Percentage Rent Rate definition

Percentage Rent Rate shall have the meaning set forth in Section 3.02A hereof.

Percentage Rent Rate. Five percent (5%).

Percentage Rent Rate shall have the meaning set forth in Section 4.11.1. [if applicable because the Improvements are to be used for retail or hotel purposes]

Examples of Percentage Rent Rate in a sentence

• As additional rent, payable in addition to all other amounts set forth in this Lease, Tenant shall pay to Landlord as Percentage Rent an amount computed by multiplying the Percentage Rent Rate, as set forth in the Lease Schedule, times the Adjusted Gross Sales (as hereinafter defined).

• The term “Percentage Rent” as used in this Lease shall mean the amount of Tenant’s monthly Gross Sales (as defined below) multiplied by the Percentage Rent Rate (as defined below), as adjusted pursuant to subsection (c) below.

• Beginning with the second year of the Lease Term, on or before the 15th day following the last day of each month during the term following the Rent Commencement Date, Tenant shall pay to Landlord as Percentage Rent the amount of Gross Sales during the preceding month multiplied by the Percentage Rent Rate.

• The Percentage Rent shall be equal to the product of the Percentage Rent Rate, by category, times Concessionaire’s year-to-date Gross Receipts (as defined below) minus the sum of the year-to-date MAG amount and percentage rent paid year-to-date as set forth below [Percentage Rent = (Percentage Rent Rate X year-to-date Gross Receipts) –(year-to-date MAG + percentage rent paid year-to-date)].

• Each monthly payment of Percentage Rent shall be equal to (a) the applicable 23 Percentage Rent Rate multiplied by the amount by which the Tenant's Aggregate Gross Sales as of the 24 Percentage Rent Calculation Date exceed the Percentage Rent Pro-Rated Breakpoint(s) as of the 25 Percentage Rent Calculation Date less (b) the sum of the Percentage Rent payments made previously by 26 Tenant with respect to such Lease Year.

More Definitions of Percentage Rent Rate

Percentage Rent Rate means the rate specified at Section 1.9.

Percentage Rent Rate as used in this Lease shall mean ____ percent (__%) of monthly Gross Sales from the sale of goods and services at or from the Premises

Percentage Rent Rate. Five percent (5%) of annual gross sales. Accordingly, for each year during the initial ten (10) years of the Lease, Tenant shall pay percentage rent equal to 5% of annual gross sales in excess of $2,599,200; for each year of the next five years (i.e., July 1, 2006 - June 30, 2011) of the Lease, Tenant shall pay percentage rent equal to 5% of annual gross sales in excess of $3,465,600; for each year of the first option term of the Lease, Tenant shall pay percentage rent equal to 5% of annual gross sales in excess of $3,754,400; and for each year of the second option term of the Lease, Tenant shall pay percentage rent equal to 5% of annual gross sales in excess of $4,332,000. Notwithstanding anything to the contrary, provided that Tenant is not in default beyond applicable cure periods of any of the covenants, terms and conditions of the Lease to be performed by Tenant, Tenant shall have a credit against annual percentage rent coming due in each of the first five (5) full fiscal years of the initial term of $12,500. The maximum credit for which Tenaxx xx eligible hereunder shall be $62,500. To the extent the full $12,500 credit is not used in any year, it shall be lost, it being the agreement of the parties that the credits shall not be cumulative.

Percentage Rent Rate means ninety-three percent (93%).

Percentage Rent Rate. Six Percent (6%). Percentage Rent shall commence for the period from and including the thirteenth (13th) full fiscal calendar month following the Rent Commencement Date (based on Tenant’s fiscal periods.

Percentage Rent Rate multiplied by the dollar amount of Tenant’s “Gross Sales” (as defined in Paragraph 7.1(d) below) made in, upon, or from the Premises during each calendar year of the Term, less the aggregate amount of the Minimum Rent, Tenant’s Share of Adjustments (as set forth in Paragraph 7.2), and Tenant’s Monthly Parking Fee (as set forth in Paragraph 25.3(b) of the Addendum), and Promotional Fund dues (as set forth in Paragraph 30), previously paid or payable by Tenant and allocable to said Lease Year calendar year (“Annual Breakpoint”) (such additional rent is referred to herein as “Percentage Rent”). Clearly agree about what items can be of fset against percentage rent. Minimum rent is common, but common area maintenance charges, taxes, promotion fund payments, etc. may also be of fset.

Percentage Rent Rate means six percent (6%) and “Gross Sales Base” means the then-current Base Annual Rent (less amounts added to Base Annual Rent pursuant to Section 5.1.6 (Additional Rent)) divided by seven and one-quarter percent (7.25%). The Gross Sales Base shall be reduced proportionately for any Lease Year which is less than twelve (12) calendar months. Tenant shall pay Percentage Rent annually, within thirty (30) days after the end of each Lease Year, with respect to the Gross Sales made during each Lease Year. Within thirty (30) days after the end of each Lease Year, Tenant shall deliver to Landlord: (a) an annual cumulative statement for the prior Lease Year, signed by the chief financial officer (or equivalent) of Tenant and audited by an independent certified public accountant, with such statement in such detail as Landlord reasonably requires, showing the Gross Sales for the prior Lease Year and (b) payment of the Percentage Rent payable for the prior Lease Year. There shall be a separate computation for Gross Sales and Percentage Rent for each Lease Year, and Gross Sales of any Lease Year and the Percentage Rent due thereon shall have no bearing on Gross Sales of any other Lease Year.