PERIODIC RENT ADJUSTMENT Sample Clauses

PERIODIC RENT ADJUSTMENT. The annual rental to be paid by Lessee, as set forth in Paragraph 3 above, shall be adjusted at the end of the sixth (6th) full calendar year of the Term, at the end of the eleventh (11th) full calendar year of the Term and, thereafter, at the end of each successive five (5)-year period during the Term. The rent adjustment shall be made to reflect the prevailing rental rate at the time of each adjustment for land of like kind and quality with a comparable water supply and comparable improvements, located in Monterey County, California; provided, that no consideration shall be given to the value of improvements made by Lessee upon the Premises; provided further, that if at the time of a particular adjustment the Premises are planted to vineyard, the lands to be used for comparison purposes shall consist solely of Monterey County vineyards ("Comparable Vineyards"), but only (i) those Comparable Vineyards which have had a rent adjustment within the previous three (3) years, and (ii) there shall be excluded from the rental rates of such Comparable Vineyards any rental paid for the value of the vineyards thereon and the value of any improvements thereon comparable to the improvements made by Lessee upon the Premises. Lessor and Lessee acknowledge and agree that rental rates on comparable properties may include amounts being paid in consideration of obligations and liabilities other than the rental of such property (for example, the performance of services, contracts and other agreements or the payment of fees, costs or other expenses), and consideration paid for such other liabilities and obligations shall not be taken into account in the determination of the prevailing rental rates.
Sample 1
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PERIODIC RENT ADJUSTMENT. The rent specified in Section 6 (Rent) shall be subject to automatic annual adjustments in proportion to changes in the Consumer Price Index for Los Angeles-Riverside-Orange County, CA [All Urban Consumers-All Items, Not Seasonally adjusted (Base Period 1982-84=100)] promulgated by the Bureau of Labor Statistics of the U.S. Department of Labor (“CPI”). The automatic adjustment shall be effective on each anniversary of the Effective Date of this Lease (if the Effective Date of this Lease falls on a day other than the first day of the month, the automatic adjustment shall be effective on the first day of the month following the anniversary of the Effective Date of this Lease) and shall be calculated by means of the following formula, rounded up to the nearest dollar. A = $1,500 x B A = Adjusted Rent B = CPI for the month prior to the month in which each rental rate adjustment is to become effective C = CPI for the month in which the lease becomes effective Notwithstanding the foregoing, in no event shall the rent be reduced by reason of any such adjustment. In the event that the CPI is not issued or published for the period for which such rent is to be adjusted and computed hereunder, or in the event that the Bureau of Labor Statistics of the U.S. Department of Labor should cease to publish said CPI figures, then any similar index published by any other branch or department of the U.S. Government shall be used and if none is so published, then another index generally recognized and authoritative shall be substituted by Director.
Sample 1
PERIODIC RENT ADJUSTMENT. The annual rental to be paid by Lessee, as set forth in Paragraph 3 above, shall be adjusted at the end of the fifth (5th) year of the lease term and at the end of each successive five-year period during said term. The rent adjustment shall be made to reflect the prevailing rental rate at the time of each adjustment for land of like kind and quality with a comparable water supply and comparable improvements, located in Monterey County, California; provided, that no consideration shall be given to the value of improvements made by Lessee upon the Premises; provided further, that if at the time of a particular adjustment the Premises are planted to vineyard, the lands to be used for comparison purposes shall consist solely of Monterey County vineyards, but only those vineyards which have had a rent adjustment within the previous three (3) years.
Sample 1

Related to PERIODIC RENT ADJUSTMENT

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, ("Code")), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers ("Effective Rate") is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • Rental Adjustment The lesser of (i) 2.00%, or (ii) 1.25 times the change in the Price Index, as described in Section 4.02.

  • Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, a monthly installment of $3,284.00. Lessee shall also pay, as additional rent, all such other sums of money as shall become due from and payable by Lessee to Lessor under this Lease (Base Rental, any adjustment thereto pursuant to Section 4 hereof, and all such other sums of money due from and payable by Lessee pursuant to this Lease are sometimes hereinafter collectively called "rent"), for the nonpayment of which Lessor shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rental. The Base Rental, together with any adjustment or increase thereto then in effect, shall be due and payable in advance in twelve (12) equal installments on the first (lst) day of each calendar month during the term of this Lease, and Lessee hereby agrees so to pay such Base Rental and any adjustment or increase thereto to Lessor at Lessor's address provided herein (or such other address as may be designated by Lessor in writing from time to time) monthly, in advance, and without demand. If the term of this Lease commences on a day other than the first (lst) day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated, and the installment or installments so prorated shall be paid in advance.

  • Subsequent Adjustments In the event that the Assuming Institution or the Receiver discovers any errors or omissions as contemplated by Section 8.2 or any error with respect to the payment made under Section 8.3 after the Settlement Date, the Assuming Institution and the Receiver agree to promptly correct any such errors or omissions, make any payments and effect any transfers or assumptions as may be necessary to reflect any such correction plus interest as provided in Section 8.4.

  • Rental Adjustments 6.1 The Basic Annual Rent then in effect (and as previously increased pursuant to this Section 6.1) shall be increased each year by three percent (3%) on each annual anniversary of the Term Commencement Date for so long as this Lease continues in effect.

  • 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.

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5, which amount shall be subject to increase as provided in Sections 1.5 and 4.3. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, Tenant shall pay the first month’s Minimum Monthly Rent to Landlord.

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