Basic Rent General Provisions Clause Samples
The Basic Rent General Provisions clause defines the fundamental terms and conditions governing the payment of rent under a lease agreement. It typically outlines the amount of rent due, the frequency and method of payment, and any adjustments or escalations that may apply over the lease term. By clearly establishing these payment parameters, the clause ensures both parties understand their financial obligations and helps prevent disputes related to rent payments.
POPULAR SAMPLE Copied 1 times
Basic Rent General Provisions. Each payment of Basic Rent under this Section, due on an interest or principal payment date or redemption date until the Bonds are fully paid shall in all events be sufficient to pay the total amount of interest, principal, redemption requirement, and premium, if any, payable on the Bonds on the principal or interest payment date or on the redemption date. Any payment of Basic Rent not received by the Bondholder when due shall continue as an obligation of the Lessee until paid and shall bear interest at the rate of interest on the Bonds.