Rent Reduction definition

Rent Reduction means the reduction in Monthly Rental set out in item 1.4;
Sample 1Sample 2Sample 3
Rent Reduction means, for any period, the total amount of (i) the Sales Tax Revenues remitted to the Metropolitan Government by the State and (ii) the Debt Service Portion of the Ticket Tax Revenues remitted to the Metropolitan Government by the Team.
Sample 1
Rent Reduction means the amount rents are reduced from the Rents Charged at the Market Interest Rate as a result of the OAHTC subsidy.
Sample 1

Examples of Rent Reduction in a sentence

  • The balance due to the Landlord after the Rent Reduction must be paid in full by the Tenant to the Landlord each Month during the term of this Agreement in accordance with the provisions of the Lease Agreement.

  • The Rent Reduction will be either the specific agreed upon amount or percentage set out in item 1.4, and such Rent Reduction may be deducted from the Rent payable by the Tenant.

  • Each month during the applicable Extension Term, Tenant shall deposit the Rent Reduction Amount into an escrowed reserve account (the “Improvement Removal Fund”).

  • StadiumCo shall timely pay to the Authority the Rent without demand, deduction, counterclaim, credit or set-off other than the Rent Reduction, at the Authority address provided for in this Lease or as otherwise specified by the Authority in writing in accordance with Section 20 below.

  • Lessee shall include with each monthly Gross Receipts report required to be delivered by Lessee pursuant to the first paragraph of Subsection 4.2.2 above, an accounting of all cumulative reductions in Percentage Rent applied to date under this Subsection 4.2.3 and the amount of any remaining unapplied Rent Reduction Amount.

  • During the period commencing on the Commencement Date until the later of (i) the end of the Term or (ii) the date the Bonds are fully paid pursuant to the terms of the Bond Indenture, StadiumCo shall pay to the Authority rent for each Lease Year (or post-Term time period) in an amount equal to the Bond Debt Expense for such Lease Year (or post-Term time period) less the Rent Reduction (the “Rent”).

  • Effective as of the date following the last day of the Rent Reduction Period, the Annual Minimum Rent shall be modified to equal the amount that is seventy five percent (75%) of the average of the total Annual Rent that would have been payable by Lessee to County during the three (3) year period immediately preceding such effective adjustment date, calculated without consideration of any reduction in the Percentage Rent during such period pursuant to Subsection 4.2.3 below.

  • As of the first January 1 that is at least three (3) years after the expiration of the Rent Reduction Period (the “First Adjustment Date”) and thereafter during the remainder of the Term, the Annual Minimum Rent shall be adjusted in accordance with the terms and provisions of Sections 4.3 and 4.4 below.

  • The Authority shall compute the amount of Rent Reduction on deposit in the Revenue Fund as of the date which is ninety (90) days prior to the Rent Payment Date which corresponds to a Bond Payment Date (Principal & Interest) and, based on such computation, provide written notification to StadiumCo at least sixty (60) days prior to each Rent Payment Date of the amount of Rent, if any, required to be paid by StadiumCo on the next Rent Payment Date after taking into account the amount of any Rent Reduction.

  • AND WHEREAS the Landlord and the Tenant wish to enter into this Rent Reduction Agreement to amend the Lease in accordance with CECRA program requirements.


More Definitions of Rent Reduction

Rent Reduction means, for any period, the amount of Tax Revenues and Non-Tax Revenues on deposit in the Revenue Fund.
Sample 1
Rent Reduction means as to any Renegotiated Lease, the present value of rent reductions provided in such Renegotiated Lease determined as of the closing date of such Renegotiated Lease using a discount rate of eight percent (8%).
Sample 1
Rent Reduction means the amount rents are reduced from the rents charged at the market interest rate as a result of the Oregon Affordable Housing Tax Credit (OAHTC)because of the OAHTC subsidy.¶
Sample 1
Rent Reduction. Notwithstanding anything contained in this Lease to the contrary, so long as Tenant is not in default, beyond any applicable notice and cure period, and is open, operating and engaging in the Exclusive Use (as defined herein), then if Landlord shall lease space in the Shopping Center to a Competing Business (defined below) for the Exclusive Use (as defined below) during the Term, then Tenant’s sole and exclusive remedy shall be the right to reduce its Fixed Minimum Rent, retroactive to the end of the sixty day period by twenty=fie percent (25%) for the period of time the Competing Business engages in the Exclusive Use. In addition, during such time, Percentage Rent shall continue to be payable in the amount by which five percent (5%) of Tenant’s Net Sales exceed the applicable Sales Base multiplied by 75%. This right shall be exercised upon sixty days prior written notice given to Landlord by Tenant. “Exclusive Use” shall mean a sit- down, family themed restaurant serving traditional “American” food ( by way of example Bennigan’s, TGI Fridays, Chili’s)offering a full menu and serves hard liquor. “Competing Business” shall mean a business not affiliated with Tenant which uses its premises in the Shopping Center primarily for the Exclusive Use, excluding:
Sample 1
Rent Reduction means the projected difference
Sample 1

Related to Rent Reduction

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • Relief Act Reduction With respect to any Mortgage Loan as to which there has been a reduction in the amount of the interest collectible thereon as a result of the application of the Servicemembers Civil Relief Act, any amount by which interest collectible on such Mortgage Loan for the Due Date in the related Due Period is less than the interest accrued thereon for the applicable one-month period at the Mortgage Interest Rate without giving effect to such reduction.

  • Proposed Reduction Date has the meaning set forth in Section 1.3.

  • Waste reduction , or “pollution prevention” means the practice of minimizing the generation of waste at the source and, when wastes cannot be prevented, utilizing environmentally sound on-site or off-site reuse and recycling. The term includes equipment or technology modifications, process or procedure modifications, product reformulation or redesign, and raw material substitutions. Waste treatment, control, management, and disposal are not considered pollution prevention, per the definitions under Part 143, Waste Minimization, of the Natural Resources and Environmental Protection Act (NREPA), 1994 PA 451, as amended.

  • Discount Range Prepayment Response Date has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Relief Act Reductions With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Relief Act, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.

  • Subordinate Reduction Amount With respect to any Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Recovery Principal for such Payment Date, less the Senior Reduction Amount.

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Partial Prepayment Amount means the amount required to prepay a portion of the Annual Special Tax obligation for an Assessor’s Parcel as described in Section H.

  • Sublease Payment means any payment required to be made by the District pursuant to Article 7 of this Sublease.

  • Reduction Date has the meaning set forth in Section 20.1B.

  • Appraisal Reduction Amount shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Substantial Change means a change to the terms of this Agreement that reduces your rights or increases your responsibilities.

  • FX Reduction Amount is defined in Section 2.1.3.

  • Reduction means measures designed to reduce or eliminate human exposure to lead-based paint hazards through methods including interim controls and abatement.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • Senior Reduction Amount With respect to any Payment Date is either:

  • Lease Payments means the rental payments described in Exhibit A hereto.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • alternative maximum council tax reduction means the amount determined in accordance with paragraph 31 and Schedule 4;

  • Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.