Quarterly Installments. Installments of Additional Rent for each Lease Year or portion thereof shall be calculated and paid each Fiscal Quarter in arrears. Payment of each such installment shall be made within 45 days after the end of each Fiscal Quarter and shall be accompanied by an Officer's Certificate setting forth the calculation of Additional Rent due and payable for such Fiscal Quarter. The installment due with respect to each Fiscal Quarter shall be equal to the Additional Rent due on Excess Hotel Sales for all Fiscal Quarters elapsed during the applicable Fiscal Year less amounts previously paid with respect thereto by Tenant. Amounts due shall be determined by measuring Total Hotel Sales for all Fiscal Quarters elapsed against Base Total Hotel Sales for the equivalent period during the Base Year.
Appears in 4 contracts
Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust)
