Annual Rental Adjustment Sample Clauses

Annual Rental Adjustment. Monthly rent and fees may be increased annually. 60 days notice will be given for all rent adjustments.
Sample 1
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Annual Rental Adjustment. Commencing with the first anniversary of the Effective Date, and thereafter throughout the remainder of the term of this Lease, Rent shall be adjusted each year as of the anniversary of the Effective Date by the percentage increase in the Consumer Price Index – All Urban Consumers (“CPI”) published by the U.S. Department of Labor Bureau of Labor Statistics over the CPI for the preceding twelve (12) months. If the CPI does not increase in a Lease Year, then the Rent for the subsequent Lease Year shall remain unchanged. In the event that the CPI should cease to be published, the parties shall use their best good faith efforts to agree upon a substitute index that most closely approximates the CPI in gauging changes in the cost of living for urban wage earners. The rental rate shall be rounded to the nearest one cent ($0.01). The application of the provisions of this Section 4.B is illustrated by and is intended to conform to the examples described in Exhibit E.
Sample 1
Annual Rental Adjustment. For each Option exercised, except for the Snow Season 2022-2023 Option Term, the Monthly Rent shall be increased by two percent (2%) per year (hereinafter "Adjusted Monthly Rent"). Any such adjustment shall take effect no earlier than the anniversary of the Commencement Date.
Sample 1
Annual Rental Adjustment. In addition to the base rent specified in Section 3(a) hereof, Tenant shall pay to Landlord as additional rent for the Premises, in each calendar year throughout the term of this Lease, a sum equal to Tenant's proportionate share of the increase, if any, in Landlord's Total Cost of Operation of the Buildings (as hereinafter defined) over the Base Expenses (as hereinafter defined) and Tenant's proportionate share of the increase in real estate taxes over Base Real Estate Taxes (as hereinafter defined). The amount of Tenant's proportionate share of the increase in Landlord's Total Cost of Operation of the Buildings and increase in real estate taxes for a particular calendar year over the Base Expenses and Base Real Estate Taxes (sometimes hereinafter referred to as the "Annual Rental Adjustment") shall be estimated annually by Landlord, and written notice thereof shall be given to Tenant at least thirty (30) days prior to the beginning of each calendar year (in the case of 1987, not later than March 31, 1987). Tenant shall pay each month, at the same time the monthly installment of base rent is due, an amount equal to one-twelfth (1/12) of the estimated Annual Rental Adjustment. Within ninety (90) days after the end of each such calendar year, Landlord shall prepare and deliver to Tenant a statement showing in reasonable detail the actual amount of Landlord's Total Cost of Operation of the Building and real estate taxes for the preceding calendar year and the actual amount of Tenant's Annual Rental Adjustment. Within thirty (30) days after receipt of the aforementioned statement, Tenant shall pay to Landlord, or Landlord shall remit to Tenant, as the case may be, the difference between the actual amount of Tenant's Annual Rental Adjustment for the preceding calendar year and the estimated amount paid by Tenant during such year. For purposes of this Section, the following definitions shall apply:
Sample 1
Annual Rental Adjustment. In the event Tenant remains in possession of the Premises after the expiration of this lease and without the execution of a new lease, it shall be deemed to be occupying the Premises as a tenant from month to month, subject to all the conditions, provisions, and obligations, of this Lease in so for as the same can be applicable to month-to-month tenancy cancelable by either party upon thirty (30) days written notice to the other and the rental rate shall be increased to double the last months rent.
Sample 1
Annual Rental Adjustment. As of the Effective Date and for purposes of calculating the Annual Rental Adjustment for the Premises, as amended, in accordance with Section 3.2 of the Lease, the Building Expense Percentage, as defined in Section 1.2(C) of the Lease, is amended to mean 17.70%.
Sample 1
Annual Rental Adjustment. The Annual Base Rent shall be adjusted for each calendar year during the Term hereof by Tenant’s Share of the amount of the increase in Operating Expenses for said year over the Operating Expenses for the Base Year 2007, but shall not in any event be less than the amount of the Annual Base Rent stipulated hereinabove. The Adjusted Annual Rent for any year shall serve as the basis for an estimate of the Adjusted Annual Rent to become due for the next succeeding year until the computation for said succeeding year is made. Tenant shall pay each month, at the same time the monthly Base Rent is due, an amount equal to one-twelfth (1/12th) of the estimated Annual Rent Adjustment. The Adjusted Annual Rent for the last year of the Lease Term shall be paid by Tenant in a lump sum within thirty (30) days after presentation by Landlord to Tenant of a statement of said adjustment. Landlord shall keep and make available to Tenant for a period of thirty (30) days after statements for Operating Expenses are rendered to Tenant, records, in reasonable detail, of Operating Expenses for the period covered by such statement or statements and shall permit Tenant and representatives of Tenant to examine and audit such statements at any reasonable time during business hours. If Tenant shall dispute any item or items included by Landlord in determining Operating Expenses for any given year during the Term, and such dispute is not amicably settled between Landlord and Tenant within thirty (30) days after any statement for Adjusted Annual Rent has been rendered, either party may notify the other, during the ten days next following the expiration of said thirty (30) day period, of its election to arbitrate said dispute, and then may submit said dispute for arbitration in accordance with the provisions of Section Thirty-seven hereinbelow. If Tenant shall not dispute any item or items of such statement within thirty (30) days after such statement had been rendered, Tenant shall be deemed to have approved such statement.
Sample 1
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Annual Rental Adjustment. Sec. 3.02(a) -- Definitions. For purposes of the Section 3.02, the following definitions shall apply:
Sample 1
Annual Rental Adjustment 
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Related to Annual Rental Adjustment

  • 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.

  • 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.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, (“Code”)), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers (“Effective Rate”) is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Annual Rent LESSEE covenants and agrees to pay as rent to LESSOR the sum of ($ ) per annum, on or before the Anniversary Date each year; provided, however, that the payment of rent for the first year of this lease shall be due at the time of approval by the Board of Education. The obligation of LESSEE to pay rent under this Lease Agreement is unconditional, and the rent shall not be subject to set off for any reason or cause. LESSOR and LESSEE agree that in the event of termination or cancellation, any rental payment made during the term of this Lease Agreement is not refundable, and LESSEE waives any right or claim it may have to refund of rent paid. Rents shall be readjusted periodically pursuant to the rent adjustment clause contained in Paragraph 3 of this lease. In the event LESSEE is delinquent in the payment of rent, LESSEE shall pay a late charge equal to fifteen percent (15%) of the amount of rent past due for more than 30 days and thereafter shall pay interest on any rent past due at an annual rate (the “Default Rate”) equal to the maximum rate then allowed by law or, if there is no maximum rate, then a rate equal to five percent per annum above the discount rate, excluding any surcharge thereon, on ninety-day commercial paper in effect at the Federal Reserve Bank in the Federal Reserve district in which LESSOR is located, calculated according to the actuarial method.

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