Common use of ADJUSTMENTS OF MINIMUM RENT FOLLOWING DISBURSEMENTS Clause in Contracts

ADJUSTMENTS OF MINIMUM RENT FOLLOWING DISBURSEMENTS. UNDER SECTIONS 5.1.3(B), 10.2.3 AND 11.2. Effective on the date of each disbursement to pay for the cost of any repairs, maintenance, renovations or replacements pursuant to Sections 5.1.3(b), 10.2.3 or 11.2, the annual Minimum Rent shall be increased by a per annum amount equal to the Disbursement Rate times the amount so disbursed. If any such disbursement is made during any month on a day other than the first Business Day of an Accounting Period, Tenant shall pay to Landlord on the first Business Day of the immediately following Accounting Period (in addition to the amount of Minimum Rent payable with respect to such Accounting Period, as adjusted pursuant to this paragraph (b)) the amount by which Minimum Rent for the preceding Accounting Period, as adjusted for such disbursement on a per diem basis, exceeded the amount of Minimum Rent paid by Tenant for such preceding Accounting Period.

Appears in 2 contracts

Samples: Lease Agreement (Sholodge Inc), Lease Agreement (Candlewood Hotel Co Inc)

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ADJUSTMENTS OF MINIMUM RENT FOLLOWING DISBURSEMENTS. UNDER SECTIONS 5.1.3(B5.1.3(b), 10.2.3 AND 11.2. Effective on the date of each disbursement to pay for the cost of any repairs, maintenance, renovations or replacements pursuant to Sections 5.1.3(b), 10.2.3 or 11.2, the annual Minimum Rent shall be increased by a per annum amount equal to the Disbursement Rate times the amount so disbursed. If any such disbursement is made during any month on a day other than the first Business Day of an Accounting Period, Tenant shall pay to Landlord on the first Business Day of the immediately following Accounting Period (in addition to the amount of Minimum Rent payable with respect to such Accounting Period, as adjusted pursuant to this paragraph (b)) the amount by which Minimum Rent for the preceding Accounting Period, as adjusted for such disbursement on a per diem basis, exceeded the amount of Minimum Rent paid by Tenant for such preceding Accounting Period.

Appears in 2 contracts

Samples: Lease Agreement (Prime Hospitality Corp), Lease Agreement (Candlewood Hotel Co Inc)

ADJUSTMENTS OF MINIMUM RENT FOLLOWING DISBURSEMENTS. UNDER SECTIONS 5.1.3(B5.1.3 (b), 10.2.3 AND or 11.2. Effective on the date of each disbursement to pay for the cost of any repairs, maintenance, renovations or replacements pursuant to Sections 5.1.3(bSECTIONS 5.1.3 (b), 10.2.3 or 11.2, the annual Minimum Rent shall be increased by a per annum PER ANNUM amount equal to the Disbursement Rate times the amount so disbursed. If any such disbursement is made during any month on a day other than the first Business Day of an Accounting Perioda Fiscal Month, Tenant shall pay to Landlord on the first Business Day of the immediately following Accounting Period Fiscal Month (in addition to the amount of Minimum Rent payable with respect to such Accounting PeriodFiscal Month, as adjusted pursuant to this paragraph (b)) the amount by which Minimum Rent for the preceding Accounting PeriodFiscal Month, as adjusted for such disbursement on a per diem basis, exceeded the amount of Minimum Rent paid by Tenant for such preceding Accounting PeriodFiscal Month.

Appears in 2 contracts

Samples: Lease Agreement (Hospitality Properties Trust), Stock Purchase Agreement (Hospitality Properties Trust)

ADJUSTMENTS OF MINIMUM RENT FOLLOWING DISBURSEMENTS. UNDER SECTIONS 5.1.3(B5.1.2(b), 10.2.3 AND 11.2. Effective on the date of each disbursement to pay for the cost of any repairs, maintenance, renovations or replacements pursuant to Sections 5.1.3(bSECTIONS 5.1.2(b), 10.2.3 or OR 11.2, the annual Minimum Rent shall be increased by a per annum PER ANNUM amount equal to the Disbursement Rate times the amount so disbursed. If any such disbursement is made during any calendar month on a day other than the first Business Day of an Accounting Periodsuch calendar month, Tenant shall pay to Landlord on the first Business Day of the immediately following Accounting Period calendar month (in addition to the amount of Minimum Rent payable with respect to such Accounting Periodcalendar month, as adjusted pursuant to this paragraph (bc)) the amount by which Minimum Rent for the preceding Accounting Periodcalendar month, as adjusted for such disbursement on a per diem basis, exceeded the amount of Minimum Rent paid by Tenant for such preceding Accounting Periodcalendar month.

Appears in 1 contract

Samples: Lease Agreement (Five Star Quality Care Inc)

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ADJUSTMENTS OF MINIMUM RENT FOLLOWING DISBURSEMENTS. UNDER SECTIONS 5.1.3(B), 10.2.3 AND 11.2. Effective on the date of each disbursement to pay for the cost of any repairs, maintenance, renovations or replacements pursuant to Sections 5.1.3(bSECTIONS 5.1.3(B), 10.2.3 or OR 11.2, the annual Minimum Rent shall be increased by a per annum PER ANNUM amount equal to the Disbursement Rate times the amount so disbursed. If any such disbursement is made during any month on a day other than the first Business Day of an Accounting Period, Tenant shall pay to Landlord on the first Business Day of the immediately following Accounting Period (in addition to the amount of Minimum Rent payable with respect to such Accounting Period, as adjusted pursuant to this paragraph (b)) the amount by which Minimum Rent for the preceding Accounting Period, as adjusted for such disbursement on a per diem basis, exceeded the amount of Minimum Rent paid by Tenant for such preceding Accounting Period.

Appears in 1 contract

Samples: Lease Agreement (Sholodge Inc)

ADJUSTMENTS OF MINIMUM RENT FOLLOWING DISBURSEMENTS. UNDER SECTIONS 5.1.3(B5.1.2(b), 10.2.3 AND 11.2. Effective on the date of each disbursement to pay for the cost of any repairs, maintenance, renovations or replacements pursuant to Sections 5.1.3(bSECTIONS 5.1.2(b), 10.2.3 or OR 11.2, the annual Minimum Rent shall be increased by a per annum PER ANNUM amount equal to the Disbursement Rate times the amount so disbursed. If any such disbursement is made during any month on a day other than the first Business Day of an Accounting Period, Tenant shall pay to Landlord on the first Business Day of the immediately following Accounting Period (in addition to the amount of Minimum Rent payable with respect to such Accounting Period, as adjusted pursuant to this paragraph (bc)) the amount by which Minimum Rent for the preceding Accounting Period, as adjusted for such disbursement on a per diem basis, exceeded the amount of Minimum Rent paid by Tenant for such preceding Accounting Period.

Appears in 1 contract

Samples: Master Lease Agreement (Five Star Quality Care Inc)

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