Adjusted Minimum Rent definition

Adjusted Minimum Rent means the Minimum Rent as increased in accordance with this Article to reflect any increase in Taxes and Building Operating Costs. Tenant shall pay such increases as additional rent as hereinafter provided.
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Adjusted Minimum Rent. Means for the Lease Year commencing February 1, 2009 and ending on January 31, 2010, the greater of (i) the Minimum Rent for the immediately preceding Lease Year plus the Incremental Minimum Rent, if any, determined with respect to the immediately preceding Lease Year or (ii) the Fair Market Rent of the Leased Property as of the Lease Year commencing February 1, 2009.
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Adjusted Minimum Rent. Means the greater of (i) the Minimum Rent for the eighth (8th) Lease Year plus the Incremental Minimum Rent, if any, determined with respect to the eighth (8th) Lease Year or (ii) the fair market rental value of the Leased Property at the end of the eighth (8th) Lease Year, as may reasonably be determined by Landlord and Tenant or, if Landlord and Tenant are unable to agree, as determined pursuant to the appraisal process set forth on Exhibit C.
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Examples of Adjusted Minimum Rent in a sentence

  • In no event shall Tenant be entitled to any abatement of, reduction in, or diminution to Minimum Rent, Adjusted Minimum Rent or additional rent due and payable under this Lease for any reason whatsoever including, without limitation, Landlord’s failure to perform its obligations under this Article VIII, unless such failure violates city, state or federal applicable health and safety laws.

  • The Operating Statement shall indicate (i) the initial additional amount required to be paid by Tenant as additional rent; (ii) the Tenant’s new Adjusted Minimum Rent; and (iii) the manner in which such adjustment is computed.

  • The Adjusted Minimum Rent shall be computed based on the increase in the Consumer Price Index - U.S. City average - All Urban Consumers ("Index") as published by the United States Department of Labor's Bureau of Labor Statistics over the base period index.

  • The minimum annual rent is subject to adjustment every five (5) years during the term of this Lease, with each adjustment to commence on March 1 of the year of adjustment ("Adjusted Minimum Rent").

  • After this Lease has been in effect for 60 months, the Minimum Rent shall be adjusted once thereafter by taking the Minimum Rate then in effect and multiplying it by the cumulative percentage change in the U.S. Consumer Price Index for the prior 60-month period, and adding the result of such calculation to the previous Minimum Rent ("Adjusted Minimum Rent").

  • Tenant agrees that it will not be relieved of the obligations to pay the Minimum Rent, Adjusted Minimum Rent or any additional rent in case of damage to or destruction of the Building, except as provided in Article 9 of the printed portion of this Lease.

  • Tenant agrees that it will not be relieved of the obligations to pay the Minimum Rent, Adjusted Minimum Rent or any additional rent in case of damage to or destruction of the Building, except as provided in Article 9 of the Printed Portion of this Lease.

  • Upon request by Landlord, Tenant agrees to deliver in recordable form, a certificate to Landlord, certifying that this Lease is unmodified and in full force and effect (or, if there have been modifications, that the same is in full force and effect as modified, and stating the modifications), that there are no defenses of offsets thereto (or stating those claimed by Tenant) and the dates to which Fixed Minimum Rent, Adjusted Minimum Rent, and other charges have been paid.

  • The Tax Statement shall indicate (1) Tenant's Share of Taxes; (2) an initial lump-sum amount, if any, of Tenant's Share of Taxes required to be paid by Tenant within thirty (30) days of its receipt of the Tax Statement; (3) a monthly amount, if any, to be added to the Adjusted Minimum Rent due to the increase in Tenant's Share of Taxes; and (4) the computation of such amounts.

  • Nothing in this Paragraph shall be deemed to constitute a release or discharge of Tenant with respect to any outstanding and unsatisfied obligation or liability, whether unbilled or calculated, accrued or incurred under the Lease, such as, but not limited to, Minimum Rent, Adjusted Minimum Rent, 77 additional rent and other charges payable by Tenant in connection with the Contraction Space, up to and including the Actual Contraction Date.

Related to Adjusted Minimum Rent

  • Minimum Rent means Forty-Four Million Four Hundred Eleven Thousand Six Hundred Eighteen and 00/100ths Dollars ($44,411,618.00), subject to adjustment as provided in Section 3.1.1(b).

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • 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.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

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

  • Base Rent As defined in Section 3.1.

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

  • Open Year has the meaning specified in Section 4.01(r)(iii).

  • Consolidated Rent Expense means, for any period, the total rent expense with respect to real and personal property of the Borrower for such period, as determined on a Consolidated basis and as reported in its financial statements.

  • 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).

  • Crop year means any 12 month period which represents the planting, growing, harvesting and marketing of an insurable crop, as stated in the Schedules;

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.

  • Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee.

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

  • 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.

  • Adjusted Fair Market Value means, in the event of a Change in Control, the greater of (i) the highest price per Share paid to holders of the Shares in any transaction (or series of transactions) constituting or resulting in a Change in Control or (ii) the highest Fair Market Value of a Share during the ninety (90) day period ending on the date of a Change in Control.

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

  • Net Rentable Area means with respect to any Project, the floor area of any buildings, structures or improvements available for leasing to tenants (excluding storage lockers and parking spaces), as reasonably determined by the Administrative Agent, the manner of such determination to be consistent for all Projects unless otherwise approved by the Administrative Agent.

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

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

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

  • Annual Rent means the amount payable by Tenant to Landlord in respect of each year of the Term under Article 4.01.

  • Adjusted Net Earnings means net earnings (loss) attributable to common stockholders as reported in the Company’s periodic reports filed with the Securities and Exchange Commission, provided that such amount shall be adjusted by reversing the following, to the extent such adjustments were made in calculating such net earnings (loss) attributable to common stockholders: