Types of Rental Payments. Tenant shall pay net base rent to Landlord in monthly installments, in advance, on the first day of each and every calendar month during the Term of this Lease (the “Base Rent”) in the amounts and for the periods as set forth below: Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 1 $ 1,298,460 $ 108,205 Year 2 $ 1,298,460 $ 108,205 Year 3 $ 1,298,460 $ 108,205 Year 4 $ 1,377,936 $ 114,828 Year 5 $ 1,405,500 $ 117,125 Year 6 $ 1,433,616 $ 119,468 Year 7 $ 1,462,284 $ 121,857 Year 8 $ 1,491,528 $ 124,294 Year 9 $ 1,521,360 $ 126,780 Year 10 $ 1,551,792 $ 129,316 Year 11 $ 1,582,824 $ 131,902 Year 12 $ 1,614,480 $ 134,540 Year 13 $ 1,646,772 $ 137,231 Year 14 $ 1,679,712 $ 139,976 Year 15 $ 1,711,104 $ 142,592 Tenant shall also pay all Operating Expenses (defined below) and any other amounts owed by Tenant hereunder, including amounts owed by Tenant pursuant to the Tri-Party Agreement (defined in Section 4.4 below) (collectively, “Additional Rent”). In the event any monthly installment of Base Rent or Additional Rent, or both, is not paid within 10 days of the date when due, a late charge in an amount equal to 5% of the then delinquent installment of Base Rent and/or Additional Rent (the “Late Charge”; the Late Charge, Default Interest, as defined in Section 22.3 below, Base Rent and Additional Rent are collectively be referred to as “Rent”), shall be paid by Tenant to Landlord, c/o First Industrial, L.P., 00 Xxxxxxxxxx Xxxxx, Xxxxx 0000, Xxxxxxx, XX 00000-0000 or if sent by overnight courier, The Northern Trust Company, 000 Xxxxx Xxxxxxx Xxxxxx, 0xx Xxxxx Receipt and Dispatch, Xxxxxxx, XX 00000 Attn: First Industrial Development Services, Inc., Suite 1066 (or such other entity designated as Landlord’s management agent, if any, and if Landlord so appoints such a management agent, the “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise in writing.
Appears in 1 contract
Types of Rental Payments. Tenant shall pay net base rent to Landlord in monthly installments, in advance, on the first day of each and every calendar month during the Term of this Lease (the “Base Rent”) in the amounts and for the periods as set forth below: Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 1 $ 1,298,460 699,171 $ 108,205 58,264.25 Year 2 $ 1,298,460 699,171 $ 108,205 58,264.25 Year 3 $ 1,298,460 741,751 $ 108,205 61,812.58 Year 4 $ 1,377,936 741,751 $ 114,828 61,812.58 Year 5 $ 1,405,500 786,923 $ 117,125 65,576.92 Year 6 $ 1,433,616 786,923 $ 119,468 65,576.92 Year 7 $ 1,462,284 834,847 $ 121,857 69,570.58 Year 8 $ 1,491,528 834,847 $ 124,294 69,570.58 Year 9 $ 1,521,360 885,689 $ 126,780 73,807.42 Year 10 $ 1,551,792 885,689 $ 129,316 73,807.42 Year 11 $ 1,582,824 939,628 $ 131,902 78,302.33 Year 12 $ 1,614,480 939,628 $ 134,540 78,302.33 Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 13 $ 1,646,772 996,851 $ 137,231 83,070.92 Year 14 $ 1,679,712 996,851 $ 139,976 83,070.92 Year 15 $ 1,711,104 1,057,559 $ 142,592 88,129.92 Year 16 $ 1,057,559 $ 88,129.92 Year 17 $ 1,121,965 $ 93,497.08 Year 18 $ 1,121,965 $ 93,497.08 Year 19 $ 1,190,292 $ 99,191.00 Year 20 $ 1,190,292 $ 99,191.00 Tenant shall also pay all Operating Expenses (defined below) and any other amounts owed by Tenant hereunder, including amounts owed by Tenant pursuant to the Tri-Party Agreement (defined in Section 4.4 below) hereunder (collectively, “Additional Rent”). In the event any monthly installment of Base Rent or Additional Rent, or both, is not paid within 10 ten (10) days of the date when due, a late charge in an amount equal to 5% of the then then-delinquent installment of Base Rent and/or Additional Rent (the “Late Charge”; the Late Charge, Default Interest, as defined in Section 22.3 21.3 below, Base Rent and Additional Rent are shall collectively be referred to as “Rent”), ) shall be paid by Tenant to Landlord. Landlord and Tenant agree that (a) such Late Charge and Default Interest are intended to compensate Landlord for additional administrative charges and other damages incurred by Landlord on account of such late payment and do not constitute a penalty, (b) the actual damages to be suffered by Landlord in the event of a late payment of Rent shall be difficult, if not impossible, to ascertain, and (c) that such Late Charge and Default Interest are a reasonable estimate of such charges and damages. Tenant shall deliver all Rent payments to Landlord at: c/o First Industrial, L.P., 00 Xxxxxxxxxx XxxxxX.X. Xxx 000000, Xxxxx 0000, XxxxxxxXxxxxxxx, XX 00000-0000 0000, or if sent by overnight courier, The Northern Trust CompanyFirst Industrial, 000 L.P. 100363, JPM Chase, 0000 Xxxxx Xxxxxxx Xxxxxx, 0xx Xxxxx Receipt and Dispatch000, Xxxxxxxx 0, Xxx Xxxxxxx, XX 00000 Attn: First Industrial Development Services, Inc., Suite 1066 (or to such other entity designated as Landlord’s management agent, if any, and if Landlord so appoints such a management agent, the “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise to Tenant not less than thirty (30) days in advance in writing.
Appears in 1 contract
Samples: KAR Holdings, Inc.
Types of Rental Payments. Tenant shall pay net base rent to Landlord in monthly installments, in advance, on the first day of each and every calendar month during the Term of this Lease (the “Base Rent”) in the amounts and for the periods as set forth below: Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 1 $ 1,298,460 430,000 $ 108,205 35,833.33 Year 2 $ 1,298,460 430,000 $ 108,205 35,833.33 Year 3 $ 1,298,460 456,187 $ 108,205 38,015.58 Year 4 $ 1,377,936 456,187 $ 114,828 38,015.58 Year 5 $ 1,405,500 483,969 $ 117,125 40,330.75 Year 6 $ 1,433,616 483,969 $ 119,468 40,330.75 Year 7 $ 1,462,284 513,442 $ 121,857 42,786.83 Year 8 $ 1,491,528 513,442 $ 124,294 42,786.83 Year 9 $ 1,521,360 544,711 $ 126,780 45,392.58 Year 10 $ 1,551,792 544,711 $ 129,316 45,392.58 Year 11 $ 1,582,824 577,884 $ 131,902 48,157.00 Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 12 $ 1,614,480 577,884 $ 134,540 48,157.00 Year 13 $ 1,646,772 613,077 $ 137,231 51,089.75 Year 14 $ 1,679,712 613,077 $ 139,976 51,089.75 Year 15 $ 1,711,104 650,414 $ 142,592 54,201.17 Year 16 $ 650,414 $ 54,201.17 Year 17 $ 690,024 $ 57,502.00 Year 18 $ 690,024 $ 57,502.00 Year 19 $ 732,046 $ 61,003.83 Year 20 $ 732,046 $ 61,003.83 Tenant shall also pay all Operating Expenses (defined below) and any other amounts owed by Tenant hereunder, including amounts owed by Tenant pursuant to the Tri-Party Agreement (defined in Section 4.4 below) hereunder (collectively, “Additional Rent”). In the event any monthly installment of Base Rent or Additional Rent, or both, is not paid within 10 ten (10) days of the date when due, a late charge in an amount equal to 5% of the then then-delinquent installment of Base Rent and/or Additional Rent (the “Late Charge”; the Late Charge, Default Interest, as defined in Section 22.3 21.3 below, Base Rent and Additional Rent are shall collectively be referred to as “Rent”), ) shall be paid by Tenant to Landlord. Landlord and Tenant agree that (a) such Late Charge and Default Interest are intended to compensate Landlord for additional administrative charges and other damages incurred by Landlord on account of such late payment and do not constitute a penalty, (b) the actual damages to be suffered by Landlord in the event of a late payment of Rent shall be difficult, if not impossible, to ascertain, and (c) that such Late Charge and Default Interest are a reasonable estimate of such charges and damages. Tenant shall deliver all Rent payments to Landlord at: c/o First Industrial, L.P., 00 Xxxxxxxxxx XxxxxX.X. Xxx 000000, Xxxxx 0000, XxxxxxxXxxxxxxx, XX 00000-0000 0000, or if sent by overnight courier, The Northern Trust CompanyFirst Industrial, 000 L.P. 100363, JPM Chase, 0000 Xxxxx Xxxxxxx Xxxxxx, 0xx Xxxxx Receipt and Dispatch000, Xxxxxxxx 0, Xxx Xxxxxxx, XX 00000 Attn: First Industrial Development Services, Inc., Suite 1066 (or to such other entity designated as Landlord’s management agent, if any, and if Landlord so appoints such a management agent, the “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise to Tenant not less than thirty (30) days in advance in writing.
Appears in 1 contract
Samples: KAR Holdings, Inc.
Types of Rental Payments. Tenant shall pay net base rent to Landlord in monthly installments, in advance, on the first day of each and every calendar month during the Term of this Lease (the “Base Rent”) in the amounts and for the periods as set forth below: Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 1 $ 1,298,460 561,995 $ 108,205 46,832.92 Year 2 $ 1,298,460 561,995 $ 108,205 46,832.92 Year 3 $ 1,298,460 596,221 $ 108,205 49,685.08 Year 4 $ 1,377,936 596,221 $ 114,828 49,685.08 Year 5 $ 1,405,500 632,531 $ 117,125 52,710.92 Year 6 $ 1,433,616 632,531 $ 119,468 52,710.92 Year 7 $ 1,462,284 671,052 $ 121,857 55,921.00 Year 8 $ 1,491,528 671,052 $ 124,294 55,921.00 Year 9 $ 1,521,360 711,919 $ 126,780 59,326.58 Year 10 $ 1,551,792 711,919 $ 129,316 59,326.58 Year 11 $ 1,582,824 755,275 $ 131,902 62,939.58 Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 12 $ 1,614,480 755,275 $ 134,540 62,939.58 Year 13 $ 1,646,772 801,271 $ 137,231 66,772.58 Year 14 $ 1,679,712 801,271 $ 139,976 66,772.58 Year 15 $ 1,711,104 850,068 $ 142,592 70,839.00 Year 16 $ 850,068 $ 70,839.00 Year 17 $ 901,837 $ 75,153.08 Year 18 $ 901,837 $ 75,153.08 Year 19 $ 956,759 $ 79,729.92 Year 20 $ 956,759 $ 79,729.92 Tenant shall also pay all Operating Expenses (defined below) and any other amounts owed by Tenant hereunder, including amounts owed by Tenant pursuant to the Tri-Party Agreement (defined in Section 4.4 below) hereunder (collectively, “Additional Rent”). In the event any monthly installment of Base Rent or Additional Rent, or both, is not paid within 10 ten (10) days of the date when due, a late charge in an amount equal to 5% of the then then-delinquent installment of Base Rent and/or Additional Rent (the “Late Charge”; the Late Charge, Default Interest, as defined in Section 22.3 21.3 below, Base Rent and Additional Rent are shall collectively be referred to as “Rent”), ) shall be paid by Tenant to Landlord. Landlord and Tenant agree that (a) such Late Charge and Default Interest are intended to compensate Landlord for additional administrative charges and other damages incurred by Landlord on account of such late payment and do not constitute a penalty, (b) the actual damages to be suffered by Landlord in the event of a late payment of Rent shall be difficult, if not impossible, to ascertain, and (c/o ) that such Late Charge and Default Interest are a reasonable estimate of such charges and damages. Tenant shall deliver all Rent payments to Landlord at: First IndustrialIndustrial LP, L.P.P.O. Box 730632, 00 Xxxxxxxxxx XxxxxDallas, Xxxxx 0000TX 75373-0632, Xxxxxxx, XX 00000-0000 or and if sent by overnight courier, The Northern Trust Companyto Dallas National Wholesale Lockbox TX1-0029, 000 Xxxxx Xxxxxxx Xxxxxx, 0xx Xxxxx Receipt and Dispatch, Xxxxxxx, XX 00000 Attn: First Industrial Development ServicesIndustrial, Inc.Box #730816, Suite 1066 00000 Xxxx Xx, Fort Worth, TX 76155 (or to such other entity designated as Landlord’s management agent, if any, and if Landlord so appoints such a management agent, the “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise to Tenant not less than thirty (30) days in advance in writing.
Appears in 1 contract
Samples: KAR Holdings, Inc.
Types of Rental Payments. Tenant shall pay net base rent to Landlord in monthly installments, in advance, on the first day of each and every calendar month during the Term of this Lease (the “Base Rent”) in the amounts and for the periods as set forth below: Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 1 $ 1,298,460 413,284 $ 108,205 34,440.33 Year 2 $ 1,298,460 413,284 $ 108,205 34,440.33 Year 3 $ 1,298,460 438,453 $ 108,205 36,537.75 Year 4 $ 1,377,936 438,453 $ 114,828 36,537.75 Year 5 $ 1,405,500 465,155 $ 117,125 38,762.92 Year 6 $ 1,433,616 465,155 $ 119,468 38,762.92 Year 7 $ 1,462,284 493,483 $ 121,857 41,123.58 Year 8 $ 1,491,528 493,483 $ 124,294 41,123.58 Year 9 $ 1,521,360 523,536 $ 126,780 43,628.00 Year 10 $ 1,551,792 523,536 $ 129,316 43,628.00 Rental Payments Lease Period Annual Base Rent Monthly Base Rent Year 11 $ 1,582,824 555,419 $ 131,902 46,284.92 Year 12 $ 1,614,480 555,419 $ 134,540 46,284.92 Year 13 $ 1,646,772 589,244 $ 137,231 49,103.67 Year 14 $ 1,679,712 589,244 $ 139,976 49,103.67 Year 15 $ 1,711,104 625,129 $ 142,592 52,094.08 Year 16 $ 625,129 $ 52,094.08 Year 17 $ 663,199 $ 55,266.58 Year 18 $ 663,199 $ 55,266.58 Year 19 $ 703,588 $ 58,632.33 Year 20 $ 703,588 $ 58,632.33 Tenant shall also pay all Operating Expenses (defined below) and any other amounts owed by Tenant hereunder, including amounts owed by Tenant pursuant to the Tri-Party Agreement (defined in Section 4.4 below) hereunder (collectively, “Additional Rent”). In the event any monthly installment of Base Rent or Additional Rent, or both, is not paid within 10 ten (10) days of the date when due, a late charge in an amount equal to 5% of the then then-delinquent installment of Base Rent and/or Additional Rent (the “Late Charge”; the Late Charge, Default Interest, as defined in Section 22.3 21.3 below, Base Rent and Additional Rent are shall collectively be referred to as “Rent”), ) shall be paid by Tenant to Landlord. Landlord and Tenant agree that (a) such Late Charge and Default Interest are intended to compensate Landlord for additional administrative charges and other damages incurred by Landlord on account of such late payment and do not constitute a penalty, (b) the actual damages to be suffered by Landlord in the event of a late payment of Rent shall be difficult, if not impossible, to ascertain, and (c) that such Late Charge and Default Interest are a reasonable estimate of such charges and damages. Tenant shall deliver all Rent payments to Landlord at: c/o First IndustrialIndustrial Pennsylvania LP, L.P.X.X. Xxx 00000, 00 Xxxxxxxxxx Xxxxx, Xxxxx 0000, XxxxxxxXxxxxx, XX 00000-0000 0000, or if sent by overnight courier, The Northern Trust CompanyXX Xxxxxx National Processing Ctr, 3rd Floor, 000 Xxxxx Xxxxxxx XxxxxxXxxxxx Xxxxxx Boulevard, 0xx Xxxxx Receipt and DispatchSecaucus, XxxxxxxNJ 07094, XX 00000 Attn: First Industrial Development Services, Inc., Suite 1066 FILP LBX 33098 (or to such other entity designated as Landlord’s management agent, if any, and if Landlord so appoints such a management agent, the “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise to Tenant not less than thirty (30) days in advance in writing.
Appears in 1 contract
Samples: KAR Holdings, Inc.
