Common use of Fixed Annual Rent Clause in Contracts

Fixed Annual Rent. There is herein reserved to Landlord for the entire term of this lease fixed annual rent (without electricity) and subject to adjustment pursuant to paragraph B below equal to the aggregate amount of the sums hereinafter set forth. Fixed annual rent shall be paid in advance as follows: Commencing on and on the first day of each month thereafter throughout the term of this lease, Tenant shall pay to Landlord, without notice, deduction, set off or reduction (except as specifically set forth herein), monthly payments of fixed annual rent equal to one-twelfth (1/12th) of each of the following annual amounts (except that the first monthly installment of fixed annual rent is being paid upon the execution hereof): (i) March 1, 2003 through February 28, 2008: Forty-Six Thousand One Hundred Forty-Four and 00/100 ($46,144.00) Dollars per annum ($3,845.33 per month); and (ii) March 1, 2008 through February 28, 2013: Fifty-One Thousand Eighty-Eight and no/100 ($51, 088.00) Dollars per annum ($4,257.3er month). If and so long as Tenant is not in default of any obligation on its part to be performed hereunder, Tenant shall receive a rent credit of Fifteen Thousand Three Hundred Eighty-One and 33/100 ($15,381.33) Dollars, to be applied (i) in two (2) equal monthly installments of Three Thousand Eight Hundred Forty Five and 33/100 ($3,845.33) Dollars each against the second and third monthly installments of fixed annual rent payable hereunder (i.e. April 2003 and May 2003) and (ii) in four (4) equal monthly installments of One Thousand Nine Hundred Twenty Two and 66/100 ($1,922.66) dollars each against the fourth, fifth, sixth and seventh monthly installments of fixed annual rent payable hereunder (i.e., June 2003, July 2003, August 2003 and September 2003)./

Fixed Annual Rent. There is herein reserved to Landlord for the entire term of this lease fixed annual rent (without electricity) and subject to adjustment pursuant to paragraph B below equal to the aggregate amount of the sums hereinafter set forth. Fixed annual rent shall be paid in advance as follows: Commencing on April 15, 2004, and on the first day of each month thereafter throughout the term of this lease, Tenant shall pay to Landlord, without notice, deduction, set off or reduction (except as specifically set forth herein), monthly payments of fixed annual rent equal to one-twelfth (1/12th) of each of the following annual amounts amount (except that the first monthly installment month and a half of fixed annual rent (including electricity), in the amount of $4,045.02, is being paid upon the execution hereof): (i) March 1): April 15, 2003 2004 through February 28April 30, 20082005: Forty-Six Three Thousand One Two Hundred Forty-Four and 00/100 ($46,144.0043,200.00) Dollars per annum ($3,845.33 3,600.00 per month); and (ii) March May 1, 2008 2005 through February 28April 30, 20132006: FiftyForty-One Four Thousand EightySix Hundred Ninety-Eight Six and no/100 00/100 ($51, 088.0044,696.00) Dollars per annum ($4,257.3er 3,708.00 per month); May 1, 2006 through April 30, 2007: Forty-Five Thousand Eight Hundred Thirty and 88/100 ($45,830.88) Dollars per annum ($3,819.24 per month); May 1, 2007 through April 30, 2008: Forty-Seven Thousand Two Hundred Five and 81/100 ($47,205.81) Dollars per annum ($3,933.82) per month); and May 1, 2008 through June 30, 2009: Forty-Eight Thousand Six Hundred Twenty-One and 98/100 ($48,621.98) Dollars per annum ($4,051.83 per month). If and so long as Tenant is not in default of any obligation on its part to be performed hereunder, Tenant shall receive a rent credit of Fifteen Ten Thousand Three Eight Hundred Eighty-One and 33/100 00/100 ($15,381.3310,800.00) Dollars, to be applied in three (i) in two (23) equal monthly installments of Three Thousand Eight Six Hundred Forty Five and 33/100 00/100 ($3,845.333,600.00) Dollars each against the second third, fifteenth and third twenty-eighth monthly installments of fixed annual rent (without electricity) payable hereunder (i.e. April 2003 June, 2004; May, 2005; and May 2003) and (ii) in four (4) equal monthly installments of One Thousand Nine Hundred Twenty Two and 66/100 ($1,922.66) dollars each against the fourthMay, fifth, sixth and seventh monthly installments of fixed annual rent payable hereunder (i.e., June 2003, July 2003, August 2003 and September 2003)./2006).

Fixed Annual Rent. There is herein reserved to Landlord for the entire term of this lease fixed annual rent (without electricity) and subject to adjustment pursuant to paragraph B below equal to the aggregate amount of the sums hereinafter set forth. Fixed annual rent shall be paid in advance as follows: Commencing commencing on the date which is ten (10) months after the Commencement Date (the “Rent Commencement Date”), and on the first day of each month thereafter throughout the term of this lease, Tenant shall pay to Landlord, without notice, deduction, set off or reduction (except as specifically set forth herein), monthly payments of fixed annual rent equal to one-twelfth (1/12th) of each of the following annual amounts (except that the first monthly installment of fixed annual rent is being paid upon the execution hereof):amounts: (i) March 1, 2003 From the Rent Commencement Date through February 28, 2008the last day of the fifth Lease Year: FortyFour Million Five Hundred Sixty-Six Eight Thousand One Five Hundred Forty-Four Twelve and 00/100 ($46,144.004,568,512.00) Dollars per annum ($3,845.33 380,709.33 per month); (ii) From the first day of the sixth Lease Year through the last day of the tenth Lease Year: Four Million Nine Hundred Nineteen Thousand Nine Hundred Thirty-Six and 00/100 ($4,919,936.00) Dollars per annum ($409,994.67 per month); and (iiiii) March 1, 2008 From the first day of the eleventh Lease Year through February 28, 2013the last day of the fifteenth Lease Year: FiftyFive Million Two Hundred Seventy-One Thousand Eighty-Eight Three Hundred Sixty and no/100 00/100 ($51, 088.005,271.360.00) Dollars per annum ($4,257.3er 439,280.00 per month). If and so long as Tenant is not in default ) Should the Rent Commencement Date occur on any day other than the first day of any obligation on its part to be performed hereundera month, Tenant shall receive a rent credit of Fifteen Thousand Three Hundred Eighty-One and 33/100 ($15,381.33) Dollars, to be applied (i) in two (2) equal monthly installments of Three Thousand Eight Hundred Forty Five and 33/100 ($3,845.33) Dollars each against then the second and third monthly installments of fixed annual rent payable hereunder (i.e. April 2003 for the unexpired portion of such month shall be adjusted and May 2003) and (ii) prorated on a per diem basis based on the actual number of days in four (4) equal monthly installments of One Thousand Nine Hundred Twenty Two and 66/100 ($1,922.66) dollars each against the fourth, fifth, sixth and seventh monthly installments of fixed annual rent payable hereunder (i.e., June 2003, July 2003, August 2003 and September 2003)./said month.