Calculation of Percentage Rent. Subject to proration as set forth above, Tenant shall pay Percentage Rent in respect of each Fiscal Year under this Agreement equal to (a) ten percent (10%) of the Total Facility Revenue for such Fiscal Year in excess of the Threshold, less (b) the amount by which annual Minimum Rent in the Fiscal Year for which Percentage Rent is being calculated exceeds the amount of annual Minimum Rent due for the first (1st) Accounting Year under this Agreement.
Appears in 8 contracts
Samples: Lease Agreement (CNL Retirement Properties Inc), Lease Agreement (American Retirement Corp), Lease Agreement (CNL Retirement Properties Inc)
