Minimum Annual Rent definition

Minimum Annual Rent shall have the meaning ascribed thereto in Section 4.1.

Minimum Annual Rent. $809,954.88 (Eight Hundred Nine Thousand Nine Hundred Fifty-four and 88/100 Dollars), payable in monthly installments of $67,496.24 (Six-seven Thousand Four Hundred Ninety-six and 24/100 Dollars), Increased as follows:

Minimum Annual Rent means the rental payable by Tenant for the use and occupancy of the Premises and is more specifically set forth in Section 1.9.

Examples of Minimum Annual Rent in a sentence

• Any failure on the part of Tenant to pay such Additional Rent when and as the same shall become due shall entitle Landlord to the remedies available to it for non-payment of Minimum Annual Rent.

• If, at the end of the Contract Year, the total of monthly percentage rental payments made (or due) during that Contract Year is less than the Minimum Annual Rent required for that Contract Year, the difference shall be remitted to State with the last monthly sales statement for the Contract Year.

• The Monthly Rental Installments shall be an amount equal to one-twelfth (1/12) of the Minimum Annual Rent for the Extension Term and shall be paid at the same time and in the same manner as provided in the Lease.

• Tenant acknowledges that the terms of this lease, including the Minimum Annual Rent, have been based on the understanding that Tenant physically shall occupy the Premises for the entire Term.

• Notwithstanding the foregoing, no mortgagee or ground lessor succeeding to the interest of Landlord hereunder (either in terms of ownership or possessory rights) shall be (a) liable for any previous act or omission of a prior landlord, (b) subject to any rental offsets or defenses against a prior landlord or (c) bound by any amendment of this lease made without its written consent, or by payment by Tenant of Minimum Annual Rent in advance in excess of one monthly installment.

More Definitions of Minimum Annual Rent

Minimum Annual Rent shall be as follows:

Minimum Annual Rent. $307,353.60 (Three hundred and seven thousand three hundred and fifty three and 60 /100 Dollars), payable in monthly installments of $25,612.80 (Twenty five thousand six hundred and twelve and 80 /100 Dollars), increased as follows: Lease Year Annual Monthly Lease Year Annual Monthly 2 $307,353.60 $25,612.80 6 $345,929.18 $28,827.43 3 $316,574.21 $26,381.18 7 $356,307.06 $29,692.25 4 $326,071.44 $27,172.62 9 $378,006.16 $31,500.51 5 $335,853.58 $27,987.80 10 $389,346.35 $32,445.53

Minimum Annual Rent. FOR EACH OF YEARS: ----------------- Year 1 $201,883.50 Year 2 $277,253.34 Year 3 $285,570.94 Year 4 $294,137.07 Year 5 $302,962.21 Year 6 $78,012.77

Minimum Annual Rent. (as defined in Section 4.1 of this Lease) which shall be due and payable during the first Renewal Term, if exercised by Tenant, shall be determined prior to the commencement of each applicable Renewal Term and shall be equal to three percent (3.0%) of the average of annual Gross Sales at the Premises for the two (2) Lease Years preceding the commencement of the applicable Renewal Term. Percentage Rent for the first Renewal Term shall be calculated in accordance with the terms of Section 4.2 of this Lease.

Minimum Annual Rent. (subject to adjustment in accordance with the provisions of Section 1.01(b) above): Year 1 $ 2,792,482.44 Year 2 $ 3,779,159.57 Year 3 $ 3,854,742.76 Year 4 $ 3,931,837.62 Year 5 $ 4,010,474.37 Year 6 $ 4,090,683.86 Year 7 $ 4,172,497.53 Year 8 $ 4,255,947.48 Year 9 $ 4,341,066.43 Year 10 $ 4,427,887.76 Year 11 $ 1,112,425.00

Minimum Annual Rent. The minimum annual rent ("Minimum Annual Rent") payable by Lessee to Lessor during the Second Renewal Term shall be Ninety Six Thousand Two Hundred Fifty and 00/100 Dollars ($96,250.00) per year, lawful money of the United States of America, payable in monthly installments in advance during the Second Renewal Term in sums of Eight Thousand Twenty and 83/100 Dollars ($8,020.83) on the first day of each month during the Second Renewal Term, commencing April 1, 2011." 3. Article 25 of the Lease is hereby deleted in its entirety and the following substituted therefor:

Minimum Annual Rent is defined in Section 3.2.1(a) below.