Rent Credit Amount definition

Rent Credit Amount has the meaning set forth in Section 4.6.

Rent Credit Amount means $450,000.00. Landlord shall have the right, at its option, to pay the Rent Credit Amount (or any portion thereof then remaining) in a lump sum to Tenant upon the occurrence of sale, financing or refinancing of the Building, and Tenant shall confirm receipt of the same in writing. Upon payment in full of the Rent Credit Amount (whether by application to Base Rent as provided herein or by lump sum payment), the provisions of this Section 4.6 shall be deemed satisfied.

Rent Credit Amount means an amount equal to the sum of the Advance Rent Payment Aggregate Amount and the Extension Payment Credit.

Examples of Rent Credit Amount in a sentence

• The Tenant shall provide in favor of the Landlord a Letter of Credit, in the amount of [***] (the “Tenant Security”); provided, that no such Tenant Security shall be required unless and until one hundred percent (100%) of the Rent Credit Amount has been applied in accordance with Section 4.1. Any Tenant Security provided pursuant to this Section 15.5 shall automatically expire on the earlier to occur of (i) FID and (ii) the fifth (5th) anniversary of the Ground Lease Commencement Date.

• The Landlord acknowledges and agrees that the Tenant shall be permitted to apply the Rent Credit Amount to satisfy, dollar-for-dollar, its payment obligations under this Section 4.1 until one hundred percent (100%) of the Rent Credit Amount has been so applied, whether under this Ground Lease or any other lease between the Landlord and the Tenant or its Affiliate.

More Definitions of Rent Credit Amount

Rent Credit Amount. (as defined in Section 13.3 hereof), said Rent Credit Amount may be offset against Base Rent payable commencing on the Commencement Date;