Rent Differential. Each installment of Basic Rent shall be increased or decreased, as the case may be, by the Rent Differential (as hereinafter defined), if any. The term “Rent Differential” shall mean, as of any Basic Rent Payment Date with respect to the applicable Rental Period, an amount equal to the difference between (i) the aggregate amount of interest actually accrued on all Outstanding Notes during such Rental Period and (ii) the aggregate amount of interest that would have accrued on such Notes if such Notes had at all times during the Rental Period borne interest at the interest rate assumed in the Pricing Assumptions then in effect. As of any Basic Rent Payment Date, (x) if the amount determined in accordance with clause (i), above, is greater than the amount determined in accordance with clause (ii) above, the amount of Basic Rent due on such date shall be increased by the Rent Differential, and (y) if the amount determined in accordance with clause (ii) exceeds the amount determined in accordance with clause (i), the amount of Basic Rent due on such date shall be decreased by the Rent Differential.
Rent Differential. If, on any Rent Payment Date, any amount of Additional Lessor Note Interest shall be due and payable under the Series 1997 Refunding Lessor Note, the installment of Basic Rent on such Rent Payment Date shall be increased by the amount of such Additional Lessor Note Interest. The amount of additional Basic Rent payable under this Section 3.3 shall be the "Rent Differential."
Rent Differential. Prior to the Refunding Date, each installment (if any) of Basic Rent shall be increased or decreased, as the case may be, by the Rent Differential. For purposes hereof, Rent Differential shall mean, as of any Basic Rent Payment Date, the difference between (i) the aggregate amount of interest due and payable on such Basic Rent Payment Date on the Notes then Outstanding, and (ii) the aggregate amount of interest that would have been due and payable on such Basic Rent Payment Date on such Notes if such Notes had at all times during the relevant period borne interest at a rate equal to 10.5% per annum (computed on the basis of a 36O-day year of twelve 30-day months). If, as of any Basic Rent Payment Date, (A) the amount determined in accordance with clause (y) of the immediately preceding sentence shall be greater than the amount determined in accordance with clause (ii) of such Sentence, the amount of Basic Rent due on such Basic Rent Payment Date shall be increased by the Rent Differential, and (B) the amount determined in accordance with such clause (ii) shall exceed the amount determined in accordance with such clause (i), the amount of Basic Rent due on such Basic Rent Payment Date shall be decreased by the Rent Differential.
Rent Differential. The installment of Basic Rent due January 15, 1987 shall be increased or decreased, as the case may be, by the Rent Differential. For purposes hereof, Rent Differential shall mean the difference between (i) the aggregate amount of interest paid or payable on the Initial Series Notes on or before November 25, 1986 and (ii) the aggregate amount of interest that would have been paid on such Initial Series Notes if such Notes had at all times from the date of issuance thereof to November 25, 1986 borne interest at a rate equal to 9.9024175% per annum (computed on the basis of a 360-day year of twelve 30-day months). If (A) the amount determined in accordance with clause (i) of the immediately preceding sentence shall be greater than the amount determined in accordance with clause (ii) of such sentence, the amount of Basic Rent due on January 15, 1987 shall be increased by the Rent Differential, and (B) the amount determined in accordance with such clause (ii) shall exceed the amount determined in accordance with such clause (i), the amount of Basic Rent due on January 15, 1987 shall be decreased by the Rent Differential."
Rent Differential. If the monthly Base Rent payable under the ----------------- assignment or sublease agreement is more than the Base Rent being paid by Tenant to Landlord, Tenant shall pay to Landlord fifty percent (50%) of the difference between the Base Rent payable under said assignment or sublease and the Base Rent then being paid under this Lease. Customary brokerage fees, attorney's fees, tenant improvement costs (as reasonably approved by Landlord) and any reasonable direct expenses paid by Tenant in preparing the space for the proposed assignee or sublessee, may be deducted from Base Rent before calculation of the Landlord's share of the rent differential.
Rent Differential. So long as the Initial Series Note shall be outstanding, each installment of Basic Rent shall be increased or decreased, as the case may be, by the Rent Differential. For purposes hereof,
Rent Differential. Commencing upon the Third Party Lease Date and ending upon the expiration of the term of the Amended Lease, Tenant shall pay to Landlord a Rent Differential, as defined below, monthly with Tenant's Minimum Monthly Rent payment, as reduced pursuant to Section 8(a) above. The "Rent Differential" shall be an amount equal to the Minimum Monthly Rent payable under Section 7 above with respect to the Third Floor Premises minus the minimum monthly rent paid by the tenant under the Third Party Lease ("Rent Differential"). In no event will Landlord be obligated to pay to Tenant any amount of negative Rent Differential, nor shall any negative amount carry over into a subsequent month. A Third Floor Furniture Amount (as defined below) shall credited against the Rent Differential as it accrues until the Third Floor Furniture Amount is reduced to zero (0). For the purposes of this paragraph, the "Third Floor Furniture Amount" shall be the value of the Third Floor Furniture, as reasonably agreed upon by Landlord and Tenant on or before the Third Party Lease Date. Notwithstanding the foregoing, Tenant's obligation to pay the Rent Differential shall terminate upon the date which is twenty-four (24) months after the Effective Date if Tenant is not Profitable, as defined below, for at least two (2) of the four (4) fiscal quarters immediately preceding the date which is twenty-four (24) months after the Effective Date. Additionally, even if Tenant does not satisfy the criteria in the immediately preceding sentence, if the expiration date of the Third Party Lease occurs within the last twelve (12) months of the term of the Amended Lease, then Tenant's obligation to pay the Rent Differential shall terminate upon the expiration of the earlier to expire of the Third Party Lease or the Amended Lease, excluding any extension pursuant to Section 13 of this Amendment.
Rent Differential. On the date hereof, Tenant shall pay in full to Landlord $51,803.30, representing the rent difference between Tenant's Lease obligations owed by Tenant to Landlord for the Released Premises and the rental rate of the Third Party Lease (the "Rent Differential Payment"), as set forth below (subject to Final Calculation): ANNUAL RATE MONTHLY RATE RENT APPLICABLE DATES SQ. FT. DIFFERENCE DIFFERENCE DIFFERENCE ---------------- ------- ----------- ------------ ---------- April 1, 2005 - January 31, 2006 20,315 $0.85 $1,438.98 $14,389.80 February 1, 2006 - March 31, 2006 20,315 $2.45 $4,147.65 $ 8,295.30 April 1, 2006 - January 31, 2007 20,315 $1.72 $2,911.82 $29,118.20 ---------- TOTAL $51,803.30 ==========
Rent Differential. All Rent Differentials paid to WDTC in the reporting period, along with the TOT due to the City thereon.
