Common use of Basic Rent During Each Renewal Term Clause in Contracts

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 FINANCIAL COVENANTS

Appears in 1 contract

Samples: Lease Agreement (Corporate Property Associates 14 Inc)

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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 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 FINANCIAL COVENANTSfirst Basic Rent Payment Date following the determination of Fair Market Rental Value. EXHIBIT E

Appears in 1 contract

Samples: Lease Agreement (Etec Systems Inc)

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 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 --------- FINANCIAL COVENANTS

Appears in 1 contract

Samples: Lease Agreement (Etec Systems Inc)

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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 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 FINANCIAL COVENANTSfirst Basic Rent Payment Date following the determination of Fair Market Rental Value.

Appears in 1 contract

Samples: Lease Agreement (Corporate Property Associates 12 Inc)

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