Lease Basis definition
Lease Basis means $167,654,254.20 as of the date of this Lease, as such amount shall be (a) increased from time to time in accordance with the express terms of this Lease or the Agreement Regarding Leases by the amount of any Capital Accretion Amounts or otherwise as expressly provided herein or therein, and (b) decreased from time to time by (i) the amount of any Awards in any Condemnation received by Landlord or received by any Facility Mortgagee and, in either case, not made available to Tenant to rebuild or restore such Facility, (ii) any insurance proceeds received by Landlord or any Facility Mortgagee as a result of a Casualty, and, in either case, not made available to Tenant to rebuild or restore the applicable Facility, and (iii) the amount of any payment made (other than in connection with any third party claims) by Alterra Healthcare Corporation under the indemnity provisions set forth in Article 8 of that certain Amended and Restated Stock Purchase Agreement dated as of October 19, 2004, between Alterra Healthcare Corporation and Provident Senior Living Trust, to the extent such payment relates specifically to one (1) or more of the Leased Properties demised pursuant to the terms of this Lease, or, if any such payment under said indemnification provisions relates to more than one (1) Leased Property or does not relate to any particular Leased Property (or Leased Properties), then the amount of any such indemnity payment shall be divided ratably across the Facilities (as defined in the Agreement Regarding Leases); provided, however, that during each Renewal Term, the Lease Basis shall mean, as determined in accordance with the provisions of Paragraph 3(b) of the Agreement Regarding Leases, an amount equal to the greater of: (x) the Lease Basis for the immediately preceding calendar month and (y) the sum of the Fair Market Values of each of the Leased Properties, as such amounts in clause (x) and clause (y) above shall be (A) increased from time to time in accordance with the terms of this Lease and the Agreement Regarding Leases by the amount of any Capital Accretion Amounts, and (B) decreased from time to time in connection with the receipt by Landlord of the items delineated in clauses (b)(i) through (iii) of this definition.
Lease Basis shall have the meaning ascribed thereto in the Lease Agreement.
Lease Basis means participation by a Party in the proportion that its undivided Working Interest in a lease or Exploratory Area bears to the entire Working Interest therein.
Examples of Lease Basis in a sentence
All Capital Addition Allowances made by Landlord shall be added to the Lease Basis on a dollar-for-dollar basis and the Base Rent shall be adjusted accordingly.
To the extent that Tenant requests that Landlord fund and Landlord agrees to fund such amounts in excess of one hundred and ten percent (110%) of the approved budgeted amount for any Improvement Project or Permitted Renovation, one hundred fifty percent (150%) of such excess amounts funded by Landlord shall be added to and become a part of Adjusted Lease Basis.
With respect to any Improvement Project or Permitted Renovation which Landlord agrees to fund, all such amounts shall be added to and become a part of the Adjusted Lease Basis, as more particularly described in Section 5.3 hereof.
Any surplus which may remain out of any Award after any required repayment of any applicable Facility Mortgage and any payment or reimbursement to Tenant of the cost of restoration or rebuilding shall be retained by Landlord, and the Lease Basis shall be reduced on a dollar-for-dollar basis by the amount so retained.
All Capital Addition Allowances made by Landlord shall be added to the Lease Basis on a dollar-for-dollar basis, and the Base Rent shall be adjusted accordingly.
More Definitions of Lease Basis
Lease Basis means $7,207,882.00.
Lease Basis means Landlord’s Initial Investment in the Leased Property plus any additional costs or expenses incurred by Landlord in connection with the Leased Property pursuant to this Agreement.
Lease Basis means the Initial Investment plus any additional expense or cost incurred by Landlord (but not including Landlord’s overhead costs) relative to the Leased Property pursuant to Sections 5.1.3(b), 5.1.3(c) (except as otherwise provided in Section 4.3.2), 10.2.3 or 11.2 hereof; provided, however, that in no event shall the deferred purchase price payment of Eight Million and No/100 Dollars ($8,000,000.00) to be paid by Landlord to Landlord’s predecessor in title in connection with the acquisition of the Lease Property be included as part of Lease Basis. Landlord shall provide Tenant with reasonable documentary evidence and supporting documentation relating to Landlord’s expenditures that comprise the Lease Basis, including future increases in the Lease Basis.
Lease Basis shall have the meaning given to it under the Property Leases.
Lease Basis means the Landlord’s Initial Investment in the Leased Property plus any additional costs or expenses incurred by Landlord in connection with the Leased Property pursuant to this Agreement (except to the extent that Tenant or any Affiliated Person of Tenant is obligated to reimburse Landlord or any Affiliated Person of Landlord, and Tenant or such Affiliated Person of Tenant does in fact reimburse Landlord or such Affiliated Person of Landlord, as the case may be, for such costs or expenses pursuant to the terms hereof, or the terms of any other agreement between Landlord, Tenant and/or any Affiliated Persons of Landlord or Tenant related to the Leased Property); provided, however, in no event shall the Lease Basis include any sum that is a component of and included in the “Lease Basis” as defined in the Real Property Lease.
Lease Basis means the Initial Investment plus any additional expense or cost incurred by Lessor (but not including Lessor’s overhead costs) relative to the Leased Property pursuant hereto; provided, however, that in no event shall the deferred purchase price payment of Eight Million and No/100 Dollars ($8,000,000.00) to be paid by Lessor to Lessor’s predecessor in title in connection with the acquisition of the Leased Property be included as part of Lease Basis. Lessor shall provide Lessee with reasonable documentary evidence and supporting documentation relating to Lessor’s expenditures that comprise the Lease Basis, including future increases in the Lease Basis.
Lease Basis means the Landlord’s Initial Investment in the Leased Property plus any additional costs or expenses incurred by Landlord in connection with the Leased Property pursuant to this Agreement, including, without limitation, pursuant to the provisions of Section 5.1.3(b), Section 10.2.3 or Section 11.2 hereof (except to the extent that Tenant or any Affiliated Person of Tenant is obligated to reimburse Landlord or any Affiliated Person of Landlord, and Tenant or such Affiliated Person of Tenant does in fact reimburse Landlord or such Affiliated Person of Landlord, as the case may be, for such costs or expenses pursuant to the terms hereof, or the terms of any other agreement between Landlord, Tenant and/or any Affiliated Persons of Landlord or Tenant related to the Leased Property); provided, however, in no event shall the Lease Basis include any sum that is a component of and included in the “Lease Basis” as defined in the Personal Property Lease. 1240817