Escalation Payments definition

Escalation Payments. A. For the purposes of this Article, the term "Escalation Year" shall mean the period from Commencement Date to and including the last day of the calendar month in which the day immediately preceding the first anniversary of the Commencement Date shall occur and each succeeding period of twelve (12)
View Source

Examples of Escalation Payments in a sentence

  • If the Commencement Date shall be other than the first day of a month or the expiration or sooner termination of the Term is other than the last day of a month, the monthly installments of Fixed Rent and Operating Expense Escalation Payments payable hereunder for any such months shall be prorated on a per diem basis based on the actual number of days in such month.

  • Landlord may adjust such Estimated Monthly Escalation Payments from time to time and at any time during a fiscal year, and Tenant shall pay, as additional rent, on the first day of each month following receipt of Landlord's notice thereof, the adjusted Estimated Monthly Escalation Payment.

  • Any reconciliation of Escalation Payments made by tenant on an estimated basis shall be made directly between Buyer and such tenant, and Seller and Buyer shall work cooperatively to allocate any such reconciliation between their respective periods of ownership.

  • Provided that no default has occurred and is continuing beyond any applicable notice and cure period, Subtenant shall not be required to pay Fixed Rent and Operating Expense Escalation Payments for the Premises during the following four (4) additional months: June 2008, December 2008, June 2009 and December 2009 at the then current Fixed Rent, which specific sums shall be deemed permanently abated and forgiven as of such dates.

  • Estimated Monthly Escalation Payments for each ensuing Fiscal Year shall be made retroactively from the first day of such Fiscal Year and on account of the payment to be made pursuant to the first sentence of this Section 4.2 for such Fiscal Year, with an appropriate additional payment or refund to be made at the time such payment is due for the previous year.

  • Landlord shall have the right to estimate in good faith and collect monthly in advance from Tenant the escalations of Base Operating Expense Amount owed or to be owed by Tenant, said monthly payments (the "Monthly Escalation Payments") to be in such amounts as are estimated in good faith by Landlord in its sole discretion.

  • If utilities, janitorial services or any other components of Operating Expenses increase during any Lease Year, Landlord may revise Monthly Escalation Payments due during such Lease Year by giving Tenant written notice to that effect; and thereafter, Tenant shall pay, in each of the remaining month of such Lease Year, a sum equal to the amount of the revised difference in Operating Expenses times Tenant’s Proportionate Share divided by the number of months remaining in such Lease Year.

  • If, as of the Closing, Seller has received additional Escalation Payments in excess of the amount that tenants will be required to pay, based on the actual operating expenses or other operating charges as of the Closing Buyer shall receive a credit at Closing in the amount of such excess.

  • Lessor shall have the right to estimate and collect monthly in advance from Lessee the escalations of Operating Cost owned or to be owned by Lessee under Section 7, said monthly payments (the "Monthly Escalation Payments") to be in such amounts as are estimated in good faith by Lessor in its sole discretion.

  • Section 32.5 In the event that the monthly rental amounts Guarantor must pay to Guarantor’s Present Lessor shall be modified on account of changes in the Escalation Payments, Guarantor shall advise Landlord and deliver to Landlord a copy of the rent ▇▇▇▇ from Guarantor’s Present Lessor evidencing such modification and the monthly installment of Takeover Rent to be paid by Landlord shall be adjusted to reflect such modification.

Related to Escalation Payments

  • Termination Payments has the meaning specified in Section 10(a).

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Passthru payments means any withholdable payment and any "foreign passthru payment," which is currently not defined. The current proposed FATCA regulations (“Proposed Regulations”) state that the Internal Revenue Service and the U.S. Treasury have determined, that withholding on “foreign passthru payments” is not required, pending further guidance and analysis. The Proposed Regulations provide that such withholding will not be effective before the date that is two years after the publication of final regulations defining the term “foreign pass-thru payment”.

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Rental Payments means the rental payments paid by the occupant of a unit, excluding any supplemental rental assistance to the occupant from the State, the federal government, or any other public agency, but including any mandatory fees or charges imposed on the occupant by the Owner as a condition of occupancy of the unit.