Construction Rent definition

Construction Rent has the meaning set forth in §2.1.

Construction Rent has the meaning provided in Section 3.2(b).

Construction Rent shall be based upon the amount of Landlord’s Additional Contribution. Tenant’s monthly payments of Construction Rent shall be equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord’s Additional Contribution, together with interest at the rate of eight percent (8%) per annum, on a level direct reduction basis over a one hundred twenty (120) month period.

Examples of Construction Rent in a sentence

• Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, termination of the Lease).

• Construction Rent shall be payable by Tenant to Landlord commencing as of the Commencement Date and continuing on the first day of each month thereafter throughout the Lease Term.

• Tenant’s monthly payments of Construction Rent shall be equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord’s Additional Contribution, together with interest at the rate of eight percent (8%) per annum, on a level direct reduction basis over a one hundred twenty (120) month period.

• Base Rent, Construction Rent, and any other amounts due and payable by Xxxxxx to the Town hereunder (“Additional Rent”) are hereinafter referred to as “Rent”.

• Monthly payments of Construction Rent shall be payable at the same time and in the same manner as Yearly Rent is payable under the Lease.

More Definitions of Construction Rent

Construction Rent has the meaning set forth in Section S(b) of this Agreement.

Construction Rent shall be based upon the amount of applicable portion of the Landlord’s Construction Loan and the accrual of interest relating to the same from the date of advance through the date of the applicable payment of Construction Rent, as more particularly set forth in Exhibit D attached hereto. Tenant’s monthly payments of Construction Rent shall be equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord’s Construction Loan, together with interest at the rate of eight percent (8%) per annum, on a level direct reduction basis over the initial Lease Term commencing on the applicable Commencement Date for the portion of the Leased Premises for which Landlord’s Construction Loan was funded.

Construction Rent. See Section 5.2.

Construction Rent means a monthly sum equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord's Additional Contribution paid to Tenant, together with interest at the rate of eight (8%) percent per annum, on a level direct reduction basis over the Initial Lease Term (commencing as of the Rent Commencement Date). Construction Rent shall be treated as Additional Rent under the Lease. Landlord will deliver to Tenant a statement setting forth the Construction Rent. Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, termination of the Lease). In the event of any termination of this Lease, the outstanding balance of Landlord's Additional Contribution, plus all unpaid interest earned thereon shall become automatically due and payable as of the date of such termination.

Construction Rent shall be payable by Tenant to Landlord commencing as of the first date Landlord provides any portion of Landlord’s Additional Contribution, and continuing on the first day of each month thereafter throughout the Term of the Lease. Construction Rent shall be based upon the amount of Landlord’s Additional Contribution so provided. Tenant's monthly payments of Construction Rent shall be equal to the amount which would be necessary to repay a loan in the amount of Landlord’s Additional Contribution (or so much thereof as has been disbursed), in equal monthly payments of principal and interest, on a direct reduction basis over the sixty-six-(66)-month Term of the Lease with respect to the Office Premises with interest at the rate of ten (10%) percent per annum.

Construction Rent shall be the monthly payments, based upon the Elected Amount of Additional Allowance, equal to the monthly payment of principal and interest which would be necessary to repay a loan in the amount of the Elected Amount, together with interest at the rate of eight percent (8%) per annum, on a level direct reduction basis over the period commencing as of the Construction Rent Commencement Date and ending as of the expiration of the Initial Term of the Lease.

Construction Rent means (i) for the first six (6) months of the Lease Term, 5.5% of the Construction Costs for the First Phase Work, (ii) for the second six (6) months