Adjusted Minimum Rent definition

Adjusted Minimum Rent means the Minimum Rent as increased in accordance with this Article to reflect any increase in Taxes and Building Operating Costs. Tenant shall pay such increases as additional rent as hereinafter provided.
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Adjusted Minimum Rent. Means for the Lease Year commencing February 1, 2009 and ending on January 31, 2010, the greater of (i) the Minimum Rent for the immediately preceding Lease Year plus the Incremental Minimum Rent, if any, determined with respect to the immediately preceding Lease Year or (ii) the Fair Market Rent of the Leased Property as of the Lease Year commencing February 1, 2009.
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Adjusted Minimum Rent. Means the greater of (i) the Minimum Rent for the eighth (8th) Lease Year plus the Incremental Minimum Rent, if any, determined with respect to the eighth (8th) Lease Year or (ii) the fair market rental value of the Leased Property at the end of the eighth (8th) Lease Year, as may reasonably be determined by Landlord and Tenant or, if Landlord and Tenant are unable to agree, as determined pursuant to the appraisal process set forth on Exhibit C.
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Examples of Adjusted Minimum Rent in a sentence

  • The Adjusted Minimum Rent shall be computed based on the increase in the Consumer Price Index - U.S. City average - All Urban Consumers ("Index") as published by the United States Department of Labor's Bureau of Labor Statistics over the base period index.

  • Tenant's failure to timely deliver such statement shall be conclusive upon Tenant: (a) that this Lease is in full force and effect, without modification except as may be represented by Landlord; (b) that there are no uncured defaults in Landlord's performance and Tenant has no right of offset, counterclaim, defenses or deduction against the Minimum Rent, Adjusted Minimum Rent, additional rent or against Landlord; and (c) that no more than one month's installment of Minimum Rent has been paid in advance.

  • Tenant agrees that it will not be relieved of the obligations to pay the Minimum Rent, Adjusted Minimum Rent or any additional rent in case of damage to or destruction of the Building, except as provided in Article 9 of the printed portion of this Lease.

  • After this Lease has been in effect for 60 months, the Minimum Rent shall be adjusted once thereafter by taking the Minimum Rate then in effect and multiplying it by the cumulative percentage change in the U.S. Consumer Price Index for the prior 60-month period, and adding the result of such calculation to the previous Minimum Rent ("Adjusted Minimum Rent").

  • The minimum annual rent is subject to adjustment every five (5) years during the term of this Lease, with each adjustment to commence on March 1 of the year of adjustment ("Adjusted Minimum Rent").

  • All or any portion of the Renovation A Credit that is not utilized by Tenant as of ninety (90) days after the Expansion Space A Inclusion Date shall be forever forfeited and may not be applied against any payment of Minimum Rent, Adjusted Minimum Rent or additional rent due under the Lease.

  • Provided, prior to December 1, 2005, Tenant has not breached any material term of the Lease (after receipt of any required written notice and beyond the expiration of any applicable grace period), then, Landlord agrees that the monthly installment of Adjusted Minimum Rent due on December 1, 2005 for December, 2005 shall be waived.

  • The Operating Statement shall indicate (i) the intial additional amount required to be paid by Tenant as additional rent as in this Article provided; (ii) the Tenant's new Adjusted Minimum Rent; and (iii) the manner in which such adjustment is computed.

  • If, however, it has been adjudged that the Actual Contraction Date failed to occur before either July 1, 1999 or July 1, 2001, as the case may be, solely due to the gross negligence of Landlord, then, notwithstanding the immediately preceding sentence, for each day during the period either July 1, 1999 through the Actual Contraction Date or July 1, 2001 through the Actual Contraction Date, as the case may be, Tenant shall pay 100%, not 200%, of the Adjusted Minimum Rent for said period.

  • Tenant agrees that it will not be relieved of the obligations to pay the Minimum Rent, Adjusted Minimum Rent or any additional rent in case of damage to or destruction of the Building, except as provided in Article 9 of the Printed Portion of this Lease.