INCREASE IN BASE RENT FOLLOWING CONVERSION DATE. For the Fiscal Year in which the Conversion Date occurs only as a result of the election by Transferor to receive additional Owner's Shares in the Partnership as a Contingent Purchase Price for the contribution of the Property, the Annual Base Rent shall be increased, effective as of the date the additional Owner's Shares are issued to the Transferor, to an amount equal to the Adjusted Net Operating Income.
Appears in 5 contracts
Samples: Pledge Agreement (Golf Trust of America Inc), Lease (Golf Trust of America Inc), Lease (Golf Trust of America Inc)
INCREASE IN BASE RENT FOLLOWING CONVERSION DATE. For the Fiscal Year in which the Conversion Date occurs only as a result of the election by Transferor to receive additional Owner's Shares in the Partnership as a Contingent Purchase Price for the contribution of the Propertyoccurs, the Annual Base Rent shall be increased, effective as of the date the additional Owner's Shares are issued to the Transferor, to an amount equal to the Adjusted Net Operating Income.
Appears in 4 contracts
Samples: Lease (Golf Trust of America Inc), Pledge Agreement (Golf Trust of America Inc), Contribution and Leaseback Agreement (Golf Trust of America Inc)
INCREASE IN BASE RENT FOLLOWING CONVERSION DATE. For the Fiscal Year in which the Conversion Date occurs only as a result of the election by Transferor Tenant to receive additional Owner's Shares in the Partnership as a Contingent Purchase Price for the contribution of the Property, the Annual Base Rent shall be increased, effective as of the date the additional Owner's Shares are issued to the Transferor, to an amount equal to the Adjusted Net Operating Income.
Appears in 2 contracts
Samples: Pledge Agreement (Golf Trust of America Inc), Lease (Golf Trust of America Inc)
INCREASE IN BASE RENT FOLLOWING CONVERSION DATE. For the Fiscal Year in which the Conversion Date occurs only as a result of the election by Transferor to receive additional Owner's Shares in the Partnership as a Contingent Purchase Price for the contribution of the Property, the Annual Base Rent shall be increased, effective as of the date the additional Owner's Shares are issued to the Transferor, to an amount equal to the Adjusted Net Operating IncomeIncome (as defined in EXHIBIT K to the Agreement).
Appears in 1 contract
Samples: Lease (Golf Trust of America Inc)
INCREASE IN BASE RENT FOLLOWING CONVERSION DATE. For the Fiscal Year in which the Conversion Date occurs only as a result of the election by Transferor to receive additional Owner's Shares in the Partnership as a Contingent Purchase Price for the contribution of the Property, the Annual Base Rent shall be increased, effective as of the date the additional Owner's Shares are issued to the TransferorGranite, to an amount equal to the Adjusted Net Operating Income.
Appears in 1 contract
Samples: Lease (Golf Trust of America Inc)
