Common use of TERM, RENT AND PAYMENT Clause in Contracts

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft and Lessee’s right to use the Aircraft begins on the date of the Certificate of Acceptance (“Commencement Date”). The term (“Term”) of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word “Term” shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Payment. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does not receive from Lessee payment in full of any Rent Payment or other payment due hereunder on or prior to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% of the amount due but not received within 10 days after the due date therefor, in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 2 contracts

Samples: Aircraft Lease Agreement, Aircraft Lease Agreement (Bristow Group Inc)

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TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for such Equipment (“Commencement Date”"LEASE COMMENCEMENT DATE"). The term (“Term”) of this Lease Agreement shall commence on be the Commencement Date and shall continue, unless earlier terminated pursuant to period specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule. If any Term term is extended or renewedextended, the word “Term” "TERM" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsextended terms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments Payments of rent shall be in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”)the applicable Schedule. If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is Rentals are payable, such Interim Rent and/or Advance Rent Rental shall be (i) set forth on Annex B and the applicable Schedule, (ii) due in accordance with the provisions upon acceptance by Lessor of Annex Bsuch Schedule, and (iii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B rent payment and any the balance, if any, shall be applied to the next scheduled Rent Paymentfinal rental payment(s) under such Schedule. In no event shall any Advance Rent, Interim Rent Rental or any other Rent Payment rent payments be refunded to Lessee. If Lessor does rent is not receive from paid within ten days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, rent but not exceeding the lawful maximum, if any. Such late fee . (c) So long as no default shall have occurred and be continuing under the terms of this agreement, neither Lessor nor its agents, employees, creditors, or assigns will be immediately due disturb Lessee's quiet, peaceful and payable uninterrupted possession of the Equipment during the term of this Lease and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentLessee's uninterrupted use thereof for its intended purpose.

Appears in 2 contracts

Samples: Master Lease Agreement (Millennium Pharmaceuticals Inc), Master Lease Agreement (Guilford Pharmaceuticals Inc)

TERM, RENT AND PAYMENT. (a) The rent payable hereunder (the "Rent") payable for and the Aircraft and relevant Lessee’s 's right to use the Aircraft begins Equipment shall commence on the date of execution by such Lessee of the Certificate of Acceptance for such Equipment ("Lease Commencement Date"). The term (the "Term") of this Lease Agreement and for the initial Schedule executed hereunder (the "Initial Schedule") shall commence on the Lease Commencement Date for the Initial Schedule and, if this Agreement is executed in the first day of any month, shall end on the last day of the forty- eighth (48th) month thereafter, otherwise it shall end on the last day of the forty-ninth (49th) month thereafter (the "Expiration Date"). The Term of all other Schedules shall commence on the Lease Commencement Date of such Schedule and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including end on the Expiration Date stated in Annex B. If any Term is extended or renewed, the word “Term” shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writingDate. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated above, except by wire transfer of immediately available funds to: any account as Lessor may direct in writing and otherwise directed by Lessoras provided in the applicable Schedule; and shall be effective upon receipt. Payments of Rent payments shall be in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Paymentapplicable Schedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment payments be refunded to LesseeLessees. If Lessor does Rent is not receive from Lessee payment in full paid within ten (10) days of any Rent Payment or other payment its due hereunder on or prior date, Lessees agree to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforFive Cents ($0.05) per dollar on, and in addition to, the unpaid amount of such Rent PaymentRent, but not exceeding the lawful maximum, if any. Such late On the Lease Commencement Date for each Schedule, Lessees shall pay to Lessor a funding fee will in an amount equal to 1.25% of the Capitalized Lessor's Cost with respect to the Equipment described in such Schedule. All payments due under this Agreement, whether or not specifically denominated as Rent shall be immediately due and payable and is collectible in addition to any other costs, fees and expenses Lessee may owe the same manner as a result of such late paymentRent.

Appears in 2 contracts

Samples: Master Lease Agreement (Specialty Foods Acquisition Corp), Master Lease Agreement (Specialty Foods Corp)

TERM, RENT AND PAYMENT. (a) The rent payable hereunder (“Rent”the "RENT") payable for the Aircraft and Lessee’s 's right to use the Aircraft begins any Unit of Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for such Unit of Equipment (“Commencement Date”each such date, a "LEASE COMMENCEMENT DATE"). The term (“Term”) of this Lease Agreement with respect to any Unit of Equipment (the "TERM") shall commence on be the Commencement Date and shall continue, unless earlier terminated pursuant to period specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule. If any Term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Termsrenewed terms, and all provisions of this Lease Agreement shall apply during any such extension extended or renewal Termsrenewed terms, except as otherwise may be otherwise specifically provided in writing. (b) Lessee shall pay rent to Lessor at its address stated above, except as otherwise directed by Lessor. Payments of Rent payments shall be in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Paymentapplicable Schedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment payments be refunded to Lessee unless such Rent Payments were made in error. Any Rent or other amount not paid to Lessor when due hereunder shall bear interest, both before and after any judgment or termination hereof, at the lesser of the Default Rate or the maximum rate allowed by law. (c) This Agreement is a net lease. Lessee's obligation to pay Rent and other amounts due hereunder shall be absolute and unconditional. Lessee shall not be entitled to any abatement or reductions of, or set-offs against, said Rent or other amounts, including, without limitation, those arising or allegedly arising out of claims (present or future, alleged or actual, and including claims arising out of strict liability in tort or negligence of Lessor) of Lessee against Lessor under this Agreement or otherwise. Except as expressly provided herein or in the Facilities Agreement, this Agreement shall not terminate and the obligations of Lessee shall not be affected by reason of any defect in or damage to, or loss of possession, use or destruction of, any Equipment from whatsoever cause. It is the intention of the parties that Rents and other amounts due hereunder shall continue to be payable in all events in the manner and at the times set forth herein unless the obligation to do so shall have been terminated pursuant to the express terms hereof or the Facilities Agreement. Nothing in this Section 2(c) shall prevent Lessee from pursuing any claims against Lessor in a separate cause of action. (d) It is the intention of the parties to comply with any applicable usury laws. Accordingly, it is agreed that, notwithstanding any provision to the contrary herein or in any related document, in no event shall any Operative Document require the payment or permit the collection of interest in excess of the maximum amount permitted by Applicable Law. If Lessor does not receive any such excess interest is contracted for, charged or received under any Operative Document, or in the event that all of the principal balance shall be prepaid, so that under any of such circumstances the amount of interest contracted for, charged or received under any Operative Document shall exceed the maximum amount of interest permitted by Applicable Law, then in such event (1) the provisions of this Section shall govern and control, (2) neither Lessee nor any other person or entity now or hereafter liable for the payment thereof shall be obligated to pay the amount of such interest to the extent that it is in excess of the maximum amount of interest permitted by Applicable Law, (3) any such excess which may have been collected shall be either applied as a credit against the then unpaid principal balance or refunded to Lessee, at the option of Lessor, and (4) the effective rate of interest automatically shall be reduced to the maximum lawful contract rate allowed under Applicable Law as now or hereafter construed by the courts having jurisdiction thereof. It is further agreed that, without limitation of the foregoing, all calculations of the rate of interest contracted for, charged or received under any Operative Document which are made for the purpose of determining whether such rate exceeds the maximum lawful contract rate, shall be made, to the extent permitted by Applicable Law, by amortizing, prorating, allocating and spreading in equal parts during the period of the full stated term of the indebtedness evidenced thereby, all interest at any time contracted for, charged or received from Lessee or otherwise by Lessor in connection with such indebtedness; provided, however, that if any applicable state law is amended or the law of the United States of America preempts any applicable state law, so that it becomes lawful for Lessor to receive a greater interest per annum rate than is presently allowed under Applicable Law, Lessee agrees that, on the effective date of such amendment or preemption, as the case may be, the lawful maximum under the Operative Documents shall be increased to the maximum interest per annum rate allowed by the amended state law or the law of the United States of America (but not in excess of the applicable interest rate contemplated under the Operative Documents). (e) All payments payable by Lessee hereunder shall be paid to Lessor by wire transfer of immediately available funds to Bankers Trust Xxx Xxxx, Xxx Xxxx, Xxx Xxxx 00000, Account No. 50- 260-660, ABA No. 000-000-000, Attention: Account Manager - Aladdin Gaming, or to such other account as Lessor may direct in writing; and shall be effective upon receipt. All payments shall be made not later than 12:00 Noon New York time on the day when due. If any payment date is not a Business Day, the amount otherwise due on such date shall be payable on the immediately succeeding Business Day (provided that such delay shall be included in full calculating the interest due). (f) Lessee irrevocably waives the right to direct the application of any Rent Payment and all payments at any time or times hereafter received by Lessor from or on behalf of Lessee, and Lessee irrevocably agrees that Lessor shall have the continuing exclusive right to apply any and all such payments then due and payable to Obligations of Lessee as Lessor may deem advisable. In the absence of a specific determination by Lessor with respect thereto, the same shall be applied in the following order: (1) then due and payable Fees and expenses of Lessor; (2) then due and payable interest payments with respect to the Obligations; (3) Obligations to Lessor other payment than Fees, expenses and interest and principal payments; and (4) then due hereunder on or and payable principal payments with respect to the Obligations. Notwithstanding the foregoing, prior to the due date thereofoccurrence of an Event of Default, all payments made by Aladdin Gaming specifically identified as being made with respect to the Lease Facility shall be applied only to those Obligations relating to the Lease Facility. (1) If Lessor shall determine (which determination shall, upon notice thereof to Lessee, be conclusive and binding) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for Lessor to make, continue or maintain any Funding as, or to convert any Funding into, a LIBOR Rate Funding, the obligations of Lessor to make, continue, maintain or convert any such LIBOR Rate Funding shall, upon such determination, forthwith be suspended until Lessor shall notify Lessee that the circumstances causing such suspension no longer exist, and the interest rate then Lessee applicable with respect to the calculation of rent automatically shall pay change to Lessor a late fee equal to 3% the interest rate specified in Section C.1.(y) of the amount due but not received within 10 days after applicable Schedule, at the due date thereforend of the then current Interest Period with respect thereto, in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximumor sooner, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of required by such late paymentlaw or assertion. (2) If Lessor shall have determined that:

Appears in 2 contracts

Samples: Facilities Agreement (Aladdin Gaming Enterprises Inc), Facilities Agreement (Aladdin Capital Corp)

TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins shall commence on the date of execution by Lessee of the Certificate of Acceptance ("Commencement Date"). The term ("Term") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Leasehereof, until and including the Expiration Date stated in Annex B. If any Term term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease shall apply during any such extension or renewal Termsterms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated above, except as otherwise directed by Lessor. Payments of Rent payments shall be in the amount, payable at such intervals and shall be due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a "Rent Payment”). ".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within ten (10) days of Lessor's written demand, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Service Merchandise Co Inc)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable Lessee hereby agrees to pay Lessor the Basic Term Rent for the Aircraft Equipment throughout the Basic Term applicable thereto in monthly installments payable in advance on each Rent Payment Date as set forth in the Schedule. The Basic Term Rent shall be calculated in accordance with Section E of Exhibit No. 1. The Basic Term Rent payable hereunder and Lessee’s right to use the Aircraft begins Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for the Equipment and the satisfaction of the conditions in Section 1(b) above (to the extent not waived by the Lessor) (“Basic Term Commencement Date”)) pursuant to this Agreement. The term (“Term”) of this Lease Agreement shall commence on be the Commencement Date and shall continue, unless earlier terminated pursuant to period specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. Schedule. If any Term is extended or renewedextended, the word “Term” shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsextended terms, except as otherwise may be otherwise specifically provided in writing. If any Rent Payment Date is not a Business Day, the Basic Term Rent otherwise due on such date shall be payable on the immediately preceding Business Day. The Basic Term Rent due and payable under the Schedule shall also represent and be the amount of rent for which Lessee becomes liable on account of the use of the Equipment for the period beginning on each Rent Payment Date and ending on the immediately succeeding Rent Payment Date, and shall therefore constitute the rent allocated to such rental periods within the meaning of Treasury Regulations Section 1.467-1(c)(2)(ii). Lessee hereby agrees to pay to Lessor any and all Supplemental Rent when and as the same shall become due and owing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated aboveby wire transfer of immediately available funds in United States Dollars to: Bank: Deutsche Bank Branch: New York Bank Account #: 00000000 ABA: 000000000 Account Name: Gossamer Holdings, except LLC Customer: Polymer Group, Inc. or to such other account as otherwise directed by Lessor may direct in writing; and shall be effective upon receipt. All such accounts shall be under the full dominion and control of Lessor. Payments of Basic Term Rent payments shall be in the amountamount set forth in, payable at such intervals and due and allocated in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent PaymentSchedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment payments be refunded to Lessee. If Lessor does not receive from Conformed Copy through Second Amendment dated October 7, 2011 (c) At such time as Stipulated Loss Value (or an amount determined by reference thereto) shall be payable hereunder, the amount payable by Lessee payment in full of any Rent Payment or other payment due hereunder on or prior shall be calculated by reference to Annex C to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% of Schedule for the amount due but not received within 10 days after the due date therefor, in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentaffected Equipment.

Appears in 1 contract

Samples: Equipment Lease Agreement (Dominion Textile (Usa), L.L.C.)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for such Equipment (“Commencement Date”"LEASE COMMENCEMENT DATE"). The term (“Term”) of this Lease Agreement for any Equipment shall commence on be the Commencement Date and shall continue, unless earlier terminated pursuant to period specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule for such Equipment. If any Term term is extended or renewedextended, the word “Term” "term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsextended terms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated above, except as otherwise directed by LessorLessor in writing. Rent payments Payments of rent shall be in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”)the applicable Schedule. If any Interim Rent one or more Advance Rent(s) (as defined specified in Annex BSchedule) or Advance Rent (as defined in Annex B) is are payable, such Interim Rent and/or Advance Rent Rent(s) shall be (i) set forth on Annex B and the applicable Schedule, (ii) due in accordance with the provisions upon acceptance by Lessor of Annex Bsuch Schedule, and (iii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B rent payment and any the balance, if any, shall be applied to the next scheduled Rent Paymentfinal rental payment(s) under such Schedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment rent payments be refunded to Lessee. If Lessor does rent is not receive from paid within ten days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% of the amount due but not received within 10 days after the due date thereforcharge of* on, and in addition to, the unpaid amount of such Rent Payment, rent but not exceeding the lawful maximum, if any. (c) Rent payments under any Schedule shall be allocated proportionately to the Equipment on such Schedule on the basis of the values assigned to each unit of such Equipment on Annex A to such Schedule, provided that such allocation shall not be interpreted to allow Lessee to make partial payment or to partially terminate this Agreement, except as otherwise permitted hereunder (d) All Rent and other payments to be paid under this Lease to Lessor shall be paid in U.S. currency and without any deduction or withholding for, or on account of, any domestic or foreign taxes. Such late fee will If under applicable law, any Rent or other sum cannot be immediately due paid without a deduction or withholding, then Lessee shall increase such Rent or other payment to Lessor so that the net amount received by Lessor after such deduction or withholding (and payable and is in addition to the payment of any other costs, fees and expenses Lessee may owe amount that must be deducted or withheld as a result of such late paymentincrease) shall be equal to the full amount that Lessor would have received had such Rent or other payment not been subject to any deduction or withholding.

Appears in 1 contract

Samples: Master Lease Agreement (North American Vaccine Inc)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”"RENT") payable for the Aircraft and Lessee’s 's right to use the Aircraft begins on the date of Lessee signs the Certificate of Acceptance (“Commencement Date”"COMMENCEMENT DATE"). The term (“Term”"TERM") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word “Term” "TERM" shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). "RENT PAYMENT".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within fifteen (15) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Restaurant Co)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) Rent payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins any Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for such Equipment (the "Basic Term Commencement Date"). The term (“Term”) of this Lease Agreement (the "Term") as to any Equipment shall commence be the period specified in the applicable Schedule for such Equipment; provided that the term of all Schedules shall end on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. same date. If any Term is extended or renewedextended, the word "Term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsextended term, except as otherwise may be otherwise specifically provided in writingwriting by Lessee, Lessor and the Operating Agent. The maximum Term, including all extensions, shall not exceed six (6) years. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated aboveby wire transfer of immediately available funds to: Bankers Trust Xxx Xxxx, except Xxx Xxxx, Xxx Xxxx 00000, Account No. 00000000, ABA No. 000-000-000, Reference: FATICO 1999 Trust Collection Account #29195, or to such other account as otherwise directed by the Collateral Agent (or, after all amounts payable to the Edison Program Parties hereunder and under the Financing Documents have been paid in full in cash, Lessor. Rent payments ) may direct in writing; and shall be effective upon receipt. Payments of Rent shall be paid monthly in arrears in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Paymentapplicable Schedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment payments be refunded to Lessee. If Lessor does Rent is not receive from paid within three (3) Business Days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforFive Cents ($0.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximumMaximum Lawful Rate, if any. (c) This Agreement is a net lease. Such late fee will Lessee's obligation to pay Rent and other amounts due hereunder shall be immediately due absolute and payable and is in addition unconditional. Lessee shall not be entitled to any abatement or reductions of, or set-offs against, said Rent or other costsamounts, fees including, without limitation, those arising or allegedly arising out of claims (present or future, alleged or actual, and expenses including claims arising out of strict liability in tort or negligence of Lessor or any Edison Program Party) of Lessee may owe as a result against Lessor or any Edison Program Party under this Agreement or otherwise. This Agreement shall not terminate and the obligations of such late paymentLessee shall not be affected by reason of any defect in or damage to, or loss of possession, use or destruction of, any Equipment from whatsoever cause. It is the intention of the parties that Rents and other amounts due hereunder shall continue to be payable in all events in the manner and at the times set forth herein unless the obligation to do so shall have been terminated pursuant to the express terms hereof.

Appears in 1 contract

Samples: Master Lease Agreement (First American Financial Corp)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”"RENT") payable for the Aircraft under this Lease and Lessee’s 's right to use the Aircraft begins shall commence on the date Insured Aircraft Title Service files with the FAA the executed xxxx of sale and Aircraft Registration Form and Lessee executes the Certificate of Acceptance (“Commencement Date”"COMMENCEMENT DATE"). The term (“Term”"TERM") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor by Lessee at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). "RENT PAYMENT".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does not receive from Rent is hot paid within ten (10) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfour cents ($.04) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Centene Corp)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft and Lessee’s right to use the Aircraft begins on the date of the Certificate of Acceptance (“Commencement Date”). The term (the "Term") of this Lease for each Item shall commence on the Commencement Date date (the "Acceptance Date") Lessee executes a Delivery and shall continueAcceptance Certificate (an "Acceptance Certificate") therefor and, unless earlier sooner terminated pursuant to Section 8 or 16, shall continue for the provisions of this Lease, until and including period specified as the Expiration Date stated "Term" in Annex B. the applicable Schedule. If any Term shall be extended, or this Lease is extended or renewedrenewed pursuant to a renewal option, the word "Term" shall be deemed to refer to include all extended or renewal Termssuch extensions and renewals, and all provisions of this Lease shall apply during any such all extension or and renewal Termsperiods, except as may be otherwise specifically provided in writinga subsequent written agreement. (b) Lessee agrees to pay to Lessor's order basic rent ("Basic Rent") for each Item in the amount therefor set forth in the applicable Schedule. The first Basic Rent payment shall pay rent be due on the day of the month specified in such Schedule. (If the applicable Schedule specifies that Rent (as defined below) is to Lessor at its address stated abovebe paid in advance, except as otherwise directed by Lessor. such date shall be the "Commencement Date." If the applicable Schedule specifies that Rent is to be paid in arrears, the "Commencement Date" shall be the first day of the first calendar month immediately following the Acceptance Date".) Subsequent Basic Rent payments shall be in made monthly on the amount, payable at such intervals and due in accordance with same day of each month thereafter. If the provisions of Annex B. (Each payment of applicable Schedule specifies that Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined be paid in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Payment. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does not receive from Lessee payment in full of any Rent Payment or other payment due hereunder on or prior to the due date thereofadvance, then on the Acceptance Date, Lessee shall pay to Lessor a late fee equal to 3% of as interim rent for each Item the amount due but not received within 10 days after specified therefor in the due date thereforSchedule. If the applicable Schedule specifies that Rent is to be paid in arrears, then on the Commencement Date for that Schedule, Lessee shall pay to Lessor as interim rent for each Item the amount specified therefor in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if anySchedule. Such late fee will interim rent (in either case, "Interim Rent") shall cover the period from the Acceptance Date through the day immediately EXHIBIT 10(oo) preceding the Commencement Date. Any payment due on a day which is not a business day shall be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentmade on the following business day.

Appears in 1 contract

Samples: Master Lease Agreement (Tuboscope Vetco International Corp)

TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft and Lessee’s 's right to use the Aircraft begins on the date of Lessee signs the Certificate of Acceptance ("Commencement Date"). The term ("Term") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including expiration date of the Expiration Date stated in Annex B. Basic Term and any extensions or renewal term, as applicable. If any Term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent Rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a "Rent Payment”). ".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within ten (10) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Mandalay Resort Group)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft and Lessee’s right to use the Aircraft begins on the date of the Certificate of Acceptance (“Commencement Date”)2.1. The base term (the "Base Term") of this Lease as to each Unit shall commence on the Commencement Delivery Date and continue for a period of one year from the Delivery Date. So long as no Default or Event of Default has occurred and is continuing, Lessee may renew this Lease for all, but not less than all, of the Units at the end of the Base Term and each previous Renewal Term for a period of one year (each, a "Renewal Term", and together with the Base Term, the "Term"), provided that in no event shall continuethe Term exceed nine (9) years from the Delivery Date. Lessee may exercise its option to extend this Lease for a Renewal Term by delivering written notice of such exercise to the Owner Trustee not less than three (3) months prior to the then scheduled termination date, which notice shall be irrevocable. At the end of the Term, Lessee shall fulfill its obligations set forth in Paragraph E in Schedule II. 2.2. Lessee shall pay to Owner Trustee for the account of Owner Participants rental for each Unit in the amounts and at the times set forth in Paragraph C of Schedule II hereto. 2.3. Rent and all other sums due Owner Trustee hereunder shall be paid in immediately available funds at the office of Owner Trustee specified for receipt of notices in Section 21 (the "Owner Trustee's Office"). Sums due directly to an Owner Participant hereunder shall be paid in immediately available funds: (i) if such sum is a payment under Section 5 or 7.2, to such Owner Participant at such office of that Owner Participant as it from time to time specifies to Lessee herein or in a notice pursuant to this Lease; and (ii) if such sum is a payment due under any other provision of this Lease, to Owner Trustee as provided in the foregoing sentence. Notwithstanding the foregoing, so long as GECC is the only Owner Participant, GECC and the Owner Trustee hereby direct Lessee to make payment of rent and other amounts due to the Owner Trustee at GECC's account set forth on Schedule I hereto. 2.4. This Lease is a net lease and Lessee's obligation to pay all rental, indemnity and other amounts payable hereunder shall be absolute and unconditional under any and all circumstances and, without limiting the generality of the foregoing, Lessee shall not be entitled to any abatement or reduction of rent or any setoff against rent, indemnity or other amount, whether arising by reason of any past, present or future claims of any nature by Lessee against any Owner Participant or Owner Trustee or the registered holder of any interest in this Lease, or otherwise, or any right to delay the payment thereof. Except as otherwise expressly provided herein, this Lease shall not terminate, nor shall the obligations of Lessee be otherwise affected, (a) by reason of any defect in, damage to, or loss of possession or use, obsolescence or destruction, of any or all of the Units, however caused, or (b) by the taking or requisitioning of any or all of the Units or the Satellite by condemnation or otherwise, or (c) by the invalidity or unenforceability or lack of due authorization by any Owner Participant, Lessee or Owner Trustee or other infirmity of this Lease, or (d) by lack of power or authority of any Owner Participant or Owner Trustee to enter into this Lease, or (e) by the attachment of any lien, encumbrance, security interest or other right or claim of any third party to any Unit, or (f) by any prohibition or restriction of or interference with Lessee's use of any or all of the Units by any person or entity, or (g) by the insolvency of or the commencement by or against Lessee, Owner Trustee or any Owner Participant of any bankruptcy, reorganization or similar proceeding, or (h) by any act of God, force majeure or other cause, whether similar or dissimilar to the foregoing, any present or future law to the contrary notwithstanding. It is the intention of the parties that all rent, indemnities and other amounts payable by Lessee hereunder shall be payable in all events in the manner and at the times herein provided unless earlier Lessee's obligations in respect thereof have been terminated or modified pursuant to the express provisions of this Lease. To the extent permitted by applicable law, until Lessee waives any and all rights which it may now have or which may at any time be conferred upon it, by statute or otherwise, to terminate, cancel, quit or surrender this Lease, in whole or in part, except strictly in accordance with the express terms hereof. Each rental, indemnity or other payment made by Lessee hereunder shall be final, and Lessee shall not seek to recover (except as expressly provided in this Lease) all or any part of such payment from any Owner Participant or Owner Trustee for any reason whatsoever. 2.5. Lessee shall pay promptly upon receipt of an invoice therefor all reasonable out-of-pocket costs and expenses of each Owner Participant and Owner Trustee (including the Expiration Date stated reasonable fees and disbursements of Mayer, Brown & Platt, as spexxxx coxxxxx to Xxxxr Participant and the reasonable fees and disbursements of Shipman & Goodwin LLP, as spxxxxx xounxxx xx the Owner Trustee) in Annex B. If connection with (a) the negotiation, preparation, execution and delivery of the Pertinent Documents and schedules, certificates and exhibits thereto (including, without limitation, appraisal expenses), or entering into, or giving or withholding of, any Term future amendments, waivers, consents, supplements or other modifications to any of the Pertinent Documents, whether or not such amendment, modification, consent or waiver is extended or renewed, the word “Term” shall be deemed to refer to all extended or renewal Terms, executed and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing.delivered, (b) Lessee shall pay rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in any Casualty Occurrence or early termination under this Lease, (c) any Event of Default or the amount, payable at such intervals enforcement or preservation of any rights or remedies of any Owner Participant or Owner Trustee under the Pertinent Documents, (d) the preparation and due in accordance with review of the provisions form of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) document or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied instrument relevant to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Payment. In no event shall any Advance Rent, Interim Rent or any Pertinent Documents, (e) all other Rent Payment be refunded to Lessee. If Lessor does not receive from Lessee payment in full of any Rent Payment or other payment due hereunder on or prior to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% of the amount due but not received within 10 days after the due date therefor, in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, administrative fees and expenses payable to third parties relating to the Pertinent Documents, including the initial and on-going fees of the Owner Trustee, or (f) any transfer (i) by Owner Trustee of any of its interests in this Lease to any successor or (ii) by any Owner Participant of any of its interests in the Trust Estate if any Event of Default exists. Lessee may owe as a result shall indemnify, defend and hold harmless Owner Trustee and each Owner Participant against any and all costs, expenses, damages and liabilities paid, incurred or asserted to be due for or in connection with any and all brokerage or finder's fees and commissions payable or claimed to be payable to any Person in connection with any of such late paymentthe transactions contemplated by the Pertinent Documents.

Appears in 1 contract

Samples: Lease (General Communication Inc)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for such Equipment (“Commencement Date”"LEASE COMMENCEMENT DATE"). The term (“Term”) of this Lease Agreement shall commence on be the Commencement Date and shall continue, unless earlier terminated pursuant to period specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule. If any Term term is extended or renewedextended, the word “Term” "TERM" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsextended terms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor lessor at its address stated above, except as otherwise directed by Lessor. Rent payments Payments of rent shall be in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”)the applicable Schedule. If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is Rentals are payable, such Interim Rent and/or Advance Rent Rental shall be (i) set forth on Annex B and the applicable Schedule, (ii) due in accordance with the provisions upon acceptance by Lessor of Annex Bsuch Schedule, and (iii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B rent payment and any the balance, if any, shall be applied to the next scheduled Rent Paymentfinal rental payment(s) under such Schedule. In no event shall any Advance Rent, Interim Rent Rental or any other Rent Payment rent payments be refunded to Lessee. If Lessor does rent is not receive from paid within ten days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, rent but not exceeding the lawful maximum, if any. Such late fee . (c) So long as no default shall have occurred and be continuing under the terms of this agreement, neither Lessor nor its agents, employees, creditors, or assigns will be immediately due disturb Lessee's quiet, peaceful and payable uninterrupted possession of the Equipment during the term of this Lease and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentLessee's uninterrupted use thereof for its intended purpose.

Appears in 1 contract

Samples: Master Lease Agreement (Morton Industrial Group Inc)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft and Lessee’s right to use the Aircraft begins on the date of the Certificate of Acceptance (“Commencement Date”). 2.1 The term (“Term”) of this Lease as to each Unit shall commence on the Commencement Delivery Date in respect thereof and shall continue, unless earlier terminated pursuant to continue as specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word “Term” shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writingapplicable Schedule. (b) 2.2 Lessee shall pay rent to Lessor, at the principal office of Lessor set forth above or at its address stated abovesuch other location as Lessor may designate in writing, except as otherwise directed by Lessor. Rent payments shall be rental for each Unit in the amount, payable amounts and at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be times set forth in the applicable Schedule. Lessee shall pay to Lessor, on Annex B and demand, interest at the rate set forth in the applicable Schedule on the amount of any rental payment or other payment not made when due in accordance with under this Lease from the provisions of Annex B, and when date due until payment is received by Lessor. 2.3 An amount equal to one rental payment for all of the Units Lessee desires to lease pursuant to a Schedule must accompany each such Schedule executed by Lessee and submitted to Lessor for acceptance. If Lessor accepts and executes such Schedule, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent said amount shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Payment. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lesseerental payment due thereunder. If Lessor does not receive from accept such Schedule, said amount will be returned to Lessee. 2.4 This Lease is a net lease, and Lessee payment in full shall not be entitled to any abatement or reduction of rent or any setoff against rent, whether arising by reason of any Rent Payment past, present or future claims of any nature by Lessee against Lessor or otherwise. Except as otherwise expressly provided herein, this Lease shall not terminate, nor shall the obligations of Lessor or Lessee be otherwise affected by reason of any defect in, damage to, loss of possession or use or destruction of any Unit, however caused, by the attachment of any lien, encumbrance, security interest or other payment due hereunder on claim of any third party to any Unit, by any restriction of or prior interference with Lesseeís use of any Unit, or by the insolvency of or the commencement by or against Lessee of any bankruptcy, reorganization or similar proceeding, or for any cause, whether similar of dissimilar to the due date thereofforegoing, then Lessee shall pay any present or future law to Lessor a late fee equal to 3% the contrary notwithstanding. It is the intention of the amount due but not received within 10 days after parties that all rent and other amounts payable by Lessee hereunder shall be payable in all events in the due date therefor, manner and at the times herein provided unless Lesseeís obligations in addition to, respect thereof have been terminated pursuant to the unpaid amount express provisions of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentthis Lease.

Appears in 1 contract

Samples: Master Tax Lease

TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft and Lessee’s 's right to use the Aircraft begins on the date of Lessee signs the Certificate of Acceptance ("Commencement Date"). The term ("Term") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. expiration date of the Basic Term, and extension or renewal term, as applicable. If any Term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent Rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a "Rent Payment”). ".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within ten (10) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Mandalay Resort Group)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable Lessee hereby agrees to pay Lessor the Basic Term Rent for the Aircraft Equipment throughout the Basic Term applicable thereto in monthly installments payable in advance on each Rent Payment Date as set forth in the Schedule. The Basic Term Rent shall be calculated in accordance with Section E of Exhibit No. 1. The Basic Term Rent payable hereunder and Lessee’s right to use the Aircraft begins Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for the Equipment and the satisfaction of the conditions in Section 1(b) above (to the extent not waived by the Lessor) (“Basic Term Commencement Date”)) pursuant to this Agreement. The term (“Term”) of this Lease Agreement shall commence on be the Commencement Date and shall continue, unless earlier terminated pursuant to period specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. Schedule. If any Term is extended or renewedextended, the word “Term” shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsextended terms, except as otherwise may be otherwise specifically provided in writing. If any Rent Payment Date is not a Business Day, the Basic Term Rent otherwise due on such date shall be payable on the immediately preceding Business Day. The Basic Term Rent due and payable under the Schedule shall also represent and be the amount of rent for which Lessee becomes liable on account of the use of the Equipment for the period beginning on each Rent Payment Date and ending on the immediately succeeding Rent Payment Date, and shall therefore constitute the rent allocated to such rental periods within the meaning of Treasury Regulations Section 1.467-1(c)(2)(ii). Lessee hereby agrees to pay to Lessor any and all Supplemental Rent when and as the same shall become due and owing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated aboveby wire transfer of immediately available funds in United States Dollars to: Bank: Deutsche Bank Branch: New York Bank Account #: 00000000 ABA: 000000000 Account Name: Gossamer Holdings, except LLC Customer: Polymer Group, Inc. or to such other account as otherwise directed by Lessor may direct in writing; and shall be effective upon receipt. All such accounts shall be under the full dominion and control of Lessor. Payments of Basic Term Rent payments shall be in the amountamount set forth in, payable at such intervals and due and allocated in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent PaymentSchedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment payments be refunded to Lessee. If Lessor does not receive from . (c) At such time as Stipulated Loss Value (or an amount determined by reference thereto) shall be payable hereunder, the amount payable by Lessee payment in full of any Rent Payment or other payment due hereunder on or prior shall be calculated by reference to Annex C to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% of Schedule for the amount due but not received within 10 days after the due date therefor, in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentaffected Equipment.

Appears in 1 contract

Samples: Equipment Lease Agreement (Polymer Group Inc)

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TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft and Lessee’s 's right to use the Aircraft begins on the date of Lessee signs the Certificate of Acceptance ("Commencement Date"). The term ("Term") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a "Rent Payment"). If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent Payment. Payment(s), in inverse order of maturity, In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within ten (10) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, maximum if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Smart Choice Automotive Group Inc)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable Lessee hereby agrees to pay Lessor the Basic Term Rent for the Aircraft Facility and each Unit throughout the Basic Term applicable thereto in quarterly installments payable on each Rent Payment Date as set forth in the applicable Schedule. The Basic Term Rent shall be calculated in accordance with Section "E" of Exhibit No. 1. The Basic Term Rent payable hereunder and Lessee’s 's right to use the Aircraft begins Facility and any Unit shall commence on the date of execution by Lessee of the Certificate of Acceptance for the Facility and such Unit ("Basic Term Commencement Date”)") pursuant to this Agreement. The term (“Term”) of this Lease Agreement (the "Term") shall commence on be the Commencement Date and shall continue, unless earlier terminated pursuant to period specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule. If any Term is extended or renewedextended, the word "Term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsextended terms, except as otherwise may be otherwise specifically provided in writing. If any Rent Payment Date is not a Business Day, the Basic Term Rent otherwise due on such date shall be payable on the immediately preceding Business Day. The Basic Term Rent due and payable under any Schedule shall also represent and be the amount of rent for which Lessee becomes liable on account of the use of the Equipment for the period beginning on each Rent Payment Date, and shall therefore constitute the rent allocated to such rental periods within the meaning of Treasury Regulations Section 1.467-1(c)(2)(ii). Lessee hereby agrees to pay to Lessor any and all Supplemental Rent when and as the same shall become due and owing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated aboveby wire transfer of immediately available funds in United States Dollars to: Deutsche Bank Trust Company Americas, except Account No. 00000000, ABA No. 000000000, Account Name: GE Capital de Mexico, S. de X.X. de C.V., Reference: 2005 Xxxxxxx & Xxxxxx Hermosillo Lease, Customer: Xxxxxxx & Xxxxxx Automotive Xxxxxxxxxx, X.X. de C.V., or to such other account as otherwise directed by Lessor may direct in writing; and shall be effective upon receipt. All such accounts shall be under the full dominion and control of Lessor. Payments of Basic Term Rent payments and periodic Rent with respect to any Renewal Term shall be in the amountamount set forth in, payable at such intervals and due and allocated in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Paymentapplicable Schedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment payments be refunded to Lessee. If Lessor does not receive from . (c) At such time as Stipulated Loss Value (or an amount determined by reference thereto) shall be payable hereunder, the amount payable by Lessee payment in full of any Rent Payment or other payment due hereunder on or prior shall be calculated by reference to Annex C to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% of applicable Schedule for the amount due but not received within 10 days after the due date therefor, in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentaffected Facility or Unit.

Appears in 1 contract

Samples: Master Lease Agreement (Collins & Aikman Corp)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”"RENT") payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins shall commence on the date of execution by Lessee of the Certificate of Acceptance (“Commencement Date”"COMMENCEMENT DATE"). The term (“Term”"TERM") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Leasehereof, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated above, except as otherwise directed by Lessor. Payments of Rent payments shall be in the amount, payable at such intervals and shall be due in accordance with the provisions of Annex annex B. (Each payment of Rent rent is hereinafter referred to as a "Rent Payment”). ".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within ten (10) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents (50) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Autocam Corp/Mi)

TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft Equipment and Lessee’s 's right to use the Aircraft begins Equipment shall begin on the earlier of (i) the date of when Lessee signs the Schedule and accepts the Equipment or (ii) when Lessee has accepted the Equipment under a Certificate of Acceptance ("Lease Commencement Date"). The term (“Term”) of this the Lease for any Equipment shall commence on the Basic Lease Commencement Date and shall continue, unless earlier cancelled or terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule (the "Term"). If any Term term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsterms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent to Lessor at its address stated above, except as unless otherwise directed by Lessor. Each payment of Rent payments (each a "Rent Payment") shall be in the amountamount set forth in, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”)the applicable Schedule. If any Interim Rent (as defined in Annex B) or and/or any Advance Rent (as defined is payable in Annex B) is payablerespect of any Equipment, such Interim Rent and/or Advance Rent shall be set forth on Annex B in the applicable Schedule and shall be due and payable in accordance with the provisions terms of Annex Bthe Schedule. Upon Lessor's receipt of the Interim Rent and the Advance Rent, and when received by Lessor, such (i) the Interim Rent shall be applied to the Rent Payment due for the Interim Period as Period, if any, set forth on Annex B in the Schedule, and such (ii) the Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B due for the Basic Term, and any (iii) the remaining balance, if any, shall be applied to the next scheduled Rent PaymentPayment under such Schedule. In no event shall any Advance Interim Rent, Interim Advance Rent or any other Rent Payment Payments be refunded to Lessee. If Lessor does not receive from Lessee payment in full of any scheduled Rent Payment or any other payment sum due hereunder on or prior under any Lease within ten (10) days after its due date, Lessee agrees to the due date thereofpay, then Lessee shall pay to Lessor a late fee equal to 3% of the amount due but not received within 10 days after the due date therefor, in addition to, the five percent (5%) on such unpaid amount of such Rent PaymentPayment or other sum, but not exceeding the any lawful maximum, if any. Such late fee will be immediately due and payable payable, and is in addition to any other costs, fees and expenses that Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Master Lease Agreement (Dixie Group Inc)

TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins shall commence on the date of execution by Lessee of the Certificate of Acceptance ("Commencement Date"). The term ("Term") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Leasehereof, until and including the Expiration Date stated in Annex B. If any Term term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease shall apply during any such extension or renewal Termsterms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated above, except as otherwise directed by Lessor. Payments of Rent payments shall be in the amount, payable at such intervals and shall be due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a "Rent Payment”). ".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within ten (10) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. (c) For the period from and including the Commencement Date to the Basic Term Commencement Date ("Interim Period") stated in Annex B, Lessee shall pay as Rent ("Interim Rent") for the Aircraft, the product of the Daily Lease Rate Factor stated in Annex B times the Original Funding Amount of same stated in Annex B times the number of days in the Interim Period. Such late fee will Interim Rent shall be immediately due on the date stated in Annex B. (d) Commencing on the First Basic Term Rent Date stated in Annex B and payable thereafter as stated in Annex B (each, a "Rent Payment Date") during the Basic Term, Lessee shall pay as Rent ("Basic Term Rent") the product of the Basic Term Lease Rate Factor stated in Annex B times the Original Funding Amount stated in Annex B. Said rent consists of principal and is interest components as provided in addition to any other costs, fees and expenses Lessee may owe as a result of such late paymentAnnex B attached hereto.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Metrotrans Corp)

TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft hereunder and Lessee’s 's right to use the Aircraft begins shall commence on the date of execution by Lessee of the Certificate of Acceptance ("Commencement Date"). The term ("Term") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Leasehereof, until and including the Expiration Date stated in Annex B. If any Term term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease shall apply during any such extension or renewal Termsterms, except as may be otherwise specifically provided in writing. (b) Lessee Rent shall pay rent be paid to Lessor at its address stated above, except as otherwise directed by Lessor. Payments of Rent payments shall be in the amount, payable at such intervals and shall be due in accordance with subsections (c) through (d) hereof and the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a "Rent Payment”). ".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within fifteen (15) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents (5) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. (c) For the period from and including the Commencement Date to the Basic Term Commencement Date ("Interim Period") stated in Annex B, Lessee shall pay as Rent ("Interim Rent") for the Aircraft, the product of the Daily Lease Rate Factor stated in Annex B times the Capitalized Lessor's Cost of same stated in Annex A times the number of days in the Interim Period. Such late fee will Interim Rent shall be immediately due on the date stated in Annex B. (d) Commencing on the First Basic Rent Date stated in Annex B and payable and is thereafter as stated in addition to any other costsAnnex B (each, fees and expenses a "Rent Payment Date") during the Basic Term, Lessee may owe shall pay as a result Rent ("Basic Term Rent") the product of such late payment.the Basic Term Lease Rate Factor stated in Annex B times the Capitalized Lessor's Cost stated in Annex A.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Restaurant Co)

TERM, RENT AND PAYMENT. (a) The rent payable hereunder (the “Rent”) payable for the Aircraft and Lessee’s right to use the Aircraft begins any Equipment shall commence on the date of execution by Lessee of the Certificate of Acceptance for such Equipment (the Basic Term Commencement Date”). The term of this Agreement (the “Term”) as to any Equipment shall be the period specified in the applicable Schedule for such Equipment; provided that the term of this Lease all Schedules shall commence end on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. same date. If any Term is extended or renewed, the word “Term” shall be deemed to refer to all extended or renewal Termsrenewed terms, and all provisions of this Lease Agreement shall apply during any such extension extended or renewal Termsrenewed terms, except as otherwise may be otherwise specifically provided in writing. The maximum Term, including all renewals and any extension, shall not exceed five (5) years. (b) Lessee Rent shall pay rent be paid to Lessor by wire transfer of immediately available funds at its address stated aboveor before 1:00 p.m. New York City time, except to: Deutsche Bank, New York, New York, ABA No. 000-000-000, Account No. 00-000-000, Reference: FATICO; or to such other account as otherwise directed by Lessor. Rent payments Lessor may direct in writing; and shall be effective upon receipt. Payments of Rent shall be paid quarterly in arrears in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). If any Interim Rent (as defined in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Paymentapplicable Schedule. In no event shall any Advance Rent, Interim Rent or any other Rent Payment payments be refunded to Lessee. If Lessor does Rent is not receive from paid within three (3) Business Days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforFive Cents ($0.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximumMaximum Lawful Rate, if any. (c) THIS AGREEMENT IS A NET LEASE. Such late fee will be immediately due and payable and is in addition to any other costsLESSEE’S OBLIGATION TO PAY RENT AND OTHER AMOUNTS DUE HEREUNDER SHALL BE ABSOLUTE AND UNCONDITIONAL. LESSEE SHALL NOT BE ENTITLED TO ANY ABATEMENT OR REDUCTIONS OF, fees and expenses Lessee may owe as a result of such late paymentOR SET-OFFS AGAINST, SAID RENT OR OTHER AMOUNTS, INCLUDING, WITHOUT LIMITATION, THOSE ARISING OR ALLEGEDLY ARISING OUT OF CLAIMS (PRESENT OR FUTURE, ALLEGED OR ACTUAL, AND INCLUDING CLAIMS ARISING OUT OF STRICT LIABILITY IN TORT OR NEGLIGENCE OF LESSOR OR ANY OTHER AFFECTED PARTY) OF LESSEE AGAINST LESSOR OR ANY OTHER AFFECTED PARTY UNDER THIS AGREEMENT OR OTHERWISE. THIS AGREEMENT SHALL NOT TERMINATE AND THE OBLIGATIONS OF LESSEE SHALL NOT BE AFFECTED BY REASON OF ANY DEFECT IN OR DAMAGE TO, OR LOSS OF POSSESSION, USE OR DESTRUCTION OF, ANY EQUIPMENT FROM WHATSOEVER CAUSE. IT IS THE INTENTION OF THE PARTIES THAT RENTS AND OTHER AMOUNTS DUE HEREUNDER SHALL CONTINUE TO BE PAYABLE IN ALL EVENTS IN THE MANNER AND AT THE TIMES SET FORTH HEREIN UNLESS THE OBLIGATION TO DO SO SHALL HAVE BEEN TERMINATED PURSUANT TO THE EXPRESS TERMS HEREOF.

Appears in 1 contract

Samples: Master Lease Financing Agreement (First American Corp)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft Equipment and Lessee’s right to use the Aircraft begins Equipment shall begin on the earlier of (i) the date of when Lessee signs the Schedule and accepts the Equipment or (ii) when Lessee has accepted the Equipment under a Certificate of Acceptance (“Lease Commencement Date”). The term (“Term”) of this the Lease for any Equipment shall commence on the Lease Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule (the “Term”). If any Term term is extended or renewed, the word “Term” shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsterms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent Rent to Lessor at its address stated above, except as unless otherwise directed by Lessor. Each payment of Rent payments (each a “Rent Payment”) shall be in the amountamount set forth in, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”)the applicable Schedule. If any Interim Rent (as defined in Annex B) or and/or any Advance Rent (as defined is payable in Annex B) is payablerespect of any Equipment, such Interim Rent and/or Advance Rent shall be set forth on Annex B in the applicable Schedule and shall be due and payable in accordance with the provisions terms of Annex Bthe Schedule. Upon Lessor’s receipt of the Interim Rent and the Advance Rent, and when received by Lessor, such (i) the Interim Rent shall be applied to the Rent Payment due for the Interim Period as Period, if any, set forth on Annex B in the Schedule, and such (ii) the Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B due for the Basic Term, and any (iii) the remaining balance, if any, shall be applied to the next scheduled Rent PaymentPayment under such Schedule. In no event shall any Advance Interim Rent, Interim Advance Rent or any other Rent Payment Payments be refunded to Lessee. If Lessor does not receive from Lessee payment in full of any scheduled Rent Payment or any other payment sum due hereunder on or prior under any Lease within ten (10) days after its due date, Lessee agrees to the due date thereofpay, then Lessee shall pay to Lessor a late fee equal to 3% of the amount due but not received within 10 days after the due date therefor, in addition to, the five percent (5%) on such unpaid amount of such Rent PaymentPayment or other sum, but not exceeding the any lawful maximum, if any. Such late fee will be immediately due and payable payable, and is in addition to any other costs, fees and expenses that Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Lease Agreement (On Semiconductor Corp)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”"RENT") payable for the Aircraft and Lessee’s 's right to use the Aircraft begins on the date of Lessee signs the Certificate of Acceptance (“Commencement Date”"COMMENCEMENT DATE"). The term (“Term”"TERM") of this Lease shall commence on the Commencement Date and shall continue, unless earlier terminated pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word “Term” "TERM" shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent to Lessor at its address stated above, except as otherwise directed by Lessor. Rent payments shall be in the amount, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”). "RENT PAYMENT".) If any Interim Rent (as defined in Annex B) one or more Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be (i) set forth on Annex B and due in accordance with the provisions of Annex B, and (ii) when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any the balance, if any, shall be applied to the next scheduled final Rent PaymentPayment(s), in inverse order of maturity. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does Rent is not receive from paid within ten (10) days of its due date, Lessee payment in full of any Rent Payment or other payment due hereunder on or prior agrees to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% charge of the amount due but not received within 10 days after the due date thereforfive cents ($.05) per dollar on, and in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Terayon Communication Systems)

TERM, RENT AND PAYMENT. (a) The rent ("Rent") payable for the Aircraft Equipment and Lessee’s 's right to use the Aircraft begins on Equipment shall begin when Lessee signs the date of Schedule and accepts the Certificate of Acceptance Equipment ("Lease Commencement Date"). The term (“Term”) of this the Lease for any Equipment shall commence on the Lease Commencement Date and shall continue, continue (unless earlier terminated cancelled or terminated) pursuant to the provisions of this Lease, until and including the Expiration Date stated in Annex B. applicable Schedule (the "Term"). If any Term term is extended or renewed, the word "Term" shall be deemed to refer to all extended or renewal Termsterms, and all provisions of this Lease Agreement shall apply during any such extension or renewal Termsterms, except as may be otherwise specifically provided in writing. (b) Lessee shall pay rent Rent to Lessor at its address stated above, except as unless otherwise directed by Lessor. Each payment of Rent payments (each a "Rent Payment") shall be in the amountamount set forth in, payable at such intervals and due in accordance with the provisions of Annex B. (Each payment of Rent is hereinafter referred to as a “Rent Payment”)the applicable Schedule. If any Interim Rent (as defined in Annex B) or and/or any Advance Rent (as defined is payable in Annex B) is payablerespect of any Equipment, such Interim Rent and/or Advance Rent shall be set forth on Annex B in the applicable Schedule and shall be due and payable in accordance with the provisions terms of Annex Bthe Schedule. Upon Lessor's receipt of the Interim Rent and the Advance Rent, and when received by Lessor, such (i) the Interim Rent shall be applied to the Rent Payment due for the Interim Period as Period, if any, set forth on Annex B in the Schedule, and such (ii) the Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B due for the Basic Term, and any (iii) the remaining balance, if any, shall be applied to the next scheduled Rent PaymentPayment(s) under such Schedule. In no event shall any Advance Interim Rent, Interim Advance Rent or any other Rent Payment Payments be refunded to LesseeLessee unless otherwise required under applicable law. If Lessor does not receive from Lessee payment in full of any scheduled Rent Payment or any other sum due under any Lease within TEN (10) DAYS after its due date, Lessee agrees to pay, a LATE FEE equal to FIVE PERCENT (5%) on such unpaid Rent Payment or other payment due hereunder on or prior to the due date thereof, then Lessee shall pay to Lessor a late fee equal to 3% of the amount due but not received within 10 days after the due date therefor, in addition to, the unpaid amount of such Rent Paymentsum, but not exceeding the any lawful maximum, if any. Such late fee will be immediately due and payable payable, and is in addition to any other costs, fees and expenses that Lessee may owe as a result of such late payment.

Appears in 1 contract

Samples: Master Lease Agreement (Accuride Corp)

TERM, RENT AND PAYMENT. (a) The rent (“Rent”) payable for the Aircraft and Lessee’s right to use the Aircraft begins on the date of the Certificate of Acceptance (“Commencement Date”). The term (“Term”) of this Agreement (the "TERM") shall be the Interim Lease shall commence on Term, the Commencement Date and shall continueBasic Term and, unless earlier terminated if exercised by Lessee, any Renewal Term pursuant to Section XVIII(b) hereof, as specified in the provisions of this Lease, until and including the Expiration Date stated in Annex B. If any Term is extended or renewed, the word “Term” shall be deemed to refer to all extended or renewal Terms, and all provisions of this Lease shall apply during any such extension or renewal Terms, except as may be otherwise specifically provided in writingapplicable Schedule. (b) The obligation of Lessee to pay the rent payable hereunder during the Term, as provided in the Equipment Schedule (the "RENT"), shall commence on the Basic Term Commencement Date, and Lessee's right to use the Disbursement Equipment and the Equipment shall commence on the date of Lessor's first disbursement in respect of any Disbursement Schedule (the "DISBURSEMENT COMMENCEMENT DATE"). At the end of each Interim Interest Period, the Interim Rent that accrued during that Interim Interest Period shall become part of the Capitalized Lessor's Cost outstanding under that Disbursement Schedule upon which Interim Rent will accrue during the next Interim Interest Period, and at the end of the Interim Lease Term, shall become part of the Lessor's Capitalized Cost under the Equipment Schedule, as the case may be. Anything to the contrary set forth in this Lease notwithstanding, if the aggregate unpaid Interim Rent accrued under all Disbursement Schedules at any time exceeds five million nine hundred twenty thousand dollars ($5,920,000), Lessee shall immediately pay rent to Lessor at its address stated abovean amount equal to such excess. (c) Rent and other amounts due Lessor under this Lease shall be paid to Lessor by wire transfer of immediately available funds to National City Bank - Cleveland, except Cleveland, Ohio, ABA # 041000000, Xxmmercial Loan Operations, Account No. 151804 (Brush Wellxxx Xxxse Agreement dated 12/30/96), or to such other account as otherwise directed Lessor may direct in writing; and shall be effective upon receipt if received by LessorLessor on or prior to Noon, Cleveland, Ohio, time on a Business Day; payments received after Noon, Cleveland, Ohio, time shall be deemed for purposes of this Agreement to be received on the next succeeding Business Day. Payments of Rent payments shall be in the amountamount set forth in, payable at such intervals and due in accordance with with, the provisions of Annex B. (Each payment of Rent is hereinafter referred to the applicable Schedule. So long as a “Rent Payment”). If any Interim Rent (as defined no Potential Default or Default exists, in Annex B) or Advance Rent (as defined in Annex B) is payable, such Interim Rent and/or Advance Rent shall be set forth on Annex B and due in accordance with the provisions of Annex B, and when received by Lessor, such Interim Rent shall be applied to the Rent Payment due for the Interim Period as set forth on Annex B and such Advance Rent shall be applied to the first Basic Term for Rent Payment as set forth on Annex B and any balance, if any, shall be applied to the next scheduled Rent Payment. In no event shall any Advance Rent, Interim Rent or any other Rent Payment be refunded to Lessee. If Lessor does not receive from Lessee payment in full of any Rent Payment or other payment due hereunder on or prior to the due date thereof, payments then Lessee shall pay to Lessor a late fee equal to 3% of the amount due but not received within 10 days after the due date therefor, in addition to, the unpaid amount of such Rent Payment, but not exceeding the lawful maximum, if any. Such late fee will be immediately due and payable and is in addition to any other costs, fees and expenses Lessee may owe as a result of such late payment.be

Appears in 1 contract

Samples: Master Lease Agreement (Brush Wellman Inc)

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