Basic Rent Payment definition
Examples of Basic Rent Payment in a sentence
No interest shall accrue on the amount of any payment made on the Business Day next succeeding the regularly scheduled Basic Rent Payment Date, if such payment is made on such next succeeding Business Day because the original date of payment was not a Business Day (it being understood that the amount of Basic Rent includes Rent for such day).
The Issuer reserves and the Company covenants and agrees to pay to the Trustee hereinafter provided and in the Indenture designated, for the account of the Issuer and during the Basic Term, for deposit in the Principal and Interest Payment Account referred to herein and in the Indenture established, on each Basic Rent Payment Date, Basic Rent in immediately available funds.
Basic Rent is due and payable from the Board no later than the 15th day prior to each Basic Rent Payment Date.
On each Basic Rent Payment Date, the Lessee shall deliver to the Lessor and the Secured Parties a signed and completed Rent Due and SCV Confirmation Schedule.
On each Basic Rent Payment Date, Lessee will pay to Lessor as Basic Rent an amount equal to the Basic Rent Amount; provided that on the Delivery Date, Lessee shall pay to Lessor an amount equal to ***** (the “Initial Basic Rent Payment”).
Lessee shall pay to Lessor on each Basic Rent Payment Date an amount of Basic Rent specified opposite each Basic Rent Payment Date on Exhibit B hereto as such amounts may be adjusted pursuant to Section 3 plus accrued interest on Basic Rent previously accrued but unpaid as specified on Exhibit B.
Basic Rent shall not be adjusted to reflect changes in the CPI until the third (3rd) anniversary of the Basic Rent Payment Date on which the first full quarterly installment of Basic Rent shall be due and payable (the "First Full Basic Rent Payment Date").
The date that each payment of Basic Rent is due is hereinafter referred to as a "Basic Rent Payment Date".
Notwithstanding the foregoing, Lessor will report and pay all use taxes and Lessee will pay to Lessor, on each Basic Rent Payment Date, as additional rent, an amount equal to the use taxes attributable to that payment of Basic Rent.
Basic Rent is due commencing on the Commencement Date on each Basic Rent Payment Date in the amount set forth for such Basic Rent Payment Date on Schedule I to this Exhibit B.