Common use of Replacement Minimum Rent Clause in Contracts

Replacement Minimum Rent. Lessee shall pay to Lessor, without notice, demand, set off or counterclaim, in advance the annual sum set forth on Schedule 1 attached hereto under the heading “Replacement Minimum Rent” for the Nittany Valley Lease (as such amount shall be increased annually pursuant to Section 2.5(b), the “Replacement Minimum Rent”). The Replacement Minimum Rent shall be payable in advance in equal, consecutive monthly installments, beginning on the Effective Date and continuing on the first day of each calendar month thereafter until the final payment to be made on June 1, 2009. The Replacement Minimum Rent shall be prorated as to any partial month and shall be payable to Lessor in the same manner and location as the Minimum Rent.