Minimum Guaranteed Rental Sample Clauses
The Minimum Guaranteed Rental clause establishes a baseline amount of rent that the tenant must pay to the landlord, regardless of the actual income or occupancy levels generated by the leased property. In practice, this means that even if the property is underutilized or business is slow, the tenant is still obligated to pay at least the specified minimum rent each period. This clause ensures the landlord receives a predictable income stream and protects them from fluctuations in the tenant's business performance.
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Minimum Guaranteed Rental. Tenant shall pay to Landlord Monthly Minimum Guaranteed Rental payments stated to be due during the Lease Term under Section 1.1(o) of this Lease, in advance, on or before the first day of each calendar month during the Lease Term. As provided in Section 1.1(o), commencing on the first day of the seventh (7th) month of the Term, Minimum Guaranteed Rental shall be $20.00 per square foot, and shall continue at such rate until the first day of the month following the date on which Springfield Shoppes is fifty percent (50%) or more leased, inclusive of this lease. The total leasable square footage of the Shoppes shall be 20,000 sf. Landlord shall provide written notice to Tenant of the execution of any lease(s) pursuant to which Springfield Shoppes is fifty percent (50%) or more leased. Commencing on the first day of the month following the date of such written notice, Minimum Guaranteed Rental shall increase to Twenty-Five and no/100 Dollars ($25.00) per square foot, which Minimum Guaranteed Rental shall remain in place through the expiration of the Initial Term.
Minimum Guaranteed Rental. Beginning with the "Commencement Date" as defined in Article 3, and throughout the term hereof. Tenant agrees to pay to Landlord, or its agents, at the address first above written, or at any other place designated by Landlord, without offset, notice or deduction, a monthly rental payment of one thousand ($1,000.00) per month for the duration of this Lease. This monthly rental payment represents a fair market value for the rental of the Demised Premises. Said monthly installments are hereinafter referred to as "Minimum Guaranteed Rental."
Minimum Guaranteed Rental. Months 1 - 36 $4562.50 per month ($54,750.00 per year) Option Months 37-72 $4927.50 per month ($59,130.00 per year) Option Months 73-108 $5292.00 per month ($63,510.00 per year)
Minimum Guaranteed Rental. Tenant shall pay to Landlord Minimum Guaranteed Rental in monthly installments in the amount specified in Section 1.1(i) above. The first (1st) such monthly installment shall be due and payable, without notice or demand, on or before the date Tenant executes and delivers to Landlord this Lease, and subsequent installments shall be due and payable without notice or demand, on or before the first (1st) day of each succeeding calendar month during the Lease Term; provided, however, that, if the Commencement Date is a date other than the first (1st) day of a calendar month, there shall be due and payable, without notice or demand, on or before such date, as Minimum Guaranteed Rental for the balance of such calendar month, a sum equal to that proportion of the Minimum Guaranteed Rental specified for the first (1st) full calendar month as herein provided, which the number of days from the Commencement Date to the end of the calendar month during which the Commencement Date shall fall bears to the total number of days in such month.
Minimum Guaranteed Rental. During the Term of this Lease, Minimum Guaranteed Rental shall be as follows: Months 1-6 $ 15.00 $ 26,160.00 $ 2,180.00 Months 7-50% leased* $ 20.00 $ 34,880.00 $ 2,906.67 50% leased -60 Months** $ 25.00 $ 43,600.00 $ 3,633.33 *Commencing on the first day of the seventh (r) month of the Term, Minimum Guaranteed Rental shall be $20.00 per square foot, and shall continue at such rate until the date on which Springfield Shoppes is fifty percent (50%) leased, inclusive of this Lease. ** Commencing on the first day of the month following the date on which Springfield Shoppes is fifty percent (50%) leased, inclusive of this Lease, the Minimum Guaranteed Rental shall be $25.00 per square foot. The total leasable square footage of the Shoppes shall be 20,000 sf.
Minimum Guaranteed Rental. The annual Minimum Guaranteed Rental for the Demised Premises is as follows: March 1, 2013 – February 28, 2014 $ 100,667.50 $ 8,388.96 March 1, 2014 – February 28, 2015 $ 103,687.53 $ 8,640.63 March 1, 2015 – February 29, 2016 $ 106,798.15 $ 8,899.85 In addition to the Minimum Guaranteed Rental set forth above, Tenant shall be responsible for payment of all State, County, and municipal Sales and Use Taxes applicable to the rent payable hereunder. Such taxes shall be paid at the same time as the monthly installment of Minimum Guaranteed Rental. This is a triple net lease.
Minimum Guaranteed Rental. This agreement is irrevocable by Lessee for the fulI term hereof. Lessee acknowledges that the guaranteed minimum rental set forth herein is based upon the specialized nature of the Equipment and/or the specific terms of the lease of the Equipment, or such other factors which Lessor and Lessee acknowledge have been considered in the guaranteed minimum rental.
Minimum Guaranteed Rental. Commencing on the Expansion Commencement Date, in addition to the Monthly Base Rent paid under the Lease, Tenant shall pay the amounts below for the Expansion Space: Term (Months) Annual Base Rental Rate/RSF Annual Base Rental Monthly Base Rent
Minimum Guaranteed Rental. Prior to the earlier of the Adjustment Date or the commencement of the Seventh Amendment Extended Term (i.e., June 1, 2015), Tenant shall continue to pay minimum guaranteed rental for the Demised Premises in accordance with the terms of Section 4 of the Sixth Amendment, and shall continue to enjoy the abatement of minimum guaranteed rental during the Abatement Period as provided in Section 2 of the Seventh Amendment. Effective as of 11:59 p.m. (Pacific Time) on the Closing Date, Tenant’s right to ▇▇▇▇▇ minimum guaranteed rental shall terminate, and commencing as of 12:00 midnight (Pacific Time) on the Adjustment Date, the minimum guaranteed rental for the Demised Premises for the remainder of the period preceding the Seventh Amendment Extended Term shall be in the following applicable monthly amount payable in advance on the first day of each month as provided in the Lease, as amended by this Eighth Amendment: Adjustment Date – 5/31/15 $ 264,736.31 Notwithstanding the foregoing, minimum guaranteed rental for the Partial Closing Month shall not be payable in advance on the first day of the Partial Closing Month, but shall instead be paid by Tenant within five (5) days after Tenant’s receipt of an invoice therefor. If the Closing Date occurs on a date other than the last day of a calendar month (such that the Adjustment Date occurs on a date other than the first day of a calendar month), then the minimum guaranteed rental for the Partial Closing Month shall be a sum equal to that proportion of the rent specified above which the number of days in the Partial Closing Month (i.e., the number of days from and including the Adjustment Date to the end of the Partial Closing Month) bears to the total number of days in the calendar month in which the Adjustment Date occurs. By way of example only, if the Closing Date occurred on November 5, 2014 (and, accordingly, the Adjustment Date occurred on November 6, 2014), then the minimum guaranteed rental for the Partial Closing Month would be $220,613.59 (i.e., $264,736.31 x (25 ÷ 30)), and would be due and payable by Tenant within five (5) days after receipt of an invoice for such amount from Landlord. Any portion of the minimum guaranteed rental payment paid by Tenant in respect of the calendar month in which the Adjustment Date occurs, if any, that exceeds the product obtained by multiplying (i) the quotient obtained by dividing (A) the number of days in such calendar month that is not in the Partial Closing Month by (...
Minimum Guaranteed Rental. Beginning with the "Commencement Date" as defined in Article 3, and throughout the term hereof. Lessee agrees to pay to Lessor, or its agents, at the address first above written, or at any other place designated by Lessor, without offset, notice or deduction, a monthly rental payment of two thousand eight hundred and fifty six ($2,856.00) per month for months (1-12), a monthly rental payment of two thousand nine hundred and forty one dollars and sixty eight cents ($2,941.68) per month for months (13-24), a monthly rental payment of three thousand and twenty nine dollars and ninety three cents ($3,029.93) per month for months (25-36). . This monthly rental payment represents a fair market value for the rental of the Demised Premises. Lessee's share of common area operating expenses are forty nine (49%) percent, common area operating to only include increases in property taxes and property insurance. (See Article 7) Said monthly installments are hereinafter referred to as "Minimum Guaranteed Rental."