Sublease Rent. Students are not permitted to sublease, rent, or grant regular access to their assigned space, building, or community.
Sublease Rent. (a) Subtenant shall pay to Sublessor a fixed annual rent (the “Sublease Rent”) as follows: (i) for the period commencing on the Rent Commencement Date and ending on the last day of the month in which the fifth (5th) anniversary of the Rent Commencement Date shall occur (the “First Rent Period Expiration Date”), the Sublease Rent shall be payable at the rate of Three Million Twenty-Three Thousand Six Hundred Seventy-Four ($3,023,674.00) Dollars per annum and (ii) for the period commencing on the day after the First Rent Period Expiration Date and ending on the Expiration Date, the Sublease Rent shall be payable at the rate of Three Million One Hundred Ninety-Nine Thousand Four Hundred Sixty-Nine ($3,199,469.00) Dollars per annum. The Sublease Rent shall be payable in equal monthly installments, in advance on the first day of the month for which such rent is due. Notwithstanding the foregoing, Subtenant’s obligation to pay Sublease Rent shall not commence until the day (the “Rent Commencement Date”) which, subject to adjustment pursuant to the provisions of Article 3 hereof, shall be the day next following the three (3) month anniversary of the Commencement Date.
(b) The Sublease Rent, additional rent, and other charges herein reserved or payable by Subtenant, shall be paid to Sublessor at the address for Sublessor set forth in Section 18 hereof or at such other place as Sublessor may designate in a written notice to Subtenant, in lawful money of the United States of America, as and when the same shall become due and payable, pursuant to the provisions of this Sublease without any deduction, set-off, or abatement whatsoever, except as expressly permitted hereunder. Where no other date is specified for the payment of additional rent required to be paid by Subtenant pursuant to the provisions of this Sublease, same shall be payable thirty (30) days after Subtenant shall have received a written demand from Sublessor reasonably identifying and computing the amount due.
(c) No payment by Subtenant or receipt by Sublessor of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the earliest stipulated rent or additional charges; nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction, and Sublessor may accept any check or payment without prejudice to Sublessor’s right to recover the balance due or to pursue any other remedy available to Sublessor.
Sublease Rent. Subtenant shall pay to Sublandlord Sublease Rent in the ------------- amount of $429,640.00 per annum for the term of this Sublease payable in equal monthly installments of $35,803.33 in advance on or before the first day of each calendar month, without deduction or set off, such installments to be made in the manner herein set forth. Pursuant to Section 13 of the Xxxxxxxxx, fifty percent of that portion of the Sublease Rent which exceeds the Basic Rent owed by Sublandlord to OMV under the Xxxxxxxxx ("Excess Sublease Rent") shall be paid to OMV. The allocation of the Sublease Rent due to Sublandlord and to OMV in accordance with the Xxxxxxxxx are as follows: Sublandlord's Share of Sublease Rent 50% of Excess Sublease Rent ------------------------------------ --------------------------- Lease Year 1: $29,003.73 per month $6,799.60 per month Lease Year 2: $29,003.73 per month $6,799.60 per month Lease Year 3: $29,233.14 per month $6,570.19 per month Lease Year 4: $29,462.56 per month $6,340.77 per month Lease Year 5: $29,462.56 per month $6,340.77 per month to Sublandlord, Subtenant and Sublandlord agree that Subtenant shall pay Sublease Rent simultaneously to OMV and Sublandlord each month as follows: Until the Rent Credit (as defined in the Xxxxxxxxx) has been exhausted, Subtenant shall pay (a) to Sublandlord, Sublandlord's Share of Sublease Rent and (b) to OMV, 50% of Excess Sublease Rent. Upon exhaustion of the Rent Credit (as will be evidenced by at least thirty (30) days prior written notice from Sublandlord to Subtenant), Subtenant shall pay (i) to Sublandlord, 50% of Excess Sublease Rent and (ii) to OMV, Sublandlord's Share of Sublease Rent.
Sublease Rent. (a) Subtenant shall pay to Landlord during the initial term hereof annual Base Rent in the amount set forth as the Base Rent in the Lease with respect to the applicable portion of the term of this Sublease. In addition to the Base Rent, Subtenant shall pay to Landlord, as additional rent, in equal monthly installments during the entire term of this Sublease, all additional rents (including but not limited to Real Estate Taxes, water and sewer charges, and the Insurance Cost, “Additional Rent”) (the Base Rent and Additional Rent, in the aggregate, the “Rent”) required to be paid by Tenant under the Lease. Subtenant shall pay the Rent at the times and in the manner provided in the Lease to Landlord, without counterclaim, setoff or deduction and without any previous demand therefor. Sublandlord irrevocably (i) waives its right to collect Subtenant’s Rent hereunder and hereby authorizes Subtenant to pay all Rent required hereunder or due under the Lease directly to Landlord, and (ii) assigns all rights as Sublandlord, including but not limited to, the collection of Rent, from Subtenant to Landlord. By its consent to this Sublease, Landlord agrees to accept payment of all Rent required hereunder directly from Subtenant and authorizes all payments of Rent required hereunder to be made by way of automatic monthly electronic transfer from an account designated by Subtenant to an account designated by Landlord.
(b) Sublandlord and Subtenant acknowledge and agree that, as of the date hereof, Sublandlord is in material default of the Lease and owes Landlord the sum of $1,281,629.34 (the “Amount Due”), which Amount Due does not include interest and penalties (“Interest/Penalties”), to which Landlord reserves all rights in the event the obligations included herein are not satisfied or in the event of a default under the Lease. Sublandlord and Subtenant consent irrevocably to the withdrawal by Landlord of the entire security deposited pursuant to the Lease and being held by Landlord, which as of the date hereof is the sum of $163,565.29 (the “Current Security”). The Current Security will be applied to the Amount Due, resulting in a net amount due from Subtenant to Landlord (but without including Interest/Penalties), of $1,118,064.05 (the resulting sum being referred to herein as the “Past Due Rent”). In addition to the Rent, Subtenant shall pay to Landlord the Past Due Rent (without including Interest/Penalties) in thirty-six (36) equal monthly installments, commencing ...
Sublease Rent. Except for a sublease to an Affiliate (as defined in Section 16.04, below), if the Tenant subleases the Premises at a rent in excess of the rent reserved by the Owner hereunder, the Owner shall have the right to refuse consent thereto unless fifty percent (50%) of all such excess rent to be paid by the sublessee is agreed to be, and is, paid to the Owner and such condition is expressly agreed to be a reasonable limitation upon the Tenant's right to sublease the Premises.
Sublease Rent. (a) In consideration of the lease of the Unit Interest, Home Owner shall pay to the Association rent of _Seven Hundred and Twenty Dollars ($720.00) per year, subject to increases, at the discretion of the Association, by an amount not to exceed eight percent (8%) of the previous year's rent, such increase to take effect as of each January 1st during the term of this Sublease. Unless otherwise agreed to by the Association, this rent is prorated in monthly installments and is included in the regular Association assessments. Payments for partial years and partial months shall be prorated. Any other amount payable by Home Owner to Association under the terms of this Sublease and any amount paid on behalf of Home Owner under Section 5.14, below, by The Regents, shall constitute additional rent.
(b) All payments enumerated in this Section 2.3 shall be made without offset of any kind.
Sublease Rent. The original Tenant shall remain liable to the Landlord for all obligations under the Lease during the entire term of Sublet, including payment of all rent and other obligations under the Lease and liability for any damages to the apartment, even if caused by the Subtenant.
Sublease Rent. All monetary obligations of Subtenant to Sublandlord under the terms of this Sublease (including, without limitation, Base Rent, Direct Expenses, and Other Charges, but excluding the Security Deposit) are deemed to be rent (“Sublease Rent”). Sublease Rent shall be payable, without any deduction, offset, prior notice or demand (except as otherwise expressly provided herein), in lawful money of the United States to Sublandlord by ACH or wire transfer to an account that Sublandlord may designate in writing. Base Rent and Direct Expenses payable for any partial month during the Term shall be prorated on a daily basis based on the actual number of days in such month.
Sublease Rent a. In addition to the monthly Sublease Base Rent payable under the Sublease as in effect prior to this Amendment, effective on the Adjustment Date, Sublessee shall pay Sublease Base Rent for the Examiner Premises as set forth in the following table: From the 2nd Floor Commencement Date through the first (1st) anniversary of the 2nd Floor Commencement Date. $60,002.92 (based on $42.50 per rsf) $ 720,035.00 The first day following the first (1st) anniversary of the 2nd Floor Commencement Date through the Sublease Expiration Date. $61,414;75 (based on $43.50 per rsf) $ 736,977.00
Sublease Rent. During the term of the Sublease, Subtenant covenants and agrees to pay to Sublessor base rent for the Premises without notice or demand and without deduction, set-off, or abatement, in equal monthly installments in advance ("Monthly Base Rent"), in accordance with the following schedule: Base Rent Schedule Date From Date To Monthly Rent Per Sq. Ft. --------- ------- ------------ ----------- Commencement May. 31, 2003 $4,500.00 $18.00 Jun. 1, 2003 Nov. 30, 2003 $9,517.50 $18.00 Dec. 1, 2003 Nov. 30, 2004 $9,898.20 $18.72 Dec. 1, 2004 Nov. 30, 2005 $10,294.76 $19.47 Dec. 1, 2005 Nov. 30, 2006 $10,707.19 $20.25 Dec. 1, 2006 Dec. 31, 2006 $11,135.48 $21.06 The first installment of monthly rent paid by Subtenant upon its execution of this Sublease shall be applied by Sublessor to the monthly Base Rent payable by Subtenant for the first calendar month of the initial Sublease term. Remaining monthly rent installments are due and payable to the Sublessor on the first calendar day of the month.
(a) If the rent Commencement Date occurs on a day other than the first day of a calendar month, the gross Rent due and payable for such calendar month shall be pro-rated based on a thirty (30) day month.
(b) In the event Subtenant is late in the payment of rent or other sums of money required to be paid under the Lease, Subtenant agrees to pay to Sublessor a late charge of 6% of the overdue amount .
