Construction Rent definition
Construction Rent has the meaning set forth in §2.1.
Construction Rent has the meaning provided in Section 3.2(b).
Construction Rent shall be based upon the amount of Landlord’s Additional Contribution. Tenant’s monthly payments of Construction Rent shall be equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord’s Additional Contribution, together with interest at the rate of eight percent (8%) per annum, on a level direct reduction basis over a one hundred twenty (120) month period.
Examples of Construction Rent in a sentence
Base Rent, Construction Rent, and any other amounts due and payable by ▇▇▇▇▇▇ to the Town hereunder (“Additional Rent”) are hereinafter referred to as “Rent”.
Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, termination of the Lease).
The final payment of Construction Rent shall be paid on the final day of the Construction Term.
Landlord will provide Tenant an informational copy of a Construction Rent invoice prepared in accordance with the terms of the Term Sheet each month.
Landlord shall make the calculation of Construction Rent as soon as the Construction Principal is actually determined, and Landlord shall advise Tenant thereof.
More Definitions of Construction Rent
Construction Rent has the meaning set forth in Section S(b) of this Agreement.
Construction Rent shall be payable by Tenant to Landlord commencing as of the first date Landlord provides any portion of Landlord’s Additional Contribution, and continuing on the first day of each month thereafter throughout the Term of the Lease. Construction Rent shall be based upon the amount of Landlord’s Additional Contribution so provided. Tenant's monthly payments of Construction Rent shall be equal to the amount which would be necessary to repay a loan in the amount of Landlord’s Additional Contribution (or so much thereof as has been disbursed), in equal monthly payments of principal and interest, on a direct reduction basis over the sixty-six-(66)-month Term of the Lease with respect to the Office Premises with interest at the rate of ten (10%) percent per annum.
Construction Rent. See Section 5.2.
Construction Rent shall be the aggregate amount equal to the payments of principal and interest which would be necessary to repay a loan in the amount of the EP Supplemental Allowance, together with interest at the rate of eight (8%) percent per annum, on a level direct reduction basis over the period commencing as of the Expansion Premises Rent Commencement Date and ending as of the expiration of the initial Term of the Lease. Monthly payments of Construction Rent shall be payable at the same time and in the same manner as Basic Rental is payable under the Lease. Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, untenantability of the Premises or termination of the Lease). Without limiting the foregoing, the rent abatement provisions of Articles 11, 15 and 18 of the Lease shall not apply to Construction Rent. Since the payment of Construction Rent represents a reimbursement to Landlord of costs which Landlord will incur in connection with the performance of the Expansion Premises Improvements, if there is any monetary or material, non-monetary default of any of Tenant’s obligations under the Lease (including, without limitation, its obligation to pay Construction Rent), or if the Term of this Lease is terminated for any reason whatsoever prior to the expiration of the Term of the Lease, Tenant shall pay to Landlord, immediately upon demand, the unamortized balance of the EP Supplemental Allowance. Tenant’s obligation to pay the unamortized balance of the EP Supplemental Allowance shall be in addition to all other rights and remedies which Landlord has based upon any default of Tenant under the Lease, and Tenant shall not be entitled to any credit or reduction in such payment based upon amounts collected by Landlord from reletting the Premises after the default of Tenant.
Construction Rent shall be the monthly payments, based upon the Elected Amount of Additional Allowance, equal to the monthly payment of principal and interest which would be necessary to repay a loan in the amount of the Elected Amount, together with interest at the rate of eight percent (8%) per annum, on a level direct reduction basis over the period commencing as of the Construction Rent Commencement Date and ending as of the expiration of the Initial Term of the Lease.
Construction Rent means a monthly sum equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord's Additional Contribution paid to Tenant, together with interest at the rate of eight (8%) percent per annum, on a level direct reduction basis over the Initial Lease Term (commencing as of the Rent Commencement Date). Construction Rent shall be treated as Additional Rent under the Lease. Landlord will deliver to Tenant a statement setting forth the Construction Rent. Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, termination of the Lease). In the event of any termination of this Lease, the outstanding balance of Landlord's Additional Contribution, plus all unpaid interest earned thereon shall become automatically due and payable as of the date of such termination.
Construction Rent means (i) for the first six (6) months of the Lease Term, 5.5% of the Construction Costs for the First Phase Work, (ii) for the second six (6) months