PAYMENT OF ADDITIONAL RENT definition

PAYMENT OF ADDITIONAL RENT. LESSEE shall pay LESSOR, on a monthly basis, in addition to Base Rent, the monthly installment of estimated Additional Rent as set forth by LESSOR. By March I of each LEASE year, LESSOR shall deliver to LESSEE a statement of the actual Additional Rent payable by LESSEE for the prior year. Any further Additional Rent amount due to LESSOR shall be paid by LESSEE, without prejudice to any written exception, within thirty (30) days following LESSOR's delivery of said statement. If the total Additional Rent payment received by LESSOR is greater than the actual Additional Rent due for the same period, LESSEE shall receive a credit in the amount of the overpayment against the next required payment of Additional Rent. Should a credit be due LESSEE at the termination of this LEASE, LESSOR shall remit payment to LESSEE within THIRTY (30) days of the LEASE termination date. It is estimated that the initial monthly contribution to be paid by LESSEE for the payment of Additional Rent shall be TWO THOUSAND ONE HUNDRED EIGHTY-SEVEN AND 50/100 DOLLARS ($2,187.50) (plus any applicable sales tax) per month based on $3.50 per square foot and 7,500 square feet of leasable area. This sum shall be adjusted on the Commencement Date based upon LESSEE'S Pro Rata Share and the actual square footage of the Premises. LESSEE shall have the right to examine LESSOR's books and records relating to the operation and maintenance of the Building during normal business hours to verify LESSOR'S annual statement of actual Additional Rent payable by LESSEE. The annual statement shall be certified as accurate by an officer of LESSOR and shall be prepared in accordance with good and sound accounting practices as consistently applied in the industry. In the event LESSEE elects to examine LESSOR's books and records and LESSEE discovers an error resulting in a decrease of at least three percent (3.0%) of the amount of Additional Rent charged to LESSEE during the annual period covered by LESSOR's statement, then LESSOR shall reimburse the reasonable out of pocket costs and expenses incurred by LESSEE in connection with LESSEE's review plus reimbursement of the overcharges with interest at the then existing prime rate plus one percent (1.0%). Similarly, in the event LESSEE's review of LESSOR'S books and records reveals less than a three percent (3.0%) error, LESSEE shall reimburse LESSOR for LESSOR'S reasonable out-of-pocket expenses incurred as a result of LESSEE'S review.
Sample 1

Examples of PAYMENT OF ADDITIONAL RENT in a sentence

  • THE ASSIGNOR AND ASSIGNEE NAMED IN SECTIONS 1 AND 2 OF THIS INSTRUMENT EACH ACKNOWLEDGE THAT THE LEASE MAY PROVIDE FOR THE PAYMENT OF ADDITIONAL RENT PERIODICALLY ON AN ESTIMATED BASIS (INCLUDING PROPERTY OPERATING EXPENSES) WITH ADJUSTMENT TO ACTUAL AMOUNTS DUE AS SPECIFIED IN THE LEASE.

  • LANDLORD SHALL HAVE THE SAME REMEDIES FOR A DEFAULT IN THE PAYMENT OF ADDITIONAL RENT AS FOR A DEFAULT IN THE PAYMENT OF ANNUAL BASE RENT.

  • THIS GUARANTY OF PAYMENT OF ADDITIONAL RENT (this "Guaranty") is made as of February, 2003, by SIEBEL SYSTEMS, INC., a Delaware corporation (the "Guarantor"), whose address is as set forth in Section 10 hereof, in favor of CROSSROADS ASSOCIATES AND CLOCKTOWER ASSOCIATES ("Landlord"), having an office at 0000 Xxxxx Xxxxx Xxxxxx, Xxxxx 000, Xxx Xxxxx, Xxxxxxxxxx 00000.

  • RENT 3 SECTION 3.01 BASE MONTHLY RENT 3 SECTION 3.02 ESCALATION 3 SECTION 3.03 TENANT’S SHARE OF LANDLORD’S EXPENSES 4 SECTION 3.04 REPORT OF COSTS AND STATEMENT OF ESTIMATED COSTS 4 SECTION 3.05 PAYMENT OF ADDITIONAL RENT 5 SECTION 3.06 TAXES 5 SECTION 3.07 PAYMENTS 5 ARTICLE IV.

Related to PAYMENT OF ADDITIONAL RENT

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

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

  • 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.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

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

  • Base Rent As defined in Section 3.1.

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

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

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • For Rent or "For Sale" thirty (30) days before the termination of this Lease. Landlord may enter the Premises at reasonable hours to exhibit same to prospective purchasers or tenants and to make repairs required of Landlord under the terms hereof, or to make repairs to Landlord's adjoining property, if any.

  • Past Due Rent Payment is defined in Section 2.2(g).

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.

  • Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.

  • Sublease Payment means any payment required to be made by the District pursuant to Article 7 of the Sublease.

  • 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).

  • Minimum Rent means Forty-Four Million Four Hundred Eleven Thousand Six Hundred Eighteen and 00/100ths Dollars ($44,411,618.00), subject to adjustment as provided in Section 3.1.1(b).

  • Rental Charges means the charges payable for renting the Vehicle from Us together with GST and any other taxes or levies which are all fully set out in the Rental Agreement.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

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

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Lease Payments means the rental payments described in Exhibit A hereto.

  • 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.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.