Projected Rent definition
Projected Rent. As defined in Section 44.1.8.
Projected Rent means, with respect to any Facility, all Rent that would be due hereunder with respect to such Facility per the terms of this Lease through the end of the applicable Term had this Lease not been terminated; and (iii) “Projected Adjusted EBITDAR” shall mean, with respect to any Facility, (A) for the first twelve (12) month period following the date of termination of this Lease, an amount equal to (1) the trailing twelve (12) month EBITDARM for such Facility, increased by [***], less (2) a deemed management fee allowance equal to [***] of the revenues used in calculating such EBITDARM (which revenues shall be based on the trailing twelve (12) month revenues used in calculating such EBITDARM, increased by [***]), less (3) a deemed capital expenditure allowance of [***] per unit, increased by [***] per annum starting in 2018, and (B) for each subsequent twelve (12) month period (through the remainder of the applicable Term), (1) the prior period’s EBITDARM, Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission. increased by [***], less (2) the prior period’s deemed management fee allowance, increased by [***], less (3) the prior period’s deemed capital expenditure allowance, increased by [***]. Projected Rent and Projected Adjusted EBITDAR shall be prorated as to any partial period (i.e., a period of less than twelve (12) months) at the end of the applicable Term. An example of the calculation of Lease Positive NPV is attached hereto as Exhibit G. For the avoidance of doubt, the failure of Guarantor to maintain such Net Debt to EBITDA Ratio as contemplated by this Section 44.1.8 shall not constitute a default hereunder or an “Event of Default”. If (x) Lessor exercises its right to split this Lease and enter into a New Lease, pursuant to Article XXXI, Section 35.5 or otherwise, in connection with a Separation Event, and (y) no Person which is not an Affiliate of Lessor owns the fee interest in the applicable Separated Properties covered under such New Lease or mortgage debt secured by a mortgage or deed of trust on such Separated Properties (or mezzanine debt secured by a pledge of direct or indirect equity interests in the owner of such fee interest), then Lessor may only exercise its termination right under this Section 44.1.8 if such New Lease is concurrently terminated with respect to the Separated Properties leased thereunder (i...
Projected Rent means, for any period of time, with respect to (A) any ▇▇▇▇▇ Qualified Lease or any ▇▇▇▇▇ Qualified Lease Commitment that provides for the use of the leased premises in question as a restaurant (but excluding any such leased premises that are located within a "food court"), the greater, of (1) the aggregate minimum (i.e. exclusive of percentage or additional) rent that is required to be paid by the tenant thereunder with respect to such period or (2) the sum of (a)(i) the product of $50 (or, with respect to any net rentable square foot of the leased premises that is or will be located on the first level of the Mall Improvements over which there will not be constructed, prior to the time that the Borrower delivers such leased premises to such tenant, a second level of Mall Improvements, $75) pro rated for the period in question based upon the ratio that the number of calendar months (or portions thereof) in such period bears to twelve (12) multiplied by (ii) the aggregate net rentable square footage of the leased premises that is or will be located on the first level of the Mall Improvements plus (b) the product of (i) $25 (pro rated as aforesaid) multiplied by (ii) the aggregate net rentable square footage of the leased premises that is or will be located on the second level of the Mall Improvements, (B) the Billboard Operating Lease, $945,000, pro rated as aforesaid, (C) the Madame ▇▇▇▇▇▇▇ ▇▇▇/Lease, $960,000 pro rated as aforesaid and (D) with respect to any other ▇▇▇▇▇ Qualified Lease or ▇▇▇▇▇ Qualified Lease Commitment, minimum (i.e. exclusive of percentage or additional) rent that is required to be paid by the tenant thereunder with respect to such period;
Examples of Projected Rent in a sentence
Projected Rent and Projected Adjusted EBITDAR shall be prorated as to any partial period (i.e., a period of less than twelve (12) months) at the end of the applicable Term.
The Kiosks which were included in the 1997 11 Year Cash Flow Projection dated November 15, 1996 (the "Projections") furnished to Chelsea shall be operating and paying an aggregate monthly rent as of April 1, 1997 of no less than $13,100 per month, which is the "Projected Rent" shown in the Projections.