Adjusted Rent definition

Adjusted Rent has the meaning ascribed to such term in Section 2.1(d)(ii)(a). “Affiliates” shall have the meaning set forth in Section 5031 of the California Corporations Code, as amended.
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Adjusted Rent means the Base Rent as adjusted from time to time pursuant to Section (d) of this Article 3. Tenant shall pay Landlord the Adjusted Rent in equal monthly installments, which installments shall be payable in advance on the first day of each calendar month during the term of this lease at the office of Landlord or at such other place as Landlord may from to time designate in writing. All rent shall be paid without deduction of setoff. Any installment of rent payable for a portion, less than all, of a calendar month shall be prorated on the basis of a 30-day month and shall be payable on the first day of such portion.
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Adjusted Rent means the annualization of all amounts collected from tenants of the Property for the most recent three (3) months as reflected in the most recent month's rent roll and adjusted for Effective Rent, excluding (i) nonrecurring income and non-property related income (as determined by Lender in its sole discretion) and (ii) income from (A) tenants that are more than sixty (60) or more days past due; or (B) tenants that have been thirty (30) or more days delinquent four (4) or more times during the immediately prior twelve (12) month period.
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Examples of Adjusted Rent in a sentence

  • If Landlord notifies Tenant of a change in the Base Rent after an Adjustment Date, Tenant shall pay the difference between the Base Rent actually paid prior to such notice and the Base Rent actually due on or after such Adjustment Date, together with Tenant’s next payment of Adjusted Rent.

  • Pro Forma Adjusted Rent Coverage Ratio, Term Debt and Term Debt to EBITDA Ratio are not defined by Canadian accounting standards for private enterprises (“ASPE”) or IFRS and do not have standardized meanings prescribed by ASPE or IFRS.

  • This surcharge shall not be included as part of the Maximum Adjusted Rent for purposes of calculating the automatic rent adjustment pursuant to Section 151.06 D.

  • Any Outstanding Loan Amount or accrued and unpaid interest that is offset by the Adjusted Rent shall be considered repaid by the Borrower pursuant to the terms hereof.

  • Landlord shall in no way be responsible or liable for any failure to collect any rent due and/or accrued from such reletting, to the end and intent that Landlord may elect to hold Tenant liable for the Base Rent, Adjusted Rent, and Additional Rent, and any and all other items of cost and expense which Tenant shall have been obligated to pay throughout the remainder of the Term.

  • Dilawri’s method of calculating EBITDA may differ from other issuers’ calculations and, accordingly, may not be comparable to measures used by other issuers.References to “Pro Forma Adjusted Rent Coverage Ratio”, “Term Debt” and “Term Debt to EBITDA Ratio”, which are key measures of performance used by automotive dealership businesses, refer to the Pro Forma Adjusted Rent Coverage Ratio, Term Debt and Term Debt to EBITDA Ratio of the Dilawri Group on a non-consolidated combined basis.

  • Tenant shall pay the first installment of Adjusted Rent to Landlord contemporaneously with the execution of this Lease.

  • If the surcharge, as calculated under the above formula, would exceed $75.00 per month or 10% of the Maximum Adjusted Rent, whichever is less, then the surcharge period of five years may be extended until the allowable rehabilitation expenses are covered.

  • If the surcharge, as calculated under the above formula, would exceed $75.00 per month or 10% of the Maximum Adjusted Rent, whichever is less, then the surcharge period of five years may be extended until the allowable rehabilitation expenses are recovered.

  • If the Commencement Date is not the first day of a month, the Adjusted Rent payable on the first day of the second month of the term shall be prorated so that Tenant shall pay a proportionate share of Adjusted Rent based on the days in the prior month which fell on or after the Commencement Date.


More Definitions of Adjusted Rent

Adjusted Rent for any period, the actual Rents for such period adjusted to reflect (a) the occupancy of any Property during such period at the lesser of actual occupancy and 80% occupancy and (b) such other adjustments to Rents (which may include, if necessary, the adjustment of departmental profit to industry standards) as required by the Lender in its reasonable discretion. ADJUSTED OPERATING EXPENSES: for any period, the Operating Expenses for all Properties for such period adjusted to reflect (a) minimum base management fees of (i) 4.0% of Rents for each Property that is a "full-service hotel" and (ii) 4.5% of Rents for such period for each Property that is a "limited-service hotel", (b) royalty, reservation, marketing and other franchise fees for such period at the greater of actual or 6.0% of room revenues for such period, (c) deposits into the Capital Expense and FF&E Reserve Subaccount for such period, and (d) such other adjustments to Operating Expenses (which may include, if necessary, the adjustment of department profit to industry standards) as required by the Lender in its reasonable discretion. AFFILIATE: as to any Person, any other Person that, directly or indirectly, is in Control of, is Controlled by or is under common Control with such Person or is a director or officer of such Person or of an Affiliate of such Person.
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Adjusted Rent shall have the meaning set forth in Section 5(k). "Arbitration" shall have the meaning set forth in Section 5(k). "Borrower" shall have the meaning set forth in the introduction. "Code" shall have the meaning set forth in Section 1(b).
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Adjusted Rent. During the first year of the five (5) year renewal term, the monthly rental amount shall be the amount of the monthly rental for the last lease year of the primary lease term increased by the CPI in the manner described in Paragraph 4(a) above. Monthly rental amounts for each succeeding year of the renewal term shall be increased by the CPI in keeping with the method set forth in Paragraph 4(a) above. All such rental payments during the renewal term shall be made, without any deduction or offset whatsoever, on or before the first day of each month, together with any and all sales or use taxes due thereon.
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Adjusted Rent is the base rent payable for the lease, renewal or additional space as applicable, plus Tenant’s pro rala share of estimated recoverable stabilized building operating expenses (calculated based on the estimated expenses for the lst lease year following commencement of the term). For purposes of the initial lease, the operating expenses are estimated to be $10.30 per RSF. Additional rent specifically does not include (i) any rents which are not actually intended to be paid by the tenant, such as free rent or abated rent, ii) percentage rents, iii) amortized tenant improvements in excess of the Tenant Improvement Allowance given by the Landlord, or iv) other amortized concessions given to the tenant.
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Adjusted Rent means a per annum amount, calculated on June 1, 1996 and June 1 of every fifth year thereafter, equal to the sum of $368,000, plus (or minus, in the event of decrease) (x), plus (or minus, in the event of decrease) (y), where (x) equals 13,000 (the approximate number of office square feet in the Leased Premises) multiplied by the amount by which the then-existing NAIOP Office Rate has increased or decreased in comparison with the 1991 NAIOP Office Rate, and (y) equals 62,000 (the approximate number of warehouse square feet in the Leased Premises) multiplied by the amount by which the then- existing NAIOP Warehouse Rate has increased or decreased in comparison with the 1991 NAIOP Warehouse Rate. For the purposes of this Section 4.2, the term "NAIOP Office Rate" shall mean the stated "average" office space rental rate (measured in annual dollars and cents per square foot) for "office warehouse" properties in the "Southwest Suburban" submarket (or other appropriate description of the submarket in which the Leased Premises are located), as published by the Minnesota Chapter of the National Association of Industrial Office Parks in the June update to their annual Industrial Space Update, and the term "NAIOP Warehouse Rate" shall mean the stated "average" warehouse space rental rate (measured in annual dollars and cents per square foot) for "office warehouse" properties in the "Southwest Suburban" submarket (or other appropriate description of the submarket in which the Leased Premises are located), as published by the Minnesota Chapter of the National Association of Industrial Office Parks in the June update to their annual Industrial Space Update. In the event that the National Association of Industrial Office Parks ceases to publish the data necessary to calculate the "NAIOP Warehouse Rate" and/or "NAIOP Office Rate", Landlord and Tenant shall reasonably agree on an alternative method for calculating these amounts. The applicable NAIOP Office Rate for 1991 and 1996, respectively, was $6.88 psf and $6.87 psf, and the applicable NAIOP Warehouse Rate for 1991 and 1996, respectively, was $3.48 psf and $3.56 psf The Adjusted Rent effective as of October 1, 1996, is $372,829.92. Notwithstanding anything contained herein to the contrary, in no event shall the annual rent payable by Tenant hereunder be less than the highest of any previously established annual rent, whether "Initial Rent", "Adjusted Rent" (during either initial or extended term), or, during the exten...
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Adjusted Rent is the base rent payable for the extended Term, not including in such amount any rents which are not actually intended to be paid by Tenant, such as free rent or abated rent, additional rents, percentage rents, reimbursements, amortized tenant improvements in excess of the applicable building standard, or other amortized concessions given to the tenant.
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Related to Adjusted Rent

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

  • 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.

  • 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

  • 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.

  • 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.

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

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

  • 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.

  • Consolidated Rentals means, with reference to any period, the Rentals of the Borrower and its Subsidiaries calculated on a consolidated basis for such period.

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

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

  • 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.

  • 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.

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

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

  • Consolidated Rental Expense means, for any period, on a consolidated basis for the Company and its Subsidiaries, the aggregate amount of fixed and contingent rentals payable in cash by the Company and its Subsidiaries with respect to leases of real and personal property (excluding capital lease obligations) determined in accordance with GAAP for such period (subject to Section 1.04(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.

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

  • 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;

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

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

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • 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.

  • 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.

  • 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.