Termination Rent definition

Termination Rent means an amount which, when added to the Stipulated Casualty Value and Basic Rent then payable by the Lessee, if any, will be sufficient to enable the Company to retire, at their respective maturities, all outstanding Notes and to pay all charges, premiums and fees owed to the Issuing Bank and all holders of Notes under the Credit Agreement and to pay all other obligations of the Company incurred in connection with the implementation of the transactions contemplated by the Basic Documents.
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Termination Rent means in relation to any date the amount calculated in respect of that date pursuant to paragraph 5.3;
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Termination Rent means an amount which, when added to the Stipulated Loss Value then payable by the Lessee pursuant to Section 20(b) or Section 25(b) hereof, as the case may be, will be sufficient to enable the Lessor (i) to retire, at their respective maturities, all of Lessor’s then outstanding obligations under (A) any Credit Agreement, including all Commercial Paper issued thereunder and all loans obtained thereunder and (B) any Secured Note Agreement, including all Secured Notes issued pursuant thereto, and (ii) to pay all charges, premiums and fees owed to any lender under a Credit Agreement or Secured Note Agreement or to the Assignee.
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Examples of Termination Rent in a sentence

  • In the event Tenant elects to pay the Termination Rent in installments, then the amount thereof shall be calculated without using the present value adjustment.

  • Accordingly and without limiting the generality of the foregoing, to the extent that the amount of any Rent exceeds the Rent Limit or the amount of any Termination Rent exceeds the Termination Limit each of PPC and Bluewater Energy shall be obliged to make payment of the relevant excess in full and the Lessor shall have full recourse to each of PPC and Bluewater Energy and to their respective assets to the extent that such payment is not made.

  • If the Early Termination Rent Obligation has been paid in full within such 30-day period, then Landlord shall execute and deliver to the person entitled thereto, a deed reconveying title to the Premises (including all improvements constituting a part thereof) to Tenant, the Leasehold Mortgagee or Tenant’s successor by Foreclosure, as applicable, and Landlord shall comply with the obligations under Article 31.

  • Any contrary provisions of this Lease notwithstanding, on the last day of the term of this Lease or upon any termination of this Lease, whether under Article 15 above or otherwise, if the Early Termination Rent Obligation has been paid, then Landlord shall reconvey title to the Premises (including all improvements constituting a part thereof) to Tenant or Tenant’s successor by Foreclosure as set forth in Section 33 below.

  • If Landlord elects to terminate this Lease, then Landlord shall be entitled solely to recover from Tenant the Early Termination Rent Obligation, plus interest on any past due rent or other monetary payments past due hereunder at the rate of 10% per annum, plus any other direct damages incurred by Landlord that are proximately caused by Tenant's failure to perform its obligations under this Lease;.

  • If Landlord provides the Termination Rent Statement to Tenant later than as set forth above, then Tenant's failure to pay the amount set forth in the Termination Rent Statement before the Termination Date shall not extend the termination of this Lease pursuant to this paragraph beyond the Termination Date, but Tenant shall nevertheless be required to pay the amount set forth in the Termination Rent Statement within thirty (30) days of receipt thereof.

  • Accordingly and without limiting the generality of the foregoing, to the extent that the amount of any instalment of Primary Period Rent exceeds the Rent Limit or the amount of any Termination Rent exceeds the Termination Limit the Lessee shall be obliged to make payment of the relevant excess in full and the Lessor shall have full recourse to the Lessee and to its assets to the extent that such payment is not made.

  • If Landlord has not delivered to Tenant the Termination Rent Statement and/or the Post Termination Statement by the end of the Post Termination Period, Landlord shall have no further right to make any claim for payment of any sums payable by Tenant to Landlord pursuant to this Lease other than the Fee, if any, and the sums set forth in whichever Statement, if any, that has been delivered to Tenant by the end of the Post Termination Period.

  • On the Settlement Date (time being of the essence), Lessee shall be obligated to pay or cause to be paid to Lessor as the purchase price for Nuclear Fuel an amount equal to the sum of (i) the Stipulated Loss Value of the Nuclear Fuel as of the Settlement Date plus (ii) the Termination Rent, if any, on the Settlement Date.

  • The Acceleration Rent shall be subject to adjustment in accordance with Part 4 of the Financial Schedule as if it were a Termination Rent.


More Definitions of Termination Rent

Termination Rent means an amount which, when added to the Stipulated Loss Value then payable by Lessee pursuant to Section 17(d) or Section 19(b) of the Fuel Lease, as the case may be, together with funds available to Lessor from the Collateral Account, will be sufficient to enable Lessor (i) to retire, at their respective maturities, all of Lessor’s then outstanding obligations under (A) all Note Purchase Agreements, including all Notes issued pursuant thereto, and (ii) to pay all charges, premiums and fees owed to all holders of Notes under the Note Purchase Agreements applicable thereto and to any Assignees thereof.
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Termination Rent means an amount which, when added to the amounts specified in subclauses (i) and (ii) of clause (y) of the second sentence of Section 19(b), in the case of Section 19(b), or added to the amounts specified in subclauses (i) and (ii) of clause (x) of Section 24(b)(ii)(B), in the case of Section 24(b)(ii)(B), will be sufficient to enable the Lessor (i) to retire, pursuant to the terms of the Basic Documents, all of the Lessor's then outstanding obligations under (A) all Note Purchase Agreements, including all IT Notes issued pursuant thereto, (B) the Credit Agreement, including all notes issued thereunder to Banks, and (C) all Commercial Paper, (ii) to pay all charges, premiums and fees owed to all holders of IT Notes under the Note Purchase Agreements applicable thereto and the Banks under the Credit Agreement and (iii) to pay all other obligations of the Lessor incurred in connection with the implementation of the transactions contemplated by the Basic Documents.
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Related to Termination Rent

  • Vacation rental means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Market Rent means the Base Rent for the Demised Premises at the time in question which Landlord sets forth in a notice (hereinafter referred to as the "Market Rent Notice") to Tenant. No later than thirty (30) days after Tenant may exercise Tenant's option to extend this Lease for the Renewal Term, Landlord shall send the Market Rent Notice to Tenant for said Renewal Term and shall specify in the Market Rent Notice for the period contained in the Renewal Term as applicable. In the event that Tenant shall, in good faith, disagree with the Market Rent set forth in the Market Rent Notice established by Landlord for the Demised Premises, Tenant shall, within ten (10) days after receipt of the Market Rent Notice, furnish Landlord with a written explanation in reasonable detail of the basis for Tenant's good faith disagreement, the amount which, in Tenant's good faith opinion, is the Market Rent for the period contained in the Renewal Term (hereinafter referred to as the "Tenant's Notice"). If Tenant's Notice is not received by Landlord within said ten (10) day period, the Market Rent shall be the Market Rent set forth in the Market Rent Notice to Tenant. If Tenant's notice is received by Landlord within said ten (10) day period, the Market Rent for the Demised Premises shall be established as follows: (i) No later than twenty (20) days following the receipt of the Market Rent Notice from Landlord, Tenant shall select an individual as an appraiser of its choice and give Landlord written notice of such appraiser's name, address and telephone number. (ii) Within ten (10) days after receipt of such notice by Landlord, Landlord shall select an appraiser of its choice and give Tenant written notice of such appraiser's name, address and telephone number. (iii) The two appraisers so selected by Landlord and Tenant shall then select an individual as a third appraiser within fifteen (15) days after receipt by Tenant of Landlord's notification as to its selection of an appraiser, and furnish Landlord and Tenant written notice of such appraiser's name, address and telephone number. (iv) All appraisers selected pursuant to this provision shall be M.A.I. appraisers, unless Landlord and Tenant shall otherwise agree in writing, each having at least ten (10) years experience with commercial property in the state of the location of the Demised Premises. Each of the three (3) selected appraisers shall then determine the fair rental value of the Demised Premises for each applicable period of the Renewal Term and the Market Rent hereunder for each Renewal Term, as applicable, shall be determined to be the average of the three (3) appraisals for each such years.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • Lease Termination Date means the last day of the Lease Term.

  • Termination Charges means any compensatory charges payable by the Customer to BT on termination of this Agreement in whole or in part or a Service as set out in a Schedule or Order.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Minimum Rent means the sum of Thirty-Three Million, Six Hundred Seventy-Nine Thousand, Seven Hundred Sixteen and 55/100 Dollars ($33,679,716.55) per annum.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Fair Market Rent for the Subject Leased Property means for any Renewal Term shall mean an amount determined as follows: Landlord shall designate an independent MAI appraiser to determine the Fair Market Rent of the Subject Leased Property for the applicable Renewal Term within twenty (20) days after Tenant’s notice of its exercise of the applicable renewal option. Within thirty (30) days after selection of Landlord’s appraiser, Landlord shall notify Tenant of the determination made by Landlord’s appraiser with respect to the Fair Market Rent. Tenant shall then have ten (10) days to dispute such determination and to select its own independent MAI appraiser. In the event that Tenant fails to select its appraiser within such ten (10) day period, the determination of Landlord’s appraiser shall constitute such Fair Market Rent. Within ten (10) days after selection of Tenant’s appraiser, the two appraisers shall meet and attempt to agree as to the Fair Market Rent for the Subject Leased Property for the Renewal Term in question. In the event that such appraisers are unable to agree as to such Fair Market Rent then: (i) if the difference between the two determinations is less than five percent (5%) of the lower determination, then the average of the two determinations shall be deemed to constitute such Fair Market Rent; or (ii) if the difference between the two determinations is equal to or greater than five percent (5%) of the lower determination, then the two appraisers shall jointly select a third independent MAI appraiser, which appraiser shall select which of the determinations of the first two appraisers shall constitute such Fair Market Rent. Such third appraiser shall not have the right to vary or modify the determinations of the appraisers selected by Landlord and Tenant. Any appraiser selected pursuant to this paragraph must have at least ten (10) years experience in appraising commercial real estate in the area in which the Subject Leased Property is located. The appraisers shall not have the right to amend, modify or vary any of the terms of this Lease and the determination of the appraisers in accordance with this paragraph shall be final, binding and conclusive upon Landlord and Tenant. ]

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

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

  • Landlord’s Statement means an instrument or instruments containing a comparison of any increase or decrease in the Rent for the preceding Comparison Year pursuant to the provisions of this Article 28.