Common use of Contract Rent Clause in Contracts

Contract Rent. With respect to any period of determination and any Lease, the fixed or “base” rent payment for such month in which the determination is made, annualized, that is actually payable by the related Tenant from time to time under the terms of such Lease (excluding any Percentage Rent, prepaid rents and security deposits), after giving effect to any provision of such Lease which applies to the applicable period of determination providing for periodic increases in such fixed or “base” rent by fixed percentages or dollar amounts or by percentages based on increases in the Consumer Price Index. Contract Rent shall exclude rent from ancillary leases such as a billboards or cell towers.