Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.
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).
Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.
Renewal Term has the meaning set forth in Section 2.
Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.
Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.
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.
Past Due Rent Payment is defined in Section 2.2(g).
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.
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.
Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.
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:
Extension Term means the time period defined in §2.C.
Additional Rental has the meaning set forth in Section 4.03.
Base Rent As defined in Section 3.1.
Extended Term shall have the meaning set forth in Section 2.
Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.
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.
Basic Rent means Basic Rent as defined in Paragraph 6.
Fixed Rent shall have the meaning set forth in Section 1.1 hereof.
Short-term rental means the provision of a room or space that is suitable or intended for occupancy for dwelling, sleeping, or lodging purposes, for a period of fewer than 30 consecutive days, in exchange for a charge for the occupancy.
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;
Annual Fixed Rent See Exhibit A, and Section 3.1.
Initial Term Loan shall have the meaning provided in Section 2.1(a).
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).
Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.