Fixed Annual Rent. Defined in Section 5.1.
Fixed Annual Rent shall have the meaning set forth on Schedule “B” annexed hereto and by this reference made a part hereof.
Fixed Annual Rent. Fixed Rent" or "fixed annual rent" shall mean One Million Two-Hundred Thousand Dollars ($1,200,000.00) per annum for the period from the first anniversary of the Commencement Date through the second anniversary of the Commencement Date. Provided Tenant is not otherwise in default of the terms and conditions of this Lease, beyond applicable notice and grace periods, Fixed Annual Rent shall be abated for the period from the Commencement Date through the first anniversary of the Commencement Date (all additional rent (as hereinafter defined) shall remain due and payable). Thereafter, Fixed Annual Rent shall be adjusted on each anniversary of the Commencement Date beginning on the second anniversary of the Commencement Date through the tenth anniversary of the Commencement Date by multiplying the immediately preceding year's Fixed Annual Rent by a fraction, the numerator of which shall be the Consumer Price Index (as defined herein) in effect on the anniversary of the Commencement Date for the year in which Fixed Annual Rent is being adjusted and the denominator of which shall be the Consumer Price Index in effect on the immediately preceding anniversary of the Commencement Date, which escalation shall not exceed three (3) percent per annum. The increases in the Fixed Annual Rent set forth herein shall always be calculated upon, and added to, the prior year's Fixed Annual Rent.
Examples of Fixed Annual Rent in a sentence
Landlord may apply payments made by Tenant towards the payment of any item of Fixed Annual Rent and/or Additional Rent payable hereunder notwithstanding any designation by Tenant as to the items against which any such payment should be credited.
The term “Rent” as used in this Lease shall mean Fixed Annual Rent and Additional Rent.
Tenant shall pay all Fixed Annual Rent and Additional Rent due hereunder at the office of Landlord or such other place as Landlord may designate, payable in United States legal tender, by cash, or by good and sufficient check drawn on a New York City bank which is a member of the New York Clearing House or a successor thereto, and without any set off or deduction whatsoever.
If Tenant was provided electricity on a rent inclusion basis when it was so discontinued, then commencing when Tenant receives such direct service and as long as Tenant shall continue to receive such service, the Fixed Annual Rent payable under this Lease shall be reduced by the amount of the ERIF which was payable immediately prior to such discontinuance of electricity on a rent inclusion basis.
Any charges becoming due under this paragraph of this Lease shall be deemed to be additional rent due hereunder and shall become due with the next ensuing monthly payment of Fixed Annual Rent.
More Definitions of Fixed Annual Rent
Fixed Annual Rent shall include any annual rental increase determined pursuant to Section 3.2 hereof.
Fixed Annual Rent means $4,462,500.00.
Fixed Annual Rent means the rent which can reasonably be obtained for the dwelling as determined by the Minister;
Fixed Annual Rent. There is herein reserved to Landlord for the entire term of this lease fixed annual rent equal to the aggregate amount of the sums hereinafter set forth. Fixed annual rent shall be paid in advance as follows: Commencing on DECEMBER 1, 2003 and on the first day of each month thereafter throughout the term of this lease, Tenant shall pay to Landlord, without notice, deduction, set off or reduction (except as specifically set forth herein), monthly payments of fixed annual rent equal to one-twelfth (1/12th) of each of the following annual amounts (except that the first monthly installment of fixed annual rent is being paid upon the execution hereof):
(i) DECEMBER 1, 2003 through NOVEMBER 30, 2008 FOUR HUNDRED SEVEN THOUSAND SEVEN HUNDRED TWENTY EIGHT AND 66/100 DOLLARS ($407,728.66) per annum of which THIRTY EIGHT THOUSAND FOUR HUNDRED THIRTY SIX AND 66/100 ($38,436.66 per year) ($3,203.05 per month); represents the electric inclusion factor of the annual rent which shall be subject to adjustment as provided in article # 3 A hereof. If and so long as Tenant is not in default of any obligation on its part to be performed hereunder, Tenant shall receive a rent credit of NONE to be applied to NONE.
Fixed Annual Rent. (subject to the Credit, as set forth in Section 46C) shall be:
(i) With respect to the Office Space:
(1) from the Commencement Date through and including June 30, 2011, Two Million Three Hundred Eighty Thousand and 00/100 Dollars ($2,380,000.00) per annum ($198,333.33 per month);
(2) from July 1, 2011 through and including June 30, 2016, Two Million Six Hundred Sixty-six Thousand and 00/100 Dollars ($2,660,000.00) per annum ($221,666.67 per month); and
(3) from July 1, 2016 through and including the Expiration Date, Two Million Nine Hundred Forty Thousand and 00/100 Dollars ($2,940,000.00) per annum ($245,000.00 per month).
(ii) With respect to the Basement Space, from the Commencement Date through and including the Expiration Date, at a rate per annum equal to Ten Dollars ($10.00) per rentable square foot of Basement Space demised at such time.
Fixed Annual Rent. The Fixed Annual Rents as described in Section 7 and as shown on Exhibit “C” subject to adjustment based upon final as built square footage and any cost or Allowance adjustments as agreed herein.
Fixed Annual Rent occur in the Original Lease, they shall be deemed to refer respectively to Sublandlord, Subtenant, this Sublease, the Sublease Premises, the Commencement Date, the Sublease Term and Minimum Rent. Throughout the Sublease Term, Subtenant will observe and perform all of the provisions of the Overxxxxx xx the extent applicable to the Sublease Premises (except for the payment of Annual Fixed Rent and other matters expressly excluded hereunder) on the part of Sublandlord to be performed as tenant thereunder and will not do, or permit to be done in or about the Sublease Premises, any act, manner or thing which will be, result in, or constitute a violation or breach of or a default under the Overxxxxx (xxt only with respect to matters arising during the Sublease Term or while Subtenant is in occupancy of the Sublease Premises); any such violation, breach or default to constitute a breach by Subtenant of a substantial obligation under this Sublease. Subtenant hereby assumes the full, faithful and complete performance of the Overxxxxx xx the extent applicable to the Sublease Premises (but only with respect to matters arising during the Sublease Term or while Subtenant is in occupancy of the Sublease Premises) and, to the extent aforesaid, agrees that its occupancy shall be subject to, and that it will observe and perform, each and every term, covenant, provision, condition, agreement and obligation imposed upon Sublandlord in its capacity as tenant under the Overxxxxx xxxh respect to the Sublease Premises (but only with respect to matters arising during the Sublease Term or while Subtenant is in occupancy of the Sublease Premises), with the sole exception of provisions to the contrary herein contained. Subtenant hereby indemnifies and agrees to hold Sublandlord harmless from and against all claims, penalties, costs, losses and expenses, including, but not limited to, reasonable attorneys' fees, relocation expenses, rent differential expenses and obligations incurred by Sublandlord or owing to any other subtenant, assignee, or Overlandlord based upon any default by Subtenant or any sublessee or assignee of Subtenant in the performance of those terms, covenants and conditions of the Overxxxxx xxxch have been assumed by Subtenant (other than a payment default under the Overxxxxx) xxcept to the extent due to the wrongful acts or negligence of Sublandlord or of other sublessees or assignee of Sublandlord (other than Subtenant). Sublandlord hereby indemnifies and agrees t...