Percentage Rent Year definition

Percentage Rent Year means the one year period (or less, in the event IOC-Tunica changes its fiscal year), beginning with the first day of IOC-Tunica's fiscal year.
Sample 1
Percentage Rent Year means each calendar year that includes any part of the Term; provided however, that if the Commencement Date is any day other than January 1, then the first Percentage Rent Year shall be the period commencing on the Commencement Date and ending on December 31 immediately following the first Anniversary of the Commencement Date and provided further that the final Percentage Rent Year shall expire on the last day of the Term, whether or not occurring on the 31st of December.
Sample 1
Percentage Rent Year means, with respect to any Percentage Rent Lease, the applicable lease year or calendar year that is used as the measuring period under such Percentage Rent Lease for the computation of Percentage Rent.
Sample 1

Examples of Percentage Rent Year in a sentence

  • If Seller has received payments of Percentage Rent based on the Percentage Rent Year in which Closing occurs in excess of its respective share as calculated as set forth above in this Section 7.4.4, then Seller shall promptly pay such excess to Buyer.

  • If Seller has received payments of Percentage Rent based on the Percentage Rent Year in which Closing occurs below its respective share as calculated as set forth above in this Section 7.4.4, then Buyer shall promptly pay such deficiency to Seller.

  • Buyer shall, within thirty (30) days after receipt by Buyer from an Occupant of any Percentage Rent with respect to the Percentage Rent Year, remit to Seller funds such that Seller will have received that portion that is equal to the number of days that elapsed between the commencement date of the Percentage Rent Year for such Occupant and the Closing Date, over the total number of days in such Percentage Rent Year.

  • In the event that percentage rent shall be payable by Tenant for such Percentage Rent Year, it shall be paid by Tenant to the Landlord within thirty (30) days after receipt of Landlord’s statement.

  • Within thirty (30) days after the end of each Percentage Rent Year, Tenant shall deliver to Landlord a statement signed by an authorized representative of Tenant setting forth Tenant’s gross sales for such Percentage Rent Year.

  • In the event that Landlord fails to provide any such statement to Tenant within ninety (90) days after receipt of Tenant’s statement of gross sales, it shall be conclusively presumed that no percentage rent is due from Tenant for such Percentage Rent Year.

  • In the event that Tenant’s gross sales for such Percentage Rent Year exceeded the applicable Breakpoint Amount, Landlord shall, within thirty (30) days after receipt of such statement, deliver to Tenant a statement signed by an authorized representative of Landlord setting forth the gross sales of all occupants of the Building for such Percentage Rent Year and a calculation of the percentage rent, if any, payable by Landlord to Master Landlord for such Percentage Rent Year.

  • Landlord must exercise its audit rights (if at all) within two (2) years following the end of the Percentage Rent Year that Landlord desires to audit.

  • Tenant shall pay Percentage Rent (if any is due) within ninety (90) days following the end of each Percentage Rent Year.

  • Within (and in no event later than) one hundred eighty (180) days after the end of each Percentage Rent Year, and more frequently if Xxxxxx'x should reasonably believe that Tenant's reporting is not true and accurate, Xxxxxx'x shall be entitled to cause a certified public accounting firm designated by Xxxxxx'x to audit Tenant's books and records relevant to the calculation of Net Gaming Revenue reported by Tenant during the preceding Percentage Rent Year.


More Definitions of Percentage Rent Year

Percentage Rent Year for the Lisbon Cinema Lease Agreement means that period of time set forth in the respective Lease Agreement for purposes of calculating the Breakpoint and payments of Percentage Rent.
Sample 1
Percentage Rent Year for each of the Bloomsburg Lease Agreement, the Reading Lease Agreement, and the Selinsgrove Lease Agreement, respectively, means that period of time set forth in the respective Lease Agreement for purposes of calculating the Breakpoint and payments of Percentage Rent.
Sample 1
Percentage Rent Year as used in this Lease, shall be deemed to mean each 12-month period commencing with January 1 and ending with the following December 31 in which occurs any part of the term this Lease and, in the case of a Default Termination of this Lease, in which would have occurred any part of the full term of this Lease except for such Default Termination.
Sample 1

Related to Percentage Rent Year

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

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

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

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

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

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

  • Current year means the financial year, which has already commenced, but not yet ended;

  • relevant year means a year commencing at 00:00 hours on 1 April and ending at 23:59 hours on the following 31 March;

  • 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.

  • Assessment year means the period of twelve months commencing on the 1st day of April every year;

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

  • 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).

  • Expense Year means each calendar year in which any portion of the Lease Term falls, through and including the calendar year in which the Lease Term expires, provided that Landlord, upon notice to Tenant, may change the Expense Year from time to time to any other twelve (12) consecutive month period, and, in the event of any such change, Tenant’s Share of Direct Expenses shall be equitably adjusted for any Expense Year involved in any such change.

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

  • Agreement Year means each twelve (12) month period of the term of this Agreement beginning on the first day of the calendar year except for the “First Agreement Year” which shall mean the period commencing on the Effective Date and ending on December 31, 2003.

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

  • 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.

  • 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 Tax Year means the property tax levy year used

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • Annual Percentage Rate or “APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract.

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • 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.

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  • 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.