Base Rent Rate Sample Clauses

Base Rent Rate. $18.10 per square foot. The Base Rent Rate shall be increased on each anniversary date of the Commencement Date by the increase in CPI. As used herein, “Rent” shall mean the Base Rent plus all other items of Additional Rent and all other charges due from Tenant hereunder.
Sample 1Sample 2
Base Rent Rate. Notwithstanding anything contained in this Lease to the contrary, Landlord and Tenant acknowledge and agree that the Annual Base Rent for the first Lease Year shall be derived from a formula consisting of an 8.5% rate of return on a guaranteed maximum price (“GMP”) of Landlord’s total direct and indirect costs to acquire, complete and “Finance” the Project. Such costs shall include, without limitation; the ground lease at the capitalized value set forth below; the cost to relocate current tenants on such Property (such relocation costs included in the GMP Budget not to exceed $375,000); demolishing current improvements on the Property; preparing the Property for construction; financing and completing the other Landlord Improvements, including the Parking Garage. “Finance” shall mean all loan costs, including loan origination fees, interest, points, escrow and recording fees, appraisals, lender title policies, lender required third party construction fund management fees and other customary lender fees or costs charged in association with the financing the construction loan and the “Construction Loan Take Out Financing” (as defined below). In addition, the GMP shall include a developer management fee of 6.0% on all components of the GMP Budget, including all Tenant Improvements completed with use of the funds expended from the Tenant Improvement. Deposit Control Account, but excluding the capitalized value of the ground lease and the tenant relocation costs. The estimated itemized Project Budget is attached hereto as Exhibit E (the “GMP Budget”) and lists the categories and estimated total costs, prices and calculations used to determine the estimated Initial Annual Rent, and the management fees. For purposes of determining the Property acquisition cost of the ground leasehold in GMP Budget, the parties agree the capitalized value is Three Million, Three Hundred and Thirty Five Thousand Dollars and 00/100 ($3,335,000).
Sample 1Sample 2
Base Rent Rate. The initial MAG for the Premises is as follows: Until the time when electrical service to the premises is metered correctly, the monthly payment due the Airport will be increased by $1,000 per month. No later than January 31st annually, the xxxxxx agrees to pay to the Martha’s Vineyard Airport (“Airport”), the stipulated sum of ten percent (10%) of its Gross Revenues (all income excluding tips) of the previous calendar year, when that 10% amount is greater than the MAG of the previous calendar year.
Sample 1
Base Rent Rate. The initial MAG for the Premises is as follows: First Agreement Year Minimum Annual Guarantee (MAG): $36,500.00 or $ Second Agreement Year MAG: $37,960.00 or $ Until the time when electrical service to the premises is metered correctly, the monthly payment due the Airport will be increased by $1,000 per month. No later than the 10th of each month, a statement of the prior months Gross Revenue must be received by The Airport. No later than April 15th, 2021, 2022, 2023, 2024 and October 15, 2025, the Concessionaire agrees to pay to the Martha’s Vineyard Airport (“Airport”), an additional three percent (3%) of its Gross Revenues from $300,000 to $500,000 and five percent (5%) of its Gross Revenues over $500,000 for the previous 12 month period, and the final 6 month period – April 1 – September 30, 2025 (as defined in the Concession Agreement).
Sample 1
Base Rent Rate. The initial Base Rent Rate for the Premises is as follows: Year 1 - 2,500 Square feet @ $##.##/SF, $##,###.## annually; Year 2 - 2,500 Square feet @ $##.##/SF, $##,###.## Annually Year 3 - 2,500 Square Feet @ $##,##/SF, $##,###.## Annually
Sample 1
Base Rent Rate. Tenant covenants and agrees to pay to Landlord, as rental for the Premises an “Annual Base Rental” in an amount equal to twelve (12) multiplied by the “Monthly Base Rental” as follows: $30,000 per month for months 1 through 12, $30,600 for months 13 through 24, $31,212 for months 25 through 36, $31,836.24 for months 37 through 48, $32,472.96 for months 49 through 60 payable in advance in monthly installments on the first day of each full calendar month during the term, the first such payment to include rent prorated on a daily basis for the period, if any, from the date of the Commencement Date to the first day of the first full calendar month in the term. The Parties acknowledge and agree that the Monthly Base Rental was calculated based upon 25,000 rentable square feet in the Property. The parties acknowledge and agree for purposes of this Lease that the rentable square footage of the Property is 25,000 square feet regardless of the actual rentable square footage of the Property.
Sample 1
Base Rent Rate. Tenant covenants and agrees to pay to Landlord, as rental for the Premises an “Annual Base Rental” in an amount equal to twelve (12) multiplied by the “Monthly Base Rental” as follows: $30,000 per month for months 1 through 12, $30,600 for months 13 through 24, $31,212 for months 25 through 26, $19,270 for months 27 through 36, $19,655 for months 37 through 48, $20,000 for months 49 through 60, $20,400 for months 61 through 73 payable in advance in monthly installments on the first day of each full calendar month during the term, the first such payment to include rent prorated on a daily basis for the period, if any, from the date of the Commencement Date to the first day of the first full calendar month in the term. The Parties acknowledge and agree that the Monthly Base Rental was calculated based upon 25,000 rentable square feet in the Property. The parties acknowledge and agree for purposes of this Lease that the rentable square footage of the Property is 25,000 square feet regardless of the actual rentable square footage of the Property.
Sample 1
Base Rent Rate. The Base Rent for the -------------- Additional Premises shall be paid by Tenant in addition to and not in lieu of, the other payments due under the Lease, and shall be as follows: Annual Monthly Term/Period Base Rent Base Rent Base Rent ---------------------------------------- --------- ----------- ---------- January 1, 1997 (First Expansion $24.50 $333,420.50 $27,785.04 Premises) - April 1, 1997 $24.50 $500,167.50 $41,680.63 (Second Expansion Premises) - December 31, 1997 January 1, 1998 - December 31, 1998 $24.87 $507,670.01 $42,305.83 January 1, 1999 - December 31, 1999 $25.24 $515,336.86 $42,944.74 January 1, 2000 - September 6, 2000 $25.62 $523,003.71 $43,583.64 Such amounts shall be paid at the time and in the manner Base Rent is paid under the Original Lease, except that the Increase Multiplier provisions of Paragraph 2(c) of the Original Lease do not apply.
Sample 1

Related to Base Rent Rate

  • Base Rent Purchaser will receive a credit at Closing for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

  • Rental Rate The Lessee shall pay rent to the Lessor for the premises at the following rate: Payment shall be made at the end of each month upon submission of properly executed vouchers.

  • Base Rent Adjustment The Base Rent payable hereunder shall be adjusted upward from time to time in accordance with the following provisions: (a) Tenant shall pay to Landlord as an adjustment to Rent, an amount equal to the excess (the “Excess”) from time to time of total annual Operating Expenses per square foot of Rentable Area of the Premises, as Grossed-Up, over and above the Expense Stop. The Excess shall be obtained by multiplying (i) the difference between the annual Operating Expense per square foot of Rentable Area in the Premises and the Expense Stop, by (ii) the total Rentable Area of the Premises as set forth in Section 1.15. Such amount shall be paid in advance in monthly installments on the same dates as Base Rent is due and payable hereunder based on Landlord’s notice delivered to Tenant from time to time setting forth Landlord’s good faith estimate of the Operating Expenses for the current calendar year. Landlord shall have the right to adjust such amount no more than once a year to reflect any changes in Landlord’s estimate of Operating Expenses. (b) By April 1 of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall furnish to Tenant a statement (“Actual Statement”) of Landlord’s annual Operating Expenses, as Grossed-Up, for the previous calendar year. If for any calendar year the amounts collected from Tenant for the prior year, as a result of Landlord’s estimate of Operating Expenses, exceeds the amount of the Excess actually due during such prior year, then Landlord shall refund to Tenant any overpayment (or at Landlord’s option, apply such amount against Rent due or to become due hereunder). Likewise, Tenant shall pay to Landlord, on demand, any underpayment with respect to the prior year. (c) In the event of any good faith dispute as to the amount of the Excess as set forth in the statement of actual Operating Expenses, Tenant shall have the right, no more frequently than once per calendar year, after reasonable notice to Landlord and at reasonable times, to inspect and photocopy Landlord’s Operating Expenses records at Landlord’s offices. If, after such inspection and photocopy, Tenant continues, in good faith, to dispute the amount of the Excess as set forth in said statement, Tenant shall be entitled not later than one (1) year following Tenant’s receipt of an Actual Statement to retain a national, independent, certified public accountant who is not contracted on a contingency fee basis and is mutually acceptable to Landlord and Tenant to audit Landlord’s Operating Expenses records with respect to the calendar year covered by Actual Statement to determine the proper amount of the Excess. Landlord shall be entitled to review the results of such audit promptly after completion of same. If such audit proves that Landlord has overcharged Tenant, then within fifteen (15) days after the results of the audit are made available to Landlord, Landlord shall credit Tenant the amount of such overcharge toward the payments of Base Rent and Additional Rent next coming due under this Lease. If the results of such audit prove that Landlord has undercharged Tenant, then within fifteen (15) days after the results of the audit are made available to Tenant, Tenant shall pay to Landlord the amount of any such undercharge. Tenant agrees to pay the cost of such audit, provided that Landlord shall reimburse Tenant the amount of such cost if the results of such audit prove that Landlord’s determination of the Excess (as set forth in the Actual Statement) was in error by more than six percent (6%). If Tenant does not request an audit in accordance with the provisions of this Section 6(c) within one (1) year after Tenant’s receipt of an Actual Statement, such Actual Statement shall be conclusively binding upon Tenant. Landlord shall be required to maintain records of all Operating Expenses for three (3) years following the issuance of the Operating Expense statement for such Operating Expenses. The payment by Tenant of any amounts pursuant to this Article shall not preclude Tenant from questioning the correctness of any such statement.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Monthly Rent a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

  • Base Rental 4.1 Tenant shall pay to Landlord annual rent during the Initial Term of this Lease in the amount of Thirty-Five Thousand One Hundred and Sixty Dollars and 00/100 Dollars ($35,160) ("Base Rent"), which shall be paid in equal consecutive monthly installments of One Thousand Four Hundred and Sixty-Five Dollars and 00/100 Dollars ($1,465.00) and a prorated portion for any partial calendar month. Installments of rent shall be paid on the first day of each calendar month in advance. 4.2 In the event that Tenant exercises its right to a Renewal Term, the Base Rent payable during the Renewal Term (and the Base Building Expense figure), as specified in Section 4.1 for Base Rent and Section 5.1 for Base Building Expense, shall be adjusted as of the first day of each Renewal Term (the "First Adjustment Date") by the percentage increase in the Consumer's Price Index for all Urban Consumers specified for All Items, All Cities (1982-1984=100) and issued by the Bureau of Labor Statistics of the United States Department of Labor, or any replacement thereof (the "Index"). The increased annual Base Rent shall be equal to the annual Base Rent payable for the year preceding the Adjustment Date multiplied by a fraction, the numerator of which is the Index for the second calendar month immediately preceding the Adjustment Date and the denominator is the Index for the second calendar month one year preceding. In no event shall the Base Rent be decreased. Notwithstanding the foregoing, the increase in Base Rent for any one Renewal Term shall not be greater than five percent (5%). 4.3 All rent shall be paid to Landlord at the address set forth herein or at such other address as Landlord may designate in writing, without any prior demand therefore and without any deduction or offset whatsoever. 4.4 In the event that Tenant shall fail to pay any amount under this Lease when the same shall be due, such amount shall be subject to a one-time late charge of five cents (.05(cent)) for each One Dollar ($1.00) not paid when due and thereafter shall be subject to a service charge until such amount is paid at the lesser of the rate of two percent (2%) per month or the highest rate permitted by law.

  • Rental Rates Schedules for (i) proposed rental rates on heavy construction equipment, and (ii) proposed wage rates of operating engineers. The Design-Builder firm shall certify that the proposal for rental rates and proposal for wage rates comply with the Contract Documents.

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5. The Minimum Monthly Rent shall be increased as set forth in Section 1.5 and/or elsewhere in this Lease. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, and before the Commencement Date, Tenant shall pay to Landlord the aggregate of the first month’s Minimum Monthly Rent, the first month’s Monthly Impound Payment (see Section 4.4), and the Security Deposit (see Section 5).

  • Annual Base Rent Commencing on the Rent Commencement Date, and thereafter during the Term, Tenant shall pay annual base rent in the amounts set forth immediately below (the "Annual Base Rent"), which amounts shall be payable in equal monthly installments (the "Monthly Base Rent") as set forth immediately below: All installments of Monthly Base Rent shall be payable in advance, on the Rent Commencement Date and the first day of each calendar month thereafter during the Term. If the Rent Commencement Date shall be a day other than the first day of a calendar month, (1) the Annual Base Rent for the first Lease Year shall be an amount equal to the sum of (x) the amount of Monthly Base Rent for the partial month in which the Rent Commencement Date occurs, plus (y) the amount of the Annual Base Rent for the first Lease Year set forth in the rent chart above, and (2) Monthly Base Rent for such partial month shall be the prorated amount of the Monthly Base Rent payable hereunder during the first Lease Year, which proration shall be based upon the actual number of days of such partial month. The prorated Monthly Base Rent for such partial month shall be payable on the first day of the calendar month after the month in which the Rent Commencement Date occurs. As used in this Lease, the term "Lease Year" means (A) with respect to the first Lease Year, the twelve (12) full calendar month period commencing on the Rent Commencement Date (plus the number of days in any partial first month if the Rent Commencement Date is not the first day of the month), except that if the Rent Commencement Date is a date earlier than May 1, 2012, then the first Lease Year shall commence on the Rent Commencement Date and shall expire on April 30, 2013, and (B) with respect to the second Lease Year and each subsequent Lease Year thereafter, each successive period of twelve (12) full calendar months following the expiration of the first Lease Year.

  • Rent Adjustment Basic Assumptions Incorrect. Except to the extent that doing so would cause Lessor to recognize income other than "rents from real property" as defined in Section 856(d) of the Code, notwithstanding anything herein (other than Article 19) to the contrary, if (i) the facts and circumstances underlying the documented, basic assumptions upon which both Lessor and Lessee have relied in determining the Base Rent, the Suite Revenue Breakpoint, and the Percentage Rent payable hereunder become materially incorrect solely as a result of (A) a decision to re-brand the Hotel that is made after the Commencement Date, (B) the scope or cost of substantial renovations or other capital improvements to the Hotel, or (C) the implementation of any other hotel repositioning strategies (that were not planned as of the Commencement Date) resulting in significant disruption of the operations of the Hotel (collectively, a "Repositioning"), and (ii) Lessor and Lessee so agree in writing, then Lessor and Lessee shall, in good faith, negotiate modifications to the Base Rent, Suite Revenue Breakpoint and Percentage Rent to adjust (i.e., increase, decrease or reallocate among revenue categories) such Base Rent, Suite Revenue Breakpoint and Percentage Rent to reflect such change in basic assumptions for the affected periods, using the same methodology and other basic assumptions as were initially utilized in determining the Base Rent, Suite Revenue Breakpoint and Percentage Rent hereunder. If Lessor and Lessee are unable to agree, within thirty (30) days after the date of written certification from either Lessee or Lessor to the other party that a good faith dispute exists, as to the existence of the occurrence of a Repositioning or the adjustments to be made to the amounts or percentages for the Base Rent, Suite Revenue Breakpoint and Percentage Rent hereunder as a result of any repositioning, the dispute may be submitted by either party to arbitration under Section 25.2 hereof for resolution (during which period Lessee shall continue to pay Base Rent and Percentage Rent as required under Section 3.1 of this Lease); provided, however, that for purposes of applying the procedures in Section 25.3 to such arbitration, the target deadline therein for concluding the arbitration shall be shortened from ninety (90) days to thirty (30) days.