Base Percentage Rent Sample Clauses

Base Percentage Rent. Subject to Section 6.2(m) below and this Section 6.2(c), with respect to those Leases pursuant to which tenants pay rent based on a percentage of sales rather than any fixed, minimum or base rent ("Base Percentage Rents"), Seller shall be entitled to such Base Percentage Rents which are due or past due or not yet due but accrued under the terms of the Leases, prior to, and prorated as of the Closing Date. Purchaser shall be entitled to all Base Percentage Rents accruing and prorated from and after the Closing Date. The parties acknowledge that Base Percentage Rents for a particular month are based on the actual sales for such month, but are not actually payable until after the end of such month. Therefore, if the Closing occurs on May 31, 2000, Seller shall be entitled to the Base Percentage Rent calculated on the basis of any applicable tenant's sales for the entire month of May, even though such Base Percentage Rent may not be due until mid or late June. Seller shall receive a credit at Closing for its share of any Base Percentage Rents that are calculated on the basis of sales occurring during the month in which the Closing Date occurs and for any Base Percentage Rents that are calculated on the basis of sales occurring during any prior month that is due in the month in which the Closing Date occurs, and Purchaser shall receive a credit at Closing for its share of any Base Percentage Rents that are calculated on the basis of sales occurring during the month in which the Closing Date occurs, subject in each case to readjustment as described in Section 6.2(m) below. If on the Closing Date, the sales for any applicable sales reporting period are not known, Seller and Purchaser shall reasonably estimate the amount thereof and such proration shall be based on such estimate, subject to readjustment as provided in Section 6.2(n) below. If the Closing Date occurs on a date other than the last day for a sales reporting period for any tenant, sales for such tenant shall be prorated based on a fraction, the denominator of which is the total number of days within the applicable sales reporting period in which the Closing Date occurs and the numerator of which is the number of days in such sales reporting period prior to the Closing Date.
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Base Percentage Rent 
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Related to Base Percentage Rent

  • 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.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • 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;

  • 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 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:

  • Tenant’s Percentage Share The term "Tenant's Percentage Share" shall mean 46.67% and shall be used to calculate increases in Property Taxes and Operating Expenses (as such terms are hereinafter defined) payable by Tenant. Landlord may reasonably redetermine Tenant's Percentage Share from time to time to reflect reconfigurations, additions or modifications to the Building.

  • 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.

  • Tenant’s Percentage The ratio of the Rentable Floor Area of the Premises to the total rentable area of the Building, which shall initially be deemed to be one hundred 100% percent.

  • Annual Base Rent Except as otherwise provided in this Lease, in the event of a default by Landlord, Tenant shall be entitled to any remedies available at law or in equity except for the right to terminate or rescind the Lease. It is expressly understood and agreed to between the parties that except as specifically provided in this Lease, Tenant expressly, knowingly, and voluntarily waives any right, claim, or remedy otherwise available to Tenant to terminate or rescind this Lease as a result of Landlord's default as to any covenant or agreement contained in this Lease or as a result of the breach of any promise or inducement allegedly made on behalf of Landlord, whether in this Lease or elsewhere. No act or omission of Landlord or its agents shall constitute an actual or constructive eviction of Tenant unless Landlord shall have first received written notice of Tenant's claim and shall have failed to cure it after having been afforded a reasonable time to do so, which in no event shall be less than thirty (30) days. Notwithstanding anything in this Lease to the contrary, Landlord shall never be liable to Tenant in the event of a default by Landlord or otherwise under any provision of this Lease for any loss of business or profits or other consequential damages or for punitive or special damages of any kind. None of Landlord's officers, members, managers, employees, agents, directors, shareholders, or partners shall ever have any personal liability to Tenant under or in connection with this Lease. Tenant shall look solely to Landlord's estate and interest in the Office Center for the satisfaction of any right or remedy of Tenant under this Lease, or for the collection of any judgment (or other judicial process) requiring the payment of money by Landlord, it being intended that there will be absolutely no personal liability on the part of Landlord, and no other property or assets of Landlord or its principals shall be subject to levy, execution, or other enforcement procedure for the satisfaction of Tenant's rights or remedies under this Lease, the relationship of Landlord and Tenant under this Lease, Tenant's use and occupancy of the Premises, or any other liability of Landlord to Tenant of whatever kind or nature, this exculpation of liability to be absolute and without exception whatsoever.

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