Common use of When Due and Payable Clause in Contracts

When Due and Payable. 2.3.1. The Base Rent for any Lease Year shall be due and payable in twelve (12) consecutive, equal monthly installments, in advance, on the first (lst) day of each calendar month during such Lease Year; provided, that the first monthly installment of the Base Rent will be due and payable upon lease execution. 2.3.2. Any Additional Rent, other than Annual Operating Costs which are due and payable with each payment of Base Rent, accruing to the Landlord under any provision ______________________ select an independent certified public accounting firm (the "Independent Accountant") which firm shall conclusively determine whether the adjustment or estimated increase or decreases is reasonable, and if not, what amount is reasonable. Both parties shall be bound by such determination. If Tenant's Accountants do not participate in choosing the Independent Accountant within 20 days from the date Landlord and Tenant's Accountant's determine that they cannot agree as to whether or not an error has been made, then Landlord's determination of the adjustment or estimated increase or decrease shall be conclusively determined to be reasonable and Tenant shall be bound hereby.