Common use of Base Rent Generally Clause in Contracts

Base Rent Generally. On each Base Rent Date through the end of the Term, ChoicePoint must pay BNPPLC rent (“Base Rent”), calculated as provided below . Each payment of Base Rent must be received by BNPPLC no later than 11:00 a.m. (Central time) on the date it becomes due; if received after 11:00 a.m. (Central time) it will be considered for purposes of this Lease as received on the next following Business Day. At least five days prior to any Base Rent Date upon which an installment of Base Rent becomes due, BNPPLC will notify ChoicePoint in writing of the amount of each installment, calculated as provided below. Any failure by BNPPLC to so notify ChoicePoint, however, will not constitute a waiver of BNPPLC’s right to payment, but absent such notice ChoicePoint will not be in default hereunder for any underpayment resulting therefrom if ChoicePoint, in good faith, reasonably estimates the payment required, makes a timely payment of the amount so estimated and corrects any underpayment within three Business Days after being notified by BNPPLC of the underpayment.