Calculation of Additional Minimum Rent Sample Clauses

Calculation of Additional Minimum Rent. Subject to proration as set forth above, Tenant shall pay Additional Minimum Rent during each Fiscal Year of this Agreement in the amount set forth on Schedule 3.1.2(b) attached hereto and made a part hereof.
Sample 1
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Calculation of Additional Minimum Rent. In the event that Additional Minimum Rent is due and payable hereunder pursuant to Section 3.3 above, subject to proration as set forth above, Tenant shall pay Additional Minimum Rent in respect of each Fiscal Year under this Lease equal to (i) from the date of the Original Lease through the expiration of the fifth (5th) full Fiscal Year, ten percent (10.0%) of the Total Facility Revenues for such Fiscal Year in excess of the Additional Minimum Rent Threshold, (ii) for the sixth (6th) full Fiscal Year through the expiration of the tenth (10th) full Fiscal Year, eleven and one-quarter percent (11.25%) of the Total Facility Revenues for such Fiscal Year in excess of the Additional Minimum Rent Threshold and (iii) for the eleventh (11th) full Fiscal Year through the expiration of the Initial Term, and for each Fiscal Year during any Extended Term thereafter, twelve and one-quarter percent (12.25%) of the Total Facility Revenues for such Fiscal Year in excess of the Additional Minimum Rent Threshold. For purposes hereof, the term “Additional Minimum Rent Threshold” shall mean, (i) with respect to the six (6) month period ending June 30 of each Fiscal Year during the Term, the sum of Two Million Seven Hundred Thirty-Two Thousand Seven Hundred Fifty and No/100 Dollars ($2,732,750.00), and (ii) with respect to the six (6) month period ending December 31 of each Fiscal Year during the Term, the sum of Two Million Seven Hundred Thirty-Two Thousand Seven Hundred Fifty and No/100 Dollars ($2,732,750.00).
Sample 1
Calculation of Additional Minimum Rent. Total Additional Minimum Rent in respect of each Fiscal Year under this Agreement and the Real Property Lease shall be, in the aggregate, an amount equal to one and two-fifths percent (1.40%) of Gross Revenues in excess of the Threshold (“Total Additional Minimum Rent”). For purposes hereof, the initial “Threshold” beginning with the 2009 Fiscal Year shall be the sum of Seventeen Million Eight Hundred Twenty Five Thousand and no/100 dollars ($17,825,000.00). In each Fiscal Year, the Threshold shall be raised by an amount equal to the increase in Minimum Rent resulting from the funding of additional capital by the Landlord (“Additional Owner Investment”) in the Fiscal Year divided by thirty percent (30.00%). Installments of Total Additional Minimum Rent shall be due and payable within forty-five (45) days after the end of each Fiscal Year. 1240818
Sample 1
Calculation of Additional Minimum Rent. In the event that there are Excess Total Facility Revenues for any Fiscal Year during the Term, Tenant shall pay to Landlords, as Additional Minimum Rent, an amount equal to ten percent (10%) of such Excess Total Facilities Revenues (all Additional Minimum Rent due and payable pursuant to the foregoing shall be referred to herein as “Total Additional Minimum Rent”). The Total Additional Minimum Rent payment for each Fiscal Year each, an “Annual Additional Minimum Rent Payment” shall be due and payable in arrears within sixty (60) days after the end of each Fiscal Year during the Term.
Sample 1
Calculation of Additional Minimum Rent. Total Additional Minimum Rent in respect of each Fiscal Year under this Agreement and the Personal Property Lease shall be, in the aggregate, an amount equal to five and three-fifths percent (5.60%) of Gross Revenues in excess of the Threshold (“Total Additional Minimum Rent”). For purposes hereof, the initial “Threshold” beginning with the 2009 Fiscal Year shall be the sum of Seventeen Million Eight Hundred Twenty Five Thousand and no/100 dollars ($17,825,000.00). In each Fiscal Year, the Threshold shall be raised by an amount equal to the increase in Minimum Rent resulting from the funding of additional capital by the Landlord (“Additional Owner Investment”) in the Fiscal Year divided by thirty percent (30.00%). Installments of Total Additional Minimum Rent shall be due and payable within forty-five (45) days after the end of each Fiscal Year. 1240817 SCHEDULE 5.1.2(A)(IV) APPROVED CAPITAL LEASES Contract Description: Type of Contract Date GECCAccount # Amount ofNext Payment Current Balance Property Description Current Property Location New Location(If Different) MENQSI 07/23/2004Master Lease Agreement dated as of 12/08/2003 4155054-002 0.00 24,042.28 One (1) Xxxxx Pipe Monster,SN# 20940 0000 Xxxxx Xxxxx 000, Xxxxxxxxxx Xxxx, Xxxxxxxx Xxxxxx, XX 00000 NENQSI 11/24/2004 Master Lease Agreement dated as of 12/08/2003 4155054-003 0.00 106,128.52 Two (2) 2005 Bombardier Model BR350Grooming VehicleSN# 908910108 & 908910107 0000 Xxxxx Xxxxx 000, Xxxxxxxxxx Xxxx, Xxxxxxxx Xxxxxx, XX 00000 1240817 98 SCHEDULE 6.2.2 SCHEDULE OF DEEMED APPROVED ALTERATIONS NONE 1240817 99 SCHEDULE 16.4 SCHEDULE OF PREMISES/LEASES SUBJECT TO SUBTENANT NON-DISTURBANCE NONE 1240817 100 SCHEDULE 17.5 FORM OF ANNUAL BUDGET In connection with the delivery of the Annual Budget and Marketing Plan required pursuant to Section 17.5 of this Agreement, Tenant shall furnish the following information to Landlord no later than one (1) month prior to the end of each Fiscal Year: ANNUAL BUDGET
Sample 1
Calculation of Additional Minimum Rent. Tenant shall pay Additional Minimum Rent in respect of each Fiscal Year under this Lease in an amount equal to nine percent (9.0%) of Adjusted Total Facility Revenues for such Fiscal Year in excess of the Threshold. Installments of Additional Minimum Rent for each Fiscal Year shall be due and payable in arrears within thirty (30) days after the end of each Fiscal Quarter of the Term hereof (each a “Quarterly Additional Minimum Rent Payment”), based upon Adjusted Total Facility Revenues for such Fiscal Quarter and an allocation of one quarter of the Threshold amount to each such Fiscal Quarter. Along with each Quarterly Additional Minimum Rent Payment, Tenant shall submit to Landlord an unaudited (but certified by a duly authorized officer of Tenant or Tenant’s general partner or managing member, if applicable) statement showing a detailed breakdown of the calculation of Additional Minimum Rent for such Fiscal Quarter, and for the Fiscal Year to date on a cumulative basis. Tenant’s obligation to pay Additional Minimum Rent for the Fiscal Year which includes the date of termination of this Lease shall survive the termination hereof.
Sample 1

Related to Calculation of Additional Minimum Rent

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

  • Payment of Additional Rent In addition to the Minimum Annual Rent specified in this Lease, Tenant shall pay to Landlord as "Additional Rent" for the Leased Premises, in each calendar year or partial calendar year, during the Lease Term, an amount equal to the Annual Rental Adjustment excluding Real Estate Taxes for such calendar year or partial calendar year. In the case of the calendar year of the Commencement Date, Landlord shall provide such notice prior to the Commencement Date. The Annual Rental Adjustment excluding Real Estate Taxes shall be estimated annually by Landlord, and written notice thereof shall be given to Tenant prior to the beginning of each calendar year. Tenant shall pay to Landlord each month, at the same time the Monthly Rental Installment is due, an amount equal to one-twelfth (1/12) of the estimated Annual Rental Adjustment excluding Real Estate Taxes. If the cost of utility, janitorial or other services increase during a calendar year, Landlord may increase the estimated Annual Rental Adjustment excluding Real Estate Taxes during such year by giving Tenant written notice to that effect, and thereafter Tenant shall pay to Landlord, in each of the remaining months of such year, an amount equal to the amount of such increase in the estimated Annual Rental Adjustment excluding Real Estate Taxes for the remainder of the year divided by the number of months remaining in such year. Within a reasonable time after the end of each calendar year, Landlord shall prepare and deliver to Tenant a statement showing the actual Annual Rental Adjustment excluding Real Estate Taxes. Within thirty (30) days after receipt of the aforementioned statement, Tenant shall pay to Landlord, or Landlord shall credit against the next rent payment or payments due from Tenant, as the case may be, the difference between the actual Annual Rental Adjustment excluding Real Estate Taxes for the preceding calendar year and the estimated amount paid by Tenant to Landlord during such year. In addition, Tenant shall pay, before delinquency, any and all Real Estate Taxes as defined in Section 3.02.D, above, directly to the appropriate taxing authority. If Tenant fails for any reason to pay the Real Estate Taxes when same is due and payable, Landlord shall have the right, but not the obligation, to pay the Real Estate Taxes directly to the taxing authority and Tenant shall immediately reimburse Landlord for the cost thereof. Such amount shall accrue interest from the date Landlord pays such amount, pursuant to Section 3.04, below, shall include any penalties, late fees and any interest assessed due to such delinquency. Tenant or its accountants shall have the right to inspect, at reasonable time and in a reasonable manner, during the one hundred twenty (120) day period following the delivery of Landlord's statement of the actual amount of the Annual Rental Adjustment excluding Real Estate Taxes, such of Landlord's books of account and records as pertain to and contain information concerning such costs and expenses for the Building for the prior calendar year in order to verify the amounts thereof. In the event the first audit discloses (i) errors made during the prior calendar year which, when totaled, indicate that the sum overcharged to and paid by Tenant, exceeds five percent (5%) of the Annual Rental Adjustment excluding Real Estate Taxes plus Landlord's Share of Operating Expenses (the "Total Expenses"), the audit shall be at the expense of Landlord, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), or (ii) no errors or an error which equals or is less than five percent (5%) of the Total Expenses, the audit shall be at the expense of Tenant. For each subsequent audit, where the audit discloses errors exceeding five percent (5%) of the Total Expenses, Landlord shall pay for such audit and, if the audit discloses errors equal to or less than five percent (5%) of the Total Expenses, Tenant shall pay the costs of the audit. If Landlord spends more than eight (8) hours to accommodate Tenant's right to audit hereunder, Tenant shall also pay to Landlord as additional rent Seventy-five Dollars ($75.00) per hour for each additional hour that Tenant's audit takes of Landlord's property manager's or asset manager's time, provided such audit discloses no error or an error greater than five percent (5%) of the Total Expenses. The results of the audit (regardless of the degree of the error, if any) shall be binding upon Landlord and Tenant, and Landlord shall thereafter, if appropriate, change its method of calculating the Operating Expenses consistent with the results of the audit. Tenant agrees to hold the information obtained from such audit confidential and shall not disclose the same without Landlord's express written permission except as necessary to enforce the Lease or protect Tenant's rights hereunder. If Tenant shall not elect to cause an audit within the time period permitted hereby, then Landlord's statement shall be conclusively deemed to have been approved and accepted by Tenant. Pending resolution of any dispute with respect to statements of Tenant's Annual Rental Adjustment, Tenant shall pay its Annual Rental Adjustment as shown on such statement, and upon final determination of the amount of Tenant's Annual Rental Adjustment, Landlord shall promptly refund any overpayment to Tenant or Tenant shall promptly pay any amount due to Landlord, as applicable.

  • Calculation of Adjustments All adjustments to the Settlement Rate shall be calculated to the nearest 1/10,000th of a share of Common Stock (or if there is not a nearest 1/10,000th of a share to the next lower 1/10,000th of a share). No adjustment in the Settlement Rate shall be required unless such adjustment would require an increase or decrease of at least one percent therein; provided, that any adjustments which by reason of this subparagraph are not required to be made shall be carried forward and taken into account in any subsequent adjustment. If an adjustment is made to the Settlement Rate pursuant to paragraph (1), (2), (3), (4), (5), (6), (7) or (10) of this Section 5.6(a), an adjustment shall also be made to the Applicable Market Value solely to determine which of clauses (i), (ii) or (iii) of the definition of Settlement Rate in Section 5.1(a) will apply on the Stock Purchase Date. Such adjustment shall be made by multiplying the Applicable Market Value by a fraction, the numerator of which shall be the Settlement Rate immediately after such adjustment pursuant to paragraph (1), (2), (3), (4), (5), (6), (7) or (10) of this Section 5.6(a) and the denominator of which shall be the Settlement Rate immediately before such adjustment; provided, that if such adjustment to the Settlement Rate is required to be made pursuant to the occurrence of any of the events contemplated by paragraph (1), (2), (3), (4), (5), (7) or (10) of this Section 5.6(a) during the period taken into consideration for determining the Applicable Market Value, appropriate and customary adjustments shall be made to the Settlement Rate.

  • Calculation of Rent All calculation of Rent payable hereunder shall be computed based on the actual number of days elapsed over a year of three hundred sixty (360) days or, to the extent such Rent is based on the Prime Lending Rate, three hundred sixty-five (365) (or three hundred sixty-six (366), as applicable) days.

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Determination of Adjustments If any questions will at any time arise with respect to the Exercise Price or any adjustment provided for in Section 4.8, such questions will be conclusively determined by the Company’s Auditors, or, if they decline to so act any other firm of certified public accountants in the United States of America that the Company may designate and who will have access to all appropriate records and such determination will be binding upon the Company and the Holders of the Warrants.

  • Computation of Adjusted Exercise Price Except as hereinafter -------------------------------------- provided, in the event the Company shall at any time after the date hereof issue or sell any shares of Common Stock including shares held in the Company's treasury (other than (i) the issuances or sales referred to in Section 9.7 hereof, (ii) shares of Common Stock issued upon the exercise of any options, rights or warrants to subscribe for shares of Common Stock, or (iii) shares of Common Stock issued upon the direct or indirect conversion or exchange of securities for shares of Common Stock), for a consideration per share less than the Market Price in effect immediately prior to the issuance or sale of such shares, or without consideration, then forthwith upon such issuance or sale, the Exercise Price shall (until another such issuance or sale) be reduced to the price (calculated to the nearest full cent) equal to the quotient derived by dividing (i) an amount equal to the sum of (a) the total number of shares of Common Stock outstanding immediately prior to the issuance or sale of such shares, multiplied by the Exercise Price in effect immediately prior to such issuance or sale, and (b) the aggregate of the amount of all consideration, if any, received by the Company upon such issuance or sale, by (ii) the total number of shares of Common Stock outstanding immediately after such issuance or sale; provided, however, that in no event shall the Exercise Price be adjusted pursuant to this computation to an amount in excess of the Exercise Price in effect immediately prior to such computation, except in the case of a combination of outstanding shares of Common Stock, as provided by Section 9.3 hereof. For the purposes of this Section 9 the term Exercise Price shall mean the Exercise Price per share of Common Stock set forth in Section 7 hereof, as adjusted from time to time pursuant to the provisions of this Section 9. For the purposes of any computation to be made in accordance with this Section 9.1, the following provisions shall be applicable:

  • Computation of Adjusted Price In case the Company shall at any time after the date hereof pay a dividend in shares of Common Stock or make a distribution in shares of Common Stock, then upon such dividend or distribution the Exercise Price in effect immediately prior to such dividend or distribution shall forthwith be reduced to a price determined by dividing:

  • Intent to Limit Charges to Maximum Lawful Rate In no event shall the interest rate or rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. Borrower and the Lender Group, in executing and delivering this Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however, that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, Borrower is and shall be liable only for the payment of such maximum as allowed by law, and payment received from Borrower in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of the Obligations to the extent of such excess.

  • Valuation of additional security For the purpose of this clause 8.2, the market value of any additional security provided or to be provided to the Bank shall be determined by the Bank in its absolute discretion without any necessity for the Bank assigning any reason thereto.

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