Default Rent definition

Default Rent has the meaning set forth in §8.6.
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Default Rent for the purposes of this Section 12.2 shall be a sum equal to (A) the average of the annual amounts of the Percentage Rent for the three Fiscal Years immediately preceding the Fiscal Year in which the termination, re-entry, or repossession takes place, or (B) if three Fiscal Years shall not have elapsed, the average of the Percentage Rent during the preceding Fiscal Years during which this Lease was in effect, or (C) if one Fiscal Year has not elapsed, the amount derived by annualizing the Percentage Rent from the Commencement Date.
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Default Rent means Default Rent as that term is defined in Section 3(d) hereof.
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Examples of Default Rent in a sentence

  • On the Final Disbursement Date, absent an uncured Default, Rent shall be adjusted and documented by the lease amendment contemplated in Article IX hereof and paid to Lessor as described in Article F.

  • Tenant shall reimburse Landlord on demand, as Additional Rent, for any expenditures thus incurred by Landlord and shall pay interest thereon at the rate for Default Rent set forth herein.

  • On the Final Disbursement Date, absent an Uncured Default, Rent shall be adjusted and documented by the lease amendment contemplated in Article IX hereof and paid to Lessor as described in Article F.

  • Page 14 23.1 Defined Events of Default....................................Page 14 23.2 Remedies.....................................................Page 15 23.3 Non-Waiver and Cumulation of Remedies........................Page 16 23.4 Default Rent Computation.....................................Page 16 23.5 Landlord's Right to Cure Defaults............................Page 17 23.6 Attorneys' Fees..............................................Page 17 24.

  • All three summaries contained directions for services to be considered for daily maintenance of positive improvement in behavioral, emotional, and social skills made by the youth during treatment.

  • If Tenant continues after the expiration of the Term or earlier termination of this Lease to hold and occupy the Leased Property whether as a month-to-month tenant or a tenant at sufferance or otherwise, Tenant shall pay [i] Default Rent for each month, plus [ii] all Additional Rent accruing during the month, plus [iii] any and all other sums payable by Tenant pursuant to this Lease.

  • On the Final Disbursement Date, absent an uncured Default, Rent shall be adjusted and documented by the lease amendment contemplated in ARTICLE IX hereof and paid to Lessor as described in ARTICLE F.

  • On the Final Disbursement Date, absent an Uncured Default, Rent shall be adjusted as set forth in Article IV of the Lease and documented by the First Lease Amendment contemplated in Article IX hereof.

  • On the Final Disbursement Date, absent an Uncured Default, Rent shall be adjusted and documented by the lease amendment contemplated in ARTICLE IX hereof.

  • The preceding presumes that Tenant has surrendered the Premises and is in possession only of the Relocation Premises, however should Tenant fail to vacate as contemplated hereunder, in that situation only at the time of an Event of Default, Rent, Additional Rent, and such other sums shall be calculated as to both the Premises and the Relocation Premises.


More Definitions of Default Rent

Default Rent means the difference (but not below 0) between 1. [***]235; and
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Default Rent means the difference (but not below 0) between 1. The sum of (x) Rent due for the balance of the then remaining Term (but not including any Renewal Term(s) to the extent that such Renewal Term(s) have not yet commenced), discounted to present value at the rate of 6.0%, 24 plus, (y) an amount equal to the sums actually incurred or reasonably estimated to be incurred by Landlord in putting the Premises (or any portion thereof) in good order or preparing the same for re-rental, including brokerage and advertising fees, plus (z) reasonable attorneys’ fees and expenses actually incurred by Landlord in the enforcement of this Lease or in defending any claim brought against Landlord by Tenant against which Xxxxxxxx successfully defends; and 2. FMRV for the balance of the then remaining Term (but not including any Renewal Term(s) to the extent that such Renewal Term(s) have not yet commenced), discounted to present value at the rate of 6.0%. Notwithstanding the sole and exclusive calculation of damages for lost Rent set forth in this Section 21(c), the foregoing limitation of remedies is without prejudice to Landlord’s right to enforce Tenant’s other obligations under this Lease with respect to claims, damages and liabilities (other than Fixed Annual Rent and additional rent) resulting to Landlord by or through Tenant’s use and operation of the Premises, and is without prejudice to Landlord’s right to enforce those provisions set forth in Section 21(a) and (b) herein. Landlord and Tenant agree that such damages amounts described in this Section 21(c) constitute a good faith reasonable estimate of the damages for lost Rent that may be suffered by Landlord upon the occurrence of an Event of Default, and that it is impossible to estimate more precisely such damages. Xxxxxxxx’s receipt of the damages calculated as described in this Section 21(c) is intended not as a penalty but as full liquidated damages for lost Rent. For avoidance of doubt, the pursuit by Xxxxxxxx of the remedies set forth in this Section 21 shall be exclusive with respect to lost Rent, and Landlord shall not thereafter pursue any other remedies at law or in equity against Tenant with respect to lost Rent. Except as provided in this Section 21, (x) all remedies are cumulative and concurrent and no remedy is exclusive of any other remedy; (y) each remedy may be exercised at any time an Event of Default has occurred and may be exercised from time to time; and (z) no remedy shall be exhausted by any ex...
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Related to Default Rent

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Landlord Default shall have the meaning given such term in Article 14.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Default Costs means reasonable attorney's fees and remarketing costs resulting from a Lessee default or Lessor's enforcement of its remedies. DELIVERY DATE - means date of delivery of Inventory Equipment to Lessee's address.

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Prime Rate.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Minimum Rent means the sum of Thirty-Three Million, Six Hundred Seventy-Nine Thousand, Seven Hundred Sixteen and 55/100 Dollars ($33,679,716.55) per annum.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Past Due Rent Payment is defined in Section 2.2(g).

  • Annual Rent means the amount payable by Tenant to Landlord in respect of each year of the Term under Article 4.01.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • To rent means to lease, to sublease, to let, or otherwise to grant for consideration the right to

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Prepaid Rent means any payment of money to the landlord for a rent obligation not yet

  • Net Default Charges With respect to any Mortgage Loan, Serviced Loan Combination or successor REO Mortgage Loan, the Default Charges referred to in clause third of Section 3.25(a) or clause fourth of Section 3.25(c), which are payable to the applicable Master Servicer as Additional Master Servicing Compensation or the applicable Special Servicer as Additional Special Servicing Compensation.

  • Default Rate means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans plus (c) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, in each case to the fullest extent permitted by applicable Laws.