Increases to Minimum Rent. On each anniversary of the Commencement Date (each such annual date individually referred to as the "Adjustment Date") throughout the Initial Term and any Extended Terms, the then-current Minimum Rent shall be increased annually effective as of such Adjustment Date by the increase in the Consumer Price Index from the Commencement Date to the first Adjustment Date and, thereafter, from one Adjustment Date to the then-current Adjustment Date; however, with the exception of the first year of each Extended Term, in no event will the annual change in the Minimum Rent be less than two percent nor more than five percent of the Minimum Rent for the prior year.
Appears in 2 contracts
Samples: Lease Agreement (Integrated Living Communities Inc), Agreement (Integrated Living Communities Inc)
Increases to Minimum Rent. On each anniversary of the Commencement ------------------------- Date (each such annual date individually referred to as the "Adjustment Date") throughout the Initial Term and any Extended TermsTerm, the then-current Minimum Rent shall be increased annually effective as of such Adjustment Date by the increase in the Consumer Price Index from the Commencement Date to the first Adjustment Date and, thereafter, from one the prior Adjustment Date to the then-current Adjustment Date; however, with the exception of the first year of each Extended Term, provided that in no event will the annual change in the Minimum Rent be less than two percent nor more than five percent 3.5% of the Minimum Rent for the prior year.
Appears in 2 contracts
Samples: Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\)
Increases to Minimum Rent. On each anniversary of the Commencement Date (each such annual date individually referred to as the "βAdjustment Date"β) throughout the Initial remainder of the Fixed Term and any Extended Terms, the then-current Minimum Rent shall be increased annually effective as of at such Adjustment Date by the increase in the Consumer Price Index from the Commencement Date to the first Adjustment Date and, thereafter, from one Adjustment Date to the then-current Adjustment Date; however, with the exception of the first year of each Extended Term, in no event will the annual change in the Minimum Rent provided that such increase shall not be greater than five percent nor less than two percent nor more than five percent of the Minimum Rent for the prior yearpercent.
Appears in 2 contracts
Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)
Increases to Minimum Rent. On each anniversary of the Commencement Date (each such annual date individually referred to as the "Adjustment Date") throughout the Initial Term and any Extended TermsTerm, the then-current Minimum Rent shall be increased annually effective as of such Adjustment Date by the increase in the Consumer Price Index from the Commencement Date to the first Adjustment Date and, thereafter, from one Adjustment Date to the then-current Adjustment Date; however, with the exception of the first year of each Extended Term, provided that in no event will the annual change in the Minimum Rent be less than two percent nor more than five percent 3.5% of the Minimum Rent for the prior year.
Appears in 1 contract
Samples: Lease Agreement (Emeritus Corp\wa\)