Basic Monthly Rental definition

Basic Monthly Rental means the Basic Monthly Rental set forth in subparagraph 4A above. The rent adjustment formula used to calculate the Adjusted Monthly Rental is as follows: Adjusted Monthly Rental = Revised Price Index X Base Monthly Rental ========================================= Base Price Index Notwithstanding the above formula, the Adjusted Monthly Rental shall not be less than 103% or greater than 106% of the previous year's Adjusted Monthly Rental, or the Basic Monthly Rental if such adjustment is for the Second Lease Year. The Adjusted Monthly Rental as herein above provided shall continue to be payable monthly as required in paragraph 4A above without necessity of any further notice by the Landlord to the Tenant.

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Basic Monthly Rental means the Basic Monthly Rental set forth in subparagraph 4A above. The rent adjustment formula used to calculate the Adjusted Monthly Rental is as follows: Adjusted Monthly = Revised Price Index X Base Monthly Rental Rental ------------------- Base Price Index The Adjusted Monthly Rental as hereinabove provided shall continue to be payable monthly as required in paragraph 4A above without necessity of any further notice by the Landlord to the Tenant.

Basic Monthly Rental. The Basic Monthly Rental shall be increased to reflect the inclusion of these Premises. Therefore, the new rent schedule shall be as follows: Period Current New Total ------------------------------------------------------------------------------------------ Commencement - October 31, 2000 $53,135.40 $30,080.00 $83,215.40 November 1, 1999 - November 30, 1999 $53,870.38 $30,080.00 $83,950.38 December 1, 1999 - August 31, 2000 $54,513.50 $30,080.00 $84,593.50 September 1, 2000 - September 30, 2000 $54,513.50 $31,645.00 $86,158.50 October 1, 2000 - August 31, 2001 $55,123.50 $31,645.00 $86,768.50 September 1, 2001 - March 31, 2002 $55,123.50 $32,740.00 $87,863.50

Examples of Basic Monthly Rental in a sentence

• Landlord shall have the same remedies for default in the payment of Additional Rent as are available to Landlord in the case of default in the payment of Basic Annual Rental or Basic Monthly Rental.

• Tenant shall not be required to pay Basic Monthly Rental during such Interim Use period unless otherwise agreed to herein.

• Landlord and Tenant acknowledge and agree that Landlord shall send a monthly invoice to Tenant for the Basic Monthly Rental and the absence of same at any time does not relieve Tenant from its obligation to pay any rental when due per this Lease Agreement.

• Whenever it is provided by the terms of this Lease that Tenant is required to make any payment to Landlord other than a payment of Basic Monthly Rental (such as the additional items and amounts specified in Section 4 hereof for utility charges and Operating Expenses and in Section 8 hereof for Impositions and Insurance Premiums, or amounts to reimburse Landlord for legal costs and attorneys’ fees, or for any other such sums), such payment shall be deemed to be a payment of “Additional Rent”.

• In the event that it shall not be lawful for Tenant to so reimburse Landlord, the Basic Monthly Rental payable to Landlord under this Lease shall be revised to net Landlord the same income after imposition of any such tax upon Landlord as would have been received by Landlord hereunder prior to the imposition of any such tax.

• For all purposes of this Lease, the term “Rent” shall be deemed to be a reference to both Basic Monthly Rental and Additional Rent.

• If the provisions of the preceding sentence become applicable, Tenant shall pay Landlord use and occupancy payments for each month or portion thereof Tenant wrongfully holds over possession of the Demised Premises in whole or part, in an amount equal to one hundred fifty percent (150%) of the Basic Monthly Rental payable in the last month of the term hereof (in addition to Landlord being entitled to exercise all available legal and equitable remedies).

• Unless otherwise expressly specified herein, Additional Rent shall be paid by Tenant by the later of (i) the next installment of Basic Monthly Rental thereafter falling due or (ii) within thirty (30) days after request therefor.

• For all purposes of this Lease, the term "Rent" shall be deemed to be a reference to both Basic Monthly Rental and Additional Rent.

• Lessee shall, at Lessor's request, establish arrangements whereby payments of Basic Monthly Rental can be transferred by wire or other means directly from Lessee's bank account to such account as Lessor may designate.

More Definitions of Basic Monthly Rental

Basic Monthly Rental the sum of $ * per month, which Lessee shall pay in advance on or before the first of each month during the Lease Term. However, Basic Monthly Rental for the first month of the Lease Term shall be prorated, if the actual Commencement Date does not occur on the first day of a month. *Months 01-12 $3,469.38 $9.75** Months 13-24 $3,558.33 $10.00 Months 25-36 $3,647.29 $10.25 Months 37-48 $3,736.25 $10.50 Months 49-60 $3,825.21 $10.75 **per square foot of Net Rentable Area of the Premises per year.

Basic Monthly Rental. The Basic Monthly Rental shall increase to the following amounts to reflect the inclusion of the Premises: Current New Total $/Sq.Ft ------- --- ----- ------- December 1, 1998-October 31, 1999 $46,855.40 $4,733.00 $51,588.40 $1.72 November 1, 1999-November 30, 1999 $47,590.38 $4,733.00 $52,323.39 $1.74 December 1, 1999-September 30, 2000 $48,233.50 $4,733.00 $52,966.50 $1.76 October 1, 2000-March 31, 2002 $48,233.50 $5,232.50 $53,465.50 $1.78 TENANT'S PERCENTAGE SHARE OF OPERATING COSTS AND TAXES. The Premises constitutes 1.91% of the total rentable area of the Building. As of December 1, 1998, Tenant's percentage share of operating costs and taxes shall be increased by 1.91%. Tenant's new prorata share as of December 1, 1998 shall be 23.01%.

Basic Monthly Rental. A fixed monthly sum, payable in advance on or before the first of each month to the Lessor during the Lease Term in accordance with the five year schedule of such rents set forth in Paragraph 36 of this Lease. F. "Permitted Use": Lessee shall use the premises solely as a Bank/Financial Institution and for no other purpose, unless approved in writing by Lessor. G. "Lease": This written Lease agreement, together with any and all addenda, rules and regulations of the Shoreway Circle Shopping Center, and written modifications which may from time to time be agreed upon by Lessor and Lessee. GRANTING CLAUSE --------------- In consideration of the obligation of Lessee to pay rent as herein provided and in consideration of the other terms, covenants and conditions hereof, Lessor hereby leases to Lessee, and Lessee hereby takes from Lessor, the Demised Premises to have and to hold the same for the Lease Term specified herein as FIVE years, all upon the terms and conditions set forth in this Lease.