Payment of Annual Rent. The Tenant must pay the Annual Rent by four equal instalments in advance on or before the Rent Payment Dates except that:
(a) the Tenant must pay the first instalment of Annual Rent on the Rent Commencement Date; and
(b) that first instalment of Annual Rent shall be for the period from and including the Rent Commencement Date to and including the day before the next Rent Payment Date after the Rent Commencement Date.
Payment of Annual Rent. Annual Rent shall be paid to Landlord In equal monthly installments payable in advance on the first day of each calendar month, with the first instalment (prorated to cover the number of days then remaining in the calendar month) to be paid on the Commencement Date (and the last instalment to be prorated to cover the number of days then remaining in the Term). The Deposit, as such term is defined In the Offer to Lease, shall be applied as provided in the Offer to Lease.
Payment of Annual Rent. Tenant shall pay the Annual Rent (as defined in the Key Term above) to Land Owner in a single payment, without setoff or deduction, at P.O. Xxx 0000, Xxxxx Xxxx, NB E2L 4M3, Attn. Property Manager, or at such other place as Land Owner may designate in writing, on or before commencement of the Term.
Payment of Annual Rent. From the Commencement Date until the date of Project Opening, Annual Rent shall be paid in equal monthly installments, with each installment equal to
1/ 12th of the applicable Minimum Rent. On the date of Project Opening, Annual Rent shall be paid on a monthly basis as provided in Section 5(a)(iii)(B). In the event the Commencement Date, the date of Project Opening, or the date the Term expires occurs on a date which is not the first day of a month, the relevant monthly installment of Annual Rent shall be prorated per diem, based on the number of days of such month included within the applicable Rent period. Payments of Annual Rent shall be subject to quarterly adjustment as provided in this subsection (c) in the event and to the extent Minimum Rent accruing for such quarterly period is exceeded by Percentage Rent (4% x AGR) accruing for such quarterly period. As used in this Lease, the term "Adjusted Gross Receipts" or "AGR" shall mean the gross receipts from licensed gambling games and devices less winnings paid to wagerers and the 20% tax paid to the State of Missouri pursuant to Section 318.822 of the Revised Missouri Statutes. In the event Percentage Rent exceeds Minimum Rent during any quarter, Tenant shall pay such difference to Landlord, as an adjustment to Minimum Rent, not later than 45 days after the end of each quarter. At the end of each Lease Year, Tenant shall be entitled to a credit against Rent next due to the extent of any overpayments of Percentage Rent made by Tenant during such Lease Year. Tenant shall report AGR to Landlord on a quarterly basis in accordance with the provisions of Section 13.
Payment of Annual Rent. The Lessee shall pay the Annual Rent without deduction or set-off in the manner and at the times provided in Item 3 of Schedule A. Payment of Lessee Outgoings The Lessee shall be responsible for payment of all operating costs and outgoings properly and reasonably incurred in respect of the Land, and in respect of the use of the Lessor's Property and Lessee's Improvements for the purposes of the COHS, such costs and outgoings including, but not limited to, charges for: all repairs and maintenance (including structural repairs and maintenance) to any Lessor's Property or Xxxxxx's Improvements other than those payable by the Lessor in accordance with clauses 2.12(f), 3.2, 3.4, and 3.5 of this lease; rates or levies payable to any Authority (having due regard to the Lessor’s exemption from general rates); insurance premiums (as described in item 2.22 of Schedule B); charges for water, gas, electricity, telephones and other utilities or services used or consumed by the Lessee on the Land; cleaning of any buildings on the Land whether using a shared cleaning service with the Lessor or otherwise; rubbish collection charges; New Zealand Fire Service charges and maintenance charges in respect of all fire detection and fire fighting equipment; the cost of ground maintenance, including lawns, gardens and planted areas including plant hire and replacement; carparking area maintenance and repair charges; all costs associated with the repair, maintenance or replacement of any fencing on the Land; all costs associated with complying with any statutory, regulatory, code or by-law requirement concerning the use and occupation of the Land and/or Lessee's Improvements, including compliance the Building Act 2004; and all costs associated with testing of electrical equipment as required by AS/NZS 3760:2003 In-service safety inspection and testing of electrical equipment.
Payment of Annual Rent. The Lessee shall pay the annual rent in the manner and at the times provided in Item 3 of Schedule A.
Payment of Annual Rent. The Lessee shall pay the annual rent without deduction or set off in the manner and at the times provided in Item 3 of Schedule A. All payments of rent shall be paid by direct bank payment or as the Lessor may direct.
Payment of Annual Rent. Section 5(d) is hereby modified to read as follows:
Payment of Annual Rent. In consideration of Tenant’s agreement to release the Prepaid Rent, the First Payment and the Second Payment to the Landlord to reimburse Landlord for planning and development of the NIMA Site, Tenant shall be given full credit in the amount of $2,500,000 toward payment of the $4,000,000 Minimum Rent due in the first year of the term of the Lease. Beginning on the tenth day of the month after the third full month of operation and on or before the tenth day of each month thereafter to and including the last month of first year of the Term, Tenant shall pay to Landlord the amount of One Hundred Sixty-Six Thousand Six Hundred Sixty-Six and 66/100 Dollars ($166,666.66) and thereafter Three Hundred Thirty-Three Thousand Three Hundred Thirty-Three and 33/100 Dollars ($333,333.33) per month until the end of the Term, as Minimum Rent. On or before the 45th day following the end of each calendar year following the Commencement Date, Tenant shall pay to Landlord an amount equal to 2.5% of AGR less the total monthly payments of Minimum Rent made for such year. Tenant shall report AGR to Landlord on a yearly basis in accordance with the provisions of Section 13. If the Tenant shall owe Minimum Rent to the Landlord for a partial month under the terms of the Lease, the payments thereof shall be made pro rata on the basis of the number of actual days due and owing.”
Payment of Annual Rent. A. Tenant shall pay Base Rent in the amount of Twenty Four Thousand and no/100th Dollars ($24,000) per month (Two Hundred Eighty-eight Thousand and no/100th Dollars [$288,000.00] per year) to Landlord in monthly installments in advance on or before the first day of each month.
B. Tenant shall pay Percentage Rent commencing with the second Lease Year on the basis of the Gross Receipts for the preceding Lease Year. Percentage Rent shall be equal to 3.5% of Gross Receipts in excess of $1,500,000 per Lease Year. Except as otherwise expressly provided in this Ground Lease, Percentage Rent shall be calculated (and paid) on an annual basis by May 1st of each year.
C. Tenant shall be entitled to receive a credit against Annual Rent for capital improvements listed in Exhibit C or approved in writing by the Landlord prior to commencement of the work. This Tenant Improvement Allowance may not exceed $100,000.00 per Lease Year for each Lease Year in the Initial Term of this Lease. This allowance is provided only for actual expenses, not prospective expenses. Tenant must provide to Landlord receipts to document approved expenses prior to claiming this credit. Expenses that exceed $100,000 in a particular year may be rolled over for credit in a subsequent year; provided, however, that Tenant shall receive a credit of no more than $100,000 in each year of the Initial Term, and no credits in any Extension Term. For example, if $300,000 is spent in Year 1, it may be claimed as a credit in Years 1, 2 and 3.
