Minimum Annual Rent Sample Clauses
The Minimum Annual Rent clause establishes the lowest amount of rent that a tenant must pay to the landlord each year, regardless of other factors such as sales performance or occupancy. Typically, this clause specifies a fixed annual sum, which may be paid in equal monthly installments, and applies even if the lease also includes provisions for percentage rent or other variable charges. Its core practical function is to guarantee the landlord a baseline income from the property, ensuring predictable revenue and reducing financial risk associated with fluctuations in the tenant's business.
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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. Commencing on the Effective Date, the monthly Minimum Annual Rent for the entire Premises (including the 2006 Expansion Space) will be as follows: April 1 2006 - October 31, 2006 $ 3,189.84 $ 32,185.38 November 1,2006 - October 31, 2007 $ 3,189.84 $ 32,910.27 November 1,2007 - October 31, 2008 $ 3,285.54 $ 33,748.98 November 1,2008 - October 31, 2009 $ 3,384.11 $ 34,609.13 November 1,2009 - February 28, 2010 $ 3,485.63 $ 35,491.28
Minimum Annual Rent. Tenant shall pay Minimum Annual Rent in twelve (12) equal monthly installments during the Lease Term, in advance, on the first day of each calendar month, without setoff, deduction, prior notice or demand. Notwithstanding anything to the contrary contained herein, if the initial opening of the Shopping Center has not occurred on or before September 1, 1998, it is agreed that after Tenant initially opens for business within the Premises and provided Tenant continuously remains open for business then the Minimum Annual Rent and Percentage Rent set forth in Article 1 shall be abated through December 31, 1998. During the time Minimum Annual Rent and Percentage Rent is abated, Tenant shall pay to Landlord the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears on or before the twentieth (20th) day of each month, and further provided that during the period the Minimum Annual Rent and Percentage Rent is abated, Tenant shall pay all other charges called for in the manner provided for in this Lease. The provisions of this Section 4.2 shall in no event change or modify the Rent Commencement Date. However, in the event Tenant fails to open for business within the time limits set forth in Article 1, Tenant shall pay, in addition to the amounts required in Section 11.1, the Minimum Annual Rent and Percentage Rent set forth in Article 1 for every day Tenant is not open regardless of the provisions of this paragraph. Notwithstanding anything to the contrary contained herein, it is agreed that commencing on the thirtieth (30th) day following the date Tenant has opened for business and so long as Tenant continuously remains open for business, the Minimum Annual Rent set forth in Article 1 shall be abated until such time (the foregoing period is referred to as the "Initial Abatement Period") as there are initially open for business tenants occupying at least seventy percent (70%) of the total Floor Area available for Mall Tenants in the Shopping Center. Until such time as the aforementioned contingencies have been met, Tenant shall pay to Landlord the lesser of (i) the monthly Minimum Annual Rent otherwise payable or (ii) the amount equal to five percent (5%) of Tenant's Gross Sales monthly in arrears on or before the twentieth (20th) day of each month, and further provided that during said prior period Tenant shall pay all other charges called for in the manner provided for in this Lease except Minimum Annual Rent. The foregoing abatement shall in ...
Minimum Annual Rent. Tenant shall pay the Minimum Annual Rent set forth in the Indenture in advance, in monthly installments on or before the first (1st) day of each month during the Term, without notice, demand, setoff or deduction; except that the Prepaid Rent set forth in Section 1.17 of the Indenture, if any, shall be paid upon the execution of this Lease by ▇▇▇▇▇▇ and shall be applied by Landlord to the payment of Minimum Annual Rent next coming due hereunder.
Minimum Annual Rent. 2 7. Operation of Property; Payment of Expenses............................................. 3 8. Signs.................................................................................. 5 9. Alterations and Fixtures............................................................... 5 10. Mechanics' Liens.......................................................................
Minimum Annual Rent. Effective on and after the Additional Premises Commencement Date, Tenant shall pay Minimum Annual Rent for the Additional Premises in accordance with the following chart: August 1, 2014-May 31, 2015 $ 10.60 $ 49,311.20 $ 4,109.27 June 1, 2015 - May 31, 2016 $ 10.85 $ 50,474.20 $ 4,206.18 June 1, 2016-May 31, 2017 $ 11.10 $ 51,637.20 $ 4,303.10 June 1, 2017-May 31, 2018 $ 11.35 $ 52,800.20 $ 4,400.02
Minimum Annual Rent. Years 1-5 $296,595.00 per year;
Minimum Annual Rent. 8 Section 4.2
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. Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(e) (as increased at the beginning of each lease year as set forth in Section 1(e), in advance, on or before 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 another address; 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 Minimum Rent shall a▇▇▇▇ for the period from the Commencement Date until the first day of the following calendar month, and the schedule set forth at Section 1(e)(i) shall then take effect. As used in this lease, the term "lease year" means the period from the Commencement Date through the succeeding twelve (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 twelve (12) month period thereafter during the Term.