Common use of Payment of Rentals Clause in Contracts

Payment of Rentals. (a) The first lease rental payment shall be due on the later of (i) the date the Leased Premises are available for use and occupancy by the Lessees, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than June 3, 2012, as set forth in the addendum referred to in Section 3(a) above. If the first rental payment date on the Leased Premises is other than June 15 or December 15, the first rental payment shall be for an amount calculated at the rate for that Semi-annual Period from the date of payment to the next June 15 or December 15. Thereafter, rentals on the Leased Premises shall be payable in advance in semi-annual installments on June 15 and December 15 of each year. The last semi-annual rent payment on the Leased Premises due shall be adjusted to provide for a rental payment at the rate specified above from the date such installment is due to the expiration of this Lease. (b) All rentals payable under the terms of this Lease shall be paid by the Lessees to the Trustee under the Indenture or to such other bank or trust company as may from time to time succeed the Trustee as trustee under the Indenture. Any successor trustee under the Indenture shall be endorsed on this Lease at the end hereof by the parties hereto as soon as possible after selection, and such endorsement shall be recorded as an addendum to this Lease. All payments so made by the Lessees shall be considered as payment to the Lessor of the rentals payable hereunder.

Payment of Rentals. (a) The first lease rental payment shall be due on the later of (i) the date the Leased Premises are available for use and occupancy is acquired by the LesseesLessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than June 3February 1, 20122023, as set forth in the addendum referred to in Section 3(a) above. If the first rental payment date on the Leased Premises is other than June 15 February 1 or December 15August 1, the first rental payment shall be for an amount calculated at the rate for that Semisemi-annual Period period from the date of payment to the next June 15 February 1 or December 15August 1. Thereafter, rentals on the Leased Premises shall be payable in advance in semi-annual installments on June 15 February 1 and December 15 August 1 of each year. The last semi-annual rent payment on the Leased Premises due shall be adjusted to provide for a rental payment at the rate specified above from the date such installment is due to the expiration of this Lease. (b) All rentals payable under the terms of this Lease shall be paid by the Lessees Lessee to the Trustee bank or trust company designated as trustee (“Trustee”) under the Trust Indenture between it and the City securing the Bonds (“Indenture”), or to such other bank or trust company as may from time to time succeed the such bank as Trustee as trustee under the IndentureIndenture securing the Bonds to be issued by the City to finance all or a portion of the acquisition and construction of the Fieldhouse Project. Any successor trustee under the Indenture shall be endorsed on this Lease at the end hereof by the parties hereto as soon as possible after selection, and such endorsement shall be recorded as an addendum to this Lease. All payments so made by the Lessees Lessee shall be considered as payment to the Lessor of the rentals payable hereunder.

Payment of Rentals. (a) The first lease rental payment shall be due on the later of of (i) the date the Leased Premises are available for use and occupancy is acquired by the LesseesLessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than June 3February 1, 20122023, as set forth in the addendum referred to in Section 3(a) above. If the first rental payment date on the Leased Premises is other than June 15 February 1 or December 15August 1, the first rental payment shall be for an amount calculated at the rate for that Semisemi-annual Period period from the date of payment to the next June 15 February 1 or December 15August 1. Thereafter, rentals on the Leased Premises shall be payable in advance in semi-annual installments on June 15 February 1 and December 15 August 1 of each year. The last semi-annual rent payment on the Leased Premises due shall be adjusted to provide for a rental payment at the rate specified above from the date such installment is due to the expiration of this Lease. (b) All rentals payable under the terms of this Lease shall be paid by the Lessees Lessee to the Trustee bank or trust company designated as trustee (“Trustee”) under the Trust Indenture between it and the City securing the Bonds (“Indenture”), or to such other bank or trust company as may from time to time succeed the such bank as Trustee as trustee under the IndentureIndenture securing the Bonds to be issued by the City to finance all or a portion of the acquisition and construction of the Public Infrastructure Project. Any successor trustee under the Indenture shall be endorsed on this Lease at the end hereof by the parties hereto as soon as possible after selection, and such endorsement shall be recorded as an addendum to this Lease. All payments so made by the Lessees Lessee shall be considered as payment to the Lessor of the rentals payable hereunder.

Payment of Rentals. (a) The first lease rental payment shall be due on the later of (i) the date the Leased Premises are available for use and occupancy by the LesseesLessee, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than June 3, 2012, as set forth in the addendum referred to in Section 3(a2(a) above. If the first rental payment date on the Leased Premises is other than June July 15 or December January 15, the first rental payment shall be for an amount calculated at the rate for that Semi-annual Period from the date of payment to the next June July 15 or December January 15. Thereafter, rentals on the Leased Premises shall be payable in advance in semi-annual installments on June July 15 and December January 15 of each year. The last semi-annual rent payment on the Leased Premises due shall be adjusted to provide for a rental payment at the rate specified above from the date such installment is due to the expiration of this Sub-Lease. (b) All rentals payable under the terms of this Sub-Lease shall be paid by the Lessees Lessee to the Trustee under the Indenture or to such other bank or trust company as may from time to time succeed the Trustee as trustee under the Indenture. Any successor trustee under the Indenture shall be endorsed on this Sub-Lease at the end hereof by the parties hereto as soon as possible after selection, and such endorsement shall be recorded as an addendum to this Sub-Lease. All payments so made by the Lessees Lessee shall be considered as payment to the Lessor of the rentals payable hereunder.

Payment of Rentals. (a) The first lease rental payment shall be due on the later of of (i) the date the Leased Premises are available for use and occupancy Real Estate is acquired by the LesseesLessor, or (ii) a date to be determined at the time of the sale of the Bonds, but no earlier than June 315, 2012201 , as set forth in the addendum referred to in Section 3(a) above. If the first rental payment date on the Leased Premises is other than June January 15 or December July 15, the first rental payment shall be for an amount calculated at the rate for that Semi-annual Period from the date of payment to the next June January 15 or December July 15. Thereafter, rentals on the Leased Premises shall be payable in advance in semi-annual installments on June January 15 and December July 15 of each year. The last semi-annual rent payment on the Leased Premises due shall be adjusted to provide for a rental payment at the rate specified above from the date such installment is due to the expiration of this Lease. (b) All rentals payable under the terms of this Lease shall be paid by the Lessees Lessee to the Trustee bank or trust company designated as trustee (“Trustee”) under the Trust Indenture between it and the Lessor (“Indenture”), or to such other bank or trust company as may from time to time succeed the such bank as Trustee as trustee under the IndentureIndenture securing the bonds to be issued by the Lessor to finance the acquisition and construction of the Leased Premises. Any successor trustee under the Indenture shall be endorsed on this Lease at the end hereof by the parties hereto as soon as possible after selection, and such endorsement shall be recorded as an addendum to this Lease. All payments so made by the Lessees Lessee shall be considered as payment to the Lessor of the rentals payable hereunder.