Rents and Other Amounts Payable Clause Samples
The "Rents and Other Amounts Payable" clause defines the tenant's obligation to pay rent and any additional charges specified in the lease agreement. This typically includes not only the base rent but also other amounts such as utilities, maintenance fees, taxes, or insurance premiums that may be required under the lease. By clearly outlining all financial responsibilities, this clause ensures both parties understand the full scope of payments due, reducing the risk of disputes over what is owed during the lease term.
Rents and Other Amounts Payable. On December 1, 1993, and June 1 and December 1 in each year thereafter until payment in full of the Bonds, the Company shall pay to the Trustee, for the account of the Board, as rent for the Project, a sum of money equal to the amount payable on such date as principal of and interest on the Bonds, as provided in the Indenture. In any event, on each date on which a payment of principal or interest is payable on the Bonds, if at any such date the amount of money available in the Bond Fund is insufficient to make required payments of principal and interest on such date, the Company shall forthwith pay to the Trustee, in immediately available funds, the amount of any such deficiency. Anything herein to the contrary notwithstanding, any amount of money at any time held by the Trustee in the Bond Fund shall be credited against the next succeeding payment of rent and shall reduce the payment to be then made by the Company; and further, if, and for so long as, the amount held by the Trustee in the Bond Fund should be sufficient to pay at the times required the principal of and the interest on all Bonds then remaining unpaid, the Company shall not be obligated to make any further rental payments under the provisions of this Section. The Company agrees to pay to the Trustee until the principal of and the interest on the Bonds shall have been paid in full (i) an amount equal to the annual fee of the Trustee for the Ordinary Services of the Trustee rendered and its Ordinary Expenses incurred under the Indenture, (ii) the reasonable fees and charges of the Trustee and any other paying agent for acting as paying agent and as bond registrar and the reasonable fees of Trustee's counsel as provided in the Indenture, as and when the same become due, and (iii) the reasonable fees and charges of the Trustee for Extraordinary Services rendered by it and Extraordinary Expenses incurred by it, as such terms are defined in the Indenture, as and when the same become due; provided, that the Company may, without precipitating an Event of Default hereunder, withhold such payment to contest in good faith the necessity for any such Extraordinary Services and Extraordinary Expenses and the reasonableness of any such fees, charges or expenses. If the Company should fail to make any of the payments required in this Section, the item or installment which the Company has failed to make shall continue as an obligation of the Company until the same shall have been fully paid, and the Company ...
Rents and Other Amounts Payable. (a) The Company shall pay basic rent for the Company Facility as follows: One Dollar ($1.00) per year commencing on the Closing Date and on each and every January 1 thereafter during the term of this Lease Agreement. In addition, the Company shall pay to the Agency an annual compliance fee of $500.00 on or before January 1 of each year commencing January 1, 2021 and continuing through the Lease Term.
(b) In addition to the payments of basic rent pursuant to Section 4.3(a) hereof, throughout the Lease Term, the Company shall pay to the Agency as additional rent, within ten
Rents and Other Amounts Payable. (a) The Company shall pay (together with each Project (as defined under each of the Additional ▇▇▇ Documents) in the aggregate) to the Agency on the Closing Date the balance of the Agency’s fee in the amount of $459,273 (equal to the administrative fee of $458,107 plus the public hearing notice and transcript cost of $1,166. The Company shall pay basic rent for the Facility as follows: One dollar ($1.00) on the Closing Date.
(b) In addition to the payments of basic rent pursuant to Section 4.3(a) hereof, the Company shall pay to the Agency PILOT Payments in the amount as described in Section 5.1 hereof.
(c) In addition to the payments of basic rent and PILOT Payments pursuant to Sections 4.3(a) and (b) hereof, throughout the Lease Term, the Company shall pay to the Agency as additional rent, within twenty (20) days of receipt of demand therefor, an amount equal to the sum of the expenses of the Agency and the members thereof incurred (i) by reason of the Agency’s ownership, leasing, subleasing, or financing of the Facility, or (ii) in connection with the carrying out of the Agency’s duties and obligations under the Agency Documents, the payment of which is not otherwise provided for under this Lease Agreement.
(d) The Company, under the provisions of this Section 4.3, agrees to make the above- mentioned payments in immediately available funds and without any further notice in lawful money of the United States of America. In the event the Company shall fail to timely make any payment required in Section 4.3(a) or 4.3(c), the Company shall pay the same together with interest on such payment at a rate equal to two percent (2%) plus the Prime Rate, but in no event at a rate higher than the maximum lawful prevailing rate, from the date on which such payment was due until the date on which such payment is made.
Rents and Other Amounts Payable. (a) The Company shall pay to the Agency on the Closing Date the balance of the Agency’s administrative fee in the amount of $[ ] (equal to the administrative fee of $[ ] plus the public hearing notice and transcript costs of $[ ]. The Company shall pay basic rent for the Facility as follows: One Dollar ($1.00) per year commencing on the Closing Date and on each and every January 1 thereafter during the term of this Lease Agreement. In addition, the Company shall pay to the Agency an annual compliance fee of $1,000 on or before January 1 of each year commencing January 1, 20[ ] and continuing through the Lease Term.
(b) In addition to the payments of basic rent pursuant to Section 4.3(a) hereof, throughout the Lease Term, the Company shall pay to the Agency as additional rent, within ten
Rents and Other Amounts Payable. (a) The Company shall pay basic rent in advance to the Agency for the Facility as follows: One Dollar ($1.00) per year commencing on the Closing Date and on the first Business Day of each and every February thereafter during the term of this Facility Lease Agreement.
(b) In addition to the payments of rent pursuant to Section 5.3(a) hereof, throughout the Lease Term, the Company shall pay to the Agency as additional rent, within thirty (30) days of receipt of demand therefor, the expenses of the Agency and the members thereof incurred (i) by reason of the Agency's ownership or leasing of the Facility or (ii) in connection with the carrying out of the Agency's duties and obligations under the Agency Documents, the payment of which is not otherwise provided for under this Facility Lease Agreement. The Agency does not charge any annual or continuing administrative or management fee beyond any initial administrative fee or fee for services rendered by the Agency.
(c) The Company, under the provisions of this Section 5.3, agrees to make the above-mentioned payments in immediately available funds and without any further notice in lawful money of the United States of America. In the event the Company shall fail to timely make any payment required in Section 5.3(a) or 5.3(b), the Company shall pay the same together with interest on such payment at a rate equal to two percent (2%) plus the Prime Rate, but in no event at a rate higher than the maximum lawful prevailing rate, from the date on which such payment was due until the date on which such payment is made.
Rents and Other Amounts Payable. (a) The Company shall pay to the Agency on the Closing Date the balance of the Agency’s administrative fee in the amount of $28,774 (equal to the administrative fee of $29,438 less the application fee of $2,000, plus the public hearing notice and transcript costs of $586, plus the $750 initial compliance fee). The Company shall pay basic rent for the Facility as follows: One Dollar ($1.00) per year commencing on the Closing Date and on each and every January 1 thereafter during the term of this Lease Agreement. In addition, the Company shall pay to the Agency an annual compliance fee of $500 on or before January 1 of each year commencing January 1, 2020 and continuing through the Lease Term.
(b) In addition to the payments of basic rent pursuant to Section 4.3(a) hereof, throughout the Lease Term, the Company shall pay to the Agency as additional rent, within ten (10) days of receipt of demand therefor, an amount equal to the sum of the expenses of the Agency and the members thereof incurred (i) by reason of the Agency’s ownership, leasing, subleasing, or financing of the Facility, or (ii) in connection with the carrying out of the Agency’s duties and obligations under the Agency Documents, the payment of which is not otherwise provided for under this Lease Agreement. The foregoing shall be in addition to any annual or continuing administrative or management fee imposed by the Agency now or hereafter.
(c) The Company, under the provisions of this Section 4.3, agrees to make the above-mentioned payments in immediately available funds and without any further notice in lawful money of the United States of America. In the event the Company shall fail to timely make any payment required in Section 4.3(a) or 4.3(b), the Company shall pay the same together with interest on such payment at a rate equal to two percent (2%) plus the Prime Rate, but in no event at a rate higher than the maximum lawful prevailing rate, from the date on which such payment was due until the date on which such payment is made.
Rents and Other Amounts Payable. Not later than the fifteenth (15th) day of the months of October 1993 and November 1993, the Company shall pay as rent an amount equal to one-half (1/2) of the amount of interest on the Bonds which will be payable on December 1, 1993. Not later than the fifteenth (15) day of the months of December 1993, January 1994 and February 1994, the Company shall pay as rent an amount equal to one-third (1/3) of the amount of interest on the Bonds which will be payable on March 1, 1994. Not later than the fifteenth (15th) day of the months of March 1994, April 1994 and May 1994, the Company shall pay as rent an amount equal to one-third (1/3) of the amount of interest on the Bonds which will be payable on June 1, 1993. Not later than the fifteenth (15th) day of each month commencing June 15, 1994 and continuing thereafter until the principal of and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Trust Agreement, the Company shall pay as rent an amount equal to the sum of (i) one-third (1/3) of the amount of interest on the Bonds which will be payable on the next succeeding date on which such interest is due to be paid, and (ii) one-third (1/3) of the amount of principal of the Bonds which will be payable (whether at stated maturity or by redemption) on the next succeeding date on which such principal is due to be paid. The Company shall receive a credit against the rent payment due in the month of February of each year to the extent and in the manner provided in the General Bond Order and the Series Bond Order. If the Company fails to make any payment required by this paragraph on the due date thereof, the Trustee shall, to the extent that funds are available therefor, transfer to the Debt Service Account an amount equal to such payment from the Collateral Proceeds Account and, if the balance in the Collateral Proceeds Account is insufficient, from the Primary Reserve Account. If moneys are transferred from the Primary Reserve Account or the Collateral Proceeds Account to the Debt Service Account pursuant to the provisions of Section 14 of the General Bond Order, and if no Event of Default is then existing, the Company shall receive a credit against rental payments payable hereunder, in inverse order of their maturity, in an amount equal to the amount so transferred. If no Event of Default is then existing and if the balance in the Primary Reserve Account is greater than or equal to the...
Rents and Other Amounts Payable. (a) The Lessee shall pay to the Trustee, on behalf of the Lessor, the following sums as lease payments hereunder at the following times, in immediately available funds:
(i) on each Interest Payment Date during the term of this Agreement, an amount which is sufficient to pay the interest then due on the Bond.
(ii) on the maturity date of the Bond, the principal amount thereof then maturing;
(iii) on the redemption dates established for the Bond to be redeemed pursuant to Section 4.01 (c) of the Indenture (if any), an amount equal to the redemption price due on such date.
(b) In any event, the sum of the lease payments payable under this Section 5.3 shall be insufficient to pay the total amount due with respect to such principal and redemption price of and interest (including but not limited to interest and late charges payable pursuant to the Bond on any overdue amount) on the Bond, as and when due, and the Lessee shall forthwith pay any deficiency to the Trustee. If at any time the Bond has been fully paid and discharged within the meaning of the terms hereof, the Lessee shall not be obligated to make any further payments under this Section.
Rents and Other Amounts Payable. Not later than the fifteenth (15th) day of each month commencing September 15, 1992 and continuing thereafter until the principal of and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Trust Agreement, the Company shall pay to the Trustee as rent an amount equal to the sum of (i) one third (1/3) of the amount of interest on the Bonds which will be payable on the next succeeding date on which such interest is due to be paid, and (ii) one third (1/3) of the amount of principal of the Bonds which will be payable (whether at stated maturity or by mandatory sinking fund redemption) on the next succeeding date on which such principal is due to be paid. The Company shall receive a credit against the rent payment due in the month of February of each year to the extent and in the manner provided in the General Bond Order and the Series Bond Order. If the Company fails to make any payment required by this paragraph on the due date thereof, the Trustee shall, to the extent that funds are available therefor, transfer to the Debt Service Account an amount equal to such payment from the Collateral Proceeds Account and, if the balance in the Collateral Proceeds Account is insufficient, from the Primary Reserve Account.
Rents and Other Amounts Payable. (a) The Company shall pay basic rent for the Facility as follows: One Dollar ($1.00) per year commencing on the Closing Date and on each January 1 thereafter during the term of this Lease Agreement. In addition, the Company shall pay to the Agency an annual compliance fee of Five Hundred and 00/100 Dollars ($500.00) on or before January 1st of each year commencing January 1, 2018 and continuing through the Lease Term. The Company shall pay basic rent to the Agency at the address set forth above or as otherwise specified by the Agency.
(b) In addition to the payments of basic rent pursuant to Section 5.3(a) hereof, throughout the Lease Term, the Company shall pay to the Agency as additional rent, within ten (10) days of receipt of demand therefor, an amount equal to the sum of the expenses of the Agency and the members thereof incurred (i) by reason of the Agency’s ownership, leasing, subleasing, or financing of the Facility, or (ii) in connection with the carrying out of the Agency’s duties and obligations under the Agency Documents, the payment of which is not otherwise provided for under this Lease Agreement. The foregoing shall not be deemed to include any annual or continuing administrative or management fee beyond any initial administrative fee or fee for services rendered by the Agency.
(c) The Company, under the provisions of this Section 5.3, agrees to make the above-mentioned payments in immediately available funds and without any further notice in lawful money of the United States of America. In the event the Company shall fail to timely make any payment required in Section 5.3(a) or 5.3(b), the Company shall pay the same together with interest on such payment at a rate equal to Two Percent (2%) plus the Prime Rate, but in no event at a rate higher than the maximum lawful prevailing rate, from the date on which such payment was due until the date on which such payment is made.