Common use of Annual Basic Rent and Additional Rent Clause in Contracts

Annual Basic Rent and Additional Rent. Yielding and paying therefor during the term the following rent payable at the landlord’s address specified on page 1 or at such other place as the landlord may from time to time designate in writing; (a) Annual Basic Rent payable in advance in equal consecutive monthly installments on the first day of each and every month in each and every year of the term commencing on the commencement date and continuing until and including the first day of the month immediately preceding the expiry date; and: Late payment fee of $250 per payment will be charge on late payment (b) Additional Rent payable in accordance with the previsions of this lease (c) Triple Net Rent Cost will be payable in accordance with clause 3.1(a) of this lease