Common use of Schedule of Minimum Payments Clause in Contracts

Schedule of Minimum Payments. The Lessee shall pay to the Lessor minimum payments, which shall be advance payments of the Royalty, of US$5000.00 (five thousand dollars) upon execution of this lease. The Lessee may extend this lease upon payment of the following: 1. Pay Lessor US$10,000.00 on or before the first anniversary of the execution of this lease. 2. Pay Lessor US$15,000.00 on or before the second anniversary of the execution of this lease. 3. Pay Lessor US$20,000.00 on or before the third anniversary of the execution of this lease. 4. Pay Lessor US$25, 000.00 on or before the fourth anniversary of the execution of this lease. 5. Each annual payment thereafter shall be US$50,000.00 plus an annual increase or decrease equivalent to the rate of inflation designated by the Consumer's Price Index (CPI) for that year with execution year as base year. Each such payment shall be made on or before the successive anniversary of the execution of this lease.

Schedule of Minimum Payments. The Lessee shall pay Lessor US$5,000 upon execution of this lease. The Lessee shall pay to the Lessor minimum payments, payments which shall be advance payments of the Royalty, of US$5000.00 (five thousand dollars) upon execution beginning on the first anniversary of this lease. The Lessee shall be responsible for all federal, state and local taxes as they come due during the term of this Agreement. Lessee may extend this lease upon payment and grant of the following: 1. a. Pay Lessor US$10,000.00 5,000 on or before the first anniversary of this lease. b. Pay Lessor US$10,000 on or before the execution second and third anniversaries of this lease. 2. c. Pay Lessor US$15,000.00 on or before the second anniversary of the execution of this lease. 3. Pay Lessor US$20,000.00 on or before the third anniversary of the execution of this lease. 4. Pay Lessor US$25, 000.00 25,000 on or before the fourth anniversary of the execution of this lease. 5. d. Each annual payment thereafter to Lessor shall be US$50,000.00 75,000 plus an annual increase or decrease equivalent to the rate of inflation designated by the Consumer's ’s Price Index (CPI) for that year with execution year as base year. Each such payment shall be made on or before the successive anniversary of the execution of this lease.

Schedule of Minimum Payments. The Lessee shall pay to the Lessor minimum payments, which shall be advance payments of the Royalty, of US$5000.00 (five thousand dollars) upon execution of this lease. The Lessee may extend this lease upon payment of the following: 1. Pay Lessor US$10,000.00 8,000.00 on or before the first anniversary of the execution of this lease. 2. Pay Lessor US$15,000.00 16,000.00 on or before the second anniversary of the execution of this lease. 3. Pay Lessor US$20,000.00 24,000.00 on or before the third anniversary of the execution of this lease. 4. Pay Lessor US$2550, 000.00 on or before the fourth anniversary of the execution of this lease. 5. Each annual payment thereafter shall be US$50,000.00 plus an annual increase or decrease equivalent to the rate of inflation designated by the Consumer's Price Index (CPI) for that year with execution year as base year. Each such payment shall be made on or before the successive anniversary of the execution of this lease.