Overage Rent Sample Clauses

Overage Rent. (a) Any of the following charges and/or rents provided for by any Space Lease: (i) the payment of additional rent based upon a percentage of the Tenant's business during a specified annual or other period (sometimes referred to as "percentage rent"), (ii) common area maintenance or "CAM" charges, (iii) "escalation rent" or additional rent based upon increases in real estate taxes, operating expenses, labor costs, cost of living, pxxxxx'x wages, or other index including the consumer price index or otherwise, or (iv) any other items of additional rent, e.g., charges for electricity, ---- water, cleaning, overtime services, sundries and/or miscellaneous charges, shall be adjusted and prorated on an if, as and when collected basis (such percentage rent, CAM charges, escalation rent and other additional rent being collectively called "Overage Rent").
Sample 1
AutoNDA by SimpleDocs
Overage Rent. In addition to such Fixed Rent, Subtenant shall pay to Sublandlord, during the term hereof, overage rent in the monthly amount of Two Hundred Thirty-Three Dollars ($233.00) which amount shall be payable to Sublandlord, without notice, on the first day of each month during the term.
Sample 1
Overage Rent. (i) All reimbursements or payments in respect of operating expenses, real estate taxes, and other charges (collectively, "OVERAGE RENT") paid pursuant to the Lease for the accounting period in which the Closing occurs shall when received be apportioned between Owner and the Company as of 11:59 P.M. of the day preceding the Closing Date. Owner shall be entitled to receive the proportion of such Overage Rent (less any reasonable costs and expenses incurred in the collection of such Overage Rent), that the portion of such accounting period prior to the Closing Date bears to the entire such accounting period. The Company shall be entitled to receive the proportion of such Overage Rent (less any reasonable costs and expenses incurred in the collection of such Overage Rent) that the portion of such accounting period from and after the Closing Date bears to the entire such accounting period. If, prior to the Closing, Owner shall receive any installments of Overage Rent attributable to Overage Rent for periods from and after the Closing Date, such sum shall be credited against the Cash Balance payable by the Company at the Closing. As to Overage Rent in respect of an accounting period that shall have expired prior to the Closing, but which shall be paid after the Closing, the Company agrees that it will pay the entire amount over to Owner upon receipt thereof, less the Company's reasonable costs of collection reasonably allocable thereto. The Company agrees that it shall promptly render bills for any Overage Rent in respect of an accounting period that shall have expired prior to Closing but which shall be payable after the Closing, and use commercially reasonable efforts in the collection of Overage Rent, provided, however, that the Company shall have no obligation to commence any legal actions or proceedings to collect any such Overage Rent. Owner shall furnish to the Company all information relating to the period prior to the Closing that is reasonably necessary for the billing of such Overage Rent. The Company shall deliver to Owner, concurrently with the delivery to Tenant, copies of all statements relating to Overage Rent for periods prior to the Closing.
Sample 1
Overage Rent. In addition to the Net Minimum Rental hereabove reserved, the Lessee covenants and agrees with the Lessor hat commencing on the first (1st) day of the month following the "Overage Date" (as hereinafter defined) and on the first day of each succeeding month during the balance of the first three (3) Lease Years of the Term, the Lessee will pay to the Lessor an additional rental (sometimes hereinafter called "Overage Rent') as hereinafter provided. On or before the fifteenth (15th) day after the close of each and every calendar quarter (such last day of the quarter shall herein be referred to as "Quarterly Reporting Date") during the term, the Lessee shall render a true and correct statement signed by the Chief Financial Officer of Lessee certifying the total level of "Deposits at the Premises". The last day of the first quarter in which the level of Deposits at the Premises shall equal or exceed $20 million shall be deemed to be the Overage Date. If the Overage Date is determined at a time after the first installments of Overage Rent is payable to Lessor, such installments shall be paid to Lessor with the installment of Overage Rent next due after the Overage Date is determined. Overage Rent shall thereafter be due for each month on. during the first three (3) Lease Years of the Original Term as follows:
Sample 1
Overage Rent. 37 percentage rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Sample 1
Overage Rent. The following proration principles shall apply to the proration of overage rents, whether finally determined before or after the expiration of the relevant fiscal years under the respective Leases. Overage rents shall be separately prorated under each Lease on the basis of the fiscal year set forth in such Lease for the payment of overage rents. All interim overage rent payments made before the Closing Date shall be retained by Seller until year-end adjustment and determination of Seller's allocable share thereof, except that interim payments received by either party for the month in which the Closing Date occurs shall be prorated between Seller and Purchaser based upon the number of days in that month occurring prior to the Closing Date, and the party receiving the interim payment shall remit to or credit, as the case may be, the other party its proportionate share for such month. At Closing Purchaser shall provide to Seller security in a form of a guaranty from the fee simple owner of each shopping center in a form reasonably acceptable to Seller ("Overage Rent Security") to ensure the payment to Seller of all overage rents to which Seller will be entitled upon final proration of overage rents ("Seller's Overage Rent"), as provided below. All amounts received by Purchaser on or after the Closing Date as interim payments of overage rents shall be retained by Purchaser until year-end adjustment and determination of Seller's allocable share thereof. Upon final determination of overage rents collected from a tenant for the fiscal year under its Lease in which the Closing Date occurs, Seller and Purchaser shall adjust between themselves amounts collected for such fiscal year on account of overage rents, and Seller's allocable share of such overage rents shall be equal to an amount determined by multiplying total overage rents collected for such fiscal year by a fraction whose numerator is the number of days in such fiscal year before the Closing Date, and whose denominator is the total number of days in such fiscal year. Purchaser shall furnish Seller with financial statements indicating the sales and percentage rent figures for each tenant for all relevant periods. Within fifteen (15) days after final determination of overage rents collected from any tenant for the fiscal year in which the Closing Date occurs, Purchaser shall remit to Seller its allocable share, less interim payments previously retained by Seller, if any. If Seller has retained amounts in ex...
Sample 1
Overage Rent. (a) With respect to any Lease that provides for (i) the payment of additional rent based upon a percentage of the tenant's business during a specified annual or other period (sometimes referred to as "percentage rent"), (ii) so-called common area maintenance or "cam" charges or (iii) so-called "escalation rent" or additional rent based upon, among other things, increases in real estate taxes or operating expenses or labor costs or cost of living or portxx'x xxxes or otherwise (such percentage rent, cam charges, escalation rent and additional rent being collectively called "OVERAGE RENT"), such Overage Rent shall be adjusted and prorated on an if, as and when collected basis.
Sample 1
AutoNDA by SimpleDocs
Overage Rent. 15 percentage rent .......................................................... 15
Sample 1
Overage Rent. (16) To be deleted if pursuant to applicable option provision of Declaration, Unit is to be delivered vacant and free and clear of tenancies at Closing.
Sample 1

Related to Overage Rent

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Fixed Rent Tenant agrees to pay to Landlord, on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1/12th) of the Annual Fixed Rent specified in Section 1.1 hereof. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to or for the order of Boston Properties Limited Partnership, as agent of Landlord. All remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, as agent as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Rent Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Rent Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.

  • Rent Beginning on the Commencement Date, Tenant covenants and agrees to pay, without abatement, deduction or offset except as otherwise specifically provided herein, to Landlord, “Base Rent” for the Premises, on or before the first (1st) day of the first (1st) full calendar month of the Term hereof and on or before the first (1st) day of each and every successive calendar month thereafter during the full Term of this Lease and any renewal thereof, subject to the adjustments as provided hereinafter along with any applicable tax as defined herein, at the then current rate. If the Commencement Date occurs on a day other than the first (1st) day of a calendar month, the first Base Rent payment shall be in the amount of the Base Rent for one (1) full calendar month plus the prorated Base Rent for the calendar month in which the Commencement Date falls, such payment to be due on the Commencement Date. The Prepaid Rent described above shall be applied by Landlord to the Rent payable for the first full month that Rent is due. If Tenant fails to pay any regular monthly installment of Base Rent or Landlord’s Operating Costs or any other monthly amounts by the seventh (7th) day of the month in which such installment is due (provided that Landlord will be required to give Tenant written notice of Tenant’s failure to pay any such monthly payments two (2) times in any twelve (12) month period prior to such late fees being charged), or if Tenant fails to pay any other sum of money within thirty (30) days after written notice by Landlord to Tenant, or if any check delivered for the payment of Rent is returned for insufficient funds, there will be added to the unpaid amount a late charge based on the monthly prorata percentage of the Default Rate and applied to the amount due to compensate Landlord for the extra administrative expenses incurred. Notwithstanding anything to the contrary above, Landlord agrees that it will not impose the aforesaid late charges unless Tenant has failed to pay any installment of Rent on the due date thereof (and such failure shall not have been cured on or before the last day of any grace period, if any) two (2) times in any twelve (12) month period. The Base Rent payable by Tenant to Landlord shall be in accordance with the following schedule:

  • 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.

  • Additional Rent In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.

  • Monthly Rent The rent payable pursuant to Paragraph 5.A., as adjusted from time to time pursuant to the terms of this Lease.

  • 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:

  • Percentage Rent Any percentage rents due or paid under any of the Leases (“Percentage Rent”) shall be prorated between Buyer and Seller outside of Closing as of the Close of Escrow on a Lease-by-Lease basis, as follows; (a) Seller shall be entitled to receive the portion of the Percentage Rent under each Lease for the Lease Year in which Closing occurs, which portion shall be the ratio of the number of days of said Lease Year in which Seller was Landlord under the Lease to the total number of days in the Lease Year, and (b) Buyer shall receive the balance of Percentage Rent paid under each Lease for the Lease Year. As used herein, the term “Lease Year” means the twelve (12) month period as to which annual Percentage Rent is owed under each Lease. Upon receipt by either Buyer or Seller of any gross sales reports (“Gross Sales Reports”) and any full or partial payment of Percentage Rent from any tenant of the Property, the party receiving the same shall provide to the other party a copy of the Gross Sales Report and a check for the other party’s prorata share of the Percentage Rent within five (5) days of the receipt thereof. In the event that the Tenant only remits a partial payment, then the amount to be remitted to the other party shall be its prorata share of the partial payment. Nothing contained herein shall be deemed or construed to require either Buyer to Seller to pay to the other party its prorata share of the Percentage Rent prior to receiving the Percentage Rent from the Tenant, and the acceptance or negotiation of any check for Percentage Rent by either party shall not be deemed a waiver of that party’s right to contest the accuracy or amount of the Percentage Rent paid by the Tenant.

  • Lease Year Lease Year" means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Holdover Rent Any holding over by the Tenant after the expiration or earlier termination of the Term shall be treated as a tenancy at sufferance, at the Rent set forth below, and otherwise on the terms and conditions of this Lease. Landlord and Tenant recognize that Landlord’s damages resulting from Tenant’s failure to timely surrender possession of the Premises may be substantial, may exceed the amount of the Rent payable hereunder, and will be impossible to accurately measure. Accordingly, if possession of the Premises is not surrendered to Landlord by the Expiration Date or sooner termination of this Lease, in addition to any other rights or remedies Landlord may have hereunder or at law, Tenant shall pay to Landlord for each month (or any portion thereof) during which Tenant holds over in the Premises after the Expiration Date or sooner termination of this Lease, a sum equal to one hundred fifty percent (150%) of the Rent payable under this Lease for the last full calendar month of the Term prorated daily for each day of holdover. In addition, if Tenant holds over in the Premises for more than thirty (30) days after the Expiration Date or sooner termination of this Lease, then Tenant shall indemnify Landlord against (i) all claims for damages by any tenant obtained by Landlord for all or any part of the Premises (a “New Tenant”), and (ii) all consequential, indirect, and special damages incurred by Landlord arising out of or resulting of any such holding-over by Tenant, including, without limitation, the loss of the benefit of the bargain if any New Tenant shall terminate its lease by reason of the holding over by Tenant. No holding-over by Tenant nor the payment to Landlord of the amounts specified above, shall operate to extend the Term hereof. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or sooner termination of this Lease, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of this Lease shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Section 18.2.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!