Percentage Rentals Sample Clauses

Percentage Rentals. Percentage Rentals payable by Tenants under Tenant Leases shall be separately prorated as of the Adjustment Time between CBL/OP and Contributors in the manner provided in this Section 6.4.4. Such proration shall preliminarily be based on 105% of the Percentage Rentals received by Property Owner for the year period preceding the Adjustment Time (the "Projected Percentage Rentals"), with such amount being allocated in the following manner: Contributors shall be entitled to an amount equal to the product obtained by multiplying the Projected Percentage Rentals by a fraction, the numerator of which is the number of days between January 1, 2005 and the day preceding the Adjustment Time, and the denominator of which is 365, and CBL/OP shall be entitled to the balance of the Projected Percentage Rentals (the "Preliminary Percentage Rent Proration"). Subsequent to the Closing Date, the Preliminary Percentage Rent Proration shall be adjusted in the following manner: the proration of Percentage Rentals shall be made on a Tenant Lease-by-Tenant Lease basis and shall be based upon the fiscal year set forth in each applicable Tenant Lease for the determination of Percentage Rental. The actual fiscal year for Percentage Rental during which the Closing occurs is hereinafter referred to as the "Applicable Percentage Rental Fiscal Year." Upon the expiration of the Applicable Percentage Rental Fiscal Year, CBL/OP and Contributors shall prorate the total annual Percentage Rental due from a Tenant for such Tenant's Applicable Percentage Rental Fiscal Year as follows: (a) Contributors shall be entitled to the portion of the Percentage Rental paid by each Tenant equal to the product obtained by multiplying the total annual Percentage Rental paid by such Tenant by a fraction, the numerator of which fraction is the number of days in the Applicable Percentage Rental Fiscal Year preceding the Adjustment Time and the denominator of which is the total number of days in the Applicable Percentage Rental Fiscal Year; and (b) CBL/OP shall be entitled to the portion of the Percentage Rental paid by each Tenant equal to the product obtained by multiplying the total annual Percentage Rental paid by such Tenant by a fraction, the numerator of which fraction is the total number of days in the Applicable Percentage Rental Fiscal Year after the Adjustment Time and the denominator of which is the number of days in the Applicable Percentage Rental Fiscal Year. Any resulting adjustment shall be ef...
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Percentage Rentals. Section 9. The percentage rental shall be determined and payable annually on or before the twentieth day following the close of each full calendar year period of the term, based on gross sales for such period. The first payment of percentage rental due hereunder shall include a percentage of gross sales from the date of the commencement of the term to the first day of the first full calendar month in the term. As soon as practicable after the end of each rental year, the percentage rental paid or payable for such rental year shall be adjusted between Landlord and Tenant, each party hereby agreeing to make such adjustment and to pay to the other, on demand, such amount as may be necessary to effect adjustment to the agreed percentage rental.
Sample 1
Percentage Rentals. Percentage Rentals shall be separately prorated under each Lease on the basis of the fiscal year set forth in each Lease for the payment of Percentage Rentals. All interim Percentage Rental payments made before the Closing Date shall be retained by each Seller with respect to its Shopping Center until year-end adjustment and determination of each Seller’s allocable share thereof. All amounts received by Purchaser after the Closing Date as interim payments of Percentage Rentals shall be retained by Purchaser until year-
Sample 1
Percentage Rentals. All percentage and overage rentals under the Leases ("PERCENTAGE RENTALS") accruing for any lease year ending before the Closing shall be allocated entirely to Seller. With respect to Percentage Rentals accruing under the Leases for calendar year 1998, the total amount of Percentage Rentals which accrued for calendar year 1997 shall be the basis for prorations at the Closing, with Seller to receive a credit for an amount equal to
Sample 1
Percentage Rentals. All percentage and overage rentals (“Percentage Rentals”) under the Leases for any lease year ending before the Date of Closing which are due and unpaid shall be allocated entirely to Seller and adjusted against the Purchase Price at Closing. With respect to Percentage Rentals for the lease year in which the Date of Closing occurs, Seller shall receive as an adjustment to the Purchase Price an amount equal to the “Pre-Date of Closing Allocable Share”. The “Pre-Date of Closing Allocable Share” with respect to a Lease will be a fraction, (the numerator of which is the number of days in such lease year occurring up to but not including the Date of Closing and the denominator of which is the number of days in such lease year) multiplied by the Percentage Rentals paid for the immediately preceding lease year (or some other reasonable estimate). Within ninety (90) days after the Percentage Rentals payable by each Tenant for the entire lease year in which the Date of Closing occurs are finally determined in accordance with its Lease, Seller and Purchaser shall make such prorations adjustments and payments as may be required to ensure that Seller and Purchaser each have received the share of Percentage Rentals to which it is entitled pursuant to the foregoing provisions hereof. During such ninety (90) day period, Purchaser shall use its reasonable efforts to collect Percentage Rentals; provided, however, that in no event shall Purchaser be required terminate any Lease or litigate with any tenant.
Sample 1

Related to Percentage Rentals

  • Percentage Rent Any percentage rents due or paid under any of the Leases (“Percentage Rent”) shall be prorated between Buyer and Seller outside of Closing as of the Close of Escrow on a Lease-by-Lease basis, as follows; (a) Seller shall be entitled to receive the portion of the Percentage Rent under each Lease for the Lease Year in which Closing occurs, which portion shall be the ratio of the number of days of said Lease Year in which Seller was Landlord under the Lease to the total number of days in the Lease Year, and (b) Buyer shall receive the balance of Percentage Rent paid under each Lease for the Lease Year. As used herein, the term “Lease Year” means the twelve (12) month period as to which annual Percentage Rent is owed under each Lease. Upon receipt by either Buyer or Seller of any gross sales reports (“Gross Sales Reports”) and any full or partial payment of Percentage Rent from any tenant of the Property, the party receiving the same shall provide to the other party a copy of the Gross Sales Report and a check for the other party’s prorata share of the Percentage Rent within five (5) days of the receipt thereof. In the event that the Tenant only remits a partial payment, then the amount to be remitted to the other party shall be its prorata share of the partial payment. Nothing contained herein shall be deemed or construed to require either Buyer to Seller to pay to the other party its prorata share of the Percentage Rent prior to receiving the Percentage Rent from the Tenant, and the acceptance or negotiation of any check for Percentage Rent by either party shall not be deemed a waiver of that party’s right to contest the accuracy or amount of the Percentage Rent paid by the Tenant.

  • Minimum Rental Beginning with the Commencement Date and continuing through the Expiration Date or earlier termination of this Lease, Tenant shall pay Minimum Rental in accordance with the schedule set forth in Section 1(g) in equal monthly installments each in advance on or before the first day of each month. If the Commencement Date is a date other than the first day of a calendar month, the Minimum Rental shall be prorated daily from such date to the first day of the next calendar month and paid on or before the Commencement Date.

  • Monthly Base Rent On each Due Date, each Lessee shall pay to the Lessor the Monthly Base Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;

  • Fixed Rent Tenant agrees to pay to Landlord, on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1/12th) of the Annual Fixed Rent specified in Section 1.1 hereof. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to or for the order of Boston Properties Limited Partnership, as agent of Landlord. All remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, as agent as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Rent Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Rent Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Monthly Rent The rent payable pursuant to Paragraph 5.A., as adjusted from time to time pursuant to the terms of this Lease.

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Additional Rent In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Operating Expenses During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

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