Rental. Beginning on (“Rent Commencement Date”), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:
Appears in 4 contracts
Samples: Commercial Lease Agreement, Commercial Lease Agreement, Commercial Lease Agreement
Rental. Beginning on (“Rent Commencement Date”), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by $ over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:
Appears in 3 contracts
Samples: Commercial Lease Agreement, Commercial Lease Agreement, Commercial Lease Agreement
Rental. Beginning Tenant covenants to pay to Landlord annual rent (the “Rent”) in an amount equal to 50% of the sum of (a) the product of (i) the Limited Property Value of the Premises for the then-current tax year (as determined by the Maricopa County Assessor’s Office), (ii) ten percent (10%), and (iii) the aggregate primary tax rate for the then-current tax year for all primary tax jurisdictions in which the Premises is located (according to the Maricopa County Treasurer’s Office), plus (b) the product of (i) the Full Cash Value of the Premises for the then-current tax year (as determined by the Maricopa County Assessor’s Office), (ii) ten percent (10%), and (iii) the aggregate secondary tax rate for the then-current tax year for all secondary tax jurisdictions in which the Premises is located (according to the Maricopa County Treasurer’s Office). During the first three (3) years after the Rent Commencement Date (“Initial Rent Period”), Tenant shall not be required to pay more than $100,000.00 toward the Rent. If
(A) the total amount paid toward the Rent by Tenant during the Initial Rent Period is less than
(B) the actual Rent which would have been due during the Initial Rent Period, but for the foregoing limitation, then the difference (the “Deferred Rent”) shall be amortized over the next five (5) years (the “Amortization Period”) and be payable as hereafter stated. The amount of Deferred Rent remaining to be paid is hereafter referred to as the “Remaining Deferred Rent.” The Deferred Rent shall be added to the amount of Rent due each year during the Amortization Period, and shall be payable in quarterly installments with, and in addition to, each installment of Rent, commencing on the first Rent payment date of the fourth (4th) year after the Rent Commencement Date. The Remaining Deferred Rent shall be payable in full upon any termination of the Lease prior to the expiration of eight (8) years after the Rent Commencement Date. The valuations used to calculate the Rent shall be for the entire Premises, inclusive of all improvements, including but not limited to retail, garage and condominium parcels. In addition to the Rent, Tenant shall pay all applicable taxes (including use and transaction privilege tax on the Rent), and all other impositions, assessments, taxes, liens, charges or expenses of any nature whatsoever in connection with the ownership and operation of the Premises. Rent shall commence on the Effective Date (“Rent Commencement Date”), and shall be paid in equal quarterly installments. The first quarterly installment of the Rent for the first year of the Term shall be payable on the Effective Date, with each quarterly installment payable every three (3) months thereafter. The amount of Rent for the first year of the Term shall be calculated using the assessed valuations for the 2011 calendar year, as determined by the Maricopa County Assessor’s Office and the most recently available tax rates, as determined by the Maricopa County Treasurer’s Office, as though the Premises were subject to ad valorem property tax. The amount of Rent for each subsequent year of the Term shall be calculated on the anniversary of the Rent Commencement Date using the assessed valuation for the next succeeding calendar year (thus, for example, the Rent for the second year of the Term will be based on the 2012 assessed valuations and tax rates). Tenant agrees may contest the valuations determined by the Maricopa County Assessor’s Office in accordance with the procedures set forth in Section 5.5. Rent shall be prorated on a quarterly basis for any partial lease-year at the end of the Lease Term. Tenant shall, as provided under the Modification Agreement, pay, as additional Rent, any unpaid Deferred Development Fees (as defined in the Modification Agreement) which pursuant to pay Landlord the terms of the Modification Agreement is required to be paid beginning on the eighth (or its Agent as directed by Landlord8th) anniversary of the Rent Commencement Date (“Additional Rent”). Such Additional Rent shall be paid in thirty-two (32) equal quarterly installments, without notice, demand, deduction or set off, an annual rental beginning with the Rent installment due on the eighth (8th) anniversary of $ the Rent Commencement Date, payable at the same time and in equal monthly installments the same manner as Rent hereunder, provided that the unpaid balance of $ such Additional Rent shall be payable in full upon any termination of the Lease prior to the expiration of sixteen (16) years after the Rent Commencement Date. Rent (including Deferred Rent) and Additional Rent shall be payable in addition to all other sums payable under the Lease or the Development Agreement referenced in Recital A, in advance on the first day of each calendar month during the term hereofif any. Upon execution Notwithstanding any other provision of this Lease, Tenant shall pay not be entitled to any abatement of Rent, Additional Rent, or other amounts payable under this Lease if the Premises are damaged or destroyed or otherwise become untenantable during the Lease Term. Rent shall be forwarded to Landlord the first monthly installment at: City of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental dueTempe 00 Xxxx Xxxxx Xxxxxx Xxxxx, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater ofXX 00000 Attn: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:Xxxx Xxxxx
Appears in 2 contracts
Samples: Land and Improvements Lease, Modification Agreement
Rental. Beginning on (“Rent Commencement Date”), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted as provided on Exhibit B. If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:
Appears in 2 contracts
Samples: Commercial Lease Agreement, Commercial Lease Agreement
Rental. Beginning on (“Rent Commencement Date”), Tenant a) Lessee agrees and promises to pay Landlord to Lessor at 0000 Xxxxx Xxxxxx, Xxxxx 000, Xxxxxx, Xxxxx 00000 (or its Agent at such other place as directed by Landlord), without notice, demand, deduction or set off, an annual Lessor may designate) in lawful money of the U.S.A. as and for rental for the Leased Premises the sum of $ $49,200.00 as the base rental for the entire term, payable in equal $4,100.00 monthly installments of $ , in advance and without demand on the first day of each calendar month during and throughout the stated term hereofof this lease, and without any set-off or counter-claim whatsoever. Upon Should this lease commence on a day other than the first day of a calendar month or terminate on a day other than the last day of a calendar month, the rent for such partial month shall be appropriately reduced. The first monthly rental installment together with the security deposit (hereinafter stated) shall be paid to Lessor in advance, upon the execution of this Leaselease.
(b) Should Lessee, Tenant with Lessor's consent, occupy the Leased Premises prior to the beginning of the term set forth above, all provisions of this lease shall be in full force and effect from the commencement of such occupancy and the rent for such early period shall be at the same monthly rate above provided. Such prior occupancy shall not, however, shorten the term of this lease, but to the contrary, said lease shall continue in force and effect until the termination date stated herein, unless sooner terminated as provided herein.
(c) Lessee further agrees to pay to Landlord as additional monthly rental hereunder for the twelve (12) month period beginning with the first monthly installment day of rent due hereunder. Rental January first following Lessee's occupancy of the Leased Premises and for any each twelve (12) month period (or fraction) thereafter during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due(including any extensions thereof) beginning each January 1, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the an amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply equal to the term percent of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for all Urban Consumers (All Urban Consumers” (items: 1982-84 = 10084=100) published for the month of December of each calendar year during the term of this lease agreement by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) Government for Dallas, Texas, times the monthly rental paid immediately prior to such increase. The base for calculating this percentage increase shall be the Consumer Price Index published for the immediately preceding twelve (12) month period over of January, 1998. If the amount then payable hereunder. If this box Consumer Price Index is checkeddiscontinued, the annual rental payable hereunder (and accordingly parties shall accept comparable statistics on the monthly installments) shall be adjusted every If this box is checked, Tenant shall pay all rental to Landlord’s Agent purchasing power of the consumer's dollar as published at the following address:time of said discontinuance by a responsible financial periodical of recognized authority to be then chosen by Lessor.
(d) In no event shall Lessee's rent be less than the base rental set forth in paragraph 1(a) above.
Appears in 1 contract
Rental. Beginning on (“Rent Commencement Date”), 4.1 Tenant agrees to pay to Landlord as a Base Rental for the use and occupancy of the Demised Premises, the following annual rentals for each "lease year." For purposes of this agreement, the term "first lease year" shall mean the period of time commencing on the commencement date of this Lease, and expiring one (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an 1) year thereafter; and subsequent lease years shall be succeeding annual rental periods. The Base Rental for the first lease year is in the sum of $ $276,000.00, payable in equal monthly installments of $ $23,000.00 per month, payable in advance advance, beginning on the commencement date hereof and on the first day of each calendar month thereafter during this lease term or any renewal thereof. Commencing with the second lease year and each lease year thereafter during the term of this Lease or any renewal thereof, the Base Rental for each such succeeding lease year shall be increased as provided for in Section 4.2 hereof.
4.2 The Base Rental shall be periodically adjusted as provided for in Section 4.1 hereof. Upon execution Commencing with the second lease year and on the commencement of each lease year thereafter during the remaining term(s) of this Lease, the Base Rental shall be increased by the sum of three percent (3%) (compounded) over the Base Rental in effect for the immediately preceding lease year. The adjusted Base Rental shall then remain in effect until the next succeeding adjustment. Under no circumstances shall the adjusted Base Rental ever be less than the sum set forth in Section 4.1 hereof.
4.3 Tenant shall pay the Base Rental to Landlord for each lease year, in equal monthly installments, in advance, on the first day of each and every month during the term of this Lease, commencing on the commencement date of this Lease, plus any excise, sales, use or privilege tax or taxes, if any, levied on the rentals or the receipt thereof, except Landlord's income tax. All rent shall be paid by Tenant to Landlord at 000 Xxxxxx Xxxxx, Xxxxxxx, Xxxxxxxxx, 00000, c/o Xxxxx Xxxxx, or at such other place as may be designated in writing by the Landlord.
4.4 Tenant may occupy the Demised Premises subsequent to the substantial completion of Landlord's Work. In such event, the Tenant shall pay to Landlord a rental for such period of occupancy prior to the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal commencement date of this Lease is in the sum of $767.00 per day for each day (or any portion thereof) so occupied by Tenant. Such earlier occupancy shall not change the commencement date or termination date of this Lease.
4.5 The rent provided for in paragraph 2 hereof and effectively exercised by Tenant, this Lease shall be an absolute "net net net" return to the rental adjustments provided herein shall apply to Landlord for the term of this Lease, free of any expenses or charges whatsoever with respect to the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:Demised Premises.
Appears in 1 contract
Samples: Lease (Swing N Slide Corp)
Rental. Beginning on (“Rent Commencement Date”), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by $ over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted as provided on Exhibit BC. If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:
Appears in 1 contract
Samples: Commercial Lease Agreement
Rental. Beginning on (“Rent Commencement Date”), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph Section Paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by $ over the amount then payable hereunder. In the event renewal of this Lease is provided for in Section Paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted as provided on Exhibit B. If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:
Appears in 1 contract
Samples: Commercial Lease Agreement
Rental. Beginning (a) Tenant shall pay to Landlord throughout the term of this Lease, as rental for the Premises, beginning on the Commencement Date for each portion of the Premises , the following sums:
(“Rent Commencement Date”1) The Base Rental payable per month shall be one-twelfth (1/12th) of the product of (i) the number of square feet of Rentable Area of the Premises as specified in the Basic Lease Information, as may be adjusted as hereinabove provided, and (ii) the applicable square foot rate specified in the Basic Lease Information as the "Base Rental".
(2) In addition to the Base Rental payable pursuant to subparagraph 3(a)(1), for each calendar year of the term of this Lease, Tenant, as Additional Rental, shall pay Tenant's Percentage Share, as specified in the Basic Lease Information, of the Operating Expenses for the then current calendar year. From the Commencement Date through the end of December, 2000, the Additional Rental shall be equal to $6.75 per square foot per year of Rentable Area of the Premises. Thereafter, the Additional Rental payable pursuant to this subparagraph (2) shall be determined and adjusted in accordance with the provisions of subparagraph 3(b).
(b) The determination and adjustment of Additional Rental contemplated under subparagraph 3(a)(2) shall be made in accordance with the following procedures:
(A) During December of each calendar year during the term of this Lease, or as soon after each such December as practicable, Landlord shall give Tenant agrees to pay Landlord (written notice of its estimate of Additional Rental payable under subparagraph 3(a)(2) for the ensuing calendar year. On or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on before the first day of each calendar month during the term hereof. Upon execution of this Leaseensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amount together with the first Base Rental.
(B) In the event Landlord's notice set forth in subparagraph 3(b)
(1) (A) is not given in December, until the calendar month after such notice is delivered by Landlord, Tenant shall continue to pay to Landlord monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month ensuing calendar year estimated payments equal to the amounts payable during the calendar year just ended. Upon receipt of any such post-December notice, Tenant shall be (i) commence as of the pro-rated portion immediately following calendar month, and continue for the remainder of the calendar year, to pay to Landlord monthly such new estimated payments and (ii) if the monthly installment of rental duethe new estimate of such Additional Rental is greater than the monthly installment of the estimate for the previous calendar year, pay to Landlord within thirty (30) days of the receipt of such notice an amount equal to the difference of such monthly installment multiplied by the number of full and partial calendar months of such year preceding the delivery of such notice.
(C) If at any time or times it appears to Landlord that the amount payable under subparagraph 3(a)(2) for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord may revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate. Failure to deliver an estimate of Additional Rental payable under this Paragraph 3 or to make a 30 revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amounts of Additional Rental.
(2) Within one hundred sixty (160) days after the close of each calendar year or as soon after such 160-day month. If this box is checkedperiod as practicable, Landlord shall deliver to Tenant a statement of the annual rental actual amount of Additional Rental payable hereunder (for the calendar year just ended certified by a financial officer of Landlord or its management company or by certified public accountants designated by Landlord, and accordingly the monthly installments) such statement shall be adjusted every Lease Year Anniversary final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant owes an amount of Additional Rental that is less than the estimated payments for the calendar year just ended previously made by % over Tenant, Landlord shall credit such excess to the amount then payable hereunder. In next payments of Additional Rental coming due or, if the event renewal term of this Lease is provided about to expire, refund such excess to Tenant if Tenant is not in default under this Lease (in the instance of a default such excess shall be held as additional security for in paragraph 2 hereof Tenant's performance, may be applied by Landlord to cure any such default, and effectively exercised shall not be refunded until any such default is cured). If on the basis of such statement Tenant owes an amount of Additional Rental that is more than the estimated payments for the calendar year just ended previously made by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every If this box is checked, Tenant shall pay all rental the deficiency to Landlord’s Agent at Landlord within thirty (30) days after delivery of the following address:statement.
(3) For partial calendar years during the term of this Lease, the amount of Additional Rental payable pursuant to subparagraph 3(a)
Appears in 1 contract
Samples: Lease Agreement (Interland Inc /Mn/)
Rental. The rent payable under this Lease shall be as follows: Beginning on the Commencement Date and ending on the four (4) year anniversary thereof, of the Rent Beginning Date, Lessee shall pay to Lessor, or to such other person, firm or corporation as Lessor from time to time may designate in writing, the sum of EIGHT THOUSAND FIFTY DOLLARS ($8,050) per month in advance on or before the first (1st) day of each month. Monthly rent for any Renewal Period beyond the initial term will increase based on the Cost of Living. This will be negotiated and determined by both parties. The rent due will include all triple net charges for the initial four-year period. The minimum annual lease payment for any Renewal Period shall be adjusted and calculated upon the expiration of the then-expiring term (an “Rent Commencement Adjustment Date”), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an follows: The calculation for any minimum annual rental of $ , payable in equal monthly installments of $ , in advance lease payment adjustment will be based on the first day U.S. Department of each calendar month during the term hereof. Upon execution Labor, Bureau of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Labor Statistics National Consumer Price Index for All Urban Consumers” (Consumers -- All Items, Using 1982-84 1984=100 as the base period (the “Index”). For purposes of computing the minimum annual lease payment adjustment, the beginning Index number will be the Index number which was in effect on the beginning date of the lease period just ended prior to the Adjustment Date (“Beginning Index”). The index for the month immediately preceding the Adjustment Date in question (“Extension Index”) is to be used in determining the amount of the adjustment. The minimum annual lease payment (to be paid in equal monthly installments) for the applicable subsequent lease period (until the next lease Adjustment Date) shall be determined by multiplying the minimum annual lease payment then being paid by Lessee for the then- expiring lease period by a fraction, the numerator of which is the Extension Index and the denominator of which is the Beginning Index. 3 Index CPI Base Index 0000-0000 000 Beginning Index May 1, 2010 (Est.) 160 Adjustment Date May 1, 2015 Extension Index May 1, 2015 (Est.) 175 Adjustment Formula: Extension Index 175 = 100) = 1.094 Beginning Index 160 Adjusted Minimum Annual Lease Payment = Previous Minimum Annual Lease Payment of $9,900.00 x 1.094 = $10,830.60 ($902.55/month). The example above is for illustration purposes only and shall have no binding effect upon the parties hereto. If the Index is changed so that the base year differs from that in effect when the period commences, the Index shall be converted in accordance with the conversion factor published by the Bureau of Labor Statistics of the United States Department of Labor, Bureau of Labor (“CPI”) for Statistics. If the immediately preceding twelve (12) month period over Index is discounted or revised during the amount then payable hereunder. If this box period, such other government index or computation with which is checked, the annual rental payable hereunder (and accordingly the monthly installments) replaced shall be adjusted every If this box is checked, Tenant shall pay all rental used in order to Landlord’s Agent obtain substantially the same result as would be obtained if the Index had not been discounted or revised. The maximum increase in Lease rate will be capped at the following address:3%.
Appears in 1 contract
Samples: Commercial Lease Agreement
Rental. Beginning on Tenant shall pay to Landlord as annual base rental for the premises during the first five (“Rent Commencement Date”5) years of this Lease an annual base rent of. Two Hundred Ninety-six Thousand One Hundred Sixty Dollars ($296,160.00), Tenant agrees to pay Landlord (or its Agent payable monthly in advance at such place as directed may be designated by Landlord). Rent shall commence on the date Landlord delivers possession of the premises to Tenant, without noticeand if it-is a date other than the first day of the month, demandthe first month’s rent shall be prorated. The annual base rent shall be adjusted effective as of the first day of the sixth year of the Lease, deduction or set off, an annual rental and as of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during year thereafter based upon seventy-five .percent (75%) of the term hereofincrease or decrease in the cost of living in relation to the base rent. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month Such increase or decrease shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary determined by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of utilizing as the “base index” the Consumer Price Index for All Urban Consumers” Consumers (1982CPI-84 = 100U) published monthly by the Bureau of Labor Statistics of the United States U.S. Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over of May, 1999, and utilizing for determining the amount initial cost of living increase the CPI-U for the month of May, 2004, and the month of May for each year thereafter . If the CPI-U index is discontinued during the term of this Lease, then payable hereunder. If in order to carry out the purpose and intent of this box is checkedparagraph, the parties agree to select and agree upon and conform to a price index-or standard which is most nearly like the one herein adopted, or in the event of a revision thereof providing a different base period, the formula herein adopted will be amended to conform with a conversion of said figures. Until such new index or standard is agreed upon or the conversion is standardized, as the case may be, the rental due shall be the last in force prior to discontinuance of said price index herein adopted as a basis or the revision thereof. After such new index or standard or conversion is determined, the rent shall be retroactively adjusted and any additional amounts due shall be paid with the next rental payment. Notwithstanding the fact that the adjustment(s) may result in a decrease, the effective Lease rate shall never be based upon a rate which is less than the original base annual rental payable hereunder (and accordingly rent. In those years in which the monthly installments) interest rate on Landlord’s mortgage encumbering the real estate is adjusted, the base annual rent shall be adjusted every If this box is checkedbased upon 100% of the increase or decrease of the mortgage interest rate (as and when the mortgage interest rate adjustment occurs) as well as the CPI index adjustment set forth hereinabove, Tenant provided there shall pay all rental to be no adjustment in the interest rate on Landlord’s Agent at mortgage during the following address:initial five (5) lease years.
Appears in 1 contract
Rental. Beginning on (“Rent Commencement Date”), 3.1 Tenant covenants and agrees to pay Landlord (or its Agent as directed by to Landlord), without noticededuction, setoff, prior notice or demand, deduction or set off, an annual rental for the use and occupancy of $ , the Premises a Minimum Monthly Rent of Nine Thousand Three Hundred Twenty-Five Dollars and 50/100 ($9,325.50) payable in equal monthly installments of $ , in advance on the first day of each and every calendar month during the term hereofLease Term. Upon execution of this Lease, Tenant shall pay to Landlord If the Minimum Monthly Rent commences on a date other than the first monthly installment day of rent due hereunder. Rental a calendar month, the Minimum Monthly Rent, for any period during the term hereof which is less than one that month shall be prorated on a per diem basis and be paid to Landlord within five (5) days after the pro-rated portion Commencement Date. If the Rentable Area is adjusted in accordance with Section 1.2 following completion of the monthly installment of rental due, based upon a 30 day month. If this box is checkedconstruction, the annual rental payable hereunder (and accordingly the monthly installments) Minimum Monthly Rent shall be adjusted every Lease Year Anniversary to one-twelfth of the product obtained by % over multiplying the amount then payable hereunder. In actual square foot Rentable Area, as adjusted, by Eighteen and 00/100 Dollars ($ 18.00).
3.2 Upon each anniversary of the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by TenantCommencement Date, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) Minimum Monthly Rent shall be adjusted every Lease Year Anniversary by in accordance with the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” , U.S. City Average (1982-84 = 1001991 403.
1) published using the table entitled, "All Urban Consumers", issued by the U.S. Department of Labor, Bureau of Labor Statistics Statistics, commonly referred to as the Consumer Price Index ("C.P.I."). The first calendar month shall be deemed the "Base Month". In no event shall the C.P.I. adjustment to the Minimum Monthly Rent exceed 4% per year.
3.3 The Minimum Monthly Rent for each year of this Lease subsequent to the first year of this Lease shall be adjusted and the same shall be computed by multiplying the Minimum Monthly Rent for the "Base Month" by a fraction, the numerator of which is the said "C.P.I."-for the last month of the United States Department preceding year of Labor (“CPI”) this Lease and the denominator of which is the said "C.P.I." for the immediately "Base Month". If the publication of said "C.P.I." is discontinued, then the parties shall, in good faith, agree on a suitable substitute.
3.4 In no event shall the Minimum Monthly Rent following an adjustment under this Article be reduced below the Minimum Monthly Rent preceding twelve (12) month period over an adjustment.
3.5 In the event of any delay in computing the rental adjustment for a subsequent Lease year, Tenant shall continue payment of the most recent Minimum Monthly Rent as provided herein, until such time as the rental adjustment has been computed, at which time an accounting will be made, retroactive to the beginning of the subsequent Lease year for which adjustment is made, and the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) due Landlord shall be adjusted every If this box is checked, paid by Tenant shall pay all rental to Landlord’s Agent at the following address:within ten (10) days of receipt of demand.
Appears in 1 contract
Rental. Beginning on (“"Rent Commencement Date”"), Tenant Xxxxxx agrees to pay Landlord (or its Agent as directed by LandlordXxxxxxxx), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunderhereunder and the last months rent of $ . Rental for any period during the term hereof which is less than one month shall be the proPage 2 of 13 STANDARD FORM 593-rated portion of the monthly installment of rental due, based upon a 30 day month. T Tenant Initials Landlord Initials If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “"Consumer Price Index for All Urban Consumers” " (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“"CPI”") for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Leased Year by 3% over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, If this box is checked, Tenant shall pay all rental to Landlord’s 's Agent at the following address:
Appears in 1 contract
Samples: Commercial Lease Agreement
Rental. Beginning on (“Rent Commencement Date”), a) Tenant hereby covenants and agrees to pay to Landlord (at the address provided above, or its Agent at such other place as directed by Landlord)Landlord may from time to time designate in writing, without noticeas rental for the Premises during the term of this Lease, demand, deduction or set off, an annual rental of $ base rent, payable monthly in equal monthly installments advance, beginning on the first day of $ , in advance commencement of this Lease and continuing on the first day of each calendar month during thereafter for the entire term hereof. Upon execution of this LeaseLease as follows:
(i) $1500 per month Notwithstanding the foregoing, the base rent shall be adjusted every two and one-half (2-1/2) years after the Commencement Date (each such date being referred to herein as an "Adjustment Date") as follows: the base for computing the adjustment is the Consumer Price Index ("CPI") for all Urban Consumers--All Items for the Mid-West, __________ = 100, published by the United States Department of Labor, Bureau of Labor Statistics (the "Index"), which is in effect for the month of (x) the Commencement Date, in the case of the initial adjustment, and (y) the prior Adjustment Date, for each adjustment thereafter (the "Beginning Index"). The percentage increase in the Index published for the calendar month immediately prior to the Adjustment Date over the Beginning Index shall constitute the percentage by which the base rent shall increase on the Adjustment Date.
(b) As additional rent, Tenant shall pay to Landlord all Real Estate Taxes (as hereinafter defined), imposed on the first monthly installment of rent due hereunder. Rental for any period Premises with respect to every calendar year or part thereof during the term hereof which is less than one month of this Lease. "Real Estate Taxes" shall be defined as ad valorem real property taxes based on the pro-rated portion assessed valuation of the monthly installment of rental duereal property, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) provided that said term shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater ofnot include: (i) percent ( %) over the amount then payable hereunder, or, special assessments; (ii) taxes levied, assessed, or imposed against the percentage increase rents, profits or income derived from the Premises; (but not ii) penalties and interest; or (iii) increases in property taxes occurring as a result of any decreasetransfer or sale of the Premises (or any portion thereof) or any improvements made to the Premises during the term hereof, other than improvements made by Tenant. If due to a change in the numerical index method of taxation, any franchise, income, profit, or other tax, however designated, shall be levied against Landlord's interest in the Premises in whole or in part for or in lieu of any tax which would otherwise constitute Real Estate Taxes, such taxes shall be included in the term Real Estate Taxes for purposes hereof. All such payments shall be prorated for any partial calendar years in which the term of this Lease shall commence or expire. Notwithstanding anything contained in this Section 3(b) to the contrary, Real Estate Taxes shall not include, and Tenant shall have no obligation to pay, any increases in the Real Estate Taxes with respect to the Premises resulting from, directly or indirectly, the sale or transfer of the “Consumer Price Index Premises (or any portion thereof) by Landlord during the term of this Lease. Tenant and Landlord shall each be eligible to institute tax reduction or other proceedings to reduce the assessed valuation of the Premises. Should Landlord be successful in any such reduction proceedings and obtain a rebate of Real Estate Taxes for All Urban Consumers” periods for which Tenant has paid such taxes, Landlord shall, after deducting its expenses, including, without limitation, attorneys' fees and disbursements in connection therewith, promptly deliver to Tenant such rebate after Landlord has received such proceeds. Tenant shall be entitled to all rebates obtained by Tenant with respect to the period for which Tenant has paid Real Property Taxes. Landlord shall make written request for payment of Real Estate Taxes not more than thirty (1982-84 = 10030) published days prior to the due date for payment of such taxes. Along with such written request, Landlord shall furnish a copy of the tax xxxx(s) for which Landlord is seeking reimbursement. Failure by the Bureau Landlord to provide notification of Labor Statistics and supporting documentation for Real Property Taxes within one hundred eighty (180) days after the due date of such taxes shall constitute a waiver by the United States Department Landlord of Labor (“CPI”) Tenant's obligation to pay said Real Estate Taxes for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:corresponding tax year.
Appears in 1 contract
Samples: Lease (United Road Services Inc)
Rental. Beginning on (“Rent Commencement Date”), Tenant Lessee agrees to pay Landlord to Lessor rent in accordance with the following schedules and procedures:
(or its Agent as directed by Landlorda) Commencing December 1, 1997 this Lease shall be divided into a series of rental periods, each consisting of one hundred twenty (120) months (the "rental periods"), without noticethe first such period to begin on December 1, demand1997. Each successive rental period shall commence at the expiration of the immediately preceding rental period. The last rental period shall be reduced in term in order to coincide with the expiration of this Lease.
(b) The rental for the rental period commencing December 1, deduction or set off, an annual 1997 of this Lease shall be a sum per month calculated on the basis of Eighty-One Cents ($.81) per square foot per year for Parcel No. 1 and Twenty Cents ($.20) per square foot per year for Parcel No. 2 subject to adjustment as provided below. Said rental of $ , sum shall be payable in equal monthly installments of $ , in advance on or before the first tenth (10th) day of each calendar month during the term hereofmonth. Upon execution For each successive rental period of this Lease, Tenant shall pay to Landlord Lease and any extension thereof the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month rental shall be a sum agreed upon by Lessor and Lessee provided, however, during this and each successive rental period the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) rents shall be adjusted every Lease Year Anniversary by % over upward or downward after the amount then payable hereunder. In expiration of the event renewal first sixty (60) months of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, each rental period (the rental adjustments provided herein shall apply adjustment date) according to the term following computation: "The base figure for computing the adjustment is the arithmetic average of the Lease so renewed, or If this box is checked, thirty-six (36) monthly index figures for the annual fifth (5th) through fortieth (40th) months immediately preceding the existing rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) period as shown in the numerical index of the “Consumer Price Index for All Urban Consumers” Consumers for Los Angeles/Anaheim/Riverside, CA/All Items based on the period 1982-84 = 100 as published by the United States Department of Labor's Bureau of Labor Statistics. The index figure for the adjustment date is the arithmetic average of the thirty-six (36) monthly index figures of said Consumer Price Index for All Urban Consumers for the fifth (5th) through fortieth (40th) months immediately preceding the adjustment date. "The index for the adjustment date shall be computed as a percentage of the base figure. For example, assuming the base figure is 110 and the index figure for the adjustment date is 121, the percentage to be applied is 121/110 = 1.10 = 110%. "That percentage of the base figure shall be applied to the initial rent in effect at the beginning of the then existing rental period and will continue for the remaining sixty (60) months of the rental period. "In the event the Consumer Price Index for All Urban Consumers for Los Angeles/Anaheim/Riverside, CA/All Items is no longer published, the index for the adjustment date shall be the one reported in the U. S. Department of Labor's comprehensive official index most nearly answering the foregoing description of the index. If an index is calculated from a base different from the base period 1982-84 = 100, the base figure used for calculating the adjustment percentage shall first be converted under a formula supplied by the Bureau. "If the above-described Department of Labor indices are no longer published, another index generally recognized as authoritative shall be substituted by agreement of the parties. If they are unable to agree within sixty (60) published days after demand by either party, a substitute index will be selected by the Chief Officer of the San Francisco Regional Office of the Bureau of Labor Statistics or its successor. "Notwithstanding the publication dates of the United States Department index, the effective date of Labor the rent adjustment is at the expiration of the first sixty (“CPI”60) months of each rental period. Further, notwithstanding anything to the contrary contained here in this Paragraph 2(b), the rent adjustment shall not exceed seven (7) percent per annum or thirty-five percent (35%) per adjustment, nor shall the rental rate(s) resulting from the rent adjustment exceed the applicable rental rate(s) most recently adopted by the Board of Port Commissioners at the time of such rent adjustment. Until said rent adjustment can be reasonably determined by index publication, Lessee shall continue to make rental payments pursuant to this Lease at the same rent in effect at the then existing rental period. Because of this provision, overpayment of rents shall be credited to the Lessee's rental account and underpayments of rent shall be immediately paid to the Lessor."
(c) In the event the parties cannot agree to the rent for a rental period, the controversy as to rent for said period shall be determined by three arbitrators. After notice by either party to the other requesting arbitration, one arbitrator shall be appointed by each party. Notice of the appointment shall be given by each party to the other when made. The two arbitrators shall immediately choose a third arbitrator to act with them. If they fail to select a third arbitrator, on application by either party, the third arbitrator shall be promptly appointed by the then presiding judge of the Superior Court of the State of California, County of San Diego, acting in his individual capacity. The party making the application shall give the other party notice of his application. All of the arbitrators shall be qualified real estate appraisers. Each party shall bear the expense of its own appointed arbitrator and shall bear other expenses pursuant to Section 1284.2 of the Code of Civil Procedure of California. Hearings shall be held in the City of San Diego, California. The award shall be the decision of not less than two of the arbitrators. Said award shall be the rent which Lessor would derive from Lessor's property if it was vacant land, without any improvements thereon, and made available on the open market for new leasing purposes at the commencement of the rental period under arbitration. For the purpose of this arbitration procedure, the arbitrators shall assume that the Lessor has a fee simple absolute estate unburdened by any existing lease. In determining what rent Lessor could derive from said property if it were made available on the open market for new leasing purposes, the arbitrators shall consider the benefits and burdens of all the provisions of this Lease to determine whether or not this Lease is more or less restrictive than private sector or other governmental leases provided, however, no diminution in value shall be taken as a result of any existing Contaminants or improvements, or lack of improvements, on the subject property, and the property shall be considered as if it were available to be leased for general industrial uses. Said uses shall not be confined to those permitted Lessee herein nor to Lessee's actual use of the leased premises. In determining the rates, returns, rents and/or percentage rentals for said use and/or uses, the arbitrators shall use and analyze only the market data that is found in the open marketplace, such as is demanded and received by other Lessors for the immediately preceding same or similar uses as those referenced above. In all cases, the award shall be based upon recognized real estate appraisal principles and methods. The award determined by the arbitrators shall be effective and retroactive to the first day of the rental period under arbitration. The award shall be in writing in the form of a report that is in accordance with the powers of the arbitrators herein, supported by facts and analysis and in accordance with law. The arbitrators shall make copies of their report available to any ethical practice committee of any recognized professional real estate organization. The arbitration shall be conducted under and subject to Sections 1280 through 1294.2 of the Code of Civil Procedure of California.
(d) 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. Accordingly, in the event Lessee is delinquent in remitting the rent due in accordance with the rental provisions of this Lease, all rent not paid when due and payable shall bear interest from the date due until paid at the rate of ten percent (10) per annum. The parties hereby agree that said interest charges represent a fair and reasonable estimate of the costs Lessor will incur by reason of late payment by Lessee. Acceptance of such interest charges payment by Lessor shall in no event constitute a waiver of Lessee's default with respect to such overdue amount, nor prevent Lessor from exercising any of its other rights and remedies. The Executive Director of Lessor shall have the right to waive for good cause any interest charges upon written application of Lessee for any such delinquency period.
(e) All payments by Lessee to Lessor shall be by a good and sufficient check. No payment made by Lessee or receipt or acceptance by Lessor of a lesser amount than the correct amount of rent due under this Agreement shall be deemed to be other than a payment on account of the earliest rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Lessor may accept such check or payment without prejudice to Lessor's right to recover the balance or pursue any other available remedy. Notwithstanding the foregoing, in the event that Section 7 of Lessor's Board of Port Commissioners' Policy No. 352, adopted by Resolution No. 92-47 on February 18, 1992, is revised, superseded, or rescinded within twelve (12) month period over months after the amount effective date of this Amendment, then payable hereunder. If this box is checked, the annual rental payable hereunder (2(a) and accordingly the monthly installments2(b) shall be adjusted every If automatically superseded by an amendment to this box Lease to be signed by Lessor and Lessee, which shall reflect any changes to said Section 7 of Lessor's Board of Port Commissioners' Policy No. 352. In the event there is checkedany dispute between Lessor and Lessee regarding the wording of said amendment, Tenant the decision of Lessor's Board of Port Commissioners regarding the wording of said amendment shall pay all rental to Landlord’s Agent at the following address:be final.
Appears in 1 contract
Rental. Beginning on (“Rent Commencement Date”)A) As base rental for the Leased Premises, Tenant hereby agrees to pay to Landlord (or its Agent as directed by Landlord)without deduction, without notice, demand, deduction or set set-off, an annual rental or prior notice or demand in lawful (legal tender for public or private debts) money of $ the United States of America the sum of One Hundred Five Thousand Seven Hundred Eighty and no/100 Dollars ($101,780.00) per annum for the first year of the Lease, except as adjusted hereinafter.
(B) Rental is payable in equal advance monthly installments of $ $7,369.00 from June 1, 2009 to November 30, 2009 and $8,815.00 from December 1, 2009 through May 31, 2011 which is computed at a base rental rate of $18.50 per net rentable square foot for the first two years of the Lease (the “Base Rental Rate”) commencing, and continuing due and payable on the first day of each and every month for the entire term of the lease, except as adjusted herein, at the office of Fairlawns Partnership, 0000 Xxxxxxxx Xxx, P. O. Xxx 0000, Xxxxxxxxx, Xxxxxxxxx 00000-0000, or such other place as Landlord may direct in writing. Checks, specifically including those for rental, shall be made payable. Rental for a portion of a month, if any, (at the beginning and end of the term hereof) shall be prorated. The first month’s rent is due upon execution of this Lease Agreement. Other remedies for non-payment of rent under Paragraph 15 or elsewhere herein notwithstanding, should Landlord choose to accept a late payment of rent, a service charge of FIFTEEN PERCENT (15%) of the rent owed shall become due and payable in addition to the regular rent owed under this lease if the monthly rent payment is not received by Landlord’s Agent before the Fifth (5th) day of the month for which said rent is due. A check returned for any reason shall be considered non-payment of rent and the late charge shall apply.
(C) Tenant shall pay as additional rent 100% of any increase in real estate taxes or any special assessments imposed by reason of improvements made to the Leased Premises by or for the benefit of Tenant after the date of Tenant’s occupancy.
(D) Tenant shall also pay as additional rent 100% of any increase in Landlord’s insurance premium including, but not limited to, property and liability coverage for the building in which the Leased Premises are located above the premium in effect as of the date of this Lease if said increase is attributable to Tenant’s use or occupancy of the Leased Premises. Payment under this clause shall be due within thirty (30) days of delivery of notice thereof to Tenant.
(E) It is further understood and agreed that Tenant shall reimburse Landlord for the full amount of any sales, use or other tax charge (excepting income tax) that may be payable by or chargeable to Landlord upon or with respect to the rent paid by Tenant or received by Landlord hereunder; so that the rent payable by Tenant shall be received by Landlord net of any taxes other than Landlord’s income tax. At the end of any period for which such tax may be levied, Landlord shall notify Tenant in writing of the amount of such tax to be reimbursed by Tenant; and Tenant shall pay such amount to Landlord within thirty (30) days after receipt of such written notice. If Tenant fails to make this payment within the time prescribed, Landlord shall be entitled to all remedies hereunder as though for any other breach of covenant of conditions herein.
(F) Tenant shall pay as additional rent 22.84% percent of the increase in operating expenses over the operating expenses actually incurred during any calendar year of the Lease in excess of the operating expenses for the calendar year 2009. Operating expenses shall include but not be limited to the cost of the usual janitorial, housekeeping, scavenger services and outdoor contract services, inspection fees, repairs and maintenance to the improvements, salaries of all building personnel, management fees, expenses required under any governmental law or regulation that was not applicable to the building at the time it was originally constructed, real estate taxes, and Landlord’s insurance premium. Such annual increase if any, shall be paid by Tenant in equal installments in advance on the first day of each calendar month during in the term hereof. Upon execution of this Lease, Tenant shall pay to amount estimated by Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month and shall be computed on the pro-rated portion basis of twelve (12) consecutive calendar months as designated by Landlord. Landlord shall within ninety (90) days or as soon thereafter as possible after the monthly installment end of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding each such twelve (12) month period over period, furnish to Tenant a statement showing in reasonable detail the amount then payable hereunderof the operating costs for the preceding period. If this box is checked, Necessary adjustments shall thereupon be made and the annual rental payable hereunder (and accordingly payments to be made by Tenant for the monthly installments) ensuing year shall be adjusted every If this box is checkedestimated accordingly. At the expiration of the lease, Tenant’s last installment shall be pro-rated through the date of termination and any necessary adjustments with regard thereto shall be made within sixty (60) days after the date of said termination and upon Landlord furnishing Tenant with a statement detailing Landlord’s actual increased operating costs through Tenant’s date of termination. Tenant shall pay all rental to any such amounts herein within thirty (30) days after receipt of such notice.
(G) Landlord’s Agent failure during the term of this lease to prepare and deliver any of the tax bills, statements, notices or bills referred to in the above mentioned articles, or Landlord’s failure to demand payment of additional rent provided for hereunder, shall not in any way cause Landlord to forfeit or surrender its right to collect any additional rent which may have become due during the term of this lease.
(H) Tenant’s annual base rent shall be increased to $19.00 per square foot on June 1, 2011 computed at the following address:$108,660.00 per annum payable in monthly installments of $9,055.00 as provided hereinabove.
Appears in 1 contract
Samples: Lease Agreement (Senetek PLC /Eng/)
Rental. Beginning on (“Rent Commencement Date”)a) As rental for the Leased Premises, Tenant agrees to pay Landlord (or its Agent as directed by to Landlord), without notice, demand, deduction offset or set offabatement, an the annual base rental of $ described below, due and payable in equal monthly installments of $ , in advance on or before the first day of each calendar month during beginning on the term hereofCommencement Date and thereafter for the remainder of the term, together with any other additional rental as hereinafter set forth. Upon execution Rental payments not received by Landlord within five (5) calendar days of the due date thereof shall be subject to a late charge due and payable by Tenant to Landlord on the sixth (6th) calendar day after the due date thereof in an amount equal to ten percent (10%) of such past due rental, together with interest upon the past due rental payments at the rate of twelve percent (12.0%) per annum from the due date thereof until paid. If the Commencement Date of this Lease, Tenant Lease shall pay to Landlord be a date other than the first monthly installment day of a calendar month, applicable rent due hereunder. Rental for any period during the term hereof which is less than one such month shall be the pro-rated portion of the monthly installment of rental dueprorated on a daily basis, based upon a 30 day on the number of days in such month. If this box is checked.
(b) The "base rental" for each lease year shall be THIRTY ONE THOUSAND SEVENTY SEVEN and 50/100 U.S. DOLLARS ($31,077.50), the annual rental payable hereunder (and accordingly the monthly installments) but shall be adjusted every Lease Year Anniversary by % over as provided in Paragraph 3.01 (b) and in Paragraphs 3.02 and 7.
01. The first "lease year" shall commence the amount then payable hereunder. In Commencement Date and end on the event renewal day before the first anniversary of this Lease the Commencement Date (provided that if the Commencement Date is provided for in paragraph 2 hereof and effectively exercised by Tenantnot the first day of a calendar month, the rental adjustments provided herein first "lease year" shall apply to end on the term last day of the Lease so renewed, or If this box is checked, calendar month in which the annual rental payable hereunder (and accordingly first anniversary of the monthly installments) Commencement Date occurs). Each subsequent "lease year" shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period commencing on the day after the last day of the first lease year and the subsequent anniversaries thereof. Beginning on the first anniversary of the Commencement Date and on each succeeding anniversary date thereafter, the "Base Rental" for each lease year shall automatically increase by an amount equal to four percent (4%) over the amount then payable hereunderpreceding year's base rental.
3.02 The base rental provided in paragraph 3.01 above, incorporates as a part thereof all costs and expenses of construction of the Leased Premises on the basis set forth in the plans and specifications attached hereto in Exhibit "B" (hereinafter referred to as the "Approved Plans and Specifications"), but does not take into account: (1) any increases in such costs and expenses due to cost incurred in excess of the amounts set forth in allowances; or (2) due to Change Orders as defined in Paragraph 7.01; or (3) increases in the square footage of the Building above 2,005 square feet. If this box is checked, the annual rental payable hereunder (Changes in such costs and accordingly the monthly installments) expenses due to Change Orders shall be adjusted every If this box is checked, Tenant taken into account the manner described in Paragraph 7.01 In no event shall pay all annual base rental to Landlord’s Agent at for any years in the following address:term be less than the amount stated in Paragraph 3.01 (b).
Appears in 1 contract
Rental. Beginning on For and in consideration of the use of the Leased Premises, the LESSOR requires the LESSEE and the latter hereby agree to pay monthly rental, to be paid to the LESSOR’s office address in advance and within the first five (“Rent Commencement Date”5) working days of the month. The basic monthly rental of FOUR HUNDRED FIFTY-FIVE THOUSAND SIX HUNDRED SIXTEEN PESOS & 00/100 (Php 455,616.00), Tenant agrees to pay Landlord (or its Agent as directed by Landlord)Philippine Currency, without noticeinclusive of 12% VAT, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance Payment shall commence on the first day of each calendar 1st month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (Term and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary covered by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index acceptable post dated checks to be issued by batches of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) checks each batch to be issue and submitted on the last month of each year prior to the next year of the lease period, as follows:
a. Eleven (11) postdated checks for the first (1st) year of the lease period over submitted upon signing of the lease contract;
b. Twelve (12) postdated checks for the second (2nd) year of the lease period submitted on the tenth (10) month of the first (1st) year of the lease contract;
c. Ten (10) postdated checks for the third (3rd) year of the lease period submitted on the tenth (10) month of the second (2nd) year of the lease contract. The amount then payable hereunder. If this box is checked, of checks for the annual rental payable hereunder (and accordingly the monthly installments) 2nd year shall be adjusted every If this box is checkedaccordingly based on the applicable escalation rate for that year. No rentals shall be recognized as having been paid unless evidenced by an Official Receipt of the Lessor. Neither payment of rentals made by the Lessee to unauthorized person are to be recognized. All payments shall be made without the necessity of any previous demand or service of a collector, Tenant it being understood that in case of default, any amount owing shall pay all rental to Landlord’s Agent automatically bear interest at the following address:rate of two percent (2%) per month, plus penalty of two percent (2%) per month computed from the due date until fully paid, and in addition, LESSEE shall be liable to LESSOR for an additional sum equivalent to twenty-five percent (25%) of the rentals due and unpaid as attorney's fees in the event of litigation, without prejudice to the LESSOR's right to terminate this Contract and to eject the LESSEE as hereinafter set forth. Furthermore, and in addition to the foregoing, in the event LESSEE incurs any delay in the payment of rentals for a period of thirty (30) calendar days or more, the LESSOR shall be entitled to summarily cut off all electricity, telephone, water and other utility services to the Leased Premises. The LESSEE shall, upon the execution of this Contract, make a deposit with the LESSOR in amount equivalent to three (3) months rental amounting to ONE MILLION THREE HUNDRED SIXTY-SIX THOUSAND EIGHT HUNDRED FORTY-EIGHT PESOS & 00/100 (Php 1,366,848.00) Philippine Currency, inclusive of 12% VAT, as advance rental. The said advance rental shall be applicable on the first and the last months of the lease term. There would be an escalation rate at ten percent (10%) per annum based on the applicable monthly rental rates, which shall commence effective on the second (2nd) year of the lease term and every year thereafter until the third (3rd) year. LEVEL PERIOD OF LEASE RATE/SQ.M. RENTAL (VAT exclusive) 2007 - 2008 Php400.00/sq.m. Php406,800.00 / month 2008 - 2009 Php440.00/sq.m. Php447,480.00 / month 2009 - 2010 Php484.00/sq.m Php492,228.00 / month
Appears in 1 contract
Rental. Beginning on Lessee shall pay to Lessor, at the Xxxxx Town Xxxx, 432 Fifth Avenue, Lyons, Colorado, or such other place as Lessor may designate in writing, the sum of three thousand three hundred dollars (“Rent Commencement Date”$3,300.00) per tract per year (total of $6,600.00 per year), Tenant agrees to pay Landlord (or its Agent as directed by Landlord)be paid in annual installments commencing on February 1, without notice, demand, deduction or set off, an annual rental of $ , 2016 and due and payable in equal monthly installments of $ , in advance on the first day of February of each calendar month year thereafter during the term hereof. Upon execution of this LeaseAgreement. In connection with any renewal of this Agreement pursuant to Section 3.2, Tenant Lessor shall pay have the right to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, increase the annual rental payable hereunder (and accordingly due under this Agreement in accordance with increases in the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal cost of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary living as determined by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All all Urban Consumers” , [Denver-Boulder-Greeley, Colorado] (All items; 1982-84 = equals 100) published issued by the Bureau of Labor Statistics of the United States Department of Labor, Bureau of Labor Statistics, or any successor agency of the United States that issues such indexes or any successor index (hereinafter the “CPI”) of Labor Statistics. Whether there has been an increase in the cost of living shall be determined initially by comparing the CPI published most recently in time before February 1, 2016 and comparing that with the CPI published most recently in time before February 1, 2019 (the first month of the renewal term). Any percentage increase in the CPI calculated as provided above shall constitute an increase in the cost of living and Lessor shall have the right to increase the rental amount in accordance with such percentage increase in the cost of living, provided however for the immediately preceding twelve (12) month period over the amount then payable hereunder. If this box is checked, any such increase Lessor shall not increase the annual rental payable hereunder amount more than ten percent (and accordingly 10%) regardless of the monthly installments) increase in the cost of living. If there is a decrease in the cost of living however, there shall not be a decrease in the rent. If Lessor desires to increase the rent in accordance with the foregoing for each renewal term of the lease, Lessor shall provide written notice of such increase on or before January 15, 2019. The written notice to Lessee of such increase shall include copies of the CPI data used by Lessor to determine the increase. If notice is not given by such date, then there shall be adjusted every no increase for the renewal of the lease term. If the CPI is discontinued, Lessor will designate an alternative comparable index to be used in calculating the increase in the basic rental under this box is checkedLease, Tenant subject to the approval of Lessee, which shall pay all rental to Landlord’s Agent at the following address:not unreasonably withhold its approval.
Appears in 1 contract
Samples: Lease Agreement
Rental. Beginning (a) The Base Rent applicable to the Existing Premises and the Second Expansion Premises is set forth in Section 1.G of the Original Lease, Section 4 of the First Amendment and Section 4 of the Fourth Amendment, respectively.
(b) Subject to Paragraph 3(d) below, effective as of the Third Expansion Effective Date, Base Rent for the Third Expansion Premises shall initially be $402,509.04 per year (based on (“Rent Commencement Date”$17.00 per year per rentable square foot of the Third Expansion Premises), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ $33,542.42 (plus applicable sales tax). Effective as of the first day of the second 5th Floor Lease Year (as defined below), in advance and on the first day of each calendar month during 5th Floor Lease Year thereafter (the term hereof. Upon execution “Adjustment Dates”), rate of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month Base Rent per rentable square foot per year shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to increased during the term of the Lease so renewedby $0.95 over the rate payable for the 5th Floor Lease Year immediately preceding each such Adjustment Date. Notwithstanding anything contained in the Lease to the contrary, or If this box is checked, Tenant shall not be required to prepay any portion of the annual rental payable hereunder (and accordingly Rent for the monthly installments) Third Expansion Premises. A 5th Floor Lease Year shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding each twelve (12) month period over beginning on the amount then payable hereunder. If this box Third Expansion Effective Date; provided, however, if the Third Expansion Effective Date is checkednot the first day of a calendar month, the annual rental payable hereunder first 5th Floor Lease Year shall commence on the Third Expansion Effective Date and end on the last day of the 12th calendar month thereafter and the second and each succeeding 5th Floor Lease Year shall commence on anniversaries of the first day of the calendar month immediately following the calendar month in which the Third Expansion Effective Date occurs. The final 5th Floor Lease Year shall end on the Extended Expiration Date.
(c) Tenant’s Share of Expenses and accordingly Taxes for the Existing Premises shall be as set forth in Article 4 of the Original Lease (as modified by the First Amendment and the Fourth Amendment). Commencing on the Third Expansion Effective Date, Tenant will pay Tenant’s Share (as set forth in Paragraph 2(c)(ii) above) of Expenses and Taxes with respect to the Third Expansion Premises as set forth in Article 4 of the Original Lease.
(d) Notwithstanding the provisions contained above in Paragraph 3(b) above, Tenant will have the right to occupy the Third Expansion Premises for the first 180 consecutive calendar days of the Lease Term for the Third Expansion Premises (or, if the actual Third Expansion Effective Date is the first day of a calendar month, then for the first six calendar months of the Lease Term for the Third Expansion Premises) beginning on the Third Expansion Effective Date (the “Third Expansion Abatement Period”) without the payment or accrual of liability for the monthly installmentsinstallments of Base Rent provided for in this Amendment for the Third Expansion Premises falling due during the Third Expansion Abatement Period, but with the accrual of and full liability for one hundred percent (100%) of all other obligations and payments required during the Third Expansion Abatement Period (including, without limitation, Tenant’s Share of Taxes and Expenses for the Third Expansion Premises). Tenant’s obligation to make payments of Base Rent with respect to the Third Expansion Premises after the end of the Third Expansion Abatement Period will commence immediately after the termination of the Third Expansion Abatement Period, and such appropriate amounts will be due and payable on the first day after the end of the Third Expansion Abatement Period. Notwithstanding the foregoing, Landlord and Tenant hereby agree that the maximum amount of the Base Rent abated under this Paragraph 3(d) shall be adjusted every $201,254.52 (the “Full Abatement Amount”), and that the Full Abatement Amount is subject to reduction by Tenant pursuant to Section 1.13 of the Work Letter. If this box the Full Abatement Amount is checkedso reduced, the Third Expansion Abatement Period shall be shortened by the appropriate period to reflect such reduction in the Full Abatement Amount. In addition to the foregoing, Landlord and Tenant hereby agree that in the event the Fourth Amendment is terminated pursuant to its terms and the expiration date of the Lease Term for the Third Expansion Premises is the Expiration Date set forth in the Original Lease rather than the Extended Expiration Date as contemplated herein, then the Full Abatement Amount shall pay all rental be reduced proportionately and the Third Expansion Abatement Period would also be shortened by the appropriate period to Landlord’s Agent at reflect such reduction (as an example only of the following address:foregoing, if the Lease Term for the Third Expansion Premises expiring on the Extended Expiration Date would consist of 103 months but if the Lease Term for the Third Expansion Premises, as shortened due to a termination of the Fourth Amendment, would consist of 64 months, then the Full Abatement Amount would be $125,059.55 ($201,254.52 x 64/103 (or 62.14%)).
Appears in 1 contract
Samples: Office Lease (New Relic Inc)
Rental. Beginning on June 01, 2007 (“"Rent Commencement Date”"), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ $18 , 000 , payable in equal monthly installments of $ 1500.00, in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If x if this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every everyDne Lease Year Anniversary by 4% over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or STANDARD FORM 592 - T North Carolina Association of REALTORS®, Inc. gr 7/2006 RealFA$T® Software, 02007, Version 6 17 Beta. Software Registered to: Office Manager, Highlaid Realty & Development Tenant(s) 05117/07 16:00:10 q If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every everyn/a Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period $ n/a over the amount then payable hereunder. If In the event renewal of this box Lease is checkedprovided for in paragraph 2 hereof and effectively exercised by Tenant, the annual rental payable hereunder (and accordingly adjustments provided herein shall apply to the monthly installments) shall be adjusted every term of the Lease so renewed, x If this box is checked, Tenant shall pay all rental to Landlord’s 's Agent at the following address:: Highland Realty & Development, Ltd. 00000 Xxxxxxxx Xxxx Suite 116 Charlotte NC 28226
Appears in 1 contract
Samples: Commercial Lease Agreement (Anchor Funding Services, Inc.)
Rental. Beginning on (“Rent Commencement Date”), Tenant Xxxxxx agrees to pay Landlord (or its Agent as directed by LandlordXxxxxxxx), without notice, demand, deduction or set off, an annual rental of $ , payable in equal monthly installments of $ , in advance on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first monthly installment of rent due hereunder. Rental for any period during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. ❑ If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph Section 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or ❑ If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period over the amount then payable hereunder. ❑ If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by $ over the amount then payable hereunder. In the event renewal of this Lease is provided for in Section 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed. ❑ If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted as provided on Exhibit B. ❑ If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:
Appears in 1 contract
Samples: Commercial Lease Agreement
Rental. Beginning on (“Rent Commencement Date”)a) As rental for the Leased Premises, Tenant agrees to pay Landlord (or its Agent as directed by to Landlord), without notice, demand, deduction offset or set offabatement, an the annual base rental of $ described below, due and payable in equal monthly installments of $ , in advance on or before the first day of each calendar month during beginning on the term hereofCommencement Date and thereafter for the remainder of the term, together with any other additional rental as hereinafter set forth. Upon execution Rental payments not received by Landlord within five (5) calendar days of the due date thereof shall be subject to a late charge due and payable by Tenant to Landlord on the sixth (6th) calendar day after the due date thereof in an amount equal to ten (10%) percent of such past due rental, together with interest upon the past due rental payments at the rate of twelve percent (12.0%) per annum from the due date thereof until paid. If the Commencement Date of this Lease, Tenant Lease shall pay to Landlord be a date other than the first monthly installment day of a calendar month, applicable rent due hereunder. Rental for any period during the term hereof which is less than one such month shall be prorated on a daily basis, based on the pro-rated portion number of days in such month.
(b) The "base rental" for each lease year shall be _Sixteen thousand four hundred & sixty one and No/100ths ($16,461.00J. The first "leasT14 e year" shall commence on the Commencement Date and end on the day before the first anniversary of the monthly installment Commencement Date (provided that if the Commencement Date is not the first day of rental due, based upon a 30 day calendar month. If this box is checked, the annual rental payable hereunder (and accordingly first "lease year" shall end on the monthly installments) last day of the calendar month in which the first anniversary of the Commencement Date occurs). Each subsequent "lease year" shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index for All Urban Consumers” (1982-84 = 100) published by the Bureau of Labor Statistics of the United States Department of Labor (“CPI”) for the immediately preceding twelve (12) month period commencing on the day after the last day of the first lease year and the subsequent anniversaries thereof. Beginning on the first anniversary of the Commencement Date and on each succeeding anniversary date thereafter, the "Base Rental" for each lease year shall automatically increase by an amount equal to three percent L3 %) over the amount then payable hereunderpreceding year's base rental. If this box is checked, the annual rental payable hereunder (and accordingly the The monthly installments) rent shall be adjusted every If this box is checked, Tenant shall pay all rental to Landlord’s Agent at the following address:$1371.75 .
Appears in 1 contract
Rental. Beginning on The Lessee shall pay annual rent of Seven Hundred Eighty Five Thousand Two Hundred Ninety Two Dollars (“Rent Commencement Date”$785,292.00), Tenant agrees to pay Landlord (or its Agent as directed by Landlord), without notice, demand, deduction or set off, an annual rental of $ , payable in equal and successive monthly installments of $ , in advance of Sixty Five Thousand Four Hundred Forty One Dollars ($65,441.00), beginning with the Commencement Date and continuing thereafter on the first day of each calendar month during the term hereof. Upon execution of this Lease, Tenant shall pay such rental payments to Landlord the first monthly installment of be made without any setoff or deduction whatsoever. The annual rent due hereunder. Rental for any period during the term hereof which is less than one month stated herein shall be increased beginning with the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder second (and accordingly the monthly installments2nd) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term year of the Lease so renewedterm and each and every year thereafter in order to reflect the greater of (a) three percent (3%) annual increase, or If this box is checked, (b) an annual increase equal to the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) in the numerical index of the “Consumer Price Index — All Items for All Urban Consumers” (1982-84 = 100) the United States published by the Bureau of Labor Statistics of the United States Department of Labor, Bureau of Labor Statistics (the “CPIIndex”). In order to calculate the increase in the Index, the following shall be used: The yearly rent payable beginning with the twelfth (12th) month of this Lease term shall be adjusted by multiplying it by a fraction (the “Fraction”); the numerator of which is the Index for the immediately preceding twelve (12) month period over in which the change in rental is to be computed, and the denominator of which is the Index for the month in which the Commencement Date occurred. As soon as the Index has been determined for the month in which an increase is to occur and a new Fraction established, Lessor shall give Lessee notice of the new Fraction and the amount then payable hereunderof the new rental payment. If this box any months have elapsed since the effective date of such increase, Lessee shall promptly pay Lessor the difference between the new rentals due for such months and the rentals previously paid for such months. If the method of calculating the Index is checkedchanged hereafter, the annual rental payable hereunder Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Lease, such other governmental index or computation with which it is replaced (and accordingly the monthly installmentsor a comparable private index if no governmental index exists) shall be adjusted every If this box is checked, Tenant shall pay all rental used in order to Landlord’s Agent at obtain substantially the following address:same result as would be obtained if the Index had not been discontinued or revised.
Appears in 1 contract
Rental. Beginning on (“Rent Commencement Date”a) The rental for the first Lease Year shall be $43,543.50 per year (or $3,628.63 per month), Tenant agrees hereinafter referred to pay Landlord (or its Agent as directed by Landlordthe “Base Rental,” which annual Base Rental shall be increased as hereinbelow provided in Subparagraph 3(b), without notice, demand, deduction or set off, an annual rental of $ , . Base Rental shall be payable in equal monthly installments of $ , in advance on the first day of each every calendar month during the term hereof. Upon execution of this Lease, Tenant Lease and shall pay be increased from time to Landlord time pursuant to the provisions of Subparagraph 3(b) below. The first monthly installment payment of rent Base Rental shall be due hereunder. on the Rental for any period Commencement Date.
(b) The Base Rental shall be increased after the end of each Lease Year during the term hereof which is less than one month shall be the pro-rated portion of the monthly installment of rental due, based upon a 30 day month. If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by % over the amount then payable hereunder. In the event renewal of this Lease is provided for in paragraph 2 hereof and effectively exercised by Tenant, the rental adjustments provided herein shall apply to the term of the Lease so renewed, or If this box is checked, the annual rental payable hereunder (and accordingly the monthly installments) shall be adjusted every Lease Year Anniversary by the greater of: (i) percent ( %) over the amount then payable hereunder, or, (ii) the percentage increase (but not any decrease) accordance with increases in the numerical index of the “Consumer Price Index (hereinafter called the “Price Index”). The Price Index shall mean the “U.S. City Average for All Urban ConsumersWage Earners and Clerical Workers, all items, groups, subgroups and special groups if items” (1982-84 = 100) published as promulgated by the Bureau of Labor Statistics of the United States U.S. Department of Labor Labor, using the years 1982-1984 as a base of 100. The Base Rental shall be increased in accordance with the following provisions:
(“CPI”1) At the beginning of the second Lease Year and of each Lease Year thereafter, the Base Rental shall be increased by an amount determined by multiplying the Base Rental for a previous Lease Year by the immediately preceding twelve percentage increase in the Price Index from the first month of the previous Lease Year to the first month of the new Lease Year, provided that in no event shall the increase provided for hereby be less than 3% per year nor more than 5% per year.
(122) The Lessor will notify the Lessee as soon as computation of the adjusted Base Rental has been made, which shall be no later than ninety (90) days after the commencement of a Lease Year. The adjusted Base Rental shall be due from the first month period over of the Lease Year in which it applies, and the adjusted Base Rental for those months for which it was owed before Lessee is notified of the amount then payable hereunderthereof shall be paid with the first Base Rental payment made after Lessee has received the notice of the adjustment. If this box is checked, the annual rental payable hereunder (All dates and accordingly the monthly installments) rents shall be adjusted every If to reflect the beginning of the initial “Lease Year” and will be incorporated into the Lease Modification Agreement provided for in Section 2(a) of this box is checkedLease Agreement. The Lessee will pay the foregoing rent to 0000 XXXXXXXX ASSOCIATES, Tenant shall pay all rental L.L.C., Post Office Box 1066, 00 Xxxxx Xxxx Xxxxxx, Xxxxxxxxx, Xxxxx Xxxxxxxx 00000-0000, or to Landlord’s Agent such other person or at such other place as the following address:Lessor may designate in writing. 4. MAINTENANCE RESPONSIBILITIES.
Appears in 1 contract
Samples: Lease (BNC Bancorp)