Percentage Lease Sample Clauses

Percentage Lease. (a) Mortgagor represents that the Percentage Lease is the only Lease affecting the Mortgaged Property and that as of the date hereof the Percentage Lease has at least eight (8) years remaining on its term and is unmodified and in full force and effect, and to Mortgagor’s best knowledge, no event of default has occurred and is continuing under the Percentage Lease. The Percentage Lease is and shall remain subordinate to the Mortgage (either by the terms of the Percentage Lease or pursuant to a subordination agreement). Either party to the Percentage Lease may terminate the Percentage Lease upon an Event of Default under the Loan Documents. Mortgagor shall cause the lessee under the Percentage Lease to comply with the terms and conditions of the Percentage Lease.
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Percentage Lease. 22 1.13 Alienation and Further Encumbrances............................................................24 1.14 Payment of Utilities, Assessments, Charges, Etc................................................28 0.15 Access Privileges and Inspections..............................................................28 1.16 Waste; Alteration of Improvements..............................................................29 1.17 Zoning.........................................................................................29 1.18 Financial Statements and Books and Records.....................................................29 1.19
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Percentage Lease. (a) Grantor represents that the Percentage Lease is the only Lease affecting the Trust Property and that as of the date hereof the Percentage Lease has at least eight (8) years remaining on its term and is unmodified and in full force and effect, and to Grantor's best knowledge, no event of default has occurred and is continuing under the Percentage Lease. The Percentage Lease is and shall remain subordinate to the Deed of Trust (either by the terms of the Percentage Lease or pursuant to a subordination agreement). Either party to the Percentage Lease may terminate the Percentage Lease upon an Event of Default under the Loan Documents. Grantor shall cause the lessee under the Percentage Lease to comply with the terms and conditions of the Percentage Lease.
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Percentage Lease. Acquiror shall have entered into the Percentage Lease with respect to the Hotel, to be effective on the Closing Date.
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Percentage Lease. Many retail businesses have percentage leases , especially in shopping centers. The rent is based on a percentage of the gross or net income f rom the tenant’s business. Typically, the lease provides for a minimum rent plus a percentage of the tenant’s business income above the stated minimum.
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Percentage Lease. A variation of both Net and Gross leases. More commonly used for retail operations, a percentage lease requires the lessee to pay not only a base rental amount but also a percentage of their gross business income. Rent Increases: Other considerations are annual rental increases. Many leases have annual CPI (consumer price index) rent adjustments. These adjustments may have guaranteed minimum and maximum increases, or in some cases may be predetermined fixed rate increase. Options: Does the lease have an extension option? This is a clause that allows the lessee to extend the term of the lease at the expiration of the current term. Without this clause a lessor has no obligation to re-lease the premises to the current lessee and the lessee may be forced to vacate whether they want or not.
Sample 1
Percentage Lease. A type of lease where the tenant pays a base rent plus a percentage of any revenue earned while doing business on the rental premises. It is a term used in commercial real estate. Percentage lease agreements can often decrease the base rate while simultaneously providing the lessor with additional upside potential. A percentage lease is a lease where the rental is based on a percentage of the monthly or annual gross sales made on the premises, usually coupled with a base rent. This is a common lease type for retail stores operating in leased spaces, where the tenant pays a base rent regardless of profits/losses plus a percentage of revenue earned as a result of conducting business on the premises.
Sample 1
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Related to Percentage Lease

  • Percentage Rent In addition to the Base Rent, Lessee shall be: (check one) ☐ - Not required to make payments related to Lessee’s sales or revenue (“Percentage Rent”). ☐ - Required to pay __________________ percent (____%) of __________________ (gross sales, net sales, etc.). Such payment shall be made ☐ Monthly ☐ Quarterly ☐ Annually along with a receipt to show proof of percentage calculation (“Percentage Rent”). The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.”

  • Operating Lease The parties hereto intend that this Lease shall be deemed for all purposes to be an operating lease and not a capital lease.

  • Tenant’s Percentage Share The term "Tenant's Percentage Share" shall mean 46.67% and shall be used to calculate increases in Property Taxes and Operating Expenses (as such terms are hereinafter defined) payable by Tenant. Landlord may reasonably redetermine Tenant's Percentage Share from time to time to reflect reconfigurations, additions or modifications to the Building.

  • Excess Rent City shall receive fifty percent (50%) of all Excess Rent payable in connection with any Transfer. “Excess Rent” means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Rentable Area 6.1. The term “

  • Existing Lease Except to the extent specifically amended hereby, all terms and conditions of the Lease remain in full force and effect. [Signatures begin on next page.]

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • Triple Net Lease Landlord and Tenant acknowledge that, to the extent provided in this Lease, it is their intent and agreement that this Lease be a “TRIPLE NET” lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant’s operation therefrom to the extent provided in this Lease. To the extent such costs and expenses payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but reimbursed by Tenant as Additional Rent.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of Article 3 of the Lease.

  • Tenant’s Percentage The ratio of the Rentable Floor Area of the Premises to the total rentable area of the Building (130,706 rentable square feet), which shall initially be deemed to be 34.10%. ______________________________

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