Land Lease Fee Sample Clauses
The Land Lease Fee clause defines the payment obligations of the tenant for leasing a parcel of land. Typically, it specifies the amount, frequency, and method of payment required, and may outline adjustments for inflation or changes in market value. This clause ensures that both parties are clear on the financial terms of the lease, helping to prevent disputes over payment and providing a predictable revenue stream for the landowner.
Land Lease Fee. In consideration of the possession, continued use and occupancy of the Land, Land Lessee shall pay to Land Owner a monthly Land Lease Fee (the "Land Lease Fee") equal to:
a) a Land Use Charge of 0 dollars ($0), subject to periodic adjustment as set forth below; plus
b) an Administrative Charge of Nineteen ($19.00) , subject to periodic adjustment as set forth below; plus
c) one-twelfth (1/12) of the annual real estate taxes and any other municipal charges whatsoever applicable to the ownership or use of the Land (such as water and sewer charges); plus
d) special assessments or tax adjustments against the Land, prorated over the number of months for which said assessments or adjustments apply; plus
e) one-twelfth (1/12) of the insurance premiums for such insurance as Land Owner may from time to time carry with respect to the Land or the Improvements. The Land Owner will periodically review and may adjust Land Use Charges and Administrative Charges, as set forth below, with any adjustment of such charges to be effective on January 1st on the following year. In the event a regularly scheduled adjustment to the Land Use Charge or Administrative Charge, as described below in Sections 5.5 and 5.7, is to be effective within twelve (12) months following the closing date on any Permitted Mortgage described below in Section 8 of this Land Lease, or the assumption of such Permitted Mortgage, the effective date of such adjustment to the Land Use Charge or Administrative Charge shall be postponed to a date that is no sooner than twelve (12) months following such closing date or assumption.
Land Lease Fee. (a) The Parties have acknowledged that the land lease fee imposed by the State Agency upon the Land Plot (“LLF”) has been being paid by THT on an annual basis in accordance with the Unit Price Notification currently in force.
(b) Unless otherwise expressly provided in this PTC, XXX shall be liable to pay the LLF and related taxes and fees from the Effective Date whereas THT shall be liable to pay the same before the Effective Date. For the avoidance of doubt, the LLF amount to be reimbursed by XXX shall be prorated based on the number of days corresponding to the payment(s) made by THT in accordance with the Applicable Laws for the period from the Effective Date (if any). Accordingly, the LLF to be reimbursed by XXX to THT shall be calculated based on the following formula: In which:
- A: the unit price for annual LLF, which is currently stipulated under the Unit Price Notification;
- B: the area of the Land Plot as stipulated in the Master Plan, i.e. m2; - C: the number of days beginning from the Effective Date, for which THT has made the payment(s) of the LLF to the State Agency; and