Rent Contract Clauses (888)

Rent. a. Payment of Rent. Tenant shall pay Landlord without notice, demand, deduction, or offset, in lawful money of the United States, Base Rent in advance on or before the first day of each month during the Lease term beginning on the Commencement Date, and shall also pay any other additional payments due to Landlord ("Additional Rent") (collectively, "rent" or "Rent") when required under this Lease. Payments for any partial month at the beginning or end of the Lease shall be prorated. All payments ...due to Landlord under this Lease, including late fees and interest, shall also constitute Additional Rent, and upon failure of Tenant to pay any such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for the failure of Tenant to pay rent. b. Late Charges; Default Interest. If any sums payable by Tenant to Landlord under this Lease are not received within five (5) business days after their due date, Tenant shall pay Landlord an amount equal to the greater of $100 or five percent (5%) of the unpaid amount in order to compensate Landlord for the cost of collecting and handling such late payment in addition to the amount due and as Additional Rent. All delinquent sums payable by Tenant to Landlord and not paid within five (5) business days after their due date shall, at Landlord's option, shall bear interest at the rate of twelve percent (12%) per annum, or the highest rate of interest allowable by law, whichever is less (the "Default Rate"). Interest on all delinquent amounts shall be calculated from the original due date to the date of payment. c. Less Than Full Payment. Landlord's acceptance of less than the full amount of any payment due from Tenant shall not be deemed an accord and satisfaction or compromise of such payment unless Landlord specifically consents in writing to payment of such lesser sum as an accord and satisfaction or compromise of the amount which Landlord claims. Any portion that remains to be paid by Tenant shall be subject to the late charges and default interest provisions of this Section. View More

Rent. 3.1 Base Rent. Tenant agrees to pay Landlord, as basic rent for the Premises, the Monthly Basic Rent in the amounts designated in Section 1.8 of the Summary. The Monthly Basic Rent shall be paid by Tenant in monthly installments in advance on the first day of each and every calendar month during the Term, without demand, notice, deduction or offset except that the first full month's Monthly Basic Rent shall be paid upon Tenant's execution and delivery of this Lease to Landlord. Monthly Basic Ren...t for any partial month shall be prorated in the proportion that the number of days this Lease is in effect during such month bears to the actual number of days in such month. 3.2 Additional Rent. All amounts and charges payable by Tenant under this Lease in addition to the Monthly Basic Rent described in Section 3.1 above (including, without limitation, payments for insurance, repairs, and Tenant's Percentage Share of Expenses) shall be considered "Additional Rent" for the purposes of this Lease, and the word "Rent" in this Lease shall include Monthly Basic Rent and such Additional Rent. The Monthly Basic Rent and Additional Rent shall be paid to Landlord as provided in Section 7, without any prior demand therefore, except as otherwise expressly provided herein, and without any deduction or offset whatever, in lawful money of the United States of America. 3 3.3 Conditional Abated Monthly Basic Rent. There will be no Rent due for the period of time from the Commencement Date to the Rent Commencement Date. Tenant will be responsible for its utilities during that period. Provided that an Event of Default has not occurred. Tenant shall not be obligated to pay Monthly Basic Rent attributable to the Premises (the "Rent Abatement") during the first three (3) full calendar months after the Rent Commencement Date (the "Rent Abatement Period") and any prepaid Monthly Basic Rent shall be applicable after the expiration or earlier termination of the Rent Abatement Period. Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the Rent and perform the terms and conditions otherwise required under this Lease. If an Event of Default of Basic Rent shall occur during the first five (5) years of the Term that is not corrected within a second notice period of ten (10) days written notice to Tenant after the notice given to make the default an Event of Default, then, in addition to any other remedies Landlord may have under this Lease, Tenant shall reimburse Landlord for any Rent Abatement received after the Rent Commencement Date. In addition to the foregoing, Tenant is hereby granted credits against Monthly Basic Rent in the amounts of (i) $146,431.56 (the "Office Credit") and (ii) $500,000.00 (the "AWN Credit") for a total credit of $646,431.56. The AWN Credit shall be applied against Monthly Basic Rent first due and payable following the Rent Abatement Period. The Office Credit shall be applied against Monthly Basic Rent payable after Tenant has obtained its first permit for the performance of the Tenant Improvements and Tenant has commenced and performed Tenant Improvements for at least thirty (30) days. View More

Rent. 3.1 Base Rent. Except as otherwise provided in this Lease, Tenant agrees to pay Landlord, promptly when due, without notice or demand and without deduction or set-off of any amount for any reason whatsoever, as "Base Rent" for the Premises, the annual amount set forth in Section 8 of the 1 Summary, which shall be payable in the monthly installment amounts set forth in Section 8 of the Summary. Said monthly installments of Base Rent shall be payable in advance on the first (1st) day of each calen...dar month during the Lease Term, except that the Base Rent for the first (1st) full calendar month of the Lease Term shall be paid at the time of Tenant's execution of this Lease. 3.2 Adjustment of Rent on Commencement or Expiration. In the event the Lease Term commences or expires on a day other than the first (1st) day of a calendar month, Tenant shall pay to Landlord on the first (1st) day of the Lease Term, or on the first (1st) day of the month in which the Lease Term expires, a sum determined by multiplying one-thirtieth (1/30) of the monthly installment of Base Rent by the number of days in the first (1st) or last calendar month of the Lease Term. 3.3 Operating Expenses. In addition to paying the Base Rent specified in Section 3.1 above, Tenant agrees to pay Landlord, as additional rent, together with monthly installments of Base Rent, Tenant's Share of Operating Expenses defined in Sections 6.1 and 6.2 below. 3.4 Place of Payment; Landlord's Rent Address. Base Rent, Tenant's Share of Operating Expenses and all other sums or charges required by this Lease to be paid by Tenant to Landlord, all of which are herein sometimes collectively referred to as "Rent," shall be paid to Landlord at Landlord's Rent Address (as defined below) or to such other persons, or at such other places designated by Landlord. "Landlord's Rent Address" shall mean Simmco LLC, P.O. Box 2351, Hollister, CA 95024, or such other place as Landlord may, from time to time, designate in writing. View More

Rent. The total rent is $2,349,960.00, lawful money of the United States of America, which Lessee shall pay to Lessor, without deduction or offset, at such place or places as may be designated from time to time in writing by Lessor, in installments as follows: $19,583.00 on or before the 1st day of each and every month during the term hereof, commencing on the 1st day of December 2015. 1 Any rent increases under this Lease shall commence no earlier than three (3) years after the date of the commenceme...nt of this Lease. The maximum amount that the rent may be increased in any one year (starting in the fourth year of this Lease) shall be five 5% over the beginning base rent under this Lease. View More

Rent. Basic Rent: The sum of $5,005.20 shall be due on the first day of February 2019, and each month thereafter thru the last day of January 2020. When 34-month renewal option commences: Adjustment after the first 12 months of rent agreement the rental amount will be adjusted as follows: Effective upon the first day of the month immediately following the 12-month expiration from date of commencement of the term, and upon the expiration of each 12 months thereafter, in accordance with a fixed 4% annua...l increases. The sum of $3210.30 shall be due on the first day of February 1, 2020, and each month thereafter thru the last day of January 2021. The sum of $3,378.71 shall be due on the first day of February 2021, and each month thereafter thru the last day of January 2022. The sum of $3,472.26 shall be due on the first day of February 2022 and each month thereafter thru the last day of January 2023. The sum of $3,611.15 shall be due on the first day of February 2023, and each month thereafter thru the last day of June 2023. Such Basic Rent shall be payable, without off-set or demand, on the first day of each calendar month beginning on the Commencement Date and continuing until the termination of this Lease pursuant to Section 3.1 of this Lease. 4.4 Security Deposit. Tenant has paid or will pay Landlord the amount of three thousand two hundred ten 30/100 dollars ($3,210.30) as refundable security for the full and faithful performance of each of the terms hereof by Tenant. Landlord shall not be required to keep this security deposit separate from its general funds and Tenant shall not be entitled to interest thereon. If Tenant defaults with respect to any provision of this Lease, including but not limited to the provisions relating to the payment of rent, Landlord may, but shall not be required to, use, apply or retain all or any part of this security deposit for the payment of any rent or any other sum in default, or for the payment of any other amount which Landlord may spend or become obligated to spend by reason of Tenant's default or to compensate Landlord for any other loss or 2 damage which Landlord may suffer by reason of Tenant's default, including without limitation, costs and attorneys' fees incurred by Landlord to recover possession of the Premises upon a default by Tenant hereunder. If any portion of said deposit is so used or applied, Tenant shall, upon demand therefor, deposit cash with Landlord in an amount sufficient to restore the security deposit to its original amount and Tenant' s failure to do so shall constitute a default hereunder by Tenant. 4.5 Parking Facilities. Tenant and its' guests shall be entitled to the non-exclusive use of any on-site parking spaces as may be designated by Landlord. Tenant shall comply with all rules and regulations which Landlord may adopt from time to time for the operation and use of such parking facilities. View More

Rent. (a) Tenant shall pay to Landlord, as rent for the Leased Premises during the Term, on the Closing Date (if the Closing Date occurs after the tenth (10th) day of the calendar month in which the Closing Date occurs) and on each Basic Rent Payment Date occurring after the Closing Date, the Basic Rent for the calendar month in which such Basic Rent Payment Date occurs, and shall pay the same by ACH or wire transfer in immediately available federal funds, by 1:00 p.m., New York time on the date due, ...to such account in such bank as Landlord shall designate from time to time in writing. In the event that the Closing Date is a date other than the first day of a calendar month, the Basic Rent due on the Closing Date (or on the tenth (10th) day of such calendar month if the Closing Date occurs prior to such tenth (10th) day) shall be an amount equal to the amount of Basic Rent set forth on Exhibit B hereto for the first Basic Rent Payment Date, times 1/30, times the number of days from and including the Closing Date to and excluding the first day of the following calendar month, and the Basic Rent due on the first Business Day of the month following the month in which the Closing Date occurs shall be the amount set forth on Exhibit B for the first Basic Rent Payment Date. (b) Tenant shall pay and discharge, as Additional Rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. Notwithstanding the foregoing, Tenant shall not be required to pay any obligations Landlord may voluntarily elect to incur unless this Lease expressly requires or permits the incurring of such obligation or expressly requires Tenant to pay the same. All payments of Additional Rent that are payable to Landlord shall be paid by Tenant by ACH or wire transfer in immediately available federal funds in the same manner as payments of Basic Rent in Section 6(a) (unless otherwise specified by Landlord to Tenant in writing). (c) If any installment of Basic Rent or Additional Rent is not paid when the same is due, Tenant shall pay to Landlord, on demand, as Additional Rent, interest on such installment from the date such installment was due to the date such installment is paid at the Default Rate, provided that the first such late installment in any calendar year shall not commence to accrue such interest at the Default Rate until the date that is five (5) days after delivery to Tenant of written notice from Landlord that such installment has not been paid on time. In addition to the interest payable pursuant to the foregoing sentence, to the extent Tenant fails to make a payment of Basic Rent or Additional Rent by the applicable due date more than two (2) times in any calendar year, any payment not received by the applicable due date after the second instance of late payment in such calendar year shall incur a late charge in the amount of one percent (1%) of such late payment amount (except to the extent such late charge is prohibited by applicable law). Tenant and Landlord agree that this late charge represents a reasonable sum (considering all of the circumstances existing on the date of the execution of this Lease) and a fair and reasonable estimate of the costs that Landlord will incur by reason of Tenant's failure to pay such amounts on time. Tenant and Landlord further agree that proof of actual damages would be costly and inconvenient. Acceptance of any late charge shall not constitute a waiver of the default with respect to the overdue Basic Rent or Additional Rent payment and shall not prevent Landlord from exercising any of the other rights available under this Lease, except to the extent Tenant has cured such default by paying the overdue Basic Rent or Additional Rent in full. (d) Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall reflect the transactions represented by this Lease in all applicable books, records and reports (including, without limitation, income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment. View More

Rent. "Rent" shall be payable to Lessor during the Lease Term in the amounts and at the times provided in the Schedule. If any Rent or other amount payable hereunder is not paid within 10 days of its due date, Lessee shall pay an administrative late charge of 5% of the amount not timely paid. All Rent and other amounts payable under a Lease shall be made in immediately available funds at Lessor's address above or such other place as Lessor shall specify in writing. Unless otherwise provided herein, pa...yments received under any Lease will be applied to all interest, fees and amounts owing thereunder (other than Rent), and then to Rent payable thereunder. View More