Common use of Interim Rent Clause in Contracts

Interim Rent. Lessee shall pay rent for each Unit ("Interim Rent") for each day of its Interim Term. Interim Rent shall be computed on the full amount of the Purchase Price of the Unit at a rate per annum equal to the Reference Rate. Interim rent is determined, in part, on the basis of a 360-day year and actual days elapsed which results in a higher rent than if a 365-day year is used. Interim Rent is due and payable when billed by Lessor.

Interim Rent. Lessee shall pay rent for each Unit ("Interim Rent") for ------------ each day of its Interim Term. Interim Rent shall be computed on the full amount of the Purchase Price of the Unit at a daily rate per annum equal to the Reference Ratedaily equivalent of the Unit's Base Rent. Interim rent is determined, in part, on the basis of a 360-day year and actual days elapsed which results in a higher rent than if a 365-day year is used. Interim Rent is due and payable when billed by Lessor.