Common use of Monthly Installment Clause in Contracts

Monthly Installment. The Monthly Installment of rent to be paid each month by Subtenant to Sublandlord during the Sublease Term, subject to adjustment as provided below, shall be equal to one-twelfth (1/12th) of an amount that will yield Sublandlord an eight percent (8%) annual return on the portion of the Purchase Price paid by Sublandlord that is allocable to the Excluded Area and the improvements thereon. The acreage of the Excluded Area shall be deemed to be 11.49 acres, and the acreage of the Land shall be deemed to be 19.61 acres. The portion of the Purchase Price that is allocable to the Excluded Area and the improvements thereon shall be determined by multiplying $32,200,000 by a fraction, the numerator of which is the acreage included in the Excluded Area (11.49 acres) and the denominator of which is the total acreage included in the entire Land (19.61 acres). Thus, the Monthly Installment shall be equal to $125,778.68 per month. Once the allocation of FAR Funds (as defined in the Purchase Agreement) has been determined pursuant to Section 6.3(j) of the Purchase Agreement, the Purchase Price used to calculate the Monthly Installment, and thus the Monthly Installment, shall be adjusted accordingly.

Monthly Installment. The Monthly Installment of rent to be paid each month by Subtenant to Sublandlord during the Sublease Term, subject to adjustment as provided below, shall be equal to one-twelfth (1/12th) of an amount that will yield Sublandlord an eight percent (8%) annual return on the portion of the Purchase Price paid by Sublandlord that is allocable to the Excluded Area and the improvements thereon. The acreage of the Excluded Area shall be deemed to be 11.49 acres, and the acreage of the Land shall be deemed to be 19.61 acres. The portion of the Purchase Price that is allocable to the Excluded Area and the improvements thereon shall be determined by multiplying $32,200,000 by a fraction, the numerator of which is the acreage included in the Excluded Area (11.49 acres) and the denominator of which is the total acreage included in the entire Land (19.61 acres). Thus, the Monthly Installment shall be equal to $125,778.68 per month. Once the allocation of FAR Funds (as defined in the Purchase Agreement) has been determined pursuant to Section 6.3(j) of the Purchase Agreement, the Purchase Price used to calculate the Monthly Installment, and thus the Monthly Installment, shall be adjusted accordingly.