Amortized Rent definition

Amortized Rent in the amount of USD $7,515.93 (seven thousand five hundred and fifteen dollars 93/100, legal currency of the United States of America) each one, plus the applicable VAT. The Amortized Rent is calculated at a monthly rate of USD $0.0747, legal currency of the United States of America, per square feet of Rentable Area, plus the applicable VAT. Both the Base Rent and Amortized Rent, in the total monthly amount of USD $60,439.37 (sixty thousand four hundred and thirty-nine dollars 37/100, legal currency of the United States of America) plus VAT, hereinafter referred to as the “Rent”.
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Amortized Rent. In addition to the improvement allowance described above, at Tenant's request, Landlord shall make available to Tenant an additional sum in an amount of up to $970,000 (the "Additional Allowance") to be used by Tenant to make pre-approved permanent improvements to the Premises (but not to purchase and equipment or trade fixtures). The amount of the Additional Allowance provided to Tenant shall be repaid to Landlord in the form of "Amortized Rent", which shall be computed by amortizing the amount so paid by Landlord over the initial Lease Term at 9% interest per annum. The Amortized Rent will be due and payable commencing on December 1, 2004 (or on the first of the month on which all improvements have been completed) and thereafter on the first day of each month without demand, but will not escalate each year with the Base Rent. The Additional Allowance shall be paid to Tenant as improvements are made (but not more than once per month). Landlord shall make payments to Tenant within 10 calendar days after Tenant submits to Landlord appropriate documentation of Tenant's costs (including a certificate from Tenant's architect and lien waivers covering the work for which payment is requested) from all contractors and subcontractors performing work at the Premises.
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Examples of Amortized Rent in a sentence

  • Such amount shall be due and payable in equal monthly installments ("Monthly TI Amortized Rent") concurrently with Tenant's payments of Monthly Basic Rent under the Lease.

  • The Fixed Annual Rent, which includes Additional Amortized Rent, is set forth on Exhibit C and Exhibit C-1 annexed hereto and made a part hereof.

  • Subject to the terms and conditions of this Lease, the Base Rent and Amortized Rent for the Premises shall be as set forth in Article 1 of this Lease.

  • Tenant shall provide Landlord with written notice at least 90 days in advance of the lease expiration (or expiration of subsequent option periods) of Tenant's intention to exercise each of Tenant's Three-Year Options to Renew lease.

  • Any amount not timely refunded to Tenant may, at Tenant's option and not as its exclusive remedy, be offset against Base Rent and Amortized Rent due hereunder.

  • Tenant shall, at Tenant's sole cost and expense, purchase and maintain in full force and effect a policy of rental loss insurance, in an amount equal to the amount of Rent, Amortized Rent and Additional Rent, commencing on the date of loss for the next ensuing one (1) year, with proceeds payable to Landlord ("Loss of Rents Insurance").

  • If the entire Construction Allowance is not utilized, then the Additional Amortized Rent shall be recalculated to account for the actual amount of the Construction Allowance utilized in connection with the preparation and/or revision of the Proposed Plans, the Final Plans, the Construction Plan, and/or to obtain the Building Permits, the Temporary Occupancy Permits and/or the Final Occupancy Permits, and/or to perform the Initial Work and/or as otherwise utilized in accordance with the terms of this Lease.

  • Tenant shall pay Base Rent and Amortized Rent on the first day of each month during the Lease Term in the monthly installments set forth in Article 1 or as otherwise required herein, except that Base Rent and Amortized Rent for any portion of a calendar month during the Lease Term shall be prorated by dividing the annual Base Rent and Amortized Rent by three hundred sixty-five (365) and multiplying the result by the number of days in the partial month for which Base Rent and Amortized Rent is owed.

  • If Landlord advances any or all of the Additional Tenant Improvement Allowance, as provided in Section 8.3 hereof, then, in addition to Base Rent, Tenant shall thereafter pay to Landlord an Additional TI Allowance Amortized Rent (as defined below) in equal monthly installments, commencing on the first day of the calender month that follows such advance on or before the first day of each and every calender month during the Lease Term, without any setoff or deduction whatsoever.

Related to Amortized Rent

  • Capitalized Rentals of any Person shall mean as of the date of any determination thereof the amount at which the aggregate Rentals due and to become due under all Capitalized Leases under which such Person is a lessee would be reflected as a liability on a consolidated balance sheet of such Person.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.