Pre-Lease Rent definition
Examples of Pre-Lease Rent in a sentence
Lessee will prepay the Pre-Lease Rent in respect of the Leased Property of each Pre-Lease Site for the entire Term as to such Pre-Lease Site on the Effective Date for each Pre-Lease Site.
Lessee agrees that, except pursuant to the terms of Sections 4(f) and 41 and any provision contained in the Agreement to Lease and Sublease that expressly provides for the same, the Rent and the Pre-Lease Rent are non-refundable and that Lessee will have no right of abatement, reduction, setoff, counterclaim, rescission, refund, defense or deduction with respect thereto.
All payments made pursuant to this Section 34 shall, to the fullest extent permitted by applicable Law, be treated for all Tax purposes (to the extent such treatment is consistent with the rent allocations made for purposes of Section 467 of the Code pursuant to Section 10 of this Agreement) as adjustments to the Rent and Pre-Lease Rent.
Neither Lessee nor Sprint Collocator will be entitled to any abatement, reduction, setoff, counterclaim, defense or deduction with respect to any Rent, Pre-Lease Rent, Sprint Collocation Charge, amount payable under Section 11(h) or other sum payable under this Agreement.
Notwithstanding that Rent and Pre-Lease Rent shall be payable in accordance with Section 10(a), and without limiting the Tower Operator’s obligations under Section 10(a), for federal income Tax purposes only, the Allocated Rent allocated pursuant to this Section 10(c) shall represent and be the amount of Rent or Pre-Lease Rent, as applicable, for which Tower Operator becomes liable on account of the use of each applicable Site for each calendar year, in whole or in part, of the Term.
Tower Operator shall pay, as and when due, Tower Operator’s Share of Transaction Revenue Sharing Payments that are required to be made in respect of the Rent and Pre-Lease Rent for all Sites.
Except as otherwise expressly provided in the Master Agreement, in the event of the expiration or termination of the Term as to any Site prior to its applicable Site Expiration Outside Date, and without limiting any of Tower Operator’s other rights or remedies hereunder or under the Master Agreement or any Collateral Agreement, Tower Operator shall have no right or claim to any refund or credit of any portion of the prepaid Rent or Pre-Lease Rent for any Site.
AT&T Lessors shall pay, as and when due, AT&T’s Share of Transaction Revenue Sharing Payments that are required to be made in respect of the Rent and Pre-Lease Rent for all Sites.
Pre-Lease Rent and Rent are intended to constitute “fixed rent” (as such term is defined in Treasury Regulation § 1.467-1(h)(3)).
Tower Operator agrees that the Rent and the Pre-Lease Rent are non-refundable and that Tower Operator shall have no right of abatement, reduction, setoff, counterclaim, rescission, recoupment, refund, defense or deduction with respect thereto, including in connection with any event of default by any AT&T Lessor, AT&T Collocator or their respective Affiliates or any casualty or condemnation except as otherwise expressly provided in this Agreement or the Master Agreement.