Deferred Rent. Commencing on April 1, 2019 through January 31, 2023, Tenant shall pay to Landlord, the total amount of Fourteen Million One Hundred Seventy-Five Thousand Two Hundred Thirty-Nine and 00/100ths Dollars ($14,175,239.00) in sixteen (16) equal quarterly installments of Eight Hundred Eighty-Five Thousand Nine Hundred Fifty-Two and 00/100ths Dollars ($885,952.00) on the first Business Day of each calendar quarter during such period.
Deferred Rent. Section 3.1.3(f) of the Lease is deleted in its entirety and replaced with the following:
Deferred Rent. The following Section 3.1.3(f) is added to the Lease immediately following Section 3.1.3(e) thereof and such new Section 3.1.3(f) shall supersede any other provisions of the Lease pertaining to the Deferred Rent:
Deferred Rent. Notwithstanding the foregoing, the provision for taxes based on the income or profits of, and the interest, depreciation and amortization of, a Restricted Subsidiary of a Person will be added to Consolidated Net Income to compute Consolidated EBITDA of such Person only to the extent (and in the same proportion) that the net income of such Subsidiary was included in calculating the Consolidated Net Income of such Person.
Deferred Rent. The Monthly Base Rent for the second (2nd) month of the Initial Lease Term shall be deferred (“Deferred Rent”), and if Tenant fully and faithfully complies with all terms and conditions of this Lease throughout the Term, the Deferred Rent shall be, after the expiration of this Lease, forgiven. However, Tenant shall pay all additional Rent, other costs and expenses due by Tenant under the Lease. If Tenant shall default under any term and condition of this Lease and such default is not cured within the applicable period, if any, then the Deferred Rent shall, without further notice, immediately become due and payable as Rent. Exhibit AThe Project Leasing Plan Exhibit BLegal Description of the land Exhibit CWork Letter Agreement Exhibit DRules and Regulations Exhibit XXxxxx Confirmation Certificate Exhibit FSign Criteria Exhibit GPreventative Maintenance Procedures Exhibit HMove Out Conditions Exhibit IInsurance Requirements for Contractors Exhibit JIntentionally omitted. Exhibit KTenant’s Outside Storage THE PROVISIONS CONTAINED IN Clauses 1 through 59, and Exhibits A through K are incorporated into and become a part of this Lease by reference.
Deferred Rent. Landlord hereby agrees that [***] percent ([***]%) of the Base Rent for the months of May, June and July, 2020 (i.e., $[***]) shall be deferred and shall be repaid by Tenant to Landlord as follows:
a. If Tenant desires to repay the Deferred Amount without interest, then Tenant shall (i) commence repaying the Deferred Amount not later than January 1, 2021; and (ii) complete repayment the Deferred Amount in full on or before March 31, 2021. The monthly payment of the Deferred Amount for the months of January, February and/or March, 2021 shall be not less than the amounts shown in the fourth column of the schedule below unless the Deferred Amount has been repaid in full on or before any of such months; or
b. If Tenant does not repay the Deferred Amount in full by March 31, 2021, then interest at the rate of seven percent (7%) per annum (the “Interest Rate”) shall be added to the Deferred Amount commencing as of January 1, 2021 and the resulting amount (the “Total Deferred Amount”) shall thereafter be paid in not more than twelve (12) equal installments of principal and interest at the Interest Rate together with the then current Base Rent commencing on January 1, 2021 and continuing on the first day of each month thereafter through December, 2021 in installments equal to or greater than the amounts set forth below. Payment Due Date Current Base Rent Deferral Amount Repayment Amount Revised Monthly Base Rent Schedule May 1, 2020 $ [***] $ [***] $ [***] June 1, 2020 $ [***] $ [***] $ [***] July 1, 2020 $ [***] $ [***] $ [***] August 1, 2020 $ [***] $ [***] September 1, 2020 $ [***] $ [***] October 1, 2020 $ [***] $ [***] November 1, 2020 $ [***] $ [***] December 1, 2020 $ [***] $ [***] January 1, 2021 $ [***] $ [***] $ [***] February 1, 2021 $ [***] $ [***] $ [***] March 1, 2021 $ [***] $ [***] $ [***] April 1, 2021 $ [***] $ [***] $ [***] May 1, 2021 $ [***] $ [***] $ [***] June 1, 2021 $ [***] $ [***] $ [***] July 1, 2021 $ [***] $ [***] $ [***] August 1, 2021 $ [***] $ [***] $ [***] September 1, 2021 $ [***] $ [***] $ [***] October 1, 2021 $ [***] $ [***] $ [***] November 1, 2021 $ [***] $ [***] $ [***] December 1, 2021 $ [***] $ [***] $ [***]
c. Notwithstanding anything contained herein to the contrary, Tenant may prepay the balance of the Deferred Amount at any time in whole or in part. If a portion of the Deferred Amount is prepaid by Tenant, the monthly Repayment Amount shown in the schedule above shall be adjusted to reflect the reduction of the balance...
Deferred Rent. Provided no Deferred Rent Default has occurred and is continuing, during the Deferral Period, Tenant may, at its option, in any given month elect to defer payment without interest (if paid as and when required under this Section 2 after which interest and late charges may accrue in accordance with Sections 3.2 and 3.3 of the Lease) of a portion of Minimum Rent then due and owing in an amount up to the Monthly Deferral Amount. If Tenant elects to defer any portion of Minimum Rent then due and owing to Landlord pursuant to this Section 2(a), then Tenant shall deliver to Landlord concurrently with the payment of a portion of the Base Rent a written notice stating (i) the amount of Base Rent being deferred; and (ii) the Deferred Base Rent Balance prior to such deferral and after giving effect to such deferral.
Deferred Rent. The Tenant says that the one or more of the following has occurred because of COVID-19 (check box): ☐ The Tenant’s employment has been terminated; or ☐ The Tenant has been laid off from their employment; or ☐ The Tenant’s hours of employment have been significantly reduced; or ☐ The Tenant is a self-employed and has had their business income significantly reduced; or ☐ A person who the Tenant relies upon to either pay or assist in paying the rent has had their employment or income earning capacity eliminated, reduced or significantly reduced; or ☐ Other (Please describe): ________________________________________ Based on the representations made by the Tenant, the Landlord is prepared to defer payment of the Rent in the amount of $________ (the “Deferred Rent”) as follows (check one box): ☐ Commencing ___________________, the Tenant will pay to the Landlord the amount of $ ________________ every month on the first day of the month in addition to the Rent until such time as the entire amount of the Deferred Rent is paid in full (the “Periodic Payment”, or ☐ The Deferred Rent will be paid in full by _____________________ . The Tenant, if eligible, has, or will apply for the Provincial Government $500/month rental supplement which is payable directly to the Landlord (or a variation of the same Provincial Government program as it is from time to time)(the “Rental Supplement”) and will provide proof of that application to the Landlord on reasonable notice, if requested. Any monies received by the Landlord under the Rental Supplement will be a credit for the Tenant on the Deferred Rent.
Deferred Rent. The Parties agree to defer outstanding Rent payments (and interest accrued through the Effective Date hereof) for the period beginning April 1, 2020 through the end of February 2021 (the “Deferred Rent”). The Deferred Rent will be timely paid by Tenant to Landlord in sixty (60) equal monthly payments (each an “Installment”) in the same manner as Rent pursuant to the Lease commencing on January 1, 2022 and continuing monthly thereafter. Failure to timely make any such Installment shall constitute a default and breach of Lease by Tenant. Rent, in accordance with the paragraph 3 above, shall re-commence on the later of (i) September 1, 2021; or (ii) the first day of the month following the date on which multi-day passenger cruise vessel operations resume at Port Canaveral and provided that crew members are not prohibited by CDC from disembarking, but in no event later than January 1, 2022, (the “Rent Recommencement Date”).
Deferred Rent. The “End Deferral Date” means the earliest to occur of the following: (i) May 31, 2010; (ii) the date specified in Paragraphs 1.13.1(c) or (d)(2)(i); or (iii) a
