Adjusted Rental definition
Examples of Adjusted Rental in a sentence
Rent for any fractional month at the beginning of the Lease Term shall be prorated based on one-three hundred sixty-fifth (1/365) of the current annual Adjusted Rental for each day of the partial month this Lease is in effect, and shall be due and payable on or before the first day of the calendar month immediately following the month in which the Commencement Date occurs.
The throughput fee of *** (the “Base Throughput Fee”), the Facility Fee, and the fee on In Well Deliveries will be subject to the same escalation factors as those used to compute the Adjusted Rental Rate; provided, however, the total Base Throughput Fee for both receipts and deliveries will be escalated (the “Adjusted Throughput Fee(s)”).
Upon Lessor’s receipt of any Termination Notice, if this Lease is not terminated with respect to all FF&E, Lessor and Lessee shall execute an Amendment to Equipment Lease Agreement specifying the FF&E remaining under the Lease and the Adjusted Rental Payment thereunder.
The monthly rental payable for January 1, 1998 to December 31, 2000 (the “First Rent Adjustment Date”) shall be the greater of the following: (i) $47,666, or (ii) the amount of rent determined by the percentage increase in the CPI for the period from January 1, 1995 to December 31, 1997 multiplied by $47,666 (“First Adjusted Rental Period”).
Notwithstanding the foregoing provisions of this Paragraph 15, Tenant shall not have the right to terminate this Lease if Landlord shall, within the applicable 180 day period, make available to Tenant space within the Building comparable to that portion of the Premises damaged or destroyed and Landlord’s responsibility for diminution of Adjusted Rental shall expire from and after Landlord’s furnishing of such comparable, replacement space within the Building.
In addition to the other remedies set forth herein, if any Vehicle is not returned to Lessor, or if Lessor is prevented from taking possession thereof, Lessee shall pay to Lessor immediately upon demand Adjusted Rental as provided in Section 9, as if such Vehicle had been sold on the date this Lease was terminated, and the amount of net sale proceeds therefor were zero.
The monthly rental payable for January 1, 2001 to December 31, 2003, shall be the greater of the following: (i) the monthly rent payable during the First Adjusted Rental Period or (ii) the amount of rent determined by the percentage increase in the CPI from January 1, 1998 to December 30, 2000 multiplied by the monthly rent paid during the First Adjusted Rental Period (“Second Adjusted Rental Period”).
Rent for any fractional month at the beginning of the Lease Term shall be prorated based on one-three hundred sixty-fifth (1/365) of the current annual Adjusted Rental for each day of the partial month this Lease is in effect, and shall be due and payable on or before that date on which Tenant certifies that it has accepted the Premises pursuant to Paragraph 2 hereof.
Also, if Landlord does not receive any Adjusted Rental or fails to pay any sum (other than Adjusted Rental) which at any time becomes due to Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at a eighteen percent (18%) annual rate (the “Past Due Rate”).
Landlord may, from time to time, without prejudice to any other remedy, use such deposit to the extent necessary to make good any arrearages of Adjusted Rental or other amounts due hereunder and any other damage, injury, expense or liability caused to Landlord by such event of default.