Current Base Rent definition
Examples of Current Base Rent in a sentence
The "Current Base Rent Amount" means the scheduled annual base rent payable under this Lease as of the date of closing, without any deductions, offsets or abatements of any type, and including, without limitation, scheduled annual base rent payable in connection with any other space leased or agreed to be leased from Landlord in a new building or new buildings, or an enlargement of the Building, on the Premises.
If the Current Premises Income exceeds [***] per rentable square foot on the Effective Date, Landlord shall determine the amount of Landlord Provided Power and the resulting amount of Current Base Rent and shall provide written notice to Tenant Parent and Tenant of such determination (an “Increased Base Rent Notice”) within sixty (60) days after the Effective Date.
Each annual Rent increase shall be computed by multiplying the Current Base Rent times the percentage change in CPI.
As a hypothetical example, if the second (2nd) Purchase Option is validly exercised, the Current Base Rent Amount is $3.75 Million, and as of the closing the Existing Mortgage Balance is $20 Million, then the cash portion of the purchase price payable to Landlord would be only $11.875 Million and Tenant would repay or assume the existing $20 Million mortgage loan secured by the Premises, for a total purchase price of $31.875 Million.
With the first monthly Base Rent payment due following the Increased Base Rent Notice, Tenant shall also pay the unpaid portion of the Current Base Rent for the period prior to such month.
If the monthly Base Rent shall, from time to time, increase during the term of this Lease, Lessee shall, at the time of such increase, deposit with Lessor additional money as a security deposit so that the total amount of the security deposit held by Lessor shall at all times bear the same proportion to the than Current Base Rent as the initial security deposit bears to the Initial Base Rent set forth in paragraph 1.6 of the Basic Lease Provisions.
The Additional Base Rent will be deemed excluded from the "Current Base Rent Amount" when calculating the purchase price under any of the Purchase Options described in Addendum #4 to the Lease.
Commencing with the first lease month at least five (5) business days following receipt of the Increased Base Rent Notice, Tenant shall pay the Current Base Rent at the increased rate set forth in the Increased Base Rent Notice.
Investment Summary ▇▇▇▇ ▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, MO 64083 Financial Snapshot Price: Square Feet: Price PSF: Cap Rate: Current Annual NOI: Current Base Rent: $4,450,000 8,281 $537.37 6.15% $273,744 $33.06 psf Investment Summary This is a net lease investment opportunity for a free-standing building occupied by Big O Tires®.
Current Base Rent: $1,344,459.72 per year; $112,038.31 per month for the period from 11/2/09 to 11/1/10.