Rent Credits definition

Rent Credits means the Initial Rent Credits, Subsequent Rent Credits and the amount 4R would have had to, but was not required to pay as Rent during the period beginning on the Commencement Date and ending on the first day of the thirteenth week thereafter.

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Rent Credits means the amount of credit a Participating Class Member may use pursuant to the terms of this Agreement as a credit against the Rent to which the Club would otherwise be entitled.

Rent Credits means the Initial Rent Credits, Subsequent Rent Credits and the amount CBC would have had to, but was not required to pay as Rent during the period beginning on the Commencement Date and ending on the first day of the thirteenth week thereafter.

Examples of Rent Credits in a sentence

• As provided in Section 2.2 above, each year, the Stadium Authority will, subject to certain Performance-Based Rent Credits, pay to the City fifty percent (50%) of the Net Income from Non-NFL Events.

• Performance-Based Rent Credits listed in subparagraphs (1), (2) and (3) above, if not used within the year incurred or the next five (5) succeeding years, will expire and will not be included within Permitted Credits Carry-forward thereafter.

• As used herein, the “Permitted Credits Carry-forward” means the total amount, if any, of the Performance-Based Rent Credits listed in subparagraphs (1), (2) and (3) above that have not previously been applied in the calculation of Performance-Based Rent in the preceding five (5) years.

• Except as otherwise expressly set forth in this Lease, under no circumstances, whether now existing or hereafter arising, and whether or not beyond the present contemplation of the Parties shall Landlord be expected or required to incur any expense or make any payment of any kind with respect to this Lease or Tenant’s use or occupancy of the Premises, including any improvements, except for Rent Credits as provided in this Article 4.

• The Lessee agrees to keep records and file a report with the Lessor on December 31 of each year verifying the amount of the payments described above in this section and applicable Base Rent Credits.

• Any amounts remaining in the Costs of Issuance Account 30 days prior to the first Interest Payment Date shall be transferred to the Debt Service Fund as Basic Rent Credits.

• Basic Rent as payable under Section 3.1 of the Original Lease and Section 2.1 of the First Supplemental Lease shall be amended to provide funds sufficient to permit the Issuer to make all interest and principal payments on the Outstanding Series 2018 Bonds when due, as well as all other Bonds Outstanding under the Series 2018 Bond Resolution (less Basic Rent Credits and any other credits provided in the Series 2018 Bond Resolution).

• Provided that the foregoing provisions of subsection (2) have been satisfied, Tenant shall be entitled to the Improvement Rent Credits as described in subsection (4) below.

• Lessee agrees to require each sublessee and user of the Project under any lease or other use arrangement to maintain salary records sufficient to make an accurate calculation of the Base Rent Credits and compute the required Percentage Rent.

• In that connection, (i) base rents paid under Section 4.03(b) hereof, (ii) prepayments of base rent under Section 4.03(b), and (iii) amounts paid by the Sublessee pursuant to Section 2.02(h) hereof, shall be tabulated as paid and when such amounts, together with Base Rent Credits and Percentage Rent paid to the Lessor, result in a return of $7,500,000 plus 8% interest to the Lessor, the Lessor shall transfer the Project to the Lessee.