: (i) the Parking Charges (as defined in Section 14Sublessee’s obligations under this Sublease. The Security Deposit, below), (ii) the actual expenses incurred by Sublandlord for or any additional services requested by Subtenant that are to be provided by Master Landlord balance thereof (i.e., if Subtenant requests after deducting therefrom all amounts to which Sublessor is entitled under the use provisions of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord this Sublease) shall be payable returned to Sublandlord by Subtenant); Sublessee within sixty (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (1060) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 If Sublessor transfers its interest in this Sublease, Sublessor shall either (c1) Notwithstanding Subtenanttransfer any Security Deposit then held by Sublessor to a person or entity assuming Sublessor’s obligation obligations or (2) return to Sublessee any Security Deposit then held by Sublessor and remaining after any deductions permitted under this Sublease. · During the Term, Sublessee shall pay Additional Rentto Sublessor its pro-rata share, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment on a direct pass through basis as charged to Sublessor by Lessor, of Operating Expenses all operating expense costs charged to Sublessor under the Master Lease. . For purposes of clarification, the parties mutually agree that Sublessee’s pro-rata share (di.e., the proportional share the Premises bears to the Master Premises) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred set at 26.83% of the total cost of the above-referenced operating expenses charged to collectively as “rent.” All Monthly Base Rent payments Sublessor under the Master Lease. One twelfth (1/12) of the annualized amounts owed by Sublessee under this section for operating costs shall be paid to Sublandlord on a monthly basis and are due and payable in advance Sublessor on the first day of each monthmonth during the Term. All other rent (including Additional Rent) · Sublessor shall be paid entitled to Sublandlord use all or any portion of the Security Deposit, as reasonably necessary, to (i) cure Sublessee’s default in the payment of Rent, operating expenses, and/or any other amounts due under this Sublease; (ii) repair any damage or loss, excluding ordinary wear and tear, caused or contributed to by Sublessee or its invitees; (iii) clean the Premises, if necessary to return the Premises to the condition it was in prior to Sublessee occupying the Premises, upon the expiration or termination of this Sublease; and/or (iv) replace or restore furnishings, fixtures, equipment or other appurtenances other than due to normal wear and tear as a result of Sublessee’s use of the Premises. The Security Deposit shall not be used by Sublessee in lieu of payment of the last months’ Rent. If all or any portion of the Security Deposit is used by Sublessor as permitted hereunder during the Term, Sublessee agrees to pay to Sublessor an amount sufficient to reinstate the Security Deposit to its original amount within ten five (105) days after Sublandlordreceiving Sublessor’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date duenotice to reinstate such Security Deposit. In addition, all amounts not no interest will be paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultSecurity Deposit.

Appears in 1 contract

Samples: Sublease (Fate Therapeutics Inc)

Rent. Subtenant covenants and agrees to pay Sublandlord as rent during the term of this Sublease annual rent specified in this Section 2 below (athe “Annual Rent”) Commencing and other charges, if any (sometimes referred to as “additional rent” and collectively with Annual Rent, the “Rent”) specified below. Annual Rent shall be paid without any prior notice or demand therefor and without deduction or offset (except as otherwise set forth in this Sublease including any provisions of the Lease incorporated herein). Unless otherwise specified in this Sublease, all other Rent shall be payable within thirty (30) days after Subtenant’s receipt of an invoice with respect thereto. For any partial month, all Rent shall be prorated. Subtenant’s obligation to pay Rent, being deemed rent reserved under the Sublease, shall be independent of each and every other covenant contained in this Sublease (including the terms of the Lease that are incorporated herein). Rent shall include, and Subtenant shall pay to Sublandlord (or to Landlord as Sublandlord may expressly direct in writing) as additional rent hereunder any and all charges billed directly to Sublandlord for the account of Subtenant arising from Subtenant’s own use of the Sublet Premises, e.g., and without limitation, charges for repair of damage caused by Subtenant for which Sublandlord is responsible to reimburse Landlord, charges for work or services not otherwise required under the Sublease or Lease requested by Subtenant and performed or provided specifically for Subtenant, as well as charges for any overtime labor or usage with respect thereto (if overtime is charged by Landlord or otherwise must be incurred by Sublandlord), and the like; provided, notwithstanding anything in this Sublease to the contrary, Subtenant shall not be liable for any operating expenses or taxes or similar additional rent items or for utilities (including, without limitation, electricity), the parties hereby agreeing that such amounts have been accounted for in the Annual Rent rate set forth herein. Sublandlord shall have the same right to enforce payment on account of such additional charges as it shall have to enforce Subtenant’s payments on account of Rent. Sublandlord shall furnish to Subtenant any backup that Landlord shall furnish to Sublandlord with respect to any charges claimed by Landlord relating to the Sublet Premises or, if Landlord fails to furnish same, shall request the backup for such charges to enable Subtenant to determine the validity thereof. The first Lease Year for purposes of payment of Annual Rent shall commence on the Sublease Rent Commencement Date (defined below). Subtenant’s obligation to make monthly payments on account of Rent shall commence to accrue on the date (“Sublease Rent Commencement Date”), which is the later of (i) August 1, 2020 and (ii) the earlier of (x) the date which is four months after the Sublease Commencement Date (being that date which signifies the fulfillment of all conditions precedent to identification of the Sublease Commencement Date, Subtenant including without limitation the Special COVID-19 Provision) and (y) if the aforesaid Sublease Commencement Date shall pay monthly base full service gross rent (“Monthly Base Rent”) have occurred, October 1, 2020. Annual Rent shall be paid to Sublandlord during at the address set forth in the first paragraph of this Sublease, in advance, on the first day of each and every month throughout the term of this Sublease, without offsettimely payment being of the essence hereof. If Subtenant fails to pay any installment within five (5) days after same is due, deduction or abatement, which Monthly Base Rent such unpaid amount shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month bear interest at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges Applicable Rate (as defined in Section 14, below), the Lease) from and after the first (ii1st) day following the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are date(s) said installment become due until paid in full. Nothing in this paragraph shall be deemed to be provided by Master Landlord limit Sublandlord’s other rights and remedies as may accrue under the Lease (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to except Sublandlord shall only be payable permitted to Sublandlord by Subtenant); (iiicharge interest in accordance with this paragraph) any charges permitted by and pursuant to the or this Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to or any and all remedies for such Defaultportion thereof.

Appears in 1 contract

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

Rent. (a) Commencing on the Commencement Date, Subtenant Tenant shall pay to Landlord, at Landlord’s address for notice hereinafter set forth or at such other place as Landlord may specify, without any right of set-off or deduction and without any prior notice of demand, the Basic Rent as set forth in Exhibit “A” in equal monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord installments for each month during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Lease. Basic Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable monthly in advance advance, beginning on the Commencement Date and continuing on the first day of each month thereafter throughout the Lease Term. If the Commencement Date is other than the first day of a month. All , the amount of Basic Rent payable on the Commencement Date shall be one-thirtieth (1/30) of the monthly Basic Rent for each day prior to the first day of the next month and, if the term of this Lease terminates other rent than on the last day of a month, the amount of the final installment of Basic Rent shall be one-thirtieth (including 1/30) of the monthly Basic Rent for each day then remaining in the Lease term. (b) As a further inducement for Landlord to enter into this Lease, Tenant shall also pay to Landlord, as Additional Rent, reimbursement for property taxes for the Premises and for insurance carried by the Landlord for the Premises. The Xxxxxxx may elect to purchase insurance on the Premises in lieu of reimbursing the Landlord for insurance purchased by the Landlord. If the Tenant elects to purchase the insurance directly, it shall obtain the Landlord’s consent as to the amount and nature of the insurance. The Tenant shall name the Landlord as an additional insured. (c) It is acknowledged by the parties hereto that the late payment by Tenant to Landlord of Basic Rent, Additional Rent, or any other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing, clerical and accounting charges, lost interest, and late charges which may be imposed by Landlord by the terms of any mortgage encumbering Premises. Therefore, in the event Tenant should fail to pay any installment of Basic Rent, Additional Rent, or any sum due hereunder punctually on the due date thereof, Tenant shall be paid pay to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose Landlord as an additional monthly charge a late charge of fee each month equal to five percent (5%) of the amount due each such installment of Basic Rent, Additional Rent, or other sum, or twenty-five dollars ($100, 25.00) whichever is greater, . The late fee shall be due for any each month that a monthly rent payment not received on the date dueremains unpaid. In addition, all amounts Tenant shall pay to Landlord thirty dollars ($30.00) for each check presented to Landlord in payment of any obligations hereunder which are not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for bank upon which such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultcheck is drawn.

Appears in 1 contract

Samples: Lease (Knology Inc)

Rent. (a) Commencing Tenant will pay the annual base rent as shown in Exhibit "D" (which in turn is subject to Rider #2) in equal monthly installments in advance beginning on the Rent Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand Date and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance thereafter on the first day of each month during the term, prorated for any portion of a month. All The term "rent" includes base rent, additional rent and all other rent (including Additional Rent) shall amounts to be paid by Tenant under this Lease, whether or not specifically described as rent. Subject to Sublandlord within ten Subsection (10b) days after Sublandlord’s below, all rent due under this Lease will be paid without demand, deduction, counterclaim or offset of any type in lawful U.S. legal tender at 0000 Xxxxxxxxx Xxxxxx, Xxxxx 0000, Xx Xxxxxxx, XX 00000-0000, Attn: Accounting Dept., or to such other person or place as Landlord may from time to time designate by written demand therefornotice pursuant to this Lease. Sublandlord may impose Tenant will pay the first month's base rent when it executes this Lease. (b) If and for so long as there is a late charge mortgage loan encumbering the Premises or a loan that is secured by the Letter of five percent (5%) Credit, at the written request of Landlord or Tenant, Landlord and Tenant will establish a collection account for the receipt and disbursement of base rent. In such event, Tenant will pay the base rent as and when required each month into this collection account, and the collection agent promptly will disburse from such amount an amount sufficient to pay debt service and any other amounts owed to the mortgage lender and/or the lender of the amount due or $100loan secured by the letter of credit, whichever is greaterwith the balance being disbursed to Landlord. The collection agent and the terms of this collection account will be subject to the mutual written approval of Landlord and Tenant, for any rent payment not received which approval will be based on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment customary terms for such month agreement and will not be unreasonably withheld or delayed. The parties agree to the Bank of America or the Bank of Boston as a Default by Subtenantcollection agent, and shall be entitled to any and all remedies for such Defaulta collection agreement in form substantially similar to the one attached as Exhibit "B-1."

Appears in 1 contract

Samples: Lease (Navisite Inc)

Rent. (a) Commencing on The basic rent upon the Commencement Date, Subtenant shall pay monthly base full service gross rent commencement of the Sublease (the Monthly Base Basic Rent”) due hereunder from Subtenant to Sublandlord during shall be One Hundred and Nine Thousand, One Hundred and Sixty Five Dollars ($109,165) per annum, payable in equal monthly installments of Nine Thousand and Ninety Seven Dollars and Ten Cents ($9,097.08), each such installment being payable in advance on or before the term first day of this Subleaseeach calendar month throughout the Term. In the event the Term of the Sublease starts other than on the first day of a month, without offsetthe Basic Rent for such partial month shall be prorated and calculated at a daily rate. On the first anniversary of the Sublease Commencement Date and continuing on each anniversary thereafter, deduction or abatement, which Monthly Base Subtenant’s Basic Rent shall be in the amount of Sixty-Five Thousand increased by four and No/100 Dollars one half percent ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease 4.5%) There shall be prorated on no other escalations or pass-throughs to Subtenant during the basis of a 30-day monthSublease Term. (b) In addition to Monthly Base RentBasic Rent shall include, and Subtenant is shall not be separately responsible for for, the payment of the following: (i) the Parking Charges Additional Rent (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions 3 of the Subtenant; and (ivLease) any actual and direct or other operating expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations or real estate taxes due under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001Lease. (c) All rent due and payable by Subtenant under this Sublease shall be made payable to Sublandlord and shall be delivered to its offices or to such other place as Sublandlord may designate by written notice to Subtenant. All such rent shall be payable without notice, demand, deduction, counterclaim or offset. Notwithstanding Subtenant’s obligation any provision of this Sublease, Sublandlord shall continue to pay Additional Rent, Sublandlord to Landlord all rent as and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses when due under the Master LeaseLease (including, without limitation, all rent under the Lease for the Sublet Premises). (d) Monthly Base RentNotwithstanding anything herein to the contrary, Additional Rent in the event of a default by Sublandlord under the Lease, Sublandlord hereby irrevocably authorizes and directs Subtenant to pay to Landlord, upon demand and notice from Landlord of the right to receive such rent and other amounts, all of the rent and other costs amounts payable and expenses hereafter becoming payable hereunder by under this Sublease. Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments rely upon such demand and notice, and Sublandlord shall be have no right or claim against Subtenant for any such rent and other amounts paid to Sublandlord on a monthly basis and are due and payable in advance on the first day Landlord pursuant thereto. In no event shall Landlord be obligated to make such demand for direct payment of each month. All other such amounts from Subtenant. (e) If Subtenant fails to pay rent hereunder within five (including Additional Rent) shall be paid to Sublandlord within ten (105) days after Sublandlord’s written demand therefor. such rent becomes due and payable, Subtenant shall pay to Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date dueof such overdue rent. In addition, all amounts not paid by Subtenant when due any such late rent payment shall bear interest from the date such rent became due and payable to the date of payment thereof by Subtenant at the rate of ten percent 5% per annum. (10%f) per annum until paidSimultaneously with the execution of this Sublease, Subtenant shall deposit with Sublandlord, in the form of cash, a security deposit in the amount of $9,097.08 (the “Security Deposit”), which shall be held by Sublandlord without obligation for interest, as security, for the performance of Subtenant’s obligations and covenants under this Sublease. As It is expressly understood and agreed that such deposit is not an advance rental deposit or a cumulative and non-exclusive remedymeasure of Sublandlord’s damages in case of an event of default by Subtenant. If an event of default by Subtenant shall occur or if Subtenant fails to surrender the Sublet Premises in the condition required by this Sublease, Sublandlord shall have the right (but not the obligation), and without prejudice to any other remedy which Sublandlord may also treat failure have on account thereof, to pay on apply all or any portion of the Security Deposit to cure such default or to remedy the condition of the Sublet Premises. If Sublandlord so applies the Security Deposit or any portion thereof before the expiration date or earlier termination of this Sublease, Subtenant shall deposit with Sublandlord, upon demand, the amount necessary to restore the Security Deposit to its original amount. Although the Security Deposit shall be deemed the property of Sublandlord, any remaining balance of the Security Deposit shall be returned to Subtenant within thirty (30) days after the Expiration Date or earlier termination of this Sublease that all of Subtenant’s obligations under this Sublease have been fulfilled. Sublandlord shall conduct a “Post Move Out Inspection” of the Sublet Premises within fifteen (15) days after the Expiration Date or earlier termination of this Sublease. Notwithstanding anything herein to the contrary, Landlord shall not be responsible in any way for maintaining, returning or applying the Security Deposit hereunder and Subtenant expressly waives any claims against Landlord regarding the Security Deposit. (g) To assist Subtenant with offsetting relocation, construction and other related expenses, Sublandlord will fully axxxx the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenanttwo (2) months rent; therefore, and shall be entitled to any and all remedies for such Defaultrent commencement will begin September 1, 2005.

Appears in 1 contract

Samples: Sublease Agreement (Global Secure Corp.)

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent to Sublandlord, throughout the Sublease Term, 57.33% of the "Fixed Rent" per annum provided to be paid with respect to the Additional Space pursuant to the Amendment (“Monthly the "Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly "). The Base Rent shall be payable by Subtenant to Sublandlord, in advance, in equal consecutive monthly installments which are due and payable on or before the amount date that is five (5) business days preceding the first day of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial each calendar month at during the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day monthTerm. (b) In addition Subtenant shall also pay to Monthly Base Sublandlord, throughout the Sublease Term as additional rent ("Additional Rent"), Subtenant all additional rent and other charges due under the Lease which is responsible for attributable to the payment of Subleased Premises. The additional rent and other charges which is attributable to the following: Subleased Premises shall be (i) 57.33% of the Parking Charges (as defined amounts set forth in Section 14the Amendment, below), and (ii) to the actual expenses incurred extent not set forth in the Amendment shall be determined by dividing the total payments payable by Sublandlord under the Lease by the rentable square feet of the Premises and multiplying the quotient by the number of rentable square feet in the Subleased Premises. Subtenant shall be responsible for both any estimated payments of Additional Rent and any reconciliation payments of Additional Rent which are payable by Sublandlord pursuant to the Lease. Appropriate prorations shall be made with respect to any partial calendar years included in the Sublease Term. Sublandlord shall notify Subtenant of any such estimated amounts and any reconciliation amounts promptly upon Sublandlord's receipt of notice from Landlord of the amounts due with respect to the entire Premises. Subtenant shall make all Additional Rent payments to Sublandlord upon demand. (c) Subtenant shall be solely responsible for any additional services requested by Subtenant that are costs or charges attributable to be provided by Master Landlord (i.e.the Subleased Premises during the Sublease Term for items such as damage repair, if Subtenant requests the use of after-hours HVAC, such extra or after-hours HVAC charges service, extra janitorial services, excess electrical consumption, light bulb replacement and assessments which are charged by Master Landlord the like. Subtenant shall also pay any and all tax due with respect to Sublandlord shall be payable to Sublandlord by Subtenant); Rent (iiias such term is hereinafter defined) any charges permitted by and pursuant to the Sublease or the Master Lease as a result laws of actions or omissions of the SubtenantNew York and/or any political subdivision thereof; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectivelyprovided, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenanthowever, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate the payment of Operating Expenses under any tax levied on Sublandlord that is in the Master Leasenature of an income tax. (d) Monthly The Base Rent, Additional Rent and all other costs and expenses payable hereunder charges due by Subtenant shall be under subparagraph (c) of this Article "3" are collectively referred to collectively in this Sublease as “rent"Rent".” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Sublease Agreement (Modem Media Poppe Tyson Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (awhich shall be applied against the Rent payable for the first month(s) Commencing on Tenant is required to pay Rent), the Commencement DateSecurity Deposit, Subtenant shall and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. --------- Tenant agrees to pay monthly base full service gross rent (“Monthly Landlord the Base Rent”) to Sublandlord during the term of this Sublease, without prior notice or demand, abatement, offset, deduction or abatementclaim, which Monthly Base Rent shall be in advance at Landlord's Address on the amount Commencement Date and thereafter on the first (1st) day of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial each month at throughout the beginning or the end balance of the term Term of this Sublease shall be prorated on the basis of a 30-day month. (b) Lease. In addition to Monthly the Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Tenant shall pay Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the Commencement Date and thereafter 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, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time (that is, the above-referenced pre-Commencement Date occupancy or similar "free rent" period, if any), the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent; provided, during the pre- Commencement Date occupancy, Tenant's obligation to pay such Additional Rent shall not exceed the maximum amount of 20/100 Dollars ($0.20) per rentable square foot of the Premises per month. All other rent The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (including Additional Rent30) day month. The prorated Rent shall be paid to Sublandlord within ten on the Commencement Date and the first (101st) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) day of the amount due or $100, whichever is greater, for any rent payment not received on calendar month in which the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultexpiration or termination occurs.

Appears in 1 contract

Samples: Lease Agreement (Loudcloud Inc)

Rent. 3.1 Tenant shall pay to Landlord the following amounts as rent for the Premises: (a) Commencing on During the Commencement DateTerm, Subtenant Tenant shall pay to Landlord, as base monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Subleaserent, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars monthly rent specified in the Basic Lease Information ($65,000.00the "Base Rent"). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition During the Term of this Lease, Tenant shall pay to Monthly Base RentLandlord, Subtenant is responsible for the payment of the following: (i) the Parking Charges as additional monthly rent, Tenant's Percentage Share (as defined in Section 14, below), hereinafter defined) of all Operating Expenses (iias hereinafter defined) the actual expenses paid or incurred by Sublandlord for any additional services requested Landlord during the Term and Xxxxxx's Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests during the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease Term as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable more particularly described in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001Article 4 below. (c) Notwithstanding Subtenant’s obligation Throughout the Term of this Lease, Tenant shall pay, as additional rent, all other amounts of money and charges required to pay Additional Rentbe paid by Tenant under this Lease, Sublandlord whether or not such amounts of money or charges are designated "additional rent." As used in this Lease, "rent" shall mean and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly include all Base Rent, Additional additional monthly rent and additional rent payable by Tenant in accordance with this Lease. Landlord will have the same remedies for a default in the payment of additional rent as for a default in the payment of Base Rent. 3.2 Tenant shall pay all Base Rent and all other costs and expenses payable hereunder by Subtenant shall be referred additional monthly rent under Section 3.1 above to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord Landlord, in advance, on a monthly basis and are due and payable in advance on or before the first day of each month. All other rent (including Additional Rent) and every calendar month during the Term of this Lease, provided that the installment of Base Rent for the first full calendar month of the Term, and the first monthly installment of additional monthly rent, shall be paid payable upon the execution of this Lease by Tenant. Tenant shall pay all rent to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) Landlord without notice, demand, deduction or offset, in lawful money of the amount due or $100United States of America, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate address of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedyLandlord specified in the Basic Lease Information, Sublandlord or to such other person or at such other place as Landlord may also treat failure from time to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaulttime designate in writing.

Appears in 1 contract

Samples: Office Lease (Aptimus Inc)

Rent. The Sublessee covenants and agrees to pay to the Sublessor, or as the Sublessor may in writing direct, in lawful money of Canada, without any claim, setoff, compensation or deduction whatsoever, the aggregate of the following sums: (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning ) being rent in respect of each year or the end part of a year of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (Term as defined set out in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due Schedule C and payable in advance on the first day date of each month. All other rent this Sublease; and (including b) Additional Rent) , which shall be paid payable as and when required pursuant to Sublandlord within ten (10) days after Sublandlord’s written demand thereforthe terms and conditions of this Sublease. Sublandlord may impose a late charge of five percent (5%) The Sublessor has been advised by its legal counsel that the sublease of the amount due Leased Premises is not subject to Harmonized Sales Tax (“HST”) or $100the proposed Goods and Services Tax (“GST”) (herein “GST/HST”). If it is determined that the disposition by the Sublessor to the Sublessee of the sublease interest in the Leased Premises is subject to GST/HST, whichever is greaterthe Lessor will pay the GST/HST provided that the Sublessee promptly executes and returns, for any rent payment not received on at no cost to the date due. In additionSublessor, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies documents required by the Sublessor, to assign and transfer to the Sublessor any New Housing Rebate that might apply in respect of the sublease of the Leased Premises. The Sublessee hereby irrevocably assigns and transfers to the Sublessor any New Housing Rebate, or refund, or reduction of GST/HST to which Sublessee may be entitled, and authorizes the Sublessor and its agents to apply for and collect any such Defaultrebate, refund or reduction. The Sublessor irrevocably appoints the Sublessee and the Sublessee’s authorized signatories as attorney of the Sublessee to execute, on behalf of the Sublessee, all such documents. If it is determined that the Sublessee’s use of the Leased Premises results in Rent being subject to GST/HST, the Sublessee will pay to the Sublessor such GST/HST amounts, when due, as Additional Rent. Any purported set off, withholding or deduction of Rent by the Sublessee shall be deemed to be a breach of this Sublease, and entitle the Sublessor, at its option, to exercise any right or remedy available to it pursuant to this Sublease or at law. The Sublessee will have no right to a refund of, and the Sublessor will not be liable to the Sublessee for refunding, any Rent in the event of the termination of this Sublease.

Appears in 1 contract

Samples: Sublease Agreement

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross to Sublandlord rent (“Monthly Base Fixed Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or rate of $362,180.00 per annum from the end Commencement Date through the Expiration Date, payable in advance in equal monthly installments of the term of this Sublease shall be prorated on the basis of a 30-day month$30,181.67. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment installments of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Fixed Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance in equal monthly installments on the first day of each month of the Term. If the Commencement Date shall not be the first day of a month, Fixed Rent shall be prorated on a per diem basis. All The installment of Fixed Rent for the calendar month in which the Expiration Date occurs shall be prorated on a per diem basis if the Expiration Date does not occur on the last day of the month. (c) Fixed Rent and all other amounts (“Additional Rent;” together with Fixed Rent, collectively “Rent” or “rent”) payable by Subtenant to Sublandlord under the provisions of this Sublease shall be paid promptly when due, without notice or demand therefor, and without deduction, abatement, counterclaim or setoff. Fixed Rent and Additional Rent shall be paid to Sublandlord in lawful money of the United States at the office of Sublandlord or such other place (or by wire) as Sublandlord may designate from time to time. No payment by Subtenant or receipt by Sublandlord of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the earliest stipulated Fixed Rent or Additional Rent; nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction, and Sublandlord may accept any check or payment without prejudice to Sublandlord’s right to recover the balance due or to pursue any other remedy available to Sublandlord. Any provisions in the Prime Lease incorporated herein by reference (whether capitalized or lower case) referring to “fixed rent,” “annual rent,” “base rent,” “rent,” ,”additional rent,” “escalations,” “payments” or “charges” or words of similar import shall be deemed to refer to Fixed Rent and Additional Rent due under this Sublease. (d) Notwithstanding anything to the contrary contained herein, so long as (i) Subtenant shall not be in default hereunder and (ii) Prime Landlord has waived $30,181.67 of the fixed annual rent under the Prime Lease pursuant to Section 4(a) of the First Amendment, the Fixed Rent payable by Subtenant hereunder (including but not any Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) abated for the first month of the Term in the amount of $30,181.67. Subtenant acknowledges that if this Sublease shall terminate due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid to a default by Subtenant when due hereunder or if this Sublease shall bear interest at be rejected in the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day case of a month bankruptcy, the Monthly Base foregoing abated Fixed Rent payment for such month as a Default by Subtenant, and shall be entitled to any immediately due and all remedies for such Defaultpayable.

Appears in 1 contract

Samples: Sublease (Sema4 Holdings Corp.)

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly base full service gross to Sublandlord rent (“Monthly Base Fixed Rent”) to Sublandlord during the term of this Sublease$322,715.00 per annum, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission equal advance monthly installments of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance $26,892.92 on the first day of each month during the Sublease Term (except as expressly provided otherwise in this Sublease) without prior demand, offset or deduction. The Fixed Rent does not include electricity charges, i.e., the “ERI Sum” described in the Lease, hereinafter called the “Fixed Electricity Charge”, which shall be paid by Subtenant at the rate of $11,040.25 per year ($920.02 per month) in advance monthly installments on the first day of each month in the Sublease Term without prior demand, offset or deduction, except as otherwise provided in Section 9(b) below. All other The Fixed Rent is subject to increases as provided in Section 9(d) below. (b) The first monthly installment of Fixed Rent in the sum of $26,892.92 plus $920.02 for one month of the Fixed Electricity Charge shall be paid on the execution of this Sublease by Subtenant in the total sum of $27,812.94 (the “Prepaid Rent”) and applied to first rents coming due under this Sublease. If the Sublease Commencement Date shall not be the first day of a month, then, once the Sublease Commencement Date is known, the Pre-Paid Rent for such partial month shall be prorated on a per diem basis, and any excess amount paid on the execution of this Sublease shall be credited to the next rents coming due under this Sublease. (c) If Subtenant is not in default under this Sublease and it remains in full force and effect, Subtenant shall be entitled to a rent abatement in the total sum of $53,785.83 (including Additional the “Initial Abatement”) which will be applied in reduction of Subtenant’s rental obligation coming due under this Sublease immediately following the application of the Prepaid Rent) . If this Sublease shall be terminated for Subtenant’s default, any portion of the Initial Abatement previously issued to Subtenant shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) as Additional Rent and any portion of the amount due or $100Initial Abatement not previously issued shall be waived by Subtenant. (d) As used herein, whichever is greater“Sublease Year” means successive twelve (12) calendar month periods, for any rent payment not received on with the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent first (10%1st) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure Sublease Year to pay begin on the first day of a the month in which the Monthly Base Sublease Commencement Date occurs. On the first day of the second (2nd) Sublease Year, the Fixed Rent payment for such month as a Default shall be multiplied by Subtenantone hundred three percent (103%) to equal $332,396.45 per year ($27,699.70 per month). On the first day of the third (3rd) Sublease Year, and on the first day of each Sublease Year thereafter during the Sublease Term, the Fixed Rent (as previously increased under this paragraph) shall be entitled to any multiplied by one hundred three percent (103%). The cumulative compounded annual three percent (3%) increases in Fixed Rent described in this paragraph are in lieu of the tax and all remedies for such Default.operating expense escalation charges set forth in Articles 37 and 38 of the Lease. The foregoing provisions of this paragraph are illustrated in the chart below:

Appears in 1 contract

Samples: Sublease Agreement (SQL Technologies Corp.)

Rent. (a) Commencing a. Except as otherwise expressly provided in this Sublease, commencing on and as of the Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during and continuing throughout the term of this Sublease, Subtenant shall pay to Tenant, as rent, base rent (the "BASE RENT") in accordance with the schedule set forth below as part of this subsection. Unless Tenant instructs Subtenant otherwise in writing, Subtenant shall make such payments in advance on or before the first (1st) day of the month. Subtenant shall make such payments without offsetnotice, deduction or demand, abatement, which Monthly deduction, counterclaim, or setoff. BASE RENT SCHEDULE Notwithstanding the foregoing, Subtenant shall be entitled to an abatement of Base Rent for sixty (60) days following the Commencement Date. b. Electrical service supplied to the Premises for normal office usage is included as part of Base Rent. In the event Subtenant shall be use electricity in excess of normal office usage, as reasonably determined by Tenant, Subtenant shall pay to Tenant the cost of such excess service within thirty (30) days after Tenant has delivered to Subtenant an invoice therefor. As used in this subsection 5(b), "normal office usage" shall mean usage of electricity by Subtenant as the same occupant density as in Tenant's Premises and for office operations and equipment substantially similar to Tenant's office operations and equipment. Tenant may determine the amount of Sixty-Five Thousand such additional consumption by a survey of standard or average tenant usage of electricity in the Tenant's Premises performed by a reputable consultant selected by Tenant and No/100 Dollars ($65,000.00). Monthly reasonably approved and paid for by Subtenant. c. Under this Sublease, payments of Base Rent for any partial month at the beginning or the end constitute payments of the term of rent. Any other payments that are required to be paid by Subtenant to Tenant under this Sublease shall be prorated deemed to be additional rent payable hereunder by Subtenant to Tenant, and shall, unless otherwise expressly provided in this Sublease, be due and payable on the basis later to occur of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: that date (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within is ten (10) days after submission Subtenant's receipt of a written an invoice therefor from Tenant, or (ii) on which the next payment by Sublandlord Subtenant of Base Rent is due. d. The late payment provisions of the Main Lease shall apply to Subtenant, any payments that are deemed hereunder to be rent and such obligations that arrive later than the last day on which rent may be paid by Tenant under the Main Lease without incurring a late payment penalty or other charge of any kind under the Main Lease. e. Base Rent for the first month of the term shall survive the expiration or earlier termination be paid upon execution of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment If the term of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all this Sublease begins or ends on any day other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on than the first day of a calendar month, then all amounts to be paid by Subtenant to Tenant under this Sublease for the resulting fractions of a full calendar month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled prorated on a per diem basis. f. Except as otherwise expressly provided in this Sublease, all payments to any be made by Subtenant pursuant to this Sublease shall be made to Tenant in United States legal tender and all remedies for such Defaultaddressed to Liberty Mutual Insurance Company, Attn: Senior Manager, Financial Analysis, Corporate Real Estate, Mail Stop 01F, 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000.

Appears in 1 contract

Samples: Sublease Agreement (Clayton Holdings Inc)

Rent. (a) Commencing The Rent (specified in Section 1.1 hereof) and any additional rent or other charges payable pursuant to this Lease shall be payable by Sublessee to Sublessor by mailing such rent payment to Genzyme Corporation, P.O. Xxx 0000, Xxxxxx, Xxxxxxxxxxxxx 00000-0000 (xx such other place as Sublessor may from time to time designate by notice to Sublessee). (b) Rent shall be payable in advance on the Commencement Date, Subtenant shall pay monthly base full service gross rent first (“Monthly Base Rent”1st) to Sublandlord day of each and every calendar month during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars . ($65,000.00). Monthly Base c) Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated paid by Sublessee to Sublessor at such rate on the basis of a 30-day month. (b) In addition to Monthly Base Rentprorata basis. Other charges payable by Sublessee on a monthly basis, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14hereinafter provided, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to shall likewise be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Leaseprorated. (d) Monthly Base Rent, Additional All Rent and all other costs and expenses payable hereunder by Subtenant amounts due under this Sublease shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each monthmade without demand, offset or deduction. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and Sublessee shall be entitled to a fair and equitable share of all abatements of rent and rent adjustments set forth in the Prime Lease which Sublessor has been granted with respect to the Premises. (e) Sublessee represents and Sublessor acknowledges that, as of the Commencement Date and for the period of approximately six months thereafter, Sublessee expects to use the approximately 2,638 rentable square foot portion of the Premises identified on Exhibit A as the "Expansion Space" for only limited purposes. Accordingly, Sublessor hereby agrees that Sublessee shall have no obligation to pay any rent with respect to the Expansion Space until May 1, 1997. From and all remedies after May 1, 1997, however, full rent shall be due and payable with respect to the Expansion Space. Sublessor shall provide Sublessee with such "free rent" for such Defaultthe Expansion Space by applying to Sublessee's rental account for each month that Sublessee qualifies for free rent, a credit in the amount of $8,353.67. (f) It is the intention of the parties that Rent payable by Sublessee under this Sublease shall be a "gross rent" that includes amounts on account of base rent, utilities, operating expenses and real estate taxes payable by Sublessee to Sublessor; i.

Appears in 1 contract

Samples: Sublease (Dyax Corp)

Rent. (a) Commencing Subject to subsection (c) below, commencing on and after the Commencement Date, Subtenant Lessee shall pay monthly base full service gross rent Lessor all monetary obligations of Lessor under each Prime Lease for its respective Property (“Monthly Base Rent”) to Sublandlord during the term of this Subleaseincluding, without offsetlimitation, deduction base, fixed or abatementminimum rent, which Monthly Base Rent shall be in percentage rent, additional rent, common area maintenance charges, real estate taxes and assessments, insurance charges, waste removal charges, merchants association dues, marketing, advertising and other promotional fund contributions, utility charges, HVAC and chilled water charges) (collectively, the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00"Property Rent"). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition Commencing on and after the Commencement Date, Lessee shall pay directly to Monthly Base RentLessor, Subtenant is responsible at Lessor's office at the address designated for the payment of the following: (i) the Parking Charges (as defined notices to Lessor in Section 1411(a) hereof, below), (ii) the actual expenses incurred all other amounts payable by Sublandlord for any additional services requested by Subtenant Lessee that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease arise as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations an independent obligation under this Sublease (collectively, “the "Additional Rent", together with the Property Rent, the "Rent"). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001. (c) Notwithstanding Subtenant’s obligation Lessor and Lessee agree to cooperate, and to take all reasonably necessary or desirable actions possible, to arrange for all payments by Lessee of the Property Rent with respect to each Property directly to Prime Landlord with respect to such Property, and, with respect to each Property, to otherwise establish a direct relationship between Prime Landlord and Lessee with respect to all matters arising under the Prime Lease with respect to such Property and this Sublease with respect to such Property. All Property Rent with respect to any Property shall be paid in lawful money of the United States to Prime Landlord with respect to such Property (or, if such Prime Landlord will not agree to such arrangement, then to Lessor at Lessor's office at the address designated for notices to Lessor in Section 11(a) hereof in immediately available funds at least two (2) Business Days prior to the date when such Property Rent is due and payable under such Prime Lease), or at such other place as either Prime Landlord or Lessor may designate, as the case may be, by notice to Lessee. Lessor and Lessee agree that it is the intention of Lessor and Lessee to pass all of Lessor's obligations for Property Rent incurred under the Prime Lease with respect to each Property to Lessee, and Lessee agrees to pay Additional Rentor otherwise reimburse Lessor for all of Lessor's obligations for Property Rent incurred with respect to each Prime Leases and each Property. If a Prime Landlord will not accept a direct payment from Lessee of Property Rent under the respective Prime Lease, Sublandlord then, provided Lessee shall have delivered such Property Rent payment to Lessor within the time and Subtenant hereby acknowledge and agree that Subtenant in the manner specified in this subsection (c), Lessor shall not be responsible for separate deliver such payment of Operating Expenses Property Rent to such Prime Landlord on or prior to the date when such Property Rent is due and payable under such Prime Lease and in such manner as provided under the Master respective Prime Lease. (d) Monthly Base Rent, Additional Rent All obligations of Lessee and all other costs and expenses payable hereunder by Subtenant Lessor under this Section 4 shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on survive the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) termination of the amount due Prime Leases or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultthis Sublease.

Appears in 1 contract

Samples: Master Sublease (Charming Shoppes Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (a) Commencing on which shall be applied against the Commencement Date, Subtenant shall Rent payable for the first month Tenant is required to pay monthly base full service gross rent (“Monthly Base Rent”) ), the Security Deposit, the Cleaning Deposit, and all insurance certificates evidencing the insurance required to Sublandlord during the term be obtained by Tenant under Section 12 of this SubleaseLease. Tenaxx xxxees to pay Landlord, without prior notice or demand, or abatement, offset, deduction or abatementclaim, which Monthly the Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated described on the basis of a 30-day month. (b) In addition to Monthly Base RentPage 1, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance at Landlord's address shown on Page 1 on the first day of each month throughout the term of the Lease. In addition to the Base Rent set forth on Page 1, Tenant shall pay Landlord in advance and on the first (1st) day of each month throughout the term of this Lease (including any extensions of such term), as Additional Rent Tenant's share, as set forth on Page 1, of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses, and Administrative Expenses all in the manner as specified in Sections 6.1, 6.2, 6.3, 6.4 and 7 of this Lease, respectively. Additionally, Tenant shall pay to Landlord as Additional Rent hereunder, immediately on Landlord's demand therefor, any and all costs and expenses incurred by Landlord to enforce the provisions of this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Premises by Tenaxx, xxsts associated with the delivery of notices, delivery and recordation of notice(s) of default, attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to waiver of the Base Rent and Tenant shall otherwise perform all other obligations of Tenant hereunder, including, but not limited to paying to Landlord any and all amounts considered additional rent, such as Tenant's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses, and Administrative Expenses. If, at any time, Tenant is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Landlord of Tenant's requirement to pay rental payments shall be null and void and Tenant shall immediately pay to Landlord all rental payments waived by Landlord. The Rent for any fractional part of a calendar month at the commencement or termination of the Lease term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. All other rent (including Additional Rent) The prorated Rent shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative Commencement Date and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a the calendar month in which the Monthly Base Rent payment for such month date of termination occurs, as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultthe case may be.

Appears in 1 contract

Samples: Lease Agreement (Ameriquest Technologies Inc)

Rent. (a) Commencing 4.1 The rent payable by Subtenant for the Sublease Premises shall consist of the Base Rent under Section 4.2, Additional Rent as described in Section 4.3 and Other Charges under Section 4.4. Base Rent, Subtenant's Share of Direct Expenses, Other Charges and any other sums payable by Subtenant under this Sublease are collectively referred to as “Rent”. Subtenant's covenant to pay Rent shall be independent of every other covenant in this Sublease. Subtenant shall make all payments due to Sublandlord pursuant to this Sublease as follows: check, wire, or other form of payment specified in writing by Sublandlord from time to time. 4.2 Beginning on the Sublease Commencement DateDate (subject to Section 1.7) and continuing thereafter on the first day of each calendar month during the Sublease Term, Subtenant shall pay to Sublandlord in advance, and without notice, demand, deduction or offset, the monthly base Base Rent specified in Section 1.7 above in lawful money of the United States of America. If the Sublease Commencement Date is a day other than the first day of a calendar month or the Expiration Date is a day other than the last day of a calendar month, the Base Rent for such month will be prorated, based on a thirty (30) day month. Any pre-payments of rent for that first month shall be applied to the partial month in which the Sublease Commencement Date occurs, and then to the calendar month immediately following any period of abatement. Subtenant shall deliver in advance the first full service gross month of Base Rent to Sublandlord together with Subtenant's executed counterpart of this Sublease. 4.3 In addition to monthly Base Rent, as additional rent (“Monthly Base Additional Rent”) Subtenant shall be responsible for paying to Sublandlord Subtenant's Share of any Operating Expenses and Tax Expenses (collectively, “Direct Expenses”) as such terms are defined in the Master Lease, payable by Sublandlord under the Master Lease during the term Sublease Term, to reimburse Master Landlord for taxes, insurance, operating expenses, common area maintenance charges, management fees, capital expenditures for required repairs or improvements and/or other expenses included in Direct Expenses. In the event that Sublandlord has collected more than an equitable share of this Subleasesuch expenses from Subtenant and Other Occupants, Subtenant shall be reimbursed or credited an equitable share of the same. Sublandlord will use commercially reasonable efforts to pass through to Subtenant in a timely manner any statement or estimate of Direct Expenses received from Master Landlord. To the extent Direct Expenses are payable on a monthly estimated basis under the Master Lease, the Additional Rent in respect thereto shall be paid as and when Base Rent is due based upon Master Landlord s estimates; and upon any reconciliation of estimated and actual Direct Expenses (including without offsetlimitation any credits against Sublandlord's rental obligations under the Master Lease), deduction or abatement, which Monthly Base the corresponding Additional Rent shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement under the Master Lease. For purposes of calculating Additional Rent, Sublandlord shall be entitled to rely conclusively on Master Landlord s determination of estimated and actual Direct Expenses; provided, however, that if any adjustment of Additional Rent paid under the Master Lease results in a payment or credit to Sublandlord under the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent Master Lease for any partial month at the beginning or the end period of the term Sublease Term, such payment or credit shall be paid over or credited to Subtenant following receipt or credit to Sublandlord. The expiration or earlier termination of this Sublease shall not affect the obligations of Sublandlord or Subtenant pursuant to this Section 4.3, and such obligations shall survive, remain to be prorated on the basis performed after, any expiration or earlier termination of a 30-day monththis Sublease. (b) In addition to Monthly Base Rent4.4 Throughout the Sublease Term, Subtenant is responsible for the payment of the following: also shall pay within fifteen (15) days after written notice from Sublandlord (i) any other fees, charges or other sums due under the Parking Charges (as defined Master Lease in Section 14, below)connection with Subtenant's particular use and occupancy of the Sublease Premises, (ii) Subtenant's Share of the actual expenses incurred reasonable maintenance and repair (but not replacement) costs of the Shared Areas, provided damage to the Shared Area caused by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord Subtenant's misuse shall be payable to Sublandlord by solely at Subtenant); 's cost, (iii) any charges permitted by costs related to Utilities (defined in Section 6.1 below) and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; Janitorial (defined in Section 6.2 below), and (iv) any actual gross receipts or rent tax respecting this Sublease, or any taxes assessed upon or with respect to the possession, leasing, operating, management, maintenance, alteration, repair, use or occupancy by Subtenant of the Subleased Premises or any portion of the Project (collectively, “Other Charges”). By way of illustration and direct not limitation, Other Charges include: (a) excess or after hours electrical service or heating, ventilating or air conditioning service supplied to the Sublease Premises at Subtenant's request; (b) services or benefits supplied to the Sublease Premises at Subtenant's request (or with Subtenant's acquiescence) for which Master Landlord reserves any right to impose a fee or charge separate from the Direct Expense Pass- Throughs; (c) to reimburse Master Landlord for taxes on personal property, equipment and fixtures located in or about the Sublease Premises during the Sublease Term; (d) to pay for any damage to the Building to the extent resulting from the act or omission of Subtenant or Subtenant's officers, employees, architects, engineers, contractors or other licensees, guests, visitors or other invitees, sub-subtenants, successors or assigns (collectively, the “Subtenant Parties”); and (e) for damages or other sums recoverable under the Master Lease to the extent the same is the result of any acts, omissions, or negligence by Subtenant its agents, employees, or contractors, or failure of performance or Default by Subtenant under this Sublease. 4.5 All Rent shall be paid to Sublandlord at the address set forth in Section 1.11, or to such other person or such other place as Sublandlord may from time to time designate in writing. If any Rent is not paid within five (5) days of when due, Subtenant acknowledges that Sublandlord will incur additional administrative expenses and costs which are difficult or economically impractical to ascertain. Subtenant shall pay (i) an administrative charge to Sublandlord incurs equal to [***], (ii) any attorneys fees reasonably incurred by Sublandlord by reason of Subtenant’s non-performance 's failure to pay Rent and/or Other Charges when due hereunder, and (iii) interest at the Interest Rate (defined in Section 14.4), until fully paid. Neither demand for nor receipt of its obligations any late charge called for under this Sublease shall (collectively, “Additional Rent”). All such amounts shall be payable in full i) operate to waive any default by Subtenant as directed by or provide a substitute for Subtenant's full and timely performance of the obligation to pay Rent, or (ii) limit the exercise of any other right or remedy Sublandlord may have under this Sublease in case of Subtenant's default. In addition to the late charge described above, any Rent or other amounts owing hereunder which are not paid within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when they are due shall bear interest from the date when due until paid at the a rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedyequal to the lesser of (i) the annual Bank Prime Loan rate cited in the Federal Reserve Statistical Release Publication G.13(415), Sublandlord may also treat failure to pay published on the first day Tuesday of each calendar month (or such other comparable index as Sublandlord and Subtenant shall reasonably agree upon if such rate ceases to be published) plus [***], and (ii) the highest rate permitted by Law. Notwithstanding the foregoing, Sublandlord will waive the imposition of a month late charge and interest for the Monthly Base first late payment of Rent payment for such month as a Default by Subtenantin any one (1) calendar year period, and shall be entitled provided the Rent is paid within five (5) days of notice to any and all remedies for such DefaultSubtenant that the Rent is past due.

Appears in 1 contract

Samples: Sublease (Senti Biosciences, Inc.)

Rent. (The Base Rental and Additional Rental under the Primary Lease is greater than the Base Rental and Additional Rental that is due under this Sublease. The parties agree that it is the Sublessor’s sole responsibly to pay the shortfall in Base Rental and Additional Rental to the Landlord and that Sublessor shall pay such shortfall timely as set forth in the Primary Lease. Sublessee shall not be in default of this Sublease or the Primary Lease as long as it pays direct to the Landlord the Base Rental and Additional Rental that is due for the Subleased Premises under this Sublease. a) Commencing on During the period commencing upon Commencement Date, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of Date and terminating with this Sublease, Sublessee covenants to pay to Landlord, without offsetany demand or notice and without any offset or reduction whatsoever, deduction a Base Rental, payable in advance, as specified in Exhibit C attached hereto. Sublessee shall pay all Base Rental monthly direct to Landlord without notice or abatementdemand to the below address or any other address which the Landlord notifies Sublessee of in writing. Payable to: Sojourn Office, which Monthly Base Rent LLC Attn: Property Manager 0000 Xxxx Xxxxx Xxxx. Xxxxx 000 PMB 26 Xxxx Xxxxx, Xxxxx 00000 b) Sublessee shall be pay Landlord at the address set forth in 4.a) above Additional Rental in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00)any increases in operating expenses over base year 2019. Monthly Base Rent for any partial month at Sublessee’s Additional Rental shall be based on the beginning or the end square footage of the term of this Sublease Subleased Premises. Sublessor or Landlord shall be prorated on deliver direct to Sublessee the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) calculation of the amount due or $100, whichever is greater, for any rent payment not received on Additional Rental using a base year of 2019 and the date duesquare footage of the Subleased Premises in accordance with the Primary Lease. In addition, all amounts not The shortfall of Additional Rental being paid by Subtenant when Sublessee under this Sublease, versus the amount of Additional Rental due shall bear interest at under the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and Primary Lease shall be entitled to any the sole responsibility of Sublessor. c) Non-payment or late payment of monthly rent will be penalized and all remedies for such Defaultenforced in accordance with sections 3.7 and 3.8 of the Primary Lease.

Appears in 1 contract

Samples: Sublease Agreement (JetPay Corp)

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay to Sublandlord as base monthly base full service gross rent ("Base Monthly Base Rent") to Sublandlord during for the term of this Sublease, without offset, deduction or abatement, which Monthly Base Subleased Premises the following: MONTHS RENT/SQ. FT./MO. NNN Commencement Date $71,911.80 through 8/31/98 9/1/98 through 8/31/99 $74,100.42 9/1/99 through 8/31/00 $76,289.04 Rent shall be payable by Subtenant to Sublandlord in consecutive monthly installments on or before the first day of each calendar month during the Sublease Term without deductions, offset, prior notice or demand. If the Commencement Date or the termination date of the Sublease occurs on a date other than the first day or the last day, respectively, of a calendar month, then the Rent for such partial month shall be prorated based on the actual number of days in the amount of Sixty-Five Thousand calendar month and No/100 Dollars ($65,000.00). Monthly Base the prorated Rent for any partial month at shall be payable on the beginning Commencement Date or on the end first day of the term calendar month in which the Sublease termination date occurs, respectively. In addition to Base Monthly Rent, and as additional rent, Subtenant shall pay to Sublandlord all other costs, expenses and other amounts payable by Sublandlord under the Master Lease including, without limitation all amounts payable by Sublandlord pursuant to paragraph 4.D of the Master Lease and all costs of utilities serving the Subleased Premises; provided however, Subtenant shall not be required to pay any additional rent that is payable as a result of a default by Sublandlord of any of its obligations under the Master Lease. All amounts in addition to Base Monthly Rent required to be paid by Subtenant under this Sublease shall be prorated on the basis of a 30-day month. deemed to be rent (b) In addition to Monthly Base "Rent"). Upon execution hereof, Subtenant is responsible for shall deposit with Sublandlord the payment sum of the following: Seventy- One Thousand Nine Hundred Eleven Dollars and Eighty Cents (i$71,911.80) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord amount shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to applied against the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations Base Monthly Rent due under this Sublease (collectivelyfor the first month of the Sublease Term. In consideration of Sublandlord's agreement to enter into this Sublease, “Additional Rent”). All such amounts shall be payable in full by Subtenant and as directed by Sublandlord within additional rent, on or before ten (10) days after submission of a written invoice therefor following the date that this Sublease is fully executed and delivered by Sublandlord to and Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred pay to collectively as “rent.” All Monthly Base Rent payments shall be paid Landlord an amount equal to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five fifty percent (550%) of the amount due or $100, whichever of Basic Rent (as that term is greater, defined in the Master Lease) and Additional Rent (as that term is defined in the Master Lease) that is payable by Sublandlord to Landlord for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate month of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultAugust.

Appears in 1 contract

Samples: Sublease (Pointcast Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant Sublessee shall pay to Sublessor monthly base full service gross rent (“Monthly the "Base Rent") to Sublandlord during in accordance with the term of this Subleasebase rent schedule attached hereto and made a part hereof as Exhibit C (BASE RENT SCHEDULE), without offset, deduction plus any applicable sales or abatement, other tax (other than an income tax) which Monthly may now or hereafter come into effect. The Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month, commencing on ________________________________ (hereafter known as the “Rent Commencement Date”), without notice or demand and without abatement, deduction or offset, and will be sent to _________________________________. All The first month's Base Rent installment (and any other rent (including Additional Rentsum due hereunder as of the Sublease Commencement Date) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand thereforupon the execution of this Sublease. Sublandlord may impose In the event that the Term of this Sublease begins or ends on any day other than the first day of a calendar month, then the rental payments for such periods shall be prorated on a per diem basis. Any installment of Base Rent or Additional Rent which is not paid when due under the terms of this Sublease shall be subject to, at Sublessor's sole option, a late charge of five percent (5%), to be charged as Additional Rent. Furthermore, in the event any payment of Base Rent or Additional Rent due to Sublessor is not received within five (5) of the days following written notice from Sublessor to Sublessee that such payment was not received, such amount due or $100shall, whichever is greaterin addition, for any rent payment not received on bear interest from the date due. In addition, all amounts not due until paid by Subtenant when due shall bear interest at a rate per annum equal to the prime rate of ten published from time to time in the Wall Street Journal plus two percent (102%) per annum until paid). As a cumulative and non-exclusive remedyWhen any provision of this Sublease requires the payment of any sums of money other than Base Rent, Sublandlord may also treat failure to pay on the first day such sums of a month the Monthly Base money shall be deemed Additional Rent payment for such month as a Default by Subtenant(“Additional Rent”), and shall be entitled to any due and all remedies payable as provided for such Defaultin this Sublease, or in the absence of a date, within (10) days following receipt of an invoice from Sublessor.

Appears in 1 contract

Samples: Sublease Agreement

Rent. (a) Commencing 4.1. The rent payable by Subtenant for the Sublease Premises shall consist of the Base Rent under Section 4.2, plus the Pass Through Costs under Section 4.3, plus the Other Charges under Section 4.4. Base Rent, Pass Through Costs, Other Charges and any other sums payable by Subtenant under this Sublease are collectively referred to herein as “Rent”. Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Subtenant shall make all payments due to Sublandlord in immediately available funds, either payable at Sublandlord’s address for notice stated above, or by ACH or wire transfer to an account designated by Sublandlord, at Subtenant’s option. 4.2. Beginning on the Commencement DateDate and continuing thereafter on the first day of each calendar month during the Sublease Term, Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Subleasein advance, and without offsetnotice, demand, deduction or abatementoffset except as otherwise expressly set forth herein, which Monthly the monthly Base Rent shall be specified in Section 1.7. If the amount Commencement Date is a day other than the first day of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly a calendar month, the Base Rent for any partial the month at in which the beginning or Commencement Date occurs will be prorated, based on a thirty (30) day month. Subtenant shall pay the end monthly installment of Rent payable for the first full month of the term Sublease Term concurrent with Subtenant’s execution of this Sublease shall be prorated on the basis of a 30-day monthin accordance with Section 1.7. 4.3. After the first twelve (b12) In addition to Monthly Base Rentmonths of the Sublease Term, Subtenant is responsible for the payment also shall pay an amount equal to Subtenant’s Share of the following: increase in Operating Expenses over calendar year 2013 (i) the Parking Charges (as defined in Section 14“Base Year”); with Operating Expenses to include all Expenses, below)Taxes, (ii) the actual expenses incurred Insurance and other amounts payable by Sublandlord for any additional services requested by Subtenant that are to be provided by as “Additional Rent” under the Master Landlord (i.e.Lease, if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant insofar as applicable to the period encompassed by the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease Term (collectively, “Additional RentPass Through Costs”). All such amounts To the extent Pass Through Costs are payable on a monthly estimated basis, the Additional Rent with respect thereto shall be paid as and when Base Rent is due in an amount based on Master Landlord’s or Sublandlord’s estimates; and upon any reconciliation of estimated and actual Pass Through Costs, the corresponding Pass Through Costs shall be adjusted between Sublandlord and Subtenant (with appropriate reimbursements or additional payments) within thirty (30) days after delivery to Subtenant of any reconciliation statement. For purposes of calculating Pass Through Costs, Sublandlord shall be entitled to rely conclusively on Master Landlord’s determination of estimated and actual Additional Rent. 4.4. Subtenant also shall pay, within thirty (30) days after written notice by Sublandlord, any other fees, charges or other sums payable with respect to the Sublease Premises (collectively, “Other Charges”) for: (a) any excess or after hours utility consumption within the Sublease Premises; (b) any excess, after hours or supplemental heating, ventilating or air conditioning service supplied to the Sublease Premises; (c) any services or benefits supplied to the Sublease Premises at Subtenant’s request (or with Subtenant’s acquiescence; provided that Subtenant has been advised of such additional charge) for which Master Landlord reserves any right to impose a fee or charge separate from the Pass Through Costs; (d) any reimbursement of Master Landlord or Sublandlord for taxes on personal property, equipment and fixtures located in full or about the Sublease Premises during the Sublease Term; (e) any damage to the Building resulting from the negligence or intentional misconduct or breach of this Sublease by Subtenant or Subtenant’s agents, employees, contractors or invitees; (f) damages recoverable due to a default under the Master Lease which is the result of any Default or failure of performance by Subtenant under this Sublease; and (g) any other costs or expenses due from Subtenant to Sublandlord under this Sublease. 4.5. All Rent shall be paid to Sublandlord or to such other person or such other place as directed by Sublandlord may from time to time designate in writing. If any Rent is not paid when due, Subtenant acknowledges that Sublandlord will incur additional administrative expenses and costs which are difficult or economically impractical to ascertain. In addition to any late charges and interest payable under the Master Lease, if Subtenant fails to pay any undisputed amount hereunder within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenantnotice that the same is due, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid pay an administrative charge to Sublandlord on a monthly basis and are due and payable in advance on equal to the first day greater of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of $250 or five percent (5%) of the amount due or $100, whichever is greater, delinquent amount. Neither demand for nor receipt of any rent payment not received on the date due. In addition, all amounts not paid late charge called for under this Sublease shall (i) operate to waive any default by Subtenant when due or provide a substitute for Subtenant’s full and timely performance of the obligation to pay Rent, or (ii) limit the exercise of any other right or remedy Sublandlord may have under this Sublease in case of Subtenant’s default. 4.6. Subtenant shall bear interest have the right, not more than once annually, with at least thirty (30) days’ prior notice to Sublandlord, to review the rate books and records of Sublandlord with respect to services provided under the Facilities Agreement and the Pass-Through Costs and Other Charges. Sublandlord shall make such books and records available at a place reasonably convenient to both Sublandlord and Subtenant. Such audit shall be conducted at Subtentant’s sole cost and expense unless the audit reveals that Subtenant was overcharged by more than ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy), in which event, Sublandlord may also treat failure shall pay for the cost of the audit (up to pay on the first day amount of a month the Monthly Base Rent payment for such month as a Default by Subtenant, overcharge). Subtenant acknowledges that it will not have the right to review the books and records of Master Landlord and that Sublandlord shall be entitled under no obligation to any and all remedies for such Defaultdo so on Subtenant’s behalf.

Appears in 1 contract

Samples: Master Transaction Agreement (Medicines Co /De)

Rent. (a) Commencing on the Commencement Date and on the first (1st ) day of each month thereafter and continuing until the Initial Expiration Date, Subtenant shall pay monthly base full service gross rent (to Sublandlord, for the use of Premises, annual Monthly Base Rent” at a rate of Two Dollars and Sixty Cents ($2.60) to Sublandlord during the term per square foot of this SubleaseRentable Area, without offset, deduction or abatement, which Monthly Base Rent shall be in the for a total monthly amount of Sixty-Five Eighteen Thousand Two Hundred Ninety Eight Dollars and No/100 Dollars Eighty Cents ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month18,298.80) . (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (shall pay as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full ” any late fees and charges, Excess Utility Costs, Special Cleaning Services Charges or other charges owed by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of under this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant The Parties hereby acknowledge and agree that notwithstanding anything herein to the contrary, in no event shall the Additional Rent payable by Subtenant hereunder be deemed to include Tenant’s Proportionate Share of any increases in Insurance Costs, Operating Costs and/or Taxes as contemplated under Section 6.2 of the Lease and Sublandlord shall not be remain solely responsible for separate payment all such costs. In the event any of the Lease Provisions that are incorporated into this Sublease contain references to Tenant’s Proportionate Share of Operating Expenses Costs and/or Taxes, such language shall be disregarded and deemed inapplicable to Subtenant’s obligations under the Master Leasethis Sublease. (dc) Monthly Base Rent, Additional Rent and all other costs and expenses amounts payable hereunder by Subtenant shall be referred to collectively as hereunder (collectively, rent.” All Monthly Base Rent payments Rent”), shall be paid by Subtenant in United States legal tender, without any set-off or deduction whatsoever, to Sublandlord on a monthly basis and are at the following address: Accesia, Inc. c/o The Xxxxxxxx Organization, 0000 Xxxxxxxxx Xxxxxx XX, Xxxxxx, Xxxx 00000, or to such other party or such other place as Sublandlord may from to time designate in writing to Subtenant. (d) Base Rent for each month during the Sublease Term shall be due and payable in advance advance, on or before the first (1st) day of each month, without demand and without any set-off or deduction whatsoever. All other rent (including If Base Rent, Additional Rent) shall be paid , or any other sums payable by Subtenant to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts hereunder are not paid by Subtenant when due such payment is due, Subtenant shall bear pay Sublandlord interest at and late charges on all overdue amounts as provided in Sections 33.8 and 33.9 of the rate of ten percent (10%) per annum until paidLease. As a cumulative and non-exclusive remedyNotwithstanding the foregoing, Sublandlord may also treat failure to pay on will not assess a late charge until Sublandlord has given written notice of such late payment for the first day late payment in any twelve (12) month period and after Subtenant has not cured such late payment within three (3) days from receipt of such notice. No other notices will be required during the following twelve (12) months for a late charge to be incurred. Rent for any partial month during the Monthly Sublease Term shall be prorated by dividing the number of days in such month that fall within the Sublease Term by the total number of calendar days in such month. Concurrently with the execution of this Sublease, Subtenant shall pay Sublandlord Base Rent payment for such the first month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultof this Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Tobira Therapeutics, Inc.)

Rent. (a) Commencing Tenant covenants to pay to Landlord, as rent for the Premises commencing on the Commencement DateDate and thereafter during the Term, Subtenant shall pay monthly base full service gross rent the amounts set forth on or determined pursuant to Exhibit 5 hereto, (herein called the Monthly Base Basic Rent”) to Sublandlord in monthly installments in advance, beginning on the Commencement Date and on the first day of each calendar month thereafter during the term Term (herein called the “Basic Rent Payment Dates”), by wire or other electronic transfer of immediately available funds to the Landlord at the address set forth above and/or to such other person or such other place or account as Landlord from time to time may designate to Tenant in writing, including, without limitation, Landlord may designate to Tenant in writing that all or a portion of the monthly Basic Rent be paid directly to a Mortgagee or an institutional payment agent. If Tenant shall fail to vacate and surrender the Premises in accordance with the terms of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive upon the expiration or earlier termination of this SubleaseLease, then until such time as Tenant so vacates and surrenders the Premises, Tenant shall pay Basic Rent at a rate of one hundred fifty percent (150%) of the Basic Rent for the last year of the Term. 4510092v4 / 101022.0001 Nothing in the previous sentence shall be construed or operate as a waiver of Landlord’s right of re-entry or any other right of Landlord resulting from such holding over. Subject to the second sentence of subparagraph 7(a), Tenant shall pay when due all taxes payable on Basic Rent and Additional Rent (c) Notwithstanding Subtenant’s obligation to pay as defined below), whether imposed on Landlord or Tenant, including without limitation, all gross rent taxes and sales taxes on such Basic Rent and Additional Rent, Sublandlord but calculated as if the Basic Rent and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment the Additional Rent were the sole income of Operating Expenses under the Master LeaseLandlord. (db) Monthly Base Tenant covenants that all other amounts, liabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease together with every fine, penalty, interest and cost which may be added for nonpayment or late payment thereof or of Basic Rent, Additional Rent and all other costs and expenses payable shall constitute additional rent hereunder by Subtenant shall be referred to collectively as (herein called rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent”). In the event of any failure by Tenant to pay or discharge any Additional Rent, Landlord shall have all rights, powers and remedies provided herein or by law in the case of nonpayment of Basic Rent. Tenant also covenants to pay to Landlord on demand an amount (the “Late Charge”) shall be paid equal to Sublandlord within two percent (2%) of the payment amount then due on all installments of Basic Rent which are more than ten (10) days after Sublandlordoverdue, to cover Landlord’s written demand thereforadministrative expenses. Sublandlord may impose The actual amount of Landlord’s administrative expenses arising by reason of a late charge of five percent (5%) of payment will be difficult to ascertain, and the amount due or $100, whichever parties agree that the Late Charge as calculated above is greater, for any rent payment not received on the date duea reasonable estimate thereof. In addition, all amounts not paid by Subtenant when due shall bear Tenant further covenants to pay to Landlord on demand interest at the per annum rate of ten interest equal to the greater of (a) two percent (102%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure plus the “prime rate” as reported by the Wall Street Journal or (b) the interest rate applicable to pay on the first day late payments of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled interest or principal due with respect to any debt secured by a first Mortgage (such greater rate being referred to as the “Default Rate”), provided that the Default Rate shall not exceed the maximum rate permitted by applicable law, on all Basic Rent and all remedies for Additional Rent due to Landlord from the date due until such Defaultamount is paid in full. If the Wall Street Journal is no longer published or the Wall Street Journal discontinues publication of the “prime rate,” then Landlord shall substitute a comparable prime rate.

Appears in 1 contract

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

Rent. (a) Commencing on During the Commencement DateTerm, Subtenant Tenant shall pay Landlord, in monthly base full service gross rent (“Monthly installments of 1/12th, annual Base Rent”) to Sublandlord during the term of this SubleaseRent and Estimated Expenses, without offsetnotice, deduction or demand, abatement, which Monthly Base Rent shall be offset or deduction except as otherwise expressly provided herein, in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rentadvance, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each calendar month, in accordance with the terms of this Lease. All other rent (including Additional Rent) items of Rent shall be paid to Sublandlord within ten (10) due and payable by Tenant on or before 30 days after Sublandlord’s written demand thereforbilling by Landlord. Sublandlord may impose All Rent shall be made 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. Base Rent, Real Property Taxes and Operating Expenses shall be appropriately prorated on a late charge of five percent (5%) of the amount due or $100, whichever is greater, per diem basis for any rent payment not received partial month during the Term. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations, except as otherwise expressly provided herein. If this Lease or Tenant’s right to possess the Premises is terminated on the date due. In addition, all amounts not paid account of a monetary Event of Default by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and Tenant or material non-exclusive remedy, Sublandlord may also treat failure to pay on the first day monetary Event of a month the Monthly Base Rent payment for such month as a Default by SubtenantTenant, then (in addition to all other rights and remedies available to Landlord) Landlord shall be entitled to recover from Tenant that amount that is equal to the product of the sum of all abated Base Rent, Real Property Taxes and Operating Expenses multiplied by a fraction, the numerator of which is the difference between 162 and the number of months in the Term that Tenant has paid monthly installments of Base Rent, Real Property Taxes and Operating Expenses, in full, to Landlord and the denominator of which is 162; provided, however, to the extent Landlord otherwise recovers Rent hereunder it shall not recover any such amount. Landlord’s management fee shall not be reduced on account of any abatement in Base Rent, Real Property Taxes and all remedies Operating Expenses, and any such abatement shall be disregarded for purposes of calculating any management fee based on a percentage of rental revenues. If Tenant is delinquent in the payment of any Rent for more than 5 days, then Tenant shall pay to Landlord on demand a late charge equal to 3% of such Defaultdelinquent sum (provided that such charge shall not be due with respect to the first three late payments in any 12 consecutive month period, unless Landlord fails to receive such late payment within 5 days after Tenant’s receipt of written notice from Landlord that such payment has not been received) and such delinquent sum shall also bear interest from the date such amount was due until paid in full at the Applicable Interest Rate. Tenant shall pay Landlord on demand for any cost incurred by Landlord and charged by its bank in connection with any check presented by Tenant which is not paid by the bank due to insufficient funds.

Appears in 1 contract

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

Rent. Subtenant shall pay to Sublandlord in monthly installments during the Term of this Sublease on or before the first day of every calendar month during the Term Subtenant's Building Share of any and all costs, expenses, claims, liabilities, losses, actions, causes of action, judgments (aas such are internally accounted for by Sublandlord) Commencing actually incurred in the ownership, use, maintenance and/or operation of the Building ("Rent"). The parties agree that the Rent charged to Subtenant shall be consistent with Sublandlord's then current accounting practices, which shall be in conformity with GAAP and shall include Subtenant's share of depreciation for capital expenditures. The terms "Building Share" shall mean a fraction, the numerator of which is the number of rentable square feet within the Subleased Premises, and the denominator of which shall be the total number of rentable square feet within the Building. The parties agree that Subtenant's initial Building Share is equal to 52.70% and Subtenant's Building Share as determined herein shall be modified, based on any increase or decrease in the Commencement Datenumber of rentable square feet within the Subleased Premises as permitted under this Sublease. The parties also agree that, by way of example only and not of limitation, Exhibit "F" attached hereto shows the parties' initial estimate of Rent for the first year of the Term but such Exhibit shall not limit or define Rent, but is merely an illustration as to the calculation of Rent. If Sublandlord obtains a Replacement, Subtenant shall pay monthly base full service gross rent continue its occupancy of the Subleased Premises (“Monthly Base Rent”pursuant to Section 2.3) to Sublandlord during for the term of this Sublease, without offset, deduction or abatementperiod, which Monthly Base Rent shall be in ends five (5) years after the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to SubtenantEffective Date, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under paying the Master Lease. (d) Monthly Base newly calculated Rent, Additional Rent which shall include an additional amount equal to Subtenant's Building Share of the costs incurred in connection with the renegotiation, including, without limitation, interest on Sublandlord's equity investment in the Building, interest on any debt encumbering the campus, attorneys' fees, and any and all other costs and expenses incurred by Sublandlord in connection with such Replacement. Upon completion by Sublandlord of "Sublandlord's Work" described in Exhibit "E" hereto, Sublandlord shall determine the amount of depreciation to be taken thereon monthly during the Term in accordance with Sublandlord's accounting policies, which amount shall be added to the Rent payable hereunder by hereunder. Sublandlord shall provide notice of such monthly increase in Rent, and thereafter Subtenant shall be referred pay Rent in the amount set forth in Sublandlord's notice. In the event such notice is delivered after the Effective Date, Subtenant shall pay to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance Sublandlord, on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount next date on which Rent is due, such additional Rent due or $100, whichever is greater, for any rent payment not received on month prior to and including the date duemonth in which such notice is given. In additionall cases, all amounts Subtenant's obligations under this Section 5.1 shall not paid by Subtenant when due shall bear interest at include any "accelerated" payments related to the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultamortized costs described herein.

Appears in 1 contract

Samples: Sublease (Conexant Systems Inc)

Rent. (a) Commencing on Collected rent, including, without limitation, fixed rent, prepaid rent, additional rent and percentage rent, if applicable, shall be apportioned as of the Commencement Closing Date in accordance with the provisions of this Paragraph 6. With respect to any rent arrearages arising under the Existing Leases for the period prior to the Closing Date, Subtenant Buyer shall pay monthly base full service gross to Seller any rent or payment actually collected after Closing which is designated as applicable to the period preceding the Closing Date. All rent under the Existing Leases collected by Buyer after Closing that is not so designated shall be applied first to the current month’s rent, then to unpaid rent accruing prior to the Closing Date and then to unpaid rent accruing on or after the Closing Date. During the nine (9) month period following Closing, Buyer shall use good faith commercially reasonable efforts to recover any rent (“Monthly Base Rent”or other tenant charge) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be arrearages in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end respect of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant period prior to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectivelyClosing Date, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree provided that Subtenant Buyer shall not be responsible for separate payment of Operating Expenses under the Master Lease. required to incur any material cost or commence any legal proceeding in connection therewith. Seller (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred upon notification to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional RentBuyer) shall be paid entitled to Sublandlord within ten (10) days sxx a tenant, before and/or after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greaterClosing, for any delinquent rent payment (or other tenant charges) due to Seller (and not received on the date duepreviously paid to Seller) under an Existing Lease, so long as such suit does not seek a termination of such Existing Lease or eviction of such tenant. In addition, except for the right to commence litigation in all matters relative thereto, whether before or after Closing, Seller expressly assigns to Buyer all rights to collect on behalf of Seller all amounts not paid due or owed by Subtenant when due Urban Investment Trust, Inc. and Jxxx Xxxxxxxx pursuant to that certain Stipulation dated April 22, 2004 entered into by Seller, Urban Investment Trust, Inc. and Jxxx Xxxxxxxx in connection with the settlement of certain lease claims of Seller against Urban Investment Trust, Inc. and Jxxx Xxxxxxxx (the “Settlement Agreement”). Buyer shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure promptly remit all such payments to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultSeller upon receipt.

Appears in 1 contract

Samples: Agreement of Sale (Hines Real Estate Investment Trust Inc)

Rent. (a) Commencing on the Commencement Date, Subtenant shall pay monthly to Sublandlord, throughout the Sublease Term, a base full service gross rent per annum (“Monthly the "Base Rent") as follows: Base Rent Period --------- ------ $536,800.00 April 1, 2000 through March 14, 2001 $646,800.00 March 15, 2001 through July 31, 2003 $705,600.00 August 1, 2003 through the date that is one day prior to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Expiration Date The Base Rent shall be payable by Subtenant to Sublandlord, in advance, in equal consecutive monthly installments which are due and payable on or before the amount first day of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent each calendar month during the Sublease Term, with appropriate prorations for any partial month occurring at the beginning or the end of the term Sublease Term, except that the first month's rent, in the sum of $44,733.33, shall be paid upon the execution of this Sublease shall be prorated on and applied to the basis Base Rent due for the month of a 30-day monthApril, 2000. (b) In addition Subtenant shall also pay to Monthly Base Sublandlord, throughout the Sublease Term as additional rent ("Additional Rent") all additional rent and other charges due under the Lease, Subtenant is responsible for the payment of the following: as if (i) the Parking Charges (as defined in Section 14"Base Tax Year" were the tax fiscal year January 1, below)2000 through December 31, 2000, and (ii) "Base Operating Expenses" were the actual expenses incurred "Operating Expenses" for the calendar year 2000 (as such quoted terms are defined in the Lease). Subtenant shall be responsible for both any estimated payments of Additional Rent and any reconciliation payments of Additional Rent which are payable by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”)Lease. All such amounts Appropriate prorations shall be payable made with respect to any partial calendar years included in full by the Sublease Term. Subtenant as directed by shall make all Additional Rent payments to Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001upon demand. (c) Notwithstanding Subtenant’s obligation In addition to the foregoing, Subtenant shall be solely responsible for all other costs or charges attributable to the Subleased Premises or the Building facilities made available to Subtenant during the Sublease Term including, without limitation, for items such as damage repair, HVAC service, janitorial services, electrical consumption, parking fees, light bulb replacement and other items. Subtenant shall also pay Additional Rentany and all tax due with respect to Rent (as such term is hereinafter defined) pursuant to the laws of New York and/or any political subdivision thereof, Sublandlord and Subtenant hereby acknowledge and agree provided, however, that Subtenant shall not be responsible for separate the payment of Operating Expenses under any tax levied on Sublandlord that is in the Master Leasenature of an income tax. (d) Monthly The Base Rent, Additional Rent and all other costs and expenses payable hereunder by sums due from Subtenant shall be under subparagraph (c) of this Article "3" are collectively referred to collectively in this Sublease as “rent"Rent".” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Sublease Agreement (Greenwich Technology Partners Inc)

Rent. Tenant shall pay to Landlord as minimum monthly rent, without deduction, setoff, prior notice, or demand, the Basic Monthly Rent described in Paragraph 2.6, above (a) Commencing subject to adjustments as provided in the attached Addendum), in advance, on or before the first day of each calendar month, beginning on the Rent Commencement DateDate and thereafter throughout the Term. If the Rent Commencement Date is other than the first day of a calendar month, Subtenant then the Basic Monthly Rent payable by Tenant for the first month of the Term following the Rent Commencement Date (which first month shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term be payable upon execution of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease Lease) shall be prorated on the basis of a 30-day the actual number of days during the Term occurring during the relevant month. (b) In . Notwithstanding the foregoing, if Landlord is delayed in completion of Landlord’s Work due to any act or omission by Tenant or its agents, employees, contractors, or representatives, then in addition to the Basic Monthly Base Rent payable for the first month of the Term following the Rent Commencement Date, additional rent (at the rate of one-thirtieth of the Basic Monthly Rent per day) for the number of days of such delay. All “Rental” (which includes Basic Monthly Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e.Percentage Rent, if Subtenant requests the use of after-hours HVACany, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease items designated as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other additional rent (including Additional Renthereunder) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest Landlord at the rate of ten percent (10%) per annum until paidsame address as notices are to be delivered to Landlord pursuant to Paragraph 2.10, above. As a cumulative and nonLandmark National Ban—Revised 8-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.16-01 Standard Shopping Lease FINAL 8-16-01 Landlord /s/ [ILLEGIBLE] Tenant /s/ [ILLEGIBLE]

Appears in 1 contract

Samples: Standard Retail Lease (1st Pacific Bancorp)

Rent. Rent and other payments payable by tenants, licensees, concessionaires, and other persons using or occupying the Real Property or any part thereof under a Lease or otherwise, if any, for or in connection with such use or occupancy, including, without limitation, fixed monthly rentals, additional rentals, percentage rentals, escalation rentals, retroactive rentals, operating cost pass-throughs, common area maintenance charges, HVAC charges, payments of taxes and insurance expenses, promotional/marketing charges, construction receivables and other sums and charges payable by the tenants under the Leases (collectively, “Rent”) shall be prorated as of the Closing Date such that Seller will be entitled to Rent attributable to periods prior to the Closing Date and Purchaser will be entitled to Rent attributable to periods from and after the Closing Date, all as more particularly set forth below: (a) Commencing on All Rent, including estimated payments of Percentage Rent (as defined below), which have been paid under the Commencement Date, Subtenant shall pay monthly base full service gross rent Leases as of Closing for the month in which the Closing occurs (“Monthly Base Current Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on as of the basis of a 30-day monthClosing Date. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment There shall be no proration at Closing of any Rent which has not been collected as of the following: Closing (“Rent Arrears”). In the event that either Purchaser or Seller receives Rent from a tenant after the Closing Date, such Rent shall be applied in the following order of priority (after deduction of actual out-of-pocket costs of collection paid by Purchaser to third parties): (i) first to Rents owed by such tenant for all periods following the Parking Charges (as defined in Section 14Closing Date, below), and (ii) second to Rents owed by such tenant for all periods prior to the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are Closing Date. Any sums owed to be provided by Master Landlord (i.e.Seller or Purchaser, if Subtenant requests as the use of after-hours HVACcase may be, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or foregoing shall be paid by to the Master Lease as a result of actions or omissions party entitled hereunder to receive such sum within fifteen (15) days following receipt thereof by the other party. Purchaser shall deliver to Seller by the twentieth (20th) day of the Subtenant; first full calendar month after the Closing and every month thereafter through the 6th month following Closing, a statement of the collection status of each Rent Arrear until the collection of all Rent Arrears. Purchaser shall use its commercially reasonable efforts to pursue all Rent Arrears in the ordinary course of business, provided that Purchaser shall not be obligated to commence a lawsuit against any tenant in respect thereof. For one (1) year following the Closing, Seller shall have the right, upon reasonable notice, but no more often than twice in such twelve (12) month period, to audit Purchaser’s books and records to verify the amount of Rent Arrears which has actually been collected by Purchaser. Until the one-year anniversary of the Closing Date, Purchaser shall not waive any Rent Arrears or modify, amend or waive any Lease so as to reduce the Rent Arrears for any period (or any portion thereof) in which Seller is entitled to receive such Rent Arrears, without first obtaining Seller’s prior written consent. Seller reserves all rights with regard to all Rent Arrears (including, without limitation, initiating and prosecuting a lawsuit against such tenant), subject to the limitations that (i) Seller shall not have the right to bring or maintain any action to either dispossess any tenant that is in then in possession or terminate any of the Leases and (ivii) Seller shall not commence any actual and direct expenses Sublandlord incurs by reason such action for a period of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) 90 days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001Closing Date. (c) Notwithstanding Subtenant’s obligation Percentage rent or overage rent (referred to pay Additional herein as “Percentage Rent”) under each Lease shall be prorated between Purchaser and Seller for the Lease Year (as defined below) in which the Closing occurs (the “Subject Lease Year”) in proportion to the relative periods of ownership of Seller and Purchaser during such Lease Year, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not with an adjustment to be responsible made post-Closing upon completion of each applicable Lease Year to account for separate payment of Operating Expenses any Percentage Rent paid after Closing Date occurs. As used herein, the term “Lease Year” means the twelve (12) month period (or, as to tenants for which the Closing occurs during a partial Lease Year, such applicable shorter period) as to which annual Percentage Rent is owed under the Master each Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent (including Additional Rent) shall be paid to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Default.

Appears in 1 contract

Samples: Purchase and Sale Agreement (LaSalle Hotel Properties)

Rent. (a) Commencing on 6.1 From the Commencement Date, Subtenant Date and throughout the Term the Tenant shall sub-let the Housing Units and shall collect rent from the sub-tenants. The sublet of Housing Units by the Tenant shall comply with the terms and conditions set out in Section 16 of this Lease. 6.2 The Tenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term City Basic Rent each Lease Year, with the obligation to pay commencing as of this Sublease, without offset, deduction or abatement, which Monthly Base the Commencement Date and continuing throughout the Term of the Lease. The amount of the Basic Rent payable in each Lease Year shall be calculated and paid in accordance with the following terms: i. The Basic Rent shall be paid by the Tenant to the City quarterly, specifically on, March 31st, June 30th, September 30th and December 31st of each Lease Year of the Term. Payment shall be made at the office of the City, or at such other place designated in writing by the City, without any prior demand, deduction, abatement, set-off or compensation whatsoever. All payments of Rent shall be made electronically or by cheque to the City, as the City shall determine; ii. The “Basic Rent” payable by the Tenant to the City each Lease Year shall be equal to the amount collected by the Tenant each Lease Year from the sub- tenants, minus the Tenant’s expenses. Basic Rent shall be based on the actual net proceeds received from the Tenant from the sub-tenants. For clarity, the Tenant shall be permitted to deduct its expenses, including but not limited to operating costs, professional fees and day-to-day maintenance, from the rent received from the sub-tenants and the net amount received from the sub-tenants shall be the amount payable to the City for Basic Rent. The Basic Rent payable by the Tenant to the City may be estimated by the Tenant, with a final determination of the Basic Rent made in accordance with the provisions of Section 16 of this Lease. If the Tenant has overpaid its Basic Rent, the City shall credit any such excess paid against future amounts to be paid by the Tenant, except in the amount final Lease Year when the Landlord shall refund any excess paid. If nay balance of Sixty-Five Thousand the Basic Rent remains unpaid, the same shall be promptly remitted to the City within 30 days of the determination of the shortfall; iii. The Basic Rent is not inclusive of HST and No/100 Dollars the Tenant shall pay HST, if applicable, on the same date as the quarterly payments of Basic Rent are due and such payment shall be made as Additional Rent. For the purpose of this Lease, HST means Harmonized Sales Tax payable pursuant to the Excise Tax Act ($65,000.00)Canada) as amended from time to time; and iv. Monthly Base The terms governing the calculation of Rent for any partial month at is subject to adjustment in the beginning event that the Housing Facility is modified or otherwise adjusted by the City in accordance with this Lease. 6.3 Within 60 days of the end of a Lease Year, the term Tenant shall provide to the City an accounting of this Sublease shall be prorated on all rents received from sub-tenants and all of the basis of a 30expenses, including but not limited to operating costs and day-to-day month. (b) In addition to Monthly Base Rentmaintenance, Subtenant is responsible deducted from the Tenant’s rental income. The accounting shall include, but not be limited to, copies of invoices for all payments of rent from the sub-tenants and receipts for the payment of all amounts deducted by the following: (i) Tenant from the Parking Charges (as defined rental income received by the Tenant from the sub-tenants. 6.4 The City by notice in Section 14, below), (ii) writing to the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be Tenant may dispute or request clarification on the accounting provided by Master Landlord (i.e., if Subtenant requests the use of afterTenant. If the Tenant deducted ineligible funds from the rental income received from the sub-hours HVAC, such after-hours HVAC charges tenants and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant from the Basic Rent paid to the Sublease or City, then an amount equal to the Master Lease as a result of actions or omissions amount of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts ineligible deduction shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are become due and payable in advance to the City as part of the Basic Rent on the first day next payment date. Any such notice must be delivered by the City to the Tenant within thirty (30) business days from receipt by the City of each month. All other rent (including Additional Rent) the accounting, failing which the City shall be paid deemed to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of have agreed to the amount due or $100, whichever is greater, account provided by the Tenant. 6.5 Rent will be considered as annual and accruing from day-to-day and where it becomes necessary for any rent payment not received reason to calculate Rent for an irregular period of less than on the date due. In additionfull Lease Year, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative an appropriate apportionment and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and adjustment will be made. 6.6 There shall be entitled no rent deposit or security deposit. 6.7 Any dispute between the Parties in regard to any and all remedies for such Defaultthe payment of Rent shall be resolved in accordance with the Dispute Resolution provision of this Lease.

Appears in 1 contract

Samples: Lease Agreement

Rent. (a) Commencing on Beginning with and including the first Payment Date occurring after the Commencement Date, Subtenant Lessee shall pay monthly base full service gross to the Agent, on behalf of Lessor, by wire transfer of immediately available federal funds using the wiring instructions set forth in Exhibit D attached hereto or by such other method of payment as may be mutually agreed upon by Lessor, Lessee and Agent, basic rent in the amounts set forth in Exhibit C attached hereto, subject to adjustment as set forth in subparagraph (“Monthly Base b) below (such basic rent, as so adjusted from time to time, is hereinafter referred to as "Basic Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base "). Basic Rent shall be absolutely net to Lessor, so that this Lease shall yield to Lessor the Basic Rent throughout the Term and shall be paid without demand or offset, as more particularly provided hereinafter. Each installment of Basic Rent received by the Agent shall be disbursed by the Agent in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end accordance with Article IX of the term Deed of this Sublease shall be prorated on the basis of a 30-day monthTrust. (b) In addition to Monthly Base RentLessor and Lessee acknowledge and agree that Basic Rent has been determined based upon a number of factors, Subtenant is responsible for which include the payment amount of interest payable on the aggregate sum of the following: outstanding principal amount of the Bonds from time to time, the yield payable on the aggregate sum of the outstanding principal amount of Certificates from time to time and any other amounts and costs payable pursuant to the Operative Documents. Accordingly, Basic Rent shall be adjusted from time to time by Lessor and Lessee to reflect (i) any increase in the Parking Charges (as defined in Section 14, below)aggregate sum of the outstanding principal amount of the Bonds and/or the Certificates, (ii) any redemption of the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are Bonds prior to be provided by Master Landlord (i.e.maturity, if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease increase or the Master Lease decrease in Basic Rent as a result of actions or omissions the existence of the Subtenant; and Hedge Documents, (iv) the expiration of any actual and direct expenses Sublandlord incurs Hedge or any default by reason of Subtenant’s non-any Hedge Counterparty in the performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenantany Hedge Documents, and such obligations shall survive (v) any additional amounts and costs that become due and owing pursuant to the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001other Operative Documents. (c) Notwithstanding Subtenant’s Lessee covenants and agrees to pay and discharge, as additional rent (the "Additional Rent"), all amounts, liabilities and obligations (other than Basic Rent) which Lessee assumes or agrees or is otherwise obligated to pay under this Lease or any other Operative Document (whether or not designated as Additional Rent) to Agent or any other Person, including without limitation, the Head Lessor's Fee, any costs otherwise payable by Issuer under the Hedge Documents, Break Costs, the Residual Guaranty Amount and any Lease Balance. Each payment of Additional Rent received by the Agent shall be disbursed by the Agent in accordance with Article IX of the Deed of Trust. Lessor, as promptly as practicable after obtaining knowledge that any Additional Rent will be payable under this Lease, will advise Lessee, by written notice, of the amount of any Additional Rent payable hereunder and the date on which any Additional Rent is due and payable by Lessee in order for Lessor to meet its obligations with respect to payments by Lessor to other Persons, but failure to give such notice shall not relieve Lessee of the obligation to make such payments. Additional Rent shall be paid to Agent or the Person entitled thereto, on the date specified in Lessor's written notice to Lessee, by wire transfer of immediately available federal funds using the wiring instructions set forth in Exhibit D attached hereto. In the event of any failure by Lessee to pay or discharge any Additional Rent, Sublandlord Lessor shall have all rights, powers and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate remedies provided herein or by Law in the case of non-payment of Operating Expenses under the Master LeaseBasic Rent. (d) Monthly Base Rent, In the event that any payment of Basic Rent or Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance on the first day of each month. All other rent is not made within fifteen (including Additional Rent) shall be paid to Sublandlord within ten (1015) days after Sublandlord’s written demand therefor. Sublandlord may impose the date on which the same is due and payable, Lessee shall pay to whomever shall be entitled thereto, in each case as Additional Rent, a late charge of five equal to two percent (52%) of the amount due or $100overdue amount, whichever is greatertogether with interest, for any rent payment not received on from the date dueon which the payment was due (without regard to any applicable grace period) until the date such payment is made in full, at the fluctuating rate which is at all times equal to the LIBO Rate plus 2% per annum (the "Default Rate"). In addition, Lessee shall pay all costs of collection, including attorneys' fees, if collection of amounts not paid due to Lessor or any other Person is referred to an attorney after default by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such DefaultLessee.

Appears in 1 contract

Samples: Lease Agreement (Human Genome Sciences Inc)

Rent. A. The Fixed Rent for the Sublease Term shall be Five Hundred Forty-Seven Thousand Six Hundred Forty-Two Dollars and 72/100 (a$547,642.72) Commencing per annum and shall be payable monthly, in advance, on the Commencement Datefirst (1st) day of each calendar month, in equal monthly installments of Forty-Five Thousand Six Hundred Thirty-Six Dollars and 89/100 ($45,636.89). B. Subtenant shall pay monthly base full service gross rent (“Monthly Base Rent”) to Sublandlord during the term of this Sublease, without offset, deduction or abatement, which Monthly Base Fixed Rent shall be in the amount of Sixty-Five Thousand and No/100 Dollars ($65,000.00). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant hereby acknowledge and agree that Subtenant shall not be responsible for separate payment of Operating Expenses under the Master Lease. (d) Monthly Base Rent, Additional Rent and all other costs and expenses payable hereunder by Subtenant shall be referred to collectively as “rent.” All Monthly Base Rent payments shall be paid to Sublandlord on a monthly basis and are due and payable in advance in equal monthly installments on the first day of each monthcalendar month during the Term, provided that Subtenant shall pay the first installment of Fixed Rent when Subtenant executes this Sublease. All other rent (including Additional Rent) For any partial calendar month during the Sublease Term, the Fixed Rent shall be paid to apportioned based upon the number of days in the partial month. C. As additional rent, Subtenant shall pay 75.25% of the cost of all utilities for the Premises including, but not limited to, the cost of water and power, gas, heating, lighting, air conditioning and ventilating for the Premises and all maintenance and janitorial expenses incurred by Sublandlord within for the Premises. Within ten (10) days after of the end of each month, Sublandlord shall deliver a statement to Subtenant detailing Subtenant’s portion of the maintenance and janitorial expenses and utilities; and Subtenant shall pay such statement within thirty (30) days of receipt from Sublandlord’s written demand therefor. Until December 31, 2004, maintenance and janitorial additional rent shall be Ten Thousand One Hundred Thirty-Four Dollars ($10,134.00) per month, prorated for October. Subtenant shall pay the cost of any separate metering or submetering necessary to satisfy any legal requirements, in which case the percentage set forth in this Subparagraph C shall be equitably adjusted. If Sublandlord may impose a late charge intends to vacate its portion of five the Premises, Sublandlord will notify Subtenant of the date of such vacating. Subtenant shall be solely responsible for one hundred percent (5100%) of the amount due utilities thereafter and will take whatever actions are necessary to establish accounts directly with utility providers. D. All payments called for under this Sublease shall be made at Sublandlord’s address of Facilities Service Group, 0000 Xxxxxx Xxxxx, M/C 000-000-000, Attn: Real Estate Services or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts not paid by Subtenant when due shall bear interest at the rate of ten percent (10%) per annum until paid. As a cumulative and non-exclusive remedy, such other address as Sublandlord may also treat failure to pay on the first day of a month the Monthly Base Rent payment for such month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultdesignate.

Appears in 1 contract

Samples: Sublease Agreement (Ener1 Inc)

Rent. (a) Commencing on the Commencement Date and on the first (1st) day of each month thereafter and continuing until the Initial Expiration Date, Subtenant shall pay monthly base full service gross rent (to Sublandlord, for the use of Premises, annual Monthly Base Rent” at a rate of Two Dollars and Sixty Cents ($2.60) to Sublandlord during the term per square foot of this SubleaseRentable Area, without offset, deduction or abatement, which Monthly Base Rent shall be in the for a total monthly amount of Sixty-Five Eighteen Thousand Two Hundred Ninety Eight Dollars and No/100 Dollars Eighty Cents ($65,000.0018,298.80). Monthly Base Rent for any partial month at the beginning or the end of the term of this Sublease shall be prorated on the basis of a 30-day month. (b) In addition to Monthly Base Rent, Subtenant is responsible for the payment of the following: (i) the Parking Charges (shall pay as defined in Section 14, below), (ii) the actual expenses incurred by Sublandlord for any additional services requested by Subtenant that are to be provided by Master Landlord (i.e., if Subtenant requests the use of after-hours HVAC, such after-hours HVAC charges and assessments which are charged by Master Landlord to Sublandlord shall be payable to Sublandlord by Subtenant); (iii) any charges permitted by and pursuant to the Sublease or the Master Lease as a result of actions or omissions of the Subtenant; and (iv) any actual and direct expenses Sublandlord incurs by reason of Subtenant’s non-performance of its obligations under this Sublease (collectively, “Additional Rent”). All such amounts shall be payable in full ” any late fees and charges, Excess Utility Costs, Special Cleaning Services Charges or other charges owed by Subtenant as directed by Sublandlord within ten (10) days after submission of a written invoice therefor by Sublandlord to Subtenant, and such obligations shall survive the expiration or earlier termination of under this Sublease. 4510092v4 / 101022.0001 (c) Notwithstanding Subtenant’s obligation to pay Additional Rent, Sublandlord and Subtenant The Parties hereby acknowledge and agree that notwithstanding anything herein to the contrary, in no event shall the Additional Rent payable by Subtenant hereunder be deemed to include Tenant’s Proportionate Share of any increases in Insurance Costs, Operating Costs and/or Taxes as contemplated under Section 6.2 of the Lease and Sublandlord shall not be remain solely responsible for separate payment all such costs. In the event any of the Lease Provisions that are incorporated into this Sublease contain references to Tenant’s Proportionate Share of Operating Expenses Costs and/or Taxes, such language shall be disregarded and deemed inapplicable to Subtenant’s obligations under the Master Leasethis Sublease. (dc) Monthly Base Rent, Additional Rent and all other costs and expenses amounts payable hereunder by Subtenant shall be referred to collectively as hereunder (collectively, rent.” All Monthly Base Rent payments Rent”), shall be paid by Subtenant in United States legal tender, without any set-off or deduction whatsoever, to Sublandlord on a monthly basis and are at the following address: Accesia, Inc. c/o The Xxxxxxxx Organization, 0000 Xxxxxxxxx Xxxxxx XX, Xxxxxx, Xxxx 00000, or to such other party or such other place as Sublandlord may from to time designate in writing to Subtenant. (d) Base Rent for each month during the Sublease Term shall be due and payable in advance advance, on or before the first (1st) day of each month, without demand and without any set-off or deduction whatsoever. All other rent (including If Base Rent, Additional Rent) shall be paid , or any other sums payable by Subtenant to Sublandlord within ten (10) days after Sublandlord’s written demand therefor. Sublandlord may impose a late charge of five percent (5%) of the amount due or $100, whichever is greater, for any rent payment not received on the date due. In addition, all amounts hereunder are not paid by Subtenant when due such payment is due, Subtenant shall bear pay Sublandlord interest at and late charges on all overdue amounts as provided in Sections 33.8 and 33.9 of the rate of ten percent (10%) per annum until paidLease. As a cumulative and non-exclusive remedyNotwithstanding the foregoing, Sublandlord may also treat failure to pay on will not assess a late charge until Sublandlord has given written notice of such late payment for the first day late payment in any twelve (12) month period and after Subtenant has not cured such late payment within three (3) days from receipt of such notice. No other notices will be required during the following twelve (12) months for a late charge to be incurred. Rent for any partial month during the Monthly Sublease Term shall be prorated by dividing the number of days in such month that fall within the Sublease Term by the total number of calendar days in such month. Concurrently with the execution of this Sublease, Subtenant shall pay Sublandlord Base Rent payment for such the first month as a Default by Subtenant, and shall be entitled to any and all remedies for such Defaultof this Sublease.

Appears in 1 contract

Samples: Consent to Sublease (Tobira Therapeutics, Inc.)

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