Fixed Minimum Rent means the annual rent specified in the preamble to this Lease, as increased in accordance with Article B-1.
Fixed Minimum Rent shall be the Fixed Minimum Rent specified above, payable monthly in advance on the first day of each month, without prior demand therefore and without any deduction or setoff whatsoever. In addition, Tenant covenants and agrees to pay Landlord all applicable sales or other taxes as set forth in Section II.5, which may be imposed on the above specified rents or payments hereinafter provided for to be received by Landlord when each such payment is made.
Fixed Minimum Rent means Annual Fixed Minimum Rent and/or Monthly Fixed Minimum Rent (as the case may be).
Examples of Fixed Minimum Rent in a sentence
If the Rent Commencement Date falls on a day other than the first day of a calendar month, the Fixed Minimum Rent for such month shall be prorated on a per diem basis, calculated on the basis of a thirty (30) day month.
Monthly installments of Fixed Minimum Rent shall be payable to Landlord at the address of Landlord set forth in Section 8.11 hereof or at such other address as Landlord may, from time to time, direct.
Fixed Minimum Rent for any partial calendar month during the Lease Term shall be prorated on a per diem basis.
If Tenant occupies the Premises prior to the Commencement Date or for any partial month, then the Fixed Minimum Rent and all other charges hereunder for such period of occupancy prior to the Commencement Date or for such partial month shall be prorated on a daily basis based on a thirty (30) day month.
If Tenant defaults under this Lease more than one (1) time in any twelve (12) month period, irrespective of whether such default is cured by Tenant or waived by Landlord, then, immediately upon demand by Landlord, Tenant shall immediately increase the Security Deposit to an amount equal to the greater of (a) three (3) times the amount set forth in Section 2.6 or (b) one-fourth (1/4th) of the then applicable annual Fixed Minimum Rent.
More Definitions of Fixed Minimum Rent
Fixed Minimum Rent. One Hundred Fifty Three Thousand Nine Hundred Thirty Eight and Zero/100 Dollars ($153,938.00) for the first lease year, payable in equal monthly installments of Twelve Thousand Eight Hundred Twenty Eight and Seventeen/100 Dollars ($12,828.17).
Fixed Minimum Rent. Year 1: 1.10/SF plus .15/SF C.A.M. Year 2: 1.13/SF plus .15/SF C.A.M. Year 3: 1.17/SF plus .15/SF C.A.M. Year 4: 1.20/SF plus .15/SF C.A.M. (dependent on CPJ) Year 5: 1.24/SF plus .15/SF C.A.M. (dependent on CPI) Plus two five year options (Yr. 1 $7,118.75/mo., Yr. 2 $7,281.20/mo., Yr. 3 $7,497.80/mo., Yr. 4 $7,660.25/mo., Yr. 5 $7,876.85/mo.) Rental rate includes maintenance expense of the entrance sign and 10 covered parking stalls Use of Premises: Banking (Section 5.01)
Fixed Minimum Rent. The sum due and payable to the Landlord will be $2,186,467.26 for the initial term of the Lease payable each Year as defined in 1.01(J) and calendar month during the Lease Term, subject to adjustment as provided in Section 3.01, is: ================================================================================ YEAR ANNUAL FIXED MINIMUM RENT MONTHLY RENT -------------------------------------------------------------------------------- 1 $ 54,276.16 $ 4,523.00 -------------------------------------------------------------------------------- 2 $171,484.11 $14,290.34 -------------------------------------------------------------------------------- 3 $188,178.11 $15,681.51 -------------------------------------------------------------------------------- 4 $188,178.11 $15,681.51 -------------------------------------------------------------------------------- ================================================================================ YEAR ANNUAL FIXED MINIMUM RENT MONTHLY RENT -------------------------------------------------------------------------------- 5 $204,872.11 $17,072.68 -------------------------------------------------------------------------------- 6 $204,872.11 $17,072.68 -------------------------------------------------------------------------------- 7 $221,566.1 $18,463.84 -------------------------------------------------------------------------------- 8 $221,566.11 $18,463.84 -------------------------------------------------------------------------------- 9 $238,260.11 $19,855.01 -------------------------------------------------------------------------------- 10 $238,260.11 $19,855.01 -------------------------------------------------------------------------------- 11 $254,954.11 $21,246.18 ================================================================================ The Fixed Minimum Rent above excludes any applicable state or local imposed sales taxes on Rent due hereunder, the cost of which shall be borne by Tenant in accordance with Florida state law.
Fixed Minimum Rent is amended by increasing the fixed monthly rent to One Hundred Thirty-three Thousand Four Hundred Thirteen Dollars ($133,413.00) per month during the last five (5) year period of the permit commencing July 1, 1991, or any portion thereof.
Fixed Minimum Rent. The sum due and payable each Year as defined in Section 1.1(j) and calendar month during the Lease Term, subject to adjustment as provided herein, is: (i) for and with respect to the first Year at the annual rate of $177,528.00 (monthly rate of $14,794.00) payable in monthly installments; and (ii) the Fixed Minimum Rent for each Year of the Lease Term (as extended) after the first Year shall be determined as follows: For purposes of this computation, the term "Base Month" shall mean the calendar month which is four (4) months prior to the first full month of the first Year and the term "Comparison Month" shall mean the calendar month which is four (4) months prior to the first full month of the Year for which the Fixed Minimum Rent is being computed. The Fixed Minimum Rent for each Year of the Lease Term after the first Year of the Lease Term shall be equal to the Fixed Minimum Rent on an annual basis for the first Year as set forth in Section 1.1(p)(i) immediately above (disregarding any rental abatement or concessions) plus an amount equal to the product of fifteen (15.0) times the percentage increase in the Consumer Price Index for the Comparison Month as compared to the Consumer Price Index for the Base Month, multiplied by the Fixed Minimum Rent for the first Year as set forth in Section 1.1(p)(i) immediately above (disregarding any rental abatement or concessions). Notwithstanding the foregoing, in no event shall the Fixed Minimum Rent for a Year be less than the Fixed Minimum Rent for the prior Year (disregarding any rental abatement or concessions) and in no event shall the Fixed Minimum Rent for such Year be greater than the following amounts (increased as otherwise provided in this Lease) for the Years shown: YEAR $/SF ANNUAL FIXED MINIMUM RENT MONTHLY RENT ---- ---- -------------------------------------- 1-5 $13.00 $177,528.00 $14,794.00 6-10 $14.30 $195,280.80 $16,273.00 11-15 $15.73 $214,808.88 $17,900.74 Option Periods: 16-20 $17.30 $236,248.80 $19,687.40 21-25 $19.03 $259,873.68 $21,656.14 26-30 $20.94 $285,956.64 $23,829.72
Fixed Minimum Rent in the amounts set forth below: Year Annual/SF Monthly Rent Annual Rent -------------------------------------------------------------------------------- Year 1 $ 57.00 $ 6,175.00 $74,100.00 Years 2-15 Annually increase the then existing Fixed Minimum Rent by three (3%) percent. Option 1 (years 16 - 20) The initial increase for Year 16 shall be the then existing Fixed Minimum Rent increased by the greater of three (3%) percent or the increase in the CPI from Year 1 through Year 15 as it would have been applied to the Year 1 Rent through Year 15 and with no other rent adjustment during that period of time. Beginning Year 17, Fixed Minimum Rent shall increase annually by three (3%) percent. Option 2 (years 21-25) Annually increase the then existing Fixed Minimum Rent by three (3%) percent. The "Years" referred to above are consecutive 12-month periods commencing on the Term Commencement Date (including as the first "month" in the first Year any partial calendar month at the beginning of the Term). Fixed Minimum Rent shall be paid in equal monthly installments, without notice, deduction or offset, in advance on or before the first day of each month during the Term; provided, however, if the Rent Commencement Date is not the first day of a calendar month, then Tenant shall pay to Landlord, on the Rent Commencement Date, a pro rata portion of the Fixed Minimum Rent for such partial calendar month, prorated based on a 30-day month.
Fixed Minimum Rent. The Fixed Minimum Rent for each Lease Year is summarized as follows: Months Fixed Minimum Rent Per Month Suite 3126 Suite 3122* Months 1-6 $2,500.00** $ 940.00** Months 7-12 $5,000.00 $1,880.00 Months 13-24 $5,150.00 $1,936.40 Months 25-36 $5,304.50 $1,994.49 Months 37-39 $5,463.64 $2,054.33 *In accordance with Section 3.3, all Rent for Suite 3122 will axxxx until such time as Landlord delivers Suite 3122 to Tenant. **Provided that there is no Event of Default by Tenant under the Lease, one half of the Fixed Minimum Rent will be abated during the first six (6) months of the Lease Term. If, at any time during the Lease Term, there is an Event of Default by Tenant under the Lease, the abated Fixed Minimum Rent will become immediately due and payable. Tenant shall pay all Additional Rent during such period and throughout the Lease Term. ADVANCE RENT: $4,000.66 REIMBURSEMENT OF OPERATING COSTS: TENANT'S PROPORTIONATE SHARE FOR OPERATING COSTS: 12.95% (7.96% until such time as Landlord delivers Suite 3122 to Tenant) TENANT'S PROPORTIONATE SHARE FOR REAL ESTATE TAXES: 12.95% (7.96% until such time as Landlord delivers Suite 3122 to Tenant) SECURITY DEPOSIT: $15,838.84 TYPE OF GUARANTY: See Exhibit G attached. BROKER: Landlord – CB Rxxxxxx Xxxxx (Axxx Xxxxxx and Sxxxxx Xxxxx) Tenant – Colliers International (Jxxxx Xxxxxx) PERMITTED USE: Research and development, light fabrication and ancillary office functions. PARKING SPACES: See Section 2.3 (Parking). The Basic Lease Information is incorporated into and made a part of this Lease. Each reference in this Lease to any information or definitions contained in the Basic Lease Information means and refers to the information and definitions set forth in the Basic Lease Information. References in this document to the term "Lease" mean the Basic Lease Information, the body of this Lease, and any Exhibits, Addenda, or Riders thereto. The provisions of the body of this Lease will be read to implement the Basic Lease Information.