Payment of Periodic Rent. The Lessee hereby agrees to pay to the Owner Lessor basic lease rent for the lease of the Project (the "Periodic Lease Rent"), payable with respect to the Basic Lease Term thereof, as follows: each payment of Periodic Lease Rent shall be payable on each Rent Payment Date in the amount equal to, subject to Section 3.4 of the Project Lease, the product of (x) the Head Lease Rent therefor multiplied by (y) the percentage set forth opposite such Rent Payment Date on Schedule 1 hereto under the caption "Periodic Lease Rent Percentage."
Appears in 4 contracts
Samples: Participation Agreement (Ormat Technologies, Inc.), Participation Agreement (Ormat Technologies, Inc.), Project Lease Agreement (Ormat Technologies, Inc.)
