Tenth Anniversary Date definition
Examples of Tenth Anniversary Date in a sentence
For each Lease Year after the first Lease Year commencing with the Common Tenth Anniversary Date, Minimum Rent shall increase based upon increases in the Extension Index preceding each Lease Year over the Extension Index preceding the previous Lease Year.
In the event Landlord elects to increase Minimum Rent based upon changes in the Index and so notifies Tenant, Minimum Rent for the first Lease Year commencing with the Common Tenth Anniversary Date shall be increased based upon increases in the Extension Index preceding the Common Tenth Anniversary Date over the Beginning Index.
By way of example only, if during the time period from the Eighth Anniversary Date through the Tenth Anniversary Date, Grantee has paid Compensation to Full Time Workers in the aggregate amount of Sixty Million Dollars ($60,000,000), Grantee would owe a Recapture Payment to the Authority in the amount of Twelve Million Dollars ($12,000,000) multiplied by 3.5%, equal to Four Hundred Twenty Thousand Dollars ($420,000).
Accordingly, for each Lease Year following the first Lease Year after the Common Tenth Anniversary Date, Minimum Rent in effect for the Lease Year preceding each such Lease Year shall be multiplied by a fraction the numerator of which is the Extension Index preceding such Lease Year and the denominator of which is the Extension Index preceding the Lease Year prior to such Lease Year.
The Recapture Payment for the Tenth Anniversary Date shall be determined by subtracting the amount of compensation actually paid to Full Time Workers from the Eighth Anniversary Date through the Tenth Anniversary Date from Seventy-Two Million Dollars ($72,000,000), and multiplying the difference by three and one half percent (3.5%).