Common use of Fixed Rental Payments Clause in Contracts

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three Hundred Fifty Thousand Dollars ($1,350,000) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- annual installment is made. The first rental installment shall be due no earlier than June 30 of the year following the year if the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 and December 31 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

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Fixed Rental Payments. The Lessee agrees to pay rental for the Public Leased Premises at a rate per year during the term of the Public Lease not to exceed One Million Three Nine Hundred Fifty Fifteen Thousand Dollars ($1,350,000915,000) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Public Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the 2024D Bonds, but not earlier than , 202 . Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Public Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Public Lease. After the sale of the 2024D Bonds, the annual rental shall be reduced to an amount which, together with lease rentals payable by the Lessee under the Garage Lease, is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Public Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Public Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the 2024D Bonds, and such endorsement shall be recorded as an addendum to this Public Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 2 contracts

Samples: Public Lease, Public Lease

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million [Three Hundred Fifty Seventy-Five Thousand Dollars ($1,350,000) 375,000)] payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the Bonds, but not earlier than [ ]. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount which is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 2 contracts

Samples: Lease, Lease

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three One Hundred Fifty Thousand Dollars ($1,350,0001,150,000) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the Bonds, but not earlier than July 15, 2019. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount which, together with lease rentals payable by the Lessee under the Garage Lease, is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 2 contracts

Samples: Lease, Lease

Fixed Rental Payments. The Lessee agrees to pay rental for fixed annual rentals (the Leased Premises at a rate per year “Fixed Annual Rentals”) in the maximum amount of One Million Forty Thousand Dollars ($1,040,000) during the term of the Lease not to exceed One Million Three Hundred Fifty Thousand Dollars ($1,350,000) Lease, payable in semi-annual semiannual installments. Each such semi-annual semiannual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- annual semiannual installment is made. The first rental installment shall be due no earlier than on June 30 15 or December 15, determined on the date of the year following the year if the issuance of the Bonds, but not earlier than June 15, 2025, or upon completion of the Garage Project, whichever is later. Thereafter, such rental shall be payable in advance in semi-annual semiannual installments on June 30 15 and December 31 15 of each year. The last semi-annual semiannual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly annual rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the BondsBonds to finance the Garage Project, the annual rental Fixed Annual Rentals provided for above shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing ending each year on June 30 January 1 (“Bond Year”) rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in equal semi-annual installments, commencing no sooner than June 15, 2025. In addition, each such reduced semi- annual semiannual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental Fixed Annual Rentals shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of The date the semi-annual rental payments Garage Project is completed and ready for use and occupancy shall commence also be endorsed on this Lease on the later of (1) the date the Leased Premises is acquired end hereof by the Lessor, or (ii) a date Lessor and the Lessee as soon as possible after such completion and such endorsement shall be recorded with the County Recorder as an addendum to be determined at the time of the sale of the Bonds, but no earlier than , 20 this Lease.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Two Million Three Hundred Fifty Thousand Dollars ($1,350,000) 2,350,000), payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- annual installment is made. The first rental installment shall be due no earlier than June 30 December 15 of the year following the year if of the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 15 and December 31 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Two Million Three Five Hundred Fifty Thousand Dollars ($1,350,0002,500,000) payable in semi-annual installments. Each such semi-semi- annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year following the year if the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 and December 31 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million [Three Hundred Fifty Seventy-Five Thousand Dollars ($1,350,000) 375,000)] payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the Bonds, but not earlier than [ ]. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount which is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three Six Hundred Fifty Thousand Dollars ($1,350,000600,000) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year following the year if the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 and December 31 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three [Six Hundred Fifty Seventy- Five Thousand Dollars ($1,350,000) 675,000)], payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year July 1 or January 1 following the year if date of the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 July 1 and December 31 of January 1of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 1 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Commencing June 15, 2024 through the later of December 15, 2047 the Lessee agrees to pay lease rental payments for the use and occupancy of the Leased Premises at a rate per year during the term of the Lease not to exceed One Two Million Three Five Hundred Fifty Thousand Dollars ($1,350,000) 2,500,000), payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of Because the Leased Premises which were completed in the year 2022 and are available ready for use occupancy and occupancy by use, the Lessee at the time such semi- annual installment is made. The first full rental installment shall be due no earlier than on June 30 of the year following the year if the issuance of the Bonds15, 2024. Thereafter, such Such rental shall be payable in advance in semi-annual installments on June 30 15 and December 31 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing ending each year on June 30 December 15, rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars (together with annual trustee and administrative fees in the amount of $5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Leased Premises which are available complete and ready for use by the Lessee at the time such semi-annual semiannual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three Hundred Fifty Thousand Dollars ($1,350,000) $ ), payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year following the year if the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 and December 31 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual semi0annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than June 30, 20 2019.

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three Hundred Fifty Thousand Dollars ($1,350,000$ ) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the Bonds, but not earlier than June 15, 2019. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount which is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease

Fixed Rental Payments. The Commencing June 15, 2024 through the later of December 15, 2047 the Lessee agrees to pay lease rental payments for the use and occupancy of the Leased Premises at a rate per year during the term of the Lease not to exceed One Two Million Three Five Hundred Fifty Thousand Dollars ($1,350,000) 2,500,000), payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of Because the Leased Premises which were completed in the year 2022 and are available ready for use occupancy and occupancy by use, the Lessee at the time such semi- annual installment is made. The first full rental installment shall be due no earlier than on June 30 of the year following the year if the issuance of the Bonds15, 2024. Thereafter, such Such rental shall be payable in advance in semi-annual installments on June 30 15 and December 31 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing ending each year on June 30 December 15, rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars (together with annual trustee and administrative fees in the amount of $5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available complete and ready for use by the Lessee at the time such semi-annual semi­annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

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Fixed Rental Payments. The Commencing June 15, 2024 through the later of December 15, 2047 the Lessee agrees to pay lease rental payments for the use and occupancy of the Leased Premises at a rate per year during the term of the Lease not to exceed One Two Million Three Five Hundred Fifty Thousand Dollars ($1,350,000) 2,500,000), payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of Because the Leased Premises which were completed in the year 2022 and are available ready for use occupancy and occupancy by use, the Lessee at the time such semi- annual installment is made. The first full rental installment shall be due no earlier than on June 30 of the year following the year if the issuance of the Bonds15, 2024. Thereafter, such Such rental shall be payable in advance in semi-annual installments on June 30 15 and December 31 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing ending each year on June 30 December 15, rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars (together with annual trustee and administrative fees in the amount of $5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available complete and ready for use by the Lessee at the time such semi-annual semiannual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Public Leased Premises at a rate per year during the term of the Public Lease not to exceed One Million Three Hundred Fifty Thousand _ Dollars ($1,350,000$ ) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Public Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the 2024D Bonds, but not earlier than , 202 . Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Public Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Public Lease. After the sale of the 2024D Bonds, the annual rental shall be reduced to an amount which, together with lease rentals payable by the Lessee under the Garage Lease, is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Public Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Public Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the 2024D Bonds, and such endorsement shall be recorded as an addendum to this Public Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Public Lease

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three Hundred Fifty Thousand Dollars ($1,350,000) $ ), payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year following the year if the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 and December 31 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three Six Hundred Fifty Thousand Dollars ($1,350,000600,000) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year following the year if the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 and December 31 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Million Three One Hundred Fifty Thousand Dollars ($1,350,0001,100,000) payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the Bonds, but not earlier than _ , 20 . Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount which is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed [One Million Three Hundred Fifty Five Thousand Dollars ($1,350,000) 1,005,000)] payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- annual installment is made. The first rental installment shall be due no earlier than June 30 on a July 15 or January 15, determined on the date of the year following the year if the issuance of the Bonds, but not earlier than January 15, 2017. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount which, together with lease rentals payable by the RDC under the Garage Lease, is sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a an annual rate per year during the term of the Lease not to exceed One Million Three Four Hundred Fifty Twenty Thousand Dollars ($1,350,000) 420,000), payable in semi-annual installments. Each such semi-annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises Premises, together with that portion of the Project which are available is complete and ready for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year following the year if the issuance of the Bonds. Thereafter, such Such rental shall be payable in advance in semi-annual installments on June 30 January 15 and December 31 July 15 of each year, with the first rental installment due no earlier than July 15, 2022. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 August 1, rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) together with incidental costs in each yearyear in an amount to be determined at the time the Bonds are sold for the purpose of paying annual trustee fees and related costs, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

Fixed Rental Payments. The Lessee agrees to pay rental for the Leased Premises at a rate per year during the term of the Lease not to exceed One Two Million Three Four Hundred Fifty Thousand Dollars ($1,350,000) 2,400,000), payable in semi-annual installments. Each such semi-semi- annual installment, payable as hereinafter described, shall be based on the value of the Leased Premises which are available for use and occupancy by the Lessee at the time such semi- semi-annual installment is made. The first rental installment shall be due no earlier than June 30 of the year July 15 or January 15 following the year if date of the issuance of the Bonds. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 July 15 and December 31 January 15 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on June 30 July 15 rounded up to the next One Thousand Dollars ($1,000), plus Five Thousand Dollars ($5,000) each year, payable in advance in semi-annual installments. In addition, each such reduced semi- semi-annual installment shall be based on the value of the Leased Premises which are available for use by the Lessee at the time such semi-annual installment is made. The Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit C attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. Payment of the semi-annual rental payments shall commence on the later of (1) the date the Leased Premises is acquired by the Lessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than , 20 .

Appears in 1 contract

Samples: Lease Agreement

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