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.”
Percentage Rent. Any percentage rents due or paid under any of the Leases (“Percentage Rent”) shall be prorated between Buyer and Seller outside of Closing as of the Close of Escrow on a Lease-by-Lease basis, as follows; (a) Seller shall be entitled to receive the portion of the Percentage Rent under each Lease for the Lease Year in which Closing occurs, which portion shall be the ratio of the number of days of said Lease Year in which Seller was Landlord under the Lease to the total number of days in the Lease Year, and (b) Buyer shall receive the balance of Percentage Rent paid under each Lease for the Lease Year. As used herein, the term “Lease Year” means the twelve (12) month period as to which annual Percentage Rent is owed under each Lease. Upon receipt by either Buyer or Seller of any gross sales reports (“Gross Sales Reports”) and any full or partial payment of Percentage Rent from any tenant of the Property, the party receiving the same shall provide to the other party a copy of the Gross Sales Report and a check for the other party’s prorata share of the Percentage Rent within five (5) days of the receipt thereof. In the event that the Tenant only remits a partial payment, then the amount to be remitted to the other party shall be its prorata share of the partial payment. Nothing contained herein shall be deemed or construed to require either Buyer to Seller to pay to the other party its prorata share of the Percentage Rent prior to receiving the Percentage Rent from the Tenant, and the acceptance or negotiation of any check for Percentage Rent by either party shall not be deemed a waiver of that party’s right to contest the accuracy or amount of the Percentage Rent paid by the Tenant.
Percentage Rent. In addition to the Base Rent, Tenant shall be: (check one) ☐ – Not required to make payments related to Tenant’s sales or revenue (“Percentage Rent”). ☐ – Required to pay [#]% of [TYPE OF SALES] (gross sales, net sales, etc.). Such payment shall be made with a receipt and proof of calculation and paid each: (check one) ☐ Monthly ☐ Quarterly ☐ Annually The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.” 7.
Percentage Rent. For each fiscal year during the Term commencing with the fiscal year in which the Commencement Date falls and ending with the fiscal year in which the Term (including any applicable extensions) ends, Lessee shall pay percentage rent (“Percentage Rent”). Percentage Rent for the applicable Fiscal Year shall be an amount equal to the applicable Annual Revenues Computation (as defined below) less an amount equal to the Base Rent paid with respect to such Fiscal Year. For the purpose of the foregoing calculation: The annual revenues computation (“Annual Revenues Computation”) is equal to the amount obtained by adding, for the applicable Fiscal Year, an amount equal to the sum of (i) seventeen percent (17%) of all Suite Revenues for the applicable Fiscal Year up to the applicable suite revenue breakpoint (the “Suite Revenue Breakpoint”) described in Schedule 3.1(b), attached hereto, (prorated for the first and last Fiscal Year of the Term (including any applicable extensions)) and fifty-five percent (55%) of all Suite Revenues for the applicable Fiscal Year in excess of the applicable Suite Revenue Breakpoint. At the beginning of each Fiscal Year, the Suite Revenue Breakpoints shall be adjusted by the same percentage that the Base Rent is adjusted pursuant to Subsection 3.1(d). The Percentage Rent shall be payable as follows:
Percentage Rent. 3.2.1. In addition to Minimum. Rent Commencing as of the Commencement Date, and subject to the provisions for the Tenant Improvement Allowance in Section 2.1 hereof, Tenant shall pay to Landlord, and Tenant covenants and agrees that Tenant will pay to Landlord during the Term, at the address specified in this Lease for the payment of Minimum rent hereunder or at such other place as Landlord may specify, without any right of set-off, deduction, counter-claim, suspension or abatement (except as otherwise expressly provided in this Lease to the contrary), and without any prior notice or demand the sum of (i) * of its annual Gross Sales which exceed * but are less than * , (ii) * of its annual Gross Sales which exceed * but are less than * and (iii) * of its annual Gross Sales in excess of * . The foregoing is collectively referred to herein as "PERCENTAGE RENT". If Gross Sales for the then current Lease Year through the end of any month exceeds * , Tenant shall pay to Landlord as Percentage Rent, on or before the fifteenth (15th) day of the succeeding calendar month, the product of the amount by which Gross Sales exceeds * , multiplied by the applicable Percentage Rent rate above, less any Percentage Rent payments previously paid by Tenant to Landlord for such Lease Year during the Term and continuing through that month immediately following the date in which the Expiration Date occurs. For the period between the Commencement Date through the next following September 30, Percentage Rent shall be prorated based on the actual number of days in such period. To calculate Percentage Rent for such period, Tenant shall calculate the Percentage Rent that would be due Landlord for the 12-month period following the Commencement Date, and such amount shall be divided by 365, and the resulting number shall be multiplied by the actual number of days in the period beginning on the Commencement Date and ending on September 30 of the same year. Tenant shall pay such Percentage Rent (if any) on or before the fifteenth (15th) day of the month succeeding the month in which such 12-month period terminates.
Percentage Rent. If a lease for which a commission is payable hereunder contains a percentage rent clause, Client shall pay a commission on the percentage rent payable by the tenant at the commission rate applicable to the period of the lease term for which the percentage rent is payable. This commission shall be payable within fifteen (15) days after receipt of each tenant payment to Client.
Percentage Rent. The Tenant must pay % of ☐ ☐ ☐ (gross sales, net sales, etc.). Such payments shall be made, with proof of calculation: (check one) - Monthly - Quarterly - Annually Hereinafter known as the “Percentage Rent.” The Base Rent and the Percentage Rent shall be referred to collectively as the “Rent.”
Percentage Rent. Lessee shall pay, as additional rent, a percentage rent (“Percentage Rent”) calculated as set out below.
Percentage Rent. Any percentage rent payable under each Lease for the year in which the Closing occurs shall be prorated between Seller and Buyer as of the Proration Date. Seller and Buyer acknowledge that sufficient information to enable Seller and Buyer to prorate percentage rent will not be available as of the Closing. Accordingly, the proration contemplated in this Section 11.2(a)(iv) shall be conducted subsequent to the Closing pursuant to Section 11.2(d) hereof.
