Annual Escalation of Minimum Rent Sample Clauses

Annual Escalation of Minimum Rent. Commencing on the one-year anniversary of the Commencement Date (if the Commencement Date is the first (1st) day of a calendar month, or, if not, on the first (1st) day of the first (1st) full month following the Commencement Date), and continuing on each subsequent one-year anniversary thereof during the Term (including any Extended Term) (each, an "ADJUSTMENT DATE"), the Minimum Rent (irrespective of any prorations made pursuant to SECTION 3.1(a) above) shall increase to an amount equal to the Minimum Rent for the one-year period immediately preceding the Adjustment Date multiplied by a fraction, the numerator of which shall be the C.P.I. (defined below) for the month in which the Adjustment Date occurs, and the denominator of which shall be the C.P.I. for the month that was one year prior to the Adjustment Date; provided, however, that the product of said multiplication shall not result in an increase of the Minimum Rent by more than two percent (2%) per year on a cumulative basis ("ANNUAL MULTIPLIER"). If, however, the Annual Multiplier is less than two percent (2%) on any Adjustment Date (a "LESS THAN 2% ADJUSTMENT DATE"), then at such time as the Annual Multiplier is determined for subsequent Adjustment Dates, the Minimum Rent for each Less Than 2% Adjustment Date shall be retroactively recalculated such that subsequent Annual Multipliers (whether less than or greater than 2%) shall be first applied to increase the Annual Multiplier for each Less Than 2% Adjustment Date to an amount up to, but not greater than, 2%, with such recalculations to be made in chronological order beginning with the earliest Less Than 2% Adjustment Date and continuing, so long as there is Annual Multiplier remaining, until recalculations have been made with respect to all Less Than 2% Adjustment Dates. After each such recalculation has been made, the shortfall in the Minimum Rent for the newly recalculated Less Than 2% Adjustment Dates shall be billed to Lessee and Lessee shall pay such shortfall amount to Lessor together with the next payment of Minimum Rent otherwise coming due hereunder. Such recalculations and shortfall xxxxxxxx shall be made on each Adjustment Date where there remain prior Less Than 2% Adjustment Dates which have not yet been recalculated to 2%. For purposes of example only, if the Commencement Date is June 1, 2002 and the initial Minimum Rent equals $1,020,000, and if (a) the C.P.I. increased 1.5% as of June 1, 2003, the Minimum Rent as of June 1, 2003...
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Annual Escalation of Minimum Rent. Commencing on the one-year anniversary of the Commencement Date (if the Commencement Date is the first (1st) day of a calendar month, or, if not, on the first (1st) day of the first (1st) full month following the
Sample 1
Annual Escalation of Minimum Rent. Commencing on the first day of Lease Year 1999 (to wit, September 1, 1999), and continuing on the first day of each subsequent Lease Year during the Term (the Initial Term as well as any Extended Terms) (each, an "Escalation Date"), the Minimum Rent (irrespective of any prorations made pursuant to Paragraph 3.1(a) of this Lease) shall increase by an amount equal to the Minimum Rent for the immediately preceding twelve (12) month period multiplied by an amount ("Annual Multiplier") equal to one hundred fifty percent (150%) of the following fraction: (i) the numerator of which shall be the C.P.I. (defined below) for the second month preceding the month in which such Escalation Date occurs (for example, if the Escalation Date is September 1, 1999, then the C.P.I. from July 1999 shall be used); and (ii) the denominator of which shall be the C.P.I. for
Sample 1
Annual Escalation of Minimum Rent. For purposes of this Paragraph 3.2, the "Adjusted Commencement Date" shall be the first (1st) day of the first calendar month following the Commencement Date (as defined in Paragraph 1.2 of this Lease), unless the Commencement Date falls on the first (1st) day of a calendar month, in which case the "Adjusted Commencement Date" shall be the Commencement Date. Commencing on the one year anniversary of the Adjusted Commencement Date, and continuing on each subsequent one year anniversary thereof during the Term (the Initial Term as well as any Extended Terms, but specifically excluding the first year of any such Extended Terms, for which the Minimum Rent shall be calculated as set forth in Paragraph 18.2 below) (each, an "Escalation Date"), the Minimum Rent (irrespective of any prorations made pursuant to Paragraph 3.1(a) of this Lease) shall increase by an amount equal to the Minimum Rent for the immediately preceding twelve (12) month period multiplied
Sample 1
Annual Escalation of Minimum Rent. Intentionally deleted.
Sample 1
Annual Escalation of Minimum Rent. Commencing on the one-year anniversary of the Commencement Date (if the Commencement Date is the first (1st) day of a calendar month, or, if not, on the first (1st) day of the first (1st) full month following the Commencement Date), the Minimum Rent shall increase to an annual amount of Two Million One Hundred Thousand and No/100 Dollars ($2,100,000.00), payable in advance in equal monthly installments of One Hundred Seventy Five Thousand and no/100 Dollars ($175,000.00), plus all increases in the Minimum Rent as provided in Section 3.1(b) above. Commencing on the two-year anniversary of the Commencement Date (if the Commencement Date is the first (1st) day of a calendar month, or, if not, on the first (1st) day of the first (1st) full month following the Commencement Date), the Minimum Rent shall increase to an annual amount of Two Million Five Hundred Thousand and No/100 Dollars ($2,500,000.00), payable in advance in equal monthly installments of Two Hundred Eight Thousand Three Hundred Thirty Three and 33/100 Dollars ($208,333.33), plus all increases in the Minimum Rent as provided in Section 3.1(b) above. A one time payment in an amount equal to five percent (5%) of the Incremental Gross Revenues shall be due and payable within forty five (45) days after the end of the third Lease Year.
Sample 1
Annual Escalation of Minimum Rent. Commencing on the first day of Lease Year 1999 (to wit, September 1, 1999), and continuing on the first day of each subsequent Lease Year during the Term (the Initial Term as well as any Extended Terms) (each, an "Escalation Date"), the Minimum Rent (irrespective of any prorations made pursuant to Paragraph 3.1(a) of this Lease) shall increase by an amount equal to the Minimum Rent for the immediately preceding twelve (12) month period multiplied by an amount ("Annual Multiplier") equal to one hundred fifty percent (150%) of the following fraction: (i) the numerator of which shall be the C.P.I. (defined below) for the second month preceding the month in which such Escalation Date occurs (for example, if the Escalation Date is September 1, 1999, then the C.P.I. from July 1999 shall be used); and (ii) the denominator of which shall be the C.P.I. for the second month preceding the month in which the prior year's Escalation Date occurred (or, in the case of the first Escalation Date, the C.P.I. for the month of July, 1998); PROVIDED, HOWEVER, that the Annual Multiplier shall not ever exceed two percent (2%) per year, nor shall it ever result in a decrease in the Minimum Rent payable hereunder. "C.P.I." shall mean and refer to the Consumer Price Index published as the "CPI-U" index by the Bureau of Labor Statistics of the Department of Labor, U.S. Cities Average, All Items (1982-84 = 100) in the manner calculated as of the date of this Lease; provided that if compilation of the C.P.I. is discontinued or transferred to any other governmental department or bureau, then the index most nearly the same as the C.P.I. shall be used.
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Related to Annual Escalation 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 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.

  • Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, a monthly installment of $3,284.00. Lessee shall also pay, as additional rent, all such other sums of money as shall become due from and payable by Lessee to Lessor under this Lease (Base Rental, any adjustment thereto pursuant to Section 4 hereof, and all such other sums of money due from and payable by Lessee pursuant to this Lease are sometimes hereinafter collectively called "rent"), for the nonpayment of which Lessor shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rental. The Base Rental, together with any adjustment or increase thereto then in effect, shall be due and payable in advance in twelve (12) equal installments on the first (lst) day of each calendar month during the term of this Lease, and Lessee hereby agrees so to pay such Base Rental and any adjustment or increase thereto to Lessor at Lessor's address provided herein (or such other address as may be designated by Lessor in writing from time to time) monthly, in advance, and without demand. If the term of this Lease commences on a day other than the first (lst) day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated, and the installment or installments so prorated shall be paid in advance.

  • 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.

  • 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.

  • 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.

  • 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 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.

  • 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.

  • Base Year Calendar year 2000.

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