Pad Rent definition

Pad Rent means, with respect to any Pad on which a Home is located, all rents, rent equivalents, moneys payable as damages or in lieu of rent or rent equivalents, receivables, revenues, deposits (including, without limitation, security, utility and other deposits), accounts, cash, and other consideration of whatever form or nature received by or paid to or for the account of or benefit of Community Owner or its agents or employees by a Resident that is allocable to a Pad pursuant to a Pad Lease or an Existing Combined Lease or an Existing HAP Lease.
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Examples of Pad Rent in a sentence

  • On the Term Commencement Date and thereafter on the first day of each month during the Term, Tenant shall pay Landlord the monthly installment of Base Rent, Site Pad Rent and the monthly installment of Tenant’s Pro Rata Share of Total Operating Costs required by Section 4.02, in each case in advance.

  • In addition to the foregoing, Borrower shall cause each Community Owner to provide within fifteen (15) days of each calendar month, a certified rent roll which confirms the total amount of Pad Rent received pursuant to the Leases in which the Community Owner is the lessor and total amount of Home Rent remitted to the Borrower pursuant to the Leases in which the Community Owner is the lessor.

  • The failure by the parties to complete the process contemplated under this Section prior to commencement of the Extension Term shall not affect the continuation of the Term or the parties’ obligation to make any adjustments for any overpayments or underpayments for the Base Rent and Site Pad Rent due for the Extension Term promptly after the determination thereof is made.

  • For any part of the Extension Term during which the Base Rent and Site Pad Rent is in dispute or has otherwise not finally been determined, Tenant shall make payment on account of Base Rent and Site Pad Rent at the CPI Adjusted Base Rent and Site Pad Rent, and the parties shall adjust for any overpayments or underpayments upon the final determination of Base Rent and Site Pad Rent.