Reso 2013-2162 - Laserfiche WebLink

Home Browse Search

default at the time of the renewal of the applicable term. If Subtenant is not in default, Subtenant shall have the right to extend the Sublease Term by giving Sublessor written notice of its election to extend the term of this Sublease not less than one hundred fifty (150) days prior to the expiration of the Initial Term or the then running Renewal Term. All of the terms and conditions of this Sublease shall remain in full force and effect during each Renewal Term, if exercised. 4. Rent. 4.1 Base Rent. Subtenant shall pay directly to Landlord, in lawful United States currency, base monthly rent of Fifteen Thousand and No /100 Dollars ($15,000.00) (the 'Base Rent ") plus all applicable sales tax. The Base Rent shall be subject to increases in the CPI, as defined in the Prime Lease, as set forth in Section 4(b) of the Prime Lease. All Base Rent shall be payable in equal monthly installments, in advance, beginning on the Rent Commencement Date, as hereinafter defined, and continuing on the first day of each and every calendar month thereafter during the Sublease Term. Base Rent payments for any fractional month shall be paid on a per diem basis (calculated on the basis of the number of days in such month). Notwithstanding the foregoing, the parties hereto agree and acknowledge that the Base Rent will be abated until three (3) months from the date the appropriate governmental agency issues a temporary certificate of occupancy or certificate of occupancy on the Sublease Premises (the "Rent Commencement Date "). 4.2 Percentage Rent. Simultaneously with and in addition to the payment of Base Rent, Subtenant shall pay to Sublessor for each year of the Sublease Term, as percentage rent (the "Percentage Rent "), an amount equal to the amount by which (i) the product of (x) ten percent (10 %) and (y) all Gross Sales, as hereinafter defined, resulting from business conducted by Subtenant (or any of its concessionaires, if applicable) in, on or from the Prime Lease Premises for the respective month, exceeds (ii) the Base Rent, plus applicable sales tax. The Percentage Rent shall be paid in monthly installments computed in accordance herewith commencing after the three (3) month rent abatement period, and shall be payable within five (5) days following the end of each month during the Sublease Term. The term "Gross Sales" as used herein shall be construed to include the entire amount of the actual sales price, whether for cash or otherwise, of all sales of merchandise or services and all other receipts whatsoever of all business conducted in or from the Prime Lease Premises by Subtenant. A "sale" shall be deemed to have been consummated for the purposes of this Sublease, and the entire amount of the sales price shall be included in Gross Sales, at such time that (i) the transaction is initially reflected in the books or records of Subtenant or a concessionaire (if a concessionaire makes the sale), or (ii) Subtenant or such concessionaire receives all or any portion of the sales price, or (iii) the applicable goods or services are delivered to the customer, whichever first occurs, irrespective of whether payment is made in installments, the sale is for cash or for credit, or otherwise, or all or any portion of the sales price has actually been paid at the time of inclusion in Gross Sales or at any other time. No deduction shall be allowed for direct or indirect discounts, rebates, or other reductions on sales to others, unless generally offered to the public on a uniform basis. In addition, no deduction shall be allowed for uncollected or uncollectible credit accounts, or for trade -ins or other credits on sales to employees or others. The term "Gross Sales" shall not include, however, any sums collected and paid out by Subtenant for any sales or excise tax imposed by and accounted for by Subtenant to any duly 2