Calculation of Minimum Rent Sample Clauses

Calculation of Minimum Rent. Subject to proration as set forth above, Tenant shall pay Minimum Rent during each calendar year, or partial calendar year, during the term in the amounts set forth on Schedule 3.1.1(b) attached hereto and made a part hereof.
Sample 1Sample 2
AutoNDA by SimpleDocs
Calculation of Minimum Rent. Tenant shall pay Minimum Rent during each Accounting Year in an amount equal to the sum of the product of (a) the applicable “Lease Rate” set forth in the table entitled “Lease Rate Schedule” set forth on Exhibit B-1 attached hereto (the “Lease Rate”), multiplied by (b) the Adjusted Lease Basis. The Lease Rate shall be subject to adjustment on an annual basis in accordance with the “Lease Rate Schedule” table set forth on Exhibit B-1 based upon the amount of Aggregate Total Facility Revenues for the applicable Lease Year; provided, however, that (i) the Lease Rate shall be subject to a floor rate, with such floor rate to increase annually in accordance with the “Lease Rate Floor Schedule” table set forth on Exhibit B-1, regardless of the amount of Aggregate Total Facility Revenues for the applicable Lease Year (each, a “Lease Rate Floor”), and (ii) the Lease Rate shall be capped at, and shall never exceed, 9.50% (the “Lease Rate Cap”). Commencing Lease Year 2011 and for each Lease Year thereafter, the Lease Rate shall be the greater of (x) the Lease Rate set forth in the “Lease Rate Schedule” table on Exhibit B-1, based upon the Aggregate Total Facility Revenues for the immediately preceding Lease Year, or (y) the Lease Rate set forth in the “Lease Rate Floor Schedule” table on Exhibit B-1 for the then current Lease Year. By way of example only, if Aggregate Total Facility Revenues for Lease Year 2012 are $144,000,000, then the Lease Rate for Lease Year 2013 shall be 5.50%; and if Aggregate Total Facility Revenues for Lease Year 2012 are $137,000,000, then the Lease Rate for Lease Year 2013 shall be 5.25%, and not 5.00%, because the Lease Rate Floor for Lease Year 2013 is 5.25%.”
Sample 1
Calculation of Minimum Rent. Tenant shall pay Minimum Rent to Landlord in an annual amount equal to the “Applicable Rate,” as set forth in the table below, multiplied by the applicable Lease Basis for the period in question. As set forth in the table below, the Applicable Rate shall be nine and no/100 percent (9.00%) for the period which commenced on the Commencement Date and ended on December 31, 2007, and shall increase at the rate of twenty-five (25) basis points each subsequent calendar year until it reaches, and is capped at, eleven percent and no/100 (11%). Time Period Applicable Rate Commencement date until December 31, 2007 9.00 % January 1, 2008 until December 31, 2008 9.25 % January 1, 2009 until December 31, 2009 9.50 % January 1, 2010 until December 31, 2010 9.75 % January 1, 2011 until December 31, 2011 10.00 % January 1, 2012 until December 31, 2012 10.25 % January 1, 2013 until December 31, 2013 10.50 % January 1, 2014 until December 31, 2014 10.75 % January 1, 2015 until the end of the Term 11.00 % 1240818 37 SCHEDULE 3.1.2(b)
Sample 1
Calculation of Minimum Rent. (i) Minimum Rent for the first three (3) Lease Years shall equal the Initial Minimum Rent.
Sample 1

Related to Calculation of Minimum Rent

  • 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:

  • 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.

  • Minimum Rental Beginning with the Commencement Date and continuing through the Expiration Date or earlier termination of this Lease, Tenant shall pay Minimum Rental in accordance with the schedule set forth in Section 1(g) in equal monthly installments each in advance on or before the first day of each month. If the Commencement Date is a date other than the first day of a calendar month, the Minimum Rental shall be prorated daily from such date to the first day of the next calendar month and paid on or before the Commencement Date.

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • 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.

  • Monthly Rent The rent payable pursuant to Paragraph 5.A., as adjusted from time to time pursuant to the terms of this Lease.

  • 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.

  • Determination of Market Rent If Tenant timely and appropriately objects to the Market Rent in Tenant’s Acceptance, Landlord and Tenant shall attempt to agree upon the Market Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within twenty-one (21) days following Tenant’s Acceptance (“Outside Agreement Date”), then each party shall make a separate determination of the Market Rent which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):

  • Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, a monthly installment of $3,284.00. Lessee shall also pay, as 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 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 (lst) 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 the first (lst) 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.

Time is Money Join Law Insider Premium to draft better contracts faster.