Delay rental definition

Delay rental means the annual minimum payment given to maintain a lease in the absence of production in commercial quantities during the primary term.
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Examples of Delay rental in a sentence

  • Delay rental payments shall be paid each year on or before the lease anniversary date, unless otherwise stated in the lease.

  • In light of the above, UNIDO embraced an innovative multi-stakeholder partnership model to promote inclusive and sustainable industrial development - the Programme for Country Partnership (PCP).

  • Delay rental is expressed in the lease as a number of dollars per acre.

  • Delay rental provisions were added to oil and gas leases in order to relieve the lessee of the obligation to immediately develop the property upon entering into an agreement.

  • Id.In an analogous decision, the Federal Circuit again held that summary judgment should not have been entered on the conception issue.

  • An adjustment is required for the amount of unsuccessful G & G costs expensed; Delay rental costs are capitalized for book and financial purposes; exploratory dry hole costs are capitalized for book and financial purposes.

  • Nonetheless, participating companies have to invest significant resources in terms of training and mentorship.

  • Delay rental payments negate the implied covenant to immediately develop; they do not serve to extend the primary term.Defendants' arguments and case law to the contrary have been considered and are rejected.

  • Delay rental payments are amounts paid to continue oil or gas leases when production activities are delayed.

  • Delay rental clauses are included in oil and gas leases because of the implied obligation to immediately develop the property or sufferforfeiture.

Related to Delay rental

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

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

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

  • Base Rent As defined in Section 3.1.

  • 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;

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

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

  • 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 Delay shall occur if either: (i) Landlord fails to complete the Base Building and/or other improvements on the Project that are required by the DDA, the Parking REA and/or the CC&Rs, and as a direct result of such failure Tenant is unable to obtain a temporary or permanent certificate of occupancy for the Premises upon substantial completion of the Tenant Improvements; or (ii) substantial completion of the Warm Shell Improvements or Tenant Improvements is delayed directly and solely as a result of any of the following and such delay could not have been mitigated by Tenant using commercially reasonable measures, which delay occurs after the Delivery Date and before the Commencement Date and does not result from Tenant's interference or delay in connection with completion of the Tenant Improvements or after a Tenant Default or Work Letter Draw Event: (a) subject to Paragraph 8 above, unreasonable interference by Landlord or Landlord's Contractor with the construction of the Warm Shell Improvements or the Tenant Improvements; (b) Landlord's failure to comply with any deadlines for response to, or submissions from, Tenant as required by this Work Letter; (c) any material Discretionary Changes to Landlord's Plans or the Warm Shell Plans after their final approval by applicable governmental entities (other than Tenant Modifications) that directly affect Tenant's Plans or the Tenant Improvements; and/or (d) Landlord failure to complete portions of the Base Building and/or other improvements on the Project that are Landlord's obligation to complete hereunder, and as a direct result of such failure Tenant and Tenant's contractors do not have access to the Premises to the extent required to complete the Warm Shell Improvements and/or Tenant Improvements. Tenant shall give Landlord at least five (5) days prior notice if Tenant becomes aware that Landlord is in danger of causing a Landlord Delay, and if Landlord takes appropriate measures to prevent such delay within such five (5) day period, no adjustment to the Commencement Date shall be made on account of such Landlord; provided, however, that if such delay was not reasonably foreseeable by Tenant, the five (5) day period for prior notice and opportunity to mitigate provided above shall be changed to forty-eight (48) hours after Tenant becomes aware of such delay or potential delay.

  • 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.

  • Lease or rental means the leasing or renting of tangible personal property and the possession or use

  • Annual Rent means the annual fixed rent to be paid to the Lessor by the Lessee under Section 5 of this Lease.

  • Room Rent means the amount charged by a hospital for the occupancy of a bed on per day (24 hours) basis and shall include associated medical expenses.

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;