Annual Lease Amount Sample Clauses

Annual Lease Amount. In consideration of the lease of the Site and the rights appurtenant thereto in favor of the Concessionaire, the Concessionaire shall, during the Concession Period, in terms of this Agreement, make payments to NFDB with respect to the Annual Lease Amount. The Annual Lease Amount to be paid by the Preferred Bidder for the first year of Concession is Rs.11.00 Lakhs (Rupees Eleven Lakhs only). The ‘Annual Lease Amount’ shall be escalated at the rate of Ten Percent (10%) for every 3 Years during the Concession Period. The Annual Lease Amount shall be paid in advance in monthly installments, by the 10th day of every month during each Accounting Year of the Concession Period in accordance with Lease Amount Payment Schedule attached as Appendix 9. An amount of Rs. 5.50 Lakhs (Rupees Five Lakhs and Fifty Thousand only) equivalent to the first Six (6) Months Annual Lease Amount (computed on the basis of the Annual Lease Amount payable in the first year of Concession) of the Concession Period, has been deposited by the Preferred Bidder/ Concessionaire, with the Grantor / Authority within 15 Days of issue of LoA and prior to the Execution Date, as an interest free security deposit. Further, towards the security for the due payment of the Annual Lease Amount during the Concession Period, the payment of the subsequent Lease Amounts shall be made on monthly basis to be paid in advance by the 10th day of every month for the entire Concession Period. The Concessionaire shall ensure that it maintains, at all times during the Concession Period, a deposit with the Grantor / Authority of an amount equal to six (6) Months advance Lease Amount calculated on the basis of applicable Annual Lease Amount for that particular year (“Security Deposit”). These Security Deposits (Advance Lease Amount) shall be returned to the Concessionaire, without any interest thereon, within three (3) Months from the Transfer Date, after adjusting dues of the Concessionaire if any to the Grantor / Authority or towards any payment obligations pertaining to the Project, like power, water, maintenance etc. In the event of delay up to 15 Days from the due date (10th day of the Month) in the payment of the Lease Amounts, the Concessionaire shall be liable to pay to the Grantor / Authority, interest on the due amount at the rate of 18% (Eighteen percent) per annum, for the period from the due date until the date of actual payment. In the event, the payments are delayed beyond a period of 15 Days from the d...
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Related to Annual Lease Amount

  • Annual Allowance The Corporation shall pay to the Executive, in cash, in a lump sum, on the Payment Date an amount equal to two times the annual allowance to which the Executive is entitled as of the date of the Date of Termination (or, if higher, as of immediately prior to the Effective Date).

  • Lease Period The lease period of the Finance Lease Agreement I is 36 months, which commenced on October 28, 2022. The lease period of the Finance Lease Agreement II is 36 months, which shall commence on July 31, 2023.

  • Vehicle Allowance (a) Vehicle allowance for all kilometres travelled on the Employer’s business shall be paid to employees who are required to use their own vehicles in the performance of their duties.

  • TERMINATION ALLOWANCE In the event of closure of all or part of the Employer’s retail store, which results in the permanent lay-off of any employees, the employer agrees to pay each employee so affected, in accordance with Company policy, the following: • Less than one (1) completed year of service: according to Employment Standards (if any). • A year or more but less than five (5) completed years of service: one (1) week’s pay for each completed year of service. • More than five (5) completed years of service: five (5) weeks for the first five (5) years of service plus one and a half (1.5) weeks per completed year of service for each subsequent year up to a maximum of thirty (30) weeks in total.

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • Shoe Allowance The Employer will provide reimbursement to full time employees who have completed probation and who are employed in the kitchen and stewarding departments, once per year in the amount of $60.00 and once every two years in the amount of $60.00 for maintenance and banquet housepersons. The amount shall increase to $75, effective January 1, 2007. Employees will receive said amount as long as the shoes are approved by the employer and as long as the shoes are worn on the job. Payment will be made on or about July 1 upon presentation of proof of purchase.

  • Overtime Meal Allowance ‌ An employee who works two and one-half hours of overtime immediately before or following his/her scheduled hours of work shall receive a meal allowance of seven dollars. One-half hour with pay shall be allowed the employee in order that he/she may take a meal break either at or adjacent to his/her place of work.

  • Relocation Allowance An employee who is promoted and required by agency policy to relocate his residence shall be granted time off with pay for one workday for this purpose. In addition, the employee shall be granted travel time to the new location based on the most direct route. No employee will be credited with more than the number of hours in the employee’s regular workday and such time shall not be counted as hours worked for the purpose of computing compensatory time or overtime.

  • 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:

  • 000 VACATION ALLOWANCE 19.100 Vacation Pay will be in accordance with vacation pay rates established in the attached Maintenance Wage, Benefit and Overtime Schedule.

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