Adjustments to Annual Minimum Rent Sample Clauses
The "Adjustments to Annual Minimum Rent" clause defines how and when the base rent amount paid by a tenant may be modified during the lease term. Typically, this clause outlines specific intervals—such as annually or every few years—when the rent may increase, often based on a fixed percentage, a cost-of-living index, or other predetermined criteria. By establishing a clear mechanism for rent adjustments, this clause ensures that the landlord’s rental income keeps pace with inflation or market changes, while providing both parties with predictability regarding future rent obligations.
Adjustments to Annual Minimum Rent. Commencing on the first anniversary of the Effective Date (in each instance, the “First Adjustment Date”) and recurring as set forth on Exhibit F attached hereto (each an “Adjustment Date”), the Annual Minimum Rent shall be adjusted as set forth on Exhibit F attached hereto.
Adjustments to Annual Minimum Rent. Annual Minimum Rent shall be adjusted as of the sooner to occur of (i) the first day of the first month following the third anniversary of the filing of the Notice of Completion, and (ii) May 1, 2001; thereafter, Annual Minimum Rent shall be adjusted as of the third anniversary of each adjustment date. Until the Renegotiation Date provided in Section 4.4 hereof, the Annual Minimum Rent shall be adjusted as of each adjustment date to the amount which equals seventy five percent (75%) of the average of the total annual rent due (including Monthly Minimum Rent and Percentage Rent) from Concessionaire to County under Section 4.2 of this Agreement during the thirty six (36) month period immediately preceding the adjustment; provided, however, that (a) in no event shall any adjustment of Annual Minimum Rent pursuant to this Section 4.3 result in a decrease in Annual Minimum Rent payable by Concessionaire to County, and (b) the aforementioned thirty six (36) month period shall be adjusted to exclude any portion of the Term in which the Monthly Minimum Rent is the sum of Seventy Two Thousand Nine Hundred Sixteen and 66/100 Dollars ($72,916.66) per month as provided in subsection 4.2.1.
Adjustments to Annual Minimum Rent. Effective upon the GMR Commencement Date, the Annual Minimum Rent shall be adjusted to equal the GMR for the GMR Commencement Date. Effective as of each Adjustment Date following the GMR Commencement Date (until the First Renegotiation Date), the Annual Minimum Rent shall be adjusted on an annual basis to equal the greater of the GMR for such Adjustment Date or the Annual Minimum Rent in effect under this Subsection 4.3.2 for the year immediately preceding such Adjustment Date.
Adjustments to Annual Minimum Rent. As of the First Adjustment Date and every three (3) years thereafter until the first Renegotiation Date, and thereafter each third (3rd), sixth (6th) and ninth (9th) anniversary of each Renegotiation Date (each an “Adjustment Date” and collectively the “Adjustment Dates”), the Annual Minimum Rent shall be adjusted as provided in this Section 4.3. The Annual Minimum Rent shall be adjusted as of each Adjustment Date to the amount which equals seventy five percent (75%) of the average of the total Annual Rent payable by Lessee to County each year under Section 4.2 of this Lease during the three (3) year period immediately preceding the Adjustment Date; provided, however, that the Annual Minimum Rent shall be never be reduced to less than the Annual Minimum Rent in effect immediately prior to the then-applicable Adjustment Date.
Adjustments to Annual Minimum Rent. As of the third anniversary of the First Adjustment Date, and every three (3) years thereafter until the First Renegotiation Date, and thereafter each third (3rd), sixth (6th) and ninth (9th) anniversary of each Renegotiation Date (each an “Adjustment Date” and collectively the “Adjustment Dates”), the Annual Minimum Rent shall be adjusted to the amount which equals seventy five percent (75%) of the average of the total Annual Rent payable by Lessee to County each year under Section 4.2 of this Lease during the three (3) year period immediately preceding the Adjustment Date; provided, however, that the Annual Minimum Rent shall be never be reduced to less than the Annual Minimum Rent in effect immediately prior to the then-applicable Adjustment Date.