Ground Lease Rent. If the Property is subject to a Ground Lease where a Seller pays rent, then at the Closing (a) if such Ground Lease rents are payable after the Closing Date for a period before the Closing Date, the Sellers shall pay to the Buyer on the Closing Date an amount equal to the amount of such Ground Lease rents allocated to the period before the Closing Date, prorated on a per diem basis, and (b) if such Ground Lease rents were paid before the Closing Date for a period from and after the Closing Date, the Buyer shall pay to the Sellers an amount equal to the amount of such Ground Lease rents reasonably allocated to the period from, including and after the Closing Date, prorated on a per diem basis.
Ground Lease Rent. On each anniversary of the GL Effective Date, BNPLC shall make a payment to Lessor of rent for the then preceding year ("GROUND LEASE RENT"), in currency that at the time of payment is legal tender for public and private debts in the United States of America. Each such payment of Ground Lease Rent shall equal the Fair Rental Value, determined as provided in Annex 4.
Ground Lease Rent. Periodic rent due under the Ground Leases, if any, shall be prorated at Closing but paid as and when actually due.
Ground Lease Rent. The Developer will pay rent in advance annually and in the amount of eight percent (8%) of the First Future Purchase Price (“Ground Lease Rent”) for the first ten (10) years of the Ground Lease. At the end of the first ten (10) years of the Ground Lease Term, the rent shall increase by twenty percent (20%) every ten (10) years thereafter.
Ground Lease Rent. The Ground Lessee will pay rent in advance annually and in the amount of eight percent (8%) of the First Future Purchase Price (“Ground Lease Rent”) for the first ten (10) years of this Ground Lease. At the end of the first ten (10) years of the Ground Lease Term, the Ground Lease Rent shall increase by twenty percent (20%) every ten (10) years thereafter, without deduction or offset. All Ground Lease Rent is payable to the City at such place as the City may designate in writing.
Ground Lease Rent. All rent and all other sums and amounts due and payable under the Wyoming Ground Lease.
Ground Lease Rent. Section 2 of the First Amendment is hereby deleted in its entirety and replaced with the following:
Ground Lease Rent. Tenant shall pay to Landlord Ground Lease Rent for the Premises as set forth in this Section 4.1 (the “Ground Lease Rent”), which shall be paid in twelve equal monthly installments, on or before the first (1st) day of each calendar month during the Term. Ground Lease Rent for any partial calendar month shall be pro-rated on a per diem basis based on a thirty (30) day month.
Ground Lease Rent. The rent required by this Ground Lease (herein called “Ground Lease Rent”) will equal the Fair Rental Value, determined as provided in Exhibit D, and be paid as follows: Prior to the Completion Date, BNPPLC must pay Ground Lease Rent to NAI on the first Business Day of every calendar month for the preceding month. Consistent with the agreement of the parties in Exhibit D that the initial Fair Rental Value is $300,000 per annum, and each such required monthly payment prior to the Completion Date is $25,000. (Notwithstanding the forgoing, as was agreed by the parties for administrative convenience at the time of the execution of the Prior Ground Lease, BNPPLC has already prepaid all of the Ground Lease Rent expected to accrue prior to the Completion Date, rather than pay it monthly on the first Business Day of each month.) After the Completion Date, Ground Lease Rent will be paid annually in arrears on each anniversary of the Effective Date. So long as the Lease continues, each such payment by BNPPLC may be offset against the reimbursement for such payment required of NAI by the Lease. After the Lease expires or terminates, however, BNPPLC’s obligation for the payment of Ground Lease will continue so long as this Ground Lease continues, on and subject to the terms and conditions set forth herein. 4 Receipt and Application of Insurance and Condemnation Proceeds. All insurance and condemnation proceeds payable with respect to any damage to or taking of the Leased Property will be payable to and become the property of BNPPLC; provided, however, NAI will be entitled to receive condemnation proceeds awarded for the value of NAI’s remainder interest in the Land exclusive of the Improvements. BNPPLC is authorized to take all action necessary on behalf of both BNPPLC and NAI (as lessor under this Ground Lease) to collect insurance and condemnation proceeds.
Ground Lease Rent. Commencing on the Entire Premises Delivery Date and continuing thereafter during the term of this Lease, Tenant shall pay to the Ground Lease Landlord the Ground Lease Rent then due and payable pursuant to the provisions of the Ground Lease. Landlord represents that the Ground Lease Rent shall not exceed $63,000.00 per annum prior to the expiration of the Lease Term.
