Minimum Annual Guaranteed Rent Sample Clauses

Minimum Annual Guaranteed Rent. The MAG for the first year will be the amount stated on the Summary Page. The MAG is an annual obligation and shall be paid monthly in twelve equal installments (“MMG”). The first MMG payment shall be due and payable on the Rent Commencement Date and thereafter the MMG shall be paid on the first day of each month through the Term (or any extended term) hereof, as well as any holding over period. After the first full year and for each subsequent year of this Agreement, the MAG will be adjusted annually on a common annual date to be established by the City to an amount equal to (i) 85% of the Rent payable to the City for the prior year as computed under this Section 5 (excluding any Additional Rent) or (ii) the first year MAG initially stated on the Summary Page, whichever is greater. Notwithstanding the foregoing, the MAG will never be less than the first year MAG initially stated on the Summary Page. The City reserves the right to establish a common annual MAG adjustment date for all Concessionaires.
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Minimum Annual Guaranteed Rent. “MAG” of “Guaranteed Rent”)
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Minimum Annual Guaranteed Rent. Except as expressly stated otherwise in the September 30, 2020 letter from City to TCM regarding temporary rent relief due to XXXXX-00 XXX-XXX0000-0xx Xxxx-#0000000 XxxxXxxx Xxxxxxxx ID: E24620E9-B930-4F77-98CC-950AF0BF6271 (“Third Amendment”), the Minimum Annual Guaranteed Rent (herein, the “Minimum Annual Guaranteed Rent” or “MAG”) shall be an annual amount equal to the total number of square feet contained within all of the Units within the Premises, (it being understood that the total number of square feet contained in any TCM Common Areas, Short-Term Concession Space provided to TCM under Section 3.2.2 or any TCM Storage Premises are excluded from such calculation) multiplied by Two Hundred Sixty-Six Dollars Eighty-One Cents ($266.81) (herein, the “Minimum Per Square Foot MAG Amount”) for the applicable Year, subject to adjustment as provided below. For avoidance of doubt, City and TCM acknowledge that the Minimum Annual Guaranteed Rent shall be calculated from time to time based on the total number of square feet contained within the Units as such Units are reflected in each DIP Approval and as subject to verification by the Chief Executive Officer pursuant to Section 2.1.1 above. The Minimum Annual Guaranteed Rent shall be payable monthly in advance in equal installments (i.e. 1/12 of the MAG per month) on the first (1st) day of each month (the “Monthly MAG Payment”). The Minimum Annual Guaranteed Rent shall be increased effective on the Delivery Date of any and all additional areas which become a part of the Premises based on the total number of square feet of all Units contained within such additional Premises and the Monthly MAG Payment shall be similarly adjusted as of such date. For any partial monthly period, such payment or adjusted payment shall be made on a pro-rata basis as of the applicable Delivery Date. Beginning on January 1, 2020 and continuing each January 1st thereafter during the period of the Primary Term, the Minimum Annual Guaranteed Rent shall be adjusted to equal an amount equal to the greater of: (a) the CPI Adjusted Minimum Annual Guaranteed Rent for such Year (as computed and defined in Section 4.1.2.1 below), or (b) eighty-five percent (85%) of the Percentage Rent for the prior Year. The parties acknowledge that in no event shall the Minimum Annual Guaranteed Rent be less than the CPI Adjusted Minimum Annual Guaranteed Rent. The Monthly MAG Payment shall be adjusted on January 1st of each Year to correspond with the new Mi...
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Minimum Annual Guaranteed Rent 
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Related to Minimum Annual Guaranteed Rent

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Annual Renewal All LLS grants are subject to an annual renewal; continued funding of this Grant is contingent upon the availability of funds and research progress. Where funding is not available for a renewal and LLS does not elect to renew this Agreement, the Grantee will be given 60 days’ notice in writing that the Grant will not continue. LLS does not send out continuation notices if the Grant has been renewed.

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • CONTRACT RENEWAL PERIOD FURNITURE ADDITIONS/DELETIONS: Contractors wishing to make furniture additions/changes to their contract during the contract period should be aware of the following additions/changes will be allowed only once during a contract period. No changes to discount percentages are allowed during this contract period. Additions/changes must be submitted during the contract renewal period. When requesting additions and/or changes; contractor shall submit a request either by letter or via email which shall include a list of all items being proposed for addition and/or change. Contractor shall submit all required documents supporting any new items. Product literature for all new items shall also be submitted with the request. Contractor is responsible for submitting a complete name, address, email address, phone and fax numbers when a new dealer is added.

  • Annual Rent LESSEE covenants and agrees to pay as rent to LESSOR the sum of ($ ) for the first year of this lease which shall be due at the time of approval by the Board of Education. Subsequent payment of annual rent shall be due on or before the anniversary date of this Lease Agreement. The obligation of LESSEE to pay rent under this Lease Agreement is unconditional, and the rent shall not be subject to set off for any reason or cause. LESSOR and LESSEE agree that in the event of termination or cancellation, any rental payment made during the term of this Lease Agreement is not refundable, and LESSEE waives any right or claim it may have to refund of rent paid. Rents shall be adjusted annually pursuant to the rent adjustment clause contained in Paragraph 3 of this Lease Agreement. In the event LESSEE is delinquent in the payment of rent, LESSEE shall pay a late charge equal to fifteen percent (15%) of the amount of rent past due for more than 30 days and thereafter shall pay interest on any rent past due at an annual rate (the "Default Rate") equal to the maximum rate then allowed by law or, if there is no maximum rate, then a rate equal to five percent per annum above the discount rate, excluding any surcharge thereon, on ninety-day commercial paper in effect at the Federal Reserve Bank in the Federal Reserve district in which LESSOR is located, calculated according to the actuarial method.

  • Minimum Charge The minimum charge against accumulated vacation leave shall be fifteen (15) minutes. Vacation leave shall be compensated at the employee’s base rate of pay, except as otherwise provided in this Agreement.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • MINIMUM MONTHLY PAYMENT We will mail you a statement every month if your account has a balance. You agree that you will pay each month not less than the minimum monthly payment by the payment due date. The minimum monthly payment will be 3.0% for Classic accounts or 2% for Platinum accounts of your outstanding balance (“New Balance”) or $25.00, whichever is greater. If your outstanding balance is $25.00 or less, you agree to pay the balance in full. You may pay in full for all your purchases and cash advances each month, or you may repay in monthly installments. We can accept late payments or partial payments, or checks, drafts, or money orders marked “payment in full” without prejudice to our rights under this Agreement, which are hereby explicitly reserved. A credit posting from a merchant or reversal of fees do not constitute a minimum payment. The minimum monthly payment may be allocated at the Credit Union’s discretion to pay off lower rate balances, such as promotional offers, before higher rate balances, such as cash advances or purchases. Payments in excess of the minimum monthly payment will be allocated first to higher rate balances, as applicable. From time to time, we may allow you to skip your minimum monthly payment due. If you choose to skip that payment, Finance Charges will continue to accrue in accordance with this Agreement. Payments received at: Rogue Credit Union, XX Xxx 0000, Xxxxxxx, XX 00000 on or before 5:00 PM Pacific Time on any business day will be credited to your Account as of that date; payments received by mail at that address after 5:00 PM Pacific Time or on a weekend will be posted to your Account as of the next business day. Payment crediting to your Account may be delayed up to five days if your payment is received by mail at any other address or not accompanied by the remittance portion of your Account statement.

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