Sales Breakpoint definition

Sales Breakpoint. $2,000,000.00 per annum from the Commencement Date through and including the expiration of the second (2nd) Lease Year; and $2,800,000.00 per annum for the Lease Years third (3rd) through fifth (5th)Lease Years; and $3,400,000.00 per annum for each Lease Year during the remainder of the Lease Term (prorated for any Partial Lease Year). Taxes: Calculated as set forth in Section 4.5.
Sample 1
Sales Breakpoint as set forth in Item 9 of the Data Sheet for each lease year or partial lease year of the lease term, which sum will be payable in equal monthly installments in advance on the first day of each calendar month of the lease term. Should one percent (1%) of Tenant's gross sales, as required to be reported following the end of each lease year or partial lease year pursuant to Article VI, above, be more than the total contribution to the Promotional Fund required by the above provisions of this section for such lease year or partial lease year, then Tenant will pay to Landlord, as additional rent an additional contribution sufficient to make Tenaxx'x xotal contributions to the Promotional Fund pursuant to this section 1 during such lease year or partial lease year equal to one percent (1%) of Tenant's gross sales during such lease year or partial lease year, which payment will accompany the statement of gross sales referred to above. In no event, however, shall Tenaxx'x xontribution for any lease year exceed $1.50 per square foot of gross leasable area of the Premises, adjusted as provided herein. For each lease year commencing after December 31, 1989, Tenaxx'x xontribution per square foot of gross leasable area of the Premises shall not exceed the amount derived by multiplying $1.50 by a fraction, the numerator of which is the "price index" (as defined in Article XXXIV, Section 15) for January of the calendar year during which such lease year begins, and the denominator of which is the price index for January, 1989. The failure of any other tenant to contribute to the Promotional Fund will not affect Tenant's obligations hereunder.
Sample 1

Examples of Sales Breakpoint in a sentence

  • Said payments of Percentage Rent shall be calculated by multiplying (i) the amount of the excess of year-to-date Gross Sales over the Year-to-Date Gross Sales Breakpoint, by (ii) the percentage specified in Section 1.15, and (iii) deducting therefrom the payments of Percentage Rent, if any, made by Tenant in the previous months of the Lease Year in question.

  • In addition to the Annual Rental, Additional Rent and other sums specified herein, Tenant shall pay percentage rent each year commencing in the month in which the annual Gross Sales Breakpoint is exceeded (hereinafter "Percentage Rental") calculated as a percentage of Tenant's "Gross Sales" (as that term is defined in Article VI) made from or upon the Premises during each calendar year or pro ration thereof.

  • If Tenant was not liable for Percentage Rental during said 12 month period prior to the name change, then there shall be no adjustment to Tenant's Annual Gross Sales Breakpoint.

  • In the event Tenant has not met the Gross Sales Breakpoint (as defined in Section 1.8 and adjusted per Section 5.3 each year of the Lease Term) required for the preceding (12) month period, then the option to extend is personal to Tenant and may not be exercised or be assigned, voluntarily or involuntarily, by or to any person or entity other than Tenant.

  • Percentage Rent shall be determined and payable monthly on or before the tenth (10th) day following the close of each and every full calendar month of the Term during which the amount of Tenant's year-to-date Gross Sales exceeds Tenant's year-to-date Gross Sales Breakpoint.

  • Tenant shall account for and pay Percentage Rental on any Gross Sales during any partial calendar month or partial calendar year at the beginning or end of the Lease Term in the same manner based on a pro rated Gross Sales Breakpoint calculated on the basis of the number of days in such partial calendar month or year divided by thirty (30) or three hundred sixty-five (365), as the case may be.

  • In addition to the payment of Minimum Rent, Tenant covenants and agrees to pay to Landlord, without notice or demand, at Landlord's Address for notice, an amount, if any, equal to the Percentage Rent Rate applied against that portion of Tenant's Adjusted Gross Sales during each Lease Year or Partial Lease Year in excess of the Sales Breakpoint for such period (hereinafter referred to as "Percentage Rent").

  • If Minimum Rent for any Lease Year or Partial Lease Year is reduced or abated for any reason, the Sales Breakpoint shall be reduced in direct proportion to the reduction or abatement of Minimum Rent for the period of time that such reduction or abatement of Minimum Rent is in effect.

  • If actual Store Floor Area is modified in accordance with Section 2.l, the Minimum Annual Rent (Break Points are not related to Minimum Rent or Store Floor Area) and the Sales Breakpoint shall be deemed automatically increased or decreased based upon the Store Floor Area as thus determined, and any overpayments or underpayments of Minimum Monthly Rent (Break Points are not related to Minimum Rent or Store Floor Area) and Percentage Rent to Landlord shall be adjusted accordingly.

  • If, after 180 days, this Lease is not terminated under Section 15.01, then for the duration of any period of use of the Premises by the requisitioning authority, all the terms and provisions of this Lease shall remain in full force and effect, except that the Minimum Rent and Sales Breakpoint shall be reduced in the same proportion that the leasable area of the Premises requisitioned bears to the total leasable area of the Premises.

Related to Sales Breakpoint

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Operating Revenue means amounts accrued or charge to customers, cli- ents, and tenants, for the sale of prod- ucts manufactured or purchased for re- sale, for services, and for rentals of property held primarily for leasing to others. It includes both reimbursable costs and fees under cost-type con- tracts and percentage-of-completion sales accruals except that it includesonly the fee for management contracts under which the contractor acts essen- tially as an agent of the Government in the erection or operation of Govern- ment-owned facilities. It excludes inci- dental interest, dividends, royalty, and rental income, and proceeds from the sale of assets used in the business.

  • Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property.

  • Gross Profits means the gross profits calculated under section 4;

  • CAISO Revenues means the credits, fees, payments, revenues, interest or similar benefits, including imbalance energy payments, that are directly assigned by the CAISO to the CAISO Global Resource ID for the Generating Facility for, or attributable to, Scheduling or deliveries from the Generating Facility under this Agreement.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Operating Revenues means, for any, period, the gross revenues arising from the ownership and operation of the Properties during such period, including proceeds of any business interruption or rental loss insurance and amounts released from reserves, but specifically excluding Capital Proceeds, Capital Contributions and proceeds of Indebtedness.

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Gross Sales means the sum total of all retail sales of tangible personal property or services as

  • Gross Sales Price with respect to each sale of Shares sold pursuant to this Agreement shall be the gross sales price per share of such Shares.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • NOPAT means cash adjusted net operating profits after taxes for the Plan Year, calculated as follows:

  • Sublicensing Revenue means all (i) cash, (ii) sublicensing fees and (iii) all other payments and the cash equivalent thereof, which are paid to LICENSEE by the Sublicensees of its rights hereunder, but excluding the following payments:

  • Total Revenues means revenues from all taxes and fees, excluding revenue from funds managed by local government on behalf of a specific third party, and does not include the proceeds from borrowing or asset sales.

  • Total Revenue bears the same meaning assigned to this expression in the Codes of Good Practice on Black Economic Empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act and promulgated in the Government Gazette on 9 February 2007;

  • Gross weight means the aggregate weight of a vehicle or combination of vehicles and the load

  • Cost Share means the member’s financial obligation for a covered service. Depending on the plan type, cost-share may include one or more of the following: deductible, copay, access fee, coinsurance, pharmacy deductible, and precertification charges.

  • Net Revenues means the difference between:

  • Year 2 means the year after year 1; year 3 means the year after year 2, year 4 means the year after year 3, and so on; and

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.