Facility Rent Clause Samples

Facility Rent. Facility Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the structures, and appurtenances thereto, upon the Land as measured from the outer-most vertical surfaces of the structures as set forth and shown on the attached Exhibit “A”. Facility Rent for all facilities shall commence on April 1, 2047 of the second five (5) year Option Term, and shall be set at the then-current market value of such facilities, structures, fixtures and improvements as determined by a single independent third-party licensed and accredited commercial property appraiser with local commercial property market experience. The appraiser shall be selected by agreement of the Parties.

Facility Rent. Commencing on the date Concessionaire substantially occupies the Premises, as determined solely by the Contract Administrator, or sixty (60) Days after the Effective Date, whichever occurs sooner ("Facility Rent Commencement Date"), Concessionaire shall pay rent, together with all applicable sales taxes thereon, to County for the Premises based on the rates then in effect pursuant to this Agreement ("Facility Rent"). Except as otherwise expressly stated in this section, Facility Rent shall be paid by Concessionaire in advance and without demand, set off, or deduction. Facility Rent shall be paid in equal monthly installments on the first Day of each calendar month, except for the first installment payment for Agreement Year 1, which shall be paid on the Facility Rent Commencement Date and shall be prorated based on the number of Days occurring between the Facility Rent Commencement Date and the first Day of the following month. The payment due for the last month of the Term shall be prorated based on the number of Days in the last month of the Term.

Facility Rent. On each Rent Payment Date, the Lessee shall, until (i) the Lease Balance shall be paid in full on the Lease Termination Date, or (ii) the payment by Lessee of the Recourse Deficiency Amount on the Scheduled Termination Date and the fulfillment of the provisions of clauses (i) through (xiii) of Section 15.6, pay installments of Facility Rent in arrears with respect to the period elapsed since, in the case of the first Rent Payment Date, the initial Closing Date, and in the case of each subsequent Rent Payment Date, the immediately preceding Rent Payment Date, and each such installment shall be in an amount which equals the Contribution Return then accrued and unpaid. In addition, the Lessee shall pay as Facility Rent an amount equal to the Lessor's Breakage Costs, if any, which at any time shall be payable pursuant to this Lease or the Operative Documents.

Facility Rent. On each Rent Payment Date, the Lessee shall, until (i) the total Lease Balance shall be paid in full on the Lease Termination Date, or (ii) the payment by Lessee of the Recourse Deficiency Amount on the Scheduled Termination Date and the fulfillment of the provisions of clauses (i) through (xiii) of Section 15.6, pay installments of Facility Rent in respect of each Property in arrears with respect to the period elapsed since, in the case of the first Rent Payment Date for such Property, the related Parcel Completion Date, and in the case of each subsequent Rent Payment Date, the immediately preceding Rent Payment Date, and each such installment shall be in an amount which equals the Contribution Return accrued and unpaid in respect of the Parcel Contribution Tranche for such Property. In addition, the Lessee agrees to pay as Facility Rent (i) on the Final Completion Date, all accrued and unpaid Contribution Return, if any, which shall not have been added to the balance of the Contribution in accordance with Section 2.2(d) of the Participation Agreement as the result of the total funding of the Equity Commitment, and (ii) an amount equal to the Lessor's Breakage Costs in the event of the imposition of such Lessor's Breakage Costs.

Facility Rent. With respect to the Concessionaire’s Facility Rent obligation, the cumulative total thereof owed by Concessionaire less the amount paid by Concessionaire prior to the effective date of termination; or

Facility Rent i. During the first Contract Year, the Contractor shall pay Facility Rent to the Authority at an annual rate of $2.59 per square foot of the Site. ii. Upon the commencement of the second Contract Year and each Contract Year thereafter including the Extension Periods, the Facility Rent shall increase by three percent (3%) of the Facility Rent charged to the Contractor in the previous Contract Year. iii. The annual Facility Rent shall be prorated and paid monthly in advance and without demand on the first day of each month during the Contract Term. iv. The Authority reserves the right to charge the Contractor a new Facility Rent upon the commencement of the first Extension Period based on a continued escalation of three percent (3%) for each additional Contract Year or based on an appraisal of the Site by the Authority. v. The Contractor shall be required to pay Facility Rent to the Authority for any area assigned under this Contract, or any other lease entered into in connection with this Contract, at the prevailing rental rate for that Contract Year. During site consolidation, the Contractor shall pay Facility Rent to the Authority for any areas occupied by Contractor. The Authority will provide written notification of any necessary adjustments to the Facility Rent due from the Contractor based on changes to the areas assigned to the Contractor throughout the consolidation of the Sites and throughout the term of this Contract (for the completion of the consolidation of the Contractor’s Site, changes in overflow or transition areas assigned to the Contractor at the Contractor’s request, or other). A non-incumbent Contractor shall not be charged Facility Rent until such time as the Authority has made available to the Contractor for its operations either its assigned site or an alternative location.

Facility Rent i. During the first Contract Year, the Contractor shall pay Facility Rent to the Authority at an annual rate of $2.59 per square foot of the Site. ii. Upon the commencement of the second Contract Year and each Contract Year thereafter, the Facility Rent shall increase by three percent (3%) of the Facility Rent charged to the Contractor in the previous Contract Year. iii. The annual Rent shall be prorated and paid monthly in advance and without demand on the first day of each month during the Contract Term. iv. The Authority reserves the right to charge the Contractor a new Facility Rent upon the commencement of the first Extension Period based on a continued escalation of three percent (3%) for each additional Contract Year or based on an appraisal of the Site by the Authority.

Facility Rent. During this extension, facility rent shall be based upon the 3,012 sq. ft. of office space at the annual rate of six dollars ($6.00). In addition, the 8,969 sq. ft. of warehouse space, at the annual rate of three dollars and eleven cents ($3.11).

Facility Rent. The Lessee shall pay Facility Rent in installments on each Rent Payment Date in the respective amounts set forth in APPENDIX III hereto. The first Rent Payment Date shall be the last Business Day of the calendar month in which the Closing Date occurs, and each subsequent Rent Payment Date shall be the last Business Day of each successive month during the Lease Term, PROVIDED THAT the Lease Termination Date shall be a Rent Payment Date regardless of whether it falls on the last Business Day of a month.