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:
Minimum Rent. Commencing on the Commencement Date, and subject to the provisions for the Tenant Improvement Allowance in Section 2.1 hereof, Tenant shall pay to Landlord each Lease Year (as such term is hereinafter defined), and Tenant covenants and agrees that Tenant will pay to Landlord during the Term, at the address specified in this Lease for the giving of notices to Landlord or at such other place as Landlord may specify, without any right of set-off, deduction, counterclaim, suspension of abatement, and without any prior notice or demand, the amount of * ("MINIMUM RENT").
3.1.1. The aforesaid Minimum Rent shall be due and payable in monthly installments, each in the amount equal to one-twelfth (1/12) of the Minimum Rent for each Lease Year and shall be prorated for the time period between the Commencement Date and the commencement of the next Lease Year. Each such installment shall be due and payable, in advance, on or before the first (1st) day of each month of the Term, commencing on the Commencement Date. If the Commencement Date occurs on a day other than on the first (1st) day of the month in which such date falls, such installment of Minimum Rent shall be prorated based upon the actual number of days in such month.
3.1.2. Commencing with the second Lease Year and commencing on the first day of each succeeding Lease Year (each, a "Rent Adjustment Date"), the Minimum Rent payable by Tenant shall be adjusted to be that product (which shall in no event be less than the Minimum Rent payable for the preceding Lease Year), which is derived by multiplying the Minimum Rent payable for the previous Lease Year by a fraction, the numerator of which shall be the Index (as defined below) in effect for the month of August in the previous Lease Year and the denominator of which shall be the Index in effect for (i) the month of August, 2001 in the case of the first Rent Adjustment Date or (ii) the month of August prior to the preceding Rent Adjustment Date in the case of the second Rent Adjustment Date and each succeeding Rent Adjustment Date. Notwithstanding anything to the contrary in the foregoing, in no event shall the Minimum Rent in any Lease Year exceed * of the Minimum Rent for the previous Lease Year. The term "INDEX", as used herein, shall mean the Consumer Price Index for All Urban Consumers, published by the Bureau of Labor Statistics of the U.S. Department of Labor for Los Angeles-Anaheim-Riverside, California, all items (1982-84=100) ("CPI"); provided, however...
Minimum Rent. A. Minimum Rent shall be in accordance with the Rider attached hereto as Schedule A. Minimum Rent and any other Rent due under this Lease shall commence thirty (30) days after Substantial Completion of Landlord's Work (as hereinafter defined), but no earlier than December 19, 1996.
B. All rent and other sums due to Landlord hereunder (hereinafter called "Rent") shall be made payable to Marave Associates, L.P. and mailed to the office of Landlord at P. O. Box 13700 Philadelphia, Pennsylvania, 19191-1062 or to such oxxxx xxxxx xx xx xxxx xxxxx xxxxxxx xx Xxxxxxxx xxx designate, from time to time, by written notice to Tenant, without demand and without deduction, set-off or counterclaim (except to the extent demand or notice shall be expressly provided for herein).
C. If Landlord, at any time or times, shall accept Rent or any other sum due to it hereunder after the same shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute or be construed as, a waiver of any of Landlord's rights hereunder.
D. If the term of this Lease begins on a day other than the first day of a month, rent from such day until the first day of the following month shall be prorated at the rate of one-thirtieth of the fixed monthly rental for each day of the first full calendar month of the term hereof (and, in such event, the installment of rent paid at execution hereof shall be applied to the rent due for the first full calendar month of the term hereof).
E. This Lease is entered into by the parties hereto conditioned upon and subject to (i) Landlord's acquisition of the building where Tenant's principal manufacturing operations and administrative offices are currently located at 2 Electronic Drive, Horsham, Pennsylvania (the "Current Facilxxx"), xxx (xx) Xxxxxxxx xxxxxxxxx Xxxxxx's existing lease ("Existing Lease") at the Current Facility on or before October 15th, 1996. In the event that Landlord fails to acquire the Current Facility and cancel Tenant's Lease at the Current Facility on or before October 15, 1996, the Landlord shall have the option to either (i) terminate the lease effective October 15, 1996, whereupon the Lease shall terminate and become null and void, or (ii) affirm the lease, whereupon the Minimum Rent shall be reduced by the monthly minimum rental under its Existing Lease until such time that the Existing Lease is terminated. In addition to the Minimum Rent reduction, Tenant shall deduct from Minimum Rent and Rent...
Minimum Rent. Lessee will pay to Lessor in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, at Lessor's address set forth above or at such other place or to such other person, firms or corporations as Lessor from time-to-time may designate in a Notice, Minimum Rent (as defined below), during the Term, as follows:
Minimum Rent. During the Term, the Tenant shall pay to the Landlord, without demand and without deduction or setoff, as minimum rent for the Premises, the monthly rent of $700.00, per person or $600.00 per person if double occupancy bedroom (based on availability). Rent will be pro-rated if you move-in or out other than the 1st or last day of the month. . Tenant shall reference the Summer Intern Application for payment plan, information and details. If you must vacate your premises before the end of your original lease term, 45 day written notice is required. You are liable for the rent during this 45 day notice period.
Minimum Rent. Anything herein to the contrary notwithstanding,
(i) each installment of Basic Rent, whether or not such installment has been adjusted pursuant to Section 3(b), together with all prior Basic Rent due and payable on such date and all accrued interest thereon shall be, under all circumstances and in any event, in an amount at least sufficient for Lessor to pay in full principal and interest on the Loans relating to the Aircraft required to be paid by Lessor on or within five Business Days of the due date of such installment of Basic Rent; and
(ii) payments of Stipulated Loss Value shall be, under any circumstances and in any event, in an amount which (when taken together with any other Basic Rent due and payable in connection therewith) is at least equal to, as of the date of payment, the sum of the aggregate unpaid principal of and accrued interest on the Loans relating to the Aircraft and all other unpaid Obligations of Lessor (other than principal and interest on Loans relating to other Aircraft and after taking into account all other payments of Stipulated Loss Value pursuant to the other Leases on such date).
Minimum Rent. The current monthly Base Rent under the Lease is $__________, subject to any escalation and/or additional Rent charges provided in the Lease, and such Base Rent is current as of the date hereof.
Minimum Rent. Tenant shall pay annual base minimum rent ("Minimum Rent") to Landlord in equal installments in advance, on the first (1st) Business Day of each Accounting Period; provided, however, that the first payment of Minimum Rent shall be payable on the Commencement Date. Further, if applicable, the first payment of Minimum Rent and the last payment of Minimum Rent shall be prorated on a per diem basis provided, however, that for purposes of Minimum Rent, any prorated payment for any partial Accounting Period prior to the first full Accounting Period shall be prorated based upon the installment of Minimum Rent payable for the first full Accounting Period, and any prorated Rent at the end of the Term shall be prorated based upon the installment of Minimum Rent payable for the last full Accounting Period.
Minimum Rent. For the first (1st) Lease Year with respect to the Group 4 Facilities, the following:
(A) With respect to the Group 4 Acquisition Facilities, subject to upward adjustments as provided below, for the period from the Effective Date through the expiration of the first (151) Lease Year with respect to such Group 4 Acquisition Facilities, Lessee shall pay to Lessor as monthly "Allocated Minimum Rent" for each Group 4 Acquisition Facility at the times and in the manner provided in Section 4.1 of the Master Lease the amount allocated to and set forth or determined pursuant to the formula opposite such Facility on Exhibit C to the Master Lease, as hereby amended. The first monthly payment of Allocated Minimum Rent for each such Group 4 Acquisition Facility shall be payable on the Effective Date (prorated as to any partial calendar month at the beginning of the Term with respect to each such Facility); and
(B) With respect to the Group 4 Transfer Facilities, subject to upward adjustments as provided below, for the period from the Effective Date through December 31, 2005, Lessee shall pay to Lessor as monthly "Allocated Minimum Rent" for each Group 4 Transfer Facility at the times and in the manner provided in Section 4.1 of the Master Lease the amount allocated to and set forth or determined pursuant to the formula opposite such Facility on Exhibit C to the Master Lease, as hereby amended. The first monthly payment of Allocated Minimum Rent for each such Group 4 Transfer Facility shall be payable on the Effective Date (prorated as to any partial calendar month at the beginning of the Term with respect to each such Facility). Commencing on January 1, 2006, the then current monthly Allocated Minimum Rent for the Group 4 Transfer Facilities shall be increased by the lesser of (i) Five Percent (5%) or (ii) the greater of (a) Two Percent (2%) or (b) the Group 4 Transfer Facility CPI Index. The resulting amount shall be the Allocated Minimum Rent for such Group 4 Transfer Facilities until the expiration of the first (1 S1)Lease Year. For purposes of this Section 4(f)(i)(B), the "Group 4 Transfer Facility CPI Index" shall mean the percentage increase, if any, in the Cost of Living Index published for November 2005 over the Cost of Living Index published for November 2004.
Minimum Rent. During the Initial Term, Tenant agrees to pay to Landlord, without demand or set off, in lawful money of the United States, at the address specified in Section 28, or at such other location as Landlord may hereafter designate in writing, Minimum Rent for the Leased Premises which shall be Three Dollars ($3.00) per square foot, or Three Hundred Forty Five Thousand Dollars ($345,000.00) per year, which, for the convenience of the Landlord, shall be paid in equal monthly installments of Twenty Eight Thousand Seven Hundred Fifty Dollars ($28,750.00). During Renewal Term, if exercised, the Minimum Rent shall be Three and 50/100 Dollars ($3.50) per square foot, or Four Hundred Two Thousand Five Hundred Dollars ($402,500.00) per year, which shall be paid in equal monthly installments of Thirty Three Thousand Five Hundred Forty One and 67/100 Dollars ($33,541.67). Each installment of Minimum Rent and Additional Rent (as hereinafter defined), shall be due and payable in advance, on the first day of each month. The first payment of Minimum Rent and Additional Rent shall be due and payable on the Commencement Date. Rent for any period of less than a full month shall be prorated. The Minimum Rent and all other sums payable under this Lease shall be paid without notice, demand, counterclaim, set off, deduction, or defense and without abatement, suspension, diminution, or reduction, and the obligations and liabilities of Tenant under this Lease shall in no way be released, discharged or otherwise affected (except as otherwise expressly provided in this Lease herein) by reason of any occurrence whatsoever.
