Common use of Rental Clause in Contracts

Rental. Lessee agrees to pay to Lessor rent (“Ground Lease Rent”) in the initial amount of $5.00 per month, subject to adjustment from time to time as provided below, payable in advance on the first day of each and every month during the term of this Lease commencing with the first day of the first month following the commencement of the term hereof; PROVIDED, HOWEVER, Lessee's payment to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of America.

Appears in 3 contracts

Samples: Joint Purchase Agreement, Joint Purchase Agreement, Joint Purchase Agreement

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Rental. Lessee agrees to pay to Lessor rent (“Ground Lease a) Fixed Base Rent”) in the initial amount of $5.00 per month, subject to adjustment from time to time as provided belowSupplemental Fixed Base Rent, payable in advance on the first day of each Percentage Rent, Transaction Rent and every month during the term of PILOT are all deemed Rental under this Lease commencing with payable to Lessor. Rental shall be paid by wire transfer, certified check, bank cashier’s check or money order payable to the first day order of the first month following the commencement of the term hereof; PROVIDEDXxxxxx River Park Trust, HOWEVER, Lessee's payment to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, or such other person as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment designated by the Lessor, and drawn on an account at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) a bank that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation is a member of the property in New York Clearing House Association (or any successor body of similar function) or a bank which Lessee has an interest by virtue office in New York City and which is a member of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether check clearing association or not similar to the foregoing. All rentals hereunder system in use by money center banks in New York City and late charges thereon shall be payable in lawful money currency which at the time of payment is legal tender for public or private debts in the United States of America. If paid by wire transfer, payment shall be transferred to an account designated by Lessor by notice to Lessee and if paid by check, shall be mailed or delivered to the office of the Xxxxxx River Park Trust at Pier 00, 000 Xxxx Xxxxxx, 0xx Xxxxx, Xxx Xxxx, XX 00000 or at such other place as Lessor shall direct by notice to Lessee. The annual Fixed Base Rent due for any period of less than a full twelve-month period, and any installment of the Fixed Base Rent due for any period of less than a full month, and semi-annual PILOT payment due for any period less than six months, shall be appropriately apportioned. For any installment of Rental that is not received by Lessor on its due date, Lessee shall pay interest at the Applicable Rate on the overdue amount until the date of the payment. (b) Any Impositions payable to Lessor and any other payments required to be made by Lessee to Lessor shall constitute Rental under this Lease and shall be payable to and in the form required by the entity imposing such Imposition. Except as expressly set forth herein. Rental shall be absolutely net to Lessor without any abatement, deduction, counterclaim, set-off or offset whatsoever and Lessee shall pay all costs, expenses and charges of every kind and nature relating to the Premises except as expressly set forth to the contrary in this Lease, provided that the foregoing shall not require Lessee to pay any costs or expenses of Lessor relating to Lessor’s consents of approvals, unless specifically provided for in this Lease. IMPOSITIONS‌ Section 4.1. Lessee shall pay, as hereinafter provided, all of the following items Section 4.2. Notwithstanding anything to the contrary contained in this Article or Section 4.3. Xxxxxx, from time to time, but no later than thirty (30) days after the date Section 4.4. Any Imposition payable by Lessee hereunder relating to a period a part of Section 4.5. Lessee shall have the right to contest the amount or validity, in whole or in (a) neither the Premises nor any part thereof, or interest of Xxxxxx therein, would, by reason of such postponement or deferment, be, in the reasonable judgment of Xxxxxx, in imminent danger of being forfeited or lost and neither Lessor nor Lessee would by reason thereof be subject to any criminal liability or penalty, or civil liability or penalty in excess of the amount for which Xxxxxx has furnished security as provided in paragraph (b) below; and (b) Lessee shall have deposited with Depository cash or other security reasonably satisfactory to Lessor in the amount so contested and unpaid, together with all interest and penalties in connection therewith and all charges that may or might be assessed against or become a charge on the Premises or any part thereof in such proceedings. If at any time during the continuance of such proceedings Lessor, in its sole reasonable discretion, shall deem insufficient the amount or nature of any security delivered by Lessee with Depository as security for Xxxxxx’s obligation to pay any such postponed or deferred Imposition, Lessee shall deliver to the Depository such additional security, satisfactory to Lessor, in Lessor’s sole reasonable discretion, as Lessor may request. If Lessee shall fail to deliver to Lessor such additional collateral security within ten (10) days after Lessor’s demand therefor, Lessor may direct the Depository to apply the proceeds of the security held by the Depository to the payment, removal and discharge of any such deferred or postponed Imposition and the interest and penalties in connection therewith and any costs, fees (including, without limitation, court costs and attorney’s fees and disbursements) or other liability accruing in any such proceedings and the balance, if any, remaining after application by Depository as aforesaid, together with the interest, if any, earned thereon, shall be returned to Lessee or to the Person entitled to receive it. Lessee shall remain liable for any unpaid balance of such Imposition remaining after payment by the Depository as aforesaid, and Lessee shall pay the balance to Lessor or the Person entitled to receive it, within ten (10) days after Lessor’s demand. Upon the termination of such proceedings, it shall be the obligation of Lessee to pay the amount of such Imposition or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorney’s fees and disbursements), interest, penalties or other liabilities that such proceedings determine are payable by Lessee or with respect to the Premises, and upon such payment, Depository shall return, with interest, if any, any amount deposited with it as aforesaid; provided, however, that any agreement between Lessee and the Depository shall require that Depository, at Xxxxxx’s request or, upon Xxxxxx’s failure to do so in a timely manner, at Lessor’s request, shall disburse said moneys on deposit with it directly to the Governmental Authority to whom such Imposition is payable and any remaining monies, with interest, if any, shall be returned promptly to Lessee. If, at any time during the continuance of such proceedings, Lessor, in its reasonable opinion, deems insufficient the amount deposited as aforesaid, Lessee, within fifteen

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Rental. Lessee (a) LESSEE covenants and agrees to pay during the Lease Term and any extended term, to Lessor LESSOR, without any setoff or deduction whatsoever (except as expressly provided for herein), the Base Rental and all such other sums of money as shall become due hereunder as additional rent (“Ground Lease Rent”) all of which are sometimes herein collectively called rent"), for the nonpayment of which LESSOR shall be entitled to exercise all such rights and remedies as are herein provided in the initial amount case of $5.00 per monththe nonpayment of Base Rental, subject the Base Rental payable during each calendar year or portion thereof during the Lease Term, as increased pursuant to adjustment from time to time as provided subparagraph (c) below, shall be due and payable in advance twelve (12) equal installments on the first day of each calendar month during the initial form of this Lease and every any extensions or renewals thereof, and LESSEE hereby agrees to pay such Base Rental and any adjustments thereto to LESSOR at LESSOR'S address provided herein (or such other address as may be designated by LESSOR in writing from time to time) LESSEE agrees to pay all such sums in advance, and without notice or demand. If the Lease term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated based on the number of days in such month. (b) LESSEE shall pay all sales and use taxes levied or assessed against all rent payments due under this Lease simultaneously with each payment required hereunder. (c) LESSEE shall pay the monthly installments of the Base Rental as same come due through the end of the Short Lease Term, and thereafter during the initial Full Lease Term and the extended term, if any. (d) Time shall be of the essence in respect of the payment of all rent. (e) To Insure prompt payments of rent to the LESSOR, the LESSEE hereby agrees that should the LESSEE not pay rental due for a particular month by the seventh (7th) of that month, the LESSEE shall pay to the LESSOR a $ 100.00 late fee for that month in which he did not pay rent timely. It is reiterated here that monthly rental is payable a advance on the first (1st) day of each month during the term of this Lease commencing with the first day of the first month following the commencement of the term hereof; PROVIDED, HOWEVER, Lessee's payment to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of Americalease.

Appears in 1 contract

Samples: Lease Agreement (Panamerican Bancorp)

Rental. Lessee agrees to (a) Tenant shall pay to Lessor rent (“Ground Landlord throughout the term of this Lease Rent”) as rental for the Premises the sum specified in the initial amount Basic Lease Information as the Base Rent. As additional rental hereunder, Tenant shall pay to Landlord the additional charges described in paragraph 4 below. (b) Monthly rental shall be paid to Landlord on or before the first day of $5.00 per month, subject to adjustment from time to time as provided below, payable in advance the term hereof and on or before the first day of each and every successive calendar month thereafter during the term hereof. In the event the term of this Lease commencing with commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, the monthly rental for the first month following the commencement and last fractional months of the term hereof; PROVIDEDhereof shall be appropriately prorated. (c) All sums of money due from Tenant hereunder not specifically characterized as rental shall constitute additional rent, HOWEVERand if any such sum is not paid when due it shall nonetheless be collectible as additional rent with the next installment of rental thereafter falling due, Lessee's but nothing contained herein shall be deemed to suspend or delay the payment of any sum of money at the time it becomes due and payable hereunder, or to limit any other remedy of Landlord. (d) Tenant hereby acknowledges that late payment by Tenant to Landlord of rent and other sums due hereunder after the expiration of any applicable grace period described in paragraph 19 (a) will cause Landlord to incur costs not contemplated by this Lease, the exact amounts of which will be difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any encumbrances covering the Building and the Premises. Accordingly, if any installment of rent or any other sums due from Tenant shall not be received by Landlord prior to the Association expiration of any applicable grace period described in paragraph 19 (a), Tenant shall pay to Landlord a monthly ground rent assessment pursuant late charge equal to the provisions five percent (5%) of Article VII such overdue amount. The parties hereby agree that such late charge represents a fair and Article XXI reasonable estimate of the CC&Rscosts Landlord will incur by reason of late payment by Tenant based on the circumstances existing as of the date of this Lease. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, in nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (e) Any amount due from Tenant, if not paid when first due, shall bear interest from the date first due until paid at an amount annual rate equal to Lessee's monthly rent hereunder4% over the annual prime rate of interest announced publicly by Citibank, shallN.A. in New York, as between Lessee and Lessor, constitute payment New York from time to time (but in no event in excess of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment maximum rate of interest permitted by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Serieslaw), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that interest shall not be payable on late charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant to the extent such interest would cause the total interest to be in no event excess of that legally permitted. Payment of interest shall the rent not excuse or cure any default hereunder be so increased more than 12% for any one year. by Tenant. (f) All rent payable hereunder payments due from Tenant shall be paid to Landlord, without setoffdeduction or offset, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of AmericaAmerica at Landlord's address for notices hereunder, or to such other person or at such other place as Landlord may from time to time designate by notice to Tenant.

Appears in 1 contract

Samples: Office Lease (Redenvelope Inc)

Rental. Lessee (a) Tenant covenants and agrees to pay to Lessor rent (Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the Base Rental, and all such other sums of money as shall become due hereunder as additional rent, all of which are sometimes herein collectively called Ground Lease Rent”) rent.” In the event of nonpayment of any rent, Landlord shall be entitled to exercise all such rights and remedies as are herein provided in the initial amount case of $5.00 per monththe nonpayment of Base Rental. Except as otherwise provided herein, subject the annual Base Rental for each calendar year or portion thereof during the Lease Term, together with Tenant’s Pro Rata Share of any Excess Basic Costs payable pursuant to adjustment from time to time as provided belowExhibit “C” hereof, shall be due and payable in advance in twelve (12) equal installments on the first day of each and every calendar month during the term initial Term of this Lease commencing with and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rental and any adjustments thereto to Landlord at Landlord’s address provided herein (or such other address as may be designated by Landlord in writing from time-to-time) monthly, in advance, and without notice or demand. If the Term of this Lease commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustment thereto for such month or months shall be prorated, based on the number of days in such month. The Base Rental for the first month following partial month, if any, shall be payable at the commencement beginning of said period. All such payments shall be by a good and sufficient check (subject to collection) drawn on a bank reasonably acceptable to Landlord. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of rent due under this Lease shall be deemed to be other than a payment on account of the term hereof; PROVIDEDearliest rent due hereunder, HOWEVERnor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, Lessee's and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance or pursue any other remedy provided by this Lease or applicable law. The acceptance by Landlord of an installment of rent on a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. If Tenant fails to timely pay any three (3) installments of rent, Landlord at its sole option may (i) require Tenant to pay rent (as estimated by Landlord, if necessary) quarterly in advance, and, in such event, all future payments shall be made on or before the due date in cash or by cashier’s check or money order, and the delivery of Tenant’s collectible personal or corporate check shall no longer constitute payment thereof, or (ii) Landlord. may require that Tenant deposit an additional Security Deposit equal to three (3) months rent, from which Landlord, at his or her sole discretion, may satisfy any future late payments made by Tenant, and Tenant shall be required to maintain such additional Security Deposit levels throughout the remaining Term as described in subsection (ii) above, then Tenant shall have five (5) days to deposit such additional Security Deposit as required above. Nothing in this section shall relieve Tenant from its duties to pay Late Charges (as defined below). Any acceptance of Tenant’s collectible personal or corporate check thereafter by Landlord shall not be construed as a waiver of the requirement that such payments be made in cash or by cashier’s check or money order. All amounts received by Landlord from Tenant hereunder shall be applied first to the Association earliest accrued and unpaid rent then outstanding. (b) To the extent allowed by law, all installments of rent not paid when due shall bear interest at the Default Rate from the date due until paid; and, in addition, all installments of rent not paid within seven (7) days of when due and payable shall incur a Late Charge equal to five percent (5%) of the outstanding balance due, provided, Landlord shall not impose a late charge for the first late payment in any calendar year unless Tenant shall fail to pay such late installment within seven (7) days of written notice from Landlord of non-payment. (c) In addition to Base Rental payable hereunder, commencing January 1, 1999 for the Premises and September 23, 2000 for the Expansion Space, Tenant shall pay monthly ground as additional rent assessment pursuant to Tenant’s Pro Rata Share of the Excess Basic Costs over the Base Year Basic Costs in accordance with the provisions of Article VII Exhibit “C” attached hereto and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent incorporated herein for the applicable period. The monthly rent payable hereunder shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of Americaall purposes.

Appears in 1 contract

Samples: Office Lease Agreement (Borland Software Corp)

Rental. Lessee Section 5.01 Tenant covenants and agrees to pay to Lessor rent (“Ground Lease Rent”) Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental specified in the initial amount of $5.00 per month, subject to adjustment from time to time as provided belowBasic Lease Information, payable monthly in advance advance, without notice or demand, on the first day of each and every month during calendar month. In the term event of this any late payments, Tenant agrees to pay a late charge for special handling equal to 5% of the Rental due Rental shall be paid to Landlord, without deduction or offset, at the address of Landlord specified in the Basic Lease commencing with Information or such other place as Landlord may designate in writing. The first monthly installment of Rental shall be paid on the Commencement Date, except that if Commencement Date is a date other than the first day of a calendar month, then the monthly Rental for the first month following the commencement and last fractional months of the Term shall be appropriately prorated. The term "Rental" as used herein means the sum of Annual Base Rental, Proportionate Share of Operating Expense Excess (as defined in Section 6.01), Parking Rental (as defined in EXHIBIT D hereof; PROVIDED) and all other sums, HOWEVERwhether or not expressly denominated as rent, Lessee's payment shall constitute Rental for the purposes of Section 502(b)(7) of the Bankruptcy Code U.S.C. 502(b)(7). A service charge of 10% of the amount of any checks returned stamped "NSF" will be due and payable, in addition to the Association overdue installments to cover Landlord's extra cost and expense in handling and processing. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly ground rent assessment pursuant installment due under this Lease shall be deemed to the provisions of Article VII and Article XXI be other than on account of the CC&Rs, in an amount equal to Lessee's monthly rent earliest Rental due hereunder, shall, nor shall any endorsement or statement on any check or payment as between Lessee Rental be deemed an accord and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionmentsatisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the obligations balance of Lessee hereunder shall not be released, discharged such Rental or otherwise affected pursue any other remedy provided in this Lease or by damage or destruction or condemnation law. Section 5.02 Upon the first anniversary of the property in which Lessee has an interest by virtue Commencement Date of this Lease, or termination of this Lease for any reason other than default of Lessorand upon each and every anniversary date thereafter, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon then current Annual Base Rental shall be payable increased by the Annual Base Rental Rate Increase (cumulative) as specified in lawful money of the United States of AmericaBasic Lease Information.

Appears in 1 contract

Samples: Office Lease Agreement (Select Medical Holdings Corp)

Rental. Lessee (a) Tenant covenants and agrees to pay to Lessor rent (“Ground Lease Landlord the Fixed Rent”) , from and after the Commencement Date for the Base Building and the Initial Mezzanine Area and from and after the Subsequent Mezzanine Area Commencement Date for the Subsequent Mezzanine Area respectively, in advance, in equal monthly installments on or before the initial amount first business day of $5.00 per montheach calendar month during the Term, subject provided, however, notwithstanding anything to adjustment from time the contrary contained in this lease, in no event shall Fixed Rent be due or payable prior to time as provided belowMarch 1, payable in advance on 1998. If the Commencement Dates for the Base Building and the Initial Mezzanine Area and/or the Subsequent Mezzanine Area shall be other than the first day of each a month, the Monthly Fixed Rent therefor shall be paid on the applicable Commencement Date and every month during the term of this Lease commencing with on the first business day of the first last month following the commencement of the term Term on a pro rata basis for the fractional part of the month between the date same is due and the last day of said month or the Termination Date, as the case may be. Notwithstanding anything to the contrary contained in this lease, Tenant shall have no obligation to pay Fixed Rent until such time as Landlord causes the Delivery of Possession of the Base Building and the Initial Mezzanine Area or the Subsequent Mezzanine Area in accordance with subparagraphs 3(a), 3(b), 3(c), 3(g) and 3(m) hereof; PROVIDED. (b) (Intentionally Omitted) (c) All charges, HOWEVERincluding Taxes as defined in Paragraph 19, Lessee's other than Fixed Rent payable pursuant to this lease herein are called "Additional Rental." All payments of Additional Rental, except as otherwise provided herein, shall be due and payable to Landlord in the same manner as is set forth in subparagraph 5(a) on the first business day of the calendar month or thirty (30) days following demand therefor, whichever shall later occur. (d) The Fixed Rent and Additional Rental herein are referred to collectively as "Rental". All Rental payments shall be paid to Landlord at the address above designated or to such other place as Landlord may designate, without any prior notice or demand therefor and without any deduction, abatement or setoff, except as otherwise provided in this lease. (e) If any payment of Rental due hereunder shall be overdue for at least five (5) days, a "late charge" may be charged at the rate of one and one-half percent (1-1/2%) per month on any Rental which is overdue, computed from the due date until payment thereof, provided however, that such late charge may not be imposed for the first three (3) times during any twelve (12) month period in which any payment of Rental is late, unless Landlord shall not have received such Rental payment within forty-eight (48) hours following delivery of notice to Tenant of such non-payment. This charge shall be in addition to and not in lieu of any other remedy Landlord may have under the circumstances and is in addition to any charge by Landlord to Tenant for reasonable fees and charges of any agents or attorneys Landlord may employ as a result of any default in the payment of Rental hereunder whether authorized herein or by law. Any such "late charge", if not previously paid, at the option of Landlord, shall be added to and shall become part of the succeeding Rental payment to be made hereunder and shall be deemed to constitute Additional Rental. (f) It is the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI intention of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for parties hereto that the applicable period. The monthly rent Fixed Rent payable hereunder shall be subject absolutely net to adjustment by Landlord, so that this lease shall yield to Landlord the Lessorannual Fixed Rent specified herein during the Term, at Lessor's discretionand that all costs, based on expenses and in direct proportion obligations of every kind and nature whatsoever relating to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder Premises shall be paid without setoffby Tenant, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or except as otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease specifically provided for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of Americaherein.

Appears in 1 contract

Samples: Lease Agreement (Di Giorgio Corp)

Rental. Lessee agrees to pay to Lessor rent an annual base rental in monthly installments as set forth in the Special Stipulations attached hereto (the Ground Lease Base Rent”), together with a monthly payment for Operating Expenses (as set forth in Section 9 below) and a monthly payment for Taxes and Premiums (as set forth in the initial amount of $5.00 per monthSection 5 below), subject to adjustment from time to time as provided below, payable in advance without deduction or setoff. Payments of Operating Expenses and Taxes and Premiums shall commence on the date which is ninety (90) days after the date of the Commencement Date and payments of Base Rent shall commence on the date which is one hundred fifty (150) days after the Commencement Date. The monthly payment of Base Rent, Operating Expenses, and/or Taxes and Premiums payable hereunder shall hereinafter be referred to collectively as a “Monthly Rent Payment”. In the event the date of the first scheduled payment of Operating Expenses and Taxes and Premiums or Base Rent falls on a date that is not the first day of each and every a calendar month, then the rental for such month during shall be prorated on a daily basis. In addition to any other remedies for nonpayment, if any Monthly Rent Payment is not received by Lessor in full on or before the term of this Lease commencing with the first tenth (10th) day of the first month following for which such Monthly Rent Payment is due, a service charge of five percent (5%) shall be added thereto and such service charge shall be immediately due and payable together with the commencement Monthly Rent Payment. The parties hereto acknowledge and agree that such service charge is compensation for the administrative costs that Lessor will incur in connection with such late payment, and such administrative costs would otherwise be difficult to ascertain, and that such service charge is a reasonable pre-estimate of such charges. In addition, should any Monthly Rent Payment not be received in full by Lessor on or before thirty (30) days after its due date, then, in addition to Lessor’s other rights and remedies, Lessor shall be entitled to, and Lessee shall pay, interest on such overdue amount from the term hereof; PROVIDED, HOWEVER, Lessee's payment date due at a rate equal to the Association lesser of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, twelve percent (12%) per annum or such rate as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment is permitted by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of Americalaw.

Appears in 1 contract

Samples: Standard Industrial Lease (Primerica, Inc.)

Rental. In consideration of the demise and leasing of the Premises aforesaid by said Lessor, the Lessee covenants, stipulates and agrees to pay to Lessor rent (“Ground Lease Rent”) in the initial amount of $5.00 per month, subject to adjustment from time to time as provided belowmonthly rental payments, payable in advance on the first (1st) day of each month, the sum of Eleven Thousand Six Hundred Sixty-Six Dollars and every Sixty-Seven cents ($11,666.67). The rental rate for the initial term of this agreement is $7.00 per square foot. Subsequent adjustments are defined in Section 14 herein. As an additional rental payment for each month during the term of this Lease commencing lease and any renewal thereof, Lessee agrees to pay all real estate taxes assessed on the leased premises. Beginning with the first day monthly rent payment due under this Lease, and continuing thereafter, Lessee shall pay to Lessor 1/12 of its pro-rata share, based upon the of real estate taxes assessed upon the entire Subject Premises. This sum shall be determined by multiplying (a) the real estate taxes levied or assessed upon the entire premises, by (b) a fraction, the numerator of which is the total leasable square footage of the first month following leased premises (20,000) and the commencement denominator of which is the total leasable square footage of the term hereof; PROVIDEDentire property, HOWEVER(122,000 square feet), Lessee's payment to as of January 1. The real estate tax calculation will be based on the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI prior year tax xxxx. If upon receipt of the CC&Rsactual real estate tax xxxx, the amount differs from what Lessee has paid Lessor, then Lessor will either refund any overpayment by Lessee, or Lessor will provide a copy of the current real estate tax xxxx along with the calculation of the additional amount owed by Lessee to Lessor. Lessee will then pay to Lessor this additional amount within ten (10) days of said notification. As a further and additional rent payment for each month during the term of this lease and any renewal thereof, Lessee shall also pay for the cost of fire and extended coverage insurance, insuring the leased premises in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject cost necessary to adjustment by replace it during the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue term of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon which insurance shall be payable in lawful money obtained by Lessor as hereinafter described. Beginning with the first monthly rent payment due under this Lease, and continuing thereafter, Lessee shall pay to Lessor 1/12 of its pro-rata share, based upon the annual insurance premium assessed upon the entire Subject Premises. This sum shall be determined by multiplying (a) the entire annual insurance premium levied or assessed upon the entire premises, by (b) a fraction, the numerator of which is the total leasable square footage of the United States leased premises (20,000) and the denominator of Americawhich is the total leasable square footage of the entire property, (122,000 square feet).

Appears in 1 contract

Samples: Lease (YTB International, Inc.)

Rental. Lessee 4.01 Subject to the adjustments hereinafter provided, Tenant agrees to pay to Lessor base rent of Seventy Thousand Five Hundred Ninety-one Dollars (“Ground Lease Rent”$70,591) in per month lawful money of the initial amount United States of $5.00 per monthAmerica, subject to adjustment from time to time as provided belowfor the Leased Premises, which base rent shall be payable in advance on the first day of each calendar month for the basic term of this Lease, to Landlord at 0000 Xxxxxxx Xxxxx, Fort Worth, Texas 76109, or at such other address as Landlord may hereafter designate. Tenant further agrees that it will deposit with Landlord upon execution hereof an initial rent payment equal to the sum of one (1) month's base rent. Such initial rent payment shall be applied by Landlord toward the initial base rent due under this Lease. In addition, Tenant agrees to pay, as additional rent, such other amounts as required by the terms and every conditions specified in this Lease. Tenant's rent obligation for any fractional portion of a calendar month at the beginning or end of the term of this Lease shall be a similar fraction of the rental due for an entire month. 4.02 As of each Adjustment Date (as hereinafter defined), base rent hereunder shall be adjusted as hereafter provided. 4.03 The base rent shall be subject to adjustment as of third (3rd) anniversary of the Commencement Date, and, provided that Tenant exercises its option to renew the term of this Lease as set forth in Section 3.02 above, as of the commencement date of each renewal term (individually an "Adjustment Date" and collectively the "Adjustment Dates") as follows: (a) On the first Adjustment Date, the base rent shall be adjusted as follows: the base rent shall be adjusted to reflect the increase, if any, in Landlord's cost of funds as of May, 1993 [which was six and 7/10 percent (6.7%)] and Landlord's cost of funds as of the first Adjustment Date. The base rent shall be adjusted upward to reflect the cost of servicing a debt of $7,500,000 given the cost of funds on and as of the dates set forth above. As used in this Section, "Landlord's cost of funds" as of the first Adjustment Date shall mean Landlord's actual cost of funds as of the first Adjustment Date, provided that Landlord shall use best efforts to obtain a favorable interest rate for a loan secured by, or otherwise acquired to service the debt arising from the acquisition by Landlord of, the Building. (b) Base rent shall be adjusted as of each subsequent Adjustment Date by multiplying the base rent as adjusted on the last previous Adjustment Date by 1.1, such that the adjusted base rent shall be 110% of the base rent as adjusted on the last previous Adjustment Date. On or prior to each Adjustment Date, Landlord shall give Tenant written notice indicating the amount of the adjusted base rent and the method of computation thereof. 4.04 This Lease is what is commonly called a "triple net lease", it being the purpose and intent of Landlord and Tenant that the rent payable hereunder shall be net to Landlord, so that this Lease shall yield net to Landlord the base rent specified in this Section 4 in each month during the term of this Lease commencing free and clear of any and all other Impositions (as hereinafter defined), taxes, liens, charges or expenses of any nature whatsoever in connection with the first day ownership and operation of the first month following the commencement Premises. The parties hereto agree that all costs, expenses and charges of the term hereof; PROVIDED, HOWEVER, Lessee's payment every kind and nature relating to the Association of a monthly ground rent assessment pursuant to Leased Premises which may be attributed to, or become due during the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for initial or any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue renewal term of this Lease, shall constitute additional rent to be paid by Tenant and, upon failure of Tenant to pay any such costs, expenses or termination of charges, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay rent. It is the intention of the parties hereto that the Lease shall not be terminable for any reason other than default of Lessorby Tenant and that Tenant shall in no event be entitled to any abatement or reduction in rent payable hereunder, except as expressly provided herein. Any present or any other occurrence whatsoever, whether or not similar future law to the foregoing. All rentals hereunder and late charges thereon contrary shall be payable in lawful money not alter the agreement of the United States of Americaparties.

Appears in 1 contract

Samples: Lease Agreement (Foodbrands America Inc)

Rental. Lessee agrees to a. Tenant shall pay to Lessor rent Landlord throughout the Lease Term a base annual rental of Forty Eight Thousand Six Hundred Fifty Five and no/100 Dollars ($48,655.00) together with all sales, use, transaction, or comparable tax(es) applicable thereto. Said base annual rental (hereinafter referred to as the Ground Lease RentBase Rental”) in the initial amount of $5.00 per month, shall be subject to adjustment as hereinafter provided in this Lease. Base Rental, together with tax(es) payable thereon, shall be due and payable in equal monthly installments of Four Thousand Fifty Four and 58/100 ($4,054.58) in advance, without demand, deduction or setoff, on or before the first day of each calendar month during the Lease Term. However, upon a default by Tenant of any of its obligations hereunder, the Base Rental for the balance of the Lease Term shall be immediately due and payable. If this Lease commences on a day other than the first day of a calendar month, the monthly Base Rental for the fractional month shall be appropriately prorated. b. Tenant recognizes that late payment of any Rent (as hereinafter defined) or other sum due hereunder from Tenant to Landlord will result in administrative expense to Landlord, the extent of which additional expense would be extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if Rent or any other payment due hereunder from Tenant to Landlord remains unpaid five (5) days after the same is due, the amount of such unpaid Rent or other payment shall be increased by a late charge to be paid Landlord by Tenant in an amount equal to five percent (5%) per month of the amount of the delinquent Rent or other payment. The amount of the late charge to be paid to Landlord by Tenant for any particular month shall be computed on the aggregate amount of delinquent Rent and other payments, including all accrued late charges then outstanding. Tenant agrees that such amount is a reasonable estimate of the loss and expense to be suffered by Landlord as a result of such late payment by Tenant and may be charged by Landlord to defray such loss and expense. The terms of this Paragraph in no way relieve Tenant of the obligation to pay Rent or other payments on or before the date on which they are due, nor do the terms of this Paragraph in any way affect Landlord’s remedies pursuant to Paragraph 18 of this Lease in the event said Rent or other payment is unpaid after the date due. c. Rental Commencement Date is the date specified in Paragraph 1(a) hereof for the Commencement Date and subject to the Rent Abatement set forth in Paragraph 2(g) below, is the date upon which the first rental payment hereunder becomes due. d. Landlord will receive monthly from Tenant, in addition to Rent, the equivalent of six percent (6%) of all amounts paid as Rent hereunder, or such other amount as may, from time to time time, be required by law, which sum is paid as sales tax to the State of Florida by Landlord under the Florida Sales Tax Statute. Landlord receives no monetary benefit from the collection and disbursement of sales tax. Should such tax rate change under the Florida Sales Tax Statute or Palm Beach County Ordinance, Landlord will receive monthly from Tenant the amount reflective of appropriate charges. Tenant shall pay Landlord in conjunction with all sums due hereunder, any and all applicable sales, use or other similar tax and any interest or penalties assessed therein (“Sales Tax”) simultaneously with such payment. e. The annual Base Rental payable hereunder for each Lease Year shall adjust on an automatic basis on the first day of the second Lease Year and the first day of each successive Lease Year thereafter, in the following manner: The Base Rental rate provided below, payable for in advance Paragraph 2(a) shall be increased by three percent (3%) over the Base Rental rate of the prior Lease Year on the first day of each succeeding Lease Year of the Lease Term. Escalations shall be prorated when necessary to reflect occupancy for less than one (1) year. f. In addition to the Base Rental, Tenant shall pay without demand, deduction, or setoff as “Additional Rent” all sums of money due from Tenant to Landlord hereunder, except Base Rental, including without limitation sales tax, (which amounts together with Base Rental may collectively be referred to as “Rent” hereunder) Tenant’s Proportionate Share of the Operating Expenses of the Building shall be paid as Additional Rent hereunder. “Tenant’s Proportionate Share” is the amount which is equivalent to the percentage determined by dividing the rentable square feet in the Premises by the total rentable square feet in the Building. Operating Expenses shall mean all expenses of every kind incurred by Landlord with respect to the ownership, management, operation, improvement, promotion and every month maintenance of the Building, the land under the Building, and the Property, including, without limitation, the parking lot, landscaping and appurtenances and any property taxes, insurance premiums, assessments, governmental charges, capital expenses, reserves for repair and replacement, cost of providing security services, costs of providing supervision of the parking facilities and owners’ dues of any kind and nature whatsoever. In the event that during any Lease Year, less than ninety- five (95%) of the Building shall have been occupied by tenants and fully used by them at any time, Operating Expenses shall, during such period in which occupancy was less than ninety-five (95%) percent, be increased to the amount that Operating Expenses would normally be expected to have been incurred had such occupancy attained a minimum of ninety-five (95%) percent and had full utilization been made during the term applicable Lease Year. In addition, if Landlord is not furnishing any particular work or service (the cost of this Lease commencing with the first day which, if performed by Landlord, would constitute an Operating Expense), to a tenant who has undertaken to perform such work or service in-lieu of the first month following performance thereof by Landlord, Operating Expenses in the commencement of the term hereof; PROVIDED, HOWEVER, Lessee's payment applicable Lease Year shall be adjusted to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunderthe Operating Expenses which would reasonably have been incurred during such period by Landlord if Landlord had furnished such work or service to such tenant. On or before the Commencement Date, shalland in each calendar year thereafter during the Lease Term on or before March 1 or as soon thereafter as is reasonably possible, Landlord shall deliver to Tenant a statement setting forth Landlord’s reasonable estimate of the Operating Expenses of the Building for the then current calendar year and Tenant shall pay monthly, as between Lessee Additional Rent, an amount equal to one twelfth (1/12th) of Tenant’s Proportionate Share of the estimated Operating Expenses of the Building. In the event Landlord determines that the estimate of the Operating Expenses is incorrect or insufficient to pay for actual costs, Landlord shall give Tenant notice of such discrepancy and Lessor, constitute the adjustment to the Additional Rent for the balance of the calendar year and the Additional Rent shall be increased or reduced as necessary as of the next monthly payment of said monthly rent Base Rental. On or before March 1 of each calendar year during the Lease Term, or as soon thereafter as is reasonably possible, Landlord shall furnish to Tenant a statement (the “Expense Statement”) which shall set forth the actual Operating Expenses of the Building for the applicable periodprevious calendar year. The monthly rent payable hereunder Landlord agrees to keep true and accurate records in accordance with accepted accounting principles of the Operating Expenses of the Building. After delivery of the Expense Statement, there shall be subject an adjustment between Landlord and Tenant such that after said adjustment Tenant will have paid the actual Additional Rent amount due in accordance with this Paragraph. Payment pursuant to said adjustment by to Landlord or Tenant, as the Lessorcase may be, at Lessor's discretionshall be made within thirty (30) days following delivery of the Expense Statement to Tenant. For any year less than a full calendar year, Tenant’s Operating Expenses shall be prorated based on and in direct proportion to applicable expenses for the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one calendar year. All rent payable hereunder Tenant’s obligation for payment of Additional Rent shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, survive expiration or termination of this Lease for any reason other Lease. No payment by Tenant or receipt by Landlord of an amount less than default of Lessor, the Base Rent or Additional Rent or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder sum due and late charges thereon payable under this Lease shall be payable in lawful money deemed to be other than a payment on account of the United States Base Rent, Additional Rent or other such sum, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, nor preclude Landlord’s right to recover the balance of Americaany amount payable or Landlord’s right to pursue any other remedy provided in this Lease or at law.

Appears in 1 contract

Samples: Office Lease Agreement (Ominto, Inc.)

Rental. Lessee (a) Tenant covenants and agrees to pay during the Lease Term to Lessor Landlord without any setoff or deduction whatsoever, the Base Rental and all such other sums or money as shall become due hereunder as additional rent (“Ground Lease all of which are sometimes herein collectively called "Rent”) "), for the non-payment of which Landlord shall be entitled to exercise all such rights and remedies as are herein provided in the initial amount case of $5.00 per monththe non-payment of Base Rental. The Base Rental payable during each calendar year or portion thereof during the Lease Term, subject as increased pursuant to adjustment from time to time as provided subparagraph (e) below, shall be due and payable in advance twelve (12) equal installments on the first day of each and every calendar month during the initial term of this Lease commencing with and any extensions or renewals thereof and Tenant hereby agrees to pay such Base Rental and any adjustments thereto to Landlord at Landlord's address provided herein (or such other address as may be designated by Landlord in writing from time to time). Tenant agrees to pay all such sums in advance, and without notice or demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the first last day of a month, then the installments of Bass Rental and any adjustments thereto for such month following or months shall be prorated, based on a Thirty (30) day month. (b) Landlord shall have the commencement same rights and remedies with respect to additional rent as with respect to Fixed Annual Rent. The term "Rent" is hereby defined to mean the Fixed Annual Rent and any additional rent or other sums payable by Tenant under this Lease. In the event that any payment due Landlord under this Lease shall not be paid on the due date, a late charge of Ten (10%) percent of the term hereof; PROVIDEDdelinquent shall be charged by Landlord. If any installment of Rent shall remain overdue for more than Ten (10) days, HOWEVER, Lessee's payment to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, an additional late charge in an amount equal to Lessee's monthly rent hereunderOne and One-half (1-1/2%) percent per month (18% per annum) of the delinquent amount shall be charged by Landlord, shall, as between Lessee and Lessor, constitute payment of said monthly rent such charge to be computed for the applicable period. The monthly rent payable hereunder shall be subject entire period for which the amount is overdue and which is in addition to adjustment by the Lessor, at Lessor's discretion, based on and not in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation lieu of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, Ten percent (10%) late charge or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of America.remedy

Appears in 1 contract

Samples: Office Lease Agreement (Zix Corp)

Rental. 5.1 The Lessee agrees to shall pay to the Lessor rent (“Ground in respect of the leasing of Equipment under an Equipment Lease Rent”) Contract during the Period of Hire the rental and other payments in the initial amounts and at the intervals specified in such Equipment Lease Contract. Payment shall be due without previous demand or invoice and shall be made so as to be received by the Lessor in cleared funds on its due date. If the date on which any amount is payable by the Lessee shall not be a Business Day such amount shall be paid by the Lessee on the next subsequent day which is a Business Day. Time shall be of $5.00 the essence in respect of the payment of all sums due hereunder and the Lessee shall be deemed to have repudiated this Master Agreement and all Equipment Lease Contracts if any rental or other payment remains unpaid for 14 days or more after the same becomes due for payment. The Lease shall pay interest on a day-to-day basis at the Default Rate on all amounts overdue until payment thereof and the rights of the Lessor hereunder shall not in any way be affected by any time or other indulgence that the Lessor may grant to the Lessee. Payment shall be made to the Lessor by direct debit or as the Lessor may otherwise direct. Any payment agreed to be made by post shall be at the sole risk of the Lessee. 5.2 For the purposes of this Master Agreement and each Equipment Lease Contract and references to rent or rental shall mean and include: 5.2.1 the amounts of rent specified in each Equipment Lease Contract adjusted (if applicable) by the provisions of clause 5.3 or 5.4 below; plus 5.2.2 an amount equal to any costs and expenses involved in any foreign currency exchange, taxes (including VAT) or imposts now or hereafter levied or based, on the said rents, this Master Agreement or the Equipment its use ownership or acquisition and any imposts, taxes, license duties, registration fees and any other charges of a like nature howsoever described or amounts in lieu thereof paid or payable by the Lessor (other than taxes of the Lessor in respect of the overall net profits of the Lessor and other than VAT payable by the Lessor on its purchase of the Equipment unless that VAT is not recoverable) 5.3 If after the date hereof (other than by reason of insufficiency of profits of the Lessor or by virtue of any deliberate or negligent act or omission of the Lessor): 5.3.1 there is a change in the nature method or basis of taxation or in the interpretation thereof or in the nature or availability of capital allowances applicable to the Lessor in the United Kingdom; and/or 5.3.2 there is not made available to the Lessor for its accounting period current on the date on which its expenditure on the Equipment is incurred a first year allowance in respect of that expenditure equal to 25 per monthcent of the whole of the Lessor's Cost; and /or 5.3.3 for each relevant subsequent accounting period of the Lessor such expenditure (less the said first year allowance and any writing down allowances previously made available to the Lessor for earlier accounting periods in respect of the Lessor's Cost) is not similarly treated as qualifying expenditure incurred by the Lessor; and/or 5.3.4 for each such subsequent accounting period there is not made available to the Lessor without dispute or delay a writing down allowance in accordance with (Pounds)24(2) of the Capital Allowances Act 1990 at the annual rate specified in the relevant Equipment Lease Contract; and/or 5.3.5 the Lessor is unable for any reason whatsoever to utilize in full as an allowance in taxing its trade, subject set off in full against its profits of any description, or surrender in full (by way of group relief) to another member of its group an amount equal to the first year allowance and/or writing down allowance which would be available in any particular accounting period if none of 5.3.2 to 5.3.4 applied in such manner and at such time or times as the Lessor may select; and/or 5.3.6 the Internal Revenue at any time disallows or withdraws in whole or in part the said first year allowance and/or any such writing down allowance or postpones disputes disallows or withdraws the ability of the Lessor to effect the utilization, set off or (as applicable) surrender referred to in clause 5.3.5; and/or 5.3.7 any legislation passed after the date hereof requires the accounting period of the Lessor (or, where an amount equal to the writing down allowance has been surrendered by way of group relief to another member of the Lessor's group, that member of the Lessor's group) which is current at the date hereof or any subsequent accounting period to end other than on the same day in the year in which the immediately preceding accounting period ended or alters the date on which tax (of whatever description) is payable by the Lessor or by the member of the Lessor's group; and/or 5.3.8 there is any change in the rate of corporation tax resulting in that rate differing from that set out in the Equipment Lease Contract (references therein to the rate of corporation tax being to the rate fixed for companies generally and not to the small companies rate); and as a result the Lessor's return on its investment in the letting of the Equipment is reduced then the Lessor may after giving to the Lessee not less than 14 days' notice to that effect adjust the rentals not then due but which fall to be paid hereunder during the balance of the Primary Period and/or make a retrospective adjustment to any rentals which have already been paid during the Primary period in each case of such an amount as the Lessor may from time to time certify is necessary to maintain the Lessor's net after-tax return on its investment (calculated by the actuarial after tax method on funds invested from time to time in the lease) at the same level as provided belowit would have been if such events had not occurred, payable such certificate in advance the absence of manifest error to be conclusive and binding on the first day Lessee. If any such adjustment takes place after the expiry of the Primary Period or is made to payments of rental already made, it shall be expressed as a single payment of additional rental and be due forthwith on demand. 5.4 The Lessee acknowledges that in circumstances where part V of any Equipment Lease Contract has been completed, the rental payable during the Primary Period of that Equipment Lease Contract will have been calculated by reference to the Finance House Base Rate ("FHBR") and on the assumption that on or about each Rental Payment Date (as hereinafter defined) that rate is the Assumed Rate (as defined in the said Part V). In those circumstances, the following provisions of this clause 5.4 shall apply: 5.4.1 for the purposes of this clause 'Rental Payment Date' shall mean the date on which each payment of rental falls due for payment in accordance with the provisions of clause 5.1 above and 'Rental Period' shall mean the period commencing on each Rental Payment Date and expiring on the date immediately preceding the next Rental Payment Date; 5.4.2 subject to the provisions of clause 5.4.4 below on each Rental Payment Date the rentals payable for the Rental Period commencing on that date shall be adjusted by reference to FHBR prevailing at the beginning of each calendar month of that Rental Payment Date in the following manner, that is to say: At the beginning of each calendar month of the Period of Hire the FHBR in force on that day shall be ascertained, and every if the FHBR is lower than or higher than the Assumed Rate of interest then the rentals shall be adjusted by multiplying the capital outstanding at the time and on each day in the month during thereafter (as conclusively shown by debis Financial Services Limited's records) by the term of this Lease commencing with difference between the first FHBR and the Assumed Rate and dividing the result by 365. Such calculation shall be made on each day of the first month following month. The net result of all such variations (if any) shall then be charged or refunded (as the case may be) to the Lessee at intervals of six calendar months commencing six months after the commencement of the term hereof; PROVIDEDPeriod of Hire. In addition, HOWEVERif this Master Agreement or any Equipment Lease Contract expires or terminates for any reason on a date which is not six months after the commencement of the Period of Hire or a six monthly anniversary of it, Lessee's payment the net result of such variations from the commencement of the Period of Hire (or, if later, the last preceding six monthly anniversary) shall be charged or refunded (as the case may be) to the Association Lessee on the date of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for such expiry or termination. Variations shall bear Value Added Tax at the applicable periodrate. The monthly rent payable All sums due from the Lessee hereunder shall be subject to adjustment treated as sums due under this Master Agreement. 5.4.3 no account shall be taken of any reduction in FHB$R below the Minimum Rate (as specified in Part V of the relevant Equipment Lease Contract). 5.5 Any payments made by the Lessor, at Lessor's discretion, based on Lessee to the Lessor or recovered in respect of the liabilities of the Lessee under this Master Agreement may be appropriated by the Lessor in or towards satisfaction of any sums due and owing to the Lessor hereunder notwithstanding that the Lessee may have purported to appropriate such payments in some other way and the Lessor may also appropriate any such payment in part towards any sums which are due hereunder and in direct proportion part t6owards satisfaction of any sums due by the Lessee to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more Lessor otherwise than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of under this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of AmericaMaster Agreement.

Appears in 1 contract

Samples: Master Finance Lease Agreement (Independent Energy Holdings PLC)

Rental. Lessee agrees to Section 5.01. Commencing on the Rent Commencement Date, Tenant shall pay to Lessor rent (“Ground Lease Rent”) Landlord monthly, in the initial amount of $5.00 per monthadvance, subject to adjustment from time to time as provided belowwithout demand, payable in advance on the first day of each and every calendar month during the term Term, an annual rental ("Annual Rental") in an amount equal to 1/12 of the Annual Base Rent specified in the Basic Lease Information. The first monthly installment of Annual Base Rent shall be payable in advance by Tenant on the date of execution of this Lease Lease. If the Commencement Date is a date other than the first day of a calendar month, then the monthly installment of Rental for the first month for which rent is owing, being a fractional month, shall be appropriately prorated based on the number of days in such month, and shall be paid to Landlord in addition to the Annual Rental for the 12-month period commencing with on the first day of the first month following the commencement of month in which the term hereof; PROVIDED, HOWEVER, Lessee's payment to Commencement Date occurs. If the Association Expiration Date is a date other than the last day of a calendar month, then the monthly ground rent assessment pursuant to the provisions installment of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent Rental for the applicable period. The monthly last month for which rent payable hereunder is owing, being a fractional month, shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one yearappropriately prorated. Section 5.02. All rent payable hereunder Rental shall be paid to Landlord by Tenant when due, without setoff, deduction, abatementoffset or counterclaims (except as otherwise expressly provided for herein), suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States States, at Landlord's Address for Notices as specified in the Basic Lease Information, or such other place as Landlord may from time to time designate in writing. The term "Rental" as used herein means the then applicable Annual Rental and all other sums payable by Tenant under this Lease. All installments of AmericaRental within five (5) days after same is due shall bear interest from the date due until paid at a rate per annum equal to fifteen percent (15%); provided, however, that any interest payable pursuant to this Section 5.02 shall never exceed the Highest Lawful Rate. The term "Highest Lawful Rate" as used herein shall mean the maximum rate of interest from time to time permitted to be charged under applicable law to Tenant with respect to the indebtedness for which such interest is charged under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Infocrossing Inc)

Rental. Lessee (a) Tenant covenants and agrees to pay during the Lease Term, to Lessor Landlord, without any setoff or deduction whatsoever, the Base Rental and all such other sums of money as shall become due hereunder as additional rent (all of which are sometimes herein collectively called Ground Lease Rentrent) ), for the nonpayment of which Landlord shall be entitled to exercise all such rights and remedies as are herein provided in the initial amount case of $5.00 per monththe nonpayment of Base Rental. The Base Rental payable during each calendar year or portion thereof during the Lease Term, subject as increased pursuant to adjustment from time to time as provided subparagraph (d) below, shall be due and payable in advance twelve (12) equal installments on the first day of each and every calendar month during the each term of this Lease commencing with and any extensions or renewals thereof, and Tenant hereby agrees to pay such Base Rental to Landlord at Landlord’s address provided herein (or such other address as may be designated by Landlord in writing from tine to time). Tenant agrees to pay all such sums in advance monthly, and without notice or: demand, If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated, based on the number of days of such month. (b) If any payment of Rent or other sums due hereunder is made later than the seventh day of the month, a late fee of fifty ($50.00) dollars shall be paid by Lessee, upon demand by Lessor, for each day beyond the seventh, unless a lesser rate shall then be the maximum rate permissible by law, in which event, said lesser race shall be charged. This late fee shall be in addition to and not in exclusion of any other sums payable by Lessee due to Lessee’s failure to pay when due any sums hereunder. Acceptance of such late charge 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 the other rights and remedies granted hereunder. (c) Tenant shall pay all sales and use taxes levied or assessed against all rent payments due under this Lease simultaneously with each payment required hereunder. (d) Tenant shall pay the monthly installments of the Base Rental as same come due through the end of the first month following Lease Year, and thereafter the Base Rental shall be increased at the commencement of the term hereof; PROVIDEDsecond Lease Year and each Lease Year thereafter, HOWEVER, Lessee's payment to in the Association amount of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI three (3%) percent of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one previous lease year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of America’s rental.

Appears in 1 contract

Samples: Office Lease Agreement (Sun American Bancorp)

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Rental. Lessee agrees to 3.1. Tenant shall pay to Lessor rent (“Ground Lease Landlord in monthly installments an amount equal to 1/12 of the Annual Base Rent”) in the initial amount of $5.00 per month, subject to adjustment from time to time as provided below, payable in advance on the first day of each and every month during the term of this Lease commencing month, with the first day installment to be paid at the time of signing the Lease. The Annual Base Rent shall be increased each year on the Anniversary Date by three per cent (3%). All Rent (hereinafter defined) shall begin as of the first Commencement Date and shall be adjusted proportionately for any partial month following at the commencement beginning or end of the term hereof; PROVIDED, HOWEVER, Lessee's payment to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one yearTerm. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon Rent shall be payable without prior notice or demand except as expressly set forth herein, and without offset, deduction or counterclaim, in lawful money of the United States of America, to Landlord at the address set forth on the Lease Summary Sheet or at such other place as Landlord may from time to time designate by written notice. 3.2. This Lease is what is commonly called a "Net Lease", it being agreed that Landlord shall receive the rent set forth in Article 3 free and clear of any and all impositions, taxes, real estate taxes, liens, charges of any nature whatsoever in connection with the ownership and operation of [lie Premises together with the Building and land associated therewith ("Land"). In addition to the rent reserved in Article 3, Tenant shall pay as Additional Rent its proportionate share as stipulated below of all impositions, taxes, assessments, governmental charges of any kind, insurance premiums, operating charges, maintenance charges, reasonable management fees, expenses, construction costs, and any other costs expenses which arise or may be contemplated to arise under any relevant provisions of this Lease during the term hereof. All such charges, costs and expenses shall constitute additional charges and, upon the failure of Tenant to pay any of such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay rent. During each month of the term of this Lease, on the same day that rent is due hereunder, Tenant shall escrow with Landlord an amount equal to 1/12 of the estimated annual cost of its proportionate share of such items. Tenant authorizes Landlord to use the funds deposited with Landlord under this Paragraph 3.2 to pay such costs. The initial monthly escrow payments are based upon the estimated amounts for the year in question, and shall be increased or decreased annually to reflect the projected actual costs of all such items. If Tenant's total escrow payments are less than Tenant's actual proportionate share of all such items, Tenant shall pay the difference to Landlord within ten (10) days after demand. If the total escrow payments of Tenant are more than Tenant's actual proportionate share of all such items, Landlord shall retain such excess and credit it against Tenant's next annual escrow payments or return it to Tenant if there are no further escrow payments. A copy of such estimated operating expenses and real estate taxes for the calendar year 1997 is attached hereto as - Exhibit A-1. Notwithstanding the foregoing, Tenant shall not be responsible for the following charges, costs and expenses under the Lease. i) wages, bonuses and other compensation paid to any partner, shareholder, officer or director of Landlord;. ii) any costs or expenses associated with or incurred in connection with the removal, enclosure, encapsulation or other handling of asbestos or other hazardous or toxic materials or substances which costs or expenses arose due to the negligence or intentional act of the Landlord or another tenant of the Building or the Land. iii) cost of any item for which Landlord is paid or reimbursed by insurance; iv) increased insurance or Real Estate Taxes assessed and charged specifically to any other tenant; v) charges for electricity, water, other utilities and applicable taxes for which Landlord is reimbursed from any other tenant; vi) cost of any HVAC, janitorial or other services provided to other tenants on an extra-cost basis after regular business hours or otherwise charged to that tenant; vii) cost of correcting defects in the design, construction or equipment of or latent defects in the Building; viii) cost of any work or service performed on an extra-cost basis for any other tenant, which cost is charged to that tenant; ix) cost of any work or services performed for any building other than the Building; x) the portion of any cost representing an amount paid to a person, firm, corporation or other entity related to Landlord which is substantially in excess of the amount which would have been paid in the absence of such relationship; xi) Landlord's costs attributable to the activities of Landlord's officers and executives, if any; xii) attorneys' fees, accounting fees, brokerage fees and commissions and expenditures incurred in connection with negotiations, disputes and claims of other tenants; xiii) cost of any alterations, additions, changes, uninsured repairs, replacements or other items which under generally accepted accounting principles are properly classified as capital expenses except if Landlord's intent in incurring such cost was to lower operating expenses; xiv) rental expenses incurred in leasing air conditioning systems, elevators or other equipment affixed to any realty on the Land and which are ordinarily considered to be of a capital nature except if Landlord's intent in incurring such cost was to lower operating expenses; xv) cost of acquiring sculptures and paintings; xvi) costs of repairs, alterations and/or replacements caused by the exercise of the rights of eminent domain to the extent Landlord receives compensation through a condemnation award;

Appears in 1 contract

Samples: Commercial Lease (Streamline Com Inc)

Rental. (a) Lessee agrees to shall pay to Lessor rent (“Ground Lease Rent”) in the initial amount of $5.00 per month, subject to adjustment from time to time as provided below, payable in advance on the first day of each and every month during throughout the term of this Lease commencing with as rental for the Premises ($___) (the "Base Rent") (subject to adjustment as provided in paragraphs 3(b), 3(c) and 4 below) which rental shall be payable monthly in installments of --See Addendum to Lease-- Dollars ($___) each on or before the first day of the first full calendar month following the commencement of the term hereof and on or before the final day of each and every successive calendar month thereafter during the term hereof; PROVIDED, HOWEVER, Lessee's payment to . In the Association event the term of this Lease commences on a day other than the first day of a calendar month, then the monthly ground rent assessment pursuant to rental for the provisions of Article VII first and Article XXI last fractional months of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder term hereof shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one yearappropriately prorated. All rent payable hereunder Rental shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of to Lessor, without deduction or any other occurrence whatsoeveroffset, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of AmericaAmerica at 800 X. Xxxxxxxxx Xx., Xxxxx 000, Xxx Xxxxx, XX 00000, xx to such other person or at such other place as Lessor may from time to time designate in writing. (b) In the event the sum of Operating Expenses for the Base Year (as that term is defined in paragraph 4(a) and real property taxes and assessments for the Base Tax Year (as that term is defined in paragraph 4(b)) exceeds _____ per square foot of rentable area in the Building, the Base Rent set forth in paragraph 3(a) above shall be increased by Lessee's Percentage Share (as that term is defined in paragraph 4(a) of such excess (the "Adjusted Base Rent"). Lessor shall notify Lessee in writing within sixty (60) days following the end of the Base Year for Operating Expenses or the Base Tax Year, whichever is later, of any such adjustment, including the amount of the Adjusted Base Rent payable thereafter and the amount of additional rent payable from the commencement of the Lease term through the last day of the month in which notice is given, which additional rent shall be due and payable thirty (30) days after receipt of notice thereof. (c) The Adjusted Base Rent shall be subject to increase every n/a at the commencement of the lease year (the "Adjustment Dates") as follows: (i) the basis for computing the adjustment shall be the final Consumer Price Index for all Urban Consumers for the San Francisco Oakland Metropolitan Area published by the United States Department of Labor, Bureau of Labor Statistics (the "Index"), which is published for the month most recently preceding the commencement of the term hereof (the "Beginning Index"). If the index published most recently preceding an Adjustment Date (the "Adjustment Index") has increased with respect to the Beginning Index, the rental for the period until the next Adjustment Date shall be increased by the amount obtained by multiplying the Adjusted Base Rent by a fraction, the numerator of which is the difference between the Adjustment Index and the Beginning Index, and the denominator of which is the Beginning Index. In no event shall the rental payable under this paragraph 3(c) be less than the Adjusted Base Rent set forth in paragraph 3(b) above. (ii) If the Index is changed so that the base year differs from that used as of the month immediately preceding the month in which the commencement of the term hereof occurs, the lender 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, such other government index or computation with which it is replaced shall be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised.

Appears in 1 contract

Samples: Office Lease (Gymboree Corp)

Rental. Lessee agrees to (a) Tenant shall pay to Lessor rent Landlord throughout the Term as rental for the Premises the Base Rent. In addition to the Base Rent, for each calendar year subsequent to the Base Year the Base Rent shall be increased by (“Ground i) Tenant’s Percentage Share of the total dollar increase, if any, in Operating Expenses paid or incurred by Landlord in that year over the Base Year Operating Expenses and (ii) Tenant’s Percentage Share of the total dollar increase, if any, in Property Taxes paid or incurred by Landlord in that year over the Base Year Property Taxes. The increased rental due pursuant to this Section 4(a) is the Escalation Rent. (b) Monthly Rental shall be paid to Landlord, in advance, on or before the first day of the eighth month of this Lease Rent”) in the initial amount of $5.00 per month, subject to adjustment from time to time as provided below, payable in advance and on or before the first day of each and every successive calendar month during the term Term of this Lease. In the event the Term of this Lease commencing with commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, the monthly rental for the first month following the commencement and last fractional months of the term hereof; PROVIDEDTerm of this Lease shall be appropriately prorated. (c) All sums of money due to Landlord under this Lease, HOWEVERnot specifically characterized as rental, Lessee's shall constitute additional rent and shall be due within thirty (30) days after receipt by Tenant of a billing. If any sum is not paid when due, it shall be collectible as additional rent with the next installment of rental falling due. (d) Tenant acknowledges that late payment of rent and other sums due under this Lease after the expiration of any applicable cure period under Section 18(a) will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be difficult to ascertain. These costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on Landlord by the terms of any trust deed covering the Premises. Accordingly, if any installment of rent or any other sums due from Tenant are not received within five (5) business days of its due date, or if a cure period is applicable under Section 18(a), prior to the Association expiration of the cure period, Tenant shall pay to Landlord a monthly ground late charge equal to ten percent (10%) of the overdue amount. The parties agree that the late charge represents a fair and reasonable estimate of the costs Landlord will incur because of late payment. Acceptance of the late charge by Landlord shall not constitute a waiver of Tenant’s default for the overdue amount, nor prevent Landlord from exercising the other rights and remedies granted under this Lease. ______ [Initials of landlord] ______ [Initials of Tenant] (e) If any installment of rent assessment pursuant or any other sums due from Tenant are not received within five (5) business days of its due date, or if a cure period is applicable under Section 18(a), prior to the provisions of Article VII and Article XXI expiration of the CC&Rscure period, in an such amount equal to Lessee's monthly rent hereunderwill thereafter bear interest until paid at the rate of ten percent (10%) per year. However, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent interest shall not be payable hereunder shall be subject to adjustment on late charges incurred by the Lessor, at Lessor's discretion, based Tenant nor on and in direct proportion any amounts on which late charges are paid by Tenant to the change extent this interest would cause the total interest to be in the Consumer Price Index excess of Urban Wage Earners and Clerical Workers that legally permitted. Payment of interest shall not excuse or cure any default by Tenant. (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100f) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder payments due shall be paid to Landlord, without setoffdeduction or offset, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of AmericaAmerica at Landlord’s address for notices under this Lease or to another person or at another place as Landlord may designate by notice to Tenant. Tenant may make payments by wire or electronic funds transfer it so elects, and Landlord shall make available to Tenant the necessary account information for such transfers. If Tenant pays by check and the check is returned for non-sufficient funds more than once, upon request of the Landlord, the Tenant shall make future payments by cashier’s check.

Appears in 1 contract

Samples: Office Lease (Java Detour Inc.)

Rental. During the first year of the Lease Term as Total Rental for the ------ use and occupancy of the Leased Premises, Lessee agrees to shall pay to Lessor rent (“Ground Lease Rent”) in lawful money of The United States of America the initial amount sum of $5.00 496,765.44 (the "Total Rental") payable in twelve (12) equal payments of $41,397.13 per month, subject to adjustment from time to time as provided belowplus Florida State sales tax, payable in advance on the first day of each and every month during said Lease Term. As used herein, the term "Total Rental" includes the annual Operating Expense Factor of $78,278.16 described in Paragraph 6, "Operating Expenses" of this Lease, an annual Base Rental of $418,487.28, and all other sums anticipated to come due under this Lease, if any. With respect to rentals, the parties also agree as follows: (a) Lessee has deposited with Lessor simultaneously with Lessee's execution of this Lease, the sum of $41,397.12 plus Florida State sales tax ---------- for a total of $43,880.95 which will be credited to Lessee for payment of the first month's rent. (b) The Base Rental shall be increased to $37,633.75 per month plus the Operating Expense Factor and sales tax beginning upon commencement of the Second Lease Year the Lease Term, and thereafter Base Rent will increase by three percent annually (3%) commencing with the Third Lease Year and continuing for the remainder of the Lease Term. (c) If this Lease commences on a day other than the first day of the month, the first month following the commencement monthly installment of the term hereof; PROVIDED, HOWEVER, Lessee's payment to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII shall be adjusted and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between prorated so that Lessee and Lessor, constitute payment of said monthly shall only pay rent for the applicable period. The actual number of days in the first month of said term, but for all other months Lessee shall pay the full monthly rent payable hereunder installment on the first day of each and every month. (d) Rent shall be subject mailed or delivered by Lessee to adjustment Lessor at such place as Lessor may designate in writing and rent shall be payable promptly on the first day of each and every month without prior demand therefor by Lessor. (e) Lessee hereby agrees with Lessor that in the event that rentals and other sums due hereunder are received after the tenth (10th) day of the month in which they are due, Lessee shall pay to Lessor, at Lessor's discretionoption, based on and in direct proportion a late charge equal to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers five percent (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=1005%) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Leasetotal sum due, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of Americaplus applicable sales tax.

Appears in 1 contract

Samples: Lease Agreement (Sequiam Corp)

Rental. Lessee agrees to (a) Tenant shall pay to Lessor rent (“Ground Landlord throughout the term of this Lease Rent”) as rental for the Premises the sum specified in the initial amount Basic Lease Information as the Base Rent. As additional rental hereunder, Tenant shall pay to Landlord the additional charges described in paragraph 4 below. (b) Monthly rental shall be paid to Landlord on or before the first day of $5.00 per month, subject to adjustment from time to time as provided below, payable in advance the term hereof and on or before the first day of each and every successive calendar month thereafter during the term hereof. In the event the term of this Lease commencing with commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, the monthly rental for the first month following the commencement and last fractional months of the term hereof; PROVIDEDhereof shall be appropriately prorated. (c) All sums of money due from Tenant hereunder not specifically characterized as rental shall constitute additional rent, HOWEVERand if any such sum is not paid when due it shall nonetheless be collectible as additional rent with the next installment of rental thereafter falling due, Lessee's but nothing contained herein shall be deemed to suspend or delay the payment of any sum of money at the time it becomes due and payable hereunder, or to limit any other remedy of Landlord. (d) Tenant hereby acknowledges that late payment by Tenant to Landlord of rent and other sums due hereunder after the expiration of any applicable grace period described in paragraph 19 (a) will cause Landlord to incur costs not contemplated by the Lease, the exact amounts of which will be difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any encumbrances covering the Building and the Premises. Accordingly, if any installment of rent or any other sums due from Tenant shall not be received by Landlord prior to the Association expiration of any applicable grace period described in paragraph 19 (a), Tenant shall pay to Landlord a monthly ground rent assessment pursuant late charge equal to the provisions five percent (5%) of Article VII such overdue amount. The parties hereby agree that such late charge represents a fair and Article XXI reasonable estimate of the CC&Rscosts Landlord will incur by reason of late payment by Tenant based on the circumstances existing as of the date of this Lease. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, in nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (e) Any amount due from Tenant, if not paid when first due, shall bear interest from the date first due until paid at an amount annual rate equal to Lessee's monthly rent hereunder4% over the annual prime rate of interest announced publicly by Citibank, shallN.A. in New York, as between Lessee and Lessor, constitute payment New York from time to time (but in no event in excess of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment maximum rate of interest permitted by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Serieslaw), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that interest shall not be payable on late charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant to the extent such interest would cause the total interest to be in no event excess of that legally permitted. Payment of interest shall the rent not excuse or cure any default hereunder be so increased more than 12% for any one year. by Tenant. (f) All rent payable hereunder payments due from Tenant shall be paid to Landlord, without setoffdeduction or offset, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of AmericaAmerica at Landlord's address for notices hereunder, or to such other person or at such other place as Landlord may from time to time designate by notice to Tenant.

Appears in 1 contract

Samples: Office Lease (Smartage Corp)

Rental. Lessee agrees to (a) Tenant shall pay to Lessor rent (“Ground Landlord throughout the term of this Lease Rent”) as rental for the Premises the sum specified in the initial amount Basic Lease Information as the Base Rent. As additional rental hereunder, Tenant shall pay to Landlord the additional charges described in paragraph 4 below. (b) Monthly rental shall be paid to Landlord on or before the first day of $5.00 per month, subject to adjustment from time to time as provided below, payable in advance the term hereof and on or before the first day of each and every successive calendar month thereafter during the term hereof. In the event the term of this Lease commencing with commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, the monthly rental for the first month following the commencement and last fractional months of the term hereof; PROVIDEDhereof shall be appropriately prorated. (c) All sums of money due from Tenant hereunder not specifically characterized as rental shall constitute additional rent, HOWEVERand if any such sum is not paid when due it shall nonetheless be collectible as additional rent with the next installment of rental thereafter falling due, Lessee's but nothing contained herein shall be deemed to suspend or delay the payment of any sum of money at the time it becomes due and payable hereunder, or to limit any other remedy of Landlord. (d) Tenant hereby acknowledges that late payment by Tenant to Landlord of rent and other sums due hereunder after the expiration of any applicable grace period described in paragraph 19 (a) will cause Landlord to incur costs not contemplated by this Lease, the exact amounts of which will be difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any encumbrances covering the Building and the Premises. Accordingly, if any installment of rent or any other sums due from Tenant shall not be received by Landlord prior to the Association expiration of any applicable grace period described in paragraph 19 (a), Tenant shall pay to Landlord a monthly ground rent assessment pursuant late charge equal to the provisions (5%) of Article VII such overdue amount. The parties hereby agree that such late charge represents a fair and Article XXI reasonable estimate of the CC&Rscosts Landlord will incur by reason of late payment by Tenant based on the circumstances existing as of the date of this Lease. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, in nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. (e) Any amount due from Tenant, if not paid when first due, shall bear interest from the date due until paid at an amount annual rate equal to Lessee's monthly rent hereunder4% over the annual prime rate of interest announced publicly by Citibank, shallN.A. in New York, as between Lessee and Lessor, constitute payment New York from time to time (but in no event in excess of said monthly rent for the applicable period. The monthly rent payable hereunder shall be subject to adjustment maximum rate of interest permitted by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Serieslaw), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that interest shall not be payable on late charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant to the extent such interest would cause the total interest to be in no event excess of that legally permitted. Payment of interest shall the rent not excuse or cure any default hereunder be so increased more than 12% for any one year. by Tenant. (f) All rent payable hereunder payments due from Tenant shall be paid to Landlord, without setoffdeduction or offset, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of AmericaAmerica at Landlord's address for notices hereunder, or to such other person or at such other place as Landlord may from time to time designate by notice to Tenant.

Appears in 1 contract

Samples: Office Lease (Walker Interactive Systems Inc)

Rental. Lessee (a) Tenant covenants and agrees to pay to Lessor rent Landlord the Fixed Rent in equal monthly installments on or before the first day of each calendar month during the Term. If the Commencement Date shall be other than the first day of a month, Fixed Rent shall be paid on the Commencement Date on a pro-rata basis for the fractional part of the month between the date same is due and the last day of said month (“Ground Lease Rent”based on a thirty (30) day month). (i) All other charges payable pursuant to this lease hereinafter are called "Additional Rental". All payments of Additional Rental, unless otherwise provided herein, shall be due and payable to Landlord in the initial amount of $5.00 per month, subject to adjustment from time to time same manner as provided below, payable is set forth in advance Paragraph 5(a) on the first day of each and every the calendar month during or ten (10) days following demand therefor, whichever shall later occur. (ii) If the term Commencement Date shall be other than the first day of this Lease commencing with a month, then Tenant shall pay on the Commencement Date, any Additional Rental for the fractional portion of the month on a per them basis until the first day of the first next succeeding month. Fixed Rent and Additional Rental herein are referred to collectively as "Rental". (b) If any payment of Rental due hereunder shall be overdue, a "late charge" may be charged at the rate of five (5%) percent per month following on any Rental which is overdue, computed from the commencement due date until payment thereof. This charge shall be in addition to and not in lieu of any other remedy Landlord may have under the circumstances and is in addition to any charge by Landlord to Tenant for reasonable fees and charges of any agents or attorneys Landlord may employ as a result of any default in the payment of Rental hereunder whether authorized herein or by law. Any such "late charges", if not previously paid, at the option of the term hereof; PROVIDEDLandlord, HOWEVER, Lessee's shall be added to and shall become cart of the succeeding Rental payment to be made hereunder and shall be deemed to constitute Additional Rental. (c) It is the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI intention of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent parties hereto that t-e Fixed Rent payable hereunder shall be subject absolutely net to adjustment by Landlord, so that this lease shall yield to Landlord the Lessornet annual Fixed Rent specified herein during the Term, at Lessor's discretionand that all costs, based on expenses and in direct proportion obligations of every kind and nature whatsoever relating to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder Premises shall be paid without setoffby Tenant, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or except as otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease specifically provided for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of Americaherein.

Appears in 1 contract

Samples: Lease Agreement (United Auto Group Inc)

Rental. Lessee Tenant agrees to pay Landlord, as fixed annual rental hereunder during the term of this Lease, the sum of Twelve Dollars ($12.00) per square foot. At commencement of this Lease Tenant shall occupy 20,000 square feet. At the commencement of the Lease, Tenant shall pay to Lessor rent Landlord Two Hundred and Twenty Four Thousand Dollars (“Ground Lease Rent”) in the initial amount of $5.00 per month, subject to adjustment from time to time as provided below240,000.00), payable in advance equal, consecutive monthly installments of Twenty Thousand Dollars ($20,000.00). Tenant shall have the option to lease additional square footage up to 45,000 square feet at a the then current square footage rate. The fixed annual rental shall be increased by the percentage increase, if any, in the Consumer Price Index for All Urban Consumers (1982-84 = 100) US City Average, All Items (hereinafter the "Index") for each lease year after the first lease year. Such increases shall be calculated based upon the Index for the month preceding by three (3) months the commencement of each lease year. If the Index is not published by the Bureau of Labor Statistics or another governmental agency at any time during the term of this Lease, or if the Index is otherwise renamed, discontinued or superseded, then the calculations based on the first day Index shall be made using the most closely comparable statistics on the purchasing power of each the consumer dollar as published by a responsible financial authority and every month selected by Landlord. All payments of fixed rental to be paid by Tenant to Landlord hereunder during the term of this Lease commencing with shall be due on or before the first day of each month, in advance, at the first month following offices of Safe Auto Insurance Company, or such other place as Landlord may from time to time designate, without any prior demand therefor and without any deductions or setoffs whatsoever. In the commencement event any rental payment is not received on or before the fifth calendar day after it is due, Tenant shall immediately pay as additional rent, without additional demand or notice, a late charge of ten percent (10%) of the term hereof; PROVIDED, HOWEVER, Lessee's payment amount of the overdue rental payment. All costs and expenses which Tenant assumes or agrees to the Association of a monthly ground rent assessment pay to Landlord pursuant to the provisions of Article VII and Article XXI of the CC&Rs, in an amount equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment of said monthly rent for the applicable period. The monthly rent payable hereunder this Lease shall be subject to adjustment by the Lessordeemed additional rent, at Lessor's discretion, based on and in direct proportion to the change event of nonpayment, Landlord shall have all the rights and remedies herein provided for in the Consumer Price Index case of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall the rent hereunder be so increased more than 12% for any one year. All rent payable hereunder shall be paid without setoff, deduction, abatement, suspension or apportionment, and the obligations nonpayment of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of Americarent.

Appears in 1 contract

Samples: Assignment of Real Estate Lease as Security (Safe Auto Group, Inc.)

Rental. (a) Lessee agrees to shall pay to Lessor rent (“Ground throughout the term of this Lease as rental for the Premises the following sums as the Base Rent”) in the initial amount of : Years 1-5 $5.00 133,096.00 per month Years 6-10 $155,017.50 per month, subject (b) Rental shall be paid to adjustment from time to time as provided below, payable in advance Lessor on or before the first day of the term hereof and on or before the first day of each and every successive calendar month thereafter during the term hereof. In the event the term of this Lease commencing with commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, then the monthly rental for the first month following the commencement and last fractional months of the term hereof; PROVIDEDhereof shall be appropriately prorated. (c) Lessee hereby acknowledges that late payment by Lessee to Lessor of rent and other sums due hereunder after the expiration of any applicable grace period will cause Lessor to incur costs not contemplated by this Lease, HOWEVERthe exact amount of which will be extremely difficult to ascertain. Such costs include, Lessee's payment but are not limited to, processing and accounting charges, and late charges which may be imposed on Lessor by the terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of rent or any other sums due from Lessee shall not be received by Lessor when due or, if a grace or cure period is applicable, shall not be received by Lessor prior to the Association of a monthly ground rent assessment pursuant to the provisions of Article VII and Article XXI expiration of the CC&Rsapplicable grace or cure period, in an amount Lessee shall pay to Lessor a late charge equal to Lessee's monthly rent hereunder, shall, as between Lessee and Lessor, constitute payment 6% of said monthly rent for the applicable periodsuch overdue amount. The monthly rent payable hereunder parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Lessor will incur by reason of late payment by Lessee. Acceptance of such late charge by Lessor shall be subject to adjustment by the Lessor, at Lessor's discretion, based on and in direct proportion to the change in the Consumer Price Index of Urban Wage Earners and Clerical Workers (Revised Series), Los Angeles-Long Beach-Anaheim Average (1982=100) that has occurred since January 1, 2005, provided that in no event shall constitute a waiver of Lessee's default with respect to such overdue amount nor prevent Lessor from exercising any of the rent other rights and remedies available to Lessor hereunder or at law. (d) Rental and all other payments to be so increased more than 12% for any one year. All rent payable made by Lessee hereunder shall be paid to Lessor without setoffdeduction or offset, deduction, abatement, suspension or apportionment, and the obligations of Lessee hereunder shall not be released, discharged or otherwise affected by damage or destruction or condemnation of the property in which Lessee has an interest by virtue of this Lease, or termination of this Lease for any reason other than default of Lessor, or any other occurrence whatsoever, whether or not similar to the foregoing. All rentals hereunder and late charges thereon shall be payable in lawful money of the United States of AmericaAmerica at Lessor's address for notices hereunder or to such other person or at such other place as Lessor may from time to time designate in writing. All amounts of money payable by Lessee to Lessor hereunder, if not paid within ten days of the date when due, shall bear interest from the due date until paid at the highest rate legally permitted. (e) All sums of money or charges required to be paid by Lessee hereunder shall be deemed rental for the Premises and may be designated as such in any statutory notice to pay rent or quit the Premises.

Appears in 1 contract

Samples: Office Lease (Medicalogic Inc)

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