Common use of Minimum Rent Clause in Contracts

Minimum Rent. Anything herein to the contrary notwithstanding, (i) each installment of Basic Rent, whether or not such installment has been adjusted pursuant to Section 3(d), shall be in an amount which is at least equal to the amount of any principal of and interest on the Equipment Notes that falls due and is payable by the Lessor pursuant to the terms of the Indenture (other than by reason of acceleration of the Equipment Notes) on the date when such installment of Basic Rent is due, (ii) Termination Value, whether or not Termination Value has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes (other than overdue amounts attributable to an Indenture Event of Default not caused solely by an Event of Default), and (iii) EBO Amount, whether or not EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes. The preceding sentence is intended solely to provide for, and to allocate as between the Lessor and the Lessee the risk of, the possibility of miscalculation by the Lessor and the Lessee of amounts of Rent which it is contemplated will be available to the Indenture Trustee, as the Lessor's security assignee under the Indenture, for application to the payment of amounts payable by the Lessor on the Equipment Notes. The Lessee does not guarantee, and nothing in this paragraph (f) shall be construed to be a guarantee by the Lessee, that the Lessor will repay any principal of or pay any premium or interest on any Equipment Notes or that the Indenture Trustee will, or will be able to, apply for such purposes any amount of Rent paid by the Lessee.

Minimum Rent. Anything herein to Subtenant shall pay minimum rent as set forth on Schedule G attached hereto. All minimum rent shall be payable, without notice or demand, in equal monthly installments of one-twelfth the contrary notwithstanding, annual rate thereof then applicable, in advance, upon the first day of each calendar month included within the term of this Sublease without abatement (i) each installment except as otherwise set forth in this Sublease), counterclaim, setoff or deduction whatsoever. Rent for the fraction of Basic Renta month or year at the commencement of the term, whether and the fraction of a month or not such installment has been adjusted year at the termination of the term, if any, of this Sublease shall be pro-rated. All payments of minimum rent and all other payments payable pursuant to Section 3(d)this Sublease, including without limitation Operating Expenses, Taxes, utilities and items designated as additional rent in this Sublease (collectively, “Rent”) to be made by Subtenant to Sublessor shall be in an amount made payable to Sublessor and sent to Sublessor at the place to which is at least equal notices to the amount of any principal of Sublessor are required to be sent unless Sublessor shall direct otherwise by notice to Subtenant. All Rent and interest on the Equipment Notes that falls due and is other sums payable by the Lessor pursuant to the terms of the Indenture (other than by reason of acceleration of the Equipment Notes) Subtenant hereunder shall, unless expressly otherwise provided herein, be payable on or before the date when such installment of Basic Rent is due, (ii) Termination ValueSublessor makes payment thereof under the Parent Lease, whether or not Termination Value has been adjusted pursuant to Section 3(d)any utility company, shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes (other than overdue amounts attributable or person entitled to an Indenture Event of Default not caused solely by an Event of Default), and (iii) EBO Amount, whether or not EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes. The preceding sentence is intended solely to provide for, and to allocate as between the Lessor and the Lessee the risk of, the possibility of miscalculation by the Lessor and the Lessee of amounts of Rent which it is contemplated will be available to the Indenture Trusteepayment thereof, as the Lessor's security assignee under case may be. Notwithstanding the Indentureforegoing, or any other provision of this Sublease, except for application payments of minimum rent, Operating Expenses and Taxes (which shall be paid as required pursuant to the payment of this Sublease), Subtenant shall not be obligated to pay any amounts payable by under this Sublease until the Lessor on the Equipment Notes. The Lessee does not guarantee, and nothing in this paragraph thirtieth (f30th) shall be construed to be a guarantee by the Lessee, that the Lessor will repay any principal of or pay any premium or interest on any Equipment Notes or that the Indenture Trustee will, or will be able to, apply for such purposes any amount of Rent paid by the Lesseeday after Subtenant receives an invoice therefor from Sublessor.

Minimum Rent. Anything herein to the contrary notwithstanding, (i) each installment of Basic Rent, whether or not such installment has been adjusted pursuant to Section 3(d), shall be in an amount which is at least equal to the amount of any principal of and interest on the Equipment Notes that falls due and is payable by the Lessor pursuant to the terms of the Indenture (other than by reason of acceleration of the Equipment Notes) on the date when such installment of Basic Rent is due,, and (ii) Termination Value, whether or not Termination Value has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes (other than overdue amounts attributable to an Indenture Event of Default not caused solely by an Event of Default), and (iii) EBO Amount, whether or not EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes. The preceding sentence is intended solely to provide for, and to allocate as between the Lessor and the Lessee the risk of, the possibility of miscalculation by the Lessor and the Lessee of amounts of Rent which it is contemplated will be available to the Indenture Trustee, as the Lessor's security assignee under the Indenture, for application to the payment of amounts payable by the Lessor on the Equipment Notes. The Lessee does not guarantee, and nothing in this paragraph (f) shall be construed to be a guarantee by the Lessee, that the Lessor will repay any principal of or pay any premium or interest on any Equipment Notes or that the Indenture Trustee will, or will be able to, apply for such purposes any amount of Rent paid by the Lessee.

Minimum Rent. Anything herein to the contrary notwithstanding, (i) each installment of Basic Rent, whether or not such installment has been adjusted pursuant to Section 3(d), shall be in an amount which is at least equal to the amount of any principal of and interest on the Equipment Notes that falls due and is payable by the Lessor pursuant to the terms of the Indenture (other than by reason of acceleration of the Equipment Notes) on the date when such installment of Basic Rent is due,, and (ii) Termination Value, whether or not Termination Value has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes (other than overdue amounts attributable to an Indenture Event of Default not caused solely by an Event of Default), and (iii) EBO Amount, whether or not EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes. The preceding sentence is intended solely to provide for, and to allocate as between the Lessor and the Lessee the risk of, the possibility of miscalculation by the Lessor and the Lessee of amounts of Rent which it is contemplated will be available to the Indenture Trustee, as the Lessor's security assignee under the Indenture, for application to the payment of amounts payable by the Lessor on the Equipment Notes. The Lessee does not guarantee, and nothing in this paragraph (f) shall be construed to be a guarantee by the Lessee, that the Lessor will repay any principal of or pay any premium or interest on any Equipment Notes or that the Indenture Trustee will, or will be able to, apply for such purposes any amount of Rent paid by the Lessee.

Minimum Rent. Anything herein The PHA has established a minimum rent of fifty dollars ($50.00). The minimum rent is subject to the contrary notwithstanding,following: a) The PHA shall immediately suspend the minimum monthly rent of any Tenant making a proper request in writing and who is unable to pay because of financial hardship, which shall include: (i1) each installment Loss of Basic Renteligibility for or awaiting an eligibility determination for a federal, whether state or not such installment local assistance program. This includes a family with a member who is an alien lawfully admitted for permanent residence under the Immigration and Naturalization Act who would be entitled to public benefits but for Title IV of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996; (2) The Tenant would be evicted as a result of the implementation of an increase in minimum rent; (3) The income of the Tenant has been adjusted pursuant to Section 3(d)decreased because of changed circumstance, including loss of employment; (4) A death in the family has occurred which affects the Tenant’s circumstances; (5) Other circumstances which shall be decided by the PHA on a case-by-case basis. b) All of the above must be proven by the Tenant providing verifiable information in an amount which is at least equal writing to the amount of any principal of PHA prior to the rent becoming delinquent and interest on before the Equipment Notes that falls due and Lease is payable terminated by the Lessor pursuant PHA. c) If a Tenant requests a hardship exemption (prior to the terms rent becoming delinquent) under this section, and the PHA reasonably determines the hardship to be of a temporary nature, exemption shall not be granted during the Indenture ninety (other than by reason of acceleration of the Equipment Notes90) day suspension period beginning on the date when such installment of Basic Rent is due, (ii) Termination Value, whether or not Termination Value has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date written request for exemption by the Tenant. A Tenant shall not be evicted during the suspension period for non-payment of paymentrent. In such a case, if the Tenant thereafter demonstrates that the financial hardship circumstance is long-term and ongoing, the aggregate unpaid principal of and accrued interest on PHA shall retroactively exempt the Equipment Notes Tenant from the minimum rent requirement for the ninety (other than overdue amounts attributable to an Indenture Event of Default not caused solely by an Event of Default), and90) day suspension period. (iiid) EBO Amount, whether or not EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes. The preceding sentence is intended solely to provide for, and to allocate as between the Lessor and the Lessee the risk of, the possibility of miscalculation by the Lessor and the Lessee of amounts of Rent which it is contemplated will be available to the Indenture Trustee, as the Lessor's security assignee under the Indenture, for application to the payment of amounts payable by the Lessor on the Equipment Notes. The Lessee This section does not guarantee, and nothing in this paragraph (f) shall be construed prohibit the PHA from taking eviction action for other Lease violations unrelated to be a guarantee by the Lessee, that the Lessor will repay any principal of or pay any premium or interest on any Equipment Notes or that the Indenture Trustee will, or will be able to, apply for such purposes any amount of Rent paid by the Lesseefinancial hardship.

Minimum Rent. Anything herein to the contrary notwithstanding, (i) each installment of Basic Rent, whether or not such installment has been adjusted pursuant to Section 3(d), shall be in an amount which is at least equal to the amount of any principal of and interest on the Equipment Notes that falls due and is payable by the Lessor pursuant to the terms of the Indenture and the Equipment Notes (other than by reason of acceleration of the Equipment Notes) on the date when such installment of Basic Rent is due,, and (ii) Termination ValueValue and EBO Amount, whether or not Termination Value or EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes (other than overdue amounts attributable to an Indenture Event of Default not caused solely by an Event of Default), and (iii) EBO Amount, whether or not EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes. The preceding sentence is intended solely to provide for, and to allocate as between the Lessor and the Lessee the risk of, the possibility of miscalculation by the Lessor and the Lessee of amounts of Rent which it is contemplated will be available to the Indenture Trustee, as the Lessor's security assignee under the Indenture, for application to the payment of amounts payable by the Lessor on the Equipment Notes. The Lessee does not guarantee, and nothing in this paragraph (f) shall be construed to be a guarantee by the Lessee, that the Lessor will repay any principal of or pay any premium or interest on any Equipment Notes or that the Indenture Trustee will, or will be able to, apply for such purposes any amount of Rent paid by the Lessee.

Minimum Rent. Anything herein to the contrary notwithstanding, (i) each installment of Basic Rent, whether or not such installment has been adjusted pursuant to Section 3(d)) and after giving effect to any adjustments pursuant to Exhibit C-2 or D, shall be in an amount which is at least equal to the amount of any principal of and interest on the Equipment Notes that falls due and is payable by the Lessor pursuant to the terms of the Indenture (other than by reason of acceleration of the Equipment Notes) on the date when such installment of Basic Rent is due,, and (ii) the EBO Amount and Termination Value, whether or not the EBO Amount and Termination Value has been adjusted pursuant to Section 3(d)) and after giving effect to any rights of the Lessee pursuant to Section 14(d) and the last two paragraphs of Section 17, shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewiththerewith and after giving effect to any adjustments pursuant to Exhibit C-2 or D) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes (other than overdue amounts attributable to an Indenture Event of Default not caused solely by an Event of Default), and (iii) EBO Amount, whether or not EBO Amount has been adjusted pursuant to Section 3(d), shall be in an amount which (when taken together with any Basic Rent due and payable in connection therewith) is at least equal to, as of the applicable date of payment, the aggregate unpaid principal of and accrued interest on the Equipment Notes. The preceding sentence is intended solely to provide for, and to allocate as between the Lessor and the Lessee the risk of, the possibility of miscalculation by the Lessor and the Lessee of amounts of Rent which it is contemplated will be available to the Indenture Trustee, as the Lessor's security assignee under the Indenture, for application to the payment of amounts payable by the Lessor on the Equipment Notes. The Lessee does not guarantee, and nothing in this paragraph (f) shall be construed to be a guarantee by the Lessee, that the Lessor will repay any principal of or pay any premium or interest on any Equipment Notes or that the Indenture Trustee will, or will be able to, apply for such purposes any amount of Rent paid by the Lessee.