LANDLORD IN
LANDLORD'S PERFORMANCE OF THE LANDLORD'S WORK (INCLUDING WITHOUT LIMITATION
INTERNALLY RELOCATING WITHIN THE PREMISES, AT TENANT'S SOLE COST, TENANT'S
PERSONNEL AND/OR FURNITURE, FIXTURES AND EQUIPMENT SO AS NOT TO INTERFERE WITH
LANDLORD'S WORK), TENANT HEREBY ACKNOWLEDGING THAT SUCH WORK SHALL BE PERFORMED
ON BUSINESS DAYS DURING BUILDING SERVICE HOURS.
3
4.
RENT.
4.1
TENANT SHALL PAY LANDLORD, WITHOUT ANY SETOFF OR DEDUCTION, UNLESS
EXPRESSLY SET FORTH IN THIS LEASE, ALL BASE RENT AND ADDITIONAL RENT DUE FOR THE
TERM (COLLECTIVELY REFERRED TO AS "RENT"). "ADDITIONAL RENT" MEANS ALL SUMS
(EXCLUSIVE OF BASE RENT) THAT TENANT IS REQUIRED TO PAY LANDLORD UNDER THIS
LEASE. TENANT SHALL PAY AND BE LIABLE FOR ALL RENTAL, SALES AND USE TAXES (BUT
EXCLUDING INCOME TAXES), IF ANY, IMPOSED UPON OR MEASURED BY RENT.
BASE RENT
AND RECURRING MONTHLY CHARGES OF ADDITIONAL RENT SHALL BE DUE AND PAYABLE IN
ADVANCE ON THE FIRST DAY OF EACH CALENDAR MONTH WITHOUT NOTICE OR DEMAND,
PROVIDED THAT THE INSTALLMENT OF BASE RENT FOR THE FIRST FULL CALENDAR MONTH OF
THE TERM, AND THE FIRST MONTHLY INSTALLMENT OF ADDITIONAL RENT FOR EXPENSES AND
TAXES, SHALL BE PAYABLE UPON THE EXECUTION OF THIS LEASE BY TENANT.
UNLESS
OTHERWISE SPECIFICALLY SET FORTH HEREIN, ALL OTHER ITEMS OF RENT SHALL BE DUE
AND PAYABLE BY TENANT ON OR BEFORE THIRTY (30) DAYS AFTER BILLING BY LANDLORD.
RENT SHALL BE MADE PAYABLE TO THE ENTITY, AND SENT TO THE ADDRESS, LANDLORD
DESIGNATES AND SHALL BE MADE BY GOOD AND SUFFICIENT CHECK OR BY OTHER MEANS
ACCEPTABLE TO LANDLORD AND INITIALLY SHALL BE MADE AS FOLLOWS:
IF BY REGULAR MAIL:
NORMANDY NICKERSON ROAD, LLC
P.O. BOX 30930
NEW YORK, NEW YORK 10087-0930
IF BY OVERNIGHT MAIL/COURIER:
JP MORGAN CHASE - LOCKBOX PROCESSING
NORMANDY NICKERSON ROAD, LLC
LOCKBOX 30930
4 CHASE METROTECH CENTER
GROUND LEVEL COURIER ON WILLOUGHBY STREET
BROOKLYN, NY 11245
IF BY WIRE TRANSFER:
NORMANDY NICKERSON ROAD, LLC
ACCOUNT NO. 230460283
ABA : 021000021
BANK: JPMORGAN CHASE BANK
401 MADISON AVENUE
NEW YORK, NY 10017
TENANT SHALL PAY LANDLORD AN ADMINISTRATION FEE EQUAL TO 5% OF ALL PAST DUE RENT
THAT IS NOT PAID WITHIN FIVE (5) DAYS OF THE DATE WHEN DUE.
IN ADDITION, PAST
DUE RENT SHALL ACCRUE INTEREST AT THE LESSER OF 12% PER ANNUM OR THE MAXIMUM
RATE ALLOWED BY LAW FROM THE DUE DATE UNTIL ACTUALLY PAID.
LANDLORD'S
ACCEPTANCE OF LESS THAN THE CORRECT AMOUNT OF RENT SHALL BE CONSIDERED A PAYMENT
ON ACCOUNT OF THE EARLIEST RENT DUE. RENT FOR ANY PARTIAL MONTH DURING THE TERM
SHALL BE PRORATED. NO ENDORSEMENT OR STATEMENT ON A CHECK OR LETTER ACCOMPANYING
PAYMENT SHALL BE CONSIDERED AN ACCORD AND SATISFACTION.
TENANT'S COVENANT TO
PAY RENT IS INDEPENDENT OF EVERY OTHER COVENANT IN THIS LEASE.
4.2
TENANT SHALL PAY TENANT'S PRO RATA SHARE OF TAXES AND EXPENSES IN
ACCORDANCE WITH EXHIBIT B OF THIS LEASE.
4
4.3
TENANT WAIVES ALL RIGHTS (I) TO ANY ABATEMENT, SUSPENSION,
DEFERMENT OR REDUCTION OF OR FROM RENT, AND (II) TO QUIT, TERMINATE