Taking Rent Credit Sample Clauses

Taking Rent Credit. Pending the completion of the audit, and thereafter only to the extent the audit determines that Tenant is entitled to the Minimum Income Credit, Tenant shall be entitled to take the Minimum Income Credit against any additional Percentage Rent due at the time that Tenant submits the Annual Reconciliation required by Section 4.2. In the event that application of the Minimum Income Credit results in Tenant’s payment of Percentage Rent for a calendar year in excess of the amount Percentage Rent due for such calendar year, the Port shall, if Tenant is not otherwise in default in any material respect under the terms of this Agreement, credit such excess to the payment of any Percentage Rent which may thereafter become due to the Port; provided, however, upon expiration or sooner termination of the Agreement, if Tenant has otherwise complied in all material respects with all other terms and conditions of this Agreement, the Port shall refund such excess to Tenant.
Sample 1
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Taking Rent Credit. Pending the completion of the audit, and thereafter only to the extent the audit determines that Tenant is entitled to the Minimum Income Credit, Tenant shall be entitled to take the Minimum Income Credit against any additional Percentage Rent due at the time that Tenant submits the Annual Reconciliation required by Section 4.2. In the event that application of the Minimum Income Credit results in Tenant’s having paid Percentage Rent for a calendar year in excess of the amount Percentage Rent due for such calendar year, the Port shall, if Tenant is not otherwise in default in any material respect under the terms of this Amended and Restated Agreement, credit such excess to the payment of any Percentage Rent which may thereafter become due to the Port; provided, however, upon expiration or sooner termination of this Amended and Restated Agreement, if Tenant has otherwise complied in all material respects with all other terms and conditions of this Amended and Restated Agreement, the Port shall refund such excess to Tenant.
Sample 1

Related to Taking Rent Credit

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • RENT CONSIDERATION 5.1 - Rent consideration installment payments shall be made during the month for which the installment applies.

  • RENTAL DURATION 3.1 Rental days are calculated on a calendar day basis. When calculating the number of days the Vehicle is rented, the day of pick-up is counted as day one of the rental, regardless of pick-up time. The day of the Vehicle’s return is counted as the final day of the rental regardless of drop-off time.

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, ("Code")), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers ("Effective Rate") is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • MONTH'S RENT The Tenant is required to pay the first (1st) month's rent: (check one) ☐ - Upon the execution of this Agreement. ☐ - Upon the first (1st) day of the Lease Term.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

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