Term and Rental Rate Sample Clauses

Term and Rental Rate. This agreement commences with the delivery of the equipment and continues thereafter until the equipment is returned to the Lessor’s facility or otherwise terminated by Lessor. The applicable rental rate remains in effect regardless of the inability of the Lessee to use the equipment because of breakdown, weather conditions or any other cause. Lessor may substitute equipment under this agreement. The Lessee agrees to pay rentals for use of the equipment, at the applicable rate plus overtime charges for all hours in excess of 160 hours per month (defined as 28 days); 40 hours per week; 8 hours per day. Overtime will be charged based upon the monthly rental rate divided by 160 hours (40 for weekly and 8 for daily). In certain circumstances, if Xxxxxx commits to a longer term rental period, the standard rental rate has been discounted (“long term rate”). If a long-term rate applies and the equipment is returned before the expected return date on this contract (minimum rental commitment period), the effective rental rate reverts from the long- term rate to the standard rate. All rental rates are exclusive of charges for sales, usage or property taxes, freight and assembly, charges for delivery and return of the equipment and excessive equipment cleaning, if necessary. Excessive equipment cleaning is that which requires more than two hours to complete.
Sample 1
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Term and Rental Rate. This Agreement shall be effective as of the date of execution by both Parties and the initial term shall be for ten (10) years, which shall commence on the Commencement Date (as hereinafter defined) at which time the rental payments shall commence and be due at a total annual rental of _ Dollars ($ ) to be paid in equal monthly installments on the first day of the month, in advance, made payable to “Borough of Ship Bottom” and delivered or sent by regular mail to the Lessor’s Chief Financial Officer or to such other person, firm, or place as Lessor may, from time to time, designate in writing at least thirty (30) days in advance of any rental payment date by notice given in accordance with this Agreement. The Commencement Date shall be the first day of the calendar month following sixty (60) days from the date this Agreement is fully executed. 3.01.1. Upon agreement of the Parties, Lessee may pay rent by electronic funds transfer and in such event, Xxxxxx agrees to provide to Lessee bank routing information for such purpose upon request of Lessee. 3.01.2. This Agreement shall automatically be extended for three (3) additional five (5) year terms unless Lessee or Lessor terminates it at the end of the then current term by giving the other Party written notice of the intent to terminate at least six (6) months prior to the end of the then current term. 3.01.3. The annual rent shall increase at a rate of three percent (3.00%) per annum staring with the second year of the initial term and increasing three percent (3.00%) per annum for each subsequent year of the initial term, first renewal term, second renewal term, third renewal term, and fourth renewal term as follows. INITIAL TERM First Year – Annual Rent Set by Highest Bid (minimum $45,000.00) Second Year through Tenth Year – 3.00% per annum increase FIRST RENEWAL TERM First Year through Fifth Year – 3.00% per annum increase SECOND RENEWAL TERM First Year through Fifth Year – 3.00% per annum increase THIRD RENEWAL TERM First Year through Fifth Year – 3.00% per annum increase 3.01.4. As additional consideration, the Lessee shall pay to the Lessor the amount of $15,000.00 on or before the Commencement Date, which shall, inter alia, offset Lessor’s professional and staff costs relating to and/or arising out of this Agreement, related specifications, and award of this Agreement.
Sample 1
Term and Rental Rate. The first sentence shall be revised as follows: This License Agreement shall be for a period of fifteen (15) years commencing September 1, 2006 (the “Commencement Date”).
Sample 1
Term and Rental Rate. This License Agreement shall be for a period of one (1) year, commencing on the effective date (the date the City Manager executes the Antenna License Agreement). which is hereby acknowledged. The rental rate will be One Dollar ($1.00) per year, receipt of This License shall stand renewed on an annual basis unless either party gives the other party one hundred twenty (120) days written notice of termination prior to the end of any said term or as indicated in 2(a). (a) In addition, the CITY may terminate this License at any time, subject to the reason for termination described below in this subparagraph 2(b), by giving USF at least one hundred twenty (120) days written notice of termination prior to the stated date of termination. For the purposes of this subparagraph 2(a), the only reason for termination is when the CITY determines that the land upon which the antennas sit is required to be used for a public purpose, which is incompatible with USF's use under this License Agreement. By way of example and not limitation, a public purpose use would be the CITY’S need to use the area to make room for capital improvements required to fulfill a governmental purpose.
Sample 1

Related to Term and Rental Rate

  • Term and Rent Lessor demises the above premises for a term of twenty years, commencing January 1, 1993, and terminating o December 31, 2012, or sooner as provided herein at the annual rent of Twenty Four Thousand Dollars ($24,000.00), payable in equal installments in advance on the first day of each month for that month's rental, during the term of this lease. All rental payments shall be made to Lessor, at the address specified above.

  • Rental Rate The Lessee shall pay rent to the Lessor for the premises at the following rate: Payment shall be made at the end of each month upon submission of properly executed vouchers.

  • Rental Rates Schedules for (i) proposed rental rates on heavy construction equipment, and (ii) proposed wage rates of operating engineers. The Design-Builder firm shall certify that the proposal for rental rates and proposal for wage rates comply with the Contract Documents.

  • Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, in accordance with the Schedule of Base Rent attached hereto as EXHIBIT D ("Base Rental). Lessee shall also pay, as additional rent [or Forecast Additional Rent ], all such other sums of money as shall become due from and payable by Lessee to Lessor under this Lease (Base Rental, any adjustment thereto pursuant to Section 4 hereof, and all such other sums of money due from and payable by Lessee pursuant to this Lease are sometimes hereinafter 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 case of the nonpayment of Base Rental. The annual Base Rental, together with any adjustment or increase thereto then in effect, shall be due and payable in advance in twelve (12) equal installments on the first 1st day of each calendar month during the term of this Lease, and Lessee hereby agrees so to pay such Base Rental and any adjustment or increase 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) monthly, in advance, and without demand. If the term of this Lease commences on a day other than first (1st) 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, and the installment or installments so prorated shall be paid in advance. (b) In the event any installment of the Base Rental, or any other sums which may become owing by Lessee to Lessor under the provisions hereof are not received within Five (5) days after the due date thereof (without in any way implying Lessor's consent to such late payment), Lessee, to the extent permitted by law, agrees to pay, in addition to said installment of the Base Rental or such other sums owed, a late payment charge equal to ten percent (10%) (Late Fee) of the installment of the Base Rental or such other sums owed. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which have been advanced by Lessor to or for the benefit of Lessee pursuant to the provisions of this Lease, it being understood that such sums shall bear interest, which Lessee hereby agrees to pay to Lessor, at the lesser of fifteen percent (15%) per annum or the maximum rate of interest permitted by law to be charged Lessee for the use or forbearance of such money.

  • Basic Rental Tenant agrees to pay to Landlord during the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Term and Renewal This Agreement shall become effective as of the Effective Date and shall remain in effect for a period of three years from and after the Live Date (the “Initial Term”), and thereafter shall automatically renew for successive three year terms (each such period, a “Renewal Term”) unless terminated by any party giving written notice of non-renewal at least one hundred eighty days prior to the last day of the then current term to each other party hereto.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Term and Renewals This Agreement is effective February 1, 2017 (“Effective Date”) and will continue for three (3) years. The Agreement may be renewed by Citizens for one (1), three (3) year renewal period upon prior written notice to Firm.

  • Term and Renewal Options The term of service is 24 months (Initial Term). Following the expiration of the Initial Term, service under this option will continue on a month-to-month basis subject to the terms and conditions, including rates and discounts set forth under this option (Extension Term). The Company or the Customer may elect to forego the Extension Term by providing the other party written notice at least 60 days prior to the expiration of the Initial Term. Either party may terminate service during the Extension Term by providing the other party at least 60 days prior written notice. Term shall mean the Initial Term and the Extension Term.

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