Availability Rent definition
Availability Rent means the lesser of (1) rent for two months and (2) rent for the projected “going out of business sale” period for Inventory at leased locations as set forth in the most recent appraisal of Inventory received by the Administrative Agent.
Examples of Availability Rent in a sentence
In the event that, concurrently with Tenant’s delivery of the Acceptance Notice, Tenant notifies Landlord that it does not accept the Availability Rent set forth in the Availability Notice, the Availability Rent shall be determined in accordance with the procedures set forth in SECTION 2.2.2 of this Lease, otherwise, the Availability Rent shall be as set forth in Landlord’s Availability Notice.