Contingent rent means any rent that is not fixed rent, including any amount reflecting an adjustment based on a reasonable price index (as defined in paragraph (h)(10) of this section) or a variable interest rate provision (as defined in paragraph (h)(16) of this sec- tion).
Contingent rent means the additional payment that may be paid by Lessee to Borrower pursuant to Section 3.3(f) of the Master Lease.
Contingent rent has the meaning set forth in Section 3(c).
Examples of Contingent rent in a sentence
Contingent rent is recognised as an expense for the period in which it is incurred.
Contingent rent may arise when payments due under the contract are not fixed in amount but vary based on a future factor such as the amount of use or production.
Contingent rent may arise when payments due under the PPA are not fixed in amount but vary based on a future factor such as the amount of use or production.
Contingent rent – increases in the amount to be paid for the property arising during the contract (debited to interest payable and similar charges).
CPC-M will indicate where applicable whether or not the financial test is met.
More Definitions of Contingent rent
Contingent rent means, for any Tenant Site Asset as of any date of determination, the Rent paid by Tenants with respect to such Tenant Site Asset to an Asset Entity pursuant to a Tenant Lease in excess of the minimum rent payable by such Tenant under such Tenant Lease.
Contingent rent shall be calculated as the product of (a) eighty-five percent (85%) of any per annum increase in the Consumer Price Index for all Items as published by the Department of Labor Bureau of Economics and Statistics reported during the preceding calendar quarter, and (b) the Capitalized Lessor's Cost of the Equipment, PLUS an amount to be determined based on the differential between (1) the average annual revenues generated at the Aladdin Hotel and Casino for the period from November 1, 1992, through November 18, 1997, and (2) the average annual revenues generated at the Aladdin Hotel and Casino for the period from the Construction Completion Date through and including the subsequent sixty (60) months; provided, however, that the maximum Contingent Rent shall not exceed that amount calculated as the following specified percentage of the Capitalized Lessor's Cost of the Equipment: if the Equipment is returned at the end of three (3) years, 13.66%; if the Equipment is returned at the end of four (4) years, 6.36%; and if the Equipment is returned at the end of five (5) years, 4.40%. "DEFAULT RATE" shall have the meaning assigned to it in SECTION 2(E). "DOL" shall mean the United States Department of Labor or any successor thereto. "DOLLARS" and "$" shall mean lawful money of the United States of America. "EARLY TERMINATION DATE" shall have the meaning assigned to it in Section 4 of the Master Lease Agreement. "ENVIRONMENTAL CLAIM" shall mean any accusation, allegation, notice of violation, claim, demand, abatement or other order or direction (conditional or otherwise) by any Governmental Authority or any Person for Personal Injury (including sickness, disease or death), tangible or intangible property damage, damage to the environment or other adverse effects on the environment or for fines, penalties or restrictions resulting from or based upon any release. "ENVIRONMENTAL LAWS" shall mean all federal, state and local laws, statutes, ordinances, orders and regulations, now or hereafter in effect, and in each case as amended or supplemented from time to time, and any applicable judicial or administrative interpretation thereof relating to the regulation and protection of human health, safety, the environment and natural resources (including, without limitation, ambient air, surface water, groundwater, wetlands, land surface or subsurface strata, wildlife, aquatic species and vegetation). Environmental Laws include, but are not limited to, the Comprehensive Environm...
Contingent rent means any rentthat is not fixed rent, including anyamount reflecting an adjustment based on a reasonable price index (as defined in paragraph (h)(10) of this section) or a variable interest rate provision (asdefined in paragraph (h)(16) of this section).
Contingent rent means amounts payable to any Participant pursuant to Article XIII of the Participation Agreement.
Contingent rent means amounts payable to any Indemnitee pursuant to Section 13 of the Transaction Agreement or which become due and payable to any Person pursuant to any provisions of Section 15.11, 15.17(c) or 15.20 of the Transaction Agreement or Section 7.11 of the Construction Agency Agreement.
Contingent rent means: (i) if the consolidated revenues of Guarantor, determined in accordance with GAAP, is greater than $3,100,000,000 for any calendar year which begins or ends during the Term, fourteen percent (14%) of the Capitalized Lessor’s Cost of the Equipment; or (ii) if Clause (i) is not applicable, then the cumulative value, for each calendar quarter, starting with the calendar quarter immediately preceding the Basic Term Commencement Date of the first Schedule to be executed under this Agreement, and continuing through the calendar quarter immediately preceding the date which would have been the expiration or termination of the second Renewal Term (whether or not Lessee has exercised its renewal option pursuant to Section 9(d) of this Agreement), of either of the following (whichever results in the larger cumulative value): (a) the product of (x) the annualized change in the Consumer Price Index between the first and last Business Days of any calendar quarter, and (y) the Capitalized Lessor’s Cost of the Equipment; or (b) the increase in consolidated “Income before Income Taxes and Minority Interests” of Guarantor, determined in accordance with GAAP (excluding any restructuring, special charges or effects of changes in accounting principles) and as reported by Guarantor in its SEC filings each quarter, as compared to the previous calendar quarter. Notwithstanding the foregoing, in no event will the aggregate Contingent Rent payable under this Agreement exceed the aggregate Maximum Lessor Risk Amount which is then applicable.
Contingent rent shall be a temporary fee levied by the Authority pursuant to the Leases payable by the RACs to the Trustee in order to respond to an unexpected actual or anticipated decrease in Transaction Days in order to supplement CFC revenues in order to pay principal of and interest on the Bonds and the TIFIA Loan, to reimburse the Rolling Coverage Fund, the Supplemental Reserve Fund and the Debt Service Reserve Fund for any drawings upon such funds, and to meet certain other financial obligations under this Agreement and the Leases.