LEASE TERM AND ADJUSTMENTS Sample Clauses

LEASE TERM AND ADJUSTMENTS. The term period of this lease shall be from SEPTEMBER 1, 1992 through AUGUST 31, 1997. The base annual rent for the first year of the lease term period shall be $202,826.28 payable in monthly installments of $16,902.19 each. Said rent being subject to adjustments as follows:
Sample 1
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LEASE TERM AND ADJUSTMENTS. The term period of this lease shall be from September 1, 1997 through August 31, 1998. Landlord herewith provides Tenant an option to once extend the one year term of this lease for an additional single year period in accordance with the escalation provisions herein stipulated; items (a) through (f). In order to exercise its option, Tenant must notify Landlord, in writing, of Tenant's intent to exercise its one year renewal option at least 60 days prior to the expiration of each lease term. In the event proper and timely notification as herein specified is not executed by Tenant, Landlord shall no longer be bound by the terms and conditions of the option offer. Time and method of notification is deemed of the essence. The base annual rent for the first year of the lease term period shall be $30,600.00 payable in monthly installments of $2,550.00 each. Said base rent being subject to adjustments as follows:
Sample 1
LEASE TERM AND ADJUSTMENTS. In no event will the lease term extend beyond the end of the term of the franchise agreement between Kiddie Academy International, Inc. and Xxxxx and Xxxx Xxxxx. The term period of this eleven year lease shall begin on or about September 1, 1995 ("Commencement Date") and will end eleven (11) years from the commencement date. The Commencement Date will be the same day Landlord has completed all the scheduled work in Exhibit C of this Lease. In the event Landlord obtains a Certificate of Occupancy, Certificate of Zoning Compliance, Temporary Certificate of Occupancy or such other document allowing Tenant to apply for a license to operate a day care facility on or before August 30, 1995, Landlord will be deemed to have performed all necessary prerequisites to Tenant obtaining a license to operate a day care facility from the State of New York. If Landlord has performed its obligations as noted in this paragraph and Tenant is unable to obtain a license to operate a day care facility on or before September 1, 1995, the Commencement Date will be deemed to be September 1, 1995. RENEWAL OPTIONS - Landlord herewith provides Tenant an option to twice extend the eleven year term of this lease for an additional five year period in accordance with the escalation provisions herein stipulated; items (a) through (f). In order to exercise its option, Tenant must notify Landlord, in writing, of Tenant's intent to exercise its five year renewal option at least one hundred and eighty (180) days prior to the expiration of each lease term. In the event proper and timely notification as herein specified is not executed by Tenant, Landlord shall no longer be bound by the terms and conditions of the option offer. Time and method of notification is deemed of the essence. RENT ABATEMENTS - It is mutually agreed that No Base Rent, or other fees due in Section V, 4 sub-paragraphs (a) through (e), exclusive of the cost of electricity, shall be due for the first three months of the Lease term. The entire Base Rent otherwise due and payable for the Abatement Month(s) shall become immediately due and payable upon the occurrence of an uncured event of default by Tenant under this Lease, as defined below in Addendum Section V, Paragraph #10, subparagraph DEFAULT. In consideration for the foregoing rent abatements, Tenant agrees to enroll three students, on an "as needed basis," chosen at Landlord's sole discretion, free of tuition charge at all times during the term September 1, 1995, as ma...
Sample 1

Related to LEASE TERM AND ADJUSTMENTS

  • Prorations and Adjustments The following shall be prorated and adjusted between Seller and Purchaser as of the day of the Closing, except as otherwise specified:

  • Closing Prorations and Adjustments The prorations set forth in this Section 6.5 shall be on a Property-by-Property basis and not among, or between, Properties, and shall not be allocated on an Applicable Share basis.

  • Statement of Estimated Direct Expenses In addition, Landlord shall give Tenant a yearly expense estimate statement (the “Estimate Statement”) which shall set forth Landlord’s reasonable estimate (the “Estimate”) of what the total amount of Direct Expenses for the then-current Expense Year shall be and the estimated Tenant’s Share of Direct Expenses (the “Estimated Direct Expenses”). The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its rights to collect any Estimated Direct Expenses under this Article 4, nor shall Landlord be prohibited from revising any Estimate Statement or Estimated Direct Expenses theretofore delivered to the extent necessary. Thereafter, Tenant shall pay, with its next installment of Base Rent due that is at least thirty (30) days thereafter, a fraction of the Estimated Direct Expenses for the then-current Expense Year (reduced by any amounts paid pursuant to the last sentence of this Section 4.4.2). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year, including the month of such payment, and twelve (12) as its denominator. Until a new Estimate Statement is furnished (which Landlord shall have the right to deliver to Tenant at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the total Estimated Direct Expenses set forth in the previous Estimate Statement delivered by Landlord to Tenant.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Operating Expenses During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

  • Base Year Calendar year 2000.

  • Form of Warrant after Adjustments The form of this Warrant need not be changed because of any adjustments in the Warrant Price or the number and kind of Securities purchasable upon the exercise of this Warrant.

  • Allocation of Direct Expenses The parties acknowledge that the Building is a part of a multi-building project and that the costs and expenses incurred in connection with the Project (i.e., the Direct Expenses) should be shared between the Building and the other buildings in the Project. Accordingly, as set forth in Section 4.2 above, Direct Expenses (which consist of Operating Expenses and Tax Expenses) are determined annually for the Project as a whole, and a portion of the Direct Expenses, which portion shall be determined by Landlord on an equitable basis, shall be allocated to the Building (as opposed to other buildings in the Project). Such portion of Direct Expenses allocated to the Building shall include all Direct Expenses attributable solely to the Building and a pro rata portion of the Direct Expenses attributable to the Project as a whole, and shall not include Direct Expenses attributable solely to other buildings in the Project.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Rental Adjustments 6.1 The Basic Annual Rent then in effect (and as previously increased pursuant to this Section 6.1) shall be increased each year by three percent (3%) on each annual anniversary of the Term Commencement Date for so long as this Lease continues in effect.

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