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

  • 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.

  • 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").

  • 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").

  • Tenant's failure to timely deliver such statement shall be conclusive upon Tenant: (a) that this Lease is in full force and effect, without modification except as may be represented by Landlord; (b) that there are no uncured defaults in Landlord's performance and Tenant has no right of offset, counterclaim, defenses or deduction against the Minimum Rent, Adjusted Minimum Rent, additional rent or against Landlord; and (c) that no more than one month's installment of Minimum Rent has been paid in advance.

  • 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.

  • Nothing in this Sixth Amendment of Lease 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, additional rent and other charges payable by Tenant in connection with the Growth Space, up to and including the Actual Surrender Date.

  • Tenant hereby 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 this Article XII.

  • All or any portion of the Renovation A Credit that is not utilized by Tenant as of ninety (90) days after the Expansion Space A Inclusion Date shall be forever forfeited and may not be applied against any payment of Minimum Rent, Adjusted Minimum Rent or additional rent due under the Lease.

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

  • Without notice to or the consent of the Holders of the Notes, certain modifications and amendments may be made to the Indenture and the Notes.

Related to Adjusted 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.

  • 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 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

  • 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 Period Annual Rate Per Square Foot Monthly Base Rent

  • 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 rental expense attributable to leases of real property that is deducted in determining Adjusted Consolidated Net Income for such period, determined on a consolidated basis in accordance with GAAP. Consolidated Rent Expense shall be determined on a pro forma basis to give effect to any Material Specified Transaction occurring during such period as if such transactions had occurred on the first day of such period.

  • 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.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • 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 Basic Rent Payment Date as defined in Paragraph 6.

  • 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:

  • Adjusted Asset Value means, as of a given date, the sum of EBITDA attributable to malls, power centers and all other assets for the trailing four (4) quarters most recently ended, divided by (iii) 7.75%. In determining Adjusted Asset Value: