Participating Rent. For each calendar month during the Term, Lessee shall pay percentage rent ("Participating Rent") in arrears in an amount calculated by the following formula (the "Revenues Computation"): For any month, Participating Rent shall equal: The amount equal to the Monthly Revenue Computation (defined below) less an amount equal to the Base Rent paid for the Lease Year to date less an amount equal to the Participating Rent paid for the Lease Year to date. The Participating Rent due for each calendar month during the Term shall be paid on or before the 21st day of the succeeding month. In no event shall Participating Rent be less than zero. For purposes of defining the Monthly Revenues Computation:
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Samples: Merger Agreement (American General Hospitality Corp), Merger Agreement (Capstar Hotel Co)
Participating Rent. For each calendar month during the Term, ------------------ Lessee shall pay percentage rent ("Participating Rent") in arrears in an amount calculated by the following formula (the "Revenues Computation"): For any month, Participating Rent shall equal: The amount equal to the Monthly Revenue Computation (defined below) less an amount equal to the Base Rent paid for the Lease Year to date less an amount equal to the Participating Rent paid for the Lease Year to date. The Participating Rent due for each calendar month during the Term shall be paid on or before the 21st twenty-first (21st) day of the succeeding month. In no event shall Participating Rent be less than zero. For purposes of defining the Monthly Revenues Computation:
Appears in 1 contract
Samples: Lease Agreement (American General Hospitality Corp)
Participating Rent. For each calendar month during the Term, Lessee shall pay percentage rent ("Participating Rent") in arrears in an amount calculated by the following formula (the "Revenues Computation"): For any month, Participating Rent shall equal: The amount equal to the Monthly Revenue Revenues Computation (defined below) less an amount equal to the Base Rent paid for the Lease Year to date less an amount equal to the Participating Rent paid for the Lease Year to date. The Participating Rent due for each calendar month during the Term shall be paid on or before the 21st twenty-first (21st) day of the succeeding month. In no event shall Participating Rent be less than zero. For purposes of defining the Monthly Revenues Computation:
Appears in 1 contract
