Participation Rent definition

Participation Rent has the meaning ascribed to it in Section 2.4(d).

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Participation Rent shall have the meaning set forth in Section 3 of this Lease.

Participation Rent has ever been paid to the Agency to date – 1989 – 2013 nor is it anticipated during the term of the leases.]

Examples of Participation Rent in a sentence

• Tenant may assign the right to use said billboard to its designee, which assignment may be for consideration (which shall belong to and be retained by Tenant, but shall be subject to Participation Rent).

• If Landlord does not give Tenant notice of its intention to exercise its rights under this Section within one (1) year after the end of a calendar year with respect to which any Participation Rent is payable, it shall have no right to do so unless a subsequent examination of a later calendar year reveals an underpayment of Participation Rent in that calendar year.

• Tenant shall pay all sales, use, or similar taxes payable with respect to the Participation Rent.

• Landlord’s processing of any payment shall not be deemed acceptance of Tenant’s calculations of Participation Rent.

• If upon inspection or examination of the Records, Landlord determines that (a) Tenant has failed to maintain, preserve, or retain the Records in the manner set forth in this Section, or (b) the Records are insufficient to enable Landlord to verify the accuracy of the Participation Rent paid by Tenant for any calendar year being audited, Landlord shall give Tenant sixty (60) days to cure the deficiencies.

More Definitions of Participation Rent

Participation Rent as defined in Section 2.4.

Participation Rent means the Participation Rent in the Basic Lease Information and described further in Section 7.2.

Participation Rent. Participation Rent shall be paid and determined in the manner set forth in Sections 3.3(b) and (c) below, and Lessee shall also pay to Lessor, with each payment of Participation Rent, an amount equal to one-half of the applicable sales tax thereon.

Participation Rent shall have the meaning given to such term in Section 3.3 of this Lease. "Permitted Exceptions" means only: (1) the recorded title exceptions affecting the Fee Estate and prior to this Lease as of the Commencement Date, listed as exceptions in Tenant’s leasehold policy of title insurance for this Lease; (2) any title exceptions (including Subleases) caused by Tenant’s acts or omissions, consented to or requested by Tenant, or resulting from Tenant Default; (3) any Application made at Tenant’s request; (4) this Lease and its terms and provisions; (5) any state of facts an accurate survey or physical inspection would show, including any encroachments thereon or over any street or adjoining property; (6) the lien for all taxes, charges, rents, assessments, and any other governmental charges which are not yet due and payable; and (7) all Laws, zoning regulations, restrictions, rules and ordinances, and all building restrictions and other laws and regulations now in effect or hereafter adopted by any governmental authority having or acquiring jurisdiction; and, with respect to the Improvements, in their present state and condition and without representation or warranty of any kind by Landlord. Permitted Exceptions also include all rights, if any, for electricity, gas, telephone, water, cable television, and any other utilities to maintain and operate lines, cables, poles, and distribution boxes in, over, and upon the Premises, that are not within recorded easements or shown on the survey obtained by Tenant just prior to the Effective Date.

Participation Rent. With respect to each Unlicensed Project, an amount equal to 50% of the applicable Project Cash Flow after the payment of all operating expenses of the Project (including, without limitation, the fees under the terms of the Services Agreement and the Base Rent) other than the Participation Rent.

Participation Rent has the meaning ascribed in Section 2.4(b). Person means any corporation, unincorporated association or business, limited liability company, business trust, real estate investment trust, common law trust, or other trust, general partnership, limited partnership, limited liability limited partnership, limited liability partnership, joint venture, or two or more persons having a joint or common economic interest, nominee, or other entity, or any individual (or estate of such individual). Proposed New Tenant has the meaning ascribed in Section 5.5. Rent means all payments required pursuant to Section 2.4 (other than in Section 2.4(a) thereof)

Participation Rent means Participation Rent payable pursuant to Section 4.5 hereof.