Allocated Minimum Rent means that portion of the Minimum Rent allocated to any one or more Separated Property which shall be calculated as follows: Minimum Rent shall be multiplied by a fraction the numerator of which shall be the NOI of the Separated Property and the denominator of which shall be the aggregate NOI for all of the Leased Property (including the NOI of the Separated Property). By way of example only, assume the Leased Property consists of ten (10) facilities, assume Minimum Rent is Ten Million Dollars ($10,000,000.00), assume that only one (1) Facility is to become a Separate Property, assume that the NOI of the Separate Property is One Million Dollars ($1,000,000.00), and further assume that the aggregate NOI for all of the Leased Property is Ten Million Dollars ($10,000,000.00). In that scenario, the Allocated Minimum Rent for the Separate Property would be One Million Dollars ($1,000,000.00), which is the product of the Minimum Rent ($10,000,000.00) multiplied by a fraction the numerator of which is One Million Dollars ($1,000,000.00) and the denominator of which is Ten Million Dollars ($10,000,000.00). -39- ARTICLE XXXIII
Allocated Minimum Rent. With respect to each Facility, the amount of rent allocated to such Facility as determined by Section 3.1.1 and Exhibit X-0, Xxxxxxx X-0 and Exhibit A-3 attached hereto; provided, however, that Lessor and Lessee acknowledge and agree that such allocation is solely for purposes of implementing the provisions of Sections 3.1.3, 5.2, 16.5 and 31.2.1 hereof and the determination of Transfer Consideration. Except for such Sections, the Minimum Rent and other Rent payable hereunder is payable for all the Facilities as a single, indivisible, integrated and unitary economic unit and that but for such integration, the Minimum Rent and other Rent payable under this Lease would have been computed on a different basis. Alteration: Any alteration, or addition or improvement of or to any portion of the Leased Property, including any Capital Addition or Capital Project, but excluding any Planned Capital Refurbishment Project.
Allocated Minimum Rent. With respect to each Facility, the amount of Minimum Rent allocated to such Facility as set forth in Exhibit D attached hereto (subject to increase as set forth in Article III).
Examples of Allocated Minimum Rent in a sentence
Thereafter, Lessee shall pay monthly Allocated Minimum Rent for such Facility at the new rate set forth in Lessor's notice.
The Pre-Adjusted Allocated Minimum Rent with respect to the Nashville Facility for each Rent Year after the first (1st) Rent Year during the applicable Pool 8 Fixed Term shall be equal to the Pre-Adjusted Allocated Minimum Rent for such Facility for the immediately prior Rent Year, as increased by the greater of (i) [***] or (ii) the lesser of (A) the applicable CPI Increase or (B) [***].
For the Pool 12 Facilities, the Pre-Adjusted Allocated Minimum Rent shall not be subject to escalation during the applicable Term.
Upon the commencement of each subsequent Rent Year of such Extended Term, the Pre-Adjusted Allocated Minimum Rent for the Nashville Facility shall be equal to the Pre-Adjusted Allocated Schedule 3.1.3 Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.
If any such termination occurs, Lessee shall forthwith pay to Lessor all Rent (including all monthly Allocated Minimum Rent) due and payable with respect to the Leased Property of each such Facility as to which this Lease has terminated to and including the date of such termination.
More Definitions of Allocated Minimum Rent
Allocated Minimum Rent. With respect to each Facility, the amount of rent allocated to such Facility as determined by Section 3.1.1 and Exhibit X-0, Xxxxxxx X-0, Exhibit A-3 and Exhibit A-4 attached hereto; provided, however, that Lessor and Lessee acknowledge and agree that such allocation is solely for purposes of implementing the provisions of Sections 5.2, 16.5 and 31.2.1 hereof and the determination of Transfer Consideration for purposes of Section 24.1. Except for such Sections, the Minimum Rent and other Rent payable hereunder is payable for all the Facilities as a single, indivisible, integrated and unitary economic unit and that but for such integration, the Minimum Rent and other Rent payable under this Lease would have been computed on a different basis.
Allocated Minimum Rent. With respect to each Facility, the amount of Minimum Rent allocated to such Facility as set forth on Exhibit C attached hereto (or any amendment or supplement thereto) (subject to increase as set forth in Article III or any other express provision of this Lease or any amendment hereto providing for an increase in Minimum Rent); provided, however, that Lessor and Lessee acknowledge and agree that such allocation is solely for purposes of implementing the provisions of Sections 5.2, 5.3 and 31.2 hereof and the determination of Transfer Consideration for purposes of Section 24.1.2.2. Except for such Sections, the Minimum Rent, Additional Rent and other Rent payable hereunder is payable for all Facilities as a single, integrated and indivisible economic unit, and that but for such integration, the Minimum Rent, Additional Rent and other Rent payable under this Lease would have been computed on a different basis.
Allocated Minimum Rent. With respect to each Facility, the amount of rent allocated to such Facility as determined by Section 3.1.1 and Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Exhibit A-10, Exhibit A-11 and Exhibit A-12 attached hereto; provided, however, that Lessor and Lessee acknowledge and agree that such allocation is solely for purposes of implementing the provisions of Sections 3.1.4, 5.2, 15.1.2, 16.5 and 31.2.1 hereof and the determination of Transfer Consideration. Except for such Sections, the Minimum Rent and other Rent payable hereunder is payable for all the Facilities as a single, indivisible, integrated and unitary economic unit and that but for such integration, the Minimum Rent and other Rent payable under this Lease would have been computed on a different basis. Alteration: Any alteration, or addition or improvement of or to any portion of the Leased Property, including any Capital Addition or Capital Project.
Allocated Minimum Rent. As defined in the Lease.
Allocated Minimum Rent means, with respect to each Facility, at any given time, the amount of Minimum Rent allocated to such Facility as set forth in Exhibit A, as the same shall be increased as set forth in Exhibit E.
Allocated Minimum Rent. With respect to each Facility, the amount of Minimum Rent allocated to such Facility as determined by the applicable Minimum Rent Schedule for such Facility as set forth on Exhibit B-2 attached hereto and incorporated herein by this reference.
Allocated Minimum Rent. With respect to each Facility, the amount of Minimum Rent allocated to such Facility as determined by Section 3.1 and Exhibit B attached hereto (or any replacement to Exhibit B for any applicable Extended Term as provided in Section 3.1(b) below), as the same shall be increased each applicable Lease Year by the Minimum Rent Increase Amount pursuant to Section 3.1(c) below.