Area Rent definition
Examples of Area Rent in a sentence
This adjustment shall be calculated by means of the following formula: Where: X = Adjusted Ready Car Parking Area Rent, Common Area Rent, or Overflow Parking Rent A = Prevailing Ready Car Parking Area Rent, Common Area Rent or Overflow Parking Rent B = Monthly index for the fourth month prior to the month in which each rent adjustment is to become effective C = Monthly index for the month in which this Lease is signed by COUNTY and thereafter on each successive anniversary of the date the Lease was signed.
Notwithstanding the foregoing, in no event shall the Ready Car Parking Area Rent, Common Area Rent, or Overflow Parking Rent be reduced by any such adjustment.
TENANT shall submit on or before the first day of each month, payable monthly in advance, payment of Ready Car Parking Area Rent, Common Area Rent and Overflow Parking Rent as provided in Section 4.01 (RENT).
On December 1, 2020, and annually thereafter, Ready Car Parking Area Rent, Common Area Rent and Overflow Parking Rent, if applicable, shall be automatically adjusted in proportion to changes in the Consumer Price Index for Los Angeles-Long Beach-Anaheim (All Urban Consumers - All Items) promulgated by the Bureau of Labor Statistics of the U.S. Department of Labor.
Should this Lease be terminated during an annual period, or should the first Annual Period be other than a full calendar year, the applicable MAG, Ready Car Parking Area Rent, Common Area Rent, and Overflow Parking Rent shall be prorated on the basis of a three hundred sixty (360) day year.
A = Ready Car Parking Area Rent, Common Area Rent or Overflow Parking Rent identified in Section 4.01 (B)(C)(D) and thereafter the adjusted Ready Car Parking Area Rent, Common Area Rent or Overflow Parking Rent for the prior Annual Period.
On December 1, 2024, and annually thereafter, the Ready Car Parking Area Rent, Common Area Rent and Overflow Parking Rent, if applicable, shall be automatically adjusted in proportion to changes in the Consumer Price Index for Los Angeles-Long Beach-Anaheim (All Urban Consumers – All Items) promulgated by the Bureau of Labor Statistics of the U.S. Department of Labor.
This adjustment shall be calculated by means of the following formula: Where: X = Adjusted Ready Car Parking Area Rent, Common Area Rent, or Overflow Parking Rent.
The Construction Staging Area Rent shall be payable within sixty (60) days after commencement of construction of the Construction Staging Areas, as determined when earth-moving equipment breaks ground on the Construction Staging Areas.
Notwithstanding the foregoing, if Tenant fails twice during any Lease Year to pay any Net Rent, Capital Costs, Common Area Rent, Additional Rent or other amount when due, then any subsequent failure to pay Net Rent, Capital Costs, Common Area Rent, Additional Rent or other amount when due during such Lease Year shall constitute a Tenant Default immediately upon occurrence, irrespective of whether or not Tenant has received written notice thereof.