MINIMUM PERCENTAGE RENT Sample Clauses

MINIMUM PERCENTAGE RENT. From the Opening Date until this Lease is lawfully terminated, Tenant shall be unconditionally obligated to pay Landlord minimum Percentage Rent of not less than $500,000 per annum in addition to any portion of the Fixed Rent, provided that Tenant is able to operate a Riverboat Casino, and/or collect business interruption insurance in respect of the non-operation thereof covering not less than one hundred twenty (120) days in the year for which the minimum Percentage Rent is claimed. In the event actual Percentage Rent payments in any Fiscal Year with respect to which such minimum Percentage Rent is payable by Tenant are less than $500,000, without considering Fixed Rent, the difference shall be paid to Landlord within thirty (30) days after the end of such Fiscal Year.
Sample 1
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MINIMUM PERCENTAGE RENT. From the Rent Commencement Date and continuing throughout the term of the Lease, Lessee shall pay to the City a percentage of Lessee‟s annual Gross Revenues (as defined herein) made from or upon the Lease Area, in excess of the annual Breakpoint (as such may be adjusted over the term of the Lease) for that same time period. Minimum Percentage Rent shall be computed on an annual basis (“Percentage Rent Period”) beginning with the Effective Date and continuing throughout the Term. Minimum Percentage Rent shall be due and payable to the Lessor upon exceeding the Seven Hundred Sixty Thousand dollars ($760,000.00) breakpoint (“Rent Breakpoint”). Minimum Percentage Rent shall be equal to seven and one-half percent (7.5%) of the combined Gross Revenues of the Lessee and any and all Program Operator(s) for any preceding Lease Year (“Percentage Rent”) over the Rent Breakpoint. If there is any underpayment of Percentage Rent, Lessee shall pay the Lessor the amount of the deficiency within thirty (30) days of the Lessor receipt of the Percentage Rent payment. If the Percentage Rent is not paid after thirty (30) days, Lessee shall be charged a late payment fee in accordance with Section 16.4 until the amount of underpayment is paid in full.
Sample 1

Related to MINIMUM PERCENTAGE RENT

  • Percentage Rent In addition to the Base Rent, Lessee shall be: (check one) ☐ - Not required to make payments related to Lessee’s sales or revenue (“Percentage Rent”). ☐ - Required to pay __________________ percent (____%) of __________________ (gross sales, net sales, etc.). Such payment shall be made ☐ Monthly ☐ Quarterly ☐ Annually along with a receipt to show proof of percentage calculation (“Percentage Rent”). The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.”

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5, which amount shall be subject to increase as provided in Sections 1.5 and 4.3. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, Tenant shall pay the first month’s Minimum Monthly Rent to Landlord.

  • Minimum Payments If the Executive’s Termination Date occurs during the Agreement Term for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 (other than this paragraph 5(a)) or the express terms of any employee benefit plan or as required by law:

  • Maximum Payments Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Borrower to the Holder and thus refunded to the Borrower.

  • 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.

  • Monthly Base Rent On each Due Date, each Lessee shall pay to the Lessor the Monthly Base Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;

  • 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 ($ )

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • 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.

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