Land Lease Rent definition

Land Lease Rent in consideration of the Land Lease initially in the amount of Two Thousand Five Hundred Dollars ($2,500.00). Without reducing the Land Lease Rent, Lessee reserves the right to expand that portion of Assessor’s Parcel Number ▇▇▇-▇▇▇-▇▇ that is improved to provide parking for the Campus (and is not available for Lessee’s use), provided that Lessor shall not expand the subject improved parking area by more than one (1) acre. Accordingly the area of the Land Parcel generally available for Lessee’s actual use may be reduced by Lessor from approximately seven (7) acres to approximately six (6) acres. The monthly Land Lease Rent shall increase as provided in the following schedule. December 1, 2011 - November 30, 2012 $ 2,500 December 1, 2012 - November 30, 2013 $ 2,500 December 1, 2013 - November 30, 2014 $ 2,537.50 December 1, 2014 - November 30, 2015 $ 2,575.56 December 1, 2015 - November 30, 2016 $ 2,614.20 December 1, 2016 - June 30, 2017 $ 2,653.40 Subject to Lessor’s early termination right as described above, the term extension options applicable to the Lease shall also apply to the Land Lease. If Lessee exercises one or more extension option(s), the Land Lease Rent shall increase by one and 50/100 percent (1.50%) commencing with the first day of the option Term and each anniversary thereof. In addition to the Base Rent identified in Section 1.6(a) of the Lease and Security Deposit identified in Section 1.6(b) of the Lease, which are to be delivered to Lessor upon Lease execution, in consideration of the Land Lease, Lessee shall deliver to Lessor upon execution of this Lease a supplemental amount of $2,500 as Lessee’s initial payment of Rent for the first month of the Term and $2500 as a supplemental Security Deposit.
View Source

Examples of Land Lease Rent in a sentence

  • Buyer and Sellers acknowledge and agree that the each Master Lease is absolutely net to the applicable Lessor, and that each applicable Lessee is solely responsible for any and all Impositions, Land Lease Rent, insurance premiums, utility charges and other expenses incurred in connection with the operation, maintenance and use of the respective Property.

  • All accrued and unpaid Minimum Rent, Additional Rent, Land Lease Rent and any Additional Charges (whether or not billed) payable by the applicable Lessee under the applicable Master Lease with respect to the applicable Properties, through and including the day prior to Closing Date (prorated to the extent applicable for the month during which the Closing occurs).

  • Charges Payable to APGCL by Solar Power Developers selected by APGCL (70MWAC) Sl. No Description Charges 1 Annual Land Lease Rent per MWAC (with 5% escalation in every year) First Year Lease Rent Charge The Lease Rent Payable would be INR 81, 60,000 /- for the plot of 1020 Bighas for first year and shall be submitted before signing of SLA.

  • Without reducing the Land Lease Rent, Lessee reserves the right to expand that portion of Assessor’s Parcel Number ▇▇▇-▇▇▇-▇▇ that is improved to provide parking for the Campus (and is not available for Lessee’s use), provided that Lessor shall not expand the subject improved parking area by more than one (1) acre.

  • If Lessee exercises one or more extension option(s), the Land Lease Rent shall increase by one and 50/100 percent (1.50%) commencing with the first day of the option Term and each anniversary thereof.

  • Land Lease Rent and Building Rent are subject to the same terms and conditions unless specifically noted otherwise.

  • The monthly Land Lease Rent shall increase as provided in the following schedule.

  • Sl. No Description Charges 1 Annual Land Lease Rent per MWAC (with 5% escalation in every year) First Year Lease Rent Charge The Lease Rent Payable would be INR 81, 60,000 /- for the plot of 1020 Bighas for first year and shall be submitted before signing of SLA.

  • With respect to the Land Lease Facilities, Lessee ----------------- shall pay to Lessor land lease rent ("Land Lease Rent") in an amount equal to any payments made or to be made by Lessor to any lessor under a land lease relating to a Land Lease Facility as set forth in a notice by Lessor to Lessee that such payment is due.

  • Lessee shall also pay, where applicable, the amounts set forth hereinafter as Additional Rent and Land Lease Rent.