Examples of Annual Rent in a sentence
During the Lease Term, the Lessee must pay to the Lessor Annual Rent for the Premises in the aggregate annual amount of One Hundred Thousand Dollars ($100,000.00) (as adjusted for CPI if provided below) payable on the last day of each Lease Year.
The Annual Rent will automatically increase effective as of the beginning of the second Lease Year and annually thereafter during the Lease Term to reflect the proportionate cumulative increase in the CPI, if any, during the previous Lease Year.
If, at the time of Damage giving rise to Loss of Rent, the Sum Insured declared by the Insured in respect of Rent Receivable is less than the Annual Rent Receivable (or a proportionately increased multiple thereof where the Maximum Indemnity Period exceeds twelve (12) months), the Insurer’s liability will be proportionately reduced.
In the event total Percentage Rent remitted in a given Lease Year exceeds the Annual Rent due that year, no Annual Rent is due.
The Annual Rent Receivable and Rent Receivable are subject to such adjustments as may be necessary to provide for the trend of the Business and for variations in or other circumstances affecting the Business so that the figures thus adjusted shall represent as nearly as may be reasonably practicable the results which but for the Incident would have been obtained during the relative period after the date of the Incident.