Free Rent Credit definition

Free Rent Credit means an amount determined in accordance with Section 1.7(a)(xii) of the Seller Disclosure Letter.
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Free Rent Credit has the meaning ascribed to such term on Exhibit P.
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Free Rent Credit means an amount determined in accordance with Schedule 10.11 attached hereto.
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Examples of Free Rent Credit in a sentence

  • ShermanVery truly yours,NextEra appreciates the opportunity to comment.

  • Purchaser shall receive a credit at Closing toward the Purchase Price in an amount equal to the Free Rent Credit calculated in accordance with Exhibit P.

  • Upon the mutual execution of this Lease Amendment, Lessor shall provide Lessee with a Free Rent Credit of $50,000.00.

  • If the Closing occurs on the Scheduled Closing Date, the Free Rent Credit would equal $378,769.

  • If the Seller delivers the Notice of Objection to the Buyer within the Review Period, the Buyer and the Seller shall, during the fifteen (15) days following such delivery or any mutually agreed extension thereof, use their commercially reasonable efforts to reach agreement on the disputed items and amounts in order to determine the amount of Closing Cash Reserve, Closing Company Indebtedness and Closing Free Rent Credit, as applicable.

  • Buyer Parent shall receive a credit from the Seller Parties at the Closing for the amount of the Free Rent Credit, without duplication of other amounts prorated hereunder.

  • Buyer shall receive a credit from Seller at the Closing for the amount of the Free Rent Credit, without duplication of other amounts prorated hereunder.

  • Xxxxxx P.C. and The Sleep Specialty Center, LLC, are entitled, as of the Close of Escrow, to a rental concession, including, without limitation, a rent abatement or free rent period (collectively, the “Free Rent Credit”) from and/or any time after the Close of Escrow, the Free Rent Credit shall be credited against the Purchase Price.

  • Such Free Rent Credit shall be funded to the next full month after Lease Amendment Execution, and as such Free Rent Credit exceeds the value of one month’s Base Monthly Rent, the balance of the Free Rent Credit shall be applied to the partial Base Monthly Rent of the second full month after Lease Amendment Execution.


More Definitions of Free Rent Credit

Free Rent Credit means a credit equal to (i) the actual free rent amount, or a reasonable approximation of such free rent amount, based on the anticipated rental payments to be made by Credit Tenants after their free rent period expires, as applicable, plus (ii) if Guarantor shall guarantee the free rent amount for non-Credit Tenants pursuant to the Free Rent Guaranty (as defined in the Side Letter), such guaranteed amount (which Free Rent Guaranty shall terminate upon the expiration of the free rent period of such non-Credit Tenants).
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Related to Free Rent Credit

  • Loan Year means each period of twelve (12) consecutive months commencing on the Closing Date and on each anniversary thereof.

  • 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

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • emission allowance means a financial instrument as defined in point (11) of Section C of Annex I of Directive [new MiFID].

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

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

  • Emission Reduction Credits or “ERC(s)” means emission reductions that have been authorized by a local air pollution control district pursuant to California Division 26 Air Resources; Health and Safety Code Sections 40709 and 40709.5, whereby such district has established a system by which all reductions in the emission of air contaminants that are to be used to offset certain future increases in the emission of air contaminants shall be banked prior to use to offset future increases in emissions.

  • Credit allowance date means with respect to any qualified equity investment:

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

  • Open Year has the meaning specified in Section 4.01(r)(iii).

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Collateral Release Period means, each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • 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.

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Maximum Applied Water Allowance (MAWA) means the upper limit of annual applied water for the established landscaped area as specified in Section 492.4. It is based upon the area's reference evapotranspiration, the ET Adjustment Factor, and the size of the landscape area. The Estimated Total Water Use shall not exceed the Maximum Applied Water Allowance. Special Landscape Areas, including recreation areas, areas permanently and solely dedicated to edible plants such as orchards and vegetable gardens, and areas irrigated with recycled water are subject to the MAWA with an ETAF not to exceed 1.0. MAWA = (ETo) (0.62) [(ETAF x LA) + ((1-ETAF) x SLA)]

  • Retirement allowance means the retirement payments to which a member is entitled.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Percentage Rent As defined in Subsection 3.1(b).

  • 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.

  • 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.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

  • Sublease Payment means any payment required to be made by the District pursuant to Section 7 of the Sublease.

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