Common use of Fixed Annual Rent Clause in Contracts

Fixed Annual Rent. (i) There is herein reserved to Landlord for the entire term of this lease fixed annual rent equal to the aggregate amount of the sums hereinafter set forth and/or as calculated (a) in this Article 2 and, (b) if and so long as Landlord provides electricity to the demised premises, in Article 3. Fixed annual rent shall be paid in advance as follows: Commencing on and on the first day of each month throughout the term of this lease, Tenant shall pay to Landlord, without notice, credit, set off, deduction, counterclaim or reduction (except as may be specifically set forth herein), fixed annual rent as follows (except that the first monthly installment of fixed annual rent is being paid upon the execution hereof): (a) for the period from the Commencement Date through and including the day immediately preceding the five (5) year five (5) month and one (1) week anniversary of the Commencement Date, the amount of $982,864.00 per annum, such amount to be paid in consecutive equal monthly installments of $81,905.33 during such period; and (b) for the period from the five (5) year five (5) month and one (1) week anniversary of the Commencement Date through and including the Expiration Date, the amount of $1,087,424.00 per annum, such amount to be paid in consecutive equal monthly installments of $90,618.67 during such period. (ii) Should the Commencement Date occur on any day other than the first day of a month, then the fixed annual rent for the unexpired portion of such month shall be adjusted and prorated on a per diem basis and any overpayment of the first month’s fixed annual rent shall be credited against the next month’s installment of fixed annual rent coming due. (iii) For so long as Tenant is not in default, beyond any applicable grace or cure period, of any term of this lease (which includes each Exhibit hereto), Tenant shall receive a rent credit against fixed annual rent in the amount of Nine Hundred Forty-One Thousand Nine Hundred Eleven Dollars and Thirty-Three ($941,911.33) Cents, which credit shall be applied, until exhausted, in monthly installments against the first monthly installments of fixed annual rent payable hereunder (until exhausted), except the installment being paid upon execution hereof. If the term of this lease is terminated prior to its stated expiration date for any reason not the result of Landlord’s default, then in addition to all other damages, rights and remedies herein provided and provided by law for Landlord, Landlord shall be entitled to the return of the total amount of the such rent credit theretofore enjoyed by Tenant, which sum shall be deemed additional rent due and owing prior to such termination of the term hereof. The obligation of Tenant to pay such additional rent to Landlord shall survive the termination of the term of this lease. Anything in this paragraph to the contrary notwithstanding, Tenant shall continue to be responsible for paying all additional rent hereunder without any credit, set off, deduction or reduction by reason of this paragraph.

Fixed Annual Rent. (i) There is herein reserved to Landlord for the entire term of this lease fixed annual rent equal to the aggregate amount of the sums hereinafter set forth and/or as calculated (a) in this Article 2 and, (b) if and so long as Landlord provides electricity to the demised premises, in Article 34.1. Fixed annual rent shall be paid in advance as follows: Commencing on and on the first day of each month throughout the term of this lease, Tenant shall pay to Landlord, without notice, credit, set off, deduction, counterclaim or reduction (except as may be specifically set forth herein), fixed annual rent as follows (except that the first monthly installment of fixed annual rent is being paid upon the execution hereof): (a) for the period from the Commencement Date through and including the day immediately preceding the five (5) year five (5) month and one (1) week anniversary of the Commencement Date, the amount of $982,864.00 per annum, such amount to be paid in consecutive equal monthly installments of $81,905.33 during such period; and (b) for the period from the five (5) year five (5) month and one (1) week anniversary of the Commencement Date through and including the Expiration Date, the amount of $1,087,424.00 per annum, such amount to be paid in consecutive equal monthly installments of $90,618.67 during such period. (ii) Should the Commencement Date occur on any day other than the first day of a month, then the The fixed annual rent for the unexpired portion of such month 31st Floor Premises shall be adjusted payable as follows: (a) For the period commencing on the Effective Date and prorated ending on a per diem basis and any overpayment January 31, 2015, at the applicable rate provided in Section 1.01 of the first monthLease; (b) For the period commencing on February 1, 2015 and ending on September 30, 2015, provided Tenant is not then in default beyond the expiration of any applicable notice and cure period, fixed annual rent, Tenant’s Tax Payment, the Expense Payment, Insurance Expense Payment and Energy Expense Payment (as such terms are hereinafter defined) for the 31st Floor Premises shall be abated (it being agreed that if Tenant is so in default, fixed annual rent for such period shall be credited against payable at the next rate provided for in Section 4.1(c) hereof and Tenant’s Tax Payment, the Expense Payment, Insurance Expense Payment and Energy Expense Payment for such period shall be payable as otherwise provided in Section 5 hereof); (c) For the period commencing on October 1, 2015 and ending on September 30, 2018, at the rate of $882,970.00 per annum ($73,580.83 per month’s installment ); (d) For the period commencing on October 1, 2018 and ending on September 30, 2022, at the rate of $921,360.00 per annum ($76,780.00 per month); and (e) For the period commencing on October 1, 2022 and ending on the Extended Term Expiration Date, at the rate of $959,750.00 per annum ($79,979.17 per month). 4.2. The fixed annual rent coming due.for the 29th Floor Premises shall be payable as follows: (iiia) For so long as the period commencing on the Effective Date and ending on the fourteen (14) month anniversary thereof (the “29th Floor Rent Commencement Date”), provided Tenant is not then in default beyond the expiration of any applicable notice and cure period, fixed annual rent, Tenant’s Tax Payment, the Expense Payment, Insurance Expense Payment and Energy Expense Payment for the 29th Floor Premises shall be abated (it being agreed that if Tenant is so in default, fixed annual rent for such period shall be payable at the rate provided for in Section 4.2(b) hereof and Tenant’s Tax Payment, the Expense Payment, Insurance Expense Payment and Energy Expense Payment for such period shall be payable as otherwise provided in Section 5 hereof); (b) For the period (the “29th Floor First Rental Period”) commencing on the 29th Floor Rent Commencement Date and ending on the last day of the month in which occurs the three (3) year anniversary of the 29th Floor Rent Commencement Date (unless the 29th Floor Rent Commencement Date is the first day of the month, in which event the 29th Floor First Rental Period shall end on the day preceding the three (3) year anniversary of the 29th Floor Rent Commencement Date), at the rate of $882,970.00 per annum ($73,580.83 per month); (c) For the period (the “29th Floor Second Rental Period”) commencing on the day immediately following the 29th Floor First Rental Period and ending on the day preceding the four (4) year anniversary thereof, at the rate of $921,360.00 per annum ($76,780.00 per month); and (d) For the period (the “29th Floor Third Rental Period”) commencing on the day immediately following the 29th Floor Second Rental Period and ending on the Extended Term Expiration Date, at the rate of $959,750.00 per annum ($79,979.17 per month). 4.3. The fixed annual rent for the 28th Floor Premises shall be payable as follows: (a) For the period commencing on the 28th Floor Commencement Date and ending on the later to occur of (x) October 1, 2015 and (y) the day preceding the seventeen (17) month anniversary thereof (such later date known as the “28th Floor Rent Commencement Date”), provided Tenant is not then in default beyond the expiration of any applicable grace or notice and cure period, of any term of this lease (which includes each Exhibit hereto), Tenant shall receive a rent credit against fixed annual rent in for the amount of Nine Hundred Forty-One Thousand Nine Hundred Eleven Dollars and Thirty-Three ($941,911.33) Cents, which credit 28th Floor Premises shall be appliedabated (it being agreed that if Tenant is so in default, until exhausted, in monthly installments against the first monthly installments of fixed annual rent for such period shall be payable hereunder at the rate provided for in Section 4.3(b) hereof); (until exhaustedb) For the period (the “28th Floor First Rental Period”) commencing on the 28th Floor Rent Commencement Date and ending on the last day of the month in which occurs the three (3) year anniversary of the 28th Floor Rent Commencement Date (unless the 28th Floor Rent Commencement Date is the first day of the month, in which event the 28th Floor First Rental Period shall end on the day preceding the three (3) year anniversary of the 28th Floor Rent Commencement Date), except at the installment being paid upon execution hereof. If rate of $882,970.00 per annum ($73,580.83 per month); (c) For the term period (the “28th Floor Second Rental Period”) commencing on the day immediately following the 28th Floor First Rental Period and ending on the day preceding the four (4) year anniversary thereof, at the rate of this lease is terminated prior to its stated expiration date for any reason not $921,360.00 per annum ($76,780.00 per month); and (d) For the result period (the “28th Floor Third Rental Period”) commencing on the day immediately following the 28th Floor Second Rental Period and ending on the Extended Term Expiration Date, at the rate of Landlord’s default, then in addition to all other damages, rights and remedies herein provided and provided by law for Landlord, Landlord shall be entitled to the return of the total amount of the such rent credit theretofore enjoyed by Tenant, which sum shall be deemed additional rent due and owing prior to such termination of the term hereof. The obligation of Tenant to pay such additional rent to Landlord shall survive the termination of the term of this lease. Anything in this paragraph to the contrary notwithstanding, Tenant shall continue to be responsible for paying all additional rent hereunder without any credit, set off, deduction or reduction by reason of this paragraph$959,750.00 per annum ($79,979.17 per month).

Fixed Annual Rent. (i) There is herein reserved to Landlord for the entire term of this lease Lease fixed annual rent equal to the aggregate amount of the sums hereinafter set forth and/or forth, as calculated (a) in this Article 2 and, (b) if and so long as Landlord provides electricity to the demised premisesDemised Premises on a rent inclusion basis, in Article 3. Fixed 3.Fixed annual rent shall be paid in advance as follows: Commencing commencing on 20th Floor Commencement Date or the 21st Floor commencement Date, as applicable, and on the first day of each month thereafter throughout the term of this leaseLease, Tenant shall pay to Landlord, without notice, credit, set offcounterclaim, deduction, counterclaim set off or reduction (except as may be specifically set forth herein), monthly payments of fixed annual rent as follows equal to one-twelfth (1/12th) of each of the following annual amounts (except that the first monthly installment of fixed annual rent for the entire Demised Premises, in the amount of $304,892.92, is being paid upon the execution hereof):): FOR THE 20TH FLOOR PORTION: (a) for the period from the 20th Floor Commencement Date through and including the last day immediately preceding the five (5) year five (5) month and one (1) week anniversary of the Commencement Date, the amount of sixth Lease Year: Two Million Eighteen Thousand One Hundred Thirty-Three and 00/100 ($982,864.00 2,018,133.00) Dollars perannum ($168,177.75 per annum, such amount to be paid in consecutive equal monthly installments of $81,905.33 during such periodmonth); and (b) for the period from the five (5) year five (5) month and one (1) week anniversary first day of the seventh Lease Year through the last day of the eleventh Lease Year: Two Million Two Hundred Thirty-Two Thousand Eight Hundred Twenty-Eight and 00/100 ($2,232,828.00) Dollars perannum ($186,069.00 per month). FOR THE 21ST FLOOR PORTION: (a) from the 21st Floor Commencement Date through the last day of the sixth Lease Year: One Million Six Hundred Forty Thousand Five Hundred Eighty-Two and including 00/100 ($1,640,582.00) Dollars per annum ($136,715.17 per month); and (b) from the Expiration Date, first day of the amount seventh Lease Year through the last day of the eleventh Lease Year: One Million Eight Hundred Fifteen Thousand One Hundred Twelve and 00/100 ($1,087,424.00 1,815,112.00) Dollars per annum, such amount to be paid in consecutive equal monthly installments of annum ($90,618.67 during such period151,259.33 per month). (ii) Should the Commencement Date occur on any day other than the first day of a month, then the fixed annual rent for the unexpired portion of such month shall be adjusted and prorated on a per diem basis and any overpayment of the first month’s fixed annual rent shall be credited against the next month’s installment of fixed annual rent coming due. (iii) For so long as Tenant is not in default, beyond any applicable grace or cure period, of any monetary or other material term of this lease Lease (which includes including each Exhibit hereto), Tenant shall receive a rent credit against fixed annual rent in the amount of Two Million Three Hundred Seventy-Two Thousand Five Hundred Seventy-Nine Hundred Forty-One Thousand Nine Hundred Eleven Dollars and Thirty-Three 58/100 ($941,911.332,372,579.58) CentsDollars, which rent credit shall be applied, until fully exhausted, in monthly installments against the first monthly installments of fixed annual rent payable hereunder (until exhausted)under this Lease with respect to the 20th Floor Portion, from and after the 20th Floor Commencement Date, except the installment being paid upon execution hereofhereof (which shall be applied against the first payment of fixed annual rent due following full depletion of the aforesaid rent credit). If the term of this lease Lease is terminated prior to its stated expiration date for any reason not the solely as a result of Landlord’s defaultany uncured default by Tenant, then then, in addition to all other damages, rights and remedies herein provided and provided by law for Landlord, Landlord shall be entitled to the return of the total amount of the such rent credit theretofore enjoyed by Tenant, which sum shall be deemed additional rent due and owing prior to such termination of the term hereof. The obligation of Tenant to pay such additional rent to Landlord shall survive the termination of the term of this leaseLease. Anything in this paragraph to the contrary notwithstanding, Tenant shall continue to be responsible for paying all additional rent hereunder and electric charges due under this Lease during the period covered by such rent credit without any credit, set offsetoff, deduction or reduction by reason of this paragraphparagraph (except as otherwise expressly provided herein). (iv) For so long as Tenant is not in default, beyond any applicable grace or cure period, of any monetary or other material term of this Lease(including each Exhibit hereto), Tenant shall receive a rent credit against fixed annual rent in the amount of One Million Six Hundred Forty Thousand Five Hundred Eighty-Two and 00/100 ($1,640,582.00) Dollars, which rent credit shall be applied, until fully exhausted, against the first fixed annual rent payable under this Lease with respect to the 21st Floor Portion, from and after the 21st Floor Commencement Date, except the installment being paid upon execution hereof(which shall be applied against the first payment of fixed annual rent due following full depletion of the aforesaid rent credit). If the term of this Lease is terminated prior to its stated expiration date solely as a result of any uncured default by Tenant, then, in addition to all other damages, rights and remedies herein provided and provided by law for Landlord, Landlord shall be entitled to the return of the total amount of such rent credit theretofore enjoyed by Tenant, which sum shall be deemed additional rent due and owing prior to such termination of the term hereof. The obligation of Tenant to pay such additional rent to Landlord shall survive the termination of the term of this Lease. Anything in this paragraph to the contrary notwithstanding, Tenant shall be responsible for paying all additional rent and electric charges due under this Lease during the period covered by such rent credit without any credit, setoff, deduction or reduction by reason of this paragraph (except as otherwise expressly provided herein).