Rent Deferral. (a) Subject to the provisions of this Amendment, $1,126,534.80 of the Minimum Rent due under the Lease (the “Deferred Rent”) shall be deferred (the “Rent Deferral”). The Deferred Rent shall be applied in three (3) increments as follows:
Rent Deferral. The following shall be added as a new Article 34 of the Lease:
Rent Deferral. Owner and Resident agree to a deferral of the payment of rent for the month of April 2020 as stated in this agreement. It is acknowledged and agreed that rent is still owed. Provided the terms of this agreement as fully complied with, Owner will waive late fees for the deferred payment. The intent of this Deferral is to provide temporary assistance to Resident due to the direct economic impact of the COVID-19 virus. In the event the Pandemic and its effects for Resident continue into the month of May 2020, Resident may apply for additional deferral and modification of this Agreement. Nothing herein shall require Owner to allow for continued deferral of rent.
Rent Deferral. Notwithstanding anything contained in Section 2.1 of the Lease Agreement to the contrary, during the period of time between December 1, 1999 and May 31, 2000 the Monthly Base Rent payable by Tenant to Landlord shall be reduced from $36,666.66 per month to $21,666.66 per month and during the period of time between June 1, 2000 through November 30, 2000, the Monthly Base Rent payable by Tenant to Landlord shall be increased to $51,666.66 per month. Subsequent to November 30, 2000, the Monthly Basic Rent shall be payable in accordance with the terms and provisions of Section 2.1 of the Lease Agreement.
Rent Deferral. Notwithstanding the provisions of paragraph (a) above, provided that no Event of Default then exists, Xxxxxx’s obligation to pay Basic Rent hereunder shall be deferred until the earlier to occur of (i) the date of the Public Listing, and (ii) the date that is after the Commencement Date of the Lease (the “Rent Deferral Period”). Upon the expiration of the Rent Deferral Period, (i) payments of the full amount of the Basic Rent due under the Lease shall commence, and (ii) in addition thereto, the amount of Basic Rent deferred pursuant to the foregoing provision shall be repaid in equal monthly installments over the next succeeding twelve (12) months on each of the applicable Basic Rent Payment Dates.
Rent Deferral. In consideration of the costs incurred by Concessionaire for the construction of the Improvements for the Redevelopment Work, County grants Concessionaire the right to defer some or all the Annual Percentage Rent payable by Concessionaire under this Contract in an aggregate amount equal to the Required Cost Amount (as defined in Section 5.1 below) in accordance with the terms and provisions of this Subsection 4.2.2.3 (the “Rent Deferral Amount”). Commencing with the first month following the Construction Period and continuing each month thereafter until the Rent Deferral Amount is fully applied (the “Rent Deferral Period”), Concessionaire shall have the right to reduce the Percentage Rent payable for such month in an amount equal to the amount by which the Percentage Rent that would otherwise be payable for such month exceeds the Monthly Minimum Rent payable for such month. The Monthly Minimum Rent shall not be affected. Concessionaire shall include with each monthly Gross Receipts report required to be delivered by Concessionaire pursuant to the first paragraph of Subsection 4.2.2 above, an accounting of all cumulative reductions in Percentage Rent applied to date under this Subsection 4.2.2.3 and the amount of any remaining unapplied Rent Reduction Amount.
Rent Deferral. Landlord shall defer % of the Minimum Rent payment due by Tenant on April 1, 2020 and May 1, 2020 in the total amount of $ (“Deferred Rent”). In addition to the regular payment of Minimum Rent due under the Lease, Tenant shall pay the Deferred Rent in six (6) consecutive equal monthly installments of $ (“Monthly Deferred Rent”) each to Landlord on December 1, 2020, January 1, 2021, February 1, 2021, March 1, 2021, April 1, 2021, and May 1, 2021.
Rent Deferral. The parties agree to waive the "Rent Deferral" as described in Paragraph C. of the Recycle Agreement.
Rent Deferral. To the extent that Cash Available for Lease Payments for an Accounting Period is insufficient to pay Rent, any and all unpaid Rent shall accrue and will be payable from subsequent Accounting Period’s Cash Available for Lease Payments. Nothing herein shall be construed to impair Landlord’s right to exercise its right under this Lease, including, but not limited to, Landlord’s right to utilize the Excess Cash Flow Reserves, Pledge Agreement, or Collateral Assignment of Revenues to satisfy any unpaid Rent.
Rent Deferral. (a) Notwithstanding anything to the contrary in the Lease, Tenant shall not be required to pay Fixed Rent in respect of the 27th Floor, equal to $3,427,047.00 per annum ($285,587.25 per month), that would otherwise be due and payable by Tenant in accordance with the Lease during the period (the “Deferral Period”) commencing on October 1, 2020, and ending on September 30, 2023 (the aggregate Rent that Tenant is not required to pay during the Deferral Period is called the “Deferred Rent”). Except for the Deferred Rent, Tenant shall continue to pay to Landlord 100% of the Fixed Rent for the 29th, 30th and 31st floors (for the 31st Floor or portion thereof, if and when due pursuant to the Lease), and 100% of the Operating Payments, Tax Payments and all other Additional Rent due and payable for the Premises in accordance with the Lease during the Deferral Period (the “Deferral Period Rent”). Tenant hereby (i) acknowledges that Landlord’s deferral of the Deferred Rent in accordance with this Section 2(a) is in full satisfaction of any and all claims that Tenant might otherwise have under the Lease, at law or in equity, to any reduction, offset or abatement of Rent under the Lease with respect to the periods prior to the date of this Amendment (“Rent Abatement Claims”), (ii) fully releases Landlord from any Rent Abatement Claims and (iii) waives the right to assert any Rent Abatement Claims against Landlord.
