Tenant’s Payment a. In the event that Operating Expenses for any Operating Year shall be greater than Base Operating Expenses, Tenant shall pay to Landlord, as an Escalation Charge, an amount equal to:
i. The excess of the Operating Expenses for such Year over and above Base Operating Expenses, multiplied by,
ii. The Escalation Factor, such amount to be apportioned for any Operating Year in which the Commencement Date falls or the Term of this Lease ends.
b. Estimated payments by Tenant on account of Operating Expenses shall be made monthly and at the time and in the fashion herein provided for the payment of Basic Rent. The monthly amount so to be paid to Landlord shall be sufficient to provide Landlord by the end of each Operating Year a sum equal to Tenant’s required payments (if any) on account of Operating Expenses for the preceding Operating Year. Promptly after the end of each Operating Year, Landlord shall submit to Tenant a reasonably detailed accounting of Operating Expenses for such Operating Year, and Landlord shall certify the accuracy thereof. If estimated payments theretofore made for such Operating Year by Tenant exceed Tenant’s required payment on account thereof for such Operating Year, according to such statement, Landlord shall credit the amount of overpayment against subsequent obligations of Tenant with respect to Operating Expenses (or refund such overpayment if the Term of this Lease has ended and Tenant has no further obligation to Landlord); but, if the required payments on account thereof for such Operating Year are greater than the estimated payments (if any) theretofore made on account thereof for such Operating Year, Tenant shall make payment to Landlord within ten (10) days after being so advised by Landlord. Landlord shall have the same rights and remedies for the nonpayment by Tenant of any payments due on account of Operating Expenses as Landlord has hereunder for the failure of Tenant to pay Basic Rent.
Tenant’s Payment of Direct Charges, as AdditionalRent. Tenant shall promptly and duly; pay all costs and expenses incurred for or in connection with any Tenant Change (as such term is defined in Section 12.12 of this Lease) or Tenant Service (as such term is defined in Section 8.10 of this Lease), and discharge any mechanic's or other lien created against the Premises, Building or the Real Property arising as a result of or in connection with any Tenant Change or Tenant Service as Additional Rent by paying the same, bonding or manner otherwise provided by law. Any other cost, expense, charge, amount or sum (other than Fixed Monthly Rent) payable by Tenant as provided in this Lease shall also be considered Additional Rent. Certain individual items of cost or expense may, in the reasonable determination of Landlord, be separately charged and billed to Tenant by Landlord, either alone or in conjunction with another party or parties, if they are deemed in good faith by Landlord to apply solely to Tenant and/or such other party or parties and are not otherwise normally recaptured by Landlord as part of normal operating expenses. Insofar as is reasonable, Landlord shall attempt to give Tenant prior notice and the opportunity to cure any circumstance that would give rise to such separate and direct, billing. Said separate billing shall be paid as Additional Rent, regardless of Tenant's Share. Such allocations by Landlord shall be binding on Tenant unless patently unreasonable, and shall be payable within ten (10) days after receipt of Landlord's billing therefor.
Tenant’s Payment. Commencing on the Commencement Date and continuing on the first day of each calendar month in advance during the Term, Tenant shall pay to Landlord, as Additional Rent, such amount as Landlord shall reasonably estimate to equal one-twelfth (1/12th) of Tenant’s Share of Operating Expenses and Tenant’s Share of Taxes for the then current calendar and/or fiscal year, as applicable, which estimate shall be determined by multiplying Landlord’s estimate of each of the monthly Operating Expenses and Taxes by Tenant’s Share.
Tenant’s Payment. As a material condition and inducement to Mass Mutual’s agreement to enter into this letter agreement, and in consideration for the release set forth in paragraph 3 hereof, the Tenant hereby agrees to pay to Mass Mutual the sum of $475,000 (the “Debt”) in full and final settlement of all of the Tenant’s obligations owed to Mass Mutual pursuant to the Lease, including those which would have been payable under the Lease absent this letter agreement from the Termination Date through the date initially set forth in the Lease as the expiration date thereof. The Tenant shall pay the Debt in immediately available funds within 100 days from the date first written above. The Tenant hereby also agrees, as security for the payment of the Debt as contemplated in the foregoing sentence, to pledge to Mass Mutual 2,767,112 Ordinary Shares of WRDCLogsys Limited (the “Shares”) held by it pursuant to that certain Pledge Agreement, a copy of which is attached as Exhibit A hereto (the “Pledge Agreement”), and to provide to Mass Mutual, prior to the Termination Date, written consents executed and delivered by each of the other holders of shares in WRDCLogsys Limited (the “Shareholders”) whereby the Shareholders (a) consent to the pledge of the Shares to Mass Mutual and to the transfer of the Shares to Mass Mutual in the event that the Tenant shall fail to pay the Debt to Mass Mutual within 100 days of the date first written above and Mass Mutual exercises its remedies under the Pledge Agreement, and (b) waive any right of first refusal and/or right of first offer which the Shareholders may have with respect to the Shares. In the event that the Tenant shall fail to pay the Debt to Mass Mutual within 100 days of the date first written above, Mass Mutual hereby agrees and understands that, subject to paragraphs 5, 6 and 7 hereof, its sole and exclusive remedies against the Tenant are the remedies set forth in the Pledge Agreement. Notwithstanding anything to the contrary contained herein and in the Pledge Agreement, but subject in any event to paragraphs 5, 6 and 7 hereof, this letter agreement shall survive and remain in effect should the Tenant fail to pay the Debt to Mass Mutual in immediately available funds as provided herein.
Tenant’s Payment. All injury or damage to the Premises caused by Tenant or Tenant's customers, agents, employees, vendors, clients or invitees shall, to the extent not reimbursed by Landlord's casualty insurance, be repaired at Tenant's sole cost and expense. Additionally, all injury or damage to the Shopping Center caused by Tenant or Tenant's customers, agents, employees, clients or invitees entering the Shopping Center under the invitation of Tenant shall be repaired, at Tenant's sole cost and expense, to the extent not reimbursed by Landlord's casualty insurance. Tenant shall pay all amounts required herein to Landlord on demand, with interest thereon at 12% per annum from the due date until paid
Tenant’s Payment. Tenant shall pay to Landlord as additional rent Tenant’s share of Operating Expenses on a monthly basis in advance of the first day of each rent month, payable to the Landlord as specified in Section 4.
Tenant’s Payment. Tenant shall pay all of the costs of operating and maintaining the Common Areas (prorated for any fractional month) upon written notice from Landlord that such costs are due and payable, and in any event prior to delinquency.
Tenant’s Payment. Commencing on the Commencement Date, and continuing on the first day of each calendar month in advance during the Term, Tenant shall pay to Landlord, as Additional Rent, such amount as Landlord shall reasonably estimate to equal one-twelfth (1/12th) of Tenant’s Proportionate Share of an amount equal to (x) estimated Operating Expenses for the then current calendar year, less (y) the Base Amount (the “OpEx Escalation”). If Operating Expenses due for any calendar year during the Term shall be due for a period of less than twelve (12) months, the Base amount and the amount of the OpEx Escalation for such calendar year shall be appropriately prorated. Notwithstanding the foregoing or anything to the contrary contained herein, Tenant shall not be responsible to pay the OpEx Escalation for the first 12 months after the Commencement Date.
Tenant’s Payment. Tenant shall pay Landlord the amount of all Real Property Taxes applicable to the Premises during the Term. Landlord may, at Landlord's option, estimate the current Real Property Taxes, and require that such taxes be paid in advance to Landlord by Tenant, either: (i) in a lump sum amount equal to the installment due, at least 20 days prior to the applicable delinquency date, or (ii) monthly in advance with the payment of the Minimum Base Rent. If Landlord elects to require payment monthly in advance, the monthly payment shall be an amount equal to the amount of the estimated installment of taxes divided by the number of months remaining before the month in which said installment becomes delinquent. When the actual amount of the applicable tax xxxx is known, the amount of such equal monthly advance payments shall be adjusted as required to provide the funds needed to pay the applicable taxes. If the amount collected by Landlord is insufficient to pay such Real Property Taxes when due, Tenant shall pay Landlord, upon demand, such additional sums as are necessary to pay such obligations. All moneys paid to Landlord under this Section may be intermingled with other moneys of Landlord and shall not bear interest. In the event of a default by Tenant in the performance of its obligations under this Lease, then any balance of funds paid to Landlord under the provisions of this Section may, at the option of Landlord, be treated as an additional Security Deposit.
Tenant’s Payment. Within three (3) business days following the full execution and delivery of this Amendment (“Payment Period”), Tenant shall pay to Landlord via wire transfer the amount of One Million Two Hundred Thousand and 00/100 Dollars ($1,200,000.00) (“Tenant's Payment”), time being of the essence. The parties expressly acknowledge that Tenant's Payment is given in consideration of Landlord's agreement to enter into this Amendment (including, without limitation, Landlord's agreement to waive the restoration requirements under the Lease and extend the Term of the Lease) and does not constitute a penalty.
