Base Rent Divider definition
Examples of Base Rent Divider in a sentence
At such time as Seller provides Purchaser with a new lease for any portion of the Vacant Space (and such new occupant has satisfied the Occupancy Conditions), Purchaser shall, upon ten (10) days advance written notice from Seller, pay to Seller a portion of the Unfunded Purchase Price in an amount equal to the annual base rent payable under said new lease (such base rent in no event to exceed 110% of the pro forma annual base rent for such space per the attached Exhibit B) divided by the Base Rent Divider.
The Unfunded Purchase Price shall be calculated by dividing the aggregate pro forma annual base rent (per the attached Exhibit B) for the space within the Property for those tenants that do not then satisfy the Occupancy Conditions (the “Vacant Space”), by the Base Rent Divider.
When the tenant under the Vacant Space Lease becomes a Rent Paying Tenant, that portion of the Earnout Purchase Price attributable to that tenancy would be $993,430.12 (i.e., $100,000.00 less $10,000.00, with such result being divided by the Base Rent Divider).
Subject to the terms of Exhibit L attached hereto, the Unfunded Purchase Price shall be calculated by dividing the aggregate pro forma annual base rent (per the attached Exhibit B) for the space within the Property for those tenants that do not then satisfy the Occupancy Conditions (the “Vacant Space”), by the Base Rent Divider.
Lender shall make periodic disbursements ("Periodic Disbursements") in amounts equal to ninety percent (90%) of the quotient obtained by dividing the annual base rent payable by tenants under applicable leases which have satisfied each of the Occupancy Conditions (as of the date of the request for such Periodic Disbursement) by the Base Rent Divider.