Value Appreciation Rent Sample Clauses

Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to District Value Appreciation Rent as described herein. For a Tenant Ownership Change, the Value Appreciation Rent shall be the greater of (a) the lesser of (i) the Net Transfer Proceeds or (ii) four percent (4%) of the Gross Transfer Proceeds, or (b) fourteen percent (14%) of Net Transfer Proceeds. For a Financing Event, Tenant shall pay District fourteen percent (14%) of the Net Refinancing Proceeds as Value Appreciation Rent. Before any Tenant Ownership Change or Financing Event for which Value Appreciation Rent may be due, Tenant shall provide District with its detailed calculation of the Value Appreciation Rent. No Tenant Ownership Change or Financing Event shall occur until agreement is reached on the calculation of Value Appreciation Rent; provided, however, that such Tenant Ownership Change or Financing Event shall be permitted to occur without such agreement as long as District and Tenant make mutually acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Interest Rate that might be due to District over and above that reflected in the Tenant’s calculation should any such dispute be resolved in favor of District (but such interest shall be charged only on that portion of Value Appreciation Rent in excess of the amount determined by Tenant). Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.
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Value Appreciation Rent. (1) In the event of a Lessee Sale (defined below in this Subsection H), Lessee shall pay to District, Value Appreciation Rent as described herein. Value Appreciation Rent shall be payable as follows: If and only if a Lessee Sale occurs before the expiration of the term of the initial Sublease (and before the commencement date of an extension to that Sublease or before the commencement date of any replacement Sublease) (the "VAR Period"), then Lessee shall pay to District an amount equal to ten percent (10%) of the Net Transfer Proceeds (defined below) from such Lessee Sale. Before the closing on any Lessee Sale and not later than sixty (60) days prior to the anticipated effective date of any Lessee Sale for which Value Appreciation Rent may be due, Lessee shall provide District with its detailed calculation of the Value Appreciation Rent, if applicable. Such Lessee Sale shall be permitted to occur without agreement as to the proper calculation of Value Appreciation Rent as long Lessee makes reasonably acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Default Rate that District claims is due it over and above that reflected in Xxxxxx’s calculation should any such dispute be resolved in favor of District. Value Appreciation Rent shall be due and payable by Lessee to District within ten (10) business days after the effective date of the Lessee Sale giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, within ten (10) business days following resolution of the dispute). The time periods in this Section shall be separately calculated for each Related Lease. (2) As used in this subsection, the following terms shall have the following meanings:
Sample 1
Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to County Value Appreciation Rent as described herein. For a Tenant Ownership Change or Financing Event, Tenant shall pay to County Value Appreciation Rent in the amount of $140,000 if such an event is executed within a year of the Effective Date. This sum shall increase by 2.5% per year compounded. By way of example only, a Tenant Ownership Change or Financing Event executed 4 years from the Lease Date shall require a sum of $150,765 paid to the County. Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.
Sample 1

Related to Value Appreciation Rent

  • Performance Appraisal The employee's performance will be rated by his/her immediate excluded supervisor. The rater shall discuss the performance appraisal with the employee. The employee shall have the opportunity to provide his/her comments to be attached to the performance appraisal. The employee shall sign the performance appraisal and that signature shall only indicate that the employee has read the performance appraisal. A copy shall be provided the employee at this time.

  • Performance Appraisals 3201 The Employer shall complete a written appraisal of a nurse's performance at least bi-annually. Upon request, the nurse shall be given an exact copy of the appraisal. 3202 The nurse shall have an opportunity to read such document. 3203 The nurse's signature on such document merely signifies that the contents of the document have been read. 3204 If the nurse disputes the appraisal, she/he may file a reply to the document in accordance with Article 29, and/or she/he may file a grievance under Article 12 of this Agreement.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

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  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

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  • Performance Measure Grantee will adhere to the performance measures requirements documented in

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