Rent Modification Sample Clauses

Rent Modification. Landlord, with input from the Executive Officers of the Beta-Chi Chapter of Kappa Sigma, shall determine Tenant’s annual rent for each school year subsequent to the one in which this lease was signed during the spring semester or summer immediately preceding each school year. The annual rent specified in Paragraph 2 above is subject to modification (either increase or decrease) each school year (other than the year in which the lease is originally executed) by Landlord at Landlord’s sole discretion. Landlord may not increase the annual rent pursuant to this lease more than 6% in any successive year. Landlord shall promptly notify Tenant in the event that the rent owed pursuant to this lease is modified.
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Rent Modification. Notwithstanding anything to the contrary in the Sublease, Section 7.1 shall be deleted in its entirety and shall be replaced with the following:
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Rent Modification. Notwithstanding anything to the Contrary in the Lease, Section 4.1(b) of the Lease shall be deleted in its entirety and replaced with the following:
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Rent Modification. Section 1.13 of the Lease sets forth the ----------------- Minimum Guaranteed Rental Rate. The Minimum Guaranteed Rental Rate for the Lease Term is revised as follows: Year 1: $299,584.00 Annual Rent Year 2: $334,998.40 Annual Rent Year 3: $340,454.40 Annual Rent Year 4: $345,910.40 Annual Rent Year 5: $351,366.40 Annual Rent Year 6: $356,822.40 Annual Rent Year 7: $362,278.40 Annual Rent Year 8: $367,734.40 Annual Rent Year 9: $373,190.40 Annual Rent Year 10: $378,646.40 Annual Rent Additionally, Section 4.1 of the Lease is hereby deleted and substituted with the following text: The Minimum Guaranteed Rental Rate set forth in Section 1.13 shall be payable in equal monthly installments in advance on the first day of each full calendar month during the Lease Term without any setoff, deduction or prior demand whatsoever. If Tenant fails to pay any rental monthly installment within ten (10) days after said installment Is due, Tenant shall be obligated to pay a late payment charge equal to ten percent (10%) of said monthly rental installment. In addition, any monthly rental installment which is not paid within ten (10) days after the same is due shall bear interest at the rate of twelve percent (12%) from the first day due until paid. Not withstanding the preceding, the monthly rental installments due from July, 1999 through December, 2000, inclusive, shall be $22,771.91. Said monthly rental installment is equal to the $74,896.00 balance owed to Landlord for calendar year 1999 rent plus the amount owed for calendar year 2000 Annual Rent divided by eighteen.
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Rent Modification. Lessor and Lessee agree to amend Section 3.1 of the Lease, effective as of July 1, 2011, by deleting “US$10,000” and inserting in lieu thereof “US$12,500”.
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Rent Modification. Notwithstanding anything to the Contrary in the Lease, as of the Premises Reduction Date, Article 9 of the Original Lease shall be deemed deleted in its entirety, and Section 4.1 of the Original Lease (as amended by Section 1(c)(i) of the Second Amendment) shall be deemed deleted and replaced with the following: (a) During the period commencing on the Premises Reduction Date and continuing thereafter until the Expiration Date, Lessee shall pay Lessor annual base rent of Four Million Seven Hundred Ninety-One Thousand Nine Hundred Sixty-Seven and 31/100 Dollars ($4,791,967.31), adjusted in the manner provided in Section 4.1(b) and (c) below (“Annual Base Rent”). Lessee shall pay Annual Base Rent in advance in equal monthly installments commencing on the Premises Reduction Date (representing initial monthly payments of $399,330.61); provided, however, that Annual Base Rent for any partial month during the period between the Premises Reduction Date and the Expiration Date shall be prorated on the basis of a thirty (30) day month. (b) Notwithstanding anything to the contrary set forth herein: (1) Lessor acknowledges that Lessee has prepaid all Annual Base Rent owing for the period from October 1, 2002 through December 31, 2003 and Lessee shall have no further obligation for Annual Base Rent due hereunder for such period. (2) During the period from January 1, 2004 through June 30, 2004, Lessee shall only be obligated to pay on a current basis one-half of the monthly Annual Base Rent specified pursuant to Section 4.1(a) above (representing a monthly payment of $199,665.30, subject to adjustment in the manner provided in Section 4.1(c) below), and during the period from July 1, 2004 through December 31, 2004 Lessee shall only be obligated to pay on a current basis three-quarters of the monthly Annual Base Rent specified pursuant to Section 4.1(a) above (representing a monthly payment of $299,497.96, subject to adjustment in the manner provided in Section 4.1(c) below). Any portion of the Annual Base Rent that is not paid on a current basis pursuant to the provisions of this Section 2.(b)(2) shall be deferred, shall be referred to herein as “Deferred Annual Base Rent” and shall be paid as provided in Sections 2.(b)(3) and (4) below. (3) For each quarter of 2004 (e.g. January-March (“Q1”), April-June (“Q2”), July-September (“Q3”) and October-December (“Q4”)), Lessee shall pay to Lessor within thirty (30) days after the end of such quarter an additional sum (the “Cas...
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Related to Rent Modification

  • Amendment; Modification No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties.

  • CONTRACT MODIFICATION The following is adopted as the new CTC for the Contract effective December 29, 2022:

  • Agreement Modification 15.1 Any agreement to change the terms of this Agreement in any way shall be valid only if the change is made in writing and approved by mutual agreement of authorized representatives of the parties hereto.

  • Cost Modifications The parties may agree to a reduction in the cost of the Contract at any time during which the Contract is in effect. Without intending to impose a limitation on the nature of the reduction, the reduction may be to hourly, staffing or unit costs, the total cost of the Contract or the reduction may take such other form as the State deems to be necessary or appropriate.

  • Waiver; Modification Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

  • Amendment; Modification; Waiver This Agreement shall not be amended, nor shall any provision of this Agreement be considered modified or waived, unless evidenced by a writing signed by the parties hereto, and in compliance with applicable provisions of the Investment Company Act.

  • Agreement Modifications No waiver, alteration or modification of any of the provisions of this Construction Services Agreement shall be binding upon either District or Contractor unless the same shall be in writing and signed by both District and Contractor.

  • Contract Modifications It is understood that changes are inherent in operations of the type covered by this contract. The number of changes, the scope of those changes, and the impact they have on the progress of the original operations cannot be defined at this time. The PURCHASER is notified that changes are anticipated and that there will be no compensation made to the PURCHASER directly related to the number of changes made. Each change will be evaluated for extension of contract time and increase or decrease in compensation based on its own merit. STATE reserves the right to make, at any time during the contract, such modifications as are necessary or desirable; provided such modifications shall not change the character of the operations to be done nor increase the cost, unless such operations or cost increase is approved in writing by PURCHASER. Any modifications so made shall not invalidate this contract nor release PURCHASER of obligations under the performance bond. PURCHASER agrees to do the modified operations as if it had been a part of the original contract. If any change under this section causes an increase or decrease in the PURCHASER's cost of, or the time required for the performance of any part of the operations, the PURCHASER must submit a written statement setting forth the nature and specific extent of the claim. Such claim shall include all time and cost impacts against the contract and be submitted as soon as possible, but no later than 30 days after receipt of any written notice of modification of the contract. If the PURCHASER discovers site conditions which differ materially from what was represented in the contract or from conditions that would normally be expected to exist and be inherent to the activities defined in the contract, the PURCHASER shall notify the STATE's Authorized Representative immediately and before the area has been disturbed. The STATE's Authorized Representative will investigate the area and make a determination as to whether or not the conditions differ materially from either the conditions stated in the contract or those which could reasonably be expected in execution of this particular contract. If it is determined that a differing site condition exists, any compensation or credit will be determined based on an analysis by STATE's Authorized Representative. If the PURCHASER does not concur with the decision of the STATE's Authorized Representative and/or believes that it is entitled to additional compensation, the PURCHASER may proceed to file a claim. All claims shall be submitted in writing and shall include a detailed, factual statement of the basis of the claim, pertinent dates, contract provisions which support or allow the claim, reference to or copies of any documents which support the claim, the exact dollar value of the claim, and specific time extension requested for the claim. If the claim involves operations to be completed by subcontractors, the PURCHASER will analyze and evaluate the merits of the subcontractor's claim. PURCHASER shall forward the subcontractor's claim and PURCHASER's evaluation of such claim to STATE's Authorized Representative. The STATE's Authorized Representative will not consider direct claims from subcontractors, suppliers, manufacturers, or others not a party to this contract. The decision of the STATE shall be final and binding unless the PURCHASER requests mediation.

  • Waiver and Modification Any waiver, alteration, or modification of any of the provisions of this Agreement shall be valid only if made in writing and signed by the parties hereto. Each party hereto, may waive any of its rights hereunder without affecting a waiver with respect to any subsequent occurrences or transactions hereof.

  • Waiver, Modification, Etc No provision or term of this Amendment may be modified, altered, waived, discharged or terminated orally, but only by an instrument in writing executed by the party against whom such modification, alteration, waiver, discharge or termination is sought to be enforced.

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