Common use of TERM; RENTAL Clause in Contracts

TERM; RENTAL. a. This Agreement shall be effective on the Commencement Date and, unless sooner terminated as provided in this Agreement, shall extend for one (1) year and thereafter shall automatically be extended from year to year, unless otherwise terminated as provided herein (collectively, "Term"). LESSEE shall pay to LESSOR, in advance, annual rent of One Dollar AND No/100TH DOLLARS ($1.00). Said rent shall be paid to LESSOR at the address listed in Section 15 below, or to such other person, firm or place as LESSOR may, from time to time, designate by written notice to LESSEE, at the address listed in Section 15 below, at least thirty (30) days in advance of any rental payment date. The entire rental payment shall be due on the first day of the month following the Commencement Date for the entire lease term. By way of illustration of the preceding sentence, if the Commencement Date is June 23, 2022, LESSEE shall send to the LESSOR the entire annual rental payment by July 1, 2022. Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, XXXXXX agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE. b. If requested by XXXXXX, LESSOR shall provide to LESSEE certain documentation (the "Rental Documentation") evidencing LESSOR's interest in and right to receive rental payments under this Agreement, including without limitation: (i) documentation, acceptable to LESSEE in LESSEE's reasonable discretion, evidencing XXXXXX's good and sufficient title to or interest in the Property and right to receive rental payments and other benefits hereunder; and (ii) a complete and fully executed Internal Revenue Service Form W-9, or equivalent, in a form acceptable to LESSEE. The Rental Documentation shall be provided to LESSEE in accordance with the provisions of and at the address stated in this Agreement. The failure of LESSOR to provide Rental Documentation shall not excuse the LESSEE from its obligations to pay rent and to abide by the terms and conditions of this Agreement. Any such failure by LESSOR shall be subject to the provisions of this Agreement regarding breach. x. XXXXXX shall have no obligation to provide gas, electrical, telephone, water, or sanitary sewer service for the Leased Premises. LESSEE shall furnish and install at its own expense, and subject to all rules, regulations, codes and ordinances of the City, any and all utility services it may require to use the Leased Premises for its desired purposes. LESSEE shall be solely and individually responsible for any and all fees and charges for utility services that LESSEE my incur during the use of the Leased Premises for the purposes contemplated by this Lease and LESSEE shall indemnify and hold LESSOR harmless from any and all such fees and charges.

Appears in 1 contract

Samples: Ground Lease Agreement

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TERM; RENTAL. a. This Agreement shall be effective as of the date of execution by both Parties (the "Effective Date"), provided, however, the initial term shall be for five (5) years and shall commence on the first day of the month following the day that LESSEE commences installation of the equipment on the Premises (the “Commencement Date”) at which time rental payments shall commence and be due at a total annual rental of Eight Hundred and Forty Dollars ($840) to be paid in advance annually on the Commencement Date and, unless sooner terminated as provided in this Agreement, shall extend for one (1) year and thereafter shall automatically be extended from year to year, unless otherwise terminated as provided herein (collectively, "Term"). LESSEE shall pay to LESSOR, on each anniversary of it in advance, annual rent of One Dollar AND No/100TH DOLLARS ($1.00). Said rent shall be paid to LESSOR at the address listed in Section 15 below, or to such other person, firm or place as LESSOR may, from time to time, designate by written notice to LESSEE, at the address listed in Section 15 below, writing at least thirty (30) days in advance of any rental payment datedate by notice given in accordance with Paragraph 18 below. The entire XXXXXX and XXXXXX agree that they shall acknowledge in writing the Commencement Date. XXXXXX and XXXXXX acknowledge and agree that initial rental payment may not actually be sent by XXXXXX until ninety (90) days after XXXXXX’s receipt of written acknowledgement confirming the Commencement Date. As additional consideration for this Agreement, XXXXXX further agrees to pay LESSOR a one-time, lump sum payment in the sum of Two Thousand and No/100 Dollars ($2,000.00) as additional rent, which shall be due on the first day and payable within ninety (90) days of the month following full execution of the Commencement Date Agreement and which shall be non- refundable. The Parties understand and agree that this additional rent is being paid for the entire lease term. By way purpose of illustration of the preceding sentence, if the Commencement Date is June 23, 2022, LESSEE shall send to the reimbursing LESSOR the entire annual rental payment by July 1, 2022for its attorney costs. Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, XXXXXX agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE. b. If requested by XXXXXX, . LESSOR shall hereby agrees to provide to LESSEE certain documentation (the "Rental Documentation") evidencing LESSOR's interest in and right to receive rental payments under this Agreement, including without limitation: (i) documentation, acceptable to LESSEE in LESSEE's reasonable discretion, documentation evidencing XXXXXX's LESSOR’s good and sufficient title to or and/or interest in the Property and right to receive rental payments and other benefits hereunder; and (ii) a complete and fully executed completed Internal Revenue Service Form W-9, or equivalentequivalent for any party to whom rental payments are to be made pursuant to this Agreement; and (iii) other documentation requested by LESSEE and within fifteen (15) days of obtaining an interest in the Property or this Agreement, any assignee(s), transferee(s) or other successor(s) in a form acceptable interest of LESSOR shall provide to LESSEELESSEE such Rental Documentation. The Rental Documentation All documentation shall be provided acceptable to LESSEE in accordance with the provisions LESSEE’s reasonable discretion. Delivery of and at the address stated in this Agreement. The failure of LESSOR to provide Rental Documentation shall not excuse the to LESSEE from its obligations to pay rent and to abide by the terms and conditions of this Agreement. Any such failure by LESSOR shall be subject a prerequisite for the payment of any rent by LESSEE and notwithstanding anything to the provisions of this Agreement regarding breach. x. XXXXXX contrary herein, LESSEE shall have no obligation to make any rental payments until Rental Documentation has been supplied to LESSEE as provided herein. Within thirty (30) days of a written request from XXXXXX, LESSOR or any assignee(s) or transferee(s) of LESSOR agrees to provide gas, electrical, telephone, water, or sanitary sewer service for the Leased Premisesupdated Rental Documentation. LESSEE shall furnish and install at its own expense, and subject Delivery of Rental Documentation to all rules, regulations, codes and ordinances of the City, any and all utility services it may require to use the Leased Premises for its desired purposes. LESSEE shall be solely and individually responsible for any and all fees and charges for utility services that LESSEE my incur during the use of the Leased Premises a prerequisite for the purposes contemplated payment of any rent by this Lease LESSEE to such party and notwithstanding anything to the contrary herein, LESSEE shall indemnify and hold LESSOR harmless from have no obligation to make any and all such fees and chargesrental payments until Rental Documentation has been supplied to LESSEE as provided herein.

Appears in 1 contract

Samples: Lease Agreement

TERM; RENTAL. a. This Agreement shall be effective as of the date of execution by both Parties (the "Effective Date"), provided, however, the initial term shall be for five (5) years and shall commence on the first day of the month following the day that LESSEE commences installation of the equipment on the Premises (the “Commencement Date”) at which time rental payments shall commence and be due at a total monthly rental of ($400.00) to be paid monthly starting on the Commencement Date andDate, unless sooner terminated as provided in this Agreement, shall extend for one (1) year and thereafter shall automatically be extended from year to year, unless otherwise terminated as provided herein (collectively, "Term"). LESSEE shall pay to LESSOR, in advance, annual rent of One Dollar AND No/100TH DOLLARS ($1.00). Said rent shall be paid to LESSOR at the address listed in Section 15 below, or to such other person, firm or place as LESSOR may, from time to time, designate by written notice to LESSEE, at the address listed in Section 15 below, writing at least thirty (30) days in advance of any rental payment datedate by notice given in accordance with Paragraph 17 below. The entire In no event shall the Commencement Date be later than one eighty (180) days from the date of this Agreement. LESSOR and LESSEE acknowledge and agree that initial rental payment shall not actually be due on the first day of the month following sent by LESSEE until thirty (30) days after the Commencement Date for the entire lease termDate. By way of illustration of the preceding sentence, if LESSOR and LESSEE agree that they shall acknowledge in writing the Commencement Date is June 23, 2022, LESSEE shall send to the LESSOR the entire annual rental payment by July 1, 2022Date. Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, XXXXXX LESSOR agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE. b. If requested by XXXXXX, . LESSOR shall hereby agrees to provide to LESSEE certain documentation (the "Rental Documentation") evidencing LESSOR's interest in and right to receive rental payments under this Agreement, including without limitation: (i) documentationa completed Internal Revenue Service Form W-9, acceptable or equivalent for any party to whom rental payments are to be made pursuant to this Agreement; and (ii) to the extent applicable, within fifteen (15) days of obtaining an interest in the Property or this Agreement, any assignee(s), transferee(s) or other successor(s) in interest of LESSOR (“Successor”) shall provide to LESSEE in LESSEE's reasonable discretion, documentation evidencing XXXXXX's good and sufficient title to or Successor’s interest in the Property and right to receive rental payments and other benefits hereunder; and (ii) a complete and fully executed Internal Revenue Service Form W-9, or equivalent, in a form acceptable to any other documentation reasonably required by LESSEE. The Rental Documentation All documentation shall be provided acceptable to LESSEE in accordance with the provisions LESSEE’s reasonable discretion. Delivery of and at the address stated in this Agreement. The failure of LESSOR to provide Rental Documentation shall not excuse the to LESSEE from its obligations to pay rent and to abide by the terms and conditions of this Agreement. Any such failure by LESSOR shall be subject a prerequisite for the payment of any rent by LESSEE and notwithstanding anything to the provisions of this Agreement regarding breach. x. XXXXXX contrary herein, LESSEE shall have no obligation to make any rental payments until Rental Documentation has been supplied to LESSEE as provided herein. Within thirty (30) days of a written request from LESSEE, LESSOR or any assignee(s) or transferee(s) of LESSOR agrees to provide gas, electrical, telephone, water, or sanitary sewer service for the Leased Premisesupdated Rental Documentation. LESSEE shall furnish and install at its own expense, and subject Delivery of Rental Documentation to all rules, regulations, codes and ordinances of the City, any and all utility services it may require to use the Leased Premises for its desired purposes. LESSEE shall be solely and individually responsible for any and all fees and charges for utility services that LESSEE my incur during the use of the Leased Premises a prerequisite for the purposes contemplated payment of any rent by this Lease LESSEE to such party and notwithstanding anything to the contrary herein, LESSEE shall indemnify and hold LESSOR harmless from have no obligation to make any and all such fees and chargesrental payments until Rental Documentation has been supplied to LESSEE as provided herein.

Appears in 1 contract

Samples: Cell Tower Lease Agreement

TERM; RENTAL. a. This Agreement shall be effective on as of the date of execution by both Parties, (the Commencement Date and, unless sooner terminated as provided Date) and shall remain in this Agreement, shall extend effect for one a period of fourteen (114) year and thereafter shall automatically be extended months from year to year, unless otherwise terminated as provided herein (collectively, "Term")the Commencement Date. LESSEE shall pay to LESSOR, rent in advance, annual rent the sum of One Dollar AND No/100TH DOLLARS Hundred and Fifty Dollars ($1.00150.00) per month, payable in advance for each month during the term of this Agreement. The total amount of rent to be paid by LESSEE shall not exceed the sum of Two Thousand, One Hundred Dollars ($2,100.00). Said rent shall be paid to LESSOR at the address listed in Section 15 belowCity of Laramie, 000 Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxx, 00000, or to such other person, firm or place as LESSOR may, from time to time, designate by written notice to LESSEE, at the address listed stated in Section 15 belowthis Agreement, at least thirty (30) days in advance of any rental payment date. The entire rental payment shall be due on the first day of the month following the Commencement Date for the entire lease term. By way of illustration of the preceding sentence, if the Commencement Date is June February 23, 20222017, LESSEE shall send to the LESSOR the entire annual rental payment ($2,100.00) for the entire term of the lease by July March 1, 20222017. Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, XXXXXX LESSOR agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE. b. If requested by XXXXXXLESSEE, LESSOR shall provide to LESSEE certain documentation (the "Rental Documentation") evidencing LESSOR's ’s interest in and right to receive rental payments under this Agreement, including without limitation: (i) documentation, acceptable to LESSEE in LESSEE's ’s reasonable discretion, evidencing XXXXXX's LESSOR’s good and sufficient title to or interest in the Property and right to receive rental payments and other benefits hereunder; and (ii) a complete and fully executed Internal Revenue Service Form W-9, or equivalent, in a form acceptable to LESSEE. The Rental Documentation shall be provided to LESSEE in accordance with the provisions of and at the address stated in this Agreement. The failure of LESSOR to provide Rental Documentation shall not excuse the LESSEE from its obligations to pay rent and to abide by the terms and conditions of this Agreement. Any such failure by LESSOR shall be subject to the provisions of this Agreement regarding breach. x. XXXXXX shall have no obligation to provide gas, electrical, telephone, water, or sanitary sewer service for the Leased Premises. LESSEE shall furnish and install at its own expense, and subject to all rules, regulations, codes and ordinances of the CityCity of Laramie, any and all utility services it may require to use the Leased Premises for its desired purposes. LESSEE shall be solely and individually responsible for any and all fees and charges for utility services that LESSEE my incur during the use of the Leased Premises for the purposes contemplated by this Lease and LESSEE shall indemnify and hold LESSOR harmless from any and all such fees and charges.

Appears in 1 contract

Samples: Ground Lease Agreement

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TERM; RENTAL. a. (a) This Agreement shall be for a term of twenty (20) years commencing upon the execution hereof by both Parties. Each Supplement shall be effective as of the date of execution by both Parties (the "Effective Date"), provided however, the initial term of each Supplement shall be for ten (10) years and shall commence on the first day of the month following the day that LESSEE commences installation of its equipment for any given node listed in the Supplement (the “Commencement Date”), at which time rental payments for every node listed in the Supplement shall commence and be due at a total annual rental One Hundred Fifty and 00/100 dollars ($150.00) per pole, to be paid annually within 30 days after the Commencement Date and, unless sooner terminated as provided in this Agreement, shall extend for one (1) year and thereafter shall automatically be extended from year to year, unless otherwise terminated as provided herein (collectively, "Term"). LESSEE shall pay to LESSORon or before each anniversary of the Commencement Date, in advance, annual rent of One Dollar AND No/100TH DOLLARS ($1.00). Said rent shall be paid to the payee designated by LESSOR at in the address listed in Section 15 belowSupplement, or to such other person, firm or place as LESSOR may, from time to time, designate by written notice to LESSEE, at the address listed in Section 15 below, writing at least thirty ninety (3090) days in advance of any rental payment datedate by notice given in accordance with Paragraph 15 below. The entire rental payment LESSEE shall be due on the first day of the month following notify LESSOR prior to beginning an installation and LESSOR and LESSEE agree that they shall acknowledge in writing the Commencement Date of each Supplement. LESSOR and LESSEE acknowledge and agree that the initial rental payment for each Supplement may not actually be sent by LESSEE until ninety (90) days after the entire lease term. By way of illustration written acknowledgement of the preceding sentence, if the Commencement Date is June 23, 2022, LESSEE shall send to the LESSOR the entire annual rental payment by July 1, 2022. Date. (b) Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such that event, XXXXXX LESSOR agrees to provide to LESSEE bank routing information and a W-9 or its equivalent for such that purpose upon request of LESSEE. b. If requested by XXXXXX, (c) LESSOR shall hereby agrees to provide to LESSEE certain documentation (the "Rental Documentation") evidencing LESSOR's interest in and right requested by LESSEE to receive rental payments under this Agreement, including without limitation: (i) documentation, acceptable to LESSEE in LESSEE's reasonable discretion, evidencing XXXXXX's good and sufficient title to or interest in the Property and right to receive rental payments and other benefits hereunder; and (ii) a complete and fully executed Internal Revenue Service Form W-9, or equivalent, in a form acceptable to LESSEE. The Rental Documentation shall be provided to LESSEE in accordance comply with the provisions requirement of and at the address stated in this Agreement. The failure of LESSOR to provide Rental Documentation shall not excuse the LESSEE from its obligations to pay rent and to abide by the terms and conditions of this Agreement. Any such failure by LESSOR shall be subject to the provisions of this Agreement regarding breach. x. XXXXXX shall have no obligation to provide gasany applicable laws, electrical, telephone, water, or sanitary sewer service for the Leased Premises. LESSEE shall furnish and install at its own expense, and subject to all rules, regulations, codes and ordinances ordinances, directives, or covenants now in effect, or which may hereafter come into effect. Within fifteen (15) days of the Cityobtaining an interest in any Property, Supplement or this Agreement, any assignee(s), transferee(s) or other successor(s) in interest of LESSOR must provide to LESSEE such Documentation Delivery of requested Documentation to LESSEE shall be a prerequisite for the delivery of any lease payment by LESSEE. Notwithstanding anything to the contrary herein, or in any Supplement, LESSEE may hold all lease payments until Documentation has been supplied to LESSEE as provided herein. (d) Pursuant to section 8C.7A.3 (c) (1), LESSEE shall be responsible for payment of any permit application fees required by LESSOR’S code of ordinances, as amended. (e) If no electrical or telephone service is available at the premises LESSEE will have the option to supply and install service at their expense after approval by the city and utility provider. (f) LESSEE shall be permitted at any time during the Term (as defined herein) of each Supplement, to install, maintain, and/or provide access to and use of, as necessary (during any power interruption at the Premises), a temporary power source and a temporary installation of any other services and equipment required to keep LESSEE's small cell communications facility operational, along with all utility services it may require to use related equipment and appurtenances within the Leased Premises for its desired purposesPremises, or elsewhere on the Property in such locations as reasonably approved by LESSOR. LESSEE shall have the right to install conduits connecting the temporary power source, and the temporary installation of any other services and equipment required to keep LESSEE's small cell communications facility operational and related appurtenances to the Premises. All temporary placements must be solely and individually responsible for any and all fees and charges for utility services that LESSEE my incur during the use removed within thirty (30) days of the Leased Premises for the purposes contemplated by this Lease and LESSEE shall indemnify and hold LESSOR harmless from any and all such fees and chargespower resuming.

Appears in 1 contract

Samples: Master Lease Agreement

TERM; RENTAL. a. This Agreement shall be effective as of the date of execution by both Parties (the "Effective Date"), provided, however, the initial term shall be for five (5) years and shall commence on the first day of the month following the day that LESSEE commences installation of the equipment on the Premises (the “Commencement Date”) at which time rental payments for the first (1st) year of the initial term shall commence and be due at a total annual rental of $ to be paid in advance annually on the Commencement Date and, unless sooner terminated as provided in this Agreement, shall extend for one (1) year and thereafter shall automatically be extended from year to year, unless otherwise terminated as provided herein (collectively, "Term"). LESSEE shall pay to LESSOR, on each anniversary of it in advance, annual rent of One Dollar AND No/100TH DOLLARS ($1.00). Said rent shall be paid to LESSOR at the address listed in Section 15 below, or to such other person, firm or place as LESSOR may, from time to time, designate by written notice to LESSEE, at the address listed in Section 15 below, writing at least thirty (30) days in advance of any rental payment datedate by notice given in accordance with Paragraph 17 below. The entire LESSOR and LESSEE acknowledge and agree that initial rental payment shall not actually be due on sent by LESSEE until sixty (60) days after the first day Commencement Date. LESSOR and LESSEE agree that they shall acknowledge in writing the Commencement Date. [OPTIONAL: The annual rental for the second (2nd) year of the month following the Commencement Date initial term and for the entire lease term. By way of illustration each year thereafter including any and all extension terms shall be equal to % of the preceding sentence, if the Commencement Date is June 23, 2022, LESSEE shall send annual rental payable with respect to the LESSOR the entire annual rental payment by July 1, 2022. immediately preceding year.] Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, XXXXXX LESSOR agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE. b. If requested by XXXXXX, . LESSOR shall hereby agrees to provide to LESSEE certain documentation (the "Rental Documentation") evidencing LESSOR's interest in and right to receive rental payments under this Agreement, including without limitation: (i) documentation, acceptable to LESSEE in LESSEE's reasonable discretion, documentation evidencing XXXXXX's LESSOR’s good and sufficient title to or and/or interest in the Property and right to receive rental payments and other benefits hereunder; and (ii) a complete and fully executed completed Internal Revenue Service Form W-9, or equivalentequivalent for any party to whom rental payments are to be made pursuant to this Agreement; and (iii) other documentation requested by LESSEE and within fifteen (15) days of obtaining an interest in the Property or this Agreement, any assignee(s), transferee(s) or other successor(s) in a form acceptable interest of LESSOR shall provide to LESSEELESSEE such Rental Documentation. The Rental Documentation All documentation shall be provided acceptable to LESSEE in accordance with the provisions LESSEE’s reasonable discretion. Delivery of and at the address stated in this Agreement. The failure of LESSOR to provide Rental Documentation shall not excuse the to LESSEE from its obligations to pay rent and to abide by the terms and conditions of this Agreement. Any such failure by LESSOR shall be subject a prerequisite for the payment of any rent by LESSEE and notwithstanding anything to the provisions of this Agreement regarding breach. x. XXXXXX contrary herein, LESSEE shall have no obligation to make any rental payments until Rental Documentation has been supplied to LESSEE as provided herein. Within thirty (30) days of a written request from LESSEE, LESSOR or any assignee(s) or transferee(s) of LESSOR agrees to provide gas, electrical, telephone, water, or sanitary sewer service for the Leased Premisesupdated Rental Documentation. LESSEE shall furnish and install at its own expense, and subject Delivery of Rental Documentation to all rules, regulations, codes and ordinances of the City, any and all utility services it may require to use the Leased Premises for its desired purposes. LESSEE shall be solely and individually responsible for any and all fees and charges for utility services that LESSEE my incur during the use of the Leased Premises a prerequisite for the purposes contemplated payment of any rent by this Lease LESSEE to such party and notwithstanding anything to the contrary herein, LESSEE shall indemnify and hold LESSOR harmless from have no obligation to make any and all such fees and chargesrental payments until Rental Documentation has been supplied to LESSEE as provided herein.

Appears in 1 contract

Samples: Lease Agreement

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