Additional Minimum Rent definition

Additional Minimum Rent means with respect to any Fiscal Year an amount equal to the aggregate of Additional Minimum Rent applicable to each Landlord Expenditure hereafter made by Landlord. For each Landlord Expenditure hereafter made by Landlord, Additional Minimum Rent shall be paid by Tenant for each Fiscal Year in an amount equal to the product of: (a) the Subsequently Agreed Lease Rate applicable to such additional Landlord Expenditure and (b) the amount of such Landlord Expenditure. Landlord shall notify Tenant in writing as to the Additional Minimum Rent amount, and the calculation thereof, at the time of each Landlord Expenditure.
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Additional Minimum Rent shall have the meaning given to such term in Section 3.1.2.
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Additional Minimum Rent shall be payable as provided in Exhibit C attached hereto during the Initial Term, and shall be subject to adjustment for increases or decreases in the Landlord’s Investment in the same manner as Minimum Rent.. No Additional Minimum Rent shall be payable during the Extended Terms, as the Minimum Rent will have been determined for the Extended Terms to include an increase for such rent. As provided in Exhibit C, Additional Minimum Rent for the first three (3) Accounting Years is accrued and payment is deferred until the following two Accounting Years. Tenant may pay in advance any part or all of Deferred Additional Minimum Rent that may then have been accrued, and upon notice from Tenant to Landlord, all Additional Minimum Rent thereafter accruing shall be payable monthly on a current basis (as accrued, and without deferral).
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Examples of Additional Minimum Rent in a sentence

  • The Additional Minimum Rent shall be payable to Lessor in the same manner and location as the Minimum Rent.

  • Tenant shall keep and maintain at all times in accordance with GAAP (separate and apart from its other books, records and accounts) complete and accurate up to date books and records adequate to reflect clearly and correctly the results of operations of the Leased Property, on an accrual basis, including but not limited to, each calculation of Additional Minimum Rent.

  • Such deficiency shall be calculated and paid at the time each payment of Minimum Rent, Additional Minimum Rent (if applicable) or any other sum shall otherwise become due under this Lease, or, at the option of Landlord, at the end of the Term of this Lease.

  • Such books and records shall be available for at least four (4) years after the applicable quarterly calculation of Additional Minimum Rent for Landlord’s inspection, copying, review and audit at Landlord’s expense during reasonable business hours and upon reasonable notice for the purpose of verifying the accuracy of Tenant’s calculation of Additional Minimum Rent.

  • Tenant shall pay, in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without offset, abatement, demand or deduction (unless otherwise expressly provided in this Agreement), Minimum Rent and Additional Minimum Rent to Landlord and Additional Charges to the party to whom such Additional Charges are payable, during the Term.

  • With respect to any future Improvement or renovation which Lessor agrees to fund, all such amounts shall be deemed Additional Lessor Expenditures and increase the amount of Additional Minimum Rent payable hereunder for subsequent Fiscal Years.

  • If such audit discloses a deficiency in the payment of Additional Minimum Rent, Tenant shall forthwith pay to Landlord the amount of the deficiency, together with interest at the Disbursement Rate from the date such payment should have been made to the date of payment therefore and immediately reimburse Landlord for the reasonable costs of such audit and examination.

  • Tenant shall deliver to Landlord within sixty (60) days after the end of each Fiscal Year, a profit and loss statement, balance sheet and statement of cash flow showing results from the operation of the Leased Property during such Fiscal Year, including without limitation, an accounting if the calculation of Additional Minimum Rent and amounts paid into the Reserve, and reasons for material variations from the approved budget for such year.

  • The portion of the BII proceeds payable by the insurance company or companies towards Additional Minimum Rent, Minimum Rent and Impositions due and payable hereunder during the period of reconstruction or repair of the Leased Property necessitated by the damage or destruction in question shall be paid by the insurance company or companies in trust to Landlord (“Landlord’s BII Proceeds”).

  • For a breach occurring under Section 13.1.4 above, Lessee’s obligation to pay Additional Minimum Rent shall commence as of the date of the breach (i.e., the one-year anniversary of the date on which operation of the project on the Premises was ceased in violation of Section 13.1.4 above), and the “Additional Minimum Rent” owing shall be Four Hundred Thousand and No/100 Dollars ($400,000) per year for the each year thereafter until the subject breach of Section 13.1.4 is cured or this Lease is terminated.

Related to Additional Minimum Rent

  • Minimum Rent means the sum of Thirty-Three Million, Six Hundred Seventy-Nine Thousand, Seven Hundred Sixteen and 55/100 Dollars ($33,679,716.55) per annum.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Percentage Rent As defined in Subsection 3.1(b).

  • Additional Rental has the meaning set forth in Section 4.03.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Room Rent Means the amount charged by a hospital for the occupancy of a bed on per day (24 hours) basis and shall include associated medical expenses.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Interim Rent means the pro-rata portion of Rent due for the period from the Commencement Date through but not including the first day of the first full Rent Interval included in the Initial Term.

  • Property tax increment means the amount obtained by:

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Incremental property taxes means the taxes as provided in Iowa Code sections 403.19 and 260E.4. “Industry” means a business engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, but excludes retail, health, or professional services. An industry is a business engaged in activities described as eligible in the Act rather than the generic definition encompassing all businesses in the state doing the same activities. An industry is considered to be a single, corporate entity or operating subdivision. An industry which closes or substantially reduces its operation in one area of the state of Iowa and relocates substantially the same operation in another area of the state is not eligible for a project. This definition does not prohibit a business from expanding its operations in another area of the state provided that existing operations of a similar nature are not

  • Base Year means the period set forth in Section 5 of the Summary.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Rent Expense means, for any Person for any period of determination, such Person’s operating lease expense computed in accordance with GAAP, including, without limitation, all contingent rentals, but excluding all common area maintenance expenses.