Common use of When Due and Payable Clause in Contracts

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “Additional Rent.” All Base Rent and Additional Rent are sometimes hereinafter together referred to as “Rent.” (B) The Base Rent for each year (or part thereof) during the Term shall be due and payable in 12 consecutive, equal monthly installments, in advance, on the first day of each calendar month during the Term, provided that the installment of Rent for the first full calendar month of the Term shall be due upon execution of this Lease. (C) Tenant shall pay all Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any year, (b) require the Tenant to pay to the Landlord such Additional Rent in equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s reasonable discretion, increase or decrease from time to time during such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding in any order at Landlord’s sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s obligation to timely pay when due all remaining amounts of Rent hereunder, which shall remain due in their entirety according to the terms of this Lease.

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “"Additional Rent.” " All Base Rent and Additional Rent are sometimes hereinafter together referred to as “"Rent.”" (B) The Base Rent for each year (or part thereof) during the Term shall be due and payable in 12 consecutive, equal monthly installments, in advance, on the first day of each calendar month during the Term, provided that the installment of Rent for the first full calendar month of the Term shall be due upon execution of this Lease. (C) Tenant shall pay all Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any yearyear in the Term, (b) require the Tenant to pay to the Landlord such Additional Rent in equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s 's reasonable discretion, increase or decrease from time to time during such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculatedcalculated within 120 days after the end of each such year, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding in any order at in Landlord’s 's sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s 's obligation to timely pay when due all remaining amounts of Rent hereunder, which shall remain due in their entirety according to the terms of this Lease.

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “"Additional Rent.” " All Base Rent and Additional Rent are sometimes hereinafter together referred to as “"Rent.”" (B) The Base Rent for each year (or part thereof) during the Term shall be due and payable in 12 consecutive, equal monthly installments, in advance, on the first day of each calendar month during the Term, provided that the installment of Rent for the first full calendar month of the Term shall be due upon execution of this Lease. All payments shall be sent to the notice address shown in this Lease, or to such other address as Landlord may designate in writing. (C) Tenant shall pay all Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any year, (b) require the Tenant to pay to the Landlord such Additional Rent in equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s 's reasonable discretion, increase or decrease from time to time during such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding outstanding, in any order at order, in Landlord’s 's sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s 's obligation to timely pay when due all remaining amounts of Rent hereunder, which amounts shall remain due in their entirety according to the terms of this Lease.

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “"Additional Rent.” " All Base Rent and Additional Rent are sometimes hereinafter together referred to as “"Rent.”" (B) The Base Rent for each year (or part thereof) during the Term Term, plus any applicable sales tax thereon, shall be due and payable in 12 consecutive, equal monthly installments, in advance, on the first day of each calendar month during the Term, provided that the installment of Rent for the first full calendar month of the Term shall be due upon execution of this Lease. (C) Tenant shall pay all Additional Rent Rent, plus any applicable sales tax thereon, within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any year, (b) require the Tenant to pay to the Landlord such Additional Rent in equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s 's reasonable discretion, increase or decrease from time to time during such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding in any order at in Landlord’s 's sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s 's obligation to timely pay when due all remaining amounts of Rent hereunder, which shall remain due in their entirety according to the terms of this Lease.

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “Additional Rent.” All Base Rent and Additional Rent are sometimes hereinafter together referred to as “Rent.” (Ba) The Base Rent for each year starting in year 2 (or part thereof) during the Term shall be due and payable in 12 consecutive, equal monthly installments, in advance, on the first day of each calendar month during the Term, provided that the installment of Rent for the first full calendar month of the Term shall be due upon execution of this Lease. The Rent for the first year of the Lease shall be paid in full upon execution of the Lease. To any installment of Rent accruing hereunder and any other sum payable hereunder, if not paid within thirty (30) days of when due, shall be added a one-time late charge of five percent (5%) of the amount overdue. (C) Tenant shall pay all Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any year, (b) require the Tenant to pay to the Landlord such Additional Rent in equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s reasonable discretion, increase or decrease from time to time during such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding in any order at in Landlord’s sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s obligation to timely pay when due all remaining amounts of Rent hereunder, which shall remain due in their entirety according to the terms of this Lease. (c) All Rent, charges, fees and other amounts due hereunder, as and when the same become due and payable according to the terms hereof, shall be payable to Landlord in lawful money of the United States at the address of Landlord specified in this Lease or such other address designated in writing by Landlord, without notice or demand therefor and without any setoff, deduction, counterclaim, recoupment, abatement, or adjustment whatsoever. No payment by Tenant or receipt by Landlord of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account, and Landlord may accept any check or payment without prejudice to Landlord’s right to recover the balance due or to pursue any other remedy available to Landlord. Landlord shall have the right to apply any payment made by Tenant to the satisfaction of any debt or obligation of Tenant to Landlord according to Landlord’s sole discretion and notwithstanding any instructions of Tenant as to application of any such payment, whether such instructions be endorsed upon Tenant’s check or otherwise given. The acceptance by Landlord of a check or checks drawn by parties other than Tenant shall not affect Tenant’s liability hereunder, nor shall it be deemed an approval of any assignment of this Lease by Tenant. Landlord shall not be required to accept the check of any person other than the Tenant. Tenant shall assume the risk of lateness or failure of delivery of mails, and no lateness or failure of mails excuses Tenant from its obligation to have made the payment in question required under this Lease.

When Due and Payable. (A) All rental obligations set forth rent, charges, expenses and other sums due in the foregoing provisions and elsewhere in any connection with this Lease, except for Base Rent, are deemed to be rental obligations and shall be referred to hereinafter as “"Additional Rent.” " All Base Rent and Additional Rent are sometimes hereinafter together referred to as “"Rent.”" (B) The Base Rent for each year (or part thereof) during the Term shall be due and payable in 12 consecutive, equal monthly installments, in advance, on the first day of each calendar month during the Term, provided that the first two full month's installment of Rent for the first full calendar month of the Term shall be due upon execution of this Lease. All payments shall be sent to the notice address shown in this Lease, or to such other address as Landlord may designate in writing. (C) Tenant shall pay all Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any year, (b) require the Tenant to pay to the Landlord such Additional Rent in equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s 's reasonable discretion, increase or decrease from time to time during such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding outstanding, in any order at order, in Landlord’s 's sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s 's obligation to timely pay when due all remaining amounts of Rent hereunder, which amounts shall remain due in their entirety according to the terms of this Lease.

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “Additional Rent.” All Base Rent and Additional Rent are sometimes hereinafter together referred to as “Rent.” (B) 2.3.1. The Base Rent for each year (or part thereof) during the Term any Lease Year shall be due and payable in 12 twelve (12) consecutive, equal monthly installments, in advance, on the first (1st) day of each calendar month during the Term, such Lease Year; provided that the installment of the Base Rent payable for the first full calendar month of the Term (and, if the Term commences on a day other than the first (1st) day of a calendar month, that portion of the Base Rent which is payable for such month) shall be due and payable upon the full execution and delivery of this Lease. (C) 2.3.2. Any Additional Rent accruing under any provision of this Lease shall, except as is otherwise set forth herein, be due and payable when the installment of the Base Rent next falling due after such Additional Rent accrues becomes due and payable, unless Landlord makes written demand upon Tenant for payment thereof at any earlier time, in which event such Additional Rent shall be due and payable at such time. 2.3.3. Each such payment shall be made promptly when due, without any deduction or set-off whatsoever, and without demand, failing which Tenant shall pay all to Landlord as Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, Rent: (a) make from time to time during a late charge in the Term a reasonable estimate amount of the Additional Rent which may become due for any year, five percent (5%) of such payment; and (b) require in the event such payment shall not be received by Landlord within five (5) days after such due date, then Tenant hereby covenants and agrees to pay to the Landlord such an “Additional Rent in equal installments Late Charge” at the time rate of eighteen percent (18%) per annum of the total amount due for each and in every day beyond five (5) days after said due date until the manner that the Tenant total payment is required hereunder to pay monthly installments of Base Rent, made; and (c) at in the Landlord’s reasonable discretionevent Tenant pays the rent by check and said check is returned by the bank unpaid, increase or decrease from time Tenant shall pay to time during Landlord the sum of Three Hundred Dollars ($300.00) to cover the costs and expenses of processing the returned check, in addition to the aforesaid monthly rent payment, and any late charges which may be involved. Notwithstanding the foregoing provisions of this Section 2.3.3 to the contrary, in the case of the first such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such eventpayment which is not paid when due, the Landlord shall cause the actual amount of Late Charge will be charged only if such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding in any order at Landlord’s sole discretion. Acceptance is received by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of more than five (5) days after the Tenant’s obligation to timely pay date when due all remaining amounts of Rent hereunder, which shall remain due in their entirety according to the terms of this Leasedue.

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “Additional Rent.” ”, including but not limited to building expenses, insurance, taxes, interest, late charges, and attorney’s fees. All Base Rent and Additional Rent are sometimes hereinafter together referred to as “Rent.” (B) The Base Rent for each year (or part thereof) during the Term shall be due and payable in 12 consecutive, equal monthly installments, in advance, without notice, demand, abatement, deduction or setoff, on the first day of each calendar month from and after the Rent Commencement Date during the Term, provided, however, that if the Term of this Lease shall commence on a day other than the first day of a month, the first payment shall include any prorated Base Rent for the period from the Rent Commencement Date to the first day of the first full calendar month thereafter, and further provided that the installment of Base Rent for the first full calendar month of after (or which may include) the Term Rent Commencement Date shall be due upon execution of this Leasethe Commencement Date. All checks should be made payable to Annapolis Exchange Lot IV, LLC and the payments shall be sent to Colliers ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attn: Accounts Receivable, or to such other address as Landlord may designate in writing. (C) Tenant shall pay all Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any year, (b) require the Tenant to pay to the Landlord such Additional Rent in equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s reasonable discretion, increase or decrease from time to time during such year the amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to the other the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent by Tenant to any amounts outstanding outstanding, in any order at order, in Landlord’s sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s obligation to timely pay when due all remaining amounts of Rent hereunder, which amounts shall remain due in their entirety according to the terms of this Lease.

When Due and Payable. (A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to hereinafter as “Additional Rent.” All 2.3.1. Base Rent and Additional Rent are sometimes hereinafter together referred to as “Rent.” (B) The Base Rent for each year (or part thereof) during the Term shall be due and payable in 12 twelve (12) consecutive, equal monthly installments, in advance, on the first (1st) day of each calendar month during the Term, ; provided that the installment of the Base Rent payable for the first full calendar month of the Term (and, if the Term commences on a day other than the first (1st) day of a calendar month, that portion of the Base Rent which is payable for such month) shall be due and payable upon the full execution and delivery of this Lease. 2.3.2. Any Additional Rent accruing under any provision of this Lease shall, except as is otherwise set forth herein, be due and payable when the installment of the Base Rent next falling due after such Additional Rent accrues becomes due and payable, unless ▇▇▇▇▇▇▇▇ makes written demand upon Tenant for payment thereof at any earlier time, in which event such Additional Rent shall be due and payable at such time, provided, however, in no event shall Tenant have less than twenty (C20) days after receipt of an invoice to make any payment of Additional Rent. 2.3.3. Each such payment shall be made promptly when due, without any deduction or set-off whatsoever, and without demand, failing which Tenant shall pay all to Landlord as Additional Rent within 30 days after being billed therefor by Landlord. However, Landlord may, at its discretion, Rent: (a) make from time to time during a late charge in the Term a reasonable estimate amount of the Additional Rent which may become due for any year, five percent (5%) of such payment; and (b) require in the event of such payment shall not be received by Landlord within five (5) days after such due date, then Tenant hereby covenants and agrees to pay to the Landlord interest on such Additional Rent in equal installments amount due payable at the Default Rate; provided, however, that no late charge or interest in clause (a) or (b) above shall be assessed if not more frequently than one (1) time and in any twelve-month period the manner that the Tenant Rent is required hereunder not paid when due, if such Rent is received by Landlord within five (5) days after notice thereof is delivered to pay monthly installments of Base RentTenant, and (c) in the event Tenant pays the rent by check and said check is returned by the bank unpaid, Tenant shall pay to Landlord the sum of Three Hundred Dollars ($300.00) to cover the costs and expenses of processing the returned check, in addition to the aforesaid monthly rent payment, and any late charges which may be involved. 2.3.4. If Tenant disputes the amount set forth in the Annual Statement delivered by Landlord pursuant to Section 2.2.2, Tenant shall have the right, at ▇▇▇▇▇▇'s sole expense, not later than ninety (90) days following receipt of such Annual Statement, to request in writing that Landlord's books and records in respect to the calendar year which is the subject of the Annual Statement be audited by a regionally recognized real estate company or certified public accountant selected by Tenant and reasonably acceptable to Landlord. The audit shall take place at the offices of Landlord where its books and records are located at a mutually convenient time during Landlord’s reasonable discretionregular business hours. Before conducting any audit, increase Tenant must pay the full amount of Operating Costs billed. Tenant shall have no right to conduct an audit or decrease from to give Landlord notice that it desires to conduct an audit at any time Tenant is in monetary default under the Lease. The accountant conducting the audit shall be compensated on an hourly basis and shall not be compensated based upon a percentage of overcharges it discovers. No subtenant shall have any right to time during conduct an audit. Tenant's right to undertake an audit with respect to any calendar year shall expire ninety (90) days after ▇▇▇▇▇▇'s receipt of the Annual Statement, and such year statement shall be final and binding upon Tenant and shall, as between the amount initially estimated for parties, be conclusively deemed correct, at the end of such yearninety (90) day period, all by giving the unless prior thereto Tenant shall have given Landlord written notice thereofof its intention to audit Operating Costs for the calendar year which is the subject of the Annual Statement. In If Tenant gives Landlord notice of its intention to audit Operating Costs, it must commence such event, the Landlord shall cause the actual amount of audit within sixty (60) days after such Additional Rent notice is delivered to be calculatedLandlord, and the audit must be completed within one hundred twenty (120) days after such notice is delivered to Landlord. If Tenant does not commence and complete the audit within such periods, the statement which Tenant elected to audit shall be deemed final and binding upon Tenant and shall, as between the parties, be conclusively deemed correct. Tenant's share of Operating Costs shall be appropriately adjusted based upon the results of such audit, and the results of such audit shall be final and binding upon Landlord and Tenant. In no event will this Lease be terminable nor shall Landlord be liable for damages based upon any disagreement regarding an adjustment of Operating Costs. Tenant agrees that the results of any Operating Cost audit shall be kept strictly confidential by ▇▇▇▇▇▇ and shall not be disclosed to any other person or entity (other than the Landlord shall within 30 days pay nationally recognized real estate company or certified public accountant hired by ▇▇▇▇▇▇; provided that they agree to the other same level of confidentiality). Any such audit conducted pursuant to this Section shall be conducted at Tenant’s sole cost and expense, unless such audit determines that the amount of any deficiency or overpayment, whichever the case may be. (D) Landlord shall have the right to apply any payment of Rent amounts paid by Tenant to any amounts outstanding Landlord for Operating Costs exceeds the amount to which Landlord was entitled to receive by more than five percent (5%) of the total Operating Costs, in any order at Landlordwhich case Landlord shall pay for the commercially reasonable fees and expenses of Tenant’s sole discretion. Acceptance by Landlord of any partial payment of Rent accounting firm, provided such fees shall not be deemed a waiver or satisfaction of the Tenant’s obligation to timely pay when due all remaining amounts of Rent hereunder, which shall remain due in their entirety according to the terms of this Leaseexceed $3,500.