Payment of Deferred Base Rent Balance Sample Clauses

Payment of Deferred Base Rent Balance. (i) Commencing in 2020, twice each calendar year, on or before April 30 (with respect to the prior calendar year) and August 15 (with respect to the first six months of such calendar year), and each calendar year thereafter until Deferred Base Rent Balance has been paid in full (each a “Deferred Rent Paydown Calculation Date”), the Tenant shall provide to OHI a calculation of: (A) Tenant’s Share of the UPL-IGT Revenue for such period; (B) Increased Revenue in connection with Provider Taxes for such period; and (C) Fifty Percent (50%) of the sum of (A) and (B) (the “Deferred Rent Paydown Amount”). An officer of the Tenant shall certify that such calculations are true and correct. Landlord may review and object to any such calculations. Certain confidential information has been omitted from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. Such omitted information is marked with “[*****]” (OHI – Diversicare) (ii) On the tenth (10th) day after the Deferred Rent Paydown Calculation Date, Tenant shall pay to Landlord an amount equal to the lesser of (A) the Deferred Rent Paydown Amount, and (B) the Deferred Rent Balance, to be applied against the Deferred Rent Balance. (iii) Notwithstanding anything in this Lease to the contrary, the entire Deferred Base Rent Balance shall be due and payable in full on the earlier to occur of (A) the occurrence, and during the continuance, of a Deferred Rent Default, (B) the termination of this Lease, (C) the termination of Tenant’s right of possession to one or more Facilities under this Lease after an Event of Default, or (D) the first day of the first month after the end of the Deferral Period. Certain confidential information has been omitted from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. Such omitted information is marked with “[*****]” (OHI – Diversicare)
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Related to Payment of Deferred Base Rent Balance

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  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

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