INITIAL TERM MINIMUM RENT. 2.1.1 Tenant shall pay to Landlord annual Minimum Rent which is equal to (i) $473,833.36 during the first twelve (12) month period of the Initial Term, and (ii) $485,833.36 during the next succeeding twelve (12) month period. All such Minimum Rent (as the same may be adjusted as hereinafter provided) shall be paid in equal monthly installments on the twenty-fifth (25") day of each calendar month.
INITIAL TERM MINIMUM RENT. During the Initial Term, the Minimum Rent shall accrue or be paid to Landlord by Tenant monthly in advance and shall be calculated as follows:
INITIAL TERM MINIMUM RENT. During the Initial Term, "MINIMUM RENT" per Lease Year is equal to Landlord's Investment (as defined below) multiplied by the Initial Term Applicable Rate. The "INITIAL TERM APPLICABLE RATE" for each Lease Year (or portion thereof) shall be (A) the Initial Term Base Rate (as defined below) for the portion of the Lease Year from the Effective Date to December 31, 2002, (B) the Initial Term Base Rate plus the CPI Increase (as defined below), not to exceed 30/100ths of one percent (.30%), for the first (1st) Lease Year, (C) the Initial Term Applicable Rate in effect in the immediately preceding Lease Year plus the CPI Increase, not to exceed 30/100ths of one percent (.30%), for the second (2nd) through the fourth (4th) Lease Years, and (D) the Initial Term Applicable Rate in effect in the immediately preceding Lease Year plus the CPI Increase, not to exceed 25/100ths of one percent (.25%), for the fifth (5th) Lease Year and each Lease Year thereafter during the Initial Term. The "INITIAL TERM BASE RATE" shall be equal to eleven and one-half percent (11.5%). The "CPI INCREASE" shall be calculated annually by comparing the CPI (as defined below) in effect on the first calendar day of the immediately preceding Lease Year (or calendar year with respect to the first (1st) Lease Year) to the first calendar day of the then current Lease Year and multiplying by three (3). The "CPI" shall mean the Consumer Price Index for All Urban Wage Earners and Clerical Workers, United States Average, Subgroup "All Items" (1982 - 1984 = 100), as published by the United States Department of Labor, Bureau of Labor Statistics, or similar index if the same becomes unavailable.
INITIAL TERM MINIMUM RENT. During the Initial Term, Tenant shall pay to Landlord Minimum Rent of NINETEEN MILLION TWO HUNDRED THIRTY-THREE THOUSAND DOLLARS ($19,233,000) annually. Such Minimum Rent with respect to each month shall be paid in advance and in equal monthly installments of ONE MILLION SIX HUNDRED TWO THOUSAND SEVEN HUNDRED FIFTY DOLLARS ($1,602,750) on the first business day of each such calendar month. Upon the disbursement of CapEx Funds by Landlord pursuant to Section 8.3(b), the annual Minimum Rent shall be increased as provided therein, which increased Minimum Rent shall be due and payable by Tenant on the first business day of each calendar month. 9393.9 (NHP Portfolio Lease)
INITIAL TERM MINIMUM RENT. During the first Lease Year of the Initial Term Tenant shall pay to Landlord Minimum Rent of $407,247 annually. During the second and all subsequent Lease Years of the Initial Term Tenant shall pay to Landlord Minimum Rent of $419,464 annually. Such Minimum Rent shall be paid in advance on the first business day of each calendar month in equal monthly installments of $33,937.25 each during the first Lease Year of the Initial Term and $34,955.33 each during the second and all subsequent Lease Years of the Initial Term. If Landlord funds any additional improvements pursuant to Section 5.7 below, during the first Lease Year such annual Minimum Rent shall be increased by an amount equal to nine and 362/1000 percent (9.362%) of the amount advanced by Landlord with a corresponding increase to the monthly payment amount, and during all subsequent Lease Years of the Initial Term such annual Minimum Rent shall be increased by an amount equal to nine and 643/1000 percent (9.643%) of the amount advanced by Landlord with a corresponding increase to the monthly payment amount.
INITIAL TERM MINIMUM RENT. During the Initial Term, "MINIMUM RENT" per Lease Year is equal to Landlord's Investment (as defined below) multiplied by the Initial Term Applicable Rate. The "INITIAL TERM APPLICABLE RATE" for each Lease Year (or portion thereof) shall be (A) the Initial Term Base Rate (as defined below) for the portion of the Lease Year from the Effective Date to December 31, 2002, (B) the Initial Term Base Rate plus
INITIAL TERM MINIMUM RENT. During the Initial Term, Tenant shall pay to Landlord Minimum Rent of Twelve Million Four Hundred Eight Thousand Dollars ($12,408,000) annually. Such Minimum Rent with respect to each month shall be paid by wire transfer in advance and in equal monthly installments of One Million Thirty-Four Thousand Dollars ($1,034,000) on the first business day of each such calendar month."
INITIAL TERM MINIMUM RENT. During the Initial Term, Tenant shall pay to Landlord Minimum Rent of (a) Nine Million Eight Hundred Twenty-Eight Thousand Seven Hundred Fifty Dollars ($9,828,750) annually for each Lease Year through and including the Lease Year ending June 30, 2011, and (b) Nine Million Six Hundred Forty-Two Thousand Seven Hundred Fifty Dollars ($9,642,750) annually for each Lease Year thereafter, plus, in any Lease Year in which due, Development Rent (as defined below) as provided in Section 2.1.3. Such Minimum Rent with respect to each month shall be paid by wire transfer in advance and in equal monthly installments of (x) Eight Hundred Nineteen Thousand Sixty-Two and 50/100 Dollars ($819,062.50) for each month in each Lease Year through and including the Lease Year ending June 30, 2011, and (y) Eight Hundred Three Thousand Five Hundred Sixty-Two and 50/100 Dollars ($803,562.50) for each month in each Lease Year thereafter, plus any Development Rent then due pursuant to Section 2.1.3, on the first business day of each such calendar month.”
INITIAL TERM MINIMUM RENT. During the Initial Term, Tenant shall pay to Landlord Minimum Rent of (a) Eight Million Eight Hundred Ninety-Eight Thousand Dollars ($8,898,000) annually for each Lease Year through and including the Lease Year ending June 30, 2011, and (b) Eight Million Seven Hundred Sixty-Six Thousand Dollars ($8,766,000) annually for each Lease Year thereafter. Such Minimum Rent with respect to each month shall be paid in advance on the first (1st) business day of each such calendar month by wire transfer and in equal monthly installments of (x) Seven Hundred Forty-One Thousand Five Hundred Dollars ($741,500) for each month in each Lease Year through and including the Lease Year ending June 30, 2011, and (y) Seven Hundred Thirty Thousand Five Hundred Dollars ($730,500) for each month in each Lease Year thereafter. As used herein, "LEASE YEAR" shall be defined as the twelve (12) month periods commencing on July 1 and ending on June 30 of each year of the Term.
INITIAL TERM MINIMUM RENT. During the Initial Term, the Minimum Rent shall be paid to Landlord by Tenant monthly in advance. Tenant shall pay to Landlord Minimum Rent according to the schedule on Exhibit "E" attached hereto, payable in advance on the first business day of each calendar month. Such monthly amount is referred to herein as the "INITIAL TERM MINIMUM RENT."
