Ground Lease Rent. If the Property is subject to a Ground Lease where a Seller pays rent, then at the Closing (a) if such Ground Lease rents are payable after the Closing Date for a period before the Closing Date, the Sellers shall pay to the Buyer on the Closing Date an amount equal to the amount of such Ground Lease rents allocated to the period before the Closing Date, prorated on a per diem basis, and (b) if such Ground Lease rents were paid before the Closing Date for a period from and after the Closing Date, the Buyer shall pay to the Sellers an amount equal to the amount of such Ground Lease rents reasonably allocated to the period from, including and after the Closing Date, prorated on a per diem basis.
Ground Lease Rent. On each anniversary of the GL Effective Date, BNPLC shall make a payment to Lessor of rent for the then preceding year ("GROUND LEASE RENT"), in currency that at the time of payment is legal tender for public and private debts in the United States of America. Each such payment of Ground Lease Rent shall equal the Fair Rental Value, determined as provided in Annex 4.
Ground Lease Rent. The rent required by this Ground Lease (herein called “Ground Lease Rent”) will equal the Fair Rental Value, determined as provided in Exhibit D, and be paid as follows: Prior to the Completion Date, BNPPLC must pay Ground Lease Rent to NAI on the first Business Day of every calendar month for the preceding month. Consistent with the agreement of the parties in Exhibit D that the initial Fair Rental Value is $300,000 per annum, and each such required monthly payment prior to the Completion Date is $25,000. (Notwithstanding the forgoing, as was agreed by the parties for administrative convenience at the time of the execution of the Prior Ground Lease, BNPPLC has already prepaid all of the Ground Lease Rent expected to accrue prior to the Completion Date, rather than pay it monthly on the first Business Day of each month.) After the Completion Date, Ground Lease Rent will be paid annually in arrears on each anniversary of the Effective Date. So long as the Lease continues, each such payment by BNPPLC may be offset against the reimbursement for such payment required of NAI by the Lease. After the Lease expires or terminates, however, BNPPLC’s obligation for the payment of Ground Lease will continue so long as this Ground Lease continues, on and subject to the terms and conditions set forth herein. 4 Receipt and Application of Insurance and Condemnation Proceeds. All insurance and condemnation proceeds payable with respect to any damage to or taking of the Leased Property will be payable to and become the property of BNPPLC; provided, however, NAI will be entitled to receive condemnation proceeds awarded for the value of NAI’s remainder interest in the Land exclusive of the Improvements. BNPPLC is authorized to take all action necessary on behalf of both BNPPLC and NAI (as lessor under this Ground Lease) to collect insurance and condemnation proceeds.
Ground Lease Rent. On each anniversary of the Effective Date, BNPPLC shall make a payment to Specialty Laboratories of rent for the then preceding year (herein called "Ground Lease Rent"), in currency that at the time of payment is legal tender for public and private debts in the United States of America. Each such payment of Ground Lease Rent shall equal the Fair Rental Value, determined as provided in Exhibit C.
Ground Lease Rent. Section 2 of the First Amendment is hereby deleted in its entirety and replaced with the following:
Ground Lease Rent. Ground Lease rent for the month in which the Initial Closing Date occurs shall be prorated as of the Initial Closing Date.
Ground Lease Rent. Ground Lease rent for this month shall be prorated as of the date hereof.
Ground Lease Rent. In addition to any other rental obligations hereunder, Tenant shall pay directly to Ground Lessor all Ground Lease Rent required to be paid pursuant to the terms of the Ground Lease.
Ground Lease Rent. Rent, charges, and pass through fees and assessments payable by the Ground Lease Seller, as ground lessee, under the Ground Lease for the month in which title closes.
Ground Lease Rent. Periodic rent due under the Ground Leases, if any, shall be prorated at Closing but paid as and when actually due.
