Annual Base Rental definition

Annual Base Rental. Section 5.01
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Annual Base Rental. $540,000 per year ($45,000 per month) subject to adjustment pursuant to Sections 1.2 and 5.2 of the Lease, which amount for the initial Lease Year shall be the product of $13.50 multiplied by the Rentable Area of the Premises. In the event that prior to the date of Substantial Completion Tenant occupies the 1st and 2nd floors only of the Premises, the Annual Base Rental shall be $425,250.00 per year ($35,437.50 per month) until the date of Substantial Completion, whereupon Annual Base Rental shall be in the amount first set forth in this paragraph, subject to adjustment pursuant to Sections 1.2 and 5.2 of the Lease. Security Deposit: $70,000.00 Lease Year: The 12-month period beginning on the first day of the first full month following the Rent Commencement Date, and each anniversary thereof.
Sample 1
Annual Base Rental. Annual Base Rental for the Sublease Premises shall be as follows: Months 1- 6: $0.00 Months 7-18: $17.75 per square foot of Rentable Area Months 19-30: $18.75 per square foot of Rentable Area Months 31-42: $19.50 per square foot of Rentable Area
Sample 1

Examples of Annual Base Rental in a sentence

  • The lack of participation in such entities could be felt when formulating new policies and legislation.

  • The effect of this reconciliation payment or adjustment is that the Tenant shall pay during each Fiscal Year during the Term, in addition to the Annual Base Rental, Tenant's Proportionate Share of Operating Expenses in excess of an amount equal to that Fixed years allowance.

  • The term “Rental” as used herein means the sum of Annual Base Rental, and all other sums due hereunder by Tenant to Landlord, whether or not expressly denominated as rent, and shall constitute Rental for the purposes of Section 502(b)(6) of the Bankruptcy Code (11 U.S.C. § 502(b)(6)) unless a lesser amount as permitted under said section is actually due to Landlord, which in that case the lesser amount shall constitute Rental owed to the Landlord.

  • The intent is to include Lessee’s proportionate share of all Base Year Costs in Lessee’s Annual Base Rental Rate.

  • Tenant covenants and agrees to pay to Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental specified in the Basic Lease Information, payable monthly in advance, without notice or demand, on the first day of each calendar month.

  • Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental specified in the Basic Lease Information, payable monthly in advance, without notice or demand, on the first day of each calendar month.

  • Section 5.02 Upon the first anniversary of the Commencement Date of this Lease, and upon each and every anniversary date thereafter, the then current Annual Base Rental shall be increased by the Annual Base Rental Rate Increase (cumulative) as specified in the Basic Lease Information.

  • Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without notice or demand, on the first day of each calendar month.

  • Section 5.01 Tenant covenants and agrees to pay to Landlord as Rental for the Premises, in lawful money of the United States, 1/12 of the Annual Base Rental, payable monthly in advance, without set-off, notice or demand, on the first day of each calendar month.

  • But every mortgage is different, and there are a lot of options to choose from and additional steps to take to finish the deal.


More Definitions of Annual Base Rental

Annual Base Rental for Lease Year 1 is equal to $8.00 per rentable square foot and is increased by $.50 per square foot each year.
Sample 1
Annual Base Rental. Amount: ___________________________________________________ Monthly Deposits: ___________________________________________________ Term: ___________________________________________________ Termination Date: ___________________________________________________ Renewal Option(s): ___________________________________________________ Square Footage: ___________________________________________________ Use: ___________________________________________________
Sample 1

Related to Annual Base Rental

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

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

  • 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

  • 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.

  • 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.

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

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • 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).

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

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

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees' fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series' statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series' “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are "extraordinary" as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LP By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Chief Financial Officer THE ROYCE FUND By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Treasurer April 29, 2024 The Royce Fund 000 Xxxxx Xxxxxx New York, NY 10151 Gentlemen: Reference is made to the Investment Advisory Agreement dated July 31, 2020 (the “Agreement”), by and between The Royce Fund (the “Fund”), on behalf of Xxxxx Total Return Fund (the “Series”), and Royce & Associates, LP (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services it provides under the Agreement for the period beginning May 1, 2024, and ending April 30, 2025 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to its Service Class of shares (the “Class”) in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for the Class are not more than 1.49% of the Class’s average net assets for the Period. The Adviser's obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

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

  • 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.

  • 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.

  • 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.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Restricted Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • 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.

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

  • Vacation rental means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act.

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • 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.

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.