PAYMENT OF ADDITIONAL RENTAL Sample Clauses

PAYMENT OF ADDITIONAL RENTAL. 6.1 Commencing on the first anniversary of the Commencement Date and on each anniversary of the Commencement Date thereafter (said anniversary dates hereinafter referred to as “computation dates”), the Tenant shall pay to Landlord as Additional Rental a sum calculated based upon the cost of living as reflected in the “Consumers Price Index, New York-New Jersey Area-All Items” (hereinafter called the “CPI”) for the month of May published in the Monthly Labor Review of the Bureau of Labor Statistics of the United States Department of Labor. Said Additional Rental sum shall be in effect commencing from the computation date until the next computation date or the end of the term. The amount of said Additional Rental shall be arrived at by multiplying the monthly Basic Rental ($336,806.00) as set forth in Paragraph 3 above by a fraction, the numerator of which shall be the CPI number for 12 months preceding such computation date, and the denominator of which shall be the CPI index on the later of commencement date or anniversary date. The sum of the Additional Rental thereby obtained shall be payable on the first day of each calendar month until the next computation date. If there be no CPI number or comparable successor thereto, then the sum of Additional Rental contemplated herein shall be established by arbitration in accordance with the rules of the American Arbitration Association. The CPI shall be set at a minimum of 2% and a maximum of 6%.
Sample 1
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PAYMENT OF ADDITIONAL RENTAL. At Lessor's option, Lessor may ---------------------------- require that Lessee pay all or some portion of the additional rental owing under Paragraphs 4.2, 7.1, 8.1, and 53.1 in the following manner. Lessee shall pay monthly on the first day of each month an amount equal to one twelfth (1/12th) of Lessor's estimate of the amount of such rent due during the year. Within a reasonable time after the end of each calendar year, Lessor shall compute the amount payable for the prior year. In the event that the actual additional rental is more than Lessor's estimate, the difference between the amount owing. and the amount of rent adjustment actually paid by Lessee for the prior year shall be payable in full at the time the next monthly rent payment is due. In the event that the actual additional rental is less than Lessor's estimate, Lessee shall be entitled to a credit against the next rental payment payable by Lessee hereunder in the amount of such difference.
Sample 1
PAYMENT OF ADDITIONAL RENTAL. The estimated amounts of Tenant's Additional Rental for taxes, insurance premiums and common area maintenance costs for the partial Lease Year ending December 31 of the calendar year in which the Commencement Date falls are set forth above. For each succeeding calendar year during the Lease Term, Landlord shall submit an estimate of Tenant's share for taxes, insurance premiums and common area maintenance costs on or before April 1 of each such succeeding calendar year. If an estimate of Tenant's share of expenses for any calendar year during the Lease Term has not been submitted on or before the first day of April in such calendar year, Tenant shall pay Tenant's share for such month(s) at the estimated rate for the previous calendar year, and such payment(s) shall be adjusted effective as of January 1 of such calendar year at such time as the estimate for such calendar year is submitted, at which time the deficiency or overage (as the case may be) in the estimated payments for the preceding months in such calendar year also shall be collected or credited (as the case may be). Landlord shall charge, and Tenant shall pay, the estimated Tenant's share of expenses on a monthly basis or on some other periodic basis established by Landlord, payable in advance and subject to adjustment after the end of the respective calendar year on the basis of the actual costs incurred for such calendar year. Tenant's share of estimated taxes, insurance premiums and common area maintenance costs shall be paid in a like manner, with the monthly rental installments being adjusted accordingly. In the event such costs actually decrease for any such calendar year, Landlord shall reimburse Tenant for any overage paid and the monthly rental installments for the next period shall be reduced accordingly.
Sample 1
PAYMENT OF ADDITIONAL RENTAL. For each Escalation Year, Tenant shall pay the Additional Rental to Landlord without demand, deduction or set-off in equal monthly installments during each Escalation Year based upon a reasonable estimate by Landlord of Tenant's Share of Operating Expenses for such Escalation Year. Each such installment shall be due with the monthly installment of Base Rental.
Sample 1

Related to PAYMENT OF ADDITIONAL RENTAL

  • Payment of Additional Rent In addition to the Minimum Annual Rent specified in this Lease, Tenant shall pay to Landlord as "Additional Rent" for the Leased Premises, in each calendar year or partial calendar year, during the Lease Term, an amount equal to the Annual Rental Adjustment excluding Real Estate Taxes for such calendar year or partial calendar year. In the case of the calendar year of the Commencement Date, Landlord shall provide such notice prior to the Commencement Date. The Annual Rental Adjustment excluding Real Estate Taxes shall be estimated annually by Landlord, and written notice thereof shall be given to Tenant prior to the beginning of each calendar year. Tenant shall pay to Landlord each month, at the same time the Monthly Rental Installment is due, an amount equal to one-twelfth (1/12) of the estimated Annual Rental Adjustment excluding Real Estate Taxes. If the cost of utility, janitorial or other services increase during a calendar year, Landlord may increase the estimated Annual Rental Adjustment excluding Real Estate Taxes during such year by giving Tenant written notice to that effect, and thereafter Tenant shall pay to Landlord, in each of the remaining months of such year, an amount equal to the amount of such increase in the estimated Annual Rental Adjustment excluding Real Estate Taxes for the remainder of the year divided by the number of months remaining in such year. Within a reasonable time after the end of each calendar year, Landlord shall prepare and deliver to Tenant a statement showing the actual Annual Rental Adjustment excluding Real Estate Taxes. Within thirty (30) days after receipt of the aforementioned statement, Tenant shall pay to Landlord, or Landlord shall credit against the next rent payment or payments due from Tenant, as the case may be, the difference between the actual Annual Rental Adjustment excluding Real Estate Taxes for the preceding calendar year and the estimated amount paid by Tenant to Landlord during such year. In addition, Tenant shall pay, before delinquency, any and all Real Estate Taxes as defined in Section 3.02.D, above, directly to the appropriate taxing authority. If Tenant fails for any reason to pay the Real Estate Taxes when same is due and payable, Landlord shall have the right, but not the obligation, to pay the Real Estate Taxes directly to the taxing authority and Tenant shall immediately reimburse Landlord for the cost thereof. Such amount shall accrue interest from the date Landlord pays such amount, pursuant to Section 3.04, below, shall include any penalties, late fees and any interest assessed due to such delinquency. Tenant or its accountants shall have the right to inspect, at reasonable time and in a reasonable manner, during the one hundred twenty (120) day period following the delivery of Landlord's statement of the actual amount of the Annual Rental Adjustment excluding Real Estate Taxes, such of Landlord's books of account and records as pertain to and contain information concerning such costs and expenses for the Building for the prior calendar year in order to verify the amounts thereof. In the event the first audit discloses (i) errors made during the prior calendar year which, when totaled, indicate that the sum overcharged to and paid by Tenant, exceeds five percent (5%) of the Annual Rental Adjustment excluding Real Estate Taxes plus Landlord's Share of Operating Expenses (the "Total Expenses"), the audit shall be at the expense of Landlord, not to exceed Two Thousand Five Hundred Dollars ($2,500.00), or (ii) no errors or an error which equals or is less than five percent (5%) of the Total Expenses, the audit shall be at the expense of Tenant. For each subsequent audit, where the audit discloses errors exceeding five percent (5%) of the Total Expenses, Landlord shall pay for such audit and, if the audit discloses errors equal to or less than five percent (5%) of the Total Expenses, Tenant shall pay the costs of the audit. If Landlord spends more than eight (8) hours to accommodate Tenant's right to audit hereunder, Tenant shall also pay to Landlord as additional rent Seventy-five Dollars ($75.00) per hour for each additional hour that Tenant's audit takes of Landlord's property manager's or asset manager's time, provided such audit discloses no error or an error greater than five percent (5%) of the Total Expenses. The results of the audit (regardless of the degree of the error, if any) shall be binding upon Landlord and Tenant, and Landlord shall thereafter, if appropriate, change its method of calculating the Operating Expenses consistent with the results of the audit. Tenant agrees to hold the information obtained from such audit confidential and shall not disclose the same without Landlord's express written permission except as necessary to enforce the Lease or protect Tenant's rights hereunder. If Tenant shall not elect to cause an audit within the time period permitted hereby, then Landlord's statement shall be conclusively deemed to have been approved and accepted by Tenant. Pending resolution of any dispute with respect to statements of Tenant's Annual Rental Adjustment, Tenant shall pay its Annual Rental Adjustment as shown on such statement, and upon final determination of the amount of Tenant's Annual Rental Adjustment, Landlord shall promptly refund any overpayment to Tenant or Tenant shall promptly pay any amount due to Landlord, as applicable.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

  • Additional Rental Lessee shall pay and discharge, as additional rental (“Additional Rental”), all sums of money required to be paid by Lessee under this Lease which are not specifically referred to as Rental. Lessee shall pay and discharge any Additional Rental when the same shall become due, provided that amounts which are billed to Lessor or any third party, but not to Lessee, shall be paid within fifteen (15) days after Lessor’s demand for payment thereof or, if later, when the same are due. In no event shall Lessee be required to pay to Lessor any item of Additional Rental that Lessee is obligated to pay and has paid to any third party pursuant to any provision of this Lease.

  • Additional Rent Any monetary obligations of Lessee to Lessor under the terms of this Lease shall be deemed to be rent.

  • Payment of Additional Costs If termination of this contract is due to the failure of the Engineer to fulfill its contract obligations, the State may take over the project and prosecute the work to completion, and the Engineer shall be liable to the State for any additional cost to the State.

  • Payment of Base Rent Tenant agrees to pay the Base Rent for the Premises. Monthly Installments of Base Rent shall be payable in advance on the first day of each calendar month of the Term. If the Term begins (or ends) on other than the first (or last) day of a calendar month, the Base Rent for the partial month shall be prorated on a per diem basis. Tenant shall pay Landlord the first Monthly Installment of Base Rent when Tenant executes the Lease.

  • 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 ($ )

  • Calculation of Rent All calculation of Rent payable hereunder shall be computed based on the actual number of days elapsed over a year of three hundred sixty (360) days or, to the extent such Rent is based on the Prime Lending Rate, three hundred sixty-five (365) (or three hundred sixty-six (366), as applicable) days.

  • Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, a monthly installment of $3,284.00. Lessee shall also pay, as additional rent, all such other sums of money as shall become due from and payable by Lessee to Lessor under this Lease (Base Rental, any adjustment thereto pursuant to Section 4 hereof, and all such other sums of money due from and payable by Lessee pursuant to this Lease are sometimes hereinafter collectively called "rent"), for the nonpayment of which Lessor shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rental. The Base Rental, together with any adjustment or increase thereto then in effect, shall be due and payable in advance in twelve (12) equal installments on the first (lst) day of each calendar month during the term of this Lease, and Lessee hereby agrees so to pay such Base Rental and any adjustment or increase thereto to Lessor at Lessor's address provided herein (or such other address as may be designated by Lessor in writing from time to time) monthly, in advance, and without demand. If the term of this Lease commences on a day other than the first (lst) day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated, and the installment or installments so prorated shall be paid in advance.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on October 22, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

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