Contingent Rental Adjustment definition

Contingent Rental Adjustment means the sum of (a) the maximum amount ---------------------------- (calculated as a percentage of the Fair Market Sales Value of the Property as set forth in the Appraisal) that when present valued with the minimum Basic Rent payments to be made during the Term permits the Lease to be characterized as an "operating lease" in accordance with the Statement of Financial Accounting Standards No. 13 as in effect on the Acquisition Date and permits recourse to the Lessee , which in no event shall be less than all amounts due and owing under the Nomura Loan Agreement and (b) any additional amount required to prepay the Loan or defease the Loan in whole or in part pursuant to the Nomura Loan Agreement, including, but not limited to, the Defeasance Deposit or the Yield Maintenance Premium, as applicable , and all costs and fees payable in connection therewith.
Sample 1Sample 2
Contingent Rental Adjustment means the sum of (a) the maximum amount (calculated as a percentage of the Fair Market Sales Value of the Property as set forth in the Appraisal) that when present valued with the minimum Basic Rent payments to be made during the Term permits the Lease to be characterized as an "operating lease" in accordance with the Statement of Financial Accounting Standards No. 13 as in effect on the Acquisition Date and permits recourse to the Lessee, which in no event shall be less than all amounts due and owing under the Nomura Loan Agreement and (b) any additional amount required to prepay the Loan or defease the Loan in whole or in part pursuant to the Nomura Loan Agreement, including, but not limited to, the Defeasance Deposit or the Yield Maintenance Premium, as applicable, and all costs and fees payable in connection therewith.
Sample 1
Contingent Rental Adjustment means the sum of (a) the maximum amount (calculated as a percentage of the Fair Market Sales Value of the Property as set forth in the Appraisal) that when present valued with the minimum Basic Rent payments to be made during the Term permits the Lease to be characterized as an "operating lease" in accordance with the Statement of Financial Accounting Standards No. 13 as in effect on the Acquisition Date and permits recourse to the Lessee , which in no event shall be less than (a) all amounts due and owing under the Xxxxxx Loan Documents and (b) any additional amount required to prepay the Xxxxxx Loan including, but not limited to, any prepayment premium payable under the Xxxxxx Loan Documents and all costs and fees payable in connection therewith.
Sample 1

Examples of Contingent Rental Adjustment in a sentence

  • During the Marketing Period, the obligation of the Lessee to pay Rent shall continue undiminished until payment in full to the Lessor of the Contingent Rental Adjustment and all other amounts due to the Lessor by Lessee under the Operative Documents to which the Lessee is a party.

  • During the Marketing Period, the ---------------------------- obligation of the Lessee to pay Rent shall continue undiminished until payment in full to the Lessor of the Contingent Rental Adjustment and all other amounts due to the Lessor by Lessee under the Operative Documents to which the Lessee is a party.

  • The determination of the highest bid shall be made by the Lessor prior to the end of the Marketing Period, but in any event, the Lessor shall have no obligation to approve any bid unless the aggregate amount of the highest bid for the Property equals or exceeds an amount equal to the Lease Balance minus the Contingent Rental Adjustment determined as of the Expiration Date.

  • If the remaining Gross Proceeds plus the aggregate Contingent Rental Adjustment received by Lessor, exceeds the Lease Balance for such Leased Assets as of such date, then the excess shall be paid to the Lessee on the Expiration Date.

  • During the Marketing Period, the obligation of the Lessee to pay Rent shall continue undiminished until payment in full to the Lessor of the Contingent Rental Adjustment and all other amounts due to the Lessor with respect to the Leased Assets under each Lease Supplement under the Operative Documents to which the Lessee is a party.

  • The determination of the highest bid shall be made by the Lessor prior to the end of the Marketing Period, but in any event, the Lessor shall have no obligation to approve any bid unless such bid for the Property equals or exceeds the Lease Balance determined as of the Expiration Date less the Contingent Rental Adjustment payment made by the -42- 44 Lessee to the Lessor pursuant to Section 24.1(i).

  • During the Marketing Period, the obligation of the Lessee to pay Rent shall continue undiminished until payment in full to the Lessor of the Contingent Rental Adjustment and all other amounts due to the Lessor with respect to the Property under the Operative Documents to which the Lessee is a party.

  • The determination of the highest bid shall be made by the Lessor prior to the end of the Marketing Period, but in any event, the Lessor shall have no obligation to approve any bid unless the aggregate amount of the highest bids for the Property equals or exceeds an amount equal to the Lease Balance minus the Contingent Rental Adjustment determined as of the Expiration Date.

  • In the event that the Applicable Margin is increased pursuant to the preceding sentence, the parties agree to revise the calculation of the Contingent Rental Adjustment to maintain compliance with the Statement of Financial Accounting Standards No. 13 as in effect at such time.


More Definitions of Contingent Rental Adjustment

Contingent Rental Adjustment means the maximum amount (calculated as a percentage of the Fair Market Value of the Property as set forth in the Appraisal) that when present valued with the minimum Basic Rent payments relating to the Property to be made during the applicable Term permits the Lease of such Improvements to be characterized as an "operating lease" in accordance with the Statement of Financial Accounting Standards No. 13 as in effect on the Closing Date.
Sample 1
Contingent Rental Adjustment means the sum of (a) the maximum amount (calculated as a percentage of the Fair Market Sales Value of the Property as set forth in the Appraisal) that when present valued with the minimum Basic Rent payments to be made during the Term permits the Lease to be characterized as an "operating lease" in accordance with the Statement of Financial Accounting Standards No. 13 as in effect on the Acquisition Date and permits recourse to the Lessee , which in no event shall be less than all amounts due and owing under the Xxxxxx Loan Documents and (b) any additional amount required to prepay the Xxxxxx Loan or defease the Xxxxxx Loan pursuant to the Xxxxxx Loan Documents including, but not limited to, the Defeasance Deposit or the Yield Maintenance Amount, as applicable, and all costs and fees payable in connection therewith.
Sample 1
Contingent Rental Adjustment means the sum of (a) the maximum amount (calculated as a percentage of the Fair Market Sales Value of the Property as set forth in the Appraisal) that when present valued with the minimum Basic Rent payments to be made during the Term permits the Lease to be characterized as an "operating lease" in accordance with the Statement of Financial Accounting Standards No. 13 as in effect on the Acquisition Date and permits recourse to the Lessee , which in no event shall be less than all amounts due and owing under the Nomura Loan Agreement and the Mezzanine Loan Agreement and (b) any additional amount required to prepay the Loan or Mezzanine Loan or defease the Loan in whole or in part pursuant to the Nomura Loan Agreement and Mezzanine Loan Agreement, respectively, including, but not limited to, the Defeasance Deposit or the Yield Maintenance Premium, as applicable, and all costs and fees payable in connection therewith.
Sample 1
Contingent Rental Adjustment means the sum of (a) the maximum amount (calculated as a percentage of the Fair Market Sales Value of the Property as set forth in the Appraisal) that when present valued with the minimum Basic Rent payments to be made during the Term permits the Lease to be characterized as an "operating lease" in accordance with the Statement of Financial Accounting Standards No. 13 as in effect on the Acquisition Date and permits recourse to the Lessee , which in no event shall be less than all amounts due and owing under the Heller Loan Documents and (b) any additxxxxx amount required to prepay the Heller Loan or defease the Heller Loan xxxxxxnt to the Heller Loan Xxxxxents including, but nxx xxxited to, the Defeasance Deposit or the Yield Maintenance Amount, as applicable, and all costs and fees payable in connection therewith.
Sample 1
Contingent Rental Adjustment means the guaranteed portion of the Lease Balance determined in accordance with the "90%" test set forth in FASB No. 13 which, with respect to each Leased Asset, is set forth in, or determined pursuant to, the Lease Supplement therefor.
Sample 1

Related to Contingent Rental Adjustment

  • Final Adjustment has the meaning set forth in Section 10.3.B(2) hereof.

  • Estimated Working Capital Adjustment means the amount by which the Estimated Working Capital is greater or less than the Base Working Capital, any such excess amount being treated as a positive number and any shortfall being treated as a negative number;

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Final Adjustment Statement has the meaning set forth in Section 2.6(c).

  • Initial Adjustment Date As to any Adjustable Rate Mortgage Loan, the first Adjustment Date following the origination of such Mortgage Loan.

  • CPI Adjustment means the quotient of (i) the CPI for the month of January in the calendar year for which the CPI Adjustment is being determined, divided by (ii) the CPI for January of 2007.

  • Cost of Living Adjustment or “COLA” means a percentage-based general wage increase adjustment provided in accordance with this memorandum of agreement. COLA is an upward adjustment applied to and folded into all wage rates. The "annualized average of BC CPI over twelve months” (AABC CPI) means the Latest 12-month Average Index % Change reported by BC Stats in March for British Columbia for the twelve months starting at the beginning of March in the preceding year and concluding at the end of the following February. The “Latest 12-month Average Index”, as defined by BC Stats, is a 12-month moving average of the BC consumer price indexes of the most recent 12 months. This figure is calculated by averaging index levels over the applicable 12 months. The Latest 12-month Average Index % Change is reported publicly by BC Stats in the monthly BC Stats Consumer Price Index Highlights report. The BC Stats Consumer Price Index Highlights report released in mid-March will contain the applicable figure for the 12 months concluding at the end of February. The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. For reference purposes only, the annualized average of BC CPI over 12 months from March 1, 2021 to February 28, 2022 was 3.4%.

  • Consolidated Working Capital Adjustment means, for any period of determination on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Financing Costs Adjustment Date means each of the following days:

  • Closing Adjustment has the meaning set forth in Section 2.04(a)(ii).

  • Working Capital Adjustment has the meaning set forth in Section 2.5(a).

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Pro Forma Disposal Adjustment means, for any Test Period that includes all or a portion of a fiscal quarter included in any Post-Transaction Period with respect to any Sold Entity or Business, the pro forma increase or decrease in Consolidated EBITDA projected by the Borrower in good faith as a result of contractual arrangements between the Borrower or any Restricted Subsidiary entered into with such Sold Entity or Business at the time of its disposal or within the Post-Transaction Period and which represent an increase or decrease in Consolidated EBITDA which is incremental to the Disposed EBITDA of such Sold Entity or Business for the most recent Test Period prior to its disposal.

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • True-Up Adjustment means any Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.

  • Annual Capital Expenditure Adjustment means, for any retail Property, an amount equal to the product of (a) $0.15 multiplied by (b) the aggregate net rentable area (determined on a square feet basis) of all such Properties.

  • Net Working Capital Adjustment Amount means an amount (which may be a positive or negative number) equal to (a) the Closing Date Net Working Capital minus (b) the Target Net Working Capital.

  • Working Capital Adjustment Amount means an amount, which may be positive or negative, calculated in accordance with Schedule C, equal to the difference of (a) the Closing Date Adjusted Working Capital minus (b) the Preliminary Adjusted Working Capital.

  • Additional Payment has the meaning given in clause 11.1 (Right to repay the Facility early).

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • Estimated Closing Cash has the meaning set forth in Section 2.4(a).

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Material Project EBITDA Adjustments means, with respect to each Material Project: