AMOUNT OF MINIMUM RENT Sample Clauses

AMOUNT OF MINIMUM RENT. Yearly Rent for the calendar year 2006 is Four Hundred Eight Thousand ($408,000.00) Dollars. Rent payments due hereunder are payable in monthly installments of Thirty-four Thousand ($34,000.00) Dollars (“Minimum Monthly Rent”) due in advance, on the first (1st) day of each month beginning on the Rent Commencement Date and continuing thereafter during the Term hereof, without demand, prior notice, set-off, deduction or abatement whatsoever. Yearly Rent for the initial year and the year in which the Term of this Lease shall terminate shall be pro rated under this Lease. Commencing on the 1st day of January next following the Rent Commencement Date and on each January 1 thereafter (each such date a “Rent Adjustment Date”) the Minimum Monthly Rent then in effect shall be increased or decreased by a percentage equal to the percentage increase in the Index published for the month, which is four (4) months prior to the Rent Adjustment Date compared to the Index published for the month, which is sixteen (16) months prior to such Rent Adjustment Date. The Index refers to the Consumer Price Index published by the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index, Sub-group “All Items” entitled “All Urban Consumers”, “United States City Average (1982 – 1984 = 100)”. If the publication of the Consumer Price Index of the U.S. Bureau of Labor Statistics is discontinued, comparable statistics on the purchasing power of the consumer dollar published by a responsible financial periodical mutually acceptable to Landlord and Tenant shall be used for making such computations.
Sample 1Sample 2
AutoNDA by SimpleDocs
AMOUNT OF MINIMUM RENT. Tenant shall pay a rent pursuant to the following schedule, plus applicable sales or similar use or excise tax: LEASE YEARS ANNUAL RENT MONTHLY INSTALLMENT ----------- ----------- ------------------- 1 $430,500.00 $35,875.00 The Annual Rent (and, consequently, the Monthly Installments thereof) for each of Lease Year's two (2) through ten (10), inclusive, shall be increased by multiplying the Annual Rent for the immediately preceding Lease Year by 1.03 or by applying the Annual Rent CPI adjustment as follows to the immediately preceding Lease Year, whichever results in the greater Annual Rent from Lease Year to Lease Year: Annually, the rent shall be adjusted (if such adjustment results in rent greater than the immediately preceding Lease Year's rent multiplied by 1.03) in accordance with the Consumer Price Indexes for all Urban Consumers, U.S. City Average, All Items (unadjusted) (1982 - 1984 = 100) using the table entitled, "All Urban Consumers", published by the U.S. Department of Labor, Bureau of Labor Statistics, and first so published in 1988, and commonly referred to as the Consumer Price Index (CPI). The first calendar month of the first Lease Year of the original term shall be deemed the "Base Month" for the purposes hereof. The monthly rent (and, consequently, the Annual Rent) for each Lease Year of this Lease subsequent to the first Lease Year of this Lease shall be adjusted and the same shall be computed by multiplying the rent for the "Base Month" by a fraction, the numerator of which is the said CPI for the last month of the preceding year of this Lease and the denominator of which is the said CPI for the "Base Month". If the publication of said CPI is discontinued, then the parties shall, in good faith, agree on a suitable substitute. The adjustment resulting in the greater rent annually shall be the adjustment which applies, so that the adjustment may alternate from Lease Year to Lease Year depending on which yields the greater rent to Landlord for any given Lease Year. The Annual Rent shall be paid in monthly installments in lawful money of the United States in advance on the first day of each month during the term (and if necessary, prorated for any fractions of a month). Rent and additional rent shall be payable without demand, prior notice, set-off, deduction or abatement whatsoever.
Sample 1

Related to AMOUNT OF MINIMUM RENT

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Minimum Rental Beginning with the Commencement Date and continuing through the Expiration Date or earlier termination of this Lease, Tenant shall pay Minimum Rental in accordance with the schedule set forth in Section 1(g) in equal monthly installments each in advance on or before the first day of each month. If the Commencement Date is a date other than the first day of a calendar month, the Minimum Rental shall be prorated daily from such date to the first day of the next calendar month and paid on or before the Commencement Date.

  • Percentage Rent Any percentage rents due or paid under any of the Leases (“Percentage Rent”) shall be prorated between Buyer and Seller outside of Closing as of the Close of Escrow on a Lease-by-Lease basis, as follows; (a) Seller shall be entitled to receive the portion of the Percentage Rent under each Lease for the Lease Year in which Closing occurs, which portion shall be the ratio of the number of days of said Lease Year in which Seller was Landlord under the Lease to the total number of days in the Lease Year, and (b) Buyer shall receive the balance of Percentage Rent paid under each Lease for the Lease Year. As used herein, the term “Lease Year” means the twelve (12) month period as to which annual Percentage Rent is owed under each Lease. Upon receipt by either Buyer or Seller of any gross sales reports (“Gross Sales Reports”) and any full or partial payment of Percentage Rent from any tenant of the Property, the party receiving the same shall provide to the other party a copy of the Gross Sales Report and a check for the other party’s prorata share of the Percentage Rent within five (5) days of the receipt thereof. In the event that the Tenant only remits a partial payment, then the amount to be remitted to the other party shall be its prorata share of the partial payment. Nothing contained herein shall be deemed or construed to require either Buyer to Seller to pay to the other party its prorata share of the Percentage Rent prior to receiving the Percentage Rent from the Tenant, and the acceptance or negotiation of any check for Percentage Rent by either party shall not be deemed a waiver of that party’s right to contest the accuracy or amount of the Percentage Rent paid by the Tenant.

  • Base Rent Abatement Provided that no Event of Default is then occurring, then during the period beginning on the Expansion Commencement Date and ending on November 14, 2010 (the “Base Rent Abatement Periods”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the 6310 Initial Premises for such Base Rent Abatement Period (the “Base Rent Abatement”). Tenant acknowledges and agrees that notwithstanding such Base Rent Abatement, such abatement of Base Rent shall have no effect on the calculation of any future increases in Base Rent, Operating Expenses or Tax Expenses payable by Tenant pursuant to the terms of the Lease (as hereby amended), which increases shall be calculated without regard to such abatement of Base Rent or corresponding abatement periods. Such Base Rent Abatement has been granted to Tenant as additional consideration for entering into this First Amendment, and for agreeing to pay the “rent” and performing the terms and conditions otherwise required under the Lease, as amended. Notwithstanding anything to the contrary set forth in this Section 4.3, to the extent an Event of Default is then occurring, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Base Rent abated hereunder during the Base Rent Abatement Period, with interest as provided pursuant to the Lease from the date such Base Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of the Base Rent Abatement as of such Event of Default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the entire Premises in full.

  • Monthly Rent The rent payable pursuant to Paragraph 5.A., as adjusted from time to time pursuant to the terms of this Lease.

  • 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 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 and Additional Rent Tenant shall pay to Landlord the following amounts as rent for the Premises:

  • Lease Year Lease Year" means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

Time is Money Join Law Insider Premium to draft better contracts faster.