Parking Rent. Resident agrees to pay Owner a sum of $0.00, as parking rent, due on the 1st day of each month with the regular installment payment. The installment amount listed in Section 5 of the Lease Contract (entitled "Rent") includes the parking rent.
Parking Rent. Beginning on June 1, 2015, Tenant shall be obligated to pay Landlord on a monthly basis One Hundred Ten and 00/100 Dollars ($110.00) per space, if any, in the Building Garage (exclusive of any taxes owed by Landlord on such parking fees). Tenant shall be obligated to pay Landlord on a monthly basis, commencing June 1, 2015, the greater of (a) Eighty-One and 00/100 Dollars ($81.00) per space or (b) the prevailing fair market rate per space in the Adjacent Garage (exclusive of any taxes owed by Landlord on such parking fees). The “prevailing fair market rate” shall be the same rate Landlord is currently being charged by the Adjacent Garage operator (“Operator”) for such spaces plus five percent (5%). Tenant shall be responsible for all taxes on Parking Rent.
Parking Rent. The rent ("Parking Rent") for the Parking Spaces shall be the ------------ rates from time to time designated by Landlord as standard for Landlord's parking spaces in the Approximate Garage for tenants of the Building. On the Effective Date, Landlord's current rates in the Approximate Garage for tenant's of the Building are$100.00 for each Unreserved Parking Space and$150.00 for each Reserved Parking Space. Landlord shall provide Tenant at least thirty (30) days notice of any change in the above rates in the Approximate Garage and the giving of such notice shall be deemed an amendment to this Exhibit and Tenant shall thereafter pay Parking Rent adjusted according to the new rates. Tenant shall have the right to terminate up to all or any number of the Reserved Parking Spaces or the Unreserved Parking Spaces then remaining under lease to Tenant, as the case may be, if Landlord adjusts the Parking Rent for the Reserved Parking Spaces or the Unreserved Parking Spaces to an amount in excess of the Average Rent (defined below) in any twelve (12) month period, commencing with the first twelve (12) months after the Fourth Expansion Space Rental Commencement Date and continuing with each successive twelve (12) month period after each anniversary of the Fourth Expansion Space Rental Commencement Date, if Landlord fails to adjust any Parking Rent so changed in excess of the applicable Average Rent to an amount equal to or less than the Average Rent within thirty (30) days after written notice thereof from Tenant to Landlord. As used in this Parking Agreement, the term "Average Rent"shall mean the average of the rates charged for reserved or unreserved parking other than the Parking Spaces, as the case may be, in the following garages: Xxxxxx Garage located at 1112 Clay, Howell Building, 777 Clay Garage, First City Center Garage, and Main Garage. For purposes of clarity, in the event the Parking Rate for only one category of Parking Spaces is increased in excess of the applicable Average Rent, such opportunity to terminate shall be limited to the category of Parking Spaces for which the Parking Rate has been adjusted to an amount in excess of the Average Rent and not to the other category of Parking Spaces. Landlord shall have no obligation to provide Tenant, and Tenant shall have no right to, any parking spaces that are so terminated by Tenant. All payments of rent for Parking Spaces shall be made (i) at the same time as Basic Monthly Rent is due under the Lease and...
Parking Rent. In addition to Base Rent and Additional Rent, Tenant shall pay to Landlord the monthly parking rent (the "Parking Rent"), if any, identified in the Basic Lease Information. Such Parking Rent shall be payable, without prior notice or demand, on the first day of each and every calendar month during the Term. Parking Rent for any partial month at the beginning or end of the Term shall be prorated based on the actual number of days in the month.
Parking Rent. Tenant shall not be obligated to pay any rental fees with respect to the Parking Spaces during the initial term of this Lease.
Parking Rent. One Hundred Twenty Five ($125.00) per stall per month in years One (1) to Five (5) escalating by Eight (8.0%) percent every Five (5) years (based on 274 parking stalls):
(i) Years 1-5 $ 411,000.00 $ 34,250.00 (ii) Years 6-10 $ 443,880.00 $ 36,990.00 (iii) Years 11-15 $ 479,390.00 $ 39,949.25 (iv) Years 16-20 $ 517,742.00 $ 43,145.17
Parking Rent. For and in consideration of the rights of Tenant and Tenant’s agents, invitees, employees, instructors, customers and students to park in the Student Garage Spaces and the Instructor Garage Spaces, Tenant will pay the following monthly fees to Landlord: (a) $20.00 per month for each of the Student Garage Spaces; and (b) the prevailing monthly contract rate for the Instructor Garage Spaces, as prevailing from time to time, plus state and local taxes (the “Parking Rent”). The current rate is $90.00 per space per month for each of the Instructor Garage Spaces. In connection with the foregoing, but without limiting the maximum number of parking spaces reserved for Tenant’s use during the term of this Lease as set forth herein above, for and with respect to each calendar quarter during the term of this Lease, Tenant shall be responsible and liable to pay the Parking Rent for, and Tenant and Tenant’s agents, invitees, employees, instructors, customers, students, and visitors shall have the right to use, only the number of Student Garage Spaces and Instructor Garage Spaces specified by Tenant in a written notice (each, a “Parking Notice”) provided by Tenant to Landlord’s Parking Contact (defined below) via email at least forty-five (45) days prior to the first day of each calendar quarter during the term of this Lease. If Tenant fails to deliver a Parking Notice as aforesaid at least forty-five (45) days prior to the first day of any calendar quarter during the term of this Lease, then, for and with respect to any such calendar quarter, Tenant shall be deemed to require use of sixty (60) Student Garage Spaces and ten (10) Instructor Garage Spaces. Tenant shall have the right to modify the number of parking spaces specified in any Parking Notice by delivery of written notice to Landlord’s Parking Contact via email at least forty-five (45) days prior to the first day of the relevant calendar quarter. As used herein, “Landlord’s Parking Contact” means Xxxxx Xxxxxxxxxx, whose email address is xxxxxx@xxxxxxxxxxxx.xxx. Landlord may replace Landlord’s Parking Contact at any time during the term of this Lease by providing written notice thereof to Tenant in accordance with Section 19.4
Parking Rent. Tenant will pay parking rent to Landlord attributable to the Parking Premises which will constitute additional Basic Rent and which shall be paid together with and in addition to Tenant's payment of Basic Rent attributable to the Premises in the manner described in Section 2.1.
1. For the Initial Term, the parking rent attributable to the Parking Premises shall be equal to One Hundred and No/100 Dollars ($100) per month for each stall based on a ratio of one stall per 5,567 rentable square feet of the Premises. During the Renewal Term the parking rent attributable to the Parking Premises shall be equal to the then fair "market rent" for each stall subject to this Lease based on the ratio as set forth herein. If the parties cannot agree upon the amount of the parking rent attributable to the Parking Premises, then the parties shall resort to the appraisal procedures set forth in Section 1.2.7(c).
Parking Rent. For each Parking Space, Tenant shall pay Landlord as monthly rent, the following amounts ("Parking Rent"), which are inclusive of all applicable sales and use taxes applicable to such permits and the services provided thereunder:
a. Unreserved Parking Spaces - $41.65 per month per Unreserved Parking Space reserved by Tenant;
b. Reserved Parking Spaces & VIP Parking Spaces - $78.10 per month per Reserved Parking Space or VIP Parking Space reserved by Tenant;
c. Valet Parking Spaces - $78.10 per month per Valet Parking Space reserved by Tenant;
d. Parking Rent for any expansion of the Leased Premises shall be the prevailing market rent for such reserved or unreserved parking space(s); and
e. All Parking Rent shall be abated (except any for Above Standard Parking Usage Fees (defined below) and charges incurred by Tenant for use of the valet parking and Valet Parking Spaces) for the first thirty-five (35) full calendar months following the Effective Date.
Parking Rent. On or before the twentieth (20th) day of each month during the Term, Tenant shall pay to Landlord monthly rent for the use of the Parking Premises and the Premises Surface Parking equal to (x) during the First (1st) Lease Period, Second (2nd) Lease Period and the Third (3rd) Lease Period, the product of five percent (5%) multiplied by all Parking Revenue for the applicable calendar month and (y) during the Fourth (4th) Lease Period, the product of seven and a half percent (7.5%) multiplied by all Parking Revenue for the applicable calendar month (“Parking Rent”). “Parking Revenue” means, for any period of time, the following amounts whether collected or uncollected, received, payable or accrued by Tenant, without any deductions or exclusions, whether paid in cash or for credit: (a) any amounts paid to Tenant by any Person for using a parking space at the Premises (including in the Parking Improvements) through the valet service for the Resort Hotel or the Convention Center and (b) any amounts paid to Tenant by any Person for self-parking at the Premises (including in the Parking Improvements) or Convention Center Land; provided, however, that Tenant may deduct from the Parking Revenue, for such period of time, any refunds, rebates, discounts or credits which Tenant issues to Tenant’s employees, Subtenants, independent contractors, visitors, patrons, customers, invitees or any other third party; provided, further, that, with respect to refunds only, Tenant may deduct any material refund only if such refund is documented in a reasonable form which is provided to Landlord as part of the Monthly Parking Report. Tenant shall operate the Parking Improvements in substantially the same manner as comparable parking improvements for a convention center hotel, conference center hotel, or resort hotel.
