Examples of Annual Rent in a sentence
For the Extended Term, Item 3 of the Basic Lease Provisions and Paragraph 2(a) of the Existing Lease are hereby amended to provide that the Initial Basic Annual Rent applicable to the first year of the Extended Term shall be Four Hundred Twenty-two Thousand Two Hundred Eighty-five and 40/100 Dollars ($422,285.40) (i.e., $16.20 NNN per square foot of Rentable Area annually).
Such Fixed Annual Rent shall be payable in equal monthly installments in advance on the first (1st) day of each calendar month during the Term.
If the Commencement Date does not occur on the first (1st) day of a month, then Fixed Annual Rent for the month in which the Commencement Date occurs shall be prorated and paid on the Commencement Date.
If, as a result of such damage to the Building or to the core and shell of the Premises or Building Systems serving the Premises, the Premises are rendered Untenantable, the Fixed Annual Rent and Recurring Additional Rent shall abate in proportion to the portion of the Premises not usable by Tenant from the date of such fire or other casualty until Landlord’s Restoration Work is substantially completed.
All sums other than Fixed Annual Rent payable to Landlord hereunder shall be deemed to be “Additional Rent” and shall be payable within thirty (30) days after demand, unless other payment dates are hereinafter provided.