Common use of Rent Modification Clause in Contracts

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.

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) semester 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. The Additional Costs may increase or decrease each semester at Landlord’s sole discretion. Landlord shall promptly notify Tenant in the event that the rent owed pursuant to this lease is modified.

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) semester 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.