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-
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
The first monthly payment of Allocated Minimum Rent for such Facility shall be payable on the applicable Commencement Date with respect to such Facility (prorated as to any partial calendar month at the beginning of the Term).
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 Oak Park 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) [***].
Pool 11 Minimum Rent: The sum of the Allocated Minimum Rent for all Pool 11 Facilities.
Thereafter, the Pre-Adjusted Minimum Rent for each subsequent month shall be equal to the sum of the Allocated Minimum Rent for each Facility for such month, as the same may be increased for a Facility pursuant to the terms and formulas set forth in Schedule 3.1.3 attached hereto.
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 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. 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 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. As defined in the Lease.
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 A-1 and Exhibit A-2 attached hereto and as the same is increased from time to time in accordance with Sections 3.1.1 and 3.1.2; provided, however, that Lessor and Lessee acknowledge and agree that such allocation is solely for purposes of implementing the provisions of Sections 5.2, 15.1.2, 16.5, 19.2 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. 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 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.