INCREASE IN INITIAL BASE RENT Sample Clauses

INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter through and including the fourth (4th) Adjustment Date, the Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"); provided the January 1, 1998 increase shall be pro rated for the number of days in the Lease Term in 1997 divided by 365 and multiplied by the applicable Base Rent Escalator. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.
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INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 and on each January 1 thereafter through and including January 1, 2003, the Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"). If Landlord provides Tenant with the Bunker Repair Funds as provided in Section 11.5, Annual Base Rent shall increase by an amount that is 10.5% of the Bunker Repair Funds. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then the Base Rent Escalator shall continue to apply to each of the five (5) years following such increase, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.
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INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter during the Term, including the Extended Term, Annual Base Rent will increase by the lesser of (i) two percent (2%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator").
Sample 1
INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter through and including the fourth (4th) Adjustment Date, the Annual Base Rent will increase by the lesser of (i) four percent (4%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year (the "Base Rent Escalator"); provided that an additional amount shall be added to the first such increase (on April 1, 1999) to take into account that portion of the Lease Term existing from the Commencement Date until April 1, 1998, which additional amount shall be equal to: the product generated by multiplying the applicable Base Rent Escalator for 1999 (determined on April 1, 1999) by the number of days in the Lease Term from the Commencement Date until April 1, 1998, divided by 365. In addition, if the Annual Base Rent is increased as provided in Section 4.5, then, for each of the five (5) years following such increase, the Annual Base Rent will be further increased by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred percent (200%) of the change in CPI from the immediately preceding fiscal year, with the increase effective on the anniversary of the increase in Base Rent as provided in Section 4.5 in lieu of increases on January of each year.
Sample 1
INCREASE IN INITIAL BASE RENT. Beginning on the date (the "Adjustment Date") that is the first day of the first Fiscal Quarter commencing after the one (1) year anniversary of the Commencement Date, and on each Adjustment Date thereafter during the Term until Gross Golf Revenue for the prior Fiscal Year equals or exceeds Five Million Dollars ($5,000,000), Annual Base Rent will increase by the lesser of (i) three percent (3%) of the Annual Base Rent payable for the immediately preceding year, or (ii) two hundred fifty percent (250%) of the change in CPI from the immediately preceding fiscal year (the "Base Escalator"). Tenant shall be permitted to defer payment of the Base Escalator until such time as Gross Golf Revenue for any Fiscal Year equals or exceeds Five Million Dollars ($5,000,000), but only if and to the extent that Net Operating Income of the Property (exclusive of Tenant's debt service to any third party under any Leasehold Financing, if any), calculated in accordance with GAAP, is negative. Any amounts so deferred shall be payable from net operating income in subsequent years, and no positive distributions shall be made to any of the members or affiliates of Tenant so long as any deferred amounts are outstanding. For purposes of the calculation of net operating income pursuant to this Section 4.2, the operating expenses shall not exceed the pro forma amounts set forth in EXHIBIT C without the approval of Landlord, which approval shall not be unreasonably withheld or delayed.
Sample 1
INCREASE IN INITIAL BASE RENT. Beginning on January 1, 1999 and on each January 1 thereafter until this Lease is terminated, the Annual Base Rent will increase by five percent (5%) (the "Base Rent Escalator") of the Annual Base Rent payable for the immediately preceding year, provided the January 1, 1999 increase shall be pro rated for the number of days in the Lease Term in 1998 divided by 365 and multiplied by the applicable Base Rent Escalator. In addition to the foregoing, on the first day of each month following any disbursement by Landlord pursuant to Section 12.9, the Annual Base Rent will increase further for the remainder of the Initial Term and any Extended Term, by (i) 9% times (ii) the sum the Landlord delivered to the Tenant as reimbursement of Landlord Improvements and Additional Improvements pursuant to Section 12.9 in the prior month.
Sample 1

Related to INCREASE IN INITIAL BASE RENT

  • Increase in Insurance Premiums If an increase in any insurance premiums paid by Landlord for the Building is caused by Tenant's use of the Premises or if Tenant vacates the Premises and causes an increase in such premiums, then Tenant shall pay as additional rent the amount of such increase to Landlord.

  • Increase in Hours 6.4.1 For unit - 1 When additional hours are available to a part-time position on a regular basis, the hours shall be offered to the employee in the unassigned time with the greatest bargaining unit seniority. If the senior employee declines the assignment, it shall be offered to the remaining employees in the class in descending order of bargaining unit seniority until the assignment is made.

  • Fee Increases S&P reserves the right to increase its fees under this Order Schedule effective on the anniversary of the Commencement Date by providing at least sixty (60) days advance written notice to Licensee prior to the expiration of the Term then in effect.

  • Base Rent 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Annual Base Rent Section 5.1 Effective as of the Effective Date, the first sentence of Section 5.1 of the Lease shall be deemed modified and restated in its entirety as follows: "During the Initial Term Tenant agrees to pay to Landlord annual base rent for the Premises (the "ANNUAL BASE RENT") at the rate of Three Million Eight Hundred Thousand and 00/100 Dollars ($3,800,000.00) per annum (the "INITIAL ANNUAL BASE RENT AMOUNT"). Notwithstanding the foregoing, provided that Tenant is not then in default under this Lease beyond any applicable period set forth in this Lease within which the default may be cured, Tenant shall be entitled to an aggregate credit of $1,000,000 to be applied in twelve (12) equal monthly installments of $83,333.33 against the monthly installments of Annual Base Rent due hereunder for the second through thirteenth calendar months of the Initial Term (the "FREE RENT PERIOD"); it being further agreed, however, that if Tenant is in default under this Lease beyond any applicable cure period, then (a) any credit not given Tenant during the period of such default shall only be suspended and shall be given to Tenant, and carried forward if not capable of immediately being used in its entirety until capable of being so used in its entirety, upon any subsequent cure by Tenant of such default and any other then existing default(s) by Tenant under this Lease, and (b) Tenant shall further be entitled to all monthly installments of such credit otherwise to be applied, pursuant to the terms hereof, after such subsequent cure(s). Notwithstanding anything to the contrary in this Lease, if there shall be Net Distributable Cash for the Free Rent Period, but calculated for this purpose only without reference to any additional rent payable pursuant to this sentence, then Tenant shall pay an amount (such amount, the "FREE RENT MAKE-UP") equal to the lesser of (1) the amount of the $1,000,000 credit set forth above actually applied against Annual Base Rent as provided above, whether such application against Annual Base Rent was made during the Free Rent Period or subsequent thereto (i.e., if any portion of such credit is so applied after the Free Rent Period pursuant to either or both of the preceding clauses (a) and (b)) or (2)

  • Increase in Limits If either Lessor or Lessee at any time deems the limits of the personal injury or property damage under the comprehensive public liability insurance then carried to be either excessive or insufficient, Lessor and Lessee shall endeavor in good faith to agree on the proper and reasonable limits for such insurance to be carried and such insurance shall thereafter be carried with the limits thus agreed on until further change pursuant to the provisions of this Article 13.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on October 22, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Monthly Base Rent On each Due Date, each Lessee shall pay to the Lessor the Monthly Base Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;

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