Minimum Annual Rent. Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.
Minimum Annual Rent. Tenant shall pay to Landlord the Minimum Annual Rent in the Monthly Rental Installments in advance, without demand, abatement, deduction or offset, on the Commencement Date and on or before the first day of each and every calendar month thereafter during the Lease Term. The Monthly Rental Installments for partial calendar months shall be prorated. Tenant shall be responsible for delivering the Monthly Rental Installments to the payment address set forth in Section 1.01(d) above in accordance with this Section 3.01.
Minimum Annual Rent. 3 7. Operation of Property; Payment of Expenses..........................3 8. Signs...............................................................4 9. Alterations and Fixtures............................................5 10. Mechanics' Liens....................................................
Minimum Annual Rent. Tenant shall pay as “Minimum Annual Rent” for the Premises the sum of Twelve Dollars ($12.00) per square foot of Floor Area within the Premises, provided that the Minimum Annual Rent shall be adjusted on each yearly anniversary of the Commencement Date occurring during the Term, as the Term may be extended by the Option Term(s) pursuant hereto, if applicable (each such yearly anniversary date is referred to herein as an “Adjustment Date”’), to equal the product obtained by multiplying the Minimum Annual Rent in effect immediately prior to the applicable Adjustment Date by a fraction, the numerator of which is the “Index” (as hereinafter defined) for the calendar month which is three (3) full calendar months prior to such Adjustment Date and the denominator of which is the Index which is fifteen (15) full calendar months prior to such Adjustment Date; provided, however, that in no event shall any such adjustment result in a decrease in Minimum Annual Rent or in an increase of Minimum Annual Rent in excess of three percent (3 %) per annum on a cumulative and compounding basis. For purposes of this Lease, the “Index” shall mean the Consumer Price Index published by the United States Department of Labor, Bureau of Labor Statistics (the “Bureau”) “All Items” for All Urban Consumers in the Xxx Xxxxxxxxx-Xxxxxxx-Xxx Xxxx xxxxxxxxxxxx area, (1982-84=100). Should the Bureau discontinue the publication of the Index, publish the same less frequently or alter the same in some other manner, the most nearly comparable index or procedure as determined by Landlord shall be substituted therefor. The Minimum Annual Rent as adjusted shall be the Minimum Annual Rent until the next Adjustment Date. Minimum Annual Rent shall be payable in equal monthly installments, in advance, on or before the first (1st) day of each month, without prior demand and without offset or deduction (except as expressly and specifically provided in this Lease), commencing on the Commencement Date. Should the Commencement Date be a day other than the first (1st) day of a calendar month, then the monthly installment of Minimum Annual Rent for the first partial month shall be equal to one-thirtieth (l/30th) of the monthly installment of Minimum Annual Rent for each day from the Commencement Date to the end of the partial month.
Minimum Annual Rent. Effective as of June 1,2018, and continuing through and including the Expiration Date, Tenant’s Minimum Annual Rent obligation for the Premises shall be as follows: 6/1/2018 -5/31/2019 $ 12.65 $ 203,816.80 $ 16,984.73 6/1/2019 -5/31/2020 $ 13.15 $ 211,872.80 $ 17,656.07 6/1/2020 - 5/31/2021 $ 13.65 $ 219,928.80 $ 18,327.40
Minimum Annual Rent. December 1, 1996 - June 30, 1997 $212,271.15* July 1, 1997 - June 30, 1998 = $382,554.60** July 1, 1998 - June 30, 1999 = $391,885.20*** July 1, 1999 - June 30, 2000 = $401,215.80**** July 1, 2000 - June 30, 2001 = $410,546.40*****
Minimum Annual Rent. 8 Section 4.2
Minimum Annual Rent. Minimum Annual Rent for each Lease Year of the First (1st) Lease Period, Second (2nd) Lease Period, and Third (3rd) Lease Period is described in Section 1.5. Thereafter, Minimum Annual Rent shall be periodically adjusted by the “Minimum Annual Rent Look Back Adjustments” described in Section 5.3.1, which shall occur on the “Minimum Rent Look Back Adjustment Dates” described in Section 1.5.
5.3.1 Minimum Annual Rent Look Back Adjustments. The Minimum Annual Rent shall be subject to adjustment on each Minimum Rent Look Back Adjustment Date set forth in Section 1.5 as follows. Within thirty (30) days following each Minimum Rent Look Back Adjustment Date, Landlord shall determine, and provide to Tenant, a written statement setting forth the calculation of, the average annual Greater Of Rent that was payable by Xxxxxx (a) during the period from the first day of the Third (3rd) Lease Period until the first Minimum Rent Look Back Adjustment Date and (b) with respect to all subsequent Minimum Rent Look Back Adjustment Dates, during the period between the applicable Minimum Rent Look Back Adjustment Date and the prior Minimum Rent Look Back Adjustment Date. Effective as of the applicable Minimum Rent Look Back Adjustment Date, Minimum Annual Rent shall be adjusted to an amount equal to sixty-five percent (65%) of such average annual Greater Of Rent payable over the three (3) Lease Years that immediately precede such Minimum Rent Look Back Adjustment Date; provided that in no event shall such new Minimum Annual Rent be less than the Minimum Annual Rent payable for the Lease Year immediately preceding such Minimum Rent Look Back Adjustment Date. Following the determination of a new Minimum Annual Rent, Tenant shall pay any underpayment of Minimum Annual Rent to Landlord within thirty (30) days following such determination. Tenant shall pay Greater Of Rent based on the Minimum Annual Rent at the rate set forth in Section 1.5 or as determined in accordance with this Section 5.3.1, as applicable, until such Minimum Annual Rent is adjusted by a Minimum Annual Rent Look Back Adjustment in accordance with this Section 5.3.1.
Minimum Annual Rent. The minimum Annual Rent reserved hereunder shall be as specified in Section 1(a)(8) which shall be payable by Tenant to the Landlord during each Lease Year of the Lease Term in twelve (12) equal monthly installments of Basic Monthly Rent each as specified in Section (a)(9), due in advance, without notice or demand, and without set-off, deduction or abatement of any kind, on the first day of every calendar month thereafter during the Term. Rent shall be paid to Landlord (or its agent) as specified in Section 1(a)(18), or to such other persons or at such other address as Landlord may designate from time to time.
