INCREASE IN INITIAL BASE RENT Sample Clauses

INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter through and including the fourth (4th) Adjustment Date, the Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"); provided the July 1, 1999 increase shall be pro rated for the number of days in the Lease Term in the second quarter of 1998 divided by 365 and multiplied by the applicable Base Rent Escalator. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.
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INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 and on each January 1 thereafter through and including January 1, 2003, the Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"). If Landlord provides Tenant with the Bunker Repair Funds as provided in Section 11.5, Annual Base Rent shall increase by an amount that is 10.5% of the Bunker Repair Funds. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.
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INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter during the Term, including the Extended Term, Annual Base Rent will increase by the lesser of (i) two percent (2%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator").
Sample 1
INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter through and including the fourth (4th) Adjustment Date, the Annual Base Rent will increase by the lesser of (i) four percent (4%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"); provided that an additional amount shall be added to the first such increase (on April 1, 1999) to take into account that portion of the Lease Term existing from the Commencement Date until April 1, 1998, which additional amount shall be equal to: the product generated by multiplying the applicable Base Rent Escalator for 1999 (determined on April 1, 1999) by the number of days in the Lease Term from the Commencement Date until April 1, 1998, divided by 365. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then, for each of the five (5) years following such increase, the Annual Base Rent will be further increased by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.
Sample 1
INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter during the Term until Gross Golf Revenue for the prior Fiscal Year equals or exceeds Five Million Dollars ($5,000,000), Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred fifty percent (250%) of the change in CPI from the immediately preceding fiscal year (the "Base Escalator"). Tenant shall be permitted to defer payment of the Base Escalator until such time as Gross Golf Revenue for any Fiscal Year equals or exceeds Five Million Dollars ($5,000,000), but only if and to the extent that Net Operating Income of the Property (exclusive of Tenant's debt service to any third party under any Leasehold Financing, if any), calculated in accordance with GAAP, is negative. Any amounts so deferred shall be payable from net operating income in subsequent years, and no positive distributions shall be made to any of the members or affiliates of Tenant so long as any deferred amounts are outstanding. For purposes of the calculation of net operating income pursuant to this Section 4.2, the operating expenses shall not exceed the pro forma amounts set forth in EXHIBIT C without the approval of Landlord, which approval shall not be unreasonably withheld or delayed.
Sample 1
INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 and on each January 1 thereafter until this Lease is terminated, the Annual Base Rent will increase by five percent (5%) (the "Base Rent Escalator") of the Annual Base Rent payable for the immediately preceding year, provided the January 1, 1999 increase shall be pro rated for the number of days in the Lease Term in 1998 divided by 365 and multiplied by the applicable Base Rent Escalator. In addition to the foregoing, on the first day of each month following any disbursement by Landlord pursuant to Section 12.9, the Annual Base Rent will increase further for the remainder of the Initial Term and any Extended Term, by (i) 9% times (ii) the sum the Landlord delivered to the Tenant as reimbursement of Landlord Improvements and Additional Improvements pursuant to Section 12.9 in the prior month.
Sample 1

Related to INCREASE IN INITIAL BASE RENT

  • Increase in Insurance Premiums If an increase in any insurance premiums paid by Landlord for the Building is caused by Tenant's use of the Premises or if Tenant vacates the Premises and causes an increase in such premiums, then Tenant shall pay as additional rent the amount of such increase to Landlord.

  • Increase in Hours When additional hours are assigned to a part-time position on a regular basis, the assignment shall be offered to the employee in the appropriate class with the greatest bargaining unit seniority. If the senior employee declines the assignment, it shall be offered to the remaining employees in the class in descending order of bargaining unit seniority until the assignment is made.

  • Fee Increases S&P reserves the right to increase its fees under this Order Schedule effective on the anniversary of the Commencement Date by providing at least sixty (60) days advance written notice to Licensee prior to the expiration of the Term then in effect.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Monthly Rent a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

  • Minimum Monthly Rent (Section 1.5): Tenant shall pay to Landlord Minimum Monthly Rent for the Premises during the Extended Term in accordance with the schedule and in the amount set forth below: 01/01/13-07/31/13 $ 1,776.25 per month $ 8,645.00 per month $ 10,421.25 per month 08/01/13-07/31/14 $ 1,827.00 per month $ 8,892.00 per month $ 10,719.00 per month 08/01/14-07/31/15 $ 1,877.75 per month $ 9,139.00 per month $ 11,016.75 per month

  • Annual Base Rent Commencing on the Rent Commencement Date, and thereafter during the Term, Tenant shall pay annual base rent in the amounts set forth immediately below (the "Annual Base Rent"), which amounts shall be payable in equal monthly installments (the "Monthly Base Rent") as set forth immediately below: All installments of Monthly Base Rent shall be payable in advance, on the Rent Commencement Date and the first day of each calendar month thereafter during the Term. If the Rent Commencement Date shall be a day other than the first day of a calendar month, (1) the Annual Base Rent for the first Lease Year shall be an amount equal to the sum of (x) the amount of Monthly Base Rent for the partial month in which the Rent Commencement Date occurs, plus (y) the amount of the Annual Base Rent for the first Lease Year set forth in the rent chart above, and (2) Monthly Base Rent for such partial month shall be the prorated amount of the Monthly Base Rent payable hereunder during the first Lease Year, which proration shall be based upon the actual number of days of such partial month. The prorated Monthly Base Rent for such partial month shall be payable on the first day of the calendar month after the month in which the Rent Commencement Date occurs. As used in this Lease, the term "Lease Year" means (A) with respect to the first Lease Year, the twelve (12) full calendar month period commencing on the Rent Commencement Date (plus the number of days in any partial first month if the Rent Commencement Date is not the first day of the month), except that if the Rent Commencement Date is a date earlier than May 1, 2012, then the first Lease Year shall commence on the Rent Commencement Date and shall expire on April 30, 2013, and (B) with respect to the second Lease Year and each subsequent Lease Year thereafter, each successive period of twelve (12) full calendar months following the expiration of the first Lease Year.

  • Increase in Limits If either Lessor or Lessee at any time deems the limits of the personal injury or property damage under the comprehensive public liability insurance then carried to be either excessive or insufficient, Lessor and Lessee shall endeavor in good faith to agree on the proper and reasonable limits for such insurance to be carried and such insurance shall thereafter be carried with the limits thus agreed on until further change pursuant to the provisions of this Article 13.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Monthly Base Rent With respect to any Payment Date and any Lease Vehicle (other than a Lease Vehicle with respect to which the Disposition Date occurred during such Related Month), the “Monthly Base Rent” with respect to such Lease Vehicle for such Payment Date shall equal the pro rata portion (based upon the number of days in the Related Month with respect to such Payment Date that were included in the Vehicle Term for such Lease Vehicle) of the Depreciation Charge for such Lease Vehicle as of the last day of such Related Month calculated on a 30/360 day basis.

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