Rent Payment definition
Examples of Rent Payment in a sentence
A portion of each Basic Rent Payment is paid as, and represents payment of, interest as set forth on Exhibit A hereto (said interest to be attributable to the various Principal Portions in accordance with the per annum rates set forth on Exhibit A).
If the Rent is increased as a result of an increase in the final Acreage as set forth in the Survey, Tenant shall make a one- time payment to Landlord on the next Rent Payment Date equal to the difference between (i) the amount of Rent which would have been payable during the Interim Rent Period if computed based on the final Acreage set forth in the Survey, minus (ii) the amount of Rent actually paid during the Interim Rent Period.
Second, Lessor shall transfer the amount of all Rent due and owing on such Rent Payment Date to Lessor.
Third, if the Minimum Balance Requirement is not met as of such Rent Payment Date, Lessor shall transfer to the Minimum Monthly Reserve Account the amount necessary to meet the Minimum Balance Requirement.
Rights and Responsibilities of Commercial Tenants The CAR Commercial Lease Agreement also outlines the rights and responsibilities of commercial tenants, including: a) Rent Payment: Tenants are responsible for paying rent on time and in accordance with the agreed-upon terms.