Minimum and Percentage Rent Sample Clauses

Minimum and Percentage Rent. Tenant covenants and agrees to pay to Landlord, without notice or demand, at Landlord's address for notice (Landlord's and Tenant's notice addresses being the addresses specified in Section 24.7 hereof), as rent for the Premises:
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Minimum and Percentage Rent. If this Lease has not theretofore been canceled by Xxxxxx as provided hereinabove, then minimum and percentage rent shall begin to accrue as provided below.
Sample 1
Minimum and Percentage Rent. A. Minimum Annual Rent shall be payable each Lease Year (as hereinafter defined) in equal monthly installments in advance, upon the first day of each and every month commencing upon the Rent Commencement Date and continuing thereafter through and including the Termination Date (each monthly installment being hereinafter called "Minimum Monthly Rent") as follows; and Lease Year Annual Rent Minimum Monthly Rent 1 $1,200,000.00 $100,000.00 2 $1,200,000.00 $100,000.00 3 $1,500,000.00 $125,000.00 4 $1,800,000.00 $150,000.00 5 $2,100,000.00 $175,000.00 B. Percentage Rent shall be payable monthly in installments on the Fifteenth (15th) day after the month following the month in which Gross Sales (as hereinafter defined) for each Lease Year equal $3,000,000. Percentage Rent payments shall be in a sum equal to the amount by which the Applicable Percentage (as set forth below) of Gross Sales during each Lease Year beginning on the Commencement Date exceeds the Breakpoint set forth below; and Lease Year Applicable Percentage / Breakpoint 1 0% of Gross Sales; 2 0% of Gross Sales to $3,000,000 7% of Gross Sales between $3,000,001 - $5,000,000 8% of Gross Sales between $5,000,001 - $7,000,000 9% of Gross Sales between $7,000,001 - $9,000,000 10% of Gross Sales above $9,000,001; 3 0% of Gross Sales to $3,000,000 8% of Gross Sales between $3,000,001 - $5,000,000 9% of Gross Sales between $5,000,001 - $7,000,000 10% of Gross Sales between $7,000,001 - $9,000,000 11% of Gross Sales above $9,000,001; 4 0% of Gross Sales to $3,000,000 9% of Gross Sales between $3,000,001 - $5,000,000 10% of Gross Sales between $5,000,001 - $7,000,000 11% of Gross Sales between $7,000,001 - $9,000,000 12% of Gross Sales above $9,000,001; 5 0% of Gross Sales to $3,000,000 10% of Gross Sales between $3,000,001 - $5,000,000 11% of Gross Sales between $5,000,001 - $7,000,000 12% of Gross Sales between $7,000,001 - $9,000,000 13% of Gross Sales above $9,000,001
Sample 1
Minimum and Percentage Rent. Tenant covenants and agrees to pay to Landlord, without notice or demand, at Landlord's Address for notice the Minimum Rent set forth in Article I, in advance upon the first day of each and every month of the Lease Term. If actual Store Floor Area is modified in accordance with Section 2.l, the Minimum Annual Rent (Break Points are not related to Minimum Rent or Store Floor Area) and the Sales Breakpoint shall be deemed automatically increased or decreased based upon the Store Floor Area as thus determined, and any overpayments or underpayments of Minimum Monthly Rent (Break Points are not related to Minimum Rent or Store Floor Area) and Percentage Rent to Landlord shall be adjusted accordingly. The failure of Tenant to object to any statement, invoice, or billing presented by Landlord, within thirty (30) days after receipt of such statement, invoice, or billing based on Store Floor Area, shall constitute Tenant's acquiescence to the actual Store Floor Area as so determined by Landlord. In addition to the payment of Minimum Rent, Tenant covenants and agrees to pay to Landlord, without notice or demand, at Landlord's Address for notice, an amount, if any, equal to the Percentage Rent Rate applied against that portion of Tenant's Adjusted Gross Sales during each Lease Year or Partial Lease Year in excess of the Sales Breakpoint for such period (hereinafter referred to as "Percentage Rent"). In the event of a Partial Lease Year, the Sales Breakpoint shall be determined by multiplying the Sales Breakpoint for the full Lease Year, by a fraction, the numerator of which shall be the number of days contained in such Partial Lease Year and the denominator of which shall be 365 days. If Minimum Rent for any Lease Year or Partial Lease Year is reduced or abated for any reason, the Sales Breakpoint shall be reduced in direct proportion to the reduction or abatement of Minimum Rent for the period of time that such reduction or abatement of Minimum Rent is in effect. If the Sales Breakpoint changes during a Lease Year, the Sales Breakpoint for that Lease Year shall be appropriately adjusted. Notwithstanding anything to the contrary contained in this Lease, for purposes of calculating Percentage Rent for the Partial Lease Year at the end of the Lease Term, Tenant's Gross Sales during the Partial Lease Year shall be deemed to be the total Gross Sales for the final twelve (12) month period of the Lease Term multiplied by a fraction the numerator of which is the number of c...
Sample 1

Related to Minimum and Percentage Rent

  • Percentage Rent In addition to the Base Rent, Lessee shall be: (check one) ☐ - Not required to make payments related to Lessee’s sales or revenue (“Percentage Rent”). ☐ - Required to pay __________________ percent (____%) of __________________ (gross sales, net sales, etc.). Such payment shall be made ☐ Monthly ☐ Quarterly ☐ Annually along with a receipt to show proof of percentage calculation (“Percentage Rent”). The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.”

  • 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.

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Minimum Amount of Each Advance Each Eurodollar Advance shall be in the minimum amount of $5,000,000 and in multiples of $1,000,000 if in excess thereof. Floating Rate Advances may be in any amount.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • 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 ($ )

  • Tenant’s Percentage Share The term "Tenant's Percentage Share" shall mean 46.67% and shall be used to calculate increases in Property Taxes and Operating Expenses (as such terms are hereinafter defined) payable by Tenant. Landlord may reasonably redetermine Tenant's Percentage Share from time to time to reflect reconfigurations, additions or modifications to the Building.

  • 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.

  • Tenant’s Pro Rata Share For the period commencing with the Expansion Effective Date and ending on the Termination Date, Tenant’s Pro Rata Share for the Expansion Space is one point one five percent (1.15%).

Time is Money Join Law Insider Premium to draft better contracts faster.