6. RENT - EXTENDED TERM
Tenant shall pay to Landlord throughout any Extended Term of this
Lease as rental for the Premises:
- (i) The Base Rent for the Extended Term is specified in Item 17
of the Term Sheet; and
- (ii) In addition to the Extended Term Base Rent Tenant shall pay
monthly to Landlord on the same due date as the Extended Term
Base Rent commencing the first anniversary of the Extended Term
Commencement Date (a) an amount equal to the product obtained
by multiplying Tenant's Percentage Share times the remainder obtained
by subtracting the Extended Term Base Operating Expenses from
the estimated Operating Expenses for the Calendar Year in question
and (b) an amount equal to the product obtained by multiplying
Tenant's Percentage Share times the remainder obtained by subtracting
the Extended Term Base Property Taxes from the estimated Property
Taxes for the Calendar Year in question. The Extended Term Base
Operating Expenses and Extended Term Base Property Taxes shall
be the Operating Expenses and Property Taxes incurred by Landlord
in the Calendar Year immediately preceding the Term Expiration
Date indicated in Item 13 of the Term Sheet.
Such Extended Term Base Rent and Tenant's Percentage Share of
increased Operating Expenses and Property Taxes shall here in
collectively be referred to as "Extended Term Rent."
Except as otherwise provided above, all other terms, calculations
and obligations with respect to Rent included in Section 5(b),
(c) and (d) shall likewise be applicable to the payment of Extended
Term Rent.
- (iii) Tenant will promptly pay all operating and property tax
expenses as estimated by Landlord. In the event that tenant shall
fail to pay Base Rent or any additional rent within five (5) days
after its due date, Tenant shall pay an automatic late charge
to Landlord of $.05 for each dollar overdue. Such late charge
shall be deemed additional rent for all purposes under this Lease.
Tenant will use the procedures outlined in subparagraph (5.xvi.)
to resolve any disputed amount.
Previous Section
Next Section
|
National Office Lease |
Lease Home |
SiteNet ToolKit |
SiteNet Home |
Search |
Copyright 1996 Conway Data, Inc. All rights reserved
Legal Notice: Because data comes from many sources, Conway Data
can assume no responsibility for accuracy or currency.