Basic Rent During Each Renewal Term Sample Clauses

Basic Rent During Each Renewal Term. During each Renewal Term, annual Basic Rent for the Renewal Term shall be Fair Market Rental Value as of the first day of such Renewal Term, as determined in accordance with Paragraph 29 of the Lease. Basic Rent during each Renewal Term shall be payable monthly in arrears in installments equal to 1/12 of the annual Basic Rent for such Renewal Term. If the Fair Market Rental Value of the Leased Premises has not been determined as of the first day of any Renewal Term, Tenant shall pay as monthly installments of Basic Rent an amount equal to the Basic Rent in effect immediately prior to such Renewal Date, and shall receive a credit or make an additional payment, as applicable, on the first Basic Rent Payment Date following the determination of Fair Market Rental Value. EXHIBIT E
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Basic Rent During Each Renewal Term. During each Renewal Term, annual Basic Rent for the Renewal Term shall be an amount equal to the Fair Market Rental Value as of the first day of the applicable Renewal Term, determined in accordance with Paragraph 29 of this Lease payable, shall be subject to increases as provided in the foregoing Paragraphs 2, 3 and 4 and shall be payable in equal quarterly installments on each Basic Rent Payment Date.
Sample 1Sample 2
Basic Rent During Each Renewal Term. During each Renewal Term, annual Basic Rent for the Renewal Term shall be an amount equal to the Fair Market Rental Value as of the first day of the applicable Renewal Term, determined in accordance with Paragraph 29 of this Lease payable, shall be subject to increases as provided in the foregoing Paragraphs 2, 3 and 4 and shall be payable in equal quarterly installments on each Basic Rent Payment Date. EXHIBIT E ACQUISITION COST Auburn, IN $ 4,502,104 Bluffton, OH $ 4,825,064 Milan, TN $13,569,936 ----------- $22,897,104 =========== EXHIBIT E - 1 EXHIBIT F PREMISES PERCENTAGE ALLOCATION OF BASIC RENT AND ADDITIONAL BASIC RENT Auburn, IN 19.95% Bluffton, OH 17.71% Milan, TN 62.34% 100.00% If any Related Premises ceases to be subject to this Lease, the percentage shown on this Exhibit F for each of the Related Premises which remains subject to this Lease shall be adjusted proportionately so that the total of such percentages shall be 100%. EXHIBIT F - 1 EXHIBIT G-1 TENANT'S POST-CLOSING ENVIRONMENTAL OBLIGATIONS Tenant shall perform the following actions and provide Landlord with a written status report, on or before the 10th day of each month, with the first report due on or before May 10, 2002 until the activities listed below are completed to the reasonable satisfaction of Landlord and Lender. Tenant shall reimburse Landlord for all of Landlord's reasonable costs, including reasonable attorney fees, and reasonable inspection fees (if any) of Lender not to exceed $500 per inspection incurred by Landlord in reviewing Tenant's progress in completing the activities listed below.
Sample 1
Basic Rent During Each Renewal Term. During the Renewal Term annual Basic Rent for the Renewal Term shall be an amount equal to the Fair Market Rental Value as of the first day of the Renewal Term, determined in accordance with Paragraph 29 of this Lease, shall be subject to increases as provided in the foregoing Paragraphs 2, 3 and 4 and shall be payable in equal quarterly installments on each Basic Rent Payment Date. Auburn, IN $4,502,104 Bluffton, OH $4,825,064 Clinton, MI $28,900,000 TOTAL: $38,227,168
Sample 1
Basic Rent During Each Renewal Term. Subject to the adjustments provided for in Paragraphs 2, 3 and 4 below, Basic Rent for each Renewal Term, shall be payable quarterly in advance in an amount equal to the greater of (A) one hundred percent (100%) of the Fair Market Rental Value (as determined in accordance with Paragraph 29 of this Lease) as of the first day of the applicable Renewal Term and (B) (i) for the first Renewal Term, the sum of Basic Rent in effect as of the last calendar quarter immediately prior to the Expiration Date, any increase as a result of any adjustment to Basic Rent on the fifteenth (15th) anniversary of the First Full Basic Rent Payment Date as provided below and (ii) for the Second Renewal Term, if applicable, the Basic Rent in effect as of the last calendar quarter immediately prior to the expiration of the first Renewal Term.
Sample 1
Basic Rent During Each Renewal Term. During each Renewal Term, annual Basic Rent for the Renewal Term shall be an amount equal to the Fair Market Rental Value as of the first day of the applicable Renewal Term, determined in accordance with Paragraph 29 of this Lease payable, shall be subject to increases as provided in the foregoing Paragraphs 2, 3 and 4 and shall be payable in equal quarterly installments on each Basic Rent Payment Date. Auburn, IN $ 4,502,104 Bluffton, OH $ 4,825,064 Milan, TN $ 13,569,936 $ 22,897,104 Auburn, IN 19.95 % Bluffton, OH 17.71 % Milan, TN 62.34 % 100.00 % If any Related Premises ceases to be subject to this Lease, the percentage shown on this Exhibit F for each of the Related Premises which remains subject to this Lease shall be adjusted proportionately so that the total of such percentages shall be 100%. Tenant shall perform the following actions and provide Landlord with a written status report, on or before the 10 th day of each month, with the first report due on or before May 10, 2002 until the activities listed below are completed to the reasonable satisfaction of Landlord and Lender. Tenant shall reimburse Landlord for all of Landlord’s reasonable costs, including reasonable attorney fees, and reasonable inspection fees (if any) of Lender not to exceed $500 per inspection incurred by Landlord in reviewing Tenant’s progress in completing the activities listed below.
Sample 1

Related to Basic Rent During Each Renewal Term

  • Minimum Monthly Rent (Section 1.5): Tenant shall pay to Landlord Minimum Monthly Rent for the Premises during the Extended Term in accordance with the schedule and in the amount set forth below: 01/01/13-07/31/13 $ 1,776.25 per month $ 8,645.00 per month $ 10,421.25 per month 08/01/13-07/31/14 $ 1,827.00 per month $ 8,892.00 per month $ 10,719.00 per month 08/01/14-07/31/15 $ 1,877.75 per month $ 9,139.00 per month $ 11,016.75 per 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:

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Extension Term The options to extend the Term of this Lease as described above shall not be deemed exercised by Tenant unless at least twenty-four (24) months prior to the Lease Expiration Date for the Primary Term or at least twenty-four (24) months prior to the expiration of the Extension Term for the first (1st) Extension Term, Tenant shall have delivered written notice to Landlord of Tenant's irrevocable election to so extend this Lease at the end of the Primary Term or the first (1st) Extension Term, as applicable. Tenant's failure to deliver one (1) such timely notice to Landlord shall terminate all future Extension Terms, if any, following the Extension Term to which such notice specifically relates. Subject to the provisions of paragraph 5 of this Lease, the terms and conditions of this Lease shall apply to each Extension Term with the same force and effect as if such Extension Term had originally been included in the Primary Term of the Lease. The right of Tenant to exercise its rights with respect to the Extension Terms shall be conditioned upon this Lease being in full force and effect and no Event of Default then existing as of the Lease Expiration Date (for the first (1st) Extension Term), or expiration of the first (1st) Extension Term (for the second (2nd) Extension Term). The Primary Term, together with any Extension Term with respect to which Tenant properly exercises its option, and for which the conditions related thereto are satisfied, shall constitute the "TERM" of this Lease.

  • Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, in accordance with the Schedule of Base Rent attached hereto as EXHIBIT D ("Base Rental). Lessee shall also pay, as additional rent [or Forecast 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 annual 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 1st 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 first (1st) 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. (b) In the event any installment of the Base Rental, or any other sums which may become owing by Lessee to Lessor under the provisions hereof are not received within Five (5) days after the due date thereof (without in any way implying Lessor's consent to such late payment), Lessee, to the extent permitted by law, agrees to pay, in addition to said installment of the Base Rental or such other sums owed, a late payment charge equal to ten percent (10%) (Late Fee) of the installment of the Base Rental or such other sums owed. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which have been advanced by Lessor to or for the benefit of Lessee pursuant to the provisions of this Lease, it being understood that such sums shall bear interest, which Lessee hereby agrees to pay to Lessor, at the lesser of fifteen percent (15%) per annum or the maximum rate of interest permitted by law to be charged Lessee for the use or forbearance of such money.

  • Lease Year Lease Year" means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • 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.

  • Renewal Fee Borrower agrees to pay a fee equal to one-quarter of one percent (0.25%) of the Bank’s committed amount for the Line of Credit upon any renewal of the Line of Credit.

  • Base Term Commencing on the Expansion Premises Commencement Date, the defined term “Base Term” on page 1 of the Lease is deleted in its entirety and replaced with the following:

  • 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.

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