Common use of Rent and Other Amounts Payable Clause in Contracts

Rent and Other Amounts Payable. (A) The Lessee shall pay rent for the Project Facility as follows: (A) On the Closing Date, the Lessee shall pay to the Lessor the agreed upon administrative fee of the Lessor in an amount not to exceed $161,125.00. (B) Within seven (7) days after receipt of a demand therefor from the Lessor, the Lessee shall pay to the Lessor the sum of the reasonable expenses of the Lessor and the officers, members, agents and employees thereof incurred by reason of the Lessor's ownership or lease of the Project Facility or in connection with the carrying out of the Lessor's duties and obligations under this Lease Agreement or any of the other Leasing Documents and any other fee or expense of the Lessor, including reasonable attorneys' fees, with respect to the Project Facility, the sale of the Project Facility to the Lessee, any of the other Leasing Documents, the payment of which is not otherwise provided for under this Lease Agreement. (C) The Lessee agrees to make the above mentioned payments, without any further notice, in lawful money of the United States of America as, at the time of payment, shall be legal tender for the payment of public and private debts. In the event the Lessee shall fail to make any payment required by this Section 5.4 for a period of more than thirty (30) days from the date such payment is due, the Lessee shall pay the same together with interest thereon at the Default Rate or the maximum permitted by law, whichever is less, from the date on which such payment was due until the date on which such payment is made.

Appears in 1 contract

Sources: Lease Agreement (Ace Hardware Corp)

Rent and Other Amounts Payable. (A) The Lessee Company shall pay rent for the Project Facility as follows: (A) On the Closing Date, the Lessee shall pay The Company has remitted to the Lessor the agreed upon its administrative fee in the amount of the Lessor in an amount not to exceed $161,125.00127,491.74. (B) Within seven (7) days after receipt of a demand therefor from the LessorLessor accompanied by any supporting evidence or documentation therefor reasonably requested by the Company, the Lessee Company shall pay to the Lessor the sum of the reasonable and actual expenses of the Lessor and the officers, members, agents and employees thereof incurred by reason of the Lessor's ownership or ’s lease of the Project Facility or in connection with the carrying out of the Lessor's ’s duties and obligations under this Agency Lease Agreement or any of the other Leasing Documents and any other reasonable and actual fee or expense of the Lessor, including reasonable and actual attorneys' fees, with respect to the Project Facility, the sale of the Project Facility to the LesseeCompany, any of the other Leasing Documents, the payment of which is not otherwise provided for under this Lease AgreementAgency Lease. (C) The Lessee Company agrees to make the above above-mentioned payments, without any further notice, in lawful money of the United States of America as, at the time of payment, shall be legal tender for the payment of public and private debts. In the event the Lessee Company shall fail to make any payment required by this Section 5.4 for a period of more than thirty (30) days from the date such payment is due, the Lessee Company shall pay the same together with interest thereon at the Default Rate a rate equal to two percent (2%) per month or the maximum permitted by law, whichever is less, from the date on which such payment was due until the date on which such payment is made.

Appears in 1 contract

Sources: Project Agreement