Common use of Site Lease Payments Clause in Contracts

Site Lease Payments. As indicated in the Site Lease, Contractor shall pay One Dollar ($1.00) per year, prepaid for the duration of the Site Lease and the Facilities Lease for the parties’ administrative convenience, to the District upon execution of this Master Site Lease, but before payment of the first Tenant Improvement. For illustrative purposes only, if the Site Lease is for 3.25 years (which is 39 months) and the Facilities Lease is for one year (which is 12 months), then the prepaid rent is Five Dollars ($5.00). The District will notify the Contractor to prepay rent at the time the District issues the Notice to Proceed.

Site Lease Payments. As indicated in the Site Lease, Contractor shall pay One Dollar ($1.00) per year, prepaid for the duration of the Site Lease and the Facilities Lease for the parties’ administrative convenience, to the District upon execution of this Master Site Lease, but before payment of the first Tenant Improvement. For illustrative purposes only, if the Site Lease is for 3.25 years (which is 39 months) and the Facilities Lease is for one year (which is 12 months), then the prepaid rent is Five Dollars ($5.00). The District will notify the Contractor to prepay rent at the time the District issues the Notice of Award or Notice to Proceed. The District will cooperate with Contractor’s reasonable request to provide documentation to facilitate the payment of Site Lease Payment(s).