Modification of Rent. Commencing on June 1, 2023, the current rent payable under the Agreement shall be One Thousand Nine Hundred and No/100 Dollars ($1,900.00) per month (the “Rent”), and shall continue during the Term, subject to adjustment, if any, as provided below. In the event of any overpayment of Rent prior to or after the Effective Date, Tenant shall have the right to deduct from any future Rent payments an amount equal to the overpayment amount.
Modification of Rent. Commencing on September 1, 2018, the Rent payable under the Agreement shall be $2,500.00 monthly, and shall continue during the Term, subject to adjustment as provided below.
Modification of Rent. The Monthly Rent to be paid under the Lease shall be reduced to One Hundred and Eighty-Three Thousand, Five Hundred and Seventy-Three Dollars and Seventy-One Cents ($183,573.71), plus attendant increases, if any, as provided in section 5(b) of the Lease.
Modification of Rent. Commencing on July 29, 2011, the rent payable for the first year of the Third Extended Term (July 29, 2011 through July 28, 2012) shall be $30,000.00 annually, and shall continue during the Third Extended Term. The annual rental payment shall be due and payable in advance on July 29th of each year of the Third Extended Term.
Modification of Rent. Beginning on the Assignment Commencement Date, -------------------- Assignee agrees to pay to Landlord, at the address set forth in Section 9 hereinbelow, Annual Rent in the amount of Three Hundred Eighty Three Thousand Six Hundred Twenty-One and 04/100 Dollars ($383,621.04) for the Lease Term, payable in monthly installments of Thirty One Thousand Nine Hundred Sixty-Eight and 42/100 Dollars ($31,968.42) in accordance with the terms and conditions of the Lease. Assignee shall continue to pay all additional rent and other sums payable under the Lease accruing from and after the Assignment Commencement Date pursuant to the terms and conditions of the Lease.
Modification of Rent. Effective as of the Effective Date (as defined below), Section 3(a) is deleted in its entirety and replaced with the following:
Modification of Rent. The rents payable in monthly installments pursuant to Paragraph 5 A of the Lease shall, for the first six (6) months beginning January 1, 1997, be Two Hundred Fifty-Five Thousand, Forty-Forty Dollars ($255,044.00) and thereafter annually on July 1st of each of the next six (6) years consecutively following, such annual rent shall increase by Eleven Thousand, Eight Hundred Sixty-Three Dollars ($11,863.00) over the annual rent for the preceding year and thereafter for the remaining eight (8) years of the term (beginning July 1, 2003) such annual rent shall increase by Five Thousand Nine Hundred and Thirty-One Dollars ($5,931.00) over the annual rent for the preceding lease year, provided further, nevertheless, if in any year (from July 1 to June 30) such annual rent increase is less than an amount equal to Fifty Percent (50%) of the most recent authorized increase in the Reimbursement Rate, (applied to the number of beds in the facility for a period of 365 days) the increased rental for such year shall be an amount equal to Fifty Percent (50%) of such increase in the Reimbursement Rate. The Reimbursement Rate is the "Indirect Reimbursement Rate for Nursing Homes" or any similar measure of reimbursement hereafter adopted as the same shall be increased by the North Carolina Department of Human Resources or any successor agency. The intention of the parties is that the increase in rent for each year shall be the larger of (1) the specified increase ($11,863.00 for each of the next six (6) years beginning July 1, 1997, and $5,931.00 for each of the following eight (8] years) or (2) the amount obtained by applying to the number of beds in the facility for a 365 day period, Fifty Percent (50%) of the increase in the Reimbursement Rate.
