Rent. Lessee shall make the following rental payments to Lessor: (a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007. (b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 2 contracts
Samples: Lease Agreement (Acme Television LLC), Lease Agreement (Acme Intermediate Holdings LLC)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Attention: Department Representative, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate designate, rent at the rate of Two Thousand Three Hundred Sixty-Five and 00/100 Dollars ($2,365.00) per annum. Rent shall be paid in full annually by March 1st of each year. If at any time Lessee vacates the Premises prior to the expiration of the Lease, Lessee by notice will be responsible for all rental payments and repairs, above and beyond normal wear and tear, until and including the date Lessor cancels the Lease. Rent during any extended term agreed to pursuant to Paragraph 9 of the Lease shall be at the prevailing market rental value. Lessor shall notify the Lessee in writing, at least ninety (90) days prior to the expiration of the prior term or extension, of the proposed rent increase for the extended term. Lessee shall notify Lessor in writing within thirty (30) days of receipt of Lessor’s notice, of Lessee’s acceptance or rejection of Lessor’s proposed rental rate for the extended term. In the event an extension option is exercised, all the terms and conditions of this Lease shall continue over the extended term, except that the rental rate shall be adjusted. In the event that Lessee fails to make a required payment under this Lease within thirty (30) days of the due date, Lessee shall pay to Lessor, in addition to such payment or other charges due hereunder, a “late fee” in the manner hereinafter provided. All taxes, charges, costs amount of Ten and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder 00/100 Dollars (hereinafter called the "Additional Rent"$10.00), and in the event per day for each additional day of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentaldelay.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Rent. Lessee Subtenant shall make pay the following rental payments Sublessor rent in two components. With regard to Lessor:
the first component (athe “Fixed Rental Payment”), Subtenant shall pay Sublessor annual rent in the amount of Ninety-One Thousand Four Hundred Thirty Dollars and Forty Cents ($91,430.40) Lessee covenants in six equal installments of Fifteen Thousand Two Hundred Thirty-Eight Dollars and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: Forty Cents ($6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b15,238.40) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand months of May, June, July, August, September and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with October each lease year during the term of this LeaseSublease (the “Payment Dates”), commencing on the first such Payment Date immediately after the Commencement Date, which amount shall be deemed to payable without any demand, deduction, setoff or abatement whatsoever. In the event the term of this Sublease expires on a date other than an anniversary of the Commencement Date, Subtenant’s Fixed Rental Payments for the lease year of such expiration shall be additional rent hereunder (hereinafter called pro rated for the "Additional Rent"), and number of calendar months in the event lease year prior to the expiration date and any unpaid portion shall be paid on or prior to the expiration date. With regard to the second component, Subtenant shall pay Sublessor “seasonal rent” in the months of nonpayment May, June, July, August and September of each year during the term of this Sublease in the amount due under the Prime Lease by Lessee within Sublessor to Prime Landlord on or before the time period set forth abovefirst day of May, Lessor June, July, August and September each year, which amount shall have all be payable without any demand, deduction, setoff or abatement whatsoever. The current amount of such “seasonal rent” is Twenty-Four Thousand Three Hundred Dollars and No Cents ($24,300) annually. Sublessor shall provide Subtenant prior notice of any change in the rights and remedies with respect thereto as Lessor have for the nonpayment amount of the above specified monthly rentalsuch seasonal rent.
Appears in 2 contracts
Samples: Agreement to Assign and Sublease Commercial Space Lease (MHI Hospitality CORP), Agreement to Assign and Sublease Commercial Space Lease (MHI Hospitality CORP)
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Eighteen Thousand ---- Five Hundred Twenty-Eight Dollars ($18,528.00) per month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment as provided in Section A of this Paragraph. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 18,528.00 shall be paid upon execution of the Lease by both Lessor and Lessee, which sum represents the amount of the first month's rent. A deposit of $18,528.00 as a Security Deposit shall be made by Lessee and held by Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease, and shall be paid upon execution of the Lease by both Lessor and Lessee. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1If Lessee is not in default of any provision of this Lease, 2002 THROUGH SEPTEMBER 30this sum, 2007.
(b) Rent is without interest thereon, shall be applied toward the rent due for the last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. Monthly rent shall be paid in advance on the first (1st) day of each monthcalendar month as follows: Months Monthly Rent/NNN ------ ---------------- 01-12 $18,528.00 13-24 $19,300.00 25-36 $20,072.00 37-48 $20,844.00 Rent for any period during the term hereof which is for less than one (1) full month shall be a pro-rata portion of the monthly rent payment. Rents received after Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the tenth (10th) exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within ten (10) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee's default with respect to void the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease Agreement. All rents shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be paid revised to conform to the date of Lessor's delivery of possession. In the event that Lessor without demand and without set-off shall permit Lessee to occupy the Premises prior to the commencement date of the term, such occupancy shall be subject to all of the provisions of this Lease, including the obligation to pay rent at the offices same monthly rate as that prescribed for the first month of XXXXXXXXXX XXXXXX CONSTRUCTION COthe Lease term. Lessee shall have the right to enter the Premises prior to commencement date to install fixtures and equipment, provided Lessee shall not unreasonably interfere with construction of improvements by Lessor's contractors., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided
A. Cost-of-Living Increase. Not applicable. ----------------------- --------------
B. All taxes, insurance premiums, Outside Area Charges, late charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofhereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs costs, and attorney's fees and expenses which Lessors Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the hereinafter, "Additional Rent"), and and, in the event of nonpayment non-payment by Lessee within the time period set forth aboveLessee, Lessor shall have all of the rights and remedies with respect thereto as Lessor have has for the nonpayment non-payment of the above specified monthly rentalinstallment of rent.
Appears in 2 contracts
Samples: Lease (Oratec Interventions Inc), Lease (Oratec Interventions Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee Section 2.1. Tenant covenants and agrees to pay Lessor as to Landlord without ----------- set-off, recoupment, deduction or demand of any nature whatsoever, base rent hereunder for the Demised Premises each year during the Initial Term a demised term in the amount of Five Hundred Eighty Eight Thousand Six Hundred Seventy Two Dollars ($588,672.00) per annum, payable in twelve (12) equal monthly rent as follows: installments of Forty Nine Thousand Fifty Six Dollars ($6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS49,056.00). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007Base rent shall be paid monthly in advance on the first (1st) day of each calendar month.
Section 2.2. For the purpose of this Lease, a year shall be twelve (b12) Rent is due on ----------- calendar months, commencing with the first day of each monththe first full calendar month of the demised term and the succeeding anniversaries thereof. Rents received after For any period prior to the tenth (10th) commencement of any month will include a $25 late fee. Rent not received by the first year or subsequent to the end of the last day year of the month will demised term, rent shall be cause prorated on the basis of the rental rate then payable.
Section 2.3. All sums payable and all statements deliverable to void ----------- Landlord by Tenant under this Lease Agreement. All rents shall be paid to Lessor without demand and without setdelivered at 00 Xxxxxxxxx Xxxx, Xxx Xxxxx, Xxxxxxxxxx 00000-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.0000, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address place as Lessor Landlord may from time to time designate to Lessee direct by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, Tenant and all damagessuch sums shall be paid in lawful money of the United States.
(A) Upon commencement of the demised term, costs Forty Nine Thousand Fifty Six Dollars ($49,056.00) which shall be applied by Landlord to the first base rent to become due and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term payable under this Lease, and
(B) Upon execution of this Lease, Forty Nine Thousand Fifty Six Dollars ($49,056.00) which shall be held as a Security Deposit pursuant to the terms of Section 19.9. ------------
Section 2.5. In addition to base rent under Section 2.1., all other ----------- ----------- payments to be made under this Lease by Tenant to Landlord shall be deemed to be and shall become additional rent hereunder (hereinafter called hereunder, whether or not the "Additional Rent")same to be designated as such, and shall be included in the event term "rent" wherever used in this Lease; and, unless another time shall be expressly provided for the payment thereof, all rent and additional rent shall be due and payable together with the next succeeding installment of nonpayment by Lessee within the time period set forth above, Lessor base rent; and Landlord shall have all the rights and same remedies with respect thereto for failure to pay the same as Lessor have for the a nonpayment of the above specified monthly rentalbase rent.
Appears in 2 contracts
Rent. The Site Lessee shall make pay to the following rental payments Site Lessor on June 1 and December 1 of each year during the Initial Term, twenty-nine thousand ninety-seven DOLLARS ($29,097) as rent (the “Site Rent”) for the semi-annual period ending on such date (a total of $58,194 annually), provided that the first payment of the Site Rent shall be payable on December 1, 2007 and shall be prorated from the Closing Date to Lessor:
(a) December 1, 2007. For the period from and after the expiration of the Initial Term to the end of the Term, the Site Lessee covenants and agrees to pay to the Site Lessor annual rent equal to the annual Fair Market Rental Value of the Ground Interest, which value shall be determined as rent hereunder if the Facility Site were unimproved and unencumbered by any mortgage, deed of trust or other lien or encumbrance (other than this Site Lease, Permitted Encumbrances and Permitted Liens) for such period. Such Fair Market Rental Value shall be determined on the Demised Premises during expiration of the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due and again on the first day of any Renewal Site Lease Term for the year or years thereafter through the remaining Term by agreement of the parties or, if they shall fail to agree, by the Appraisal Procedure, the costs of which shall be shared equally by the Site Lessor and the Site Lessee. Such annual rent shall be payable in arrears on each month. Rents received June 1 and December 1 from and after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents Initial Term during the Term, provided that the first payment of Site Rent under such circumstances shall be paid prorated from the last day of the Initial Term to Lessor without demand and without setthe next occurring payment date set forth above and, provided, further, that any Site Rent for any partial semi-off at annual period during which the offices last day of XXXXXXXXXX XXXXXX CONSTRUCTION CO.the Term occurs shall be prorated. Such proration shall, INC.in each case, 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice be on the basis of the actual number of days in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalapplicable semi-annual period.
Appears in 2 contracts
Samples: Site Lease, Site Lease (Firstenergy Corp)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder Rent for the Demised Existing Premises during shall remain payable as set forth in the Initial Term a monthly rent Lease. Commencing as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents Suite 110 Commencement Date and continuing through the Suite 110 Term, the Annual Rent and Monthly Installment of Rent due for Suite 110 shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, set forth in the Lease and shall be in the following amounts: 3/1/2011 4/30/2011 2,778 $ 0.00 — $ 0.00+E 5/1/2011 4/30/2012 2,778 $ 13.00 $ 36,114.00 $ 3,009.50 +E 5/1/2012 4/30/2013 2,778 $ 14.00 $ 38,892.00 $ 3,241.00 +E 5/1/2013 10/31/2013 2,778 $ 15.00 $ 41,670.00 $ 3,472.50 +E +E = plus electric costs (no abatement of electric costs during initial 2 month base rent free period) The Annual Rent and expenses which Lessee is required to pay Monthly Installment of Rent shall be adjusted pursuant to SECTION 3.01 or other sections hereof, Article 4 of the Lease and Tenant shall pay for Suite 110 during the Suite 110 Term Tenant’s Proportionate Share (2.2%) of the excess Expenses and Taxes over Base Year (Expenses) (calendar year 2011) and Base Year (Taxes) (calendar year 2011) respectively together with all interest other charges and penalties that may accrue thereon payments due under the Lease as therein set forth. The 6% cap on Tenant’s Proportionate Share of Expenses (excluding non-controllable expenses) as set forth in Section 4.2 of the event Original Lease shall be disregarded for purposes of Lessee's failure to pay such amountsthis Amendment, and all damagesshall not apply to the determination of Tenant’s Proportionate Share of Expenses for Suite 110. If for any reason (other than a delay caused by Tenant) the HVAC Repairs are not completed by March 1, costs and expenses which Lessors may incur 2011, then (as Tenant’s sole remedy) Tenant’s two (2) month initial rent free period shall not commence until the HVAC Repairs have been completed. In such event, if so required by reason Landlord, Tenant shall, within thirty (30) days of any default of Lessee or failure on Lessee's part receipt thereof, execute a rent commencement memorandum prepared by Landlord to comply with the term of include a revised rent schedule pursuant to this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalsubparagraph.
Appears in 2 contracts
Samples: Lease Agreement (Reata Pharmaceuticals Inc), Lease (Reata Pharmaceuticals Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) 3.1 Lessee covenants and agrees to pay Lessor as rent hereunder at the place provided herein for the Demised giving of notice to Lessor, as annual base rent for said Premises the sum of Thirty Five Thousand Eight Hundred Forty-Seven Dollars and Fifty Cents ($35,847.50) payable in monthly installments Two Thousand Nine Hundred Eighty-Seven Dollars and Twenty-Nine Cents ($2,987.29) for each month. Each monthly installment shall be paid in advance on the FIRST DAY of each and every calendar month during the Initial Term term hereof. If the term of this lease shall begin on a monthly day other than the 1st of a month, the Lessee shall pay a PRO RATA portion of a month's rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day the term commences and thereafter the Lessee shall pay a succeeding monthly installment on the 1st day of each succeeding month. Rents received after Under no circumstances shall Lessee be entitled to withhold any rent due hereunder or setoff against the tenth (10th) same on account of Lessor's purported failure to perform any month will include of its obligations hereunder.
3.2 Any payment by Lessee or acceptance by Lessor of a $25 late feelesser amount than shall be due from Lessee to Lessor shall be treated as a payment on account. Rent not received The acceptance by Lessor of a check or payment for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such a check or payment, that such lesser amount is payment in full, shall be given no effect and Lessor may accept such check or payment without prejudice to any other rights or remedies which Lessor may have against Lessee.
3.3 Lessee covenants and agrees to pay Lessor at the last day place provided herein for the giving of notice to Lessor, as additional rent during the term hereof Lessee's PRO RATA share, which is hereby defined and agreed as being 19.626% of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which defined in paragraphs 6.3, 7.2, 10.1 and 19.1 of this Lease. Lessee is required to shall pay pursuant to SECTION 3.01 or other sections Lessor such additional rent in monthly installments coincidental with the monthly base rental payments as set forth in paragraph 3.1 hereof. Lessee acknowledges that Lessor may adjust, together with all interest and penalties that may accrue thereon in once every month, the event amount of Lessee's failure monthly installments to pay such amounts, and all damagescover any difference between the actual charges, costs and expenses which Lessors may incur incurred by reason Lessor and the amount of any default of Lessee or failure on the monthly installments paid by Lessee. It is agreed that Lessee's part to comply additional rent in monthly installments shall be One Thousand Six Hundred Eight Dollars and Fifty-Four Cents ($1,608.54) until notification of further adjustment in accordance with the term of this Lease, shall be deemed . In addition to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth aboveforegoing, Lessor shall have all the rights and remedies with respect thereto as Lessor have may make assessments for the nonpayment of the above specified monthly rental.expenses incurred
Appears in 2 contracts
Samples: Lease (Skillsoft Corp), Lease (Skillsoft Corp)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to Sublessee shall pay Lessor as rent hereunder for the Demised Premises during the Initial Term a Sublessor rent, in advance, without notice or demand in equal monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1payments, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on or before the first day of each month, during the period of time indicated below at the following rates: Lease Term Rental Rate June 1, 1995 - May 31, 1997 $14.00 per rentable square foot per year June 1, 1997 - May 31, 1999 $15.00 per rentable square foot per year June 1, 1999 - May 31, 2000 $16.00 per rentable square foot per year The total rentable square feet of 21,996 shall be multiplied by Fourteen Dollars ($14.00) to produce the annual base rent for the initial two years of the term of the Sublease and thereafter the total rentable square feet shall be multiplied by the rental rate indicated in the schedule above to determine the annual base rental payable by Sublessee. Rents received after The applicable annual rent shall be divided by 12 to determine the tenth monthly rent payable by Sublessee.
(10thb) Any additional sum Sublessee is required to pay Sublessor under the terms of this Sublease is designated as Additional Rent.
(c) The obligation to pay rent including Additional Rent hereunder is an independent covenant of the Sublessee and such payment shall be net of any month will include a $25 late fee. Rent not received other obligation Sublessee may have and shall be made without demand, offset or counterclaim.
(d) Except as specifically set forth herein, Sublessor's only obligations are as set forth in this Sublease and Sublessee indemnifies Sublessor of all costs and liabilities incurred by the last day Sublessor on account of Sublessee's tenancy of the month will be cause Subleased Premises or failure of Sublessee to void this Lease Agreement. All rents perform any of its obligations hereunder.
(e) Any rent and/or additional rent shall be paid to Lessor without demand and without set-off Sublessor at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO00 Xxxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxxxx 00000, Attention: X. Xxxxxx., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 2 contracts
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants The annual base rent (“Base Rent”) under this Sublease shall be payable at the same times and agrees to pay Lessor in the same manner as rent hereunder for is payable under the Demised Premises during Prime Lease, except that: (i) Subtenant shall pay the Initial Term a seventh (7th) monthly rent as follows: installment of Base Rent in the amount of Sixty Five Thousand One Hundred and No/100 Dollars ($6,000/MONTH FOR THE FIRST 5 YEARS 65,100.00), within five (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
5) business days after full execution of this Sublease and receipt of Prime Landlord’s Consent to the Sublease; (bii) Subtenant shall pay each month’s Rent is due (defined hereafter) on or prior to the first day of each month. Rents received after , as required herein, and thereafter through the tenth Sublease Termination Date; and (10thiii) of any month will include a $25 late fee. Base Rent not received by shall be payable in the last day of amounts stated in the month will be cause following Base Rent Schedule: 15,624 Stipulated Rentable Square Feet Months Monthly Base Rent Annual Base Rent One (1) through forty-two (42) $ 65,100.00 $ 781,200.00 Forty-three (43) through seventy-eight (78) $ 83328.00 $ 999,936.00 Seventy-nine (79) through Sublease Termination Date $ 98,001.54 $ 1,176,018.48 The Base Rent, Additional Rent, and such other sums due hereunder are collectively referred to void this Lease Agreementas “Rent”. All rents Rent shall be paid to Lessor Sublandlord as follows: CIT, Global Real Estate, 0 XXX Xxxxx, Xxxxxxxxxx, XX 00000, or such other place as Sublandlord may designate, without demand and without any set-off or deduction whatsoever.
(b) Notwithstanding the foregoing to the contrary, so long as an Event of Default (defined hereafter) does not occur during the Term, Subtenant shall receive an abatement of Base Rent only in the total amount of Three Hundred Ninety Thousand Six Hundred and No/100 Dollars ($390,600.00) (“Total Abatement”) for the first six (6) months of the Term. If an Event of Default occurs during the Term, then the then-unamortized portion of the Total Abatement shall immediately become due and payable as provided in this Sublease, as if same had not been abated, which shall be computed by multiplying the Total Abatement by a fraction, the numerator of which shall be the number of months left in the Term as of the date of the Event of Default, and the denominator of which shall be the total months in the Term as originally set on the Sublease Commencement Date; provided, however, if Sublandlord does not terminate this Sublease or Subtenant’s possession of the Premises, and Subtenant further cures such Event of Default, then such abatement of Base Rent shall not become immediately due and payable. To the extent the Sublease Commencement Date starts on a date other than the first day of the month, the Total Abatement shall be prorated over additional months, as necessary, so that the Total Abatement is fully realized by Subtenant, subject to the terms of this paragraph.
(c) In addition to Base Rent, Subtenant shall pay to Sublandlord: (i) Twelve and 01/100 percent (12.01%) (“Subtenant’s Share”) of Tenant’s Operating Payment and Tenant’s Tax Payment due and payable by Sublandlord to Prime Landlord under the Prime Lease in excess of the respective amounts of Tenant’s Operating Payment payable by Sublandlord for the 2011 calendar year and Tenant’s Tax Payment payable by Sublandlord for the 2011 fiscal year (i.e. the period from July 1, 2011 through June 30, 2012); and (ii) one hundred percent (100%) of the charges for any services or other fees (not already constituting a portion of Tenant’s Operating Payment) relating solely to the Premises due under the Prime Lease (collectively, “Additional Rent”), at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.same times, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time provided same notice is delivered to time designate to Lessee by notice Subtenant in the same manner hereinafter providedas such sums are due under the Prime Lease. All taxesNotwithstanding the foregoing, charges, in no event shall Subtenant be charged for Subtenant’s Share of costs and expenses which Lessee is required to pay charged pursuant to SECTION 3.01 Section 3.02E of the Prime Lease which relate to Tenant’s Tax Payment for any years prior to the 2010/2011 fiscal year.
(d) Sublandlord will use reasonable efforts to procure Prime Landlord’s Consent in accordance with the terms of the Prime Lease. If, notwithstanding such reasonable efforts, Sublandlord fails to procure Prime Landlord’s Consent within thirty (30) days after the Effective Date, then Sublandlord or Subtenant may terminate this Sublease with at least three (3) days prior written notice to the other sections hereofparty. If Prime Landlord’s Consent is received by Sublandlord at any time within the foregoing three (3) day notice period (inclusive of the 3rd day), together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsthen this Sublease shall not terminate, and all damages, costs and expenses which Lessors may incur any prior notice of termination given by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, Sublandlord and/or Subtenant shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), withdrawn and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalwithout force or effect.
Appears in 2 contracts
Rent. In consideration of possession and/or right of possession of said leased premises given to Lessee shall make and Lessor’s surrender of the following rental payments to Lessor:
(a) same, Lessee covenants and agrees to pay rent of $ , payable in two equal installments of $ payable on August 1, 20 and December 1, 20 . Checks should be made payable to Xxxxxxx Management Co., Inc. and mailed to 0000 Xxxxxxxxx Xxxx, Xxxxx #0, Xxxxxx, Xxxx 00000.
A. No invoices/and or reminders will be sent to Tenant and/or Guarantor. Please use this Lease with the above dates as your guide. Lessor as reserves the right to deny possession of the leased Premises at the commencement of the Lease Term if the first installment of rent hereunder and deposit has not been paid in full.
B. Lessee will be charged late fees of $5.00 per day for every day the Demised Premises during semester rent installment is in arrears subsequent to a 5-days grace period following the Initial Term due date of said semester installment and shall continue until the entire semester rent installment and all late fees are paid in full.
C. Lessee will be charged a monthly rent as follows: fee of $6,000/MONTH FOR THE FIRST 5 YEARS 50.00 for any check presented to Lessor which is dishonored and shall immediately pay, in U.S. currency or money order, such dishonored check fee along with the full amount of the dishonored check (60 MONTHSno replacement check will be accepted). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1In addition, 2002 THROUGH SEPTEMBER 30, 2007the provisions of this paragraph concerning late payment will be applicable until such time as the returned check is paid in full as provided herein. These provisions are not in lieu of any other legal remedies available to Lessor or Lessor’s agent for nonpayment or late payment of rent by Lessee.
(b) Rent is due on D. Any failure by Tenants to pay rent when due, shall at the first day option the Landlord, terminate all rights of each monthpossession of Tenants hereunder. Rents received after In the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents event that Tenants shall be paid to Lessor without demand and without set-off absent from Premises for a period of ten (10) consecutive days while in default of rent for at least fifteen (15) days, Tenants shall, at the offices option of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Landlord, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to have abandoned the Premises and any property left shall be additional rent considered abandoned and may be disposed of by landlord as he shall see fit. All personal property on Premises is hereby subject to a lien in favor of Landlord for payment of all sums due hereunder (hereinafter called to the "Additional Rent"), and in the event of nonpayment maximum extent allowed by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentallaw.
Appears in 2 contracts
Samples: Semester Lease, Semester Lease
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as A. The base rent hereunder for the Demised Premises during full term of this Lease shall be paid in monthly installments of $ , each installment due on the Initial Term a monthly 25th day of each preceding month for which rent as followsis due. (Example: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent September rent is due on the first 25th day of each August). The first month’s rental payment, in the amount of $ is due on . Rents received after the tenth (10thThe last month’s rent for August is $ .
B. Rent payments shall be made to:
C. LATE FEES: RESIDENT(S) of any month SHALL INCUR AND BE CHARGED $25.00 IF RENT IS NOT RECEIVED BY THE FIRST DAY OF THE MONTH FOR THE MONTH THAT RENT IS TO COVER. A $10.00 PER DAY LATE FEE WILL BE ADDED TO THE $25.00 CHARGE FOR EACH DAY THE RENT IS LATE FROM THE FIRST DAY OF THE MONTH THAT IT IS DUE. Such fee, which will include a $25 late fee. Rent not received be considered additional rent, may be collected immediately by the last day of Agent, or at the month Agent’s option, such fee may be withheld from the Resident’s Security Deposit.
D. A $50.00 fee may be imposed for any Resident(s)’s check returned unpaid to Agent for any reason, whether the check is for rent, Security Deposit or other payment. Late fees will be cause to void this Lease Agreementcharged if applicable. All rents shall be paid to Lessor without demand and without set-off at After two checks from a tenant are returned from the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 bank for insufficient funds or other sections hereofreason, together with all interest and penalties personal checks from that may accrue thereon tenant will no longer be accepted.
E. Resident(s) agree(s) that in the event Owner/Agent is unable to deliver possession of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the Leased Premises upon the date the term of this LeaseLease is to commence, this Lease shall not be void or voidable, nor shall the Owner/Agent be liable for any loss or damage resulting therefrom, but there shall be deemed an abatement of rent for the period between the commencement of the Lease term and the date possession is delivered to Resident(s).
F. All payments received by Metro West Investments will be additional rent hereunder (hereinafter called the "Additional Rent")applied first to pay expenses and fees, including but not limited to late fees, returned check fees, Resident(s) maintenance charges, utilities, if any, and in lastly to the event of nonpayment by Lessee within rent. If any fees go unpaid, Metro West Investments has the time period set forth above, Lessor shall have all right to double these unpaid fees and deduct them from the rights and remedies with respect thereto as Lessor have for Security Deposit at the nonpayment end of the above specified monthly rentalLease.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor as to LJMG a base rent hereunder of SEVENTEEN HUNDRED Dollars and 10/100 Dollars ($1,700.10) per month*, for the Demised Premises during premises. Rent shall be payable monthly in lawful money of the Initial Term a monthly rent as follows: $6,000/MONTH FOR United States, and shall be DUE AND PAYABLE IN ADVANCE ON THE FIRST 5 YEARS (60 MONTHS)DAY OF THE MONTH BEFORE 5:00 PM. INCREASE Your rent is critical! No excuses will be accepted for non-payment. FAILURE TO PAY RENT AS STATED BELOW, AT THE LOCATION INDICATED IN THIS LEASE, WILL RESULT IN IMMEDIATE TERMINATION OF THIS RENTAL AGREEMENT AND EVICTION. Rent can be paid by check unless any check is returned unpaid for any reason. Afterwards, rent can only be paid by money order or cash. *RENT IS DUE ON THE FIRST OF THE MONTH AND IS CONSIDERED LATE IF NOT PAID BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 4:00 P.M. ON THE 5TH OF THE MONTH. AFTER WHICH LATE CHARGES AS BELOW WILL BE INCURRED. The rent for the first month of this Lease shall be paid upon execution of this Lease. If the term does not commence on the first day of each the month, rental for the first fraction of the month shall be prorated and shall be payable together with the first full month's rent. Rents received after The rent shall be payable to LJMG and shall be paid to the tenth (10th) manager's office or to any agent designated in writing by LJMG on the first day of the month for which such fee is due, without any deduction or offset and without any notice or demand. A 3-Day Notice to Pay or Quit will be served on the 6th of the month will include a $25 late fee. Rent if payment is not received by the last day 5th. Tenant shall pay a late charge of the month will five percent (5%) of any amount that is due hereunder, provided that said late charge shall not be cause less than $5.00. LJMG and Tenant agree that such late charges are fair and reasonable compensation for costs incurred by LJMG where there is default in payment under this Lease. Such costs are extremely difficult to void this Lease Agreementestimate and ascertain, but such costs include processing and accounting charges. All rents Notwithstanding payment of such late charge, Tenant shall not be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may excused from time to time designate to Lessee any default nor shall there by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason any waiver of any default of Lessee or failure on Lessee's part to comply with the term of by LJMG under this Lease. There is a $25.00 fee for any returned check, shall be deemed plus applicable bank charges. There is a $195.00 reinstatement fee if service has been discontinued due to be additional non-payment or late payment of rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalor /s/ R.A. -------- Initial 2 charges.
Appears in 1 contract
Rent. Lessee 3.1. The rent ("Rent") payable during the Term under this Sublease ---- shall make be as set forth on Schedule C hereto. ----------
3.2. Upon the following rental payments execution of this Sublease, Sublessee shall pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor Sublessor the sum of $ * as rent hereunder Rent for the Demised Premises during the Initial Term a month of October. Thereafter all ------- ------- payments of Rent shall be in equal monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1installments and shall be made, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due in advance on the first twenty fifth (25th) day of each month. Rents received after month during the tenth Term (10th) of any except for the first and last month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease AgreementTerm). All rents The Rent and all other payments, if any, due and payable hereunder by Sublessee shall be paid made by check payable to Lessor without demand the order of "Ryder System, Inc." and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.addressed to Ryder Truck Rental, INC.Inc., 0000 XX 00 Xxxxxx, Xxxxx, XX 00000 XXXXXXX XX., KNOXVILLEAttention: Ryder System Inc., TN 37932 Comptroller or to such other person or at such other address place as Lessor Sublessor may from time to time designate in writing within thirty (30) days after receipt by Sublessee of request therefor.
3.3. In the event that Sublessee shall dispute any calculation of Rent charged to Lessee Sublessee by notice Sublessor, then Sublessee shall send to Sublessor a written notice, within 30 days of receipt by Sublessee of such charge, setting forth the basis for Sublessee's dispute. Sublessor and Sublessee shall thereupon use reasonable and good faith efforts to resolve such dispute. If the parties are unable to resolve such dispute within 30 days after submission by Sublessee of its dispute notice, then the parties shall designate an independent certified public accountant mutually acceptable to both parties (the "Independent Accountant") to resolve such dispute, and the fees and charges of ---------------------- the Independent Accountant shall be shared equally by the parties. Both parties shall provide the Independent Accountant with all information reasonably requested by the Independent Accountant in connection with its review of such dispute, and both parties shall request that the manner hereinafter providedIndependent Accountant complete its work expeditiously and issue a written report to both parties setting forth its determination. The written determination of the Independent Accountant shall be final and shall be binding upon both Sublessor and Sublessee. All taxes, charges, costs and expenses which Lessee is required disputes to pay be resolved pursuant to SECTION 3.01 or this Section 3.3 shall be so resolved in accordance with the principles and standards set forth in Section 3.5 below.
3.4. Sublessor shall furnish to Sublessee copies of any material statements and other sections hereofmaterial documents and information which are provided to Sublessor by Landlord pursuant to the Master Lease. Without limiting any other obligations of Sublessor hereunder, together Sublessor agrees it will, upon reasonable request from Sublessee, exercise on Sublessee's behalf, and at Sublessee's sole cost, any rights of Sublessor under the Master Lease to review and inspect records and otherwise obtain information from Landlord. * CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO AN APPLICATION FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
3.5. All calculations by Sublessor of Rent and any other amounts that are payable by Sublessee hereunder shall be made in accordance with all interest and penalties that may accrue thereon in the event of LesseeLandlord's failure past practices with respect to pay such amountsSublessor, and all damages, costs charges and expenses which Lessors may incur allocations relating to the Demised Premises and all accounting practices utilized by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies Sublessor with respect thereto as Lessor have for to amounts charged to Sublessee under this Sublease (including the nonpayment capitalization, amortization and expensing of the above specified monthly rentalcosts incurred and funds expended) shall also be made in such manner.
Appears in 1 contract
Samples: Sublease (Ryder TRS Inc)
Rent. Lessee shall make During each month of the following rental payments to Lessor:
(a) Lessee covenants and term of this Sublease, beginning January 1, 2006, Sublessee hereby agrees to pay Lessor to Sublessor Base Rent in the same amount as rent is owed by Sublessor under the Master Lease. No Rent (as hereinafter defined) shall be payable hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER until January 1, 2002 THROUGH SEPTEMBER 302006. In addition to Base Rent, 2007.
Sublessee shall pay its proportionate share of real estate taxes and operating expenses and other charges passed through to Sublessor under the Master Lease (ball, collectively, “Additional Rent”) together with any other charges and payments required of Sublessee hereunder. Sublessee shall pay Sublessor the Base Rent is due and Additional Rent (collectively, “Rent”), without offset or deduction, prior notice or demand, in advance on the first day of each calendar month of the term hereof beginning on January 1, 2006. If the Commencement Date is a day other than the first of a month. Rents received after , Rent for the tenth (10th) of any month will include a $25 late feein which the Commencement Date occurs shall be prorated. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off Sublessor at 0000 Xxxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, XX 00000. Where permitted by applicable law, if any payment of Rent is not paid when due, Sublessee shall pay the offices Sublessor upon demand, as a late charge, an amount equal to five percent (5%) of XXXXXXXXXX XXXXXX CONSTRUCTION CO.each Rent installment, INC.or any part thereof, 00000 XXXXXXX XX.which is overdue for more than ten (10) days. During the period of the Sublease Term from September 1, KNOXVILLE2005, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in December 31, 2005, the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required Sublessee shall have no obligation to pay pursuant Rent. Utilities for the period from September 1, 2005, to SECTION 3.01 or other sections hereofDecember 31, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease2005, shall be deemed paid by the Sublessor in an amount not to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.exceed $1.50 per
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants Tenant does hereby covenant and agrees agree to pay Lessor as rent hereunder to Landlord for rental of the Demised above-described Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS sum of Two Thousand Five Hundred and Fifty (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1S2550.00) per month with the March payment due upon signing this lease, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is and subsequent payments due on or before the first day of each month. Rents received after the tenth (10th) of any and every month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with thereafter during the term of this Leaselease. Provided, however, that the monthly rental shall be adjusted, effective with the rent due March 2002, and for all months during the remaining initial term of this Lease after said date. The rent due for the month of March 2000, and for aU months during the term of this lease during the years 2000 through 2005, shall be deemed to a minimum of $2550.00 and shaU be additional rent hereunder increased by 3% for year three, (hereinafter called the "Additional Rent"March 2002 through February 2003), and an additional 3% each year thereafter through the remaining term of the Lease. Rent amounts shall be as follows: Year one - S2550.00 per month Year two - 2550.00 per month Year three - 2626.00 per month Year four - 2705.00 per month Year five - 2786.00 per month SECURITY DEPOSIT. Tenant shall deposit with Landlord the sum of Two Thousand Five Hundred and Fifty Dollars (S2550.00) upon signing this lease. Said sum shall be held by Landlord as a security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease to be kept and performed by Tenant during the term hereof. If Tenant defaults with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of rent (including additional rent), Landlord may (but shall not be required to) use, apply or retain all or any part of this security deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of said deposit is to be used or applied, Tenant shaU within five (5) days after written demand therefor from Landlord, deposit cash with Landlord in an amount aufficient to restore the security deposit to its original amount and Tenant's failure to do so shall be a materiel breach of this Lease. Landlord shall not be required to keep this security deposit separate from its general funds, and Tenant shall not be entitled to interest on such deposit. If Tenant fully and faithfuUy performed every provision of this Lease to be performed by Tenant, the security deposit, or any balance thereof, shall be returned to Tenant (or assignee of Tenant's interest as outlined hereunder) at the expiration of the Lease term. In the event of nonpayment by Lessee within that the time period set forth aboveLandlord's interest in this lease is assigned to a successor, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalLandlord shaU transfer said deposit to Landlord's successor in interest.
Appears in 1 contract
Rent. a. Lessee covenants to pay to the Town without prior notice or demand thereof, and without any deductions or set-offs whatsoever, rent for the Premises (the “Rent”) in the initial annual sum of THIRTY FOUR THOUSAND SEVEN HUNDRED FORTY AND 00/100 DOLLARS ($34,740.00) per year, which shall be payable in equal monthly installment of TWO THOUSAND EIGHT HUNDRED NINETY-FIVE AND 00/100 DOLLARS ($2,895.00) . The first Rent payment shall be made within sixty (60) days of the Commencement Date and shall include all Rent due through the date of payment. On each anniversary of the Commencement Date, the Rent shall be automatically increased by three percent (3%) of the then current Rent. In addition to all other remedies provided in this Lease, if Lessee fails to pay within twenty (20) days of the due date, to Lessor any Rent, additional fees or other payments as hereinafter provided, Lessee shall make the following rental payments pay to Lessor:
, as an additional fee, a late payment fee equal to five percent (a5%) Lessee covenants of such delinquent payment for each and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007every month or part thereof that such payment remains unpaid or not paid in full.
(b) Rent is due on b. Town and Lessee agree that the first day monthly installment of each month. Rents received after Rent shall be paid upon the tenth (10th) execution of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents by Xxxxxx.. Subsequent payments of monthly installments of Rent shall be paid to Lessor without demand and without set-off the Town at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 Town’s address established in Section 17 hereof or at to such other address person, firm or place as Lessor the Town may from time to time designate in writing on or before the fifth (5th) day of each month. Lessee shall require receipt of a validly completed IRS approved W-9 form (or its equivalent) prior to Lessee by notice paying any Rent or any other amount(s) due under this Lease.
c. Lessee, in participation with other lessees of space on the Water Xxxxxx, agrees to pay a portion of the costs of structural upgrades to the Water Tower as outlined in the manner hereinafter provided. All taxesproposal from Xxxxxx Engineering Professionals, charges, costs attached hereto as Exhibit C. It is anticipated that the portion payable by Lessee shall total One hundred sixty-four thousand seven hundred and expenses 30/100 dollars ($164,700.30) which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder due no later than sixty (hereinafter called the "Additional Rent"), and in the event of nonpayment 60) days after receipt by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have of Town’s invoice for the nonpayment of the above specified monthly rentalsame.
Appears in 1 contract
Samples: Lease Agreement
Rent. 7.1 Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Leased Premises during the Initial Term a fixed monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1installments -- each installment to be paid in advance without prior notice, 2002 THROUGH SEPTEMBER 30demand, 2007.
(b) Rent is due abatement, deduction or set off on or before the first business day of each month. Rents received after calendar month during the tenth (10th) Term.
7.2 All payments to lessor accruing hereunder shall be made payable to Xxxxxx Limited Family Trust and shall be forwarded to the address hereinafter set forth for lessor or at such other place as lessor may designate from time to time by giving prior written notice to lessee.
7.3 If the Term should commence on other than the first,day of any a month will include a $25 late fee. Rent not received by or terminate an other than the last day of a month, then the month will be cause to void this Lease Agreement. All rents fixed rental installment for that the Term shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COapportioned on a thirty (30) day calendar month per diem basis., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to
7.4 Lessee by notice in the manner hereinafter provided. All taxes, charges, agrees that certain costs and and/or expenses which are the obligation of lessee hereunder and which accrue during the Term, but cannot be determined until after the end thereof shall survive the expiration of the Term of this lease.
7.5 Lessee recognizes that its failure to timely pay any monies and/or charges when due hereunder may cause lessor to incur unanticipated costs such as processing, accounting, and late charges that may be imposed on lessor under the Lease, its mortgage or deed of trust, the exact amount of which is required impractical and extremely difficult to ascertain-, therefore, if "lessor" does not receive any payment of monies and/or charges within five (5) days after same becomes due lessee agrees to pay pursuant lessor a late charge equal to SECTION 3.01 or other sections hereof, together with all interest five percent (5%) of the overdue amount. Such late charge representing a fair and penalties that may accrue thereon in reasonable estimate of the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may lessor will incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentallate payment.
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) In consideration of this Agreement, Lessee covenants and agrees to pay Lessor as to Lessor, in lawful money of the United States of America, net monthly base rent hereunder for (the Demised Premises during the Initial Term a monthly rent “Rent”) as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHSi). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due shall be payable in advance on the first day of each calendar month, without any notice, demand or setoff whatsoever. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received Unless otherwise specifically provided by the last day of the month will be cause written notice from Lessor to void this Lease Agreement. All rents Lessee, all sums shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other its address as Lessor may from time to time designate to Lessee by notice set forth in the manner hereinafter providedParagraph 23 hereof. All taxessums, chargesliabilities, costs obligations and expenses other amounts which Lessee is required to pay or discharge pursuant to SECTION 3.01 or other sections hereofthis Agreement in addition to Rent, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsany interest, and all damages, costs and expenses late fees which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Leasebe added for late payment thereof under Paragraph 4(c) below, shall be deemed to be constitute additional rent hereunder (hereinafter called the "“Additional Rent"”). For purposes of this Agreement, the term “Lease Year” shall mean a period of twelve (12) consecutive calendar months, the first of which shall begin on the Commencement Date. Each succeeding Lease Year shall commence upon the anniversary of the first Lease Year.
(c) If any payment required to be made by Lessee to Lessor under this Agreement shall not have been received by Lessor by 5:00 pm local time on the fifth (5th) day after the date such payment is due, then (i) in addition to such payments, and in order to partially compensate Lessor for the extra expense incurred in the handling of overdue payments, Lessee shall pay Lessor a late fee equal to the greater of (A) five percent (5%) of such overdue payment, or (B) two hundred fifty and 00/100 Dollars ($250.00), and (ii) such overdue payment shall bear interest, from the date such overdue payment was due until it is paid, the rate of six percent (6%) per annum (or, if lower, the highest legal rate). The late fee and interest set forth in this Paragraph shall not affect any other right or remedy available to Lessor as a result of a failure by Lessee to make any payment as required under this Agreement.
(d) As further consideration for the entering into this Agreement, Lessee shall reserve, for the benefit of Lessor, a minimum of twenty five (25) guaranteed slots as part of the educational program offered at the Leased Premises by the Lessee for students of Lessor, the Easton Area School District. The terms of such placement, together with the agreed upon required payments for the guaranteed reservation of the twenty five (25) slots as provided for in this paragraph, shall be memorialized through a separate agreement (the “Placement Agreement”) which shall be in substantially the same form as the document attached hereto, made a part hereof, and marked as Exhibit “C”. As the guaranteed slots referenced in this paragraph form a part of the consideration for entering into this Agreement, the Parties further agree that, in the event Lessor defaults in its obligation to provide payment for the guaranteed slots to Lessee, and following Lessee’s first providing Lessor with written notice of nonpayment such default and an opportunity to cure said default within ten (10) business days following receipt of such notice, Lessee shall have the option to terminate this Agreement. In the event Lessee terminates this Agreement by Lessee within the time period virtue of Lessor’s default in its obligations as set forth abovein this paragraph, Lessor the Parties shall have all no further liability to the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalother, whatsoever.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee Sublessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor Sublessor, as rent hereunder Base Rent for the Demised Premises Premises, the rental set forth in subparagraph D of Paragraph 1 hereof. Rent for the first and last months of the term hereof shall be prorated based upon the number of days during each of said months that the Initial Term a monthly Sublease term was in effect. All other rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due shall be payable on the first day of each monthcalendar month during the term hereof. Rents received after All such rent shall be paid in advance without deduction or offset at the tenth office of Sublessor or to such other person or at such other place as Sublessor may designate in writing. In the event Sublessee shall fail to pay, when the same is due and payable, any installment of the Base Rent or any additional rent to be paid by Sublessee to Sublessor under the terms of this Sublease, then such unpaid amounts shall bear interest from the due date thereof to the date of payment at the rate of twelve percent (10th12%) per annum. In any event, however, Sublessee shall be charged a service charge with respect to each monthly installment of any month will include a $25 late fee. Rent rental not received by the last fifth (5th) day of the calendar month for which said installment is due. Such service charge shall reimburse Sublessor for the additional administrative expenses incurred by Sublessor in connection with the collection of such late installment of monthly rental. The service charge shall be Twenty and 00/100ths Dollars ($20.00) for any rental not paid by the fifth (5th) day of the month will be cause to void this Lease Agreement. All rents shall be and Fifty and 00/100ths Dollars ($50.00) for any rental not paid to Lessor without demand and without set-off at by the offices fifteenth (15th) day of XXXXXXXXXX XXXXXX CONSTRUCTION COsuch month., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Rent. Lessee Section 3.01. The annual minimum rental from the Commencement Date and thereafter during the Term shall make be the following rental payments to Lessor:
sum of TWO HUNDRED ELEVEN THOUSAND NINE HUNDRED TWO and 00/100 (a$211,902.00) Lessee covenants and DOLLARS, which Tenant agrees to pay Lessor as rent hereunder for to Landlord in lawful money of the Demised Premises during the Initial Term a United States in equal monthly rent as follows: installments of SEVENTEEN THOUSAND SIX HUNDRED FIFTY EIGHT and 50/100 ($6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 117,658.50) DOLLARS each, 2002 THROUGH SEPTEMBER 30in advance, 2007.
(b) Rent is due on the first day of each calendar month during the Term hereof at the office of Landlord or such other place or to such other person or party as Landlord may designate, without prior demand therefor and without any setoff or deduction whatsoever, except as herein provided. Annual minimum rent and additional rent shall be prorated for a fraction of a month, if any, based on the number of days within such fractional month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received Unless and until otherwise designated by the last day of the month will be cause to void Landlord in writing all annual minimum rent and additional rent payable under this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off National Realty & Development Corp., at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO0 Xxxxxxxxxxxxxx Xxxx, Xxxxxxxx, Xxx Xxxx 00000., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided
Section 3.02. All taxes, charges, costs and expenses which Lessee is required Tenant assumes or agrees to pay pursuant to SECTION 3.01 or other sections hereofunder any provision of this Lease, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, any and all damagesother sums and legal fees which may become due, costs and expenses which Lessors may incur by reason of any default of Lessee Tenant or failure on Lessee's Tenant’s part to comply with the term provisions, covenants and conditions of this LeaseLease on Tenant’s part to be performed, and each or any of them, shall be deemed to be collectible and recoverable as additional rent hereunder (hereinafter called the "Additional Rent")rent, and and, in the event of nonpayment by Lessee within the time period set forth abovethereof, Lessor Landlord shall have all the rights and remedies with respect thereto herein provided as Lessor have for in the case of nonpayment of the above specified monthly rentalannual minimum rent.
Appears in 1 contract
Samples: Lease Agreement (Cyoptics Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) 3.1 Lessee covenants and agrees to pay Lessor as rent hereunder at the place provided herein for the Demised giving of notice to Lessor, as annual base rent for said Premises the sum of Thirty Five Thousand Eight Hundred Forty-Seven Dollars and Fifty Cents ($35,847.50) payable in monthly installments Two Thousand Nine Hundred Eighty-Seven Dollars and Twenty-Nine Cents ($2,987.29) for each month. Each monthly installment shall be paid in advance on the FIRST DAY of each and every calendar month during the Initial Term term hereof. If the term of this lease shall begin on a monthly day other than the 1st of a month, the Lessee shall pay a PRO RATA portion of a month's rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day the term commences and thereafter the Lessee shall pay a succeeding monthly installment on the 1st day of each succeeding month. Rents received after Under no circumstances shall Lessee be entitled to withhold any rent due hereunder or setoff against the tenth (10th) same on account of Lessor's purported failure to perform any month will include of its obligations hereunder.
3.2 Any payment by Lessee or acceptance by Lessor of a $25 late feelesser amount than shall be due from Lessee to Lessor shall be treated as a payment on account. Rent not received The acceptance by Lessor of a check or payment for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such a check or payment, that such lesser amount is payment in full, shall be given no effect and Lessor may accept such check or payment without prejudice to any other rights or remedies which Lessor may have against Lessee.
3.3 Lessee covenants and agrees to pay Lessor at the last day place provided herein for the giving of notice to Lessor, as additional rent during the term hereof Lessee's PRO RATA share, which is hereby defined and agreed as being 19.626% of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which defined in paragraphs 6.3, 7.2, 10.1 and 19.1 of this Lease. Lessee is required to shall pay pursuant to SECTION 3.01 or other sections Lessor such additional rent in monthly installments coincidental with the monthly base rental payments as set forth in paragraph 3.1 hereof. Lessee acknowledges that Lessor may adjust, together with all interest and penalties that may accrue thereon in once every month, the event amount of Lessee's failure monthly installments to pay such amounts, and all damagescover any difference between the actual charges, costs and expenses which Lessors may incur incurred by reason Lessor and the amount of any default of Lessee or failure on the monthly installments paid by Lessee. It is agreed that Lessee's part additional rent in monthly installments shall be One Thousand Six Hundred Eight Dollars and Fifty-Four Cents ($1,608.54) until notification of further adjustment in accordance with this Lease. In addition to comply with the foregoing, Lessor may make assessments for expenses incurred which are over and above the monthly installments paid by Lessee, for any period during the term of this Lease.
3.4 If Lessee shall fail to make payment of any installment of Base Rent or any Additional Rent after the date when such payment is due, Lessee shall be deemed pay to be additional rent hereunder (hereinafter called the "Lessor, in addition to such installment of Base Rent or such Additional Rent"), as the case may be, as a late charge and in as Additional Rent, a sum equal to two (2%) percent per annum above the event then current prime rate charged by Bank of nonpayment by Lessee within the time period set forth aboveNew Hampshire, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment Nashua, New Hampshire or its successor of the above specified monthly rentalamount unpaid computed from the date such payment was due to and including the date of payment.
Appears in 1 contract
Samples: Lease (Skillsoft Public Limited Co)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor as rent hereunder for to Landlord, without deduction or offset, minimum annual rental ("MINIMUM ANNUAL RENT"), in the Demised Premises amounts set forth on Exhibit B hereto, payable in lawful money of the United States of America in equal monthly installments during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS of this lease. Minimum Annual Rent shall be paid in advance, on or before the first day of each month during the Term of this lease (60 MONTHSthe "DUE DATE"). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) The Tenant shall pay all Rent and other charges to be paid by the Tenant hereunder to the Landlord at its address set forth in Section 29, or to such other individual, firm or corporation and at such other place as may be designated by the Landlord. If the Commencement Date is due not the first day of a calendar month, the Tenant shall also pay on the first day of each monththe first calendar month following the Commencement Date a proportionate amount of the Minimum Annual Rent for the period of time from the Commencement Date to the date on which such first monthly payment is due. Rents Rent shall be deemed paid on the date payment is received by Landlord. In the event Tenant fails to pay any installment of monthly Minimum Annual Rent by the Due Date and such failure continues for seven (7) days after the tenth notice thereof from Landlord, Tenant shall promptly pay to Landlord a service charge of ten percent (10th10%) of any month will include the monthly Minimum Annual Rent then due; provided, if such a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofbe given twice during any twelve (12) month period during the Term of this lease, together with all interest and penalties that may accrue thereon in the event of Lessee's any subsequent failure to pay Minimum Annual Rent within seven (7) days of the Due Date occurring within the same twelve (12) month period shall result in such amountsa service charge without any notice being required. If any installment of Minimum Annual Rent is not paid within fifteen (15) days after the Due Date, the monthly Minimum Annual Rent, as increased by the 10% service charge, if applicable, shall bear interest at an annual rate equal to Wachovia Bank prime plus five percent (the "DEFAULT RATE"). This provision shall not be construed to adjust, alter, or modify the Due Dates specified in this lease, nor shall the payment of any interest required by this Section be deemed to cure or excuse any default by Tenant under this lease. Except as otherwise expressly stated, each payment required to be made by Tenant pursuant to the provisions of this lease shall be in addition to and not in substitution for other payments to be made by Tenant.
(c) The term "ADDITIONAL RENT" as used herein shall mean all sums payable by Tenant under this lease (other than Minimum Annual Rent), and all damages, costs and expenses which Lessors may incur any sums expended by reason of Landlord to cure any default of Lessee or failure on Lessee's part to comply with the term of this Leaseby Tenant, and shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event for purposes of nonpayment by Lessee within the time period set forth above, Lessor shall have all the Landlord's rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalthereto.
Appears in 1 contract
Samples: Deed of Lease (Elizabeth Arden Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Xxxxxx agrees to pay Lessor to Landlord, as rental for said term, as follows $ per month, in advance, with the first month's rent hereunder for becoming due upon
(i) the Demised Premises during execution of this Rental Agreement or,
(ii) the Initial Term a monthly rent as follows: $6,000/MONTH FOR RENT IS DUE AND PAYABLE ON THE FIRST 5 YEARS (60 MONTHS)DAY OF EACH MONTH!! Checks should be made payable to Xxxxxxxx Construction Inc. Rent should be mailed to 0000 Xxxxxxxx Xxxx, Xxxxxxx, XX 00000. INCREASE BY 10% TO There will be a late rent service charge on all over due rents: more than five days late but less than eleven $6,600/MONTH STARTING WITH OCTOBER 115.00, 2002 THROUGH SEPTEMBER 30in the event that the rent is more than 11 days delinquent the tenant shall incur an a additional charge of $25.00. Late fees identified herein are cumulative and a total of $40.00 per month can be incurred. This charge is necessary because of the additional paperwork and book- keeping expense of handling late payments. All rent or deposit checks returned by the bank because of insufficient funds shall be charged x $25.00 NSF fee in addition to the late fee charged. Please note that all received payments by a landlord shall first be applied to late fees incurred. Any remaining proceeds shall be applied to rent, 2007.
(b) Rent with the rent being paid in the order in which it is due on incurred, which application result in the first day last will rent incurred being paid last. This provision shall govern the application of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not all payments received by the last day of landlord from the month will tenant unless otherwise agreed to by the landlord and tenant and documented in writing. Prorated rent for early move in shall be cause to void this Lease Agreement$ _/day x days = $ . All rents rules and regulations and lease agreement conditions shall be paid to Lessor without demand and without set-off applicable at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COthis time., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Dwelling Unit Rental Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) 1. Lessee covenants and agrees to pay to Lessor rent of any kind or nature, including Monthly Rent (as hereinafter defined) and any sums, charges, expenses and costs identified in this Lease as additional rent hereunder to be paid by Lessee to Lessor. Lessee's obligation to pay rent shall begin on the Commencement Date and shall continue to remain an obligation of Lessee until completely satisfied. Lessee shall make all payments of rent by check, payable to the Lessor's agent, Virginia Management, Inc., 0000 X. Xxxxxxx Xxxxx, Xxxxx 0000, Xxxxxxxxx, Xxxxxxxx 00000, or to such other party or to such other address as Lessor may designate from time to time by written notice to Lessee, without demand and without deduction, set-off or counterclaim. If Lessor at any time or times accepts rent after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute, or be construed as, a waiver of any or all of Lessor's rights hereunder. If the Lessee's checks are returned and not paid more than two (2) times during the Term, the Lessor shall have the right to thereafter require the Lessee to pay all rent by certified or cashiers checks.
2. The monthly rent for the Fourth Floor Demised Premises (hereinafter referred to as "Fourth Floor Monthly Rent") as of the Fourth Floor Commencement Date, which Lessee hereby agrees to pay in advance to Lessor and Lessor hereby agrees to accept, shall be TWENTY NINE THOUSAND NINE HUNDRED NINETY SIX AND 50/100 Dollars ($29,996.50). Commencing on the Fifth Floor Commencement Date the month rent for the Demised Premises (hereinafter referred to as "Monthly Rent") shall be FIFTY NINE THOUSAND NINE HUNDRED NINETY THREE AND 00/100 Dollars ($59,993.00).
3. Commencing on December 1, 2000 , and each twelve (12) months during (i) the Initial Term and (ii) Extended Term from and after the first Lease Year of such Extended Term, if applicable, (with the understanding that there shall be no such adjustment for the first Lease Year of the Extended Term) the Monthly Rent shall be increased by a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS sum equal to three percent (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 20073%) of the Monthly Rent during the preceding twelve month lease period.
(b) 4. Monthly Rent is due as specified above shall be payable in advance on the first day of each month. Rents received after the tenth (10th) of any calendar month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with during the term of this Lease.
5. If the Fourth Floor Commencement Date, and therefore the obligation under the Lease to pay Fourth Floor Monthly Rent, or if the Fifth Floor Commencement Date, and therefore the obligation under the Lease to pay Monthly Rent, whichever is applicable hereunder, begins on a day other than the first day of a calendar month, then Monthly Rent from such date until the first day of the following calendar month shall be prorated at the rate of one-thirtieth (1/30th) of Monthly Rent for each day of that month from and including the particular Commencement Date, payable in advance, as specified above.
6. Any payment required to be made by the Lessee in addition to the Monthly Rent including but not limited to increases in operating expenses, consumer price index escalation and real estate taxes and other taxes or assessments shall be deemed to be additional rent hereunder (hereinafter called rent.
7. Lessee shall pay the "Additional Rent"), and in the event first installment of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have Monthly Rent for the nonpayment Fourth Floor Demised Premises concurrent with execution of this Lease. Lessee shall pay the first installment of Monthly Rent for the Fifth Floor Demised Premises on or before the date construction of the above specified monthly rentalLessor's Work for the Fifth Floor shall commence.
Appears in 1 contract
Samples: Office Lease (Cais Internet Inc)
Rent. Commencing on the Commencement Date, Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of One Hundred Four Thousand and 00/100 Dollars ($104,000.00) per month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment as provided in Section A of this Paragraph. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)104,000.00 shall be paid upon execution of the Lease, which sum represents the amount of the first month's rent. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due shall be paid in advance on the first (1st) day of each monthcalendar month as follows: Months Monthly Rent/NNN ------ ---------------- 01-12 $104,000.00 EXHIBIT A 18 13-24 $107,120.00 25-36 $110,334.00 37-48 $113,644.00 49-60 $117,053.00 Rent for any period during the term hereof which is for less than one (1) full month shall be a prorate portion of the monthly rent payment. Rents received after Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the tenth (10th) exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within five (5) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of five percent (5%) of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee's default with respect to void this Lease Agreementthe overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor.
A. Cost-of-Living Increase. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CONot applicable., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided.
B. All taxes, insurance premiums, late charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofhereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs costs, and attorney's fees and expenses which Lessors Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the hereinafter, "Additional Rent"), and and, in the event of nonpayment non-payment by Lessee within the time period set forth aboveLessee, Lessor shall have all of the rights and remedies with respect thereto as Lessor have has for the nonpayment non-payment of monthly installment of rent. Notwithstanding anything in this Paragraph 3.B. or elsewhere in the Lease to the contrary: from and after the commencement date, lessee shall pay to Lessor on the first day of each calendar month of the above specified monthly rental.lease term an amount estimated by Lessor to be 1/12th of the annual total of Additional Rent as defined herein. Additional Rent shall include reimbursement for all out-of-pocket expenses as defined in Paragraph 10 of this Lease, except that property taxes and property insurance premiums shall be invoiced separately to Lessee as billed by the taxing authority and insurance carrier, and Lessee shall be obligated to pay said property taxes and insurance premiums in accordance with Paragraphs 8 and 9, respectively. Within ninety (90) days following the end of each calendar year Lessor shall furnish Lessee with a statement setting forth (i) the actual expenses incurred by Lessor in the calendar year for which Lessor is entitled to receive Additional Rent, and (ii) the payments of Additional Rent actually made by Lessee with respect to such period; if Lessee's payments of Additional Rent are less than the amount of Additional Rent to which Lessor is entitled (based on actual expenses), Lessee shall pay Lessor the deficiency within ten (10) business days after receipt of such statement; if Lessee's payments of Additional Rent exceed the amount of Additional Rent to which Lessor is entitled (based on actual expenses), Lessor shall offset the excess against the Additional Rent next thereafter to become due to Lessor. Lessee shall have the right to review Lessor's books and records from time to time to verify the Additional Rent charges hereunder. Prior to commencement of this Lease, and on an annual or semi-annual basis thereafter, Lessor shall determine the amount of the Additional Rent as described herein, based on a review of the then-current operating costs of the subject property. Concurrent
Appears in 1 contract
Samples: Sublease (McAfee Associates Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor Landlord, as rent hereunder for the Demised Premises during the Initial Term a monthly rent said term, as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)___________________ per month in advance. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due Rent shall be paid on or before the first 1st day of each month during the term of this Agreement and shall be considered delinquent after the 5th day of each month. Rents *Payments received after 4:59 pm in-person or 11:59 pm online on the tenth (10th) 5th of any month will include a $25 late fee. Rent not received by the last day of the each month will be cause considered late and will incur a late charge. Initial: _______________ Per Iowa Code §562A.9 – “For rental agreements in which the rent does not exceed seven hundred dollars per month, a rental agreement shall not provide for a late fee that exceeds twelve dollars per day or a total amount of sixty dollars per month. For rental agreements in which the rent is greater than seven hundred dollars per month, a rental agreement shall not provide for a late fee that exceeds twenty dollars per day or a total amount of one hundred dollars per month.” All payment required pursuant to void this Lease Agreement. All rents Agreement shall be paid payable to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Top Priority Property Management by money order or cashier’s check mailed or delivered to Top Priority Property Management 000 Xxxxxxxxxx Xxx Xxxxxxxx, INC.Xxxx 00000, 00000 XXXXXXX XX.or by EFT on designated tenant website. Initial: _______________ If payment made is returned for insufficient funds or stopped payment, KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, Tenant shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), charged $75.00 as reimbursement for expenses incurred by Landlord and in the event of nonpayment by Lessee within the time period set forth above, Lessor Landlord shall have the right but not the obligation to issue a written demand that all the rights future payments be paid by cashier’s check or money order. Nothing herein limits other remedies available to Landlord as payee of a dishonored payment. Tenant and remedies Landlord agree that three (3) or more dishonored payments in a twelve (12) month period shall constitute material noncompliance with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalthis Agreement.
Appears in 1 contract
Samples: Residential Rental Agreement
Rent. Lessee shall make the following rental payments to Lessor:3
(a) Lessee covenants and agrees Tenant shall pay to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS Landlord (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause or to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address party as Lessor Landlord may from time to time designate to Lessee specify in writing at least ten days before Tenant makes payment) by notice federal funds wire transfer in immediately available funds (in U.S. Dollars) (or, if the original Landlord has sold the Premises or there has been a sale of the ownership interest in the manner hereinafter provided. All taxesoriginal Landlord, chargesby company check) as basic rent for the Premises during the Primary Term the amounts set forth in Schedule D attached hereto and made a part hereof (the "Basic Rent") on the dates set forth therein (or if any such date falls on a day which is not a Business Day (defined as any day other than a Saturday or Sunday or other day on which the banks in New York, costs and expenses which Lessee is New York are authorized or required to pay pursuant to SECTION 3.01 or other sections hereofbe closed), together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsnext succeeding Business Day, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional RentPayment Dates"), and to such account as Landlord from time to time may designate. Tenant shall pay Basic Rent for the Extended Terms, if any, in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto same manner as Lessor have required for the nonpayment Primary Term, monthly in advance beginning on the 15th day of the above specified monthly rentalfirst month of the First Extended Term and on the 15th day of each month thereafter for the remainder of the Term. The Basic Rent for each month of the first year of the first Extended Term shall be equal to the greater of (i) 101.5% of the Basic Rent for the last month of the Primary Term and (ii) the Fair Market Rent for the Premises as of the commencement of the first Extended Term. The annual Basic Rent for the second year of the first Extended Term and for each year thereafter for the remainder of the Term shall be increased by 1.5% annually, but 1/12 of such annual Basic Rent shall be payable each month in advance.
Appears in 1 contract
Samples: Lease Agreement (Windrose Medical Properties Trust)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants Beginning on the Commencement Date and agrees to pay Lessor as rent hereunder for the Demised Premises continuing thereafter during the Initial Term a entire initial term of this Lease, Tenant shall pay to Landlord, as yearly rent, the following sums ("BASE RENT"), in equal monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1installments, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due in advance on the first day of each calendar month, without demand or notice: Lease Month Rentable Sq. Rents received after Feet Annualized Base Rent Monthly Base Rent Base Rent Rate/SF 1-60 First Fl. 13,640 $122,760.00 $10,230.00 $9.00 sq. ft. Second Fl. 7,780 81,690.00 6,807.50 $10.50 sq. ft. TOTAL 21,420 $204,450.00 $17,037.50
(b) In the tenth event that the Commencement Date occurs on a day other than the first day of a calendar month, Tenant shall pay to Landlord a pro rata portion of the monthly installment of Base Rent for such partial month, computed at the annual Base Rent rate of $9.00 rentable square foot for the first floor and $10.50 per rentable square foot for the second floor.
(10thc) Whenever under the terms of this Lease any sum of money is required to be paid by Tenant in addition to the Base Rent herein reserved, and said additional sum is not designated as "Additional Rent," then if not paid when due, said sum shall nevertheless be deemed "ADDITIONAL RENT" and be collectible as such with any installment of Base Rent thereafter falling due hereunder, but nothing herein contained shall be deemed to suspend or delay the payment of any month will include a $25 late fee. such sum at the time the same became due and payable hereunder, or limit any other remedy of Landlord.
(d) All payments of Base Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents and Additional Rent shall be paid when due at 0000 Xxxxxxx Xxxx, Xxxxx 000, Xxxxxxxxx, Xxxxxxxxxxxx 00000, or by mailing the same to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Xxxx Xxxxxx Xxx 00000, INC.Xxxxxx Xxxxxx, 00000 XXXXXXX XX.Xxxxxxxxxxxx 00000, KNOXVILLE, TN 37932 or at such other address place as Lessor Landlord may from time to time designate direct by written notice to Lessee by notice in the manner hereinafter providedTenant. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, checks shall be deemed made payable to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event order of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalLandlord.
Appears in 1 contract
Rent. A. Lessee shall make pay to the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: term hereof the sum $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER X,XXX.XX per year, payable annually in advance without demand, beginning July 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 201X and continuing on the first same day of each month. Rents received after and every year thereafter during the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day term of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off lease at the offices office of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 the Lessor set forth in Section 7.8 or at such other address place as the Lessor may designate in writing.
1. In addition, Lessee shall pay the prorated amount from execution of lease to
2. Failure to pay rent by the thirtieth day after the due date shall obligate the Lessee to pay a late charge of $100.00, which sum is agreed to a reasonable estimate of the Lessor’s damages for late rental payments and shall not be construed as a penalty or a limitation on Lessor’s remedies.
3. This late charge is in addition to a 12 percent daily interest rate.
B. All rent shall be payable in current legal tender of the United States. Payment may be tendered by check, but payment shall not be made in fact until such check has been honored by the drawee bank. The tender of payment by check within the time provided shall be deemed sufficient to meet any due date only if the check is subsequently honored by the drawee bank and the Lessor subsequently receives the legal tender required by this Lease. Any subsequent dishonor and non-receipt of rent payment shall constitute a default of this Lease.
C. The extension of time designate for the payment of any installment of rent, or the acceptance by the Lessor of any money other than of the kind herein specified, shall not be a waiver of the right Lessor to Lessee by notice insist on all other payments of rent to be made in the manner hereinafter providedand at the time herein specified. The acceptance by the Lessor of a past due installment payment shall not waive the Lessor’s right as to any other default or breach of the Lease.
D. The rent herein specified shall be net to the Lessor and such payment shall not be subject to any abatement, deduction or off set (except as otherwise provided in this Lease).
E. All taxes, charges, costs costs, expenses, utilities and expenses assessments which the Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountshereunder, and all damages, costs and expenses which Lessors the Lessor may incur by reason of any default of the Lessee or failure on the Lessee's ’s part to comply with the term terms of this the Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth aboveLessee, the Lessor shall have all the rights and remedies with respect thereto as that the Lessor have has for the nonpayment of the above specified monthly rentalbasic rent.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee A. The initial annual rent shall make the following rental payments to Lessor:
be Six Thousand Dollars (a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS ), divided into twelve equal monthly installments of Five Hundred Dollars (60 MONTHS$500) (“Rent”). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Tenant shall pay promptly to Landlord the monthly installment of Rent is due on the first day of each monthmonth in advance during the term of the Lease, without deduction, setoff, prior notice or demand.
B. The Rent will be readjusted annually for each succeeding year beyond the initial year as follows: Fiscal Year Date Range Monthly Rent 2022-23 July 1, 2022 – June 30, 2023 $500 End of Original Term 2023-24 July 1, 2023 – June 30, 2024 $500
C. Tenant acknowledges that late payment by Tenant to Landlord of the monthly rent and other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Rents Such costs include, but are not limited to, processing and accounting charges. Accordingly, if any installment of rent or any other sum due from Tenant shall not be received by Landlord by 4:00 p.m. within ten (10) days after the tenth such amount shall be due, Tenant shall pay to Landlord, as additional rent, a late charge equal to three percent (10th3%) of any month will include such overdue amount or the maximum amount allowed by law, whichever is less. The Parties hereby agree that such late charges represent a $25 late fee. Rent not received by the last day fair and reasonable estimate of the month costs Landlord will be cause incur by reason of late payment by Xxxxxx. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to void this Lease Agreement. All rents shall be paid to Lessor without demand such overdue amount, nor prevent Landlord from exercising any of its other rights and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COremedies granted hereunder.
D. Taxes, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, late charges, costs and expenses which Lessee Tenant is required to pay pursuant to SECTION 3.01 or other sections hereofhereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's Tenant’s failure to pay such amounts, and all reasonable damages, costs costs, and expenses which Lessors Landlord may incur by reason of any default of Lessee Tenant or failure on Lessee's Tenant’s part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "“Additional Rent")”) and, and in the event of nonpayment by Lessee within the time period set forth aboveTenant, Lessor Landlord shall have all of the rights and remedies with respect thereto as Lessor have Landlord has for the nonpayment of the above specified monthly rentalrent.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS :
(60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1b) The aforesaid rent amount is inclusive of an estimated expense for utilities, 2002 THROUGH SEPTEMBER 30taxes, 2007insurance and janitorial services and may be adjusted annually as provided in Section 3.01.
(bc) Rent is due on the first day of each month. Rents received after the tenth (10th) day of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Pellissippi Pointe LLC, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided.
(d) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Option Terms as monthly rent an amount as follows:
(1) Each year of the initial term and each year of the subsequent Option Period the rent shall be adjusted by the amount of the change in the Consumer Price Index (CPI) cost of living as reported by the Federal Government with a maximum of 2.5% per year. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION Section 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and and, in the event of nonpayment by Lessee within the time period set forth aboveLessee, Lessor shall have all the rights and remedies with respect thereto as Lessor have has for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Rent. Lessee shall make the following 2.1 The annual base rental payments to Lessor:
(ahereinafter called "Annual Base Rental") Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: shall be TWO HUNDRED FORTY EIGHT THOUSAND NINE HUNDRED FORTY AND 50/100 DOLLARS ($6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS248,940.50). INCREASE BY 10% TO The Annual Base Rental shall be payable in equal monthly installments of TWENTY THOUSAND SEVEN HUNDRED FORTY FIVE AND 04/100 DOLLARS ($6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
20,745.04) (bhereinafter called "Base Rent") Rent is due in advance on the first day of each and every calendar month during the Lease Term. Base Rent shall be prorated at the rate of 1/30th of the Base Rent per day for any partial month. Rents received after Beginning February 1, 2000, and each February 1 thereafter throughout the tenth Lease Term, the Annual Base Rental and Base Rent shall automatically increase by an amount equal to three percent (10th3%) over the preceding twelve months Annual Base Rental and Base Rent.
2.2 Lessee shall pay the rent and all other sums, amounts, liabilities, and obligations which Lessee herein assumes or agrees to pay (whether designated Base Rent, additional rent, costs, expenses, damages, losses, or otherwise) (all of which are hereinafter called "Amount Due") as herein provided promptly at the times and in the manner herein specified without deduction, setoff, abatement, counterclaim, or defense except as otherwise provided in this lease. If any month will include a $25 late fee. Rent Amount Due is not received by Lessor on or before the last day date on which it is due, Lessee shall pay Lessor a late charge equal to five percent (5%) of the month will be cause to void this Lease Agreement. All rents shall be amount of such past due payment, notwithstanding the date on which such payment is actually paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at Lessor. If such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee Amount Due is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder not paid within thirty (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment 30) days of the above specified monthly rental.date on which it was originally due, then, in addition to such late charge, Lessee shall pay Lessor interest on such Amount Due from the date on which it was originally due until the date it is actually paid at a rate per annum equal to the lesser of (i) the prime rate of interest announced by
Appears in 1 contract
Samples: Lease (Fundtech LTD)
Rent. Lessee The rents reserved under this Lease, which shall make be payable throughout the following rental payments to Lessor:
Term commencing with the Commencement Date, shall be and consist of (a) Lessee covenants and agrees to pay Lessor as fixed rent hereunder for (herein called "Fixed Rent") in the Demised Premises amount of (1) ONE HUNDRED ONE THOUSAND SIX HUNDRED FORTY AND 00/100 ($101,640.00) DOLLARS per year, payable in equal monthly installments of $8,470.00 during the Initial Term a three (3) year period commencing on the Commencement Date and ending on March 31, 1998 and (ii) ONE HUNDRED THIRTEEN THOUSAND NINE HUNDRED SIXTY AND 00/100 ($113,960.00) DOLLARS per year, payable in equal monthly rent as follows: installments of $6,000/MONTH FOR THE FIRST 5 YEARS 9,496.67 during the two (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 2) year period commencing on April 1, 2002 THROUGH SEPTEMBER 301996 and ending on the Expiration Date (except that Tenant shall pay, 2007.
upon the execution and delivery of this Lease by Tenant, the sum of $8,470.00, to be applied against the first installment of Fixed Rent becoming due under this Lease), and (b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter herein called the "Additional Rent"), ) consisting of all other sums of money as shall become due from and payable by Tenant to Landlord hereunder for non-payment of which Landlord shall have the same remedies as for a default in the event payment of nonpayment by Lessee within the time period set forth aboveFixed Rent, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment to be paid in lawful money of the above specified monthly rentalUnited States to Landlord at the office of the Managing Agent, or to such other person and/or at such other place as Landlord may designate by notice to Tenant. (Fixed Rent and Additional Rent are herein sometimes collectively called "Rent").
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1----
A. During the Term of the Lease, 2002 THROUGH SEPTEMBER 30Lessee shall pay to the Lessor basic rent in lawful money of the United States, 2007.
(bin equal monthly installments of Eleven Thousand Six Hundred Sixty-Six Dollars and Sixty Seven Cents($11,666.67) Rent is due in advance, on the first day of each month. Rents received after If the tenth (10th) of any month will include a $25 late fee. Rent not received by the last first day of the Term is other than the beginning of a calendar month, the basic rent for the first month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off prorated.
B. All Rent shall be payable at the offices Lessor's place of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 business or at such other address place as Lessor may from time designate in writing.
C. As additional rent, it is the intention of the Lessor and the Lessee that the rent herein specified shall be net to time designate the Lessor in each year during the Term of this Lease, that all costs, expenses, taxes, charges and obligations of every kind relating to the Premises, including, but not limited to the costs of maintaining and repairing the Premises, which may arise or become due during the Term of this Lease shall be paid by the Lessee, and that the Lessor shall be indemnified by the Lessee by notice in the manner hereinafter provided. against such costs, taxes, expenses, charges and other obligations.
D. All taxes, charges, costs costs, expenses and expenses other obligations which the Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofhereunder, together with all interest and penalties that may accrue thereon in the event of the Lessee's failure to pay such amountsamounts when due, and all damages, costs costs, and expenses which Lessors the Lessor may incur by reason of any default of the Lessee or failure on the Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent")rent, and in the event of nonpayment by Lessee within the time period set forth aboveLessee, the Lessor shall have all the rights and remedies with respect thereto as the Lessor have has for the nonpayment of the above specified monthly rentalbasic rent.
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder the Base Rent (hereinafter def,.n,;) for the Demised Premises during the Initial Term a plus applicable Florida sales tax Base Rent shall be paid, without offset or deductions, in monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS installments (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b"Base Rent") Rent is due on the first day of each month. Rents received after and every month in advance during the tenth Term as follows: Period Base Rent Per Month June 1, 2000 November 30, 2000 $4,000.00 (10thJune and July rent is free) of any month will include a December 1, 2000 May 31, 2001 $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents 4,500.00 June 1, 2001 November 30, 2001 $5,000.00 December 1, 2001 May 31, 2002 $5,300.00 Lessee shall be paid pay six (6%) percent sales tax to Lessor without demand and without set-off with each monthly installment. Lessee shall pay rent to Lessor at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 Lessor's address set forth in paragraph 20 hereof or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter providednotifies Lessee. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, Payments shall be deemed to paid on the date payment is actually received by Lessor. Any monthly Base; Rent not received by Lessor before the sixth (6th) day of the month shall be additional rent hereunder (hereinafter called the "Additional Rent")delinquent, and in the event of nonpayment any such installment remains unpaid after four (4) business days following the receipt by Lessee within of notice of such delinquencies, whether by telephone, by facsimile, by mail, or by hand, such installment shall be subject to a five percent (5%) late charge payable immediately as additional rent. In the time period set forth aboveevent Lessee fails to pay rent additional true or any other sum due hereunder on or before the ninth day after such amount is due and payable, Lessor such overdue payment (increased by the 5% late charge, if applicable) shall have all bear interest at the rights rate of eighteen percent (18%) per annum. These provisions shall not modify the due dates and remedies with respect thereto as Lessor have for the nonpayment payment of the above specified monthly rentalany interest required by this paragraph shall not be deemed to cure or excuse any default by Lessee.
Appears in 1 contract
Samples: Lease Agreement (Magicinc Com)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor to Landlord, as rental for said term, as follows $ per month, in advance, with the first month's rent hereunder for becoming due upon
(i) the Demised Premises during execution of this Rental Agreement or,
(ii) the Initial Term a monthly rent as follows: $6,000/MONTH FOR RENT IS DUE AND PAYABLE ON THE FIRST 5 YEARS (60 MONTHS)DAY OF EACH MONTH!! Checks should be made payable to Xxxxxxxx Construction Inc. Rent should be mailed to 0000 Xxxxxxxx Xxxx, Xxxxxxx, XX 00000. INCREASE BY 10% TO There will be a late rent service charge on all over due rents: more than five days late but less than eleven $6,600/MONTH STARTING WITH OCTOBER 115.00, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent in the event that the rent is due on more than 11 days delinquent the first day tenant shall incur an a additional charge of each month$25.00. Rents received after Late fees identified herein are cumulative and a total of $40.00 per month can be incurred. This charge is necessary because of the tenth (10th) additional paperwork and book- keeping expense of any month will include handling late payments. All rent or deposit checks returned by the bank because of insufficient funds shall be charged a $25 25.00 NSF fee in addition to the late feefee charged. Rent not Please note that all received payments by a landlord shall first be applied to late fees incurred. Any remaining proceeds shall be applied to rent, with the rent being paid in the order in which it is incurred, which application result in the last will rent incurred being paid last. This provision shall govern the application of all payments received by the last day of landlord from the month will tenant unless otherwise agreed to by the landlord and tenant and documented in writing. Prorated rent for early move in shall be cause to void this Lease Agreement$ _/day x days = $ . All rents rules and regulations and lease agreement conditions shall be paid to Lessor without demand and without set-off applicable at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COthis time., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Dwelling Unit Rental Agreement
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during premises an amount equal to seven (7%) annually of the Initial Term IDA's gross investment, on a monthly basis, together with sales tax. Th,e IDA's total investment will be no less than $3,500,000 and not greater than $4,000,000. For example, if the IDA's total investment in the premises is $3,500,000, the monthly rent as follows: payable will be $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)20,416 plus sales tax due. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is The first payment to be due on the first 1st day of each monthmonth following Lessee's taking possession of the premises. Rents received after However, Lessee may defer monthly rent payment for a period not to exceed thirty six (36) months to the tenth (10th) of any month will include a $25 late fee. Rent not received by the last 1st day of the thirty seventh (37th) month will be cause following taking possession, in which case such deferred rent shall accrue with an additional three percent (3%) annually of the total deferred monthly rent with payments amortized over the remainder of the lease term rental payments. Lessee shall have the right to void prepay rent at any time. In the event Lessee exercises this Lease Agreement. All rents right to prepay rent, the prepaid rent shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofassigned its present day value, together with interest rate based on current ten (10) year treasury note. Additionally, Lessee agrees to reimburse the Lessor the ad valorum taxes and property casualty insurance paid from the issuance of the certificate of occupancy through date it takes possession. XXX agrees to credit portions or all interest of the lease payments, minus ad valorum taxes and penalties any property insurance obligations, against purchase price subject to the following: Lessor hereby gran ts unto Lessee an option to buy the leased premises, including all improvements contained on the premises at any point during an initial 10 year lea e term, and any extensions or renewals thereof. Lessor agrees that may accrue thereon the option purchase price for the leased premises (including all improvements contained on the premises) will be equal to the IDA's total gross investment in the event development of the premises (anticipated to be $3,500,000 - $4,000,000) or the appraised value at the time of exercise of option, whichever is less. Lessor agrees that if Lessee elects to exercise the option contemplated in this section, Lessee shall be credited a percentage of all lease payments made (reduced by property taxes and insurance paid by XXX} as set forth immediately below.
1. Fifty percent (50%) of all rent payments paid by Lessee shall be applied at such time as Lessee creates, fills and maintains for each annual period twelve (12) full-time positions in Xxxxxx County;
2. Seventy-five percent (75%) of al rent payment paid by Lessee shall be applied at such time as Lessee creates, fills and maintains for each annual period eighteen (18) full-time jobs in Xxxxxx County;
3. One Hundred percent (100%) of all rent payment paid by Lessee shall be applied at such time as Lessee creates, fills and maintains for each annual period twenty-four (24} full-time jobs in Xxxxxx County. For every six (6) full time Xxxxxx County employees employed by Lessee in excess of twenty four (24), not to exceed a cap of a total of thirty six (36), Lessee shall receive an additional purchase option credit in the amount of Fifty Thousand Dollars ($50,000) per year for each year the employees are retained, provided the employees are retained for at least five (5) years of the initial ten year lease term. At such time as Lessee shall desire to exercise this option, Lessee shall give Lessor written notice thereof. Lessor will, within fourteen (14) days after receipt of such notice, provide a contract for sale at option price, with Lessee paying all closing costs. In addition, such contract for sale shall contain reasonable standard provisions for contracts for similar sales. The consideration for this option is $1.00 at the execution of this agreement. Lessee's failure to pay remain in good standing (including making timely rent payments) under the lease shall terminate this option; provided, however, that if Lessee cures any such amountsdefault, and all damages, costs and expenses which Lessors the option shall remain. Lessee may incur by reason of any default of Lessee or failure on assign Lessee's part rights under this section to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalan affiliate.
Appears in 1 contract
Samples: Commercial Lease
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor to Landlord as rent hereunder rental, without prior notice or demand, for the Demised Premises during the Initial Term a monthly rent as follows: sum of $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 2,332.50, beginning on April 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 2000 and a like sum on or before the first day of each monthand every successive calendar month thereafter during the term hereof; provided, no rent shall be payable on April 1, 2000 or May 1, 2000 (free rent period). Rents received after Thereafter the tenth (10th) of any month will include a monthly rent rate beginning February 1,2001 shall be $25 late fee2402.48, the monthly rent beginning February 1, 2002 shall be $2,475.04, monthly rent beginning February 1, 2003 shall be $2,550.20. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents Said rental shall be paid to Lessor Landlord, without demand and without set-off deduction or offset in lawful money of the United States of America, which shall be legal tender at the offices time of XXXXXXXXXX XXXXXX CONSTRUCTION CO.payment in Tacoma, INC.Washington, 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or to such other person or at such other address place as Lessor Landlord may from time to time designate in writing. On the first day of the fifth lease year, and annually thereafter, the then current fixed monthly rental shall be increased but in no event decreased by the percentage by which the U.S. All Urban Consumer Price Index (1982-1984 equals 100) (“Index”), as published by the U.S. Department of Labor, Bureau of Labor Statistics, for the previous calendar month, shall have increased from the said price index for 12 months prior. In the event the said Index shall hereafter he converted to Lessee a different standard reference base or otherwise revised, the determination of the percentage increase shall be made with the use of such conversion factor, formula or table for converting the Index as may be published by notice the Bureau of Labor Statistics. In the event the Index shall cease to be published, then, for the purposes of this paragraph, there shall be substituted for the Index such other Index as Landlord and Tenant shall agree upon, and, if they are unable to agree within ninety (90) days after the Index ceases to he published, such matters shall be determined by arbitration in accordance with the manner hereinafter providedCommercial Arbitration Rules of the American Arbitration Association. All taxesRent for any period during the term hereof which is for less than one (1) month shall be a prorated portion of the monthly installment herein, chargesbased upon a thirty- (30) day month. Rental shall be paid to Landlord, c/x Xxxxxx Commercial Inc., 0000 X. 00xx Xx. Xxxxx 000, Xxxxxx, XX, 00000, without deduction or offset. In addition to the base rental described herein, Tenant agrees to pay Landlord the following additional rental:
(a) Whenever, for any calendar year, Landlord’s estimated operating expenses of the Building, as defined herein, are greater than the actual operating expenses for the base year which is 2000, then in addition to the monthly rental described above, Tenant shall pay such increased expenses as additional rent. Payments shall be increased effective January 1, and on the same date of each month thereafter, by an amount equal to one-twelfth (1/12th) of the estimated increase in operating expenses.
(b) The term “operating expenses,” as used herein, shall mean any and all expenses, costs and amounts incurred by the Landlord in connection with the ownership, servicing, operation, maintenance, repair and/or management of the Building, and related exterior appurtenances, and the cost of any services or capital expenditures incurred in order to achieve a reduction of any operating expenses (such capital expenditures shall be amortized over the useful life of the relevant improvements) and shall include real estate taxes. Operating expenses shall include the following costs by way of illustration, but no limitation; real estate taxes and assessments levied on the Building and the real property upon which Lessee the Premises is required to pay pursuant to SECTION 3.01 or other sections hereoflocated; utilities and services; insurance premiums (provided, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of that at any default of Lessee or failure on Lessee's part to comply with time during the term of this Leasehereof Landlord obtains insurance not carried during the base year, only the increase over what such policy would have cost during such base year, as reasonably determined by Landlord, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"included as an operating expense); licenses, permits and inspection fees; accounting, legal, inspection, consulting and other services; wages, salaries and other compensation and benefits for all persons engaged in the event of nonpayment by Lessee within the time period set forth aboveoperation, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment maintenance or security of the above specified monthly rental.Premises; operation, repair and maintenance of all systems and equipment and components thereof, including replacement of components, janitorial service, alarm and security service, window cleaning, trash removal, elevator maintenance, if any, cleaning of walks, parking facilities and building walls, removal of ice and snow, replacement of wall and floor coverings, ceiling tiles and fixtures in lobbies, corridors, bathrooms and other common or public areas or facilities, maintenance and replacement of shrubs, trees, grass, sod and other landscaped items, irrigation
Appears in 1 contract
Rent. Lessee Rent shall make the following rental payments to Lessor:
be Base Rent plus Tenant’s share of Taxes and Operating Expenses and other charges (a) Lessee covenants “Additional Rent”), as described in Sections 6 and agrees to pay Lessor as rent hereunder 7. Rent for the Demised Premises during sixth (6th) full month of the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)Lease term shall be paid on or before the execution date of this Lease. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Tenant shall pay all Base Rent is due and Additional Rent in advance on the first day of each calendar month without notice, offset or deduction, unless otherwise expressly permitted under this Lease. Base Rent for any partial calendar month shall be prorated based on the number of days in such month. Rents received Base Rent shall be payable as provided below: 1 - 5 $0.92 Abated 6 - 17 $0.92 $14,938.96 18 - 29 $0.95 $15426.10 30 - 41 $0.98 $15913.24 42 - 53 $1.01 $16390.64 54 - 65 $1.04 $16887.52 66 - 77 $1.07 $17,374.66 3 As reflected in Section 3, Tenant shall have no obligation to pay monthly Base Rent for the first five (5) full months of the Term, commencing with the Commencement Date (the “Free Rent Period”). If this Lease is terminated during such Free Rent Period, Tenant shall not be entitled to any such rent abatement after the tenth date of termination nor shall Tenant be entitled to assert any right to rent abatement after such termination against any sums due Landlord. The rent abatement granted under this Section is solely for the benefit of AcryMed Corporation (10th) of or a successor corporation by merger or acquisition), and shall not be transferable to any month will include a $25 late feeassignee or subtenant. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in In the event of Lessee's failure a default by Tenant under the terms of this Lease which results in early termination pursuant to the provisions hereof, then as a part of the recovery to which Landlord shall be entitled shall be included a portion of such rent which was abated under the provisions of this Section, which portion shall be determined by multiplying the total amount of rent which was abated under this Section by a fraction, the numerator of which is the number of months remaining in the Term of this Lease at the time of such default and the denominator of which is the number of months during the Term of this Lease that Tenant is obligated to pay such amountsmonthly Base Rent. Notwithstanding the foregoing, and all damagesduring the Free Rent Period, costs and expenses which Lessors may incur by reason Tenant shall pay Tenant’s proportionate share of any default Operating Expenses in monthly payments payable on the first day of Lessee or failure each month commencing on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalCommencement Date.
Appears in 1 contract
Samples: Lease Agreement (I Flow Corp /De/)
Rent. Lessee shall make 3.1 Yielding and paying therefore unto the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor at its office at 000 Xxxx 0xx Xxxxxx, Xxxxx Xxxxxxxxx, X.X., X0X 0X0, or at such other place as the Lessor may reasonably direct in writing, rent hereunder for Premises in the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1sum set out hereunder, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due payable in advance on the first day of each monthand every month of the Term as follows: The Lessee shall be responsible for payment of its proportionate share of Operating Expenses and Taxes throughout the Term. Rents received after The Lessee shall pay all amounts due hereunder together with all applicable taxes, including, without limitation, goods and services tax, but shall not pay the tenth (10th) Lessor’s. The Lessee covenants and agrees that the failure by the Lessee to pay to the Lessor the amount of any month will include a $25 late fee. Rent not received goods and services tax owing by the last day Lessee to the Lessor when due hereunder shall constitute a default by the Lessee under this Lease and will entitle the Lessor to exercise any and all rights and remedies available to the Lessor for the recovery of rent in arrears.
3.2 The Lessor acknowledges receipt from the Lessee of a deposit of $34,740.23 which shall be applied on account of the payment of rent, Operating Expenses and Taxes for the eighth month will be cause to void this Lease Agreementof the Term. All rents shall be paid to Lessor without demand and without set-off at Such sum, or the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may amount remaining from time to time designate time, shall be held by the Lessor as security for the performance by the Lessee of its obligations under this Lease and may be applied or appropriated by the Lessor to Lessee by notice in compensate the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is Lessor as may be required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure default by the Lessee under this Lease. Any amount so applied or appropriated shall be forthwith paid by the Lessee to pay such amounts, and all damages, costs and expenses which Lessors may incur the Lessor to be held by reason of the Lessor pursuant to this section.
3.3 Notwithstanding any default of Lessee or failure on Lessee's part to comply with the other term of this Lease, the Lessee shall not be deemed obliged to be additional pay annual net rent hereunder (hereinafter called for the "Additional Rent")4 months of June, July, August and September 2004, and in the event 3 months of nonpayment by Lessee within the time period set forth aboveOctober, Lessor shall have all the rights November and remedies with respect thereto as Lessor have for the nonpayment December 2005 of the above specified monthly rentalTerm; provided, however, the Lessee shall, during such period, pay its proportionate share of Operating Expenses and Taxes and all other amounts due hereunder.
Appears in 1 contract
Samples: Office Lease (Chalk Media Corp)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises to Lessor, during the Initial Term a monthly first year of this Lease, an annual rent as follows: of $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO 37,272 DOLLARS, said rent to be payable at the rate of $6,600/MONTH STARTING WITH OCTOBER 13,106, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due with each payment to be made on the first same day of each month. Rents received after and every month as the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day date of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor beginning of the term as set out hereinabove, in advance, without demand and without set-off demand, at the offices office of XXXXXXXXXX XXXXXX CONSTRUCTION CO.the Lessor, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address place and to such other person as the Lessor may from time to time designate in writing. This monthly rental rate reflects 3,017.56 base rent for the unit, plus $24.28 monthly water and sewer charge, $25.43 monthly garbage pick-up charge and $38.73 monthly CAM charge. 2
(b) For each succeeding year of this Lease after the first year, the new, annual-rental rate, beginning with the first day of the second year of the effective date of this Lease (and on the first day of each succeeding year), shall be an amount computed by increasing the rental rate for the immediately preceding period by five (5%) percent (the immediately preceding yearly rent shall be multiplied by 1.05%.)
(c) It is understood and agreed by the parties hereto that the Lessee shall deposit one (1) months' rent with the Lessor at the time of entering this Agreement. This one month's rent shall be for a security deposit which may be used to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of satisfy any default indebtedness of Lessee or failure on Lessee's part to comply with Lessor at the term termination of this Lease. Said deposit shall not be placed in a separate escrow account, may be commingled with other funds of the Lessor, and shall not earn any interest for the Lessee. The purpose of said security deposit is to pay for any damage to the Premises, or it shall be deemed used as reimbursement to Lessor for any sums owed to it at the termination of the Lease. The Lessee shall pay the first month's rent prior to occupation of the Premises.
(d) If payment of rent is not made by the 15th of the month in which it is due, the Lessee will be charged a delinquency fee of four (4%) percent of the unpaid rental installment, in addition to the base monthly fee. Acceptance of any late payments and penalties shall only waive the right to claim breach of contract for such accepted late rental payments and penalties, but shall not otherwise constitute a waiver of any rights, including the right to require timely payment in the future.
(e) There will be an additional rent hereunder (hereinafter called the "Additional Rent")charge to Lessee of $38.73 per month for common-area maintenance, which is referenced in paragraph 1(a) hereinabove, and it shall be the responsibility of Lessor to maintain in a good, safe and substantial condition, all of the common areas of the Athena Building and grounds.
(f) If a rental check is returned to Lessor unpaid by the bank, the Lessee will be charged a service charge in the event of nonpayment maximum amount allowed by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentallaw.
Appears in 1 contract
Rent. Lessee The fixed rent (hereinafter “Fixed Rent”) payable by the Tenant during the Term shall make be the following rental annual rent of $389,496.00 per year ($32,458.00 per month). $379,200.00 for 31,600 SQFT at 00 Xxxxxxx Xxxx $ 2,304.00 for 192 SQFT next to Boiler Room (Chestnut Street Space) $ 7,992.00 for 1,998 SQFT in the Basement (Basement Space) Tenant’s obligations to pay Fixed Rent shall begin on November 1, 2006 pro rated for any completion delays. Tenant shall also pay as Additional rent without notice, except as required under this Lease, and without any abatement, deduction or setoff, all sums, impositions, costs, expenses and other payments to Lessor:
(a) Lessee covenants and which Tenant in any of the provisions of this Lease assumes or agrees to pay Lessor as rent hereunder (the “Additional Rent”), and, in case of any nonpayment thereof, Landlord shall have in addition to any other rights and remedies, all of the rights and remedies provided by law or provided for in the Lease for the Demised Premises during the Initial Term a monthly nonpayment of Fixed Rent. All rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1payments are due in advance without demand, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due deduction or set-off on the first day of each monthand every month during the Term and any extension or renewal thereof. Rents received after Fixed Rent for any partial month shall be prorated. In the tenth event any Fixed Rent, additional rent or any other payments are not paid within ten (10th10) of any month will include a $25 late fee. Rent not received by the last day business days of the month will be cause to void this Lease Agreement. All rents due date thereof, Tenant shall be paid to Lessor without demand and without set-off at the offices charged a late fee of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 $100.00 for each late payment for each month or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter providedportion thereof that said payment remains outstanding. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, Said late fee shall be deemed payable in addition to be and not in exclusion of additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalherein provided to Landlord.
Appears in 1 contract
Samples: Lease (Mfic Corp)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER First Year: October 1, 2002 THROUGH SEPTEMBER 302011 to October 1, 20072012@ $7,446.17 per month ($21.50 per gross sq ft)
(b) The aforesaid rent amount is inclusive of an estimated expense for utilities, taxes, insurance and janitorial services and may be adjusted annually as provided in Section 3.01.
(bc) Rent is due on the first day of each month. Rents received after the tenth (10th) day of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Pellissippi Pointe LLC, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided.
(d) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Option Terms as monthly rent an amount as follows:
(1) Each year of the initial term and each year of the subsequent Option Period the rent shall be adjusted by the amount of the change in the Consumer Price Index (CPI) cost of living as reported by the Federal Government with a maximum of 2.5% per year. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION Section 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and and, in the event of nonpayment by Lessee within the time period set forth aboveLessee, Lessor shall have all the rights and remedies with respect thereto as Lessor have has for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Lease Agreement
Rent. All rent paid by the Lessee shall make the following rental payments to be without previous demand therefore by Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.or deduction, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon except in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur a breach of this lease by reason Lessor. Rent shall be payable monthly as follows: Amount of any default of Lessee Rent: $22,000 PER MONTH; MONTHS 1-60 Due Date: 1ST OF EVERY MONTH In advance on or failure on Lessee's part to comply with before the Due date each calendar month during the term of this Lease, shall lease. The Due Date is the date on which each installment is payable. Each Due Date is one month from the previous Due Date. In addition to such remedies as may be deemed to be additional rent hereunder (hereinafter called provided under the "Additional Rent"), and in the event Default provisions of nonpayment by Lessee within the time period set forth abovethis lease, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment be entitled to a late charge of five percent (5%) of the above specified monthly rentalamount of the months rent if not received within ten (10) days after the Due Date. Rents made payable to: XXXXXXX & XXXXXXX INC. And can be mailed to: X.X. Xxx 000, Xxxxxxxx, XX 00000, Or delivered to: 0000 X. XXXXXXXXXXXX XX., Xxxxxxxx, XX 00000 In addition, Lessee shall provide Lessor with a security deposit of $22,000 (the “Security Deposit”) on or before January 1, 2004. Upon the termination of the lease, Lessor shall promptly inspect the premises to determine if the Demised Premises are substantially in the condition as at the commencement of the lease, normal wear and tear excepted. In the event the Demised Premises are in the proper condition, Lessor shall return the Security Deposit no later than thirty (30) days following the termination of the lease.
Appears in 1 contract
Samples: Lease (BGF Industries Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to shall pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent Basic Rent as follows: Months Basic Rent From To Annual Monthly 1 12 $6,000/MONTH FOR THE FIRST 5 YEARS -0- $-0- 13 30 $125,921.28 $10,493.44 31 60 $133,116.72 $11,093.06 61 90 $147,507.72 $12,292.31 91 123 $161,898.72 $13,491.56 in equal monthly installments. Lessee shall pay Basic Rent in advance of the first day of each month of the Term of this Lease, commencing on the Commencement Date. If the day on which the Term of this Lease shall commence is other than the first day of the month, then the rent for the initial fraction of the month shall be apportioned. Lessee has paid $10,493.44 (60 MONTHSTen thousand four hundred and ninety three dollars and forty-four cents), receipt of which is hereby acknowledged as rent for the first month in which rent is due. INCREASE BY 10% TO All rental payments shall be paid to Lessor at P. O. Xxx 0000-X0000, Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000 or at such Coty Lease 2 Bldg 100 032400 Final other place as Lessor may designate in writing, free of all claims, demands, or offsets of any kind or character. If Lessee shall fail to pay when due any installment of Basic Rent, Lessee’s Share of Complex Operating Costs, Lessee’s Share of Real Property Taxes or any other charges to be paid by Lessee hereunder, Lessee shall pay a late charge of $6,600/MONTH STARTING WITH OCTOBER 10.06 for each $1.00 which remains unpaid. Such late charge is intended to compensate Lessor for additional expenses incurred by Lessor in processing such late payments and shall be due and payable within five (5) days of billing therefor. Nothing herein shall be intended to violate any applicable law, 2002 THROUGH SEPTEMBER 30code or regulation, 2007and in all instances all such charges shall be automatically reduced to any maximum applicable legal rate or charge. Such charge shall be imposed monthly for each late payment.
(b) Rent is due on the first day Lessee shall also pay to Lessor, “Lessee’s Share of Complex Operating Costs” (as hereinafter defined) in equal monthly installments based upon Lessor’s reasonable estimate of such Complex Operating Costs. By April 1st of each monthyear, Lessor shall provide Lessee with an accounting of such “Complex Operating Costs” for the prior year, and Lessee shall pay Lessor any balance owing within thirty (30) days. Rents received after the tenth (10th) If Lessor has collected in excess of any month will include expenses, Lessee shall receive a $25 late feecredit against future payments of Lessee’s Share of Complex Operating Costs.
1. The Basic Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid net to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, that all costs and expenses which Lessee in connection with the Complex (other than Lessor’s debt service) shall either be paid directly by the various tenants or paid by Lessor and allocated among the various tenants. It is required further understood that the only obligations of Lessor to pay pursuant effectuate operation, maintenance and repair of the Complex are those set forth in Article 9 hereof. “Complex Operating Costs” (as herein defined) includes all reasonable costs incurred by Lessor in operating, maintaining and repairing the Complex including, without limitation; the cost of clearing snow and ice; trash, garbage and other refuse removal from Common Areas; the cost and expense of gardening and landscaping; Lessor’s insurance including bodily injury, public liability, property damage liability, fire and extended coverage or all risk insurance covering the Complex, rent insurance; water and sewer charges; repairs to SECTION 3.01 the building and building improvements for other parts of the Complex; restriping parking areas; repair to parking areas; painting, maintenance and repairs of traffic and directional signs and equipment; extermination; electrical, water or other sections hereofutility charges serving the Common Areas; policing and regulating traffic; structural repairs and roof maintenance; a reserve equal to 8% of the estimated cost for resurfacing the parking area; 5% of all of the foregoing to cover Lessor’s administrative supervision, together with all interest overhead and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, general conditions costs; and all damagesother similar costs properly chargeable to such operation, costs maintenance and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalrepair.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) The Lessee covenants and agrees to pay to the Lessor throughout the Term as rent hereunder for Rent an annual amount equal to the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007Net Available Cash Flow.
(b) The Rent is due on the first day shall be payable in respect of each month. Rents received after Lease Year within thirty (30) days of receipt by the tenth Lessee and the Trustee of the annual financial statements and audit report for the corresponding Annual Period of the Lessee provided to the Trustee in accordance with the provisions of the Loan Agreement and the satisfaction of any additional conditions precedent to the distribution of the Net Available Cash Flow as provided in Section 513(b) and (10thc) of any month will include the Indenture.
(c) If the Net Available Cash Flow for a $25 late fee. Lease Year shall be zero (0) or a negative amount, no Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to the Lessor without demand hereunder for such Lease Year, and without set-off it is understood that the Lessor shall have no liability or obligation, express or implied, to contribute or to pay the Lessee for any such deficit in Net Available Cash Flow.
(d) For purposes hereof, the Lessor agrees that the Lessee may, in each Lease Year, charge, in each Lease Year, cause to be charged Rent for the units comprising the Project sufficient to comply with all of the covenants and agreements of the Lessee contained in the Bond Documents, provided, however, the maximum rent charged to tenants of the Workforce Housing Units shall comply with the provisions of Section 11(c) of the Ground Lease
(e) Payment of all Rent and all other sums due to the Lessor under this Ground Lease shall be made payable to the Lessor and delivered to the Lessor at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 address shown in Section 28 hereof or at such other address place as the Lessor may notify the Lessee in writing from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentaltime.
Appears in 1 contract
Samples: Ground Lease Agreement
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Twenty Six Thousand Nine Hundred Fifty-Seven and 00/100 Dollars ($26,957.00) per month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment as provided in Section A of this Paragraph. Rent shall be paid without deduction or offset, prior notice or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 9,660.00 shall be paid upon execution of the Lease, which sum represents the amount of the first month's rent. A deposit of $15,000.00 as a Security Deposit shall be made by Lessee and held by Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease and shall also be paid upon execution of the Lease. INCREASE BY 10% TO [see NOTE 1] $6,600/MONTH STARTING WITH OCTOBER 26,957.00 [see Note 2] shall be paid on July 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 1989 and in advance on the first (1st) day of each monthsucceeding calendar month until June 1994. Rents received after Rent for any period during the tenth term hereof which is for less than one (10th1) full month shall be a pro-rata portion of the monthly rent payment. Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within NINE (9) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of late payment by Lessee. Acceptance of any default later charge shall not constitute a waiver of Lessee or failure on Lessee's part default with respect to comply with the term overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor.
NOTE 1: The security deposit shall be increased by Six Thousand and 00/ 100 Dollars ($6,000.00) the earlier of (i) March 15, 1990 or (ii) the return of the security deposit by Tenant's current sublessor at Vintage Park.
NOTE 2: Except that during months 1 through 6, inclusive, of the term, the monthly rent shall be $9,660.00. EXCEPT AS PROVIDED WITHIN, if for any reason whatsoever, Lessor can not deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be revised to conform to the date of Lessor's delivery of possession. EXCEPT AS PROVIDED WITHIN, In the event that Lessor shall permit Lessee to occupy the Premises prior to the commencement of this Lease, such occupancy shall be deemed subject to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalprovisions of this Lease, including the commencement of rent and obligation to maintain insurance.
Appears in 1 contract
Rent. a. For and during the term of this Agreement, Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises a total rental of $21,600, payable in 6 equal monthly installments of $3600 (unless otherwise indicated on attached Rebate Rider) each payable in advance of the first day of each calendar month after the commencement of the term, or a daily prorated amount for any partial calendar month during the Initial Term term. If any payment of rent or other charges due under this Agreement is not received within five (5) calendar days after its due date, the Lessee will also pay, as additional rent, a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY late payment charge which shall be an amount equal to 10% TO of any amount owed to Lessor or $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 200750 whichever is greater.
(b) Rent b. It is due additionally specifically covenanted and agreed that the financial terms of this Agreement are strictly confidential and Lessee axxxxx not to knowingly or willfully divulge this information to or any other Lessee or potential Lessee of Lessor. Any such disclosure by the Lessee of the financial terms of this Agreement as set forth herein above, shall constitute a material breach of this Lease.
c. The first such payment of rental as well as the payment of the Deposit as set forth in below shall be paid by Lessee simultaneously with execution of this Agreement. Should the Lessee fail to make such payment prior to the commencement of the term of this Agreement, then, at Lessor's sole option, the Agreement shall be null and void and of no further effect.
d. The rental payable during the term of this Agreement shall be increased on the first day of each month. Rents received after the tenth (10th) month following notification of any month will include a $25 late feerental increase (however designated) which the Lessor might receive from the Lessor's over-landlord ("Building"). Rent not received The term "direct expenses" as used herein shall refer to the same items and costs as are used by the last day Building in its determination of expenses and costs passed on to Lessor. Lessor shall immediately notify Lessee in writing of any such increase, and shall bill Lessee for its pro rata share thereof, which bill Lessee shall pay promptly upon such notification for each and every month thereafter for the balance of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COterm., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Rent. Lessee (A) Amount and Payment of Rent Tenant shall make pay the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: of $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due _ in advance on or before the first (1st) day of each month. Rents received after the tenth (10th) of any month will include a $25 late feebeginning . Rent not received by for any fraction of a month of occupancy at the last day beginning or end of the month term will be cause to void charged on a pro rata basis. The monthly rent will remain in effect until a new monthly rent is determined and put into effect by LHA in accordance with Section IV of this Lease Agreementlease. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with During the term of this Leaselease LHA shall accept as rent all payments which Tenant designates as rent. The acceptance of such rental payments by LHA shall not constitute a waiver of payment for any other amounts due or of any other past, present, or future obligation under this lease. Following termination of this lease, if Tenant fails to vacate forthwith, Tenant shall pay monthly in advance the fair value of use and occupancy but no less than an amount equivalent to the rent in effect at the time of termination. Payments for such use and occupancy shall be deemed to be additional rent hereunder made in advance and shall continue until Tenant and household members vacate or are otherwise dispossessed.
(hereinafter called the "Additional Rent"), B) Nonpayment of Rent - Delinquency and in Lease Termination Notice In the event that Tenant shall fail to pay all or any part of nonpayment by Lessee the rent within seven (7) days of its due date, the LHA may declare the unpaid rent delinquent and issue a Notice of Termination of Lease which may include a Notice to Quit. Prior to issuing such a notice, except where Xxxxxx has been habitually delinquent in paying rent and has had a prior opportunity for discussion within the time period set forth aboveprior six (6) months, Lessor the LHA shall have all provide the rights and remedies Tenant with respect thereto as Lessor have an opportunity to discuss the reason for the nonpayment late payment.
(C) Nonpayment of the above specified monthly rental.Rent - Interest;
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee Section 3.01. Tenant shall make pay as rent for the following rental payments to LessorDemised Premises, the following:
(a) Lessee covenants and agrees to pay Lessor as a fixed minimum rent hereunder (the "minimum rent") at the following annual rates:
(i) $282,150.00 per annum (or $23,512.50 per month) for the Demised Premises during first five (5) years of the Initial Term term following the Commencement Date, including a monthly partial month if the Commencement Date is not the first day of a month, and in such event the minimum rent as follows: for such month shall be prorated; and
(ii) $6,000/MONTH FOR THE FIRST 5 YEARS 292,050.00 per annum (60 MONTHS). INCREASE BY 10% TO or $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.24,337.50 per month) for the last five (5) years of the term; and
(b) Rent all other sums and charges required to be paid by Tenant under the terms of this Lease (including without limitation, the payments required to be made under Article 22), which shall be deemed to be and are sometimes referred to hereafter as additional rent.
Section 3.02. Notwithstanding the provisions of Section 3.01 hereof and provided Tenant is not then in default under any of the provisions of this Lease on its part to be performed, Tenant shall be entitled to an abatement of part of the minimum rent only as follows: the amount of $22,275.00 for each of the 1st, 2nd, 3rd, 4th, 17th and 18th months of the term succeeding the Commencement Date and the balance of minimum rent for each such month of $1,237.50 shall be payable by Tenant. Tenant acknowledges that the consideration for the aforesaid abatement of minimum rent is Tenant's agreement to perform all of the terms, covenants and conditions of this Lease on its part to be performed. Therefore, if this Lease shall terminate by reason of Tenant's default under any of such terms, covenants and conditions of this Lease, the aggregate amount of all minimum rent that was abated shall immediately thereafter become due and payable by Tenant to Landlord. In the event of Tenant's failure to pay such aggregate amount to Landlord, Landlord shall be entitled to the same rights and remedies as in the event of Tenant's default in the payment of minimum rent. Tenant shall be required to pay additional rent and all other sums from and after the Commencement Date.
Section 3.03. The minimum rent shall be payable in equal monthly installments in advance on the first day of each month. Rents received after the tenth (10th) of any and every month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with during the term of this Lease, except that the amount of $23,512.50 shall be deemed paid upon the execution of this Lease and shall be applied to be payment of the minimum rent for the fifth (5th) month of the term succeeding the Commencement Date.
Section 3.04. Tenant shall pay the minimum rent and additional rent hereunder in lawful money of the United States which shall be legal tender for the payment of all debts, public and private, at the time of payment. Landlord and Tenant agree that Tenant shall pay all minimum rent, additional rent and other amounts now due or hereafter to become due to the Landlord or its agents as provided for in this Lease, (hereinafter called collectively, the "Additional RentRents")) (as and when due) directly to the following lock-box account: 000 Xxxx 00xx Xxxxxx LLC X.X. Xxx 00000 Xxxxxx, Xxx Xxxxxx 00000-0000 All rent checks shall be made payable to 000 Xxxx 00xx Xxxxxx LLC.
Section 3.05. The minimum rent and in the event of nonpayment additional rent shall be payable by Lessee within the time period set forth aboveTenant without any set-off, Lessor shall have all the rights abatement or deduction whatsoever and remedies with respect thereto without notice or demand, except as Lessor have for the nonpayment of the above specified monthly rentalotherwise expressly provided herein.
Appears in 1 contract
Samples: Lease (Global Technologies LTD)
Rent. Lessee 3.1. The rent ("Rent") payable during the Term under this Sublease ---- shall make be as set forth on Schedule C hereto. ----------
3.2. Upon the following rental payments execution of this Sublease, Sublessee shall pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor Sublessor the sum of * as rent hereunder Rent for the Demised Premises during the Initial Term a month of October. Thereafter all payments ------- of Rent shall be in equal monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1installments and shall be made, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due in advance on the first twenty fifth (25th) day of each month. Rents received after month during the tenth Term (10th) of any except for the first and last month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease AgreementTerm). All rents The Rent and all other payments, if any, due and payable hereunder by Sublessee shall be paid made by check payable to Lessor without demand the order of "Ryder System, Inc." and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.addressed to Ryder Truck Rental, INC.Inc., 0000 XX 00 Xxxxxx, Xxxxx, XX 00000 XXXXXXX XX., KNOXVILLEAttention: Ryder System Inc., TN 37932 Comptroller or to such other person or at such other address place as Lessor Sublessor may from time to time designate in writing within thirty (30) days after receipt by Sublessee of request therefor.
3.3. In the event that Sublessee shall dispute any calculation of Rent charged to Lessee Sublessee by notice Sublessor, then Sublessee shall send to Sublessor a written notice, within 30 days of receipt by Sublessee of such charge, setting forth the basis for Sublessee's dispute. Sublessor and Sublessee shall thereupon use reasonable and good faith efforts to resolve such dispute. If the parties are unable to resolve such dispute within 30 days after submission by Sublessee of its dispute notice, then the parties shall designate an independent certified public accountant mutually acceptable to both parties (the "Independent ----------- Accountant") to resolve such dispute, and the fees and charges of the ---------- Independent Accountant shall be shared equally by the parties. Both parties shall provide the Independent Accountant with all information reasonably requested by the Independent Accountant in connection with its review of such dispute, and both parties shall request that the manner hereinafter providedIndependent Accountant complete its work expeditiously and issue a written report to both parties setting forth its determination. The written determination of the Independent Accountant shall be final and shall be binding upon both Sublessor and Sublessee. All taxes, charges, costs and expenses which Lessee is required disputes to pay be resolved pursuant to SECTION 3.01 or this Section 3.3 shall be so resolved in accordance with the principles and standards set forth in Section 3.5 below.
3.4. Sublessor shall furnish to Sublessee copies of any material statements and other sections hereofmaterial documents and information which are provided to Sublessor by Landlord pursuant to the Master Lease. Without limiting any other obligations of Sublessor hereunder, together Sublessor agrees it will, upon reasonable request from Sublessee, exercise on Sublessee's behalf, and at Sublessee's sole cost, any rights of Sublessor under the Master Lease to review and inspect records and otherwise obtain information from Landlord. * CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO AN APPLICATION FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
3.5. All calculations by Sublessor of Rent and any other amounts that are payable by Sublessee hereunder shall be made in accordance with all interest and penalties that may accrue thereon in the event of LesseeLandlord's failure past practices with respect to pay such amountsSublessor, and all damages, costs charges and expenses which Lessors may incur allocations relating to the Demised Premises and all accounting practices utilized by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies Sublessor with respect thereto as Lessor have for to amounts charged to Sublessee under this Sublease (including the nonpayment capitalization, amortization and expensing of the above specified monthly rentalcosts incurred and funds expended) shall also be made in such manner.
Appears in 1 contract
Samples: Sublease (Ryder TRS Inc)
Rent. Lessee shall make 3.01 Commencing on the following rental payments to Lessor:
(a) Lessee covenants first day of the term of this Lease, and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any calendar month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with thereafter during the term of this Lease, Tenant agrees to pay Landlord on a monthly basis. Check shall be deemed made out to: Restart Western Skies, L.P., and the suite number shall be noted in the bottom left corner of the check. Rent per month for the said Premises shall be per the schedule below: Months 1-12 $1,945.00 Months 13-24 $2,003.00 Months 25-36 $2,063.00 The rental payments above do not include rental taxes that may be charged by the city, county or State of Arizona, which will be charged to be additional rent hereunder the Tenant. The amount of $1,945.00, the first months’ full rent, is paid herewith to Landlord upon execution of the Lease, along with a security / damage deposit of $2,200.00. So long as the Premises are returned to Landlord upon the expiration or termination of this Lease, in a good and clean condition (hereinafter called the "Additional Rent"allowing for reasonable wear and tear), and said security deposit shall be promptly returned to Tenant.
3.02 If the commencement date is a date other than the first day of a month, rent shall be prorated based on the number of days left in the event month bears to the total monthly rent due and payable for such month.
3.03 N/A
3.04 Tenant agrees that Tenant will make no alterations to the Premises or the Property without the prior written consent of nonpayment the Landlord. Any additions or improvements installed by Lessee within the time period set forth aboveTenant upon the interior of the Premises shall, Lessor upon the expiration or earlier termination of this Lease, become the property of Landlord at Landlord’s option. Otherwise, Tenant shall have all the rights and remedies with respect thereto as Lessor have be responsible for the nonpayment full cost of removing such additions or improvements and restoring the space to its original condition.
3.05 Tenant, Tenant’s clients, vendors and visitors shall be entitled to park in common with other tenants of the above specified monthly rental.Landlord on a first come, first serve basis, provided that the use does not exceed four (4)
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor to Landlord, as rental for said term, as follows $ per month, in advance, with the first month's rent hereunder for becoming due upon
(i) the Demised Premises during execution of this Rental Agreement or,
(ii) the Initial Term a monthly rent as follows: $6,000/MONTH FOR RENT IS DUE AND PAYABLE ON THE FIRST 5 YEARS (60 MONTHS)DAY OF EACH MONTH!! Checks should be made payable to Xxxx Xxxxxxxx. INCREASE BY 10% TO Rent should be mailed to 0000 Xxxxxxxx Xxxx, Xxxxxxx, XX 00000. There will be a late rent service charge on all over due rents: more than five days late but less than eleven $6,600/MONTH STARTING WITH OCTOBER 115.00, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent in the event that the rent is due on more than 11 days delinquent the first day tenant shall incur an a additional charge of each month$25.00. Rents received after Late fees identified herein are cumulative and a total of $40.00 per month can be incurred. This charge is necessary because of the tenth (10th) additional paperwork and book-keeping expense of any month will include handling late payments. All rent or deposit checks returned by the bank because of insufficient funds shall be charged a $25 25.00 NSF fee in addition to the late feefee charged. Rent not Please note that all received payments by a landlord shall first be applied to late fees incurred. Any remaining proceeds shall be applied to rent, with the rent being paid in the order in which it is incurred, which application result in the last will rent incurred being paid last. This provision shall govern the application of all payments received by the last day of landlord from the month will tenant unless otherwise agreed to by the landlord and tenant and documented in writing. Prorated rent for early move in shall be cause to void this Lease Agreement$ _/day x days = $ . All rents rules and regulations and lease agreement conditions shall be paid to Lessor without demand and without set-off applicable at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COthis time., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Dwelling Unit Rental Agreement
Rent. Lessee shall make In return for the following rental payments to Lessor:
(a) Lessee use of the Premises and in consideration of the terms, conditions, covenants and agrees to provisions contained herein, Tenant shall pay Lessor as rent hereunder for Landlord the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)total Rent above. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1The first installment of Rent, 2002 THROUGH SEPTEMBER 30unless otherwise stated herein, 2007.
(b) Rent is shall be due on the Commencement Date with subsequent installments being due no later than the first day of each monthof the ensuing months. Rents received after For semester-only Terms, the tenth (10th) of any month will include a $25 late feeTotal Rent shall be due in full no later than on the Commencement Date. ABSOLUTELY NO CASH WILL BE ACCEPTED. Checks tendered for the Rent not received shall be made payable to “Millennial Towers, LLC" and mailed or hand-delivered to 000 Xxxx 0000 Xxxxx, Xxxxx 000, Xxxxx, Xxxx 00000. To ensure timely payment by the last first day of the month will be cause month, please mail the Rent by the 20th day of the previous month. Alternatively, Tenant may make payment by Electronic Funds Transfer (“EFT”) by completing a debit (EFT/ACH) Authorization Lease to void this Lease Agreementauthorize Landlord to debit monthly rent payments from Tenant’s bank account. All rents Any payments received by Landlord after 5:00 p.m. Mountain Time shall be paid to Lessor without demand and without set-off at credited on the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in next business day. In the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required event Tenant elects to pay pursuant the Rent by check or EFT, Tenant shall pay Landlord a charge of $20.00 for any check returned or EFT declined to SECTION 3.01 Landlord for non- sufficient funds, or other sections hereofif said check or EFT otherwise fails to clear the issuer's bank. Tenant may not withhold or offset rent, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur except as permitted by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalprevailing law.
Appears in 1 contract
Samples: Residential Lease Agreement
Rent. Lessee The first installment of Basic Monthly Rent shall make be paid upon the following rental payments execution of this Lease Agreement, and thereafter, the Basic Monthly Rent shall be payable by Tenant to Lessor:
(a) Lessee covenants Landlord, in advance, without notice or demand, and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1without set-off, 2002 THROUGH SEPTEMBER 30deduction or abatement of any kind, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any and every calendar month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with thereafter during the term of this LeaseLease Agreement as follows: Basic Monthly Rent is$ 1,250.00 from the Commencement Date to June 30, 2014; Basic Monthly Rent is$ 666.67 from July 1, 2014 to June 30, 2015; Basic Monthly Rent is$ 2,583.33 from July 1, 2015 to June 30, 2016; Basic Monthly Rent is$ 5,750.00 from July 1, 2016 to June 30, 2017; and Basic Monthly Rent is$ 8,083.33 from July 1, 2017 to June 30, 2018. Basic Monthly rent shall be paid by Tenant, to the extent reasonably practicable, by Automated Clearing House Network payment or by another form of automatic electronic payment mutually acceptable to Landlord and Tenant. In the event the Basic Monthly Rent is not paid within five (5) business days after the same is due, a late charge equal to five percent (5%) of the delinquent amount shall be assessed as liquidated damages for the additional administrative charges incurred by Landlord as a result of such late payments ("Late Fee"). In addition, if any Basic Monthly Rent is not paid within five (5) business days after the same is due, Landlord may, at its option, charge interest thereon at the rate of five percent (5%) per annum or the highest legal rate, whichever is lower ("Penalty Rate") from the due date until the date received by Landlord. No payment by Tenant or receipt by Landlord of lesser amounts of rent than those stipulated herein shall be deemed to be additional other than on account of the earliest unpaid stipulated rent. No endorsement or statement on any check or any letter accompanying any check or payment as rent hereunder (hereinafter called the "Additional Rent")shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such rent or pursue any other remedy provided in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.this Lease Agreement or provided in law. If Landlord receives from Tenant any two (2) or more returned checks in any twelve
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) Section 3.1. Lessee covenants and agrees to pay to Lessor during the Demised Term the amounts indicated below for the designated portions of the Demised Term as rent hereunder for the Demised Premises during Term which sums shall be due and payable in the Initial Term a indicated monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1installments, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is each such installment to be due and payable promptly in advance on the first day of each month. Rents received after month commencing February 1, 1985 and continuing on the tenth (10th) of any month will include a $25 late fee. Rent not received by the last first day of each subsequent month throughout the month will be cause to void this Lease Agreementremainder of the Demised Term, except that Lessee shall pay Lessor the monthly rental installments for February 1985 and January 1995 on or before the execution hereof: Portion of Demised Annual Monthly Rental Term Rent Installment ------------------ ------ -------------- February 1, 1985 through $150,000.00 $12,500.00 January 31, 1986 February 1, 1986 through $162,000.00 $13,500.00 January 31, 1987 February 1, 1987 through $192,000.00 $16,000.00 January 31, 1993 February 1, 1993 through $210,000.00 $17,500.00 January 31, 1995
Section 3.2. All rents Lessee shall be paid pay all rental and other sums payable by Lessee to Lessor without demand and without set-off at the offices principal place of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 business of Lessor or at such other address place as Lessor may from time shall request in writing delivered to time designate Lessee. Rent for a partial month during the Demised Term, if any, shall be prorated on a daily basis.
Section 3.3. In addition to all rent as herein provided, Lessee by notice in shall pay on or before the manner hereinafter provided. All dates the same shall become due and payable, and as additional rent, all taxes, charges, costs and expenses expenses, or substitutions in lieu thereof, which Lessee is required assumes or agrees to pay pursuant to SECTION 3.01 or other sections hereofunder this Lease, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsthereon, and all other damages, costs and expenses expenses, including attorneys' fees, which Lessors Lessor may suffer or incur by reason of lessee's failure promptly to make agreed payments and any and all other sums which may become due by reason of default of Lessee lessee or failure on Lessee's part to comply with the term agreements, terms, covenants and conditions of this Lease, shall be deemed Lease on Lessee's part to be additional rent hereunder (hereinafter called the "Additional Rent"), and in performed. In the event of nonpayment by Lessee within the time period set forth abovenonpayment, Lessor shall have all the rights and remedies with respect thereto as Lessor have herein provided for the in case of nonpayment of the above specified monthly rentalrent or a breach of condition.
Appears in 1 contract
Rent. Lessee shall make pay the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on in advance of the first day of each monthcalendar month to Lessor at the location stated . Rents A fee of thirty five dollars ( $35.00 ) will be charged to Lessee for any returned check in addition to the rent owed . All initial rents which are partial monthly periods shall be calculated and prorated . Additional Charges: In addition to the rent, there will be a collection of 7% for state sales tax as required by law . Late charges: Late charges shall be applied as follows; Twenty dollars ($20.00) for payment received by Lessor after the tenth close of business on the fifth (10th5th) day of any the month will include a $25 . If the rent due, along with all late fee. Rent charges is not received by the last close of business on the fifth (5th) day of the month, the lessor may , at its option deny Lessee access to the premises after the fifth (5th) day of the month and shall have a lien on Xxxxxx’s property . An additional late charge of of twenty dollars ($20.00) will be cause applied ( in addition to void this Lease Agreementthe first late charge of $20.00) if rent due is not paid in full 30 days after the initial rent due date . All rents shall If rent along with all applicable late charges is not received in full within (45) days of the initial rent due date , a charge of fifty dollars ($50.00) plus the cost of certified mail, will be paid charged to Lessor without demand Lessee and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to proceed with efforts on rent collection and lien enforcement. Use of Premises and Prohibited Storage: the premises may be used and occupied only for the storing of personal property , or the vehicle identified below owned by Xxxxxx. Lessee by notice shall keep the Premises in a clean and sanitary condition and free of rubbish , liquid waste or refuse . Lessee shall not use the Premises for residential purposes or the storage of any animals, explosives, highly flammable, dangerous, hazardous or toxic materials or substances, contraband or illegal substances, or for any unlawful purpose of any kind . Lessee shall not engage in activity in the manner hereinafter providedPremises which produces such prohibited materials . All taxesLessee shall not use the Premises for the operation of any commercial, charges, costs and expenses which industrial manufacturing or distribution business. Lessee is required to pay pursuant to SECTION 3.01 shall not use the Premises for storage of any gasoline or other sections hereoffuel oil, together with all interest and penalties that may accrue thereon grease, lubricants, tires or batteries, except for such items contained in the event operating parts of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and items stored in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalPremises .
Appears in 1 contract
Samples: Storage Lease Agreement
Rent. The Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor (or Lessor’s designated agent) as rent hereunder for the Demised Premises during Leased Premises, the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS sum stated above in the box designated “Monthly Rent” on Page One (60 MONTHS)1) of this Lease until expiration or termination of this Lease, including any extensions or renewals thereof. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1All rents are due and payable in advance, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on or before the first day (1st) of each month. Rents Monthly bills are not generated by Lessor and none are sent to Lessee. Rent for each month is to be payable to the order of “Apartment Mart of Springfield, Inc.” and is to be mailed or otherwise delivered to the Lessor at 0000 Xxxxxxx Xxxx, Xxxxxxxxxxx, Xxxxxxxx 00000 or other address as Lessor may designate in writing. Rent payments received after the fifth (5th) and before/at the tenth (10th) of any the month will must include a late fee of twenty-five dollars ($25 25.00), between the eleventh (11th) and the twentieth (20th) the assessed late feefee is $50.00, between the twenty-first (21st) and the thirtieth (30th) the late fee is $75.00, and after the thirtieth (30th) the late fee is $100.00 which shall be due and payable by Lessee as additional rent. Rent Lessor may refuse to accept cash for rent payments in Lessor’s sole discretion. All payments made by Lessee shall be first applied to past due rent, NSF fees, late fees, and damages before being applied to any current rent obligation. The issuance of any check by Lessee that is returned by Lessee’s bank as not received honored for payment for any reason shall incur an additional charge of Thirty Five and No/100 Dollars ($35.00) or the actual charge incurred by Lessor as a result of such dishonor, whichever is greater. All past due rent, fees and charges created by such dishonored check shall be immediately due and payable in certified funds (e.g., cashier check or money order) as additional rent. In the event of any dishonored check of Lessee, future checks from Lessee may not be accepted as payment for future rent, in Lessor’s sole discretion. In the event that the Lessee shall violate the obligation to pay rent in a timely manner as set forth in this Lease, three (3) or more times in any twelve (12) month period (whether said violations were cured or not) then such conduct shall be a material violation of the terms of this Lease and the Lease may be terminated by the last day Lessor with 10 days’ written notice. Lessee's covenant to pay rent is and shall be independent of each and every other covenant of this Lease. Lessee agrees that any claim by Lessee against Lessor shall not be deducted from rent nor set off against any claim for rent in any action. It is further agreed that the amount of rent paid by Lessee is for the occupancy of the month will Leased Premises and is in no way to be cause construed as payment for the use of any other facilities owned or operated by Lessor except as may be expressly stated in this Lease, all without abatement of any rent as required of Lessee. Lessor reserves the right to void this Lease Agreementcharge a reasonable use fee and to regulate, restrict, terminate, eliminate or modify any recreational facility, all without any abatement of the rent stated herein. All rents shall be paid to In the event that Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.has granted Lessee a Rent Concession, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event that the Lease is terminated during the period the Rent Concession is effective due to the fault of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of the Lessee or failure on Lessee's part to comply with the term Lessee is otherwise in violation of this the Lease, then the Lessor may, in addition to any other remedies of Lessor under this Lease or applicable law, declare the Rent Concession terminated and in such event, the Lessor may demand from Lessee immediate, lump-sum repayment the amount of rent concession given as of the date of termination which shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment immediately payable by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentaladditional rent.
Appears in 1 contract
Samples: Residential Lease Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor Lessor, as rent hereunder for the Demised Premises during leased premises, the Initial Term a monthly rent as follows: base sum of Fifteen Thousand Five Hundred Forty Dollars ($6,000/MONTH FOR THE FIRST 5 YEARS 15,540.00) in total for the term of this lease. This sum shall be made payable in 12 (60 MONTHS). INCREASE BY 10% TO twelve) equal installments of $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 1,295.00 which shall be payable in advance on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late feebeginning June 1, 2017, through May 1, 2018. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents payments shall be paid by check, cashier’s check, or money order. Lessor may offer to receive payments by credit card, debit card, or by electronic bank transfer, and Lessor reserves the right to charge reasonable processing fees for such payment methods. Payments will be accepted from only those persons who entered into this agreement. For the purposes of Paragraph 33 of this lease agreement, titled “Holding Over”, and or for the purpose of extending this lease, the daily rate for this agreement shall be $43.17 per day. A summarized rent schedule is listed below: • 1st day of each month beginning June 1, 2017 through April 1, 2018 - $1,295.00 • Final Payment – May 1, 2018 -$1,295.00 • June 1, 2018 - $0.00 It is understood and agreed that all other charges due hereunder for services provided or charges assessed, including, but not limited to, fines for violating the Rules and Regulations, are hereinafter collectively referred to as “Additional Rent”. In the event any such charges are due under this Lease by Lessee, any amounts paid to Lessor without demand and without set-off at shall be applied to other such charges before applying amounts paid to the offices rent installment. If the payment tendered by Lessee fails to satisfy the total charges outstanding, then Lessee shall immediately pay the total balance due, plus any late charges incurred by virtue of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Lessee’s failure to timely pay all sums due from Lessee to Lessor. If Lessee elects to mail any payment, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time then it is Lessee’s responsibility to time designate to Lessee by notice ensure that payment is received in the manner hereinafter providedmanagement office by the due date. All taxesUnless permitted by law, chargesrent installments may not be withheld for any reason. After two (2) returned checks, costs and expenses which Lessee is required all future rent installments owed must be paid in cashier’s check or money order. Lessor has the right to pay pursuant refuse to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsaccept partial payments, and all damages, costs payments made will be credited to the oldest sum due and expenses which Lessors may incur owing by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee (i) On and after the New Premises Commencement Date, rent for the New Premises under Paragraph 2 of the Lease shall make be payable to Landlord without demand, deduction or setoff, in the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for amounts: Base Rent Per Square Foot Monthly Base Period Per Annum Rent ------ ------------- ------------ NPCD - 05/31/06 $2.70 $11,727.00 06/01/06 - ED $2.78 $12,074.47 If the Demised Premises during term of the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on Lease commences at any time other man the first day of each month. Rents received after the tenth (10th) of a month or terminates at any month will include a $25 late fee. Rent not received by time other than the last day of a month, the amount of rent due from Tenant shall be proportionately adjusted based on that portion of the month will be cause to void that this Lease Agreement. All rents shall be paid is in effect.
(ii) Notwithstanding the foregoing in subparagraph 5.c.
(i) to Lessor without demand the contrary, Landlord hereby agrees to abate the first two (2) monthly installments of rent cominx xxx and without set-off at payable under the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Lease after the NPCD, INC.as amended hereby, 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter providedamount of Eleven Thousand Seven Hundred Twenty-Seven and No/100 Dollars ($11,727.00) per month ($23,454.00 in total). All taxesNotwithstanding anything in this Paragraph 5 to the contrary, charges, costs and expenses Tenant shall have no right to any such rent abatement of rent under this Paragraph 5 at any time after which Lessee is required to pay pursuant to SECTION 3.01 (i) a default or other sections hereof, together with all interest and penalties that may accrue thereon in the an event of Lessee's failure default has occurred with respect to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with Tenant under the term of this Lease, shall be deemed to be additional rent hereunder as amended hereby, (hereinafter called ii) the "Additional Rent")Lease, as amended hereby, is not in full force and in effect, (iii) Tenant has assigned the event Lease, as amended hereby, or has entered into a sublease of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment or any portion of the above specified monthly rentalNew Premises or (iv) Tenant is in default under any other written agreement with Landlord.
Appears in 1 contract
Samples: Lease Extension and Modification Agreement (Innotrac Corp)
Rent. Lessee shall make pay to Lessor the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as sum total rent hereunder of $ .00 for the Demised Premises during lease term. This sum total rent amount shall be divided into twelve equal installment payments of $ .00 payable to JTS Properties, at 0000 X Xxxx Xx Suite B, Champaign, IL 61820 or the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1box at 000 X Xxxxx Xx, 2002 THROUGH SEPTEMBER 30Xxxxxxxxx, 2007XX, or wherever designated in writing by Lessor.
(b) Rent is a. Said rent shall be due and payable in advance on the first day of each monthand every month of said term. Rents received after The Lessee’s first rent installment is due on August 1, 2012, and the tenth last installment will be due on July 1, 2013. Lessor will not issue keys until the first rent installment is received. All rent payments must be made in one (10th1) cash or check payment, and may not be divided among various Lessees.
b. Lessee will pay a late fee equal to 5% of any month will include a $25 late fee. Rent the monthly installment if rent is not received by the last 5th day of the month month. In the event the Lessee does not pay rent that is due and owing by the 5th day of the month, Lessor may elect to serve a Landlord’s Five-Day Notice upon Lessee. In the event Lessee’s right to possession is terminated for non-payment of rent, Lessee’s obligation for rent, which accrues after Lessee’s possession has been terminated, will continue to accrue until the property is re-leased or upon the expiration of the lease term, whichever comes first.
c. Any check for rent returned by the bank due to insufficient funds or any other reason will be cause charged a $50.00 fee. The Lessor reserves the right to void demand that all subsequent rent payments be made in cash or with a cashiers check. It is hereby agreed between the parties that the amount paid by Lessee to Lessor pursuant to this Lease Agreement. All rents agreement shall be paid applied first to any past due and unpaid charges and thereafter to current charges.
d. Lessee has the right to sublet or assign said leased premises to applicants approved by the Lessor. If Lessee does sublet leased premises, Lessee understands that, in absence of a written agreement between Lessor and Lessee to the contrary, Lessee expressly remains liable for all obligations and duties owed Lessor under terms of this lease. Lessor will impose a $50.00 charge for each sublease made by Lessee or his Sublessees. The charge represents the Lessor’s actual costs for Lessor’s time and documentation, verification, record changing, and/or apartment inspection. Lessee’s subletting or assigning without demand the approval of Lessor shall constitute a breach of this lease, and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, pursue any and all damages, costs and expenses which Lessors may incur by reason of any default of remedies against Lessee or failure on Lessee's part to comply with the term of as provided for under this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentallease.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) The rent for each year of the Original Term shall be in the amount [ * ] to be paid in equal monthly installments of [ * ] beginning on the Rental Commencement Date (as defined below), provided, however, that beginning on the date that this Agreement is executed by Lessor, and continuing until the Rental Commencement Date, Lessee covenants and agrees shall pay to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007"Interim Rent") in the amount of [ * ].
(b) Monthly rental payments shall be due and payable on the first day of the month. If the date upon which this Agreement is executed by Lessor is not the first day of the month, the Interim Rent is for the first month shall be prorated and shall be due on the first day of each monththe following month along with the first full monthly Interim Rent payment. Rents Monthly rental payments shall be paid to Lessor at the address set forth in Section 28 or to such other address as Lessor may, from time to time, designate in writing at least thirty (30) days in advance of any rental payment date. Such monthly installments shall be deemed late if not received after by Lessor by the tenth (10th) day of any month will include a $25 late feeeach [*] We are seeking confidential treatment of these terms, which have been omitted. Rent not received by The confidential portion has been filed separately with the last Securities and Exchange Commission. month, and shall bear interest at the rate of six percent (6%) per annum thereafter until paid with interest accruing upon the first day late, i.e., the eleventh (11th) day of the month will be cause month. Lessor must notify Lessee in writing of failure to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address receive a rental payment as Lessor may from time to time designate to Lessee by notice set forth in Section 13 in the manner hereinafter provided. All taxes, charges, costs and expenses prescribed in Section 28.
(c) The Rental Commencement Date shall be the first day of the first month following the date upon which Lessee is required or its contractor first commences physical construction of the improvements described in Section 1. The conducting of any Engineering Analysis (as defined in Section 7(a)) or any pre-construction activities (including but not limited to pay surveying, frequency coordination, installation coordination) shall not be deemed to be physical construction.
(d) If the Rental Commencement Date has not occurred on or before ninety (90) days after execution of this Agreement, Lessor shall have the conditional right to terminate this Agreement. Should Lessor elect to terminate pursuant to SECTION 3.01 or other sections hereofthis section, together with all interest and penalties that may accrue thereon Lessor shall provide written notice of such intent to Lessee. Within thirty (30) days of receipt of such notice, Lessee shall have the option to commence payment of full rent, in which case the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, Rental Commencement Date shall be deemed to be additional the date of Lessee's receipt of Lessor's notice to terminate and such notice to terminate shall be null and void.
(e) The annual rent hereunder (hereinafter called for each Renewal Term shall be equal to the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have rent paid for the nonpayment immediately preceding Renewal Term or Original Term plus [ * ]. [*] We are seeking confidential treatment of these terms, which have been omitted. The confidential portion has been filed separately with the above specified monthly rentalSecurities and Exchange Commission.
Appears in 1 contract
Samples: Lease Agreement (Fastnet Corp)
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Eight thousand ----- month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment as provided in Section A of this Paragraph. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 8,744.00 shall be paid upon execution of the Lease by both Lessor and Lessee, which sum represents the amount of the first month's rent. A deposit of $17,488.00 as a Security Deposit shall be made by Lessee and held by Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease, and shall be paid upon execution of the Lease by both Lessor and Lessee. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1If Lessee is not in default of any provision of this Lease, 2002 THROUGH SEPTEMBER 30this sum, 2007.
(b) Rent is without interest thereon, shall be applied toward the rent due for the last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. Monthly rent shall be paid in advance on the first (1st) day of each monthcalendar month as follows: Months Monthly Rent/NNN ------ ---------------- 01-06 $ 8,744.00 07-12 $18,698.00 13-24 $19,397.00 25-36 $20,124.00 37-48 $20,881.00 49-60 $21,668.00 Rent for any period during the term hereof which is for less than one (1) full month shall be a pro-rata portion of the monthly rent payment. Rents received after Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the tenth (10th) exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within ten (10) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee's default with respect to void the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease Agreement. All rents shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be paid revised to conform to the date of Lessor's delivery of possession. In the event that Lessor without demand and without set-off shall permit Lessee to occupy the Premises prior to the commencement date of the term, such occupancy shall be subject to all of the provisions of this Lease, including the obligation to pay rent at the offices same monthly rate as that prescribed for the first month of XXXXXXXXXX XXXXXX CONSTRUCTION COthe Lease term. Lessee shall have the right to enter the Premises prior to commencement date to install fixtures and equipment, provided Lessee shall not unreasonably interfere with construction of improvements by Lessor's contractors., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided
A. Cost-of-Living Increase. Not applicable. -----------------------
B. All taxes, insurance premiums, Outside Area Charges, late charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofhereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs costs, and attorney's fees and expenses which Lessors Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the hereinafter, "Additional Rent"), and and, in the event of nonpayment non-payment by Lessee within the time period set forth aboveLessee, Lessor shall have all of the rights and remedies with respect thereto as Lessor have has for the nonpayment non-payment of the above specified monthly rentalinstallment of rent.
Appears in 1 contract
Samples: Lease (Oratec Interventions Inc)
Rent. Lessee shall make pay to Lessor the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as sum total rent hereunder of $X.XX for the Demised Premises lease term. This sum total rent amount shall be divided into 12 equal installment payments of $X.XX during the Initial Term a monthly lease term, payable to Cochrane Premier Properties, at 0000 X Xxxx Xx. Suite B, Champaign, IL 61820 or the rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1box at 000 X Xxxxx Xx, 2002 THROUGH SEPTEMBER 30Xxxxxxxxx, 2007XX, or wherever designated in writing by Lessor.
(b) Rent is a. Said rent shall be due and payable in advance on the first day of each monthand every month of said term. Rents received after The Lessee’s first rent installment is due on August 1, 20XX, and the tenth last installment will be due on July 1, 20XX. Lessor will not issue keys until the first rent installment is received. All rent payments must be made in one (10th1) cash or check payment, and may not be divided among various Lessees.
b. Lessee will pay a late fee of any month will include a $25 late fee. Rent 50.00 if rent is not received by the last 5th day of the month, and an additional $2.00 per day for each day rent is unpaid after the 5th day of the month . In the event the Lessee does not pay rent that is due and owing by the 5th day of the month, Lessor may elect to serve a Landlord’s Five-Day Notice upon Lessee. In the event Lessee’s right to possession is terminated for non-payment of rent, Lessee’s obligation for rent, which accrues after Lessee’s possession has been terminated, will continue to accrue until the property is re-leased or upon the expiration of the lease term, whichever comes first.
c. Any check for rent returned by the bank due to insufficient funds or any other reason will be cause charged a $50.00 fee. The Lessor reserves the right to void demand that all subsequent rent payments be made in cash or with a cashiers check. It is hereby agreed between the parties that the amount paid by Lessee to Lessor pursuant to this Lease Agreement. All rents agreement shall be paid applied first to any past due and unpaid charges and thereafter to current charges.
d. Lessee has the right to sublet or assign said leased premises to applicants approved by the Lessor. If Lessee does sublet leased premises, Lessee understands that, in absence of a written agreement between Lessor and Lessee to the contrary, Lessee expressly remains liable for all obligations and duties owed Lessor under terms of this lease. Lessor will impose a $50.00 charge for each sublease made by Lessee or his Sublessees. The charge represents the Lessor’s actual costs for Lessor’s time and documentation, verification, record changing, and/or apartment inspection. Lessee’s subletting or assigning without demand the approval of Lessor shall constitute a breach of this lease, and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, pursue any and all damages, costs and expenses which Lessors may incur by reason of any default of remedies against Lessee or failure on Lessee's part to comply with the term of as provided for under this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentallease.
Appears in 1 contract
Samples: Lease Agreement
Rent. For Manufactured Home: Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder $[UUSER("Rental Payment")] per calendar month for rental, without deduction, for the Demised Premises during Premises, payable monthly in advance on the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)Fifteenth day of each calendar month. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1Time is of the essence with regard to all payments, 2002 THROUGH SEPTEMBER 30fees, 2007.
(b) Rent is penalties and corresponding due on dates contained herein. The prorated rental from the date of move-in to the first day of each monththe month following is $ . Rents Lessee's right to possession of the Premises is expressly contingent upon the prompt and timely payment of rent and other charges due hereunder, and the use of the Premises by Lessee is obtained. Only on the condition those sums are promptly and timely paid. Lessee shall pay promptly all sums other than rent pursuant to the provisions of this Agreement within five (5) days of the due date. Monies received after by Lessor from Lessee shall first be applied to discharge any past due amounts, including but not limited to, past due late charges, check charges, key charges, repair charges and utility bills owed but not paid by Lessee. After such past due amount(s) have been paid, the tenth (10th) remainder of any month will include a $25 late fee. Rent not monies received by Lessor from Lessee shall be applied to past due rent, then to current rent. If the last day rent or other sums payable hereunder are not paid within five (5) days of the month date on which such are due, a late charge of $ 25.00 plus $5 per day thereafter until paid in full will be cause assessed and be immediately due from Lessee to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsLessor, and a fee of $ 60.00 will be assessed for all damages, costs and expenses which Lessors may incur by reason of checks returned due to insufficient funds or for any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent")other reason, and in the event of nonpayment by be immediately due from Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalto Lessor.
Appears in 1 contract
Rent. Lessee shall make 4.1 During the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day continuance of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the primary term of this Lease, Lessee shall pay the Lessor as its minimum rental charge for rent of said premises the sum of $8,334.00 on the Commencement Date, and a like sum on the first (1st) day of each and every month thereafter, monthly in advance, during the primary term of this Lease; i.e., $100,000.00 per year. If the Commencement Date is a date other than the first (1st) day of a month, Lessee, on the Commencement Date, shall pay rent for the fractional month. All subsequent rental payments shall be due and payable on the first (1st) day of each and every month thereafter.
4.2 Lessee shall pay as additional rent any money and charges required to be paid pursuant to the terms of this Lease, whether or not the same may be designated "additional rent". If such amounts or charges are not paid at the time provided in this Lease, they shall nevertheless, if not paid when due, be collectible as rent thereafter falling due, but nothing herein contained shall be deemed to suspend or delay the payment of any amount of money or charge at the time the same becomes due and payable hereunder, or limit any other remedy of Lessor.
4.3 All payments of rent or other money payable to Lessor shall be made to Lessor at P.0. Xxx 000000, Xxxxx, Xxxxxxxx, 00000, unless notified otherwise. Payment by check shall not be deemed as payment unless the check is honored forthwith by the bank upon which it is drawn, when presented for payment. Should Lessor not receive any rent or other payment obligation within seven (7) days when due, an automatic late payment administrative assessment of seven percent (7%) per annum on the unpaid amount shall then become due and payable to Lessor, without advance notice.
4.4 In the event Lessee exercises any of its options to renew this Lease, Lessee's annual and monthly rental due under paragraph 4.1 for the option term shall be adjusted to reflect changes in the Consumer Price Index U.S. City Average (1982-1984-100), All Items, for all Urban Consumers Index published by the United States Department of Labour's Bureau of Statistics. Should the Bureau discontinue the publication of the above Index, or publish the same less frequently, or alter the same in some other manner, then Lessor shall adopt a substitute index or substitute procedure which reasonably reflects and monitors consumer prices. The rent shall be adjusted in direct proportion and in the same direction to reflect the percentage change in the Index between the first month of the primary term and the last month of the primary term, provided however that in no event shall Lessee's minimum monthly and annual rental be over less than that paid in the primary term. The base Index shall be the published Index for the Commencement Date of the first year of the primary term of this Lease.
4.5 For example purposes only, if the primary term of the Lease is five years, the annual rent is $100.00, and the percentage change in the Consumer Price Index (CPI) is 20% between the first month of the primary term and the last month of the primary term, then the annual rent for the option term will be $120.00.
4.6 No payment by Lessee or receipt by Lessor of a lesser amount than the monthly rent herein stipulated shall be deemed to be additional other than on account of the earliest stipulated rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent hereunder (hereinafter called the "Additional Rent")be deemed in accord and satisfaction, and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all accept such check or payment without prejudice to Lessor's right to recover the rights and remedies with respect thereto as Lessor have for the nonpayment balance of the above specified monthly rentalsuch rent or pursue any other remedy provided in this Lease.
Appears in 1 contract
Samples: Lease (Tucows Inc /Pa/)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees During the period commencing on the date of this Schedule to pay Lessor as rent hereunder the Base Lease Commencement Date (the “Interim Term”), the Rent for the Demised Premises during Equipment shall be equal to $80,000 (the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS“Interim Rent”). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) From and after the Base Lease Commencement Date, Rent payments shall be made, in monthly installments of $160,000 (0.0320 multiplied by $5,000,000, which is due the sum of the Equipment cost plus all Soft Costs funded in connection with the lease of the Equipment) plus applicable tax, on the 1st day of the month for each month during the term set forth in paragraph 2 of this Schedule; provided that on the date of the execution of this Schedule, Lessee shall deposit with Lessor the first monthly rent payment in the amount of $160,000 (the “First Month Advance Payment”) and the last monthly Rent payment in the amount of $160,000 (the “Last Month Advance Payment”). Absent the existence of an uncured Event of Default on the first day of each month. Rents received after the tenth (10th) first month of any the Term, Lessor will apply the First Month Advance Payment against the Rent due for the first month will include a $25 late fee. Rent not received by of the last Term, and absent the existence of an uncured Event of Default on or before the first day of the last month of the Term, Lessor will be cause to void this Lease Agreementapply the Last Month Advance Payment against the Rent due for the last month of the Term. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), As used herein and in the event of nonpayment by Lessee Lease, the term “Soft Costs” shall include, but not be limited to, delivery costs, design and engineering costs, extended warranties, installation costs, related labor, leasehold improvements, maintenance and upgrade contracts, sales/use taxes, software, tradeshow booths, training and upgrades to equipment. Notwithstanding the foregoing, “Soft Costs” shall exclude amounts used to repay Lessee’s indebtedness to Hercules Capital, Inc. and its affiliates, and Lessor acknowledges and agrees that the agreed costs relating to the Harro Hofliger equipment purchase fall within the time period set forth above, Lessor shall have all the rights this fifteen percent (15%) allotment and remedies with respect thereto as Lessor have for the nonpayment are acceptable. The amount of the above specified Soft Costs related to the Equipment leased pursuant to this Schedule may not exceed fifteen percent (15%) of the sum of the Soft Costs and the Equipment Costs amount funded pursuant hereto. Lessee shall pay applicable sales/use taxes to Lessor on a monthly rental.basis concurrently with the payment of the Rent due hereunder
Appears in 1 contract
Rent. Lessee A. On or before the first day of each and every month during the Term, Tenant shall make pay the following rental payments annual sum stated in Schedule I attached hereto ("Rent") in equal monthly installments as stated in Schedule I attached hereto to Lessor:
Landlord. If the Rent is not received within ten (a10) Lessee covenants days after the due date, Tenant shall pay a penalty of five percent (5%) of the amount due, and after thirty days, plus interest at Branch Bank & Trust prime rate plus two percent (2%) per annum, until paid in full. Tenant agrees to pay Lessor as rent hereunder for electronically transfer to the Demised Premises during designated bank account of the Initial Term a Landlord the monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007payment without charge to the Landlord.
(b) B. Notwithstanding the foregoing, the Rent is due shall be increased in the amounts and at the times set forth on Schedule I, and the monthly installments of Rent shall be increased accordingly. If the Term commences other than on the first day of each month. Rents received after the tenth (10th) of any a month will include a $25 late fee. Rent not received by or ends other than on the last day of the month, the Rent for such month will be cause to void this Lease Agreement. All rents shall be paid prorated.
C. Tenant hereby agrees to Lessor without demand make a make a deposit of Twenty Three Thousand Dollars with Landlord. Such deposit shall serve as security of Tenant's performance hereunder and without set-off at shall not accrue interest during the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in Term hereof. In the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together event that Tenant shall comply with all interest of the terms, provisions and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term covenants of this Lease, the security shall be deemed returned to be additional rent hereunder Tenant within thirty (hereinafter called 30) days after the "Additional Rent"), and in date fixed as the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment end of the above specified monthly rentalLease and after delivery of possession of the Premises to Landlord.
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor to Landlord, as rental for said term, as follows $ per month, in advance, with the first month's rent hereunder for becoming due upon
(i) the Demised Premises during execution of this Rental Agreement or,
(ii) the Initial Term a monthly rent as follows: $6,000/MONTH FOR RENT IS DUE AND PAYABLE ON THE FIRST 5 YEARS (60 MONTHS)DAY OF EACH MONTH!! Checks should be made payable to Windsor Park Retirement Apartments. INCREASE BY 10% TO Rent should be mailed to 000 Xxxxx Xxxxxx, Dubuque, IA 52001. There will be a late rent service charge on all over due rents: more than five days late but less than eleven $6,600/MONTH STARTING WITH OCTOBER 115.00, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent in the event that the rent is due on more than 11 days delinquent the first day tenant shall incur an a additional charge of each month$25.00. Rents received after Late fees identified herein are cumulative and a total of $40.00 per month can be incurred. This charge is necessary because of the tenth (10th) additional paperwork and book-keeping expense of any month will include handling late payments. All rent or deposit checks returned by the bank because of insufficient funds shall be charged a $25 25.00 NSF fee in addition to the late feefee charged. Rent not Please note that all received payments by a landlord shall first be applied to late fees incurred. Any remaining proceeds shall be applied to rent, with the rent being paid in the order in which it is incurred, which application result in the last will rent incurred being paid last. This provision shall govern the application of all payments received by the last day of landlord from the month will tenant unless otherwise agreed to by the landlord and tenant and documented in writing. Prorated rent for early move in shall be cause to void this Lease Agreement$ _/day x _ days = $ . All rents rules and regulations and lease agreement conditions shall be paid to Lessor without demand and without set-off applicable at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COthis time., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Dwelling Unit Rental Agreement
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder $ per calendar month for rental, without deduction, for the Demised Premises during Premises, and storage shed, if this is initialed by the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent Lessee and carport if this is due on initialed by the Lessee The prorated rental from the date of move-in to the first day of each month. Rents received after the tenth (10th1st) of any month will include a $25 late fee. Rent not received by the last day of the month following is $ . Xxxxxx’s right to possession of the Premises is expressly contingent upon the prompt and timely payment of rent and other charges due hereunder, and the use of the Premises by Xxxxxx is obtained only on the condition that such sums are promptly and timely paid. Lessee shall pay promptly all sums other than rent pursuant to the provisions of the Agreement within five (5) days following Lessor’s delivery of a statement of account therefor. Monies received by Lessor from Lessee shall first be applied to discharge any past due amounts, including but not limited to, past due late charges, check charges, key charges, taxes, insurance and utility bills owed by Lessee. After such past due amount(s) have been paid, the remainder of any monies received by Lessor from Lessee shall be applied to past due home payments (if applicable), past due rent, then to current rent. In accordance to property Texas code you will be cause charged a late fee of 10% of your lot rent currently $ Payment due date is the 1st, payment is late on the 2nd and the late fee will be charged on the 4th. A fee of $ 38.00 will be assessed for all checks returned due to void this Lease Agreementinsufficient funds or for any other reason and be immediately due from Lessee to Lessor. All rents shall Checks will not be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COaccepted from Lessee once a check is returned for insufficient funds., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Two Thousand, ---- Eight Hundred Seventy-Three and 00/100 Dollars ($2,873.00) per month in lawful money of the Initial Term a monthly rent United States of America. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 2,873.00 shall be paid upon execution of the Lease, which sum represents the amount of the first month's rent. If Lessee is not in default of any provision of this Lease, this sum, without interest thereon, shall be applied toward the rent due for the last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. Pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease Agreement, a deposit of $2,490 shall be made by Lessee and held by Lessor. INCREASE BY 10% TO The deposit shall be paid upon execution of the Lease. $6,600/MONTH STARTING WITH OCTOBER 2,873.00 shall be paid on August 1, 2002 THROUGH SEPTEMBER 301990, 2007.
(b) Rent is due and in advance on the first (1st) day of each monthsucceeding calendar month until July 31, 1993. Rents received after Rent for any period during the tenth term hereof which is for less than one (10th1) full month shall be a pro-rata portion of the monthly rent payment. Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within five (5) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of late payment by Lessee. Acceptance of any default late charge shall not constitute a waiver of Lessee or failure on Lessee's part default with respect to comply with the term overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be revised to conform to the date of Lessor's delivery of possession. In the event that Lessor shall permit Lessee to occupy the Premises prior to the commencement date of the term, such occupancy shall be subject to all of the provisions of this Lease, shall be deemed including the obligation to be additional pay rent hereunder (hereinafter called at the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto same monthly rate as Lessor have that prescribed for the nonpayment first month of the above specified monthly rentalLease term.
Appears in 1 contract
Samples: Lease (Numerical Technologies Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Section 2.01. The Lessee covenants and agrees to pay to Lessor as minimum rent hereunder (hereinafter called "Base Rent") for said Premises of Three hundred eighty three thousand four hundred and 00/100 ($383,400.00) dollars for the Demised Premises during term hereof which shall accrue at the Initial Term a annual rate of Seventy six thousand six hundred eighty and 00/100 ($76,680.00) dollars payable in equal monthly rent as follows: installments of Six thousand three hundred ninety and 00/100 ($6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)6,390.00) dollars. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is for any partial month shall be prorated and paid on the first of that month. All monthly payments are due and payable in advance on the first day of each calendar month, without demand, deduction, counterclaim or setoff. Rents Lessee agrees to pay to Lessor on the date hereof and Lessor acknowledged that it has received after from Lessee this day rent for the tenth (10th) first month of the term of the Lease.
Section 2.02. The Lessee shall pay as additional rent to the Lessor 1.8% of any month will include a $25 late fee. Rent not received by increase over: (i) the last day of the month will be cause to void this Lease Agreement. All rents annual fiscal year 1999 real estate taxes and other municipal or public assessments (excluding assessments for water and sewer which shall be paid by Lessee pursuant to Section 3.01 hereof) levied against the land and building of which the Demised Premises are a part; and/or (ii) the annual calendar year 1998 operating expenses for the land and building of which the Demised Premises are a part. The additional rent computed under this Section 2.02 shall be prorated should this Lease commence or terminate before: (i) the end of any fiscal tax year for that portion related to taxes; or (ii) the end of any calendar year for that portion related to operating expenses. The Lessee shall pay to Lessor without demand such additional rent within fifteen (15) days after written notice from Lessor to Lessee that it is due. Upon request of Lessor, Lessee shall make monthly payments of additional rent on the first of each month equal to one-twelfth (1/12) of the amount of such additional rent last paid by Lessee or as reasonably projected by Lessor to be due from Lessee, with a final accounting and without setpayment for each tax and operating period to be made within thirty (30) days after written notice from Lessor of the exact amount of such additional rent. In the event taxes on the Demised Premises, based upon which Lessee shall have paid additional rent, are subsequently reduced or abated, Lessee shall be entitled to receive a rebate of 1.8% of the amount abated, provided that the amount of the rebate allocable to Lessee shall in no event exceed the amount of additional rent paid by Lessee for such fiscal year on account of real estate taxes under this Section 2.02, and further provided the rebate allocable to Lessee shall be reduced by 1.8% of the cost of obtaining such reduction or abatement. Operating expenses for the purpose of this section shall include all costs incurred by Lessor in connection with the operation of the building of any name, nature or kind, excluding expense of renting space in the building, mortgage debt service and income or corporate excise taxes assessed against the Lessor, and excluding all capital expenditures except for an annual charge-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is for (a) capital items required to pay be made by local, state or federal authorities pursuant to SECTION 3.01 law, regulation or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure ordinance or (b) expenditures for capital items required to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee replace or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder repair worn out or obsolete items or (hereinafter called the "Additional Rent"c), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with Section 3.1 During the term of this Lease, Tenant agrees to pay to Landlord, [***] ($[***]) Dollars per annum, payable in equal monthly installments of $[***] on or before the first day of each month (the “Base Rent”), which Base Rent shall increase on each anniversary of the Commencement Date by an amount equal to the then-current Base Rent multiplied by three (3%) percent. Notwithstanding the preceding, Tenant shall not be obligated to pay Base Rent during the first ninety days following the Commencement Date.
Section 3.2 Any sums of money required to be paid under this Lease by Tenant in addition to the Base Rent herein provided, shall be deemed “Additional Rent” due and payable after demand therefor with the Base Rent next due or as may be otherwise provided herein. Such Additional Rent shall be deemed to be additional rent and shall constitute “Rent” hereunder (hereinafter called and shall be collectible in the "same manner and with the same remedies as if they had been Base Rent originally reserved herein. Tenant’s obligation to pay Additional Rent accruing during the term of the Lease shall survive the earlier termination and/or expiration of the term of this Lease. If Landlord receives from Tenant any payment less than the sum of the monthly Rent, including Additional Rent"), and other charges then due and owing, Landlord, in its sole discretion, may allocate such payment in whole or in part to the event of nonpayment by Lessee within the time period set forth aboveBase Rent, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalany Additional Rent, and/or other charge then due or to any combination thereof.
Appears in 1 contract
Samples: Lease Agreement (NTN Buzztime Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and During the term of this Lease, commencing on December 1, 2002, (except as provided in this subsection), Tenant agrees to pay Lessor Landlord, as a fixed minimum annual rent hereunder for the Demised Premises during Premises, the Initial Term a sum of (see addendum #2 collectively the "rent schedule), payable in advance in monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS installments (60 MONTHSsee addendum #2), subject to the increases provided for in Section 2(e). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is All rent payments will be due on the first day of each month. Rents received after Should Tenant commence operations within the tenth (10th) of any month will include Demised Premises prior to December 1, 2002, Tenant shall pay a $25 late fee. Rent not received by the last day pro-rata amount of the month will be cause to void this Lease Agreementmonthly rental payment from the date Tenant commenced operations. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term On execution of this Lease, Tenant shall pay the first month's rent.
(b) All payments of rent and other sums to be paid to the Landlord shall be made at Landlord's address listed above or at such place as the Landlord shall designate in writing from time to time.
(c) In addition to the fixed minimum annual rent, Tenant shall pay as additional rent to Landlord any and all payments or charges required pursuant to paragraphs 6 and 7 herein and all other sums of money, payments or charges required to be paid by Tenant under this Lease, whether or not the same, are designated as "additional rent". If such amounts or charges are not paid at the time provided in this Lease, they shall nevertheless, if not paid when due, be collectible as additional rent with the next installment of rent falling due hereunder, but nothing herein contained shall be deemed to suspend or delay the payment of any money or charge at the time same becomes due and payable hereunder, or limit any other remedy of the Landlord.
(d) All payments received shall be applied first to return check charges and late charges due pursuant to Paragraph 25 below, then to other amounts such as additional rent hereunder due hereunder, then to rent due hereunder.
(hereinafter called e) For each Lease year following the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment initial first twelve (12) months of the above specified monthly rentallease term, including any lease year during any extended term, the fixed minimum annual rent shall be increased by three percent (3%).
Appears in 1 contract
Rent. SECTION 2.1 In consideration of the leasing aforesaid, Lessee shall make the following rental payments to Lessor:
(a) Lessee hereby covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as followsLessor, in care of Waste Management of Phoenix, 3000 Xxxxx 00xx Xxxxxx, Xxxxxxx, Xxxxxxx 00000 (Xxtention: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHSVice President-Controller). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address place as the Lessor may from time to time designate in writing, aggregate rental [Omitted; filed separately with the Securities and Exchange Commission] per annum for the term of this Sublease (sometimes herein referred to Lessee by notice as the "rent") payable monthly in installments of [Omitted; filed separately with the Securities and Exchange Commission] each on the first day of each and every month of the term hereof beginning September 1, 1997. However, if the term of this Sublease shall commence on a date other than the first day of a calendar month or end on a day other than the last day of a calendar month, the first and last month's rent shall be prorated based upon the ratio that the number of days in the manner hereinafter provided. All taxes, charges, costs and expenses which term within such month bears to the total number of days in such month.
SECTION 2.2 Lessee is required agrees to pay pursuant in addition to SECTION 3.01 or other sections hereofthe rent herein reserved, together all sums which may become due by reason of the failure of Lessee to comply with all interest the covenants of this Sublease and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, any and all damages, costs costs, expenses and expenses impositions which Lessors Lessor may suffer or incur by reason of any default of the Lessee or failure on Lessee's its part to comply with all the term covenants of this LeaseSublease, and each of them.
SECTION 2.3 xee within thirty (30) days of the termination of Lessee's tenancy hereunder, without interest. In the event that Lessee shall breach any provision of this Sublease which may be cured through the payment of money, or the hiring of services, Lessor shall be deemed entitled to be additional rent hereunder (hereinafter called so cure, using the "Additional Rent")Lessee's security deposit, and in upon written notice to Lessee, Lessee shall within twenty-one (21) days replenish the event of nonpayment by Lessee within security deposit to the time period sum set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Sublease Agreement (Stericycle Inc)
Rent. Lessee 2.01 Throughout the Term of this Lease, TENANT shall make pay to LANDLORD at 000 Xxxxxxx Xxxxxx, Xxxxxx, Xxx Xxxx or such other place as LANDLORD may designate by written notice, a Basic Annual Rent in the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a amount of $89,100.00 in advance in equal monthly rent as follows: installments of $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 7,425.00 each on the first day of each and every month during the Term hereof without notice, demand, off-set or abatement. In consideration of entering into this Agreement, CDI agrees to a rent rebate for the six-month period covering October 2005 through March 2006. At the event of early termination of lease, rebate at the discretion of the LANDLORD may be withdrawn.
2.02 TENANT has paid one month’s rent upon the signing hereof. Rents received after Said Rent shall be applicable to the tenth (10th) month of April 2006. December 15, 2005 2 /s/ JD Initial /s/ JU
2.03 Not withstanding anything to the contrary contained in this lease and notwithstanding of the other remedies of the LANDLORD contained herein, in the event that any month will include item of Basic Annual Rent or Additional Rent is not paid to the LANDLORD within ten days of the due date thereof, then and in that event TENANT shall pay to the LANDLORD as a $25 late fee. fee for LANDLORD’s additional cost in connection with LANDLORD’s bookkeeping, accounting, etc., an amount equal to six cents for each dollar of Basic Annual Rent or Additional Rent not received paid by such date. It is understood by the last day of TENANT that the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee LANDLORD is required to pay pursuant to SECTION 3.01 or other sections hereofmake payments for over-rent, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountstaxes, and all damages, costs other expenses and expenses which Lessors that LANDLORD would be severely damaged if Basic Annual Rent and Additional Rent is not paid when due.
2.04 Intentionally deleted
2.05 TENANT may incur by reason of any default of Lessee or failure on Lessee's part exercise its right to comply with vacate the term of this Lease, shall be deemed premises upon giving twelve months notice and continued payments to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalLANDLORD.
Appears in 1 contract
Samples: Lease Agreement (Cargo Connection Logistics Holding, Inc.)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor as the Landlord rent hereunder for in the Demised Premises during the Initial Term a monthly rent as follows: amount of $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO 10,998, in six equal installments of $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 1,833 on the first day days of each month. Rents received after August, September, October, January, February and March during the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement2018 / 2019 academic year. All rents will be paid electronically via the SigEp Xxxx Payment System. Tenant will receive a $100 credit on the following semester’s xxxx for payment of the entire amount due for the semester ($5,499) by the end of the first week of class each semester. If Xxxxxxx does not pay 100% of their required financial obligation by midnight on the due date or has not requested and been granted a “special payment plan” pursuant to Paragraph I.E., of the Membership Agreement, Tenant will be immediately suspended from the Sigma Phi Epsilon fraternity. Tenant will be fined 10% of the total outstanding amount due and owing from the Tenant should any financial obligation remain unpaid in excess of thirty (30) days. The fine will increase to 20% of the total outstanding amount due and owing from the Tenant should any financial obligation remain unpaid in excess of sixty (60) days. In addition to Rent, Tenant agrees to pay any and all of the following, as may arise from time to time: (1) late fees and interest on delinquent accounts as specified in the rules and regulations of the Chapter and alumni corporations; (2) fines for violation of Fraternity rules; (3) the cost of party pictures and/or group pictures of members ordered by Tenant; (4) miscellaneous special assessments that arise via simple majority vote of the Fraternity; and (5) the cost of all resale items, including, but not limited to t-shirts, party favors, etc. (all resale items shall be paid to Lessor without demand for in advance when the Tenant places the order). Any and without set-off at all financial obligations set forth in this Agreement shall survive the offices termination of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee this Agreement and/or the early vacancy of the Fraternity House by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsTenant, and the Fraternity shall have the right to take any and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period actions expressly set forth aboveherein, Lessor shall have all as well as any other legal or equitable action otherwise available to the rights Fraternity, to collect such financial obligations that remain due and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalpayable.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make pay rent to the following rental payments Board as follows
a. Rent shall be calculated at the beginning of each Lease Year based on the square footage leased to Lessor:
(a) Lessee covenants and agrees to pay Lessor as for that Lease Year. Payments of rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is shall be due on or before the first day of each month.
b. In the first Lease Year, Lessee shall pay an annual rent at rate of $4.75/ft2 for space exclusively used by Lessee payable in twelve (12) equal monthly payments.
c. Beginning in the second Lease Year (July 1, 2017-June 30, 2018), Lessee shall pay an annual rent at a rate of $4.80/ft2 for space exclusively used by Lessee and shall pay $2.40/ft2 for interior space shared between MPS and Lessee. Rents received after However the tenth lease rate for interior space shared between MPS and Lessee shall be prorated based on the percentage obtained by dividing Lessee’s enrollment on the third Friday of September by 800, which is in line with Lessee’s projected enrollment when Xxxxxx’s school is fully enrolled.
d. Beginning in the third Lease Year (10thJuly 1, 2018-June 30, 2019), the rental rate for both categories of space used by Lessee shall increase by 1%, and shall increase by 1% each Lease Year thereafter.
e. First and last months’ rent payments are due five (5) days prior to the commencement date of any month will the Initial Term of the Lease. Rent is to be paid by cashier’s or regular check and mailed to: Facilities and Maintenance Services, 0000 Xxxxx 00xx Xxxxxx, Xxxxxxxxx, Xxxxxxxxx 00000, Attention: Director.
f. If Xxxxxx's use of the Leased Premises is for purposes other than a non- instrumentality charter school as set forth in Section 5 above, then Xxxxxx's rental fee to the Board for the Exclusive Space shall be recalculated at a rate of $12.00 per square foot. Any calculation of rent triggered as a consequence of Xxxxxx’s use of the Leased Premises no longer being for a non-instrumentality charter school as set forth in Section 5 shall also include a $25 late fee1.5% annual cost increase beginning with the Lease Year following the change in Lessee's use.
g. Lessee shall receive rent credits based upon Xxxxxx’s completion of Eligible Capital Improvements. Rent Eligible improvements are defined as items the Board would routinely recognize as refurbishment of existing wall, ceiling, and/or floor finishes; replacement of existing mechanical, electrical, or plumbing systems and/or fixtures. Any change in use modifications including the installation or removal of walls to increase or decrease room sizes will not received be considered Eligible Capital Improvements unless an exception is approved by the last day Board. The rent credit for a particular Eligible Capital Improvement shall be based on the total cost of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Eligible Capital Improvement, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with amortized over the term of this Lease, shall be deemed to be additional rent hereunder Lease (hereinafter called including the "Additional Rent"), and in renewal periods) that remains after the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment completion of the above specified monthly rentalEligible Capital Improvement.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Thirty-Four Thousand Nine Hundred Fifty-Five and 00/100 Dollars ($34,955.00) per month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment as provided in Section A of this Paragraph. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 34,955.00 shall be paid upon execution of the Lease, which sum represents the amount of the first month's rent. A deposit of $34,955.00 as a Security Deposit shall be made by Lessee and held by Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease, and shall be paid upon execution of the Lease. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1If Lessee is not in default of this Lease, 2002 THROUGH SEPTEMBER 30this sum, 2007.
(b) without interest thereon, shall be applied toward the rent due for the last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. Rent is due shall be paid in advance on the first (1st) day of each monthcalendar month as follows: Months Monthly Rent/nnn ------ ---------------- 01-12 $34,955.00 13-24 $36,953.00 25-36 $36,952.00 37-48 $37,951.00 4 49-60 $38,949.00 Rent for any period during the term hereof which is for less than one (1) full month shall be a pro-rata portion of the monthly rent payment. Rents received after Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the tenth (10th) exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within five (5) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of five percent (5%) of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee's default with respect to void the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on February 1, 1995, this Lease Agreementshall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom. All rents Notwithstanding anything to the contrary in this Lease, if the Commencement Date has not occurred on or before May 1, 1996, then, in addition to Lessee's other rights and remedies, Lessee may terminate this Lease by written notice to Lessor, whereupon any monies previously paid by Lessee to Lessor shall be paid reimbursed to Lessee or, at Lessee's election, the date Lessee is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the Commencement Date is delayed beyond such date. In the event that Lessor without demand and without set-off shall permit Lessee to occupy the Premises prior to the commencement date of the term, such occupancy shall be subject to all of the provisions of this Lease, excluding the obligation to pay rent at the offices same monthly rate as that prescribed for the first month of XXXXXXXXXX XXXXXX CONSTRUCTION COthe Lease term., INC
A. COST-OF-LIVING INCREASE. Not applicable., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided.
B. All taxes, insurance premiums, Outside Area Charges, late charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofhereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs costs, and attorney's fees and expenses which Lessors Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the hereinafter, "Additional Rent"), and and, in the event of nonpayment non-payment by Lessee within the time period set forth aboveLessee, Lessor shall have all of the rights and remedies with respect thereto as Lessor have has for the nonpayment non-payment of the above specified monthly rentalinstallment of rent.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Brooktrout Technology Inc)
Rent. Lessee shall make the following rental payments to Lessor:
(a) The Lessee covenants and agrees to pay to the Lessor throughout the Term as rent hereunder for Rent an annual amount equal to the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.Net Available Cash Flow.
(b) The Rent is due on the first day shall be payable in respect of each month. Rents received after Lease Year within thirty (30) days of receipt by the tenth Lessee and the Trustee of the annual financial statements and audit report for the corresponding Annual Period of the Lessee provided to the Trustee in accordance with the provisions of the Loan Agreement and the satisfaction of any additional conditions precedent to the distribution of the Net Available Cash Flow as provided in Section 513(b) and (10thc) of any month will include the Indenture.
(c) If the Net Available Cash Flow for a $25 late fee. Lease Year shall be zero (0) or a negative amount, no Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to the Lessor without demand hereunder for such Lease Year, and without set-off it is understood that the Lessor shall have no liability or obligation, express or implied, to contribute or to pay the Lessee for any such deficit in Net Available Cash Flow.
(d) For purposes hereof, the Lessor agrees that the Lessee may, in each Lease Year, charge, in each Lease Year, cause to be charged Rent for the units comprising the Project sufficient to comply with all of the covenants and agreements of the Lessee contained in the Bond Documents, provided, however, the maximum rent charged to tenants of the Workforce Housing Units shall comply with the provisions of Section 11(c) of the Ground Lease.
(e) Payment of all Rent and all other sums due to the Lessor under this Ground Lease shall be made payable to the Lessor and delivered to the Lessor at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 address shown in Section 28 hereof or at such other address place as the Lessor may notify the Lessee in writing from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentaltime.
Appears in 1 contract
Samples: Ground Lease Agreement
Rent. a. For and during the term of this Agreement, Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises a total annual rental of $107,820.00, payable in equal monthly installments of $8985.00, (or otherwise indicated on Rebate Rider attached) each payable in advance of the first day of each calendar month after the commencement of the term, or a daily prorated amount for any partial calendar month during the Initial Term term. If any payment of rent or other charges due under this Agreement is not received within five (5) calendar days after its due date, the Lessee will also pay, as additional rent, a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY late payment charge which shall be an amount equal to 10% TO of any amount owed to Lessor or $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 200750 whichever is greater.
(b) Rent b. It is due additionally specifically covenanted and agreed that the financial terms of this Agreement are strictly confidential and Lessee agrees not to knowingly or willfully divulge this information to or any other Lessee or potential Lessee of Lessor. Any such disclosure by the Lessee of the financial terms of this Agreement as set forth herein above, shall constitute a material breach of this Lease.
c. The first such payment of rental as well as the payment of the Deposit as set forth in below shall be paid by Lessee simultaneously with execution of this Agreement. Should the Lessee fail to make such payment prior to the commencement of the term of this Agreement, then, at Lessor's sole option, the Agreement shall be null and void and of no further effect.
d. The rental payable during the term of this Agreement shall be increased on the first day of each month. Rents received after the tenth (10th) month following notification of any month will include a $25 late feerental increase (however designated) which the Lessor might receive from the Lessor's over- landlord ("Building"). Rent not received The term "direct expenses" as used herein shall refer to the same items and costs as are used by the last day Building in its determination of expenses and costs passed on to Lessor. Lessor shall immediately notify Lessee in writing of any such increase, and shall xxxx Lessee for its pro rata share thereof, which xxxx Lessee shall pay promptly upon such notification for each and every month thereafter for the balance of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION COterm., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
Appears in 1 contract
Samples: Lease and Service Agreement (U S Digital Communications Inc)
Rent. Lessee For the initial term of the Lease commencing on the Commencement Date (August 25, 2003), Tenant shall make the following rental payments to Lessor:
pay Landlord, as rent, One Thousand Two Hundred and No/100 Dollars (a$1,200.00) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS per month (60 MONTHS"Rent"). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due Beginning on the first renewal term (August 25, 2008), the Rent shall be $1,380.00 per month until the 1st Amendment Effective Date (defined below),. For the period of the Lease commencing on the 1st Amendment Effective Date and continuing until August 24, 2011, Rent shall be One Thousand Nine Hundred Eighty and No/100 Dollars ($1,980.00) per month. For the period of the Lease commencing on August 25, 2011 and continuing until August 24, 2012, Rent shall be Two Thousand Thirty-Nine and 40/100 Dollars ($2,039.40) per month. For the period of the Lease commencing on August 25, 2012 and continuing until August 24, 2013, Rent shall be Two Thousand One Hundred and 58/100 Dollars ($2,100.58) per month. Rent shall be payable in advance beginning on the Commencement Date prorated for the remainder of the month in which the Commencement Date falls, and thereafter Rent will be payable monthly in advance by the fifth (5th) day of each monthmonth to the City of Tempe at Landlord's address specified in Section 12 below. Rents received after the tenth (10th) of any month will include If this Lease is terminated at a $25 late fee. Rent not received by time other than on the last day of the month will be cause to void this Lease Agreement. All rents a month, Rent shall be paid to Lessor without demand and without set-off at prorated as of the offices date of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such termination for any reason other address as Lessor may from time to time designate to Lessee than a default by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountsTenant, and all damages, costs and expenses which Lessors may incur by reason prepaid Rent shall be refunded to Tenant within thirty (30) days of any default the date of Lessee termination. If Tenant’s right to possession under the Lease has expired or failure on Lessee's part to comply has been otherwise terminated in accordance with the term terms and provisions of this Lease, any holding over by Tenant after Tenant’s right to possession of the Premises has ceased, with the consent of the Landlord, shall be deemed construed to be additional rent hereunder (hereinafter called a tenancy from month-to- month on the "Additional Rent")terms and on the conditions set forth herein, except that the monthly Rent under Section 4 shall be at twice the monthly Rent amount last required to be paid by Tenant under the terms of the Lease, and shall be paid by Tenant monthly in advance. For purposes of this Lease, the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.term
Appears in 1 contract
Samples: Rooftop Lease
Rent. Lessee 2.1 During the lease Tenant shall make the following pay and Owner shall accept a rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: Rental Period Rent ------------- ---- September 1, 2001 - August 30, 2002 $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 7,200 per month September 1, 2002 THROUGH SEPTEMBER - August 30, 20072003 $9,600 per month September 1, 2003 - August 30, 2004 $12,000 per month The rental for each month beginning on September 1, 2004 and the rental for any extended term if the term of the of this lease is extended beyond the original term, shall be Twelve Thousand Dollars ($12,000.00) per month or, if greater, the amount determined by multiplying the rental for each month of the prior year by a fraction, the numerator of which is the Consumers Price Index United States - All Items, for January of the fourth and fifth year or each year of the extended term, and the denominator of which is such index figure on the same base, for January of 2003, provided that such fraction shall never be less than one (1).
(b) Rent 2.2 In addition to these rental payments, Tenant shall pay when due, as additional rent, all other amounts to be paid by Tenant under this lease.
2.3 It is due on the first day intention of Owner and Tenant that the rent paid under this lease shall be net to Owner and that each month. Rents received after year during the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day term of the month will be cause lease all costs, expenses and obligations of every kind relating to void the premises (except as otherwise specifically provided in this Lease Agreement. All rents lease) which may arise or become due during the term of this lease shall be paid by Tenant, and that Owner shall be indemnified by Tenant against such costs, expenses and obligations.
2.4 All payments of rent shall be made by Tenant to Lessor Owner without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.notice or demand, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address place within the United States as Lessor Owner may from time to time designate in writing. For the present Owner designates Owner's address stated in or pursuant to Lessee by notice in the manner hereinafter providedNotices provisions of this lease as the place for making the payments of rent. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, rents shall be deemed to payable in legal tender of the United States as the same is then constituted.
2.5 A late fee will accrue at the rate of twelve percent (12%) per annum on all delinquent rent and other amounts due from Tenant. Such late fee shall be immediately due and payable as additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalunder this lease.
Appears in 1 contract
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Twelve Thousand Nine Hundred and Forty-Nine Dollars ($12,949.00) per month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment or offset, prior notice or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 12,949.00 shall be paid upon execution of the Lease, which sum represents the amount of the second month's rent, A deposit of $15,304.00 as a Security Deposit shall be made by Lessee and held by the Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease, and shall also be paid upon execution of the Lease, If Lessee is not in default of any provisions of this Lease, this sum, without interest thereon, shall be applied toward the rent due for the last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 12,949.00 shall be paid on July 1, 2002 THROUGH SEPTEMBER 2005 and in advance of the first (1st) day of each month until June 30, 2007.
(b) Rent is due 2006. $14,126.00 shall be paid on July 1, 2006 and in advance of the first day of each monthmonth until June 30, 2007. Rents received after $15,304.00 shall be paid on July 1, 2007, and in advance of the tenth first day of the each month until June 30, 2008. Rent for any period during the term hereof which is for less than one (10th1) full month shall be a pro-rata portion of the monthly rent payment. Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to fix, Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrances and note secured by any encumbrance covering the Premises. Rent Therefore, if. any installment of rent or other payment due from Lessee is not received by Lessor within five (5) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of five (5%) percent of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of late payment by Lessee. Acceptance of any default late charge shall not constitute a waiver of Lessee or failure on Lessee's part default with respect to comply with the term overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be revised to conform to the date of Lessor's delivery of possession. Notwithstanding the foregoing sentence, Lessor shall permit Lessee to enter and occupy the Premises (Early Access) prior to the commencement date of this term, subject to all of the provisions of this Lease, except for the obligation to pay rent which Lessee shall not be deemed called upon to be additional rent hereunder (hereinafter called pay until July 1, 2005. Lessee's occupancy of the "Additional Rent")Premises during the early occupancy period shall in no way interfere with or delay Lessor's clean-up, construction and installation of the tenant improvements described in Paragraph of this Lease, and Lessee shall hold Lessor harmless from such delay caused by, or due to the fault of Lessee. Lessee agrees to provide Lessor with insurance required in the event of nonpayment by Lessee within the time period set forth aboveParagraphs 10A, Lessor shall have all the rights 10B and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental10D prior to occupancy.
Appears in 1 contract
Rent. Lessee shall make Tenant agrees to pay total sum of $27,083.40 in U.S. dollars. This is a modified gross lease and Landlord is responsible for the following rental payments to Lessor:exterior of the building, taxes, land maintenance, exterior utilities and fire insurance on the structure only. All other utilities, additional tenant finish, garbage and other services are the responsibility of the Tenant.
(a) Lessee covenants The rent shall be paid in equal monthly installments of $1100.95, IN ADVANCE, on or before the 1st day of each monthly period of this lease to the Landlord at the address of 000 Xxxxxxxx Xxxxx, Xxxxxxxx Xxxxxxx, Xxxxxxxx 00000. One monthly installment of the rent shall be due and agrees to pay Lessor as rent hereunder payable on or before the first day of the execution of the lease by the Tenant for the Demised Premises during first month's rent. Rents for the Initial Term a last 12 months period will be paid in equal monthly rent as follows: installments of $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 20071156.00.
(b) Rent This lease is due on the first day expressly contingent upon Tenant providing to Landlord a certificate of each month. Rents received after the tenth fire and liability insurance.
(10thc) of any month will include a $25 late fee. Rent not received All rents, as provided in this lease, are secured by the last day furniture, fixtures and equipment of the month will be cause to void this Lease AgreementTenant.
(d) All expenses incurred by the Tenant, are the sole responsibility of the Tenant. All rents shall be paid to Lessor without demand and without set-off at If, however, the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 Tenant creates a situation whereby the Landlord incurs expenses brought on by the Tenant's neglect or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in Tenant causes the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed property to be additional rent hereunder (hereinafter called encumbered in any way, the "Additional Rent"), Landlord shall have the right to call these expenses as rents and in the event of nonpayment by Lessee within the time period set forth abovenonpayment, Lessor landlord shall have all the rights and remedies with respect thereto as Lessor have herein provided for failure to pay rent.
(e) The Tenant is responsible for ALL Tenant finish, and cannot encumber or cause to encumber the nonpayment premises or any adjoining premises or any other premises not owned by the Tenant.
(f) There is a ten (10) days "grace" period after the first of the above specified monthly rentalmonth to pay rents.
Appears in 1 contract
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during monthly rental which is set forth in Article 1(d) in United States currency in advance of the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first eleventh day of each month. Rents received after the tenth (10th) of any calendar month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off during said term, at the offices office of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 Lessor of building or at such other address as place Lessor may from time to time designate to Lessee by notice in writing. Rent for a partial month shall be prorated based upon the actual number of days in the manner hereinafter providedsubject month. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 Any rent or other sections hereofpayment due from Lessee which is not paid within ten (10) days of the eleventh day of each calendar month shall bear interest from the due date until paid at the lesser of (a) twelve (12%) percent per annum and (b) the highest rate permitted by law. Lessee hereby acknowledges that late payment by Lessee to Lessor of rent and other sums due hereunder will cause Lessor to incur costs not contemplated by this Lease, together with all the exact amount of which may be extremely difficult to ascertain. Accordingly, if any installment of rent or any other sum due from Lessee shall not be received by Lessor or Lessor's designee within ten (10) days after such amount shall be due, Lessee shall pay to Lessor, in addition to the interest due on such late payment as otherwise provided in this Lease, a late charge equal to five (5) percent or such overdue amount. The parties hereby agree that such late charge represents a fair and penalties that may accrue thereon in reasonable estimate of the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may Lessor will incur by reason of any default late payment by Lessee. Acceptance of Lessee or failure on such late charge by Lessor shall in no event constitute a waiver of Lessee's part default with respect to comply with such overdue amount, nor prevent Lessor from exercising any of the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the other rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalgranted hereunder.
Appears in 1 contract
Samples: Lease Agreement (Fine Com Corp)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and Tenant agrees to pay Lessor to Landlord rent for the Premises, without deduction, set off, or abatement, for the term, at the rate of Seven thousand fifty-six dollars and 91/100 **** Dollars ($7,056.91) per month. One such monthly installment shall be due and payable on the commencement date recited above, and a like monthly installment shall be due and payable in advance without demand on or before the same day of each succeeding month during the hereby demised term. However, if such commencement date should be a date other than the first day of a calendar month, there shall be due and payable on said commencement date as rent hereunder for the Demised Premises balance of the calendar month during which said commence date shall fall, a sum equal to that portion of the Initial Term rent for a monthly full month as herein provided which the number of days from said commencement date to the end of the calender month during which said commencement date shall fall bears to the total number of days in such month, and all succeeding installments of rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due shall be payable in advance on or before the first day of each monthsucceeding calendar month during the term. Rents received after In addition, Tenant agrees to deposit with Landlord on the tenth date hereof the sum of Seven thousand two hundred fifty and 25/100 Dollars (10th) $7,250.25), which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any month will include a $25 late fee. Rent not received event of default by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.Tenant, INC.Landlord may, 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate time, without prejudice to Lessee any other remedy provided herein as provided by notice in law, use such fund to the manner hereinafter provided. All taxesextent necessary to make good any arrears of rent and any other damage, chargesinjury, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 expense, or other sections hereof, together with all interest and penalties that may accrue thereon in the liability caused by such event of Lessee's failure default; and Tenant shall pay to pay Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If there be no event of default by Tenant in existence, any remaining balance of such amounts, and all damages, costs and expenses which Lessors may incur deposit shall be returned by reason of any default of Lessee or failure on Lessee's part Landlord to comply with the term Tenant upon expiration of this Leaselease. Notwithstanding anything contained in this lease to the contrary, shall be deemed all amounts payable by Tenant to be additional rent hereunder (hereinafter called the "Additional Rent")or on behalf of Landlord under this lease, and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.whether or not expressly denominated
Appears in 1 contract
Rent. Lessee shall make pay to Lessor the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as sum total rent hereunder of $X.XX for the Demised Premises lease term. This sum total rent amount shall be divided into twelve equal installment payments of $X.XX during the Initial Term a monthly lease term, payable to Cochrane Premier Properties, at 0000 X Xxxx Xx. Suite B, Champaign, IL 61820 or the rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1box at 000 X Xxxxx Xx, 2002 THROUGH SEPTEMBER 30Xxxxxxxxx, 2007XX, or wherever designated in writing by Lessor.
(b) Rent is a. Said rent shall be due and payable in advance on the first day of each monthand every month of said term. Rents received after The Lessee’s first rent installment is due on June 1, 20XX, and the tenth last installment will be due on May 1, 20XX. Lessor will not issue keys until the first rent installment is received. All rent payments must be made in one (10th1) cash or check payment, and may not be divided among various Lessees.
b. Lessee will pay a late fee of any month will include a $25 late fee. Rent 50.00 if rent is not received by the last 5th day of the month, and an additional $2.00 per day for each day rent is unpaid after the 5th day of the month . In the event the Lessee does not pay rent that is due and owing by the 5th day of the month, Lessor may elect to serve a Landlord’s Five-Day Notice upon Lessee. In the event Lessee’s right to possession is terminated for non-payment of rent, Lessee’s obligation for rent, which accrues after Lessee’s possession has been terminated, will continue to accrue until the property is re-leased or upon the expiration of the lease term, whichever comes first.
c. Any check for rent returned by the bank due to insufficient funds or any other reason will be cause charged a $50.00 fee. The Lessor reserves the right to void demand that all subsequent rent payments be made in cash or with a cashiers check. It is hereby agreed between the parties that the amount paid by Lessee to Lessor pursuant to this Lease Agreement. All rents agreement shall be paid applied first to any past due and unpaid charges and thereafter to current charges.
d. Lessee has the right to sublet or assign said leased premises to applicants approved by the Lessor. If Lessee does sublet leased premises, Lessee understands that, in absence of a written agreement between Lessor and Lessee to the contrary, Lessee expressly remains liable for all obligations and duties owed Lessor under terms of this lease. Lessor will impose a $50.00 charge for each sublease made by Lessee or his Sublessees. The charge represents the Lessor’s actual costs for Lessor’s time and documentation, verification, record changing, and/or apartment inspection. Lessee’s subletting or assigning without demand the approval of Lessor shall constitute a breach of this lease, and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, pursue any and all damages, costs and expenses which Lessors may incur by reason of any default of remedies against Lessee or failure on Lessee's part to comply with the term of as provided for under this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentallease.
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee Commencing on the Commencement Date and continuing throughout the Term, Tenant shall make pay Landlord minimum rent in accordance to the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as schedule: All minimum rent hereunder for the Demised Premises during the Initial Term a shall be paid in advance in equal monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due installments on the first 1st day of each monthcalendar month during the Term. Rents received after If the tenth (10th) of any month will include Term begins on a $25 late fee. Rent not received by day other than the last 1st day of the calendar month, the rent for the period from the beginning date to the 1st day of the first full calendar month will of the Term shall be cause prorated at the aforesaid monthly rate and shall be payable on the date the Term begins. The rent abatement for the first month of the Term relates to void this Lease Agreementthe first thirty (30) days of the Term beginning on the Commencement Date. All rents Rent shall be paid to Lessor without demand and without set-off Landlord at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.FRP Hillside LLC #3, INC.c/o FRP Development Corp, 00000 XXXXXXX XX.00 Xxxxxxx Xxxxxx, KNOXVILLEXxxxx 000, TN 37932 Xxxxxx, Xxxxxxxx 00000, or at to such other address as Lessor Landlord may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxesnotify Tenant, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amountswithout prior demand, and all damageswithout abatement, costs and expenses which Lessors may incur by reason of any default of Lessee deduction, or failure on Lessee's part to comply with set-off except as set forth in this Lease. Whenever, under the term terms of this Lease, shall any sum of money is required to be paid by Tenant in addition to the rent herein reserved, whether such sum is designated as "additional rent", it shall, nevertheless, be deemed to be additional rent and shall be collectible as rent. If any installment of rent or other sum payable hereunder is not received by Landlord within five (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment 5) business days of the above specified monthly rentaldue date and within five (5) business days after written notice to Tenant of the delinquency, the rent or other sum shall be accompanied by a late charge of 10% of the total amount due.
Appears in 1 contract
Rent. Lessee Sub-Sublessee shall make pay Sub-Sublessor rent on a monthly basis equal to the sum of the "Premium Fees" and the "Mutual Fund Fees" (each as hereinafter defined).
A. Subject to the following rental payments paragraph, the "Premium Fees" for each month shall be a percentage, as set forth below, of an amount equal to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises aggregate value of all Purchasers' premiums paid during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each said month. Rents received after The applicable percentage shall depend upon the tenth "Aggregate Net Premiums" as of the end of the immediately preceding month. For purposes of this Sub-Sublease Agreement, the term "Aggregate Net Premiums" shall mean the total of all insurance and annuity premiums paid by Purchasers from the inception of the Agreement to the end of the most recent month, less all amounts (10thother than accumulated investment yield) of any month will include a $25 late feewithdrawn by Purchasers to that date. Rent not received by The Premium Fee shall be payable to Sub-Sublessor within 10 days following the last day end of the month in which said payments in respect of premiums paid by Purchasers are received by Sub-Sublessee. In the event that any Purchaser surrenders a Nondeposit Product during the chargeback period, the Nondeposit Product provider will be cause to void this Lease Agreement. All rents shall be chargeback some or all of the front-end sales commission paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder Nondeposit Product was sold (hereinafter called the a "Additional RentChargeback"), and Sub-Sublessor agrees that it will be responsible for its pro rata share of any Chargeback to the extent it received Premium Fees with respect to the original premiums sold. The Premium Fees due hereunder shall be reduced as provided herein for any such surrender. All reductions due to Chargebacks shall be made in the event of nonpayment same proportion and under the same circumstances as such Chargebacks are applied to Sub-Sublessee's account by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalapplicable Nondeposit Product provider.
Appears in 1 contract
Samples: Nondeposit Investment Sales Agreement (JMC Group Inc)
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Ten Thousand Six ----- ---------------- Hundred Seventy-Five Dollars ($10,675.00) per month in lawful money of the Initial Term a monthly rent -------------------- -------------------- United States of America, subject to adjustment as provided below. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 10,675.00 shall be paid upon execution of the Lease by both Lessor and ---------- ------------------ Lessee, which sum represents the amount of the first month's rent. A ------- deposit of $10,675.00 as a Security Deposit shall be made by Lessee and ---------- held by Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease, and shall be paid upon execution of the Lease by both Lessor and Lessee. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1If Lessee is not in ------------------------- default of any provision of this Lease, 2002 THROUGH SEPTEMBER 30this sum, 2007.
(b) Rent is without interest thereon, shall be applied toward the rent due for the last month of the term of this Lease or the extended term, pursuant to any extension of the initial term in accordance with the provisions of this Lease. Monthly rent shall be paid in advance on the first (1st) day of each monthcalendar month as follows: Months Monthly Rent/NNN ------ ---------------- 01-12 $10,675.00 13-24 $11,101.00 25-36 $11,546.00 37-48 $12,007.00 49-60 $12,488.00 Rent for any period during the term hereof which is for less than one (1) full month shall be a pro-rata portion of the monthly rent payment. Rents received after Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the tenth (10th) exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within ten (10) days following the last day -------- date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the month overdue amount as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of late payment by Lessee. Acceptance of any default late charge shall not constitute a waiver of Lessee or failure on Lessee's part default with respect to comply with the term overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be revised to conform to the date of Lessor's delivery of possession. In the event that Lessor shall permit Lessee to occupy the Premises prior to the commencement date of the term, such occupancy shall be subject to all of the provisions of this Lease, shall be deemed including the obligation to be additional pay rent hereunder (hereinafter called at the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto same monthly rate as Lessor have that prescribed for the nonpayment first month of the above specified monthly rentalLease term.
Appears in 1 contract
Samples: Lease (Oratec Interventions Inc)
Rent. Lessee shall make pay the following rental rent payments as shown on the EQUIPMENT SCHEDULE and as may be adjusted by the rider to Lessor:
(a) Lessee covenants and agrees to pay Lessor as the Equipment Schedule the first of which rent hereunder for the Demised Premises during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is payments shall be due on the COMMENCEMENT DATE specified therein, unless the Lessee qualifies for deferred payments as herein described. The Lessee shall qualify to defer the first eighteen (18) months of rent payments until the first day of each the nineteenth month. Rents received , on which date the nineteenth (19th) rent payment will also be due, unless (a) after September 1, 1996 Lessee sells shares of its stock (or options or other rights to acquire such shares) with gross proceeds of at least Thirteen Million Dollars ($13,000,000) prior to the tenth end of the deferment period, or (10thb) there is an occurrence of any EVENT OF DEFAULT under Paragraph 17. In the event that Lessee fails to qualify for deferred payments prior to the date that the nineteenth (19th) rent payment is due, all deferred payments will be due within ten (10) days of such failure to qualify, except in the case of an Event of Default, in which case all deferred payments will be immediately due. Subsequent payments shall be due on the same day of each month will include a $25 late fee(or other calendar period indicated on the EQUIPMENT SCHEDULE) thereafter. Rent payments shall be due whether or not Lessee has received by the last day of the month will be cause to void this Lease Agreementany notice that such payments are due. All rents rent payments shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other its address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, on the EQUIPMENT SCHEDULE or as otherwise directed by Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rentalin writing.
Appears in 1 contract
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during Thirty-Seven Thousand Four Hundred Forty and 00/100 Dollars ($37,440.00) per month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment as provided below. Rent shall be paid without deduction or offset, prior notice, or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 37,440.00 shall be paid upon execution of the Lease, which sum represents the amount of the first month's rent. A deposit of $112,320.00 as a Security Deposit shall be made by Lessee and held by Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease, and shall be paid upon execution of the Lease. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due Monthly rent shall be paid in advance on the first (1st) day of each monthcalendar month as follows: Period Monthly Rent/NNN ------ ---------------- 1/15/00 - 1/14/01 $37,440.00 1/15/01 - 1/14/02 $38,563.00 1/15/02 - 1/14/03 $39,720.00 1/15/03 - 1/14/04 $40,912.00 1/15/04 - 1/15/05 $42,139.00 Rent for any period during the term hereof which is for less than one (1) full month shall be a pro-rata portion of the monthly rent payment. Rents received after Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the tenth (10th) exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrance and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within five (5) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of ten percent (10%) of the month will be cause overdue amount as a late charge. Notwithstanding anything contained in this paragraph, if Lessee is delinquent in the payment of Rent and is subject to void a late charge, Lessor agrees to waive the late charge if the Rent or Additional Rent due is paid within five (5) days of Lessor's written notice to Lessee of the delinquent amount owed and provided Lessee has not been delinquent in its payment of Rent or Additional Rent owed under this Lease Agreementduring the twelve (12) month period preceding the rent delinquency in question. All rents However, Lessor shall only be obligated to notify Lessee once of its intent to assess a late charge in any twelve (12) month period. The parties agree that this late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of late payment by Lessee. Acceptance of any late charge shall not constitute a waiver of Lessee's default with respect to the overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If, for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be paid revised to conform to the date of Lessor's delivery of possession. In the event that Lessor without demand and without set-off shall permit Lessee to occupy the Premises prior to the commencement date of the term, such occupancy shall be subject to all of the provisions of this Lease, with the exception of the obligation to pay rent at the offices same monthly rate as that prescribed for the first month of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice the Lease term. See also the provision in Section 7 below for a rent abatement in the manner hereinafter provided. event of delay in completion of certain improvements.
A. All taxes, insurance premiums, Outside Area Charges, late charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereofhereunder, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all reasonable damages, costs costs, and attorney's fees and expenses which Lessors Lessor may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term terms of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the hereinafter, "Additional Rent"), and and, in the event of nonpayment non-payment by Lessee within the time period set forth aboveLessee, Lessor shall have all of the rights and remedies with respect thereto as Lessor have has for the nonpayment non-payment of the above specified monthly rentalinstallment of rent.
Appears in 1 contract
Samples: Lease (Segue Software Inc)
Rent. Lessee Sublessee shall make pay to Sublessor the following rental payments to Lessor:
minimum rent (a"Minimum Rent") Lessee covenants as scheduled below and agrees to pay Lessor as rent hereunder all Additional Rent due under Article 4.03 (of the Master Lease), for the Demised Premises during the Initial Term a monthly rent term of this Sublease without deduction, setoff, notice or demand at 13 Rxxxxx Xxxx, Princeton, N.J. 08540 ATTN: Eric Xxxxxx xx at such other place as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1Sublessor shall designate from time to time by notice to Sublessee, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due in advance on the first day of each month of the Term. Sublessor shall provide Sublessee with the invoice that Sublessor receives from Landlord for the Minimum Rent and Additional Rent within three (3) business days of receipt. Sublessor shall timely pay to the Landlord the Rent and Additional Rent due under the Master Lease. Sublessor shall provide to Sublessee a copy of its check to landlord for payment of Rent and Additional Rent due under the Master Lease no later than the 10th day of each month. Rents received after Sublessee shall pay to Sublessor upon execution of this Sublease the tenth sum of Six Thousand, ninety dollars, and fifty six cents (10th$6,090.56) of any month will include as rent for July, 1997, as outlined in Exhibit D. If the Term begins or ends on a $25 late fee. Rent not received by day other than the first or last day of a month, the rent for the partial month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter providedprorated on a per diem basis. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.Minimum Monthly Rent Schedule ----------------------------- Lease Month Minimum Rent Due ----------- ---------------- July 1997 $5,282.00 plus tenant electric August 1997 thru June 1998 $9,730.00 plus tenant electric July 1998 $5,282.00 plus tenant electric August 1998 thru June 1999 $9,730.00 plus tenant electric July 1999 $5,282.00 plus tenant electric August 1999 thru November 1999 $9,730.00 plus tenant electric
Appears in 1 contract
Rent. Lessee Section 35 of the Original Lease is hereby deleted in its entirety. Notwithstanding anything to the contrary contained in the Lease, from and after the Effective Date the base rent (the “Base Rent”) for the Premises shall make remain a “gross” amount including all taxes, insurance and operating expenses incurred or paid by Lessor, and shall include utilities for and maintenance of the following rental payments Premises, except as expressly set forth in Section 25 of this Sixth Amendment with respect to Lessor:
the Meters (as defined therein). The total monthly Base Rent (a) shall be Three Hundred Nineteen Thousand Eight Hundred Ninety-Three and 36/100ths Dollars ($319,893.36) for the period commencing on the Effective Date and continuing until December 31, 2019, in lawful money of the United States of America, which Lessee covenants and agrees to pay Lessor to Lessor, without deduction or offset except as rent hereunder for expressly set forth in the Demised Premises during the Initial Term a monthly rent Lease, as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1amended hereby, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on the first day of each month. Rents received after the tenth (10th) of any month will include a $25 late fee. Rent not received by the last day of the month will be cause to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address place or places as Lessor may be designated from time to time designate by Lessor, and (b) shall be increased by three percent (3%) effective upon January 1, 2020 and each January 1st thereafter during the Term. Notwithstanding anything to Lessee by notice the contrary contained in the manner hereinafter providedLease, from and after the Effective Date, Base Rent and all other amounts owed by Lessee to Lessor under the Lease, as amended hereby, shall collectively be referred to as “Rent”. All taxesFor the avoidance of doubt, charges, costs and expenses which Lessee is required to pay the monthly Base Rent payable pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with Lease for the term of this Lease, Premises shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.follows:
Appears in 1 contract
Samples: Lease (Blue Apron Holdings, Inc.)
Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder A. As consideration for the Demised Premises during rights conferred upon LESSEE by LESSOR pursuant to this LEASE, LESSEE shall pay, in advance, to LESSOR a quarterly rental in the Initial Term amount of * * (“Rent” representing twenty-five percent (25%) of Fifty and No/100 Dollars ($50.00) per acre multiplied by * * acres [*NOTE – ACTUAL ACREAGE OF PREMISES FROM THE FINAL APPROVED SURVEYS SHALL BE INSERTED AT CLOSING*], which shall be payable (i) on the Commencement Date on a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS pro-rated based on the number of days for the period beginning on the Commencement Date through and including the last day of the calendar quarter in which the Commencement Date falls and (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1, 2002 THROUGH SEPTEMBER 30, 2007.
(bii) Rent is due on the first day of each month. Rents received after calendar quarter (i.e. January 1st, April 1st, July 1st, and October 1st) thereafter, through and including the tenth first day of thereafter through and including the final calendar quarter of the sixth year of the Lease Term (10th) of any month will include a $25 late fee. with the understanding that Rent shall not received by be payable during the last day twelve (12) months of the month will be cause Lease Term, i.e., July 1, 2015 to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO.June 30, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof2016), together with all interest applicable sales and penalties that may accrue thereon use taxes. In addition, LESSEE shall be responsible for payment of any and all Additional Rent (as defined in Paragraph 5.C. below) throughout the event Lease Term as and when due under the terms of Lessee's failure this LEASE.
B. All payments of Rent, as well as all other amounts due under this LEASE from LESSEE to LESSOR shall be made to LESSOR at the following address: South Florida Water Management District Attention: Post Office Box 24680 0000 Xxx Xxxx Xxxx Xxxx Xxxx Xxxxx, Xxxxxxx 00000 RE: Contract #
C. This LEASE shall be totally and absolutely net to LESSOR. In addition to the Rent and Additional Rent stated above, LESSEE shall pay such amountsall charges for gas, water, sewer, waste removal, dumpster charges, janitorial services, electricity, telephone, and all damages, costs and expenses which Lessors may incur other utility services used by reason of any default of Lessee or failure on Lessee's part to comply LESSEE in connection with the term Premises during the Lease Term and any and all other costs, expenses, taxes or obligations of every kind related to the Premises and the use, operation, occupancy thereof during the Lease Term, including obligations arising under recorded or unrecorded documents encumbering or relating to the Premises, if any (to the extent such recorded or unrecorded documents exist on the day immediately preceding the Commencement Date). Without limiting the foregoing, if any charges, costs, expenses, taxes or other monetary obligations of LESSEE under this LeaseLEASE are not paid by LESSEE as and when due, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent")after expiration of all applicable grace and notice periods, and in the event LESSOR, without limiting any of nonpayment by Lessee within the time period set forth above, Lessor shall have all the its other rights and remedies with respect thereto as Lessor under this LEASE, shall have for the nonpayment right, but not the obligation, to pay any of the above specified monthly rentalforegoing, and the amount of the expense or cost of any such obligations so paid by LESSOR shall thereupon become due to LESSOR from LESSEE within five (5) days following LESSOR’s written demand, together with interest accruing on such amount at the highest rate allowed by law if not paid to LESSOR within such five (5) day period, as “Additional Rent”.
D. If any Rent due from LESSEE to LESSOR hereunder is not received by LESSOR on or before the date due, then, in addition to all other rights and remedies available to LESSOR under this LEASE, LESSOR at LESSOR's sole option may either: (i) charge LESSEE a late fee equal to five percent (5%) of the installment of Rent not paid when due; or
Appears in 1 contract
Samples: Lease Agreement
Rent. Lessee shall make the following rental payments pay to Lessor:
(a) Lessee covenants and agrees to pay Lessor as rent hereunder for the Demised Premises during of Two Thousand Nine Hundred four and no/100ths Dollars ($2,904.00) per month in lawful money of the Initial Term a monthly rent United States of America, subject to adjustment or offset, prior notice or demand, at such place as may be designated from time to time by Lessor as follows: $6,000/MONTH FOR THE FIRST 2,904.00 shall be paid upon execution of the Lease, which sum represents the amount of the first month's rent. A deposit of $3,300.00 as a Security Deposit shall be made by Lessee and held by the Lessor pursuant to Paragraph 5 YEARS (60 MONTHS)of this Lease, and shall also be paid upon execution of the Lease. INCREASE BY 10% TO If Lessee is not in default of any provisions of this Lease, this sum, without interest thereon, shall be returned to Lessee after Lessee vacates the Premises and satisfies all conditions in Paragraph 4 of the Lease. $6,600/MONTH STARTING WITH OCTOBER 2,904.00 shall be paid on July 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due on 2012 and in advance of the first (1st) day of each monthmonth until May 31, 2013. Rents received after $3,190.00 shall be paid on June 1, 2013 and in advance of the tenth first (10th1st) day of each month until May31, 2014. $3,300.00 shall be paid on June 1, 2014 and in advance of the first (1st) day of each month until May 31, 2015. Rent for any period during the term hereof which is for less than one (1) full month shall be a pro-rata portion of the monthly rent payment. Lessee acknowledges that late payment by Lessee to Lessor of rent or any other payment due Lessor will cause Lessor to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impracticable to fix. Such costs include, without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any month will include a $25 late feeencumbrances and note secured by any encumbrance covering the Premises. Rent Therefore, if any installment of rent or other payment due from Lessee is not received by Lessor within five (5) days following the last day date it is due and payable, Lessee shall pay to Lessor an additional sum of five (5%) percent of the month will be cause overdue amount as a late charge, except for the first failure to void this Lease Agreement. All rents shall be paid to Lessor without demand and without set-off at the offices make a payment of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 rent or other sections hereofamount when due in each lease year of the Lease. Further, together with all interest and penalties that may accrue thereon in the event of Lessee's only this event, said late charge will not be imposed until such failure to pay has not occurred within three (3) business days after Lessor has delivered written notice to Lessee that such amounts, payment is due. The parties agree that this late charge represents a fair and all damages, reasonable estimate of the costs and expenses which Lessors may that Lessor will incur by reason of late payment by Lessee. Acceptance of any default late charge shall not constitute a waiver of Lessee or failure on Lessee's part default with respect to comply with the term overdue amount, nor prevent Lessor from exercising any of the other rights and remedies available to Lessor. If for any reason whatsoever, Lessor cannot deliver possession of the Premises on the commencement date set forth in Paragraph 2 above, this Lease shall not be void or voidable, nor shall Lessor be liable to Lessee for any loss or damage resulting therefrom; but in such event, Lessee shall not be obligated to pay rent until possession of the Premises is tendered to Lessee and the commencement and termination dates of this Lease shall be revised to conform to the date of Lessor's delivery of possession. In the event that Lessor shall permit Lessee to occupy the Premises prior to the commencement date of this term, such occupancy shall be subject to all of the provisions of this Lease, shall be deemed including the obligation to be additional pay rent hereunder (hereinafter called at the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto same monthly rate as Lessor have that prescribed for the nonpayment first month of the above specified monthly rentalLease term.
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Rent. Lessee shall make the following rental payments to Lessor:
(a) Lessee Tenant hereby covenants and agrees to pay Lessor without deduction, offset, prior notice or demand, together with any and all sales and use taxes levied upon the use and occupancy of the leased premises as rent hereunder for the Demised Premises set forth in Paragraph 8, during the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS). INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER term hereof, to the Landlord, in advance beginning on February 1, 2002 THROUGH SEPTEMBER 30, 2007.
(b) Rent is due 2006 and on the first day of each month. Rents received after and every month thereafter, a monthly Base rent of $1,461,38 1407.25, [initialed], plus sales tax (presently 7%) in the tenth (10th) amount of any month will include $102.30 98.51, [initialed] for a total monthly rent of $25 late fee1,563.68 $ 1505.76, [initialed]. Rent not received by shall be paid to: EAST POINT BUSINESS CENTER c/o Commercial Management Associates Inc. 0000 Xxxxx Xxxxxx Xxxxxxx Xxxxx Xxxxx 000 Xxxxxxx, XX 00000 Total monthly rent will be adjusted each year of this Lease in the last manner set forth in Paragraph 4. If Tenant's possession commences on other than the first day of the month, Tenant shall occupy the leased premises under the terms, conditions and provisions of this Lease and the rental for one full calendar month plus the pro rata portion of the monthly rent for said month shall be paid upon the execution of this lease and the term of the Lease shall commence on the first day of the month will be cause to void this Lease Agreementfollowing that in which possession is given. All rents shall be paid to Lessor without demand Tenant also covenants and without set-off at the offices of XXXXXXXXXX XXXXXX CONSTRUCTION CO., INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice in the manner hereinafter provided. All taxes, charges, costs and expenses which Lessee is required agrees to pay a Late Payment Penalty of five percent (5%) of the amount due for any payment of monthly rent not received by Landlord on or before the 5th day of each month. For any other payment due Landlord pursuant to SECTION 3.01 or other sections the terms and provisions hereof, together with all interest monies received after ten (10) days from the date of demand, may be assessed an additional five (5%) percent charge as a late payment penalty. Acceptance by Landlord of a rental payment in an amount less than that which is currently due, including any late charges due thereon, shall in no way affect Landlord’s rights under this lease and penalties that may accrue thereon in no way be an accord and satisfaction. Time is of the event of Lessee's failure to pay such amounts, and all damages, costs and expenses which Lessors may incur by reason of any default of Lessee or failure on Lessee's part to comply with the term of essence in this Lease, shall be deemed to be additional rent hereunder (hereinafter called the "Additional Rent"), and in the event of nonpayment by Lessee within the time period set forth above, Lessor shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment of the above specified monthly rental.
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Samples: Lease Agreement (View Systems Inc)
Rent. Lessee shall make 3.1. Commencing on April 1, 1998 (the following rental payments to Lessor:
(a"Rent Commencement Date") Lessee Tenant covenants and agrees to pay Lessor to Landlord annual Basic Rent (at the rate of $22.00 per square foot) in the amount of Five Hundred Thirty Three Thousand Seven Hundred Twenty and 00/100 Dollars ($533,720.00), payable in equal monthly installments of Forty Four Thousand Four Hundred Seventy Six and 67/100 Dollars ($44,476.67), (the "Monthly Rent") in advance on the first day of the month during the term of the Lease, less any credits granted by Landlord pursuant to Section 3.8 below.
3.2. The Monthly Rent and all additional rent as provided for under this Lease shall be paid promptly when due, in cash or by check, in lawful money of the United States, without notice or prior demand and without deduction, diminution, abatement, counterclaim or setoff of any amount or for any reason whatsoever, payable to LANDLORD, C/O THE XXXXXXXXX COMPANIES, AGENT 0000 X XXXXXX, X.X., XXXXX 000, XXXXXXXXXX, X.X. 00000 or to such other person and place as may be designated by notice in writing from Landlord to Tenant from time to time. If Tenant shall present to Landlord more than twice during the term of this Lease checks or drafts not honored by the institution upon which they are issued, then Landlord reserves its rights to require that future payments of rent and additional rent and other sums thereafter payable be made by certified or cashier's check.
3.3. Other remedies for non-payment notwithstanding, any installment of rent which is not paid within seven (7) days after the due date shall be subject, at Landlord's option each month, to a late charge equal to five percent (5%) of the amount due, which shall be payable as additional rent. Any installment of Basic Rent or additional rent not paid within thirty (30) days from the date due shall accrue interest at the rate of twelve percent (12%) per annum (but in no event at a rate higher than the maximum rate allowed by law) until paid in full, which interest shall be deemed additional rent hereunder.
3.4. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installments of rent herein stipulated shall be deemed to be other than on account of the stipulated rent nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent hereunder be deemed an accord and satisfaction, and Landlord may accept such check for payment without prejudice to Landlord's right to recover the balance of such rent or pursue any other remedy provided in this Lease.
(a) Simultaneously with the execution of this Lease by Tenant, Tenant shall deposit with Landlord the sum of Four Hundred Thousand and 00/100 Dollars ($400,000.00), as an additional security deposit in the form of a Letter of Credit (or a cash deposit to be replaced thereafter by a Letter of Credit) substantially in the form attached hereto Exhibit E, (the "Letter of Credit"), which shall not bear interest to Tenant. The Letter of Credit shall be security for the Demised Premises during payment and performance by Tenant of all Tenant's obligations, covenants, conditions and agreements under this Lease up through and including December 31, 1999. In the Initial Term a monthly rent as follows: $6,000/MONTH FOR THE FIRST 5 YEARS (60 MONTHS)event of any default by Tenant under the Lease beyond any applicable cure and grace period, or failure by Tenant to provide landlord with any evidence of extensions of said credit until December 31, 1999 within 30 days of the expiration of the initial term of said Letter of Credit, Landlord may immediately draw down on the Letter of Credit without requirement of notice to Tenant. INCREASE BY 10% TO $6,600/MONTH STARTING WITH OCTOBER 1Landlord shall have the right, 2002 THROUGH SEPTEMBER 30but shall not be obligated, 2007to apply all or any portion of the Letter of Credit to cure any default by Tenant under the Lease, in which event Tenant shall be obligated to promptly deposit with Landlord the amounts necessary to restore the Letter of Credit to its original amount. In the event Tenant fails to perform its obligations hereunder and Landlord exercises its rights, the Letter of Credit shall not be deemed liquidated damages and Landlord may apply the Letter of Credit to reduce Landlord's damages. Any such application of the Letter of Credit shall not preclude Landlord from recovering from Tenant all additional damages incurred by Landlord. In the event of the sale of the Building or the sale or other transfer of Landlord's interest in the Building, Landlord shall have the right to transfer the Letter of Credit to the purchaser or transferee, in which event Tenant shall look only to the new Landlord for the return of the Letter of Credit and Landlord shall thereupon be released from all liability to Tenant for the return of the Letter of Credit.
(b) Rent is due on On or before January 1, 2000, Tenant shall deposit with Landlord the first day amount of each monthForty Four Thousand Seven Hundred Seventy Six and 67/100 Dollars ($44,776.67) which shall be held by Landlord (the "Security Deposit") as security for the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the Lease Term. Rents received after If Tenant defaults with respect to any provisions of this Lease, including but not limited to the tenth provisions relating to rent, in addition to Landlord's other remedies hereunder, Landlord may (10thbut shall not be required to) use, apply or retain all or any part of the Security Deposit for the payment of any month will include rent or other sum in default, or to compensate Landlord for any loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of said deposit is so used or applied, Tenant, within five (5) days after demand therefor, shall deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount, and Tenant's failure to do so shall be a $25 late feematerial breach of this Lease. Rent Said deposit shall not received bear interest to Tenant, unless so required by the last day an applicable provision of the month will be cause to void this Lease Agreement. All rents law, and shall be paid to Lessor without demand and without set-off Tenant at the offices end of XXXXXXXXXX XXXXXX CONSTRUCTION CO.the Lease Term, INC., 00000 XXXXXXX XX., KNOXVILLE, TN 37932 or at such other address as Lessor may from time to time designate to Lessee by notice if Tenant is not in the manner hereinafter provideddefault. All taxes, charges, costs and expenses which Lessee is required to pay pursuant to SECTION 3.01 or other sections hereof, together with all interest and penalties that may accrue thereon in In the event Tenant fails to perform its obligations and take possession of Lesseethe Premises on the Commencement Date provided for herein, the Security Deposit shall not be deemed liquidated damages and Landlord may apply the Security Deposit to reduce Landlord's failure damages. Any such application of the Security Deposit shall not preclude Landlord from recovering from Tenant all additional damages incurred by Landlord. Notwithstanding anything to pay the contrary contained in this Lease, prior to any such amountsapplication, Landlord shall provide Tenant with ten (10) days written notice of default and intent to apply the Security Deposit. Within thirty (30) days after the expiration of the term hereof (as same may be renewed or extended), and all damages, costs and expenses which Lessors may incur by reason of any provided that Tenant is not in default of Lessee or failure on Lessee's part to comply with under the term terms of this Lease, Landlord shall return the Security Deposit to Tenant, less such portion thereof as Landlord shall have retained to cure any default by Tenant with respect to any of tenant's obligations, covenants, conditions or agreements under the Lease. In the event of the sale of the Building or the sale or other transfer of Landlord's interest in the Building, Landlord shall have the right to transfer the Security Deposit to the purchaser or transferee, in which event Tenant shall look only to the new landlord for the return of the Security Deposit and Landlord shall thereupon be deemed released from all liability to be additional rent hereunder (hereinafter called Tenant for the "Additional Rent")return of the Security Deposit. Notwithstanding anything to the contrary set forth in this Section 3.5, and in the event Tenant is not in default of nonpayment by Lessee within the time period set forth aboveany provision of this Lease beyond any applicable cure and grace period, Lessor Landlord shall have all the rights and remedies with respect thereto as Lessor have for the nonpayment upon tender of the above specified Security Deposit release the Letter of Credit.
3.7. Tenant's pro rata share of increases in Operating Expenses, as defined in Article 6, is agreed to be Forty One and 33/100 percent (41.33%).
3.8. Notwithstanding anything to the contrary contained in this Article 3, provided Tenant is not in default of its obligations hereunder beyond any applicable cure and grace period, Landlord shall provide Tenant with a rent credit in the aggregate amount of $302,906.68 (the "Rent Credit") which shall be offset by Tenant in twenty-one (21) equal monthly rentalinstallments of $14,424.13 against each month's Monthly Rent commencing on the Rent Commencement Date up through and including Monthly Rent owing for December, 1999. Thereafter, commencing with the Monthly Rent due on January 1, 2000, Tenant covenants and agrees to pay to Landlord the full Basic Rent, as adjusted pursuant to Article 5, absent any credits and offsets of any kind. In the Event of any Default by Tenant of its obligations under this Lease, Landlord reserves the right to seek a repayment of this Rent Credit as additional damages in addition to all other amounts owed under the Lease.
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