Common use of Adjustment of Base Rental Clause in Contracts

Adjustment of Base Rental. (a) To the extent any Reimbursement Obligation or accrued interest thereon has not been paid as and when due or any deferred Excess Interest remains unpaid, following the Termination Date and for so long thereafter as any Reimbursement Obligations remain unpaid, the County and the Corporation shall increase the amount of the Base Rental payable under the Sublease for the Property to the greater of (i) the Maximum Base Rental for the Property or (ii) the maximum fair rental value of the Property determined in accordance with subsection (b) below.

Appears in 4 contracts

Samples: Credit and Reimbursement Agreement, Credit and Reimbursement Agreement, Credit and Reimbursement Agreement

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