Common use of TERM/RENT Clause in Contracts

TERM/RENT. 2.1 This Master Lease shall commence on the date set forth above and shall continue so long as any Schedule remains in effect. Each Schedule shall set forth the basic term of the Schedule (“Basic Term”), the periodic rent for each Unit (“Monthly Rent”), the installation date of each Unit (“Installation Date”), the commencement date (“Commencement Date”), the installation location of each Unit (“Equipment Location”) and all other additional terms. The Basic Term for a Schedule shall begin on the Commencement Date and shall continue thereafter for the number of months specified therein. As to each Unit, the term for each Schedule (“Initial Term”) shall begin on the Installation Date of such Unit, and shall continue throughout the expiration of the Basic Term. The Installation Date shall be the earlier of (i) the date such Unit is installed and operational for purposes of the Schedule at the Equipment Location, or (ii) 7 days after Lessor has made such Unit available for delivery to Lessee, except, that if the company designated by Lessee to install such Unit shall notify Lessee that it is unable to install such Unit due solely to the condition of such Unit, then the Installation Date shall be as set forth in subclause (i) herein. The Commencement Date shall be the first day of the calendar month following the latest Installation Date of any Unit, provided, however, if such Installation Date falls on the first day of the month, the Commencement Date shall be such Installation Date. Lessee may terminate any Schedule at the end of any full month effective at the expiration of the Initial Term or any extension thereof by giving Lessor 90 days’ prior written notice. If such written notice of termination is not given by Lessee, the Initial Term shall be automatically extended thereafter on a month-to-month basis at the same Monthly Rent, until terminated by Lessee giving the required 90 days’ written notice and expiration of the notice period, or until written notice of termination is given by Lessor. Any notice of termination must relate to all the Equipment subject to the Schedule to which the notice applies and shall be effective only upon the last day of the Initial Term or upon the last day of any successive 90 day period, and may not be unilaterally revoked.

TERM/RENT. 2.1 This Master Lease shall commence on the date set forth above Effective Date and shall continue so long as any Schedule remains in effect. Each Schedule shall set forth the basic initial term of the Schedule (“Basic Initial Term”), the periodic rent Monthly Rent for each Unit of equipment (“Monthly Rent”), the date of the purchase by Lessor of each Unit pursuant to the applicable Sale and Leaseback Agreement between Lessor, as buyer, and Lessee, as seller (“Commencement Date”), the installation date of each Unit (“Installation Date”), ; which shall be the commencement later of (i) the date of acceptance or deemed acceptance of the Unit pursuant to the Acceptance Certificate (“Exhibit B) and (ii) the Commencement Date”), the installation location of each Unit (“Equipment Location”) ), the amount of Use Tax attributable to each Unit and all other additional terms. The Basic Initial Term for a Schedule shall begin on the Commencement Date and shall continue thereafter for the number of months specified therein. As to each Unit, the term for each Schedule (“Initial Term”) shall begin on the Installation Date of such Unit, and shall continue throughout the expiration of the Basic Term. The Installation Date shall be the earlier of (i) the date such Unit is installed and operational for purposes of the Schedule at the Equipment Location, or (ii) 7 days after Lessor has made such Unit available for delivery to Lessee, except, that if the company designated by Lessee to install such Unit shall notify Lessee that it is unable to install such Unit due solely to the condition of such Unit, then the Installation Date shall be as set forth in subclause (i) herein. The Commencement Date shall be the first day of the calendar month following the latest Installation Date of any Unit, provided, however, if such Installation Date falls on the first day of the month, the Commencement Date shall be such Installation Date. Lessee may terminate any Schedule at the end of any full month effective at the expiration of the Mandatory Renewal Term (as defined in the Schedule), if any, or the Initial Term (if no Mandatory Renewal Term) or any extension thereof thereof, by giving Lessor 90 days’ (i) in the event Lessee elects to return the Equipment pursuant to Section 13 hereof, 180 days prior written notice, and (ii) in the event Lessee elects to renew the lease of the Equipment or to negotiate for the purchase of the Equipment from Lessor, 60 days prior written notice. If such written notice of termination is not given by Lessee, or if Lessee negotiates for the purchase of the Equipment from Lessor but such purchase is not closed, the Initial Term or any Mandatory Renewal Term, as applicable, shall be automatically extended thereafter on a month-to-month basis at the same Monthly Rent, until terminated by Lessor or Lessee giving the required 90 days’ written notice as provided above and upon expiration of the applicable notice period, or until written notice of termination is given by Lessor. Any notice of termination or renewal must relate to all the Equipment subject to the Schedule to which the notice applies and shall be effective only upon the last day of the Initial Term or upon the last day of any successive 90 day period, under a Permitted Sublease (as hereinafter defined) and may not be unilaterally revoked.

TERM/RENT. 2.1 This Master Lease shall commence on Landlord hereby subleases to Tenant, and Tenant hereby subleases from Landlord, Apartment No. (“Premises”) located at Washington, D.C. in the date set forth above and shall continue so long as any Schedule remains in effect. Each Schedule shall set forth the basic Cooperative apartment building owned by The Claridge House Cooperative, Inc. ( “Cooperative”), for a term of the Schedule ______ months beginning on , 20 , and ending on , 20 (“Basic Term”), the periodic rent for each Unit (“Monthly Rent”), the installation date of each Unit (“Installation Date”), the commencement date (“Commencement Date”), the installation location of each Unit (“Equipment Location”) and all other additional terms. The Basic Term for a Schedule shall begin on the Commencement Date and shall continue thereafter for the number total sum of months specified therein. As to each Unit$ for the Term payable in equal installments of $ , the term for each Schedule (“Initial Term”) shall begin in advance, on the Installation Date of such Unit, and shall continue throughout the expiration of the Basic Term. The Installation Date shall be the earlier of (i) the date such Unit is installed and operational for purposes of the Schedule at the Equipment Location, or (ii) 7 days after Lessor has made such Unit available for delivery to Lessee, except, that if the company designated by Lessee to install such Unit shall notify Lessee that it is unable to install such Unit due solely to the condition of such Unit, then the Installation Date shall be as set forth in subclause (i) herein. The Commencement Date shall be the first day of each month of the calendar term, without demand or deduction therefrom, at such place as the Landlord may from time to time designate in writing. The first month’s rent must be paid before Tenant occupies the Premises. If this Sublease commences on a day other than the first day of a month, the amount of rent to be paid for the balance of the first month following will be apportioned pro rata, based on the latest Installation Date number of days remaining in the month. Tenant’s obligation to pay rent is independent of any Unitother provision in this Sublease. Each Tenant is jointly and severally liable to Landlord for full performance of all Tenant obligations under this Sublease. If Tenant fails to pay to pay any monthly installment of rent, providedor any additional rent, howeverwithin five (5) days after the due date, if a late fee in the amount of five percent (5%) of the amount of the installment of rent, or of such Installation Date falls additional rent, shall be payable by Tenant within thirty (30) days after notice thereof from Landlord. However, payment by Tenant and acceptance by Landlord of a late fee or lesser amount shall not be construed as a waiver of the requirement for Tenant to pay each monthly rent installment on the first day of the month. Nothing in this Sublease constitutes a waiver or limitation of Landlord’s rights to take legal action for unpaid rent, for damages or for repossession of the Commencement Date shall be Premises for non-payment of any installment of rent or other amount payable by Tenant under this Sublease when such Installation Daterent or other amount becomes due and payable. Lessee may terminate any Schedule Any failure by Tenant to pay rent at the end of time specified will constitute a default under this Sublease, and Landlord may exercise any full month effective at the expiration of the Initial Term and all rights and remedies available under this Sublease or any extension thereof by giving Lessor 90 days’ prior written notice. If such written notice of termination is not given by Lessee, the Initial Term shall be automatically extended thereafter on a month-to-month basis at the same Monthly Rent, until terminated by Lessee giving the required 90 days’ written notice and expiration of the notice period, or until written notice of termination is given by Lessorunder applicable law. Any notice of termination must relate and all payments required to all the Equipment subject be paid by Tenant to the Schedule Landlord or to which the notice applies any other person under this Sublease will be deemed to be additional rent and will be collectible as rent. Landlord at its sole discretion may require that rent payments be made by electronic rent collection, cashier’s check, certified check or money order. Landlord shall be effective only upon the last day of the Initial Term give Tenant a receipt for any payment from Tenant that is made by cash or upon the last day of any successive 90 day period, and may not be unilaterally revokedmoney order.