NET LEASE; CAPITAL REPLACEMENT RESERVE. This Lease shall be a triple net lease and Rent shall be payable to Landlord without notice or demand and without set-off, counterclaim, recoupment, abatement, suspension, determent, deduction or defense, except as expressly provided herein, so that this Lease shall yield to Landlord the full amount of the installments of Base Rent, Percentage Rent and Additional Charges throughout the Term. Without limiting the foregoing, Tenant shall pay to Landlord on a monthly basis along with Base Rent, as additional rent, an amount equal to one-twelfth (1/12) of the Capital Replacement Reserve. Such amounts shall be subject to reconciliation at the end of each Fiscal Quarter and at the end of each Fiscal Year.
Appears in 7 contracts
Samples: Pledge Agreement (Golf Trust of America Inc), Lease (Golf Trust of America Inc), Lease (Golf Trust of America Inc)
NET LEASE; CAPITAL REPLACEMENT RESERVE. This Lease shall be a triple net lease and Rent shall be payable to Landlord without notice or demand and without set-off, counterclaim, recoupment, abatement, suspension, determent, deduction or defense, except as expressly provided herein, so that this Lease shall yield to Landlord the full amount of the installments of Base Rent, Percentage Rent and Additional Charges throughout the Term. Without limiting the foregoing, Tenant shall pay to Landlord on a monthly basis along with Base Rent, as additional rent, an amount equal to one-twelfth (1/12) of the Capital Replacement Reserve. Such amounts amount shall be subject to reconciliation at the end of each Fiscal Quarter and at the end of each Fiscal YearQuarter.
Appears in 2 contracts
Samples: Lease (Golf Trust of America Inc), Golf Trust of America Inc
NET LEASE; CAPITAL REPLACEMENT RESERVE. This Lease shall be a triple net lease and Rent shall be payable to Landlord without notice or demand and without set-off, counterclaim, recoupment, abatement, suspension, determent, deduction or defense, except as expressly provided herein, so that this Lease shall yield to Landlord the full amount of the installments of Base Rent, Percentage Rent, FB&M Rent and Additional Charges throughout the Term. Without limiting the foregoingIn addition, Tenant shall pay to Landlord on a monthly basis along with Base Rentat the end of each calendar quarter, as additional rent, an amount equal to one-twelfth (1/12) of the Capital Replacement Reserve. Such amounts amount shall be subject to reconciliation at the end of each Fiscal Quarter and at the end of each Fiscal Yearannual reconciliation.
Appears in 1 contract
Samples: Lease (Golf Trust of America Inc)