Land Rent Sample Clauses
Land Rent. Land Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the Land, as measured from the outer-most limits of the leased property Premises as set forth and shown on the attached Exhibit “A”. Upon Commencement Date of this Agreement, LESSEE shall pay Land Rent to LESSOR as follows: 1 10/1/2023 - 9/30/2024 0.2410 $11,714.52 $976.21 2 10/1/2024 - 9/30/2025 0.2434 $11,831.64 $985.97 3 10/1/2025 - 9/30/2026 0.2458 $11,949.96 $995.83 4 10/1/2026 - 9/30/2027 0.2483 $12,069.48 $1,005.79 5 10/1/2027 - 9/30/2028 0.2508 $12,190.20 $1,015.85 6 10/1/2028 - 9/30/2029 0.2533 $12,312.12 $1,026.01 7 10/1/2029 - 9/30/2030 0.2558 $12,435.24 $1,036.27 8 10/1/2030 - 9/30/2031 0.2584 $12,559.56 $1,046.63 9 10/1/2031 - 9/30/2032 0.2610 $12,685.20 $1,057.10 10 10/1/2032 - 9/30/2033 0.2636 $12,812.04 $1,067.67 11 10/1/2033 - 9/30/2034 0.2662 $12,940.08 $1,078.34 12 10/1/2034 - 9/30/2035 0.2689 $13,069.56 $1,089.13 13 10/1/2035 - 9/30/2036 0.2716 $13,200.24 $1,100.02 14 10/1/2036 - 9/30/2037 0.2743 $13,332.24 $1,111.02 15 10/1/2037 - 9/30/2038 0.2770 $13,465.56 $1,122.13 16 10/1/2038 - 9/30/2039 0.2798 $13,600.20 $1,133.35 17 10/1/2039 - 9/30/2040 0.2826 $13,736.16 $1,144.68 18 10/1/2040 - 9/30/2041 0.2854 $13,873.56 $1,156.13 19 10/1/2041 - 9/30/2042 0.2883 $14,012.28 $1,167.69 20 10/1/2042 - 9/30/2043 0.2912 $14,152.44 $1,179.37 Facility Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the structures, and appurtenances thereto, upon the Land as measured from the outer-most vertical surfaces of the structures as set forth and shown on the attached Exhibit “A”. Facility Rent for all facilities shall commence on May 1, 2032 and shall be set at the then-current market rent of such facilities, structures, fixtures and improvements as determined by a single independent third-party licensed and accredited commercial property appraiser with aviation and airport property market experience. The appraiser shall be selected by agreement of the Parties.
Land Rent. Tenant shall pay to City monthly rent of per month, beginning and on the first (1st) day of each month thereafter during the term of this Lease Rent shall be adjusted on October 1st each year by the greater of five percent (5%) or pursuant to the annual increase of the Municipal Cost Index as of the latest date it was published prior to October 1st City may give a courtesy notice of any increase annually; however, failure to give such notice does not relieve Tenant of the obligation to pay such increases. Rent shall be prorated for any partial month.
Land Rent. Rent on surface and subsurface land (excluding Wharf Area), per Compensation Year, in the amount of Four Million, Five Hundred and Forty Nine Thousand, and Forty One Dollars and Fifty Cents ($4,549,041.50), which shall be due in equal quarterly installments;
Land Rent. Rent may be mailed to 000 Xxxxxxxxx Xxxx, Xxxxxxxxxx,XX 00000 or in rent boxes provided at each park.
Land Rent. LESSEE shall pay to LESSOR Land Rent for the Premises described in Section 2 PREMISES. The Land Rent shall be calculated as follows: Effective Dates Rate Per Sq. Ft. Annual Monthly 02/01/2023 - 12/31/2025 $.5262 $73,668.00 $6,139.00 Land Rent terminates on December 31, 2025 to be replaced by payment of the higher of either the Concession Fee or Minimum Annual Guarantee.
Land Rent. Article 5, “Rental” of the original Agreement, and Article 3, “Land Rent” of Supplemental Agreement No. 3, is hereby deleted in entirety, and replaced with the following language: Land rental during the term of this Agreement shall be modified as follows: 11/01/2011 - 10/31/2016 .1982 $9,922.49 $ 826.87 11/01/2016 - 10/31/2021 .2081 $10,418.11 $ 868.18
Land Rent. Base rent ("Rent") is due and payable without reduction or offset on the first day of each month during the term of this Lease and all renewals thereto in the amounts set forth in Exhibit "B" attached hereto and incorporated herein by reference. In the event Tenant fails to pay any installment of rent or other sum due hereunder when due, to help defray the additional cost to Landlord for processing such late payments, Tenant shall pay to Landlord on demand a late charge in an amount equal to five percent (5%) of such installment; and the failure to pay such late charge within ten (10) days after demand therefor shall be a default hereunder. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be construed as liquidated damages or as limiting Landlord's remedies.
Land Rent. Beginning on the Effective Date and continuing throughout the Initial Term and any Renewal Terms, Seaboard agrees to pay one dollar ($1.00) per square foot annually on all land in the Terminal Area paid in monthly installments subject to an annual increase of not more than three percent (3%), starting on October 1, 2009. If for any reason the County does not increase the Land Rental Rate in any given Fiscal Year(s), the County may thereafter add the amount of such allowed (but not imposed) annual increase in later years but only in the then current term. For example, if the County elects not to impose a Land Rental Rate increase in Fiscal Years two or three, in Fiscal Year four the County could impose a Land Rental Rate increase of approximately
Land Rent. Because Land Lot 1 and Land Lot 2 had previously been granted land rent exemptions by the Xxxxx Xxxx EZA and Xxxxx Xxxx Department of Tax, in order for Texhong Industrial Park to transfer the land use rights of the Land and the assets attached thereto, as disclosed in the Circular and as advised by the Group’s Vietnam legal advisers, it would be necessary to first make full payment of land rent on both lots of Land according to the applicable land laws by repealing the grant of land rent exemption and replacing it with another decision on collecting and calculating the land rent. Such land rent would need to be paid by Texhong Industrial Park in full before the transfer. However, because the licensing procedures for adjudicating the land rent payable and amending or repealing the previous grant of land rent exemptions are unclear and depend on the opinion and internal process of the competent authorities in the Xxxxx Xxxx Province, it is currently unclear the amount of land rent that would be payable and precisely when such adjustment will be completed. As advised by the Group’s Vietnam legal advisers, the maximum amount of land rent exempted on both lots of Land would be approximately USD1,398,000. STEPS TAKEN TO PROCURE THE REGISTRATION SINCE 31 MARCH 2023 Land Lot 1 The Group’s Vietnam legal advisers had previously advised that, because no formal opinion on the use of land has been expressed by the Xxxxx Xxxx EZA for Land Lot 1, it would be prudent to make an application to change the function of Land Lot 1 before proceeding with the Registration. To this end, bids had been submitted to the Xxxxx Xxxx EZA to select a consulting unit for changing the function as shown in the master plan in respect of Land Lot 1; an appraisal council for the master plan of urban and construction planning has been established under the approval authority of the Xxxxx Xxxx People’s Committee; and the application for approval of the task of adjusting the master plan had been submitted to the Xxxxx Xxxx People’s Committee. As at the date of this announcement, the Xxxxx Xxxx People’s Committee is still considering the application for approval of the task of adjusting the master plan and no decision on approval of the task of adjusting the master plan has been rendered yet. In addition, certain certificates of land use rights in respect of the Land have been applied for and re-issued to include certain assets attached on Land Lot 1 so as to comply with the applicable real estat...