Percentage Rent. In addition to the Base Rent, Lessee shall be: (check one) ☐ - Not required to make payments related to Lessee’s sales or revenue (“Percentage Rent”). ☐ - Required to pay __________________ percent (____%) of __________________ (gross sales, net sales, etc.). Such payment shall be made ☐ Monthly ☐ Quarterly ☐ Annually along with a receipt to show proof of percentage calculation (“Percentage Rent”). The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.”
Percentage Rent. Any percentage rents due or paid under any of the Leases (“Percentage Rent”) shall be prorated between Buyer and Seller outside of Closing as of the Close of Escrow on a Lease-by-Lease basis, as follows; (a) Seller shall be entitled to receive the portion of the Percentage Rent under each Lease for the Lease Year in which Closing occurs, which portion shall be the ratio of the number of days of said Lease Year in which Seller was Landlord under the Lease to the total number of days in the Lease Year, and (b) Buyer shall receive the balance of Percentage Rent paid under each Lease for the Lease Year. As used herein, the term “Lease Year” means the twelve (12) month period as to which annual Percentage Rent is owed under each Lease. Upon receipt by either Buyer or Seller of any gross sales reports (“Gross Sales Reports”) and any full or partial payment of Percentage Rent from any tenant of the Property, the party receiving the same shall provide to the other party a copy of the Gross Sales Report and a check for the other party’s prorata share of the Percentage Rent within five (5) days of the receipt thereof. In the event that the Tenant only remits a partial payment, then the amount to be remitted to the other party shall be its prorata share of the partial payment. Nothing contained herein shall be deemed or construed to require either Buyer to Seller to pay to the other party its prorata share of the Percentage Rent prior to receiving the Percentage Rent from the Tenant, and the acceptance or negotiation of any check for Percentage Rent by either party shall not be deemed a waiver of that party’s right to contest the accuracy or amount of the Percentage Rent paid by the Tenant.
Percentage Rent. In addition to the Base Rent, Tenant shall be: (check one) ☐ – Not required to make payments related to Tenant’s sales or revenue (“Percentage Rent”). ☐ – Required to pay [#]% of [TYPE OF SALES] (gross sales, net sales, etc.). Such payment shall be made with a receipt and proof of calculation and paid each: (check one) ☐ Monthly ☐ Quarterly ☐ Annually The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.” 7.
Percentage Rent. For each fiscal year during the Term commencing with the fiscal year in which the Commencement Date falls and ending with the fiscal year in which the Term (including any applicable extensions) ends, Lessee shall pay percentage rent (“Percentage Rent”). Percentage Rent for the applicable Fiscal Year shall be an amount equal to the applicable Annual Revenues Computation (as defined below) less an amount equal to the Base Rent paid with respect to such Fiscal Year. For the purpose of the foregoing calculation: The annual revenues computation (“Annual Revenues Computation”) is equal to the amount obtained by adding, for the applicable Fiscal Year, an amount equal to the sum of (i) seventeen percent (17%) of all Suite Revenues for the applicable Fiscal Year up to the applicable suite revenue breakpoint (the “Suite Revenue Breakpoint”) described in Schedule 3.1(b), attached hereto, (prorated for the first and last Fiscal Year of the Term (including any applicable extensions)) and fifty-five percent (55%) of all Suite Revenues for the applicable Fiscal Year in excess of the applicable Suite Revenue Breakpoint. At the beginning of each Fiscal Year, the Suite Revenue Breakpoints shall be adjusted by the same percentage that the Base Rent is adjusted pursuant to Subsection 3.1(d). The Percentage Rent shall be payable as follows:
Percentage Rent. In addition to the Base Rent, Tenant shall also pay to Landlord each year percentage rent in an amount equal to percentage rent rate specified in Section 1.1(n) of this lease multiplied by the excess of (i) the total Gross Sales made in or from the Premises during the calendar year in question over (ii) the Breakpoint. As used herein, the “
Percentage Rent. Tenant shall (i) not later than the twenty-first (21st) day after the close of each calendar month, deliver to Landlord a written statement certified by an officer of Tenant to the best knowledge of such officer, showing Gross Sales made in such calendar month; and (ii) not later than 30 days after the end of each Lease Year or Partial Lease Year, deliver to Landlord a statement of Gross Sales for such Lease Year or Partial Lease Year the correctness of which is certified to by an independent certified public accountant. If Tenant fails to prepare and deliver any statement of Gross Sales required hereunder, within the time or times specified above, then Landlord shall have the right, in addition to the other rights and remedies set forth in this Lease, (a) to collect from Tenant a sum which shall be [***] per calendar day for each day that Gross Sales reports are not so submitted, and (b) to estimate Tenant's Gross Sales for any non-reported period (which estimate shall be based upon prior Lease Years' Gross Sales, if available, and reasonable extrapolations which may be derived therefrom) and bill Xxxant's Percentage Rent accordingly. Landlord reserves the right, at Landlord's option, to adjust Percentage Rent billxxxx xxxn actual Gross Sales reports are received. On or before the twenty-first (21st) day of each May, August, November and February, Tenant shall pay Landlord [***] of Gross Sales of Tenant generated by Tenant's Simulators during the three (3) months (or less in a Partial Lease Year) ending on the last day of the month preceding such payment date to the extent such Gross Sales exceed [***] (pro rated accordingly for a period of less than three [3] months) for such period and [***] of Gross Sales of Tenant generated by the sale of merchandise during the three (3) months (or less in a Partial Lease Year) ending on the last day of the month preceding such payment date to the extent such Gross Sales exceed [***] (pro rated accordingly for a period of less than three [3] months) for such period. Within thirty (30) days after the later of (i) the due date for Tenant's annual report of Gross Sales, or (ii) the date of Landlord's receipt of such annual report, if Tenant has paid Landlord for such Lease Year or Partial Lease Year Percentage Rent greater than Tenant is obligated to pay for such period, Landlord shall refund such excess, and if Tenant has paid less than the Percentage Rent required to be paid for such period, Tenant shall pay Landlord s...
Percentage Rent. If a lease for which a commission is payable hereunder contains a percentage rent clause, Client shall pay a commission on the percentage rent payable by the tenant at the commission rate applicable to the period of the lease term for which the percentage rent is payable. This commission shall be payable within fifteen (15) days after receipt of each tenant payment to Client.
Percentage Rent. The Tenant must pay % of ☐ ☐ ☐ (gross sales, net sales, etc.). Such payments shall be made, with proof of calculation: (check one) - Monthly - Quarterly - Annually Hereinafter known as the “Percentage Rent.” The Base Rent and the Percentage Rent shall be referred to collectively as the “Rent.”
Percentage Rent. Lessee shall pay, as additional rent, a percentage rent (“Percentage Rent”) calculated as set out below.
