Facility Rent. The Facility Rent payable by 49ers Stadium Company in the amount of Five Million Dollars ($5,000,000).
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.
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. 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 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 accrued and unpaid. In addition, the Lessee agrees to pay as Facility Rent an amount equal to the Lessor's Breakage Costs in the event of the imposition of such Lessor's Breakage Costs.
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. 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. 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. Tenant shall pay facility rent (“Facility Rent”) of Twenty Thousand Five Hundred Dollars ($20,500.00) per month, which shall be payable in seven and one-half (7.5) monthly payments between and including September and April 15 of each year of the Term which shall be due on or before the tenth (10th) day of the month immediately following the applicable Lease Month. This includes personnel maintenance and operations, housekeeping, and overhead. Commencing on the first annual anniversary of the Commencement Date, and for each annual anniversary thereafter, the annual Facility Rent shall be increased to (“New Facility Rent Amount”) determined by the “CPI formula” per Item 5.6.
Facility Rent. During the Term, 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. If the Effective Date is a Day other than the first Day of a calendar month, then the first installment payment for Agreement Year 1 shall be prorated based on the number of Days occurring between the Effective 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. The payment due for any month where a rate changes (e.g., where the rate changes form Agreement Year 2 to Agreement Year 3) shall be prorated based on the amount of Days the applicable rates are in effect.
Facility Rent. Section 3 of the original Agreement, dated October 16, 2018, shall add the following table: BASIC RENT Suite 500 Total of 978 sq. ft. Term Year Rate Per Sq. Ft. Annual Monthly Third Option Term 10/1/2021 - 9/30/2022 $13.00 $12,714.00 $1,059.50 Fourth Option Term 10/1/2022 - 9/30/2023 $13.00 $12,714.00 $1,059.50 Fifth Option Term 10/1/2023 - 9/30/2024 $13.39 $13,095.42 $1,091.29
