Minimum Guaranteed Rent definition

Minimum Guaranteed Rent. Tenant must pay to Landlord monthly a minimum amount equal to at least TWENTY-THREE THOUSAND AND NO/100 ($23,000.00) DOLLARS per month. Such

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Minimum Guaranteed Rent has the meaning ascribed to it in Section 2.4(c).

Minimum Guaranteed Rent. From the Rent Commencement Date through the First Lease Year as defined below in Section 1.8 the Minimum Guaranteed Rent shall be Six Hundred Eighty-two and 50/100 Dollars ($682.50) per month. Effective on January 1 of each subsequent Lease Year, the amount of Minimum Guaranteed Rent shall be increased by four percent (4%) as follows: January 1, 2001 through December 31, 2001 $709.80/Month January 1, 2002 through December 31, 2002 $738.19/Month

Examples of Minimum Guaranteed Rent in a sentence

Tenant's Minimum Guaranteed Rent includes its proportional share of the property insurance.
The term “Rental” as used in this Lease shall be deemed to refer to and include both Minimum Guaranteed Rent and Percentage Rent as well as any required payment designated as additional rent or rental.
If the Lease Commencement or Lease Termination is a date other than the first or last day of the month, then the Minimum Guaranteed Rent and all other payments provided for under this Lease for any such partial period shall be computed and pro-rated on a daily basis.
Subject to Section 4.7, the Tenant shall pay to the Landlord in and for each Lease Year, Minimum Guaranteed Rent in the amount per annum set out in Section 1.1(f) for the respective Lease Year by equal consecutive monthly instalments in the amount set out in Section 1.1(f) for such Lease Year.
Payment of Minimum Guaranteed Rent shall commence on the Minimum Rent Commencement Date and continue on the first day of each month thereafter.
If Tenant fails to provide Landlord with evidence of the inspection and maintenance of the heating, air conditioning and ventilation equipment as required hereinabove, Tenant shall pay to Landlord upon demand the same late charge fee assessed for late payment of Minimum Guaranteed Rent for each such failure.
The Tenant shall, upon signing this Lease deliver to the Landlord a letter of credit in the amount equal to XXXXX (which is equal to 3 months’ Minimum Guaranteed Rent) ⧫].
If Landlord receives two (2) or more checks from Tenant which are returned by Tenant’s bank for insufficient funds, Tenant agrees that all checks for Minimum Guaranteed Rent and all other sums due under the Lease thereafter shall be bank certified or cashier’s and that Landlord shall not be required to accept checks except in such form.
Payment of such liquidated damages (i) shall be in addition to Minimum Guaranteed Rent, additional rent and all other payments due from Tenant under the Lease and (ii) is intended to be only a partial and temporary remedy for Landlord during the continuance of such violation (and therefore shall not relieve Tenant of any obligation under the Lease, excuse any such default or waive Landlord’s other remedies therefor).
RENEWAL OPTION: Tenant shall have the right to renew this Lease for Two (2) additional term of Five (5) years each; such renewal term to commence immediately upon the expiration of the preceding term hereof and to be upon the same terms, covenants and conditions of this Lease effective during such preceding term, except that Minimum Guaranteed Rent shall be computed as hereinbelow provided.

More Definitions of Minimum Guaranteed Rent

Minimum Guaranteed Rent means the rent set out in Section 1.1(f) and payable in accordance with Article 4. Percentage Rent/Privilege Fee means the percentage rent/privilege fee calculated as provided for in Section 1.1(g) and Article 4.

Minimum Guaranteed Rent shall be an annual rent of $1,000,000 payable in twelve (12) equal monthly installments, prorated as to any partial month, commencing on the Minimum Rent Commencement Date and continuing on the first day of each month thereafter, increasing by fifteen percent (15%) on every fifth (5th) anniversary of the Minimum Rent Commencement Date.

Minimum Guaranteed Rent shall consist of the aggregate of “Fixed Minimum Guaranteed Rent” and “Enhancement Minimum Guaranteed Rent” as set forth below. Payment of Minimum Guaranteed Rent shall commence on the Minimum Rent Commencement Date and continue on the first day of each month thereafter.