USTR » Topics » RENT

This excerpt taken from the USTR 10-K filed Mar 16, 2005.

RENT

        3.1    Base Rent.    From and after the Base Rent Commencement Date, Tenant shall pay to Landlord at the address set forth in Section 1(b) of the Basic Lease Provisions or to such other person or at such other place as Landlord may from time to time designate, without previous demand therefor and without counterclaim, deduction or set-off, the Base Rent set forth on the Base Rent Rider annexed hereto, such Base Rent to be payable in monthly installments as set forth on the Rent Rider in advance on the first day of each month during the term of the Lease. If the Base Rent Commencement Date shall be other than the first day of a calendar month, Tenant shall pay Landlord on the Base Rent Commencement Date the proportionate amount of Base Rent for the balance of such month. Tenant shall pay the first installment of Base Rent together with a proportionate amount of Base Rent for the balance of the initial month following the Base Rent Commencement Date on or before the Base Rent Commencement Date.

        3.2    Additional Rent.    This Lease is a triple net lease and it is intended and agreed that Tenant shall pay, in addition to Base Rent, all costs for the Property as well as any and all costs, expenses and fees in maintaining and repairing the Property and any easements servicing the Property and any and all real and personal property taxes and assessments levied with respect to the Property or any property therein, excepting only Landlord's obligations as set forth in Section 8.2, all as more particularly set forth in this Lease. All amounts due and payable by Tenant pursuant to this Lease in addition to Base Rent shall be deemed "Additional Rent" and Landlord shall be entitled to exercise the same rights and remedies upon default in these payments, regardless of to whom such sums may be payable, as Landlord is entitled to exercise with respect to defaults in monthly Base Rent. The term "rent" means the Base Rent and Additional Rent. Tenant shall pay all items of Additional Rent from and after the Commencement Date.

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