Percentage Rent Adjustment Sample Clauses

Percentage Rent Adjustment. To the extent the sum of all interim payments on account of Percentage Rent collected by the Partners from each Tenant for the Applicable Percentage Rent Fiscal Year exceeds the amount of Percentage Rent to which the Partners are entitled with respect to such Tenant pursuant to Subsection 2.3(i)(iii), the Partners shall pay such excess to Buyer. To the extent the sum of all interim payments on the account of Percentage Rent collected by Buyer from each Tenant for the Applicable Percentage Rent Fiscal Year exceeds the amount of Percentage Rent to which Buyer is entitled with respect to such Tenant, then Buyer shall pay such excess to the Partners. Any such adjustment of interim payments received and actual Percentage Rent payable shall be made on a Lease-by-Lease basis (as opposed to aggregating all interim payments received by the Partners from all Tenants and offsetting the same against the entire amount of Percentage Rent payable by all Tenants). If the total sum of the interim payments on account of Percentage Rent collected by the Partners plus the interim payments on account of Percentage Rent collected by Buyer exceeds the Percentage Rent actually due from the Tenant, Buyer shall remit or credit Tenant with such excess and the Partners and Buyer shall make any necessary adjustment between them in accordance with the preceding provisions of this Subsection 2.3(m)(iii).
Sample 1
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Percentage Rent Adjustment. On each Adjustment Date (except as provided in Section 4.4) the rent shall be increased to an amount equal to the greater of: (a) the product of the rent for the immediately preceding Lease Year, multiplied by the "CPI Multiplier" (as hereinafter defined); or (b) the product of the rent for the immediately preceding Lease Year, multiplied by 1.03. The product of that multiplication will be the amount of the rent payable during that Lease Year, subject to any adjustment pursuant to Article 13. Upon determining the rent adjustment, the Aviation Department shall advise Lessee of the new rent and the monthly installment amount of rent. In no event will any adjusted rent established under this Section 4.3 be less than the total rent due during the immediate prior Lease Year.
Sample 1
Percentage Rent Adjustment. On each Adjustment Date other than the first day of the eleventh (11th) Lease Year, the first day of the twenty‐first (21st) Lease Year, and the first day of the thirty‐first (31st) Lease Year, which are adjusted pursuant to Sections 4.4 through 4.10, the rent shall be increased to an amount equal to the greater of: (a) the product of the rent for the immediately preceding Lease Year, multiplied by the "CPI Multiplier" (as hereinafter defined); or
Sample 1
Percentage Rent Adjustment. Upon at least one hundred eighty (180) days prior notice to LESSEE, CITY may, at its option, adjust the Percentage Rent upward, and upward only, to be effective as of the first day of the eleventh (11th) and twenty-first (21st) Lease Years.
Sample 1

Related to Percentage Rent Adjustment

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, ("Code")), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers ("Effective Rate") is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • 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.”

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • Payment Adjustments Notwithstanding anything to the contrary in this Article 3, any payment pursuant to this Article: (a) shall be subject to (i) any delay in payment or reduction required by Section 5.2 hereof, and (b) shall be subject to a set-off equal to the gross amount of any current or deferred compensation, including wages, salary, fees, benefits, tangible or intangible property or ownership rights or interests or other property rights, received by Executive or which he becomes entitled to receive in the future as remuneration for services to any Person, business or other entity as a result of, or in exchange for, any work or services performed, or any intellectual property conveyed by Executive, during the Restricted Period (“Remuneration”), provided that the foregoing provision shall in no way limit or impair Executive’s obligations or the Bank’s rights under Article 3 or Article 4 of this Agreement. Executive understands and agrees that the Bank’s set-off rights will accrue, and any set-off pursuant to this provision will be applied to any non-compete payments due (or previously paid or accrued), after the earlier of Executive’s receipt or accrual of Remuneration (the Set-off Date), and if Executive is not entitled to further payments under this Agreement, Executive agrees to refund the setoff amount in full to the Bank within fourteen (14 days) of Executive’s Certification reporting such remuneration or the Set-off Date, whichever is later.

  • Subsequent Adjustments In the event that the Assuming Institution or the Receiver discovers any errors or omissions as contemplated by Section 8.2 or any error with respect to the payment made under Section 8.3 after the Settlement Date, the Assuming Institution and the Receiver agree to promptly correct any such errors or omissions, make any payments and effect any transfers or assumptions as may be necessary to reflect any such correction plus interest as provided in Section 8.4.

  • Direct Expenses 1. Fees and expenses of its directors (except the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

  • Base Year The period beginning on 1 April of one year and ending on 31 March of the following year.

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

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