Common use of Base Rental Payments Clause in Contracts

Base Rental Payments. The County agrees to pay to the Authority, as Base Rental Payments for the use and occupancy of the Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this Sublease) annual rental payments with principal and interest components, the interest components being payable semi-annually, in accordance with the Base Rental Payment Schedule attached hereto as Exhibit B and made a part hereof. Base Rental Payments shall be calculated on an annual basis, for each Rental Payment Period, and each annual Base Rental shall be divided into two interest components, due on December 1 and June 1, and one principal component, due on June 1, except that the first Rental Payment Period commences on the date of recordation of this Sublease and ends on [ ]. Each Base Rental Payment installment shall be payable on the fifteenth (15th) day of the month immediately preceding its due date. The interest components of the Base Rental Payments shall be paid by the County as and constitute interest paid on the principal components of the Base Rental Payments to be paid by the County hereunder, computed on the basis of a 360-day year composed of twelve 30-day months. Each annual payment of Base Rental (to be payable in installments as aforesaid) shall be for the use of the Facilities. If the term of this Sublease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December 1 and June 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this Sublease. Upon such extension of this Sublease, the County shall deliver to the Trustee a Certificate setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components of the Base Rental Payments so that the principal components will in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and to pay any Reserve Facility Costs. If at any time the Base Rental shall not have been paid by the County when due, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on the Bonds, the principal and interest components of the Base Rental shall be recalculated by the County to reflect interest on the unpaid principal components at the rate or rates specified in the Trust Agreement and to pay any Reserve Facility Costs as provided in the agreement with respect to the Reserve Facility, and a revised Exhibit B to this Sublease shall be prepared by the County and supplied to the Authority and the Trustee reflecting such reallocation.

Base Rental Payments. The County agrees to pay to the Authority, as Base Rental Payments for the use and occupancy of the Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this SubleaseFacilities Lease) annual rental payments with principal and interest components, the interest components being payable semi-annually, in accordance with the Base Rental Payment Schedule attached hereto as Exhibit B and made a part hereof. The County is hereby directed to pay all such Base Rental Payments directly to the Trustee for application as provided in the Trust Agreement. Base Rental Payments shall be calculated on an annual basis, for each Rental Payment Period, and each annual Base Rental Payment shall be divided into two interest components, due on December 1 and June 1, and one principal component, due on June 1, except that the first Rental Payment Period commences on the date of recordation of this Sublease Facilities Lease and ends on [ [May 31, 2021]. Each Base Rental Payment installment shall be payable on the fifteenth (15th) day of the month third Business Day immediately preceding its due date. The interest components of the Base Rental Payments shall be paid by the County as and constitute interest paid on the principal components of the Base Rental Payments to be paid by the County hereunder, computed on the basis of a 360-day year composed of twelve 30-day months. Each annual payment of Base Rental (to be payable in installments as aforesaid) shall be for the use of the Facilities. If the term of this Sublease Facilities Lease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December 1 and June 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this SubleaseFacilities Lease. Upon such extension of this SubleaseFacilities Lease, the County shall deliver to the Trustee a Certificate setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components of the Base Rental Payments so that the principal components will in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and to pay any Reserve Facility Coststhereon. If at any time the Base Rental shall not have been paid by the County when due, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on the Bonds, the principal and interest components of the Base Rental shall be recalculated by the County to reflect interest on the unpaid principal components at the rate or rates specified in the Trust Agreement and to pay any Reserve Facility Costs Base Rental Payments as provided in Section 3.04 hereof. Upon request by the agreement with respect to Authority or the Reserve FacilityTrustee, and a revised Exhibit B to this Sublease Facilities Lease shall be prepared by the County and supplied to the Authority and the Trustee reflecting such reallocationrecalculation.

Base Rental Payments. The County City agrees to pay to the Authority, as Base Rental Payments for the use and occupancy of the Facilities Facilities, including the Demised Premises (subject to the provisions of Sections 3.04, 3.06 3.06, 3.08 and 7.01 of this SubleaseLease) annual rental payments with principal and interest components, the interest components being payable semi-annually, in accordance with the Base Rental Payment Schedule attached hereto as Exhibit B and made a part hereof. Base Rental Payments shall be calculated on an annual basis, for each Rental Payment Periodthe twelve-month periods commencing on May 2 and ending on May 1, and each annual Base Rental shall be divided into two interest components, due on December November 1 and June May 1, and one principal component, due on June May 1, except that the first Base Rental Payment Period period commences on the date of recordation of this Sublease the Facility Lease and ends on [ ]May 1, 2011. Each Base Rental Payment installment shall be payable on the fifteenth twenty-fifth (15th25th) day of the month immediately preceding its due date and any interest or other income with respect thereto accruing prior to such due date. The interest components of the Base Rental Payments shall be paid by the County City as and constitute interest paid on the principal components of the Base Rental Payments to be paid by the County City hereunder, computed on the basis of a 360-day year composed of twelve 30-30- day months. Each annual payment of Base Rental (to be payable in installments as aforesaid) shall be for the use of the Facilities, including the Demised Premises. If the term of this Sublease Lease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December November 1 and June May 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this SubleaseLease. Upon such extension of this SubleaseLease, the County City shall deliver to the Trustee a Certificate setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components of the Base Rental Payments so that the principal components will in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and to pay any Reserve Facility Costsinterest. If at any time the Base Rental hereunder shall not have been paid by the County when dueCity, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on the Bonds, the principal and interest components of the Base Rental shall be recalculated by the County City to reflect interest on the unpaid principal components at the rate or rates specified in the Trust Agreement and to pay any Reserve Facility Costs as provided in the agreement with respect to the Reserve FacilityAgreement, and a revised Exhibit B to this Sublease Facility Lease shall be prepared by the County City and supplied to the Authority and the Trustee reflecting such reallocation.

Base Rental Payments. The County agrees to pay to the Authority, as Base Rental Payments for the use and occupancy of the Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this Sublease) annual rental payments with principal and interest components, the interest components being payable semi-annually, in accordance with the Base Rental Payment Schedule attached hereto as Exhibit B and made a part hereof. Base Rental Payments shall be calculated on an annual basis, for each Rental Payment Period, and each annual Base Rental shall be divided into two interest components, due on December 1 and June 1, and one principal component, due on June 1, except that the first Rental Payment Period commences on the date of recordation of this Sublease and ends on [ [May 31, 2014]. Each Base Rental Payment installment shall be payable on the fifteenth (15th) day of the month immediately preceding its due date. The interest components of the Base Rental Payments shall be paid by the County as and constitute interest paid on the principal components of the Base Rental Payments to be paid by the County hereunder, computed on the basis of a 360-day year composed of twelve 30-day months. Each annual payment of Base Rental (to be payable in installments as aforesaid) shall be for the use of the Facilities. If the term of this Sublease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December 1 and June 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this Sublease. Upon such extension of this Sublease, the County shall deliver to the Trustee a Certificate setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components of the Base Rental Payments so that the principal components will in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and to pay any Reserve Facility Costsinterest. If at any time the Base Rental shall not have been paid by the County when due, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on the BondsObligations, the principal and interest components of the Base Rental shall be recalculated by the County to reflect interest on the unpaid principal components at the rate or rates specified in the Trust Agreement and to pay any Reserve Facility Costs as provided in the agreement with respect to the Reserve FacilityAgreement, and a revised Exhibit B to this Sublease shall be prepared by the County and supplied to the Authority and the Trustee reflecting such reallocation.

Base Rental Payments. The County agrees to pay to the Authority, as Base Rental Payments for the use and occupancy of the Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this SubleaseFacilities Lease) annual rental payments with principal and interest components, the interest components being payable semi-annually, in accordance with the Base Rental Payment Schedule attached hereto as Exhibit B and made a part hereof. The County is hereby directed to pay all such Base Rental Payments directly to the Trustee for application as provided in the Trust Agreement. Base Rental Payments shall be calculated on an annual basis, for each Rental Payment Period, and each annual Base Rental Payment shall be divided into two interest components, due on December June 1 and June December 1, and one principal component, due on June 1, except that the first Rental Payment Period commences on the date of recordation of this Sublease Facilities Lease and ends on [ ]June 1, 2018. Each Base Rental Payment installment shall be payable on the fifteenth (15th) day of the month third Business Day immediately preceding its due date. The interest components of the Base Rental Payments shall be paid by the County as and constitute interest paid on the principal components of the Base Rental Payments to be paid by the County hereunder, computed on the basis of a 360-day year composed of twelve 30-day months. Each annual payment of Base Rental (to be payable in installments as aforesaid) shall be for the use of the Facilities. If the term of this Sublease Facilities Lease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December June 1 and June December 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this SubleaseFacilities Lease. Upon such extension of this SubleaseFacilities Lease, the County Purchaser shall deliver to the Trustee and the County a Certificate certificate reasonably satisfactory to the County setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components of the Base Rental Payments so that the principal components will in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and to pay any Reserve Facility Coststhereon. If at any time the Base Rental shall not have been paid by the County when due, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on the Bonds, the principal and interest components of the Base Rental shall be recalculated by the Purchaser in a manner reasonably satisfactory to the County to reflect interest on the unpaid principal components Base Rental Payments at the rate Default Rate. Upon request by the Authority or rates specified in the Trust Agreement and to pay any Reserve Facility Costs as provided in the agreement with respect to the Reserve FacilityTrustee, and a revised Exhibit B to this Sublease Facilities Lease in form and substance reasonably satisfactory to the County shall be prepared by the County Purchaser and supplied to the Authority Authority, the County and the Trustee reflecting such reallocationrecalculation.

Base Rental Payments. The County agrees to City shall pay to the Authority, as Authority the Base Rental Payments for which shall be due in the use amounts and occupancy of at the Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this Sublease) annual rental payments with principal and interest components, the interest components being payable semi-annually, times set forth OHS West:260094513.5 10 in accordance with the Base Rental Payment Schedule contained in Exhibit C attached hereto as Exhibit B and made a part hereof. , which Base Rental Payments shall be calculated on an annual basis, payable by the City for each Rental Payment Period, and each annual Base Rental shall be divided into two interest components, due on December 1 and June 1, and one principal component, due on June 1, except that the first Rental Payment Period commences on lease of the date of recordation of this Sublease and ends on [ ]Project to it. Each Base Rental Payment installment shall be payable to the Trustee (as assignee of the Authority pursuant to the Indenture) in immediately available funds on the fifteenth Business Day immediately preceding such Base Rental Payment Date (15th) day the “Due Date”), and any payments remitted to the Trustee prior to any Due Date shall be invested for the credit of the month immediately preceding its due dateCity as instructed by the City, and any interest or other income with respect thereto accruing prior to each such Due Date shall belong to the City and shall be returned by the Trustee, on behalf of the Authority, to the City on June 1 and D ecember 1 of each year or shall be transferred as otherwise directed by the City. The interest components of City shall provide written notice to the Trustee at least thirty (30) Business Days prior to any Due Date upon which it expects to be unable to pay the Base Rental Payments shall be paid by Payment due on such Due Date, informing the County as and constitute interest paid on the principal components Trustee of its expected inability to pay the Base Rental Payment due on such Due Date. The City covenants (subject to Section 6.04 of the Master Project Lease) to take such action each year as may be necessary to include all Base Rental Payments due hereunder in its annual budgets and (to be paid by the County hereunder, computed on extent that provisions for the basis of a 360-day year composed of twelve 30-day months. Each annual payment of Base Rental Payments have not been otherwise made) to make the necessary annual appropriations for all such Base Rental Payments, and the City will furnish to the Trustee, within ninety (to be payable in installments as aforesaid90) shall be for days after the use final ado ption of each xxx ual budget of the Facilities. If City, a certificate that the term of this Sublease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December 1 and June 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this Sublease. Upon such extension of this Sublease, the County shall deliver to the Trustee a Certificate setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components annual budget of the City provides for all such Base Rental Payments so that the principal components will required to be made hereunder in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and to pay any Reserve Facility Costs. If at any time the Base Rental shall not have been paid by the County when due, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on the Bonds, the principal and interest components of the Base Rental shall be recalculated by the County to reflect interest on the unpaid principal components at the rate or rates specified in the Trust Agreement and to pay any Reserve Facility Costs as provided in the agreement with respect to the Reserve Facility, and a revised Exhibit B to this Sublease shall be prepared by the County and supplied to the Authority and the Trustee reflecting such reallocationyear.

Base Rental Payments. The County agrees to pay to the AuthorityCorporation, as Base Rental Payments for the use and occupancy of the Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this SubleaseFacilities Lease) annual rental payments with principal and interest componentsprincipal, the interest components being payable semi-annually, in accordance with the Base Rental Payment Schedule attached hereto as Exhibit B and made a part hereof. Base Rental Payments shall be calculated on an annual basis, for each Rental Payment Periodthe twelve-month periods commencing on June 2 and ending on June 1, and each annual Base Rental shall be divided into two interest components, due on December 1 and June 11 of each rental payment period, and one principal component, due on June 1, except that the first Rental Payment Period commences on the date 1 of recordation of this Sublease and ends on [ ]each rental payment period. Each Base Rental Payment installment shall be payable on or before the fifteenth (15th) day of the month immediately sixth Business Day preceding its due datedate and any interest or other income with respect thereto accruing prior to such due date shall belong to the County and shall be returned by the Corporation to the County on June 1 and December 1 of each year. The interest components of the Base Rental Payments shall be paid by the County as and constitute interest paid on the principal components of the Base Rental Payments to be paid by the County hereunder, computed on the basis of a 360-day year composed of twelve 30-day months. Each annual payment of Base Rental (to be payable in installments as aforesaid) shall be for the use of the Facilities. If the term of this Sublease Facilities Lease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December June 1 and June December 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this SubleaseFacilities Lease. Upon such extension of this SubleaseFacilities Lease, the County shall deliver to the Trustee a Certificate setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components of the Base Rental Payments so that the principal components will in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and on the extended principal at a rate equal to pay any Reserve Facility Coststhe rate of interest on the principal component of the Base Rental payable on [Termination Date]. If at any time the Base Rental hereunder shall not have been paid by the County when dueCounty, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on represented by the BondsCertificates to the persons entitled to receive such payments, the principal and interest components of the Base Rental shall be recalculated by the County to reflect interest on the unpaid principal components at the rate or rates specified in the Trust Agreement and to pay any Reserve Facility Costs as provided in the agreement with respect to the Reserve FacilityAgreement, and a revised Exhibit B to this Sublease Facilities Lease shall be prepared by the County and supplied to the Authority Corporation and the Trustee reflecting such reallocation.