Annual Base Rent Beginning on the Commencement Date, Tenant agrees to pay Landlord, without prior demand therefor, and without set-off or deduction, a yearly base minimum rent in the amount of Twenty-six Thousand Four Hundred Eighteen and No/100 Dollars ($26,418.00), payable in monthly installments, each in the amount of Two Thousand Two Hundred One and 50/100 Dollars ($2,201.50) plus an annual parking charge in an amount pursuant to the paragraph below (collectively, the base minimum rent and parking charge shall be defined herein as the “Base Rent”). In the event the Commencement Date falls on a day other than the first day of a calendar month, then the monthly installment of Base Rent shall be prorated for such month. In the event this Lease expires or is terminated on a day that is other than the last day of a calendar month, then the Base Rent for the month in which the Term expires or is terminated shall be prorated. Tenant shall pay the Base Rent to Landlord at Landlord’s address set forth in Section 17.5 of this Lease, or at such other place as Landlord may from time to time designate to Tenant in writing (in accordance with Section 17.5 of this Lease), in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America. Beginning on the Commencement Date, Tenant shall also pay to Landlord an annual parking charge that shall be part of the Base Rent and initially shall be equal to the product of One Hundred and No/100 Dollars ($100.00) multiplied by the number of parking spaces which are allocated for Tenant’s use under Section 2.2 of the REA (initially, 120 spaces), being initially Twelve Thousand and No/100 Dollars ($12,000.00) per year. In the event Tenant should demand the LTACH Exclusive Parking Rights, as provided for in the REA, then from and after the date that Tenant begins to have such exclusive parking, the amount of the parking charge that shall be part of the Base Rent shall be increased to One Hundred Twenty-Five Percent (125%) of the parking charge then in effect at the time that Tenant begins to have such exclusive parking, with the amount prorated for any partial calendar year. Both the minimum rent and the parking charge that comprise the Base Rent shall be subject to adjustment pursuant to Section 3.5 below.
Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.
Monthly Base Rent On each Due Date, each Lessee shall pay to the Lessor the Monthly Base Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;
Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.
Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, ("Code")), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers ("Effective Rate") is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.
Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.
Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )
Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5, which amount shall be subject to increase as provided in Sections 1.5 and 4.3. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, Tenant shall pay the first month’s Minimum Monthly Rent to Landlord.
Payment of Base Rent Tenant agrees to pay the Base Rent for the Premises. Monthly Installments of Base Rent shall be payable in advance on the first day of each calendar month of the Term. If the Term begins (or ends) on other than the first (or last) day of a calendar month, the Base Rent for the partial month shall be prorated on a per diem basis. Tenant shall pay Landlord the first Monthly Installment of Base Rent when Tenant executes the Lease.