Percentage Rent Year definition

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.
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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.
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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.
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Examples of Percentage Rent Year in a sentence

  • If Seller has received payments of percentage rent based on any Percentage Rent Year in which the date of Closing occurs, in excess of Seller’s share as calculated as set forth above in this Section 5.4.1(c), it shall promptly pay such excess to Purchaser.

  • Carnegie Hall Tower ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: General Counsel Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ Solar Power, Inc.

  • If the Missouri Gaming Commission redetermines Net Gaming Revenue, Landlord shall automatically be entitled to additional Percentage Rent hereunder (or Tenant shall be entitled to a reduction of Percentage Rent) based upon such redetermination applicable to the Percentage Rent Year for which such Percentage Rent should have been paid.

  • 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.

  • 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.

  • If Seller has received payments of percentage rent based on any Percentage Rent Year in which the Closing Date occurs, in excess of Seller’s share as calculated as set forth above in this Section 6D(1)(d), it shall promptly pay such excess to Buyer.

  • If such an audit reveals that Tenant has understated its gross sales by more than three percent (3%) for any Percentage Rent Year, Tenant, in addition to paying the additional percentage rent due, shall pay the reasonable cost of the audit within thirty (30) days of Tenant’s receipt of Landlord’s demand for the same and copies of all bills or invoices on which such cost is based.

  • The first Applicable Percentage Rent Year for which Percentage Rent is payable shall be all of the calendar year in which the Commencement Date occurs notwithstanding that the Commencement Date may occur after the first day of such calendar year.

  • 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.

  • If a Seller has received payments of percentage rent based on any Percentage Rent Year in which the date of Closing occurs, in excess of such Seller’s share as calculated above, such Seller shall promptly pay such excess to Buyer.


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.
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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.
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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.
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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.

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