Contingent Rent. If Bristol shall fail to host a NASCAR Cup Race during a given NASCAR Cup Race Year, Bristol shall pay to Metro within sixty (60) days after the end of such Lease Year an amount (the “First Contingent Rent”) equal to the greater of (1) zero, and (2) the difference between (i) (A) if no NASCAR Cup Race has at the time of testing occurred during a NASCAR Cup Race Year, the total aggregate Bond Debt Expense for such Lease Year, or (B) if a NASCAR Cup Race has occurred during a NASCAR Cup Race Year, the average Revenue Available for Bond Debt Expense of all NASCAR Cup Race Years in which a NASCAR Cup Race was actually held, and (ii) the actual Revenue Available for Bond Debt Expense for the given NASCAR Cup Race Year in which a NASCAR Cup Race is not held. Further, starting with the sixth Lease Year, if Bristol fails to host a NASCAR Cup Race in consecutive NASCAR Cup Race Years, Bristol shall pay to the Fair Board for each subsequent NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race, additional rent in the following amounts (“Second Contingent Rent”; First Contingent Rent and Second Contingent Rent are hereinafter collectively referred to as “Contingent Rent”): (i) $100,000, for the second consecutive NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race; (ii) $200,000, for the third consecutive NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race; (iii) $300,000, for the fourth consecutive NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race; (iv) $400,000, for the fifth consecutive NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race; and (v) $500,000, for the sixth and each subsequent consecutive NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race; provided, however, that Bristol shall receive a credit for any Lease Year not designated as a NASCAR Cup Race Year in which Bristol nevertheless hosts a NASCAR Cup Race, which credit may be applied to any subsequent NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race, in which event no Contingent Rent shall be payable with respect to such NASCAR Cup Race Year in which Bristol fails to host a NASCAR Cup Race. Any installment of Second Contingent Rent shall be paid within sixty (60) days after the end of the applicable NASCAR Cup Race Year to which such credit was applied. Notwithstanding anything herein to the contrary, no Contingent Rent shall be payable hereunder after fifteen (15) NASCAR C...
Contingent Rent. Contingent Rent shall accrue on a tri- monthly basis and shall be payable by Lessee to Lessor upon return of the Equipment pursuant to Section 5(c) of the Master Lease Agreement.
Contingent Rent. Benchmark ROI. If, upon termination of this Agreement, ADC's cumulative ROI over the Term has exceeded 18.8% (the "Benchmark ROI"), ADC shall pay to Heinz a contingent rent payment (the "Contingent Rent Payment") equal to fifty (50%) percent of the amount by which the ROI received by ADC over the Term exceeded the Benchmark ROI. The Contingent Rent Payment shall be paid to Heinz in immediately available funds within thirty (30) days following the end of the Term.
Contingent Rent. Tenant shall pay to Landlord the Contingent Rental Amount for each such Lease Year in a single installment on November 30 of the next succeeding Lease Year.
Contingent Rent. Contingent Rent calculated as hereinafter specified shall accrue on a calendar quarterly basis and shall be payable by Lessee to Lessor upon return of the Equipment pursuant to Section XIX(e). As used herein, "CONTINGENT RENT" shall be calculated as the product of (x) sixty-five percent (65%) of any per annum increase in the Consumer Price Index for all Items as published by the Department of Labor Bureau of Economics and Statistics reported during the preceding calendar quarter, and (y) the Capitalized Lessor's Cost of the Equipment; provided, however, that the maximum Contingent Rent shall not exceed that amount calculated as seven and one-half (7.5%) percent of the Capitalized Lessor's Cost of the Equipment.
Contingent Rent. Notwithstanding anything herein to the contrary, in addition to the annual Net Rent provided above, beginning on the Commencement Date and continuing through the full term of this Lease, an additional contingent rent equal to twenty percent (20%) of the Monthly Rent shall accrue for the benefit of Landlord (the "Contingent Rent"). The Contingent Rent shall bear simple interest (computed on the basis of a 360-day year, 30 day month) on the accumulated balance thereof, at a rate of seven percent (7%) per annum. In the event of an initial public offering of Tenant's common stock (the "D&D Common Stock"), Landlord shall be paid in cash or cash equivalents, the Contingent Rent and the interest accrued thereon to the date of such public offering, within five (5) days thereof, or at Landlord's option, Landlord shall have a right to convert the Contingent Rent and the interest accrued thereon to the date of such public offering into D&D Common Stock. The Contingent Rent shall continue to accrue after the date of the public offering during the remainder of the full term of this Lease and be payable to Landlord in cash at the same time and in the same manner as the Net Rent. Tenant shall give Landlord written notice of its intent to make an initial public offering of the D&D Common Stock at least sixty (60) days prior to such public offering. Landlord shall notify Tenant in writing of his intent to accept cash or exercise said conversion right within thirty (30) days after receipt of such notice from Tenant. The conversion shall take place on such date as is mutually agreeable to both parties after considering applicable securities laws and regulations, but in no event shall the date of conversion be more than one hundred eighty (180) days after such initial public offering of the D&D Common Stock unless an extension of time is granted by Landlord, in his sole discretion. The conversion price per share shall be the initial offering price on the date of the initial public offering of the D&D Common Stock. If at any time during the term of this Lease the Tenant sells all or substantially all of its assets or dissolves, liquidates or winds up its affairs, merges, reorganizes, consolidates, or combines its assets with those of another unrelated or unaffiliated corporation, or if the holders of substantially all of the D&D Common Stock exchange such stock for stock or securities or property of another unrelated or unaffiliated corporation, the Landlord shall be entitled ...
Contingent Rent. Moneys received as payment of Contingent Rent shall be applied in accordance with Section 7.01(e).
Contingent Rent. Contingent Rent calculated as hereinafter specified shall accrue on a quarterly basis and shall be payable by Lessees to Lessor upon the return of the Lease Assets pursuant to Section XVII (c) of the Lease. As used herein "CONTINGENT Rent" shall be calculated as the product of (x) 90% of any per annum increase in the Consumer Price Index ("CPI") for all items as published in by the Department of Labor Bureau of Economics and Statistics (the "DOL") during the preceding calendar quarter, and (y) the Capitalized Lessor's Cost of the Lease Assets; provided, however, that the maximum Contingent Rent shall not exceed the amount calculated as eight and one half percent (12%) of the Capitalized Lessor's Cost of the Lease Assets; provided, further, that if the manner in which the DOL determines the CPI is modified in any manner that would result in a material change to the amount of Contingent Rent that would otherwise have been payable hereunder, then Lessees and Lessor shall adjust such Contingent Rent in a manner intended to preserve the originally intended net economic result of the determination. As used herein, the following terms shall have the following meanings:
Contingent Rent. With respect to RAC’s Contingent Rent obligation, the cumulative total thereof owed by RAC less the amount paid by RAC prior to the effective date of termination; or
Contingent Rent. In addition to Base Rent, the Concessionaire will pay as periodic Contingent Rent a percentage of the adjusted gross income of the Premises, after specified thresholds are achieved for the Concessionaire.
