Common use of Contract Rent Clause in Contracts

Contract Rent. The Port and Concessionaire agree that the first seven percent (7%) of Concessionaire’s Gross Sales paid to the Port shall be the contract rent for the Premises for purposes of the Leasehold Excise Tax Payable pursuant to Chapter 81.29A of the Revised Code of Washington. All amounts in excess of the first seven percent of the Gross Sales shall be consideration for the concession rights granted under this Agreement.

Contract Rent. The Port and Concessionaire agree that the first seven percent (7%) of Concessionaire’s the Gross Sales paid to the Port (whether paid as part of the Minimum Monthly Guarantee or as Percentage Fees) shall be the contract rent for the Premises for purposes of the Leasehold Excise Tax Payable pursuant to Chapter 81.29A of the Revised Code of Washington. All amounts in excess of the first seven percent of the Gross Sales shall be consideration for the concession rights granted under this Agreement.

Contract Rent. The Port and Concessionaire agree that the first seven percent (7%) of Concessionaire’s Gross Sales paid to the Port (whether paid as part of the Minimum Annual Guarantee or as Percentage Fees) shall be the contract rent for the Premises for purposes of the Leasehold Excise Tax Payable pursuant to Chapter 81.29A 82.29A of the Revised Code of Washington, unless the Washington State Department of Revenue imposes a different percentage allocation. All amounts in excess of the first seven percent of the Gross Sales amount deemed subject to Leasehold Excise Tax shall be consideration for the concession rights granted under this Agreement.