Initial Term Rent. During the Initial Term, “Minimum Rent” is $626,331.84 annually, payable in advance in twelve (12) equal monthly installments. Commencing with the second (2nd) Lease Year and continuing thereafter during the Term (excluding the first Lease Year of any Renewal Term), Tenant agrees to pay “Additional Rent” to Landlord monthly in advance together with the payment of Minimum Rent. Such Additional Rent (which shall be expressed as an annual amount but shall be payable in equal monthly installments) shall be equal to the sum of (A) the Additional Rent (if any) due for the immediately preceding Lease Year and (B) the product of (i) the Minimum Rent and Additional Rent due for the immediately preceding Lease Year and (ii) the percentage increase, if any, in the CPI (as herein defined) from the first day of the immediately preceding Lease Year to the last day of the immediately preceding Lease Year. Tenant shall pay the Additional Rent to Landlord for the period of time elapsing between the anniversary date and notice of such increase upon request by Landlord. Thereafter the increase shall be payable equally with the regular Minimum Rent payments. In no event shall a decrease in the CPI result in a decrease in the Minimum Rent and Additional Rent payable under the terms of this Master Lease.
Initial Term Rent. During the Initial Term, “Rent” shall be as follows: Sublease Year Rent Per Month Year 1 $65,000.00 Year 2 $66,000.00 Year 3 $67,000.00 Year 4 $68,000.00 Year 5 $69,000.00 HNZW//3583-1
Initial Term Rent. (a) During the Initial Term, the annual "Minimum Rent" shall be an amount equal to the sum of (I) Landlord's Camelot Investment multiplied by eight and sixty one-hundredths percent (8.60%), and (II) Landlord's Lakeview/HillenVale Investment multiplied by eight and seventy one-hundredths percent (8.70%) (the "Lease Rate"), payable in advance in twelve (12) equal monthly installments. Commencing with the second (2nd) Lease Year and continuing thereafter during the Term (excluding the first Lease Year of any Renewal Term), Tenant agrees to pay "Additional Rent" to Landlord monthly in advance together with the payment of Minimum Rent. Such Additional Rent (which shall be expressed as an annual amount but shall be payable in equal monthly installments) shall be equal to the sum of (i) the Additional Rent for the immediately preceding Lease Year and (ii) the product of (A) the Minimum Rent and Additional Rent due for the immediately preceding Lease Year and (B) the lesser of (x) three percent (3.0%) or (y) a percentage equal to five (5) times the percentage increase (the "CPI Increase") in the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for All Urban Wage Earners and Clerical Workers, United States Average, Subgroup "All Items" (1982 –1984 = 100) (the "CPI"). In no event shall the CPI Increase be a negative number. The applicable CPI Increase shall be calculated annually for each Lease Year by comparing the CPI in effect on the first calendar day of the Lease Year for which Additional Rent is being calculated to the first calendar day of the immediately preceding Lease Year.
Initial Term Rent. (a) During the Initial Term, subject to the redetermination thereof pursuant to Section 2.2, “Minimum Rent” is Thirty-One Million Five Hundred Eighty-Two Thousand One Hundred Eighty-One Dollars ($31,582,181) per Lease Year, payable in advance in twelve (12) equal monthly installments. Commencing with the second (2nd) Lease Year and continuing thereafter during the Term (excluding the eighth (8th) Lease Year of the Initial Term and the first (1st) Lease Year of any Renewal Term as further provided in Section 2.2), Tenant agrees to pay “Additional Rent” to Landlord monthly in advance together with the payment of Minimum Rent. Such Additional Rent (which shall be expressed as an annual amount but shall be payable in equal monthly installments) shall be equal to the sum of (a) the Additional Rent for the immediately preceding Lease Year and (b) the product of (i) the Minimum Rent and Additional Rent due for the immediately preceding Lease Year and (ii) the lesser of (x) three percent (3.0%) or (y) a percentage equal to five (5) times the CPI Increase. During the Initial Term (but not during any Renewal Term), Tenant shall also pay “Supplemental Rent,” which shall be calculated on a quarterly basis in an amount equal to the Applicable Percentage of Revenue, multiplied by Revenue for the applicable fiscal quarter. Supplemental Rent shall be due and payable as follows: (A) during each of the first two (2) Lease Years (each an “Accrual Year”), Supplemental Rent shall accrue but shall not be payable; (B) in the third (3rd) Lease Year, in addition to amounts payable pursuant to the following clause (C), Tenant shall pay the aggregate amount of Supplement Rent for the first two (2) Lease Years accrued in accordance with the preceding clause (A) in twelve (12) equal monthly installments, which shall be payable with each payment of Minimum Rent during such Lease Year, and (C) in each Lease Year during the Initial Term commencing with the third (3rd) Lease Year, Tenant shall pay Supplemental Rent for each fiscal quarter within thirty (30) days after the end of such quarter, provided that Landlord may, in its sole and absolute discretion, allow Tenant to defer payment of all or a portion of the Supplemental Rent payable in the third (3rd) Lease Year until the fourth (4th) Lease Year, in which case the aggregate amount deferred shall be payable in twelve (12) equal monthly installments in the fourth (4th) Lease Year, each payable with each payment of Minimum Rent during s...
Initial Term Rent. Tenant agrees to pay to Landlord in advance on or before the first day of each month in United States currency the following sums as “Rent” during the Initial Term of this Lease:
Initial Term Rent a. XXXXXX agrees that, during years 1-5 of the Initial Term of this Agreement, it will pay an annual rent of One Thousand One Hundred Fifty-five and 00/100 Dollars ($1,155.00) calculated at the rate of Twenty-two cents ($0.22) per square foot per annum multiplied by a total square footage of Five Thousand Two Hundred and Fifty (5,250) square feet. Rent will be paid in equal monthly installments, commencing on the Effective Date, and payable thereafter on the first day of each calendar month. Failure by the LESSEE to pay its rental obligations under this Agreement within ten calendar days after such rental obligation is due, shall be considered a material breach, and subject this lease to termination by the CITY. During years 6-10 of the Initial Term of this Agreement, LESSEE will pay an annual rate of One Thousand Three Hundred Sixty-five and 00/100 Dollars ($1,365.00) calculated at the rate of Twenty-six cents ($0.26) per square foot per annum multiplied by a total square footage of Five Thousand Two Hundred and Fifty (5,250) square feet. Rent will continue to be paid in equal monthly installments payable on the first day of each calendar month during the remaining Initial Term of this Agreement.
Initial Term Rent. During the Initial Term, “Minimum Rent” is $3,318,476.49 annually, payable in advance in twelve (12) equal monthly installments. Commencing with the second (2nd) Lease Year and continuing thereafter during the Term (excluding the first Lease Year of any Renewal Term), Tenant agrees to pay “Additional Rent” to Landlord monthly in advance together with the payment of Minimum Rent. Such Additional Rent (which shall be expressed as an annual amount but shall be payable in equal monthly installments) shall be equal to the sum of (a) the Additional Rent for the immediately preceding Lease Year, and (b) the product of (i) the Minimum Rent and Additional Rent (if any) due for the immediately preceding Lease Year and (ii) three percent (3.0%).
Initial Term Rent. During the Initial Term, “Rent” shall be as follows: Time Period Rent Per Month 10/01/2015 through 03/31/2016 $25,000.00 04/01/2016 through 12/31/2016 $27,000.00 01/01/2017 through 12/31/2017 $29,000.00 01/01/2018 through 12/31/2018 $31,000.00 Commencing on January 1, 2019 and continuing on January 1 of each subsequent calendar year during the Initial Term, Rent shall increase by two percent (2%) over the Rent paid during the preceding calendar year.
Initial Term Rent. Tenant shall pay to Landlord, at Xxxxxxxx’s address as indicated below or as otherwise directed by Xxxxxxxx, in writing, from time to time, as rent (“Base Rent”) the annual sum of Two Hundred Sixty Thousand Nine Hundred Seven and 00/100 Dollars ($260,907.00) payable in twelve equal monthly installments of Twenty One Thousand Seven Hundred Forty Two and 25/100 Dollars ($21,742.25) as set forth in Schedule 1 attached hereto and incorporated herein commencing on the Commencement Date, and payable on or before the first day of each month thereafter during the Term of this Lease.
Initial Term Rent. In consideration of the public benefit derived from LESSEE’S operations under this Lease, the Rent for Term, including any Option Periods, shall be as defined above, on an annual basis. LESSEE shall pay Rent, if any is due and not deferred as provided below, by March 30 after the calendar year in which it is earned. LESSEE will keep records pertaining to all Operating Revenue collected and Operating Expenses from LESSEE’S operations on the Premises. Payment of Rent is deferred to the extent LESSEE spends such Rent on Tenant Improvements to the Premises in accordance with Section 7 of this Lease, or LESSEE creates a reserve account for planned improvements or operations of the Premises. All interest accruing on the funds in the reserve account are also Rent. LESSEE shall provide to COUNTY the annual report described in section 12(b). In the event this Lease terminates for any reason while there are funds in the reserve account, then such funds shall be used first to pay Operating Expenses of LESSEE incurred prior to the effective date of the termination, second to pay costs of Tenant Improvements approved and incurred (and which could not be reasonably avoided) prior to the effective date of Termination, and third paid to County as Rent.
