Minimum Rent Adjustment definition

Minimum Rent Adjustment means the dollar amount which would be required to be paid on a monthly basis from the Minimum Rent Adjustment Effective Date in order to fully amortize the then current balance of the Loan allocated to this Lease (the “Fixed Component of the Minimum Rent Adjustment”), together with a monthly return at the rate stated in Section 2(a) of the Note (the “Return Component of the Minimum Rent Adjustment”), over a period of time until midnight on April 30, 2013.
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Minimum Rent Adjustment. Date shall mean, for the applicable Lease, each of the 5th, 10th, 15th, 20th, and 30th anniversary of the Commencement Date. Net Patient Revenues with respect to the Facilities located at the Collective Leased Properties shall mean the aggregate amount of all revenues (determined in accordance with GAAP, except as provided below) received or receivable from or by reason of the operation of such Facilities, or any other use of such Facilities, including without limitation all patient or client revenues received or receivable for the use of or otherwise by reason of all rooms, beds and other facilities provided, meals served, services performed or provided, space or facilities subleased or goods sold at such Facilities, including, without limitation, any other arrangements with third parties relating to the possession or use of any portion of such Facilities; provided, however, that Net Patient Revenues shall not include:
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Examples of Minimum Rent Adjustment in a sentence

  • Xxxx, shall not include any obligations relating to payment of the Minimum Rent Adjustment.

  • Each such monthly payment of Percentage Rent shall be reduced by one-twelfth (1/12) of the Additional Stabilized Annual Minimum Rent Adjustment applicable to the subject Lease Year.

  • Any sums paid upon or in respect of the Trust Interests upon the liquidation or dissolution of REO Subsidiary or any Trust Subsidiary or otherwise shall be paid over to the Buyer as additional security for the Obligations.

  • Beginning on the first day following the expiration of the Minimum Rent Adjustment Period, Minimum Rent under this License Agreement shall revert to $1,023,750.00, subject to three percent (3%) annul increases for each year during the Minimum Rent Adjustment Period.

  • Lender shall have delivered to Borrower amendments to the Leases on terms and conditions acceptable to Borrower and the Lessors under the Leases (i) modifying the financial covenants contained therein, (ii) modifying the purchase options contained therein and/or (iii) providing for the payment of the Minimum Rent Adjustment, as and when applicable (the “Lease Amendments”).

  • Notwithstanding anything to the contrary in the License Agreement, during the Minimum Rent Adjustment Period, Rent due and payable under the License Agreement shall be the greater of: (a) Adjusted Minimum Rent, and (b) Adjusted Percentage Rent.

  • The parties further agree that Schedule A will be adjusted in a commercially reasonable fashion to reflect the future termination , addition, or substitution of any Leases hereunder, including any Substitute Leases or New HRT Leases (as defined in Section 9.8 below),and that the full amount of the Minimum Rent Adjustment will be allocated among whatever Leases remain in effect from time to time, as contemplated above.

Related to Minimum Rent Adjustment

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.

  • 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.

  • 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

  • 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.

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

  • Base Year means the period set forth in Section 5 of the Summary.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

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

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

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • 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.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Direct Expenses means “Operating Expenses” and “Tax Expenses.”

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

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

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

  • Cost Share means the member’s financial obligation for a covered Service. Depending on the plan type, Cost Share may include one or more of the following: deductible, Copay, Access Fee, and Coinsurance.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • 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.

  • Net Adjustment Amount means an amount, which may be positive or negative, equal to the Closing Net Working Capital as finally determined pursuant to this Section 2.9 minus the Preliminary Net Working Capital as set forth on the Preliminary Closing Statement;

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • Annual Rent means the amount payable by Tenant to Landlord in respect of each year of the Term under Article 4.01.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.