FIXED RENT AND ADDITIONAL RENT. 3.1. Subtenant shall pay to Sublandlord, commencing on the Commencement Date and throughout the Term, in currency which at the time of payment is legal tender for public and private debts in the United States of America, the fixed rent ("Fixed Rent"), three (3) business days prior to the first (1st) day of each month during the Term (except that Subtenant shall pay the first full monthly installment of Fixed Rent on the execution hereof): (a) for the period commencing on the Commencement Date and ending on September 30, 2002, the sum of One Hundred Sixteen Thousand Nine Hundred Seventy and 00/100 Dollars ($116,970.00) per annum, payable in equal monthly installments of $9,747.50; (b) for the period commencing on October 1, 2002, and ending on September 30, 2005, the sum of One Hundred Twenty-Three Thousand Nine Hundred Twenty-Two and 00/100 Dollars ($123,922.00) per annum, payable in equal monthly installments of $10,326.83; (c) for the period commencing on October 1, 2005, and ending on September 30, 2008, the sum of One Hundred Thirty Thousand Eight Hundred Seventy-Four and 00/100 Dollars ($130,874.00) per annum, payable in equal monthly installments of $10,906.17; and (d) for the period commencing on October 1, 2008, and ending on September 29, 2009, the sum of One Hundred Thirty-Seven Thousand Eight Hundred Twenty-Six and 00/100 Dollars ($137,826.00) per annum, payable in equal monthly installments of $11,485.50. 3.2. For each Tax Year during the Term, Subtenant shall pay to Sublandlord as and for additional rent an amount equal to thirty-two and four-tenths percent (32.4%) ("Subtenant's Percentage") of the amount by which Sublandlord's Tax Payment, as defined in Article 40 of the Lease (the "Tax Payment") exceeds the Tax Payment for Tax Year 1999/2000. Subtenant's Percentage for each Tax Year shall be due and payable in installments in the same manner that the Tax Payment for such Tax Year is due and payable by Sublandlord to Prime Landlord. Subtenant shall pay the Subtenant's Percentage within ten (10) days after the forwarding by Sublandlord to Subtenant of a statement furnished to Sublandlord by Prime Landlord; provided, however, in no event shall Subtenant be required to remit such amount to Sublandlord more than ten (10) days in advance of when such amount is due and payable by Sublandlord to Prime Landlord. Subtenant shall be entitled to Subtenant's Percentage of any refunds of such Tax Payment that are paid or credited to Sublandlord by Prime Landlord under the Lease. Sublandlord shall pay or credit Subtenant in respect of any such refunds promptly after Sublandlord is paid or credited such refunds under the Lease. 3.3. For each Operating Year during the term subsequent to the calendar year ending December 31, 2000 (the "Base Year"), Subtenant shall pay to Sublandlord thirty-two and four-tenths percent (32.4%) ("Subtenant's Share") of the Operating Expenses (as such term is defined in the Article 41 of the Lease) that are payable by Sublandlord to Prime Landlord under the Lease on the dates and in the manner provided in the Lease. Subtenant shall pay the Subtenant's Share to Sublandlord within ten (10) days after the forwarding by Sublandlord to Subtenant of the Escalation Statement (as such term is defined in Article 41 of the Lease) or similar statement received by Sublandlord; provided, however, in no event shall Subtenant be required to remit such amount to Sublandlord more than ten (10) days in advance of when such amount is due and payable by Sublandlord to Prime Landlord. Subtenant shall be entitled to Subtenant's Share of any refunds of such Operating Expenses that are paid or credited to Sublandlord by Prime Landlord under the Lease. Sublandlord shall pay or credit Subtenant in respect of any such refunds promptly after Sublandlord is paid or credited such refunds under the Lease. 3.4. Subtenant shall pay to Sublandlord, on account of electricity consumed in the Demised Premises, thirty-two and four-tenths percent (32.4%) of the cost of electricity consumed in the Entire Premises, as measured by a submeter or submeters as provided in Article 43 of the Lease. Subtenant shall make such payment on account of electricity to Sublandlord within ten (10) days after rendition of a ▇▇▇▇ therefor; provided, however, in no event shall Subtenant be required to remit such amount to Sublandlord more than ten (10) days in advance of when such amount is due and payable by Sublandlord to Prime Landlord.
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FIXED RENT AND ADDITIONAL RENT. 3.1. Subtenant shall pay to Sublandlord, commencing on April 9, 1999 (the "Rent Commencement Date and throughout the TermDate"), in currency which at the time of payment is legal tender for public and private debts in the United States of America, the as fixed rent ("Fixed Rent")) during the Term, three (3) business days prior to the first (1st) day of each month during the Term (except it being agreed that Subtenant shall pay since the Rent Commencement Date occurs on a date other than the first full monthly installment (1st) day of a calendar month, the Fixed Rent with respect to the month of April, 1999 shall be pro-rated on the execution hereof):a per diem basis)
(ai) for the period commencing on the Rent Commencement Date and ending on September 30, 1999, the sum of Ninety-Three Thousand Five Hundred Eighty-Eight Dollars ($93,588.00) per annum, payable in equal monthly installments of Seven Thousand Seven Hundred Ninety-Nine Dollars ($7,799.00),
(ii) for the period commencing on October 1, 1999 and ending on September 30, 2000, the sum of Ninety-Six Thousand Four Hundred Twenty-Four Dollars ($96,424.00) per annum, payable in equal monthly installments of Eight Thousand Thirty-Five and 33/100 Dollars ($8,035.33),
(iii) for the period commencing on October 1, 2000 and ending on September 30, 2001, the sum of Ninety-Nine Thousand Three Hundred Sixteen and 72/100 Dollars ($99,316.72) per annum, payable in equal monthly installments of Eight Thousand Two Hundred Seventy-Six and 39/100 Dollars ($8,276.39),
(iv) for the period commencing on October 1, 2001 and ending on September 30, 2002, the sum of One Hundred Sixteen Two Thousand Nine Three Hundred Seventy Twenty-Two and 00/100 88/100 Dollars ($116,970.00102,322.88) per annum, payable in equal monthly installments of Eight Thousand Five Hundred Twenty-Six and 91/100 Dollars ($9,747.50;8,526.91),
(bv) for the period commencing on October 1, 20022002 and ending on September 30, 2003, the sum of One Hundred Five Thousand Four Hundred Forty-Two and 48/100 Dollars ($105,442.48) per annum, payable in equal monthly installments of Eight Thousand Seven Hundred Eighty-Six and 87/100 Dollars ($8,786.87),
(vi) for the period commencing on October 1, 2003 and ending on September 30, 2004, the sum of One Hundred Eight Thousand Six Hundred Eighteen and 80/100 ($108,618.80) per annum, payable in equal monthly installments of Nine Thousand Fifty-One and 57/100 Dollars ($9,051.57),
(vii) for the period commencing on October 1, 2004 and ending on September 30, 2005, the sum of One Hundred Twenty-Three Eleven Thousand Nine Hundred Twenty-Two Eight and 00/100 56/100 Dollars ($123,922.00111,908.56) per annum, payable in equal monthly installments of Nine Thousand Three Hundred Twenty-Five and 71/100 Dollars ($10,326.83;9,325.71),
(cviii) for the period commencing on October 1, 20052005 and ending on September 30, 2006, the sum of One Hundred Fifteen Thousand Three Hundred Eleven and 76/100 Dollars ($115,311.76) per annum, payable in equal monthly installments of Nine Thousand Six Hundred Nine and 31/100 Dollars ($9,609.31),
(ix) for the period commencing on October 1, 2006 and ending on September 30, 2007, the sum of One Hundred Eighteen Thousand Seven Hundred Seventy-One and 68/100 Dollars ($118,771.68) per annum, payable in equal monthly installments of Nine Thousand Eight Hundred Ninety-Seven and 64/100 Dollars ($9,897.64),
(x) for the period commencing on October 1, 2007 and ending on September 30, 2008, the sum of One Hundred Thirty Twenty- Two Thousand Eight Three Hundred SeventyForty-Four Five and 00/100 04/100 Dollars ($130,874.00122,345.04) per annum, payable in equal monthly installments of Ten Thousand One Hundred Ninety-Five and 42/100 Dollars ($10,906.17; and10,195.42),
(dxi) for the period commencing on October 1, 2008, 2008 and ending on September 2930, 2009, the sum of One Hundred Twenty- Six Thousand Thirty-Seven Thousand Eight Hundred Twenty-Six One and 00/100 84/100 Dollars ($137,826.00126,031.84) per annum, payable in equal monthly installments of Ten Thousand Five Hundred Two and 65/100 Dollars ($11,485.5010,502.65), and
(xii) for the period commencing on October 1, 2009 and ending the Expiration Date, the sum of One Hundred Twenty- Nine Thousand Eight Hundred Thirty-Two and 08/100 Dollars ($129,832.08) per annum, payable in equal monthly installments of Ten Thousand Eight Hundred Nineteen and 34/100 Dollars ($10,819.34).
3.2. (i) For each Tax Year during the Term, Subtenant shall pay to Sublandlord as and for additional rent an amount (the "Sublease Tax Payment") equal to thirtynineteen and one-two and four-tenths half percent (32.419.5%) ("Subtenant's Percentage") of the amount by which Sublandlord's the additional basic rental with respect to Taxes payable by Sublandlord for such Tax PaymentYear, as defined computed by the Prime Landlord pursuant to an Escalation Statement delivered to Sublandlord in Article 40 of accordance with the Lease Lease, exceeds the additional basic rental with respect to Taxes payable by Sublandlord for the Tax Year commencing July 1, 1998 and ending June 30, 1999 (the "Sublease Base Tax Payment") exceeds the Tax Payment for Tax Year 1999/2000. Subtenant's Percentage for each Tax Year shall be due and payable in installments in the same manner that the Tax Payment for such Tax Year is due and payable by Sublandlord to Prime Landlord. Subtenant shall pay the Subtenant's Percentage within ten (10) days after the forwarding by Sublandlord to Subtenant of a statement furnished to Sublandlord by Prime Landlord; provided, however, in no event shall Subtenant be required to remit such amount to Sublandlord more than ten (10) days in advance of when such amount is due and payable by Sublandlord to Prime Landlord. Subtenant shall be entitled to Subtenant's Percentage of any refunds of such Tax Payment that are paid or credited to Sublandlord by Prime Landlord under the Lease. Sublandlord shall pay or credit Subtenant in respect of any such refunds promptly after Sublandlord is paid or credited such refunds under the Lease.
3.3. For each Operating Year during the term subsequent to the calendar year ending December 31, 2000 (the "Base Year"), Subtenant shall pay to Sublandlord thirty-two and four-tenths percent .
(32.4%ii) ("Subtenant's Share") of the Operating Expenses (as such term is defined in the Article 41 of the Lease) that are payable by Sublandlord to Prime Landlord under the Lease on the dates and in the manner provided in the Lease. Subtenant shall pay the Subtenant's Share to Sublandlord within ten (10) days At any time during or after the forwarding by Term, Sublandlord shall render to Subtenant a written statement or statements (a "Sublease Tax Statement"), together with a reproduced copy of the Escalation Statement received from the Prime Landlord for the current or next succeeding Tax Year (as such term is defined in Article 41 if theretofore issued by the Prime Landlord), showing (i) a comparison of the Lease) or similar statement received by Sublandlord; provided, however, in no event shall Subtenant be required additional basic rental with respect to remit such amount to Sublandlord more than ten (10) days in advance of when such amount is due and Taxes payable by Sublandlord for the Tax Year with the additional basic rental with respect to Prime Landlord. Subtenant shall be entitled to Subtenant's Share Taxes for the Sublease Base Tax Year and (ii) the amount of any refunds of the Sublease Tax Payment resulting from such Operating Expenses that are paid or credited to Sublandlord by Prime Landlord under the Lease. Sublandlord shall pay or credit Subtenant in respect of any such refunds promptly after Sublandlord is paid or credited such refunds under the Lease.
3.4comparison. Subtenant shall pay to Sublandlord, on account of electricity consumed in twelve (12) equal monthly installments, in advance, five (5) business days prior to the Demised Premisesdate upon which the corresponding payment is due and payable to the Prime Landlord by Sublandlord, thirtyone-two and four-tenths percent twelfth (32.4%1/12th) of the cost of electricity consumed in Sublease Tax Payment shown on the Entire PremisesSublease Tax Statement, as measured by except that if at the time Sublandlord delivers a submeter or submeters as provided in Article 43 Sublease Tax Statement to Subtenant, the Sublease Tax Payment shall have accrued for a period prior to the delivery of the Lease. Sublease Tax Statement, Subtenant shall make pay such payment on account accrued portion of electricity to Sublandlord the Sublease Tax Payment in full within ten fifteen (1015) days after receipt of such Sublease Tax Statement. If Sublandlord shall be required to pay any additional basic rental with respect to Taxes on any other date or dates than as presently required by the Lease, then the due date of the installments of the Tax Payment shall be correspondingly accelerated or revised so that the Sublease Tax Payment (or the applicable installment thereof) is due five (5) days prior to the date the corresponding payment is due to the Prime Landlord. Sublandlord's failure to render a Sublease Tax Statement during or with respect to any Tax Year shall not prejudice Sublandlord's right to render a Sublease Tax Statement during or with respect to any subsequent Tax Year, and shall not eliminate or reduce Subtenant's obligation to make Sublease Tax Payments pursuant to this Section 3.2 for such Tax Year.
(iii) The Sublease Tax Payment shall be prorated for any partial Tax Year in which the Term shall commence or end. If a Sublease Tax Statement is furnished to Subtenant after the commencement of the Tax Year in respect of which such Sublease Tax Statement is rendered, Subtenant shall, within fifteen (15) days thereafter, pay to Sublandlord an amount equal to the amount of any underpayment of the Sublease Tax Payment with respect to such Tax Year and, in the event of an overpayment, Sublandlord shall either pay to Subtenant or, at Sublandlord's election, credit against the next installments of Fixed Rent and payments of additional rent, the amount of Subtenant's overpayment.
(iv) Only the Prime Landlord shall be eligible to institute tax reduction or other proceedings to reduce the assessed valuation of the Building. Should the Prime Landlord be successful in any such reduction proceedings and obtain a rebate for any Tax Year for which Subtenant has paid installments of the Tax Payment, Sublandlord shall either pay to Subtenant, or at Sublandlord's election, credit against the next installments of the Fixed Rent and payments of additional rent payable under this Sublease, an amount equal to Subtenant's Percentage of any such rebate for which Sublandlord shall receive a credit from the Prime Landlord. In the event that the assessed valuation which had been utilized in computing the Taxes payable for the Sublease Base Tax Year is reduced (as a result of settlement, final determination or legal proceedings or otherwise) then (x) the Taxes for the Sublease Base Tax Year shall be retroactively adjusted to reflect such reduction, (y) the installments of Sublease Tax Payments shall be increased accordingly, and (z) all retroactive additional rent resulting from such adjustment shall be payable by Subtenant within seven (7) days after the rendition of a ▇▇▇▇ therefor; provided.
3.3. If Subtenant shall fail to pay when due any installment of Fixed Rent or additional rent, howeverSubtenant shall pay to Sublandlord, in no event addition to such installment of Fixed Rent or additional rent, as the case may be, as a late charge and as additional rent, a sum equal to interest at the Applicable Rate (hereinafter defined) per annum on the amount unpaid, commencing from the date such payment was due to and including the date of payment. The "Applicable Rate" shall Subtenant be required the rate equal to remit the lesser of (a) two (2) percentage points above the then current rate publicly announced by The Chase Manhattan Bank, N.A. or its successor as its "base rate" (or such amount other term as may be used by The Chase Manhattan Bank, N.A. from time to Sublandlord more than ten time for the rate presently referred to as its "base rate") or (10b) days in advance of when such amount is due and payable the maximum rate permitted by Sublandlord to Prime Landlord.applicable law,
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Sources: Sublease Agreement (Computer Outsourcing Services Inc)