Deferred Maintenance Credit definition
Deferred Maintenance Credit means $1,700,000.
Examples of Deferred Maintenance Credit in a sentence
For the Initial Term as defined in Section 1, City agrees to pay District as rent the annual amount calculated as follows: Base rent of $67,145, (Base Rent) reduced by a $5,000 credit for performing deferred maintenance (Deferred Maintenance Credit) as defined in 7.C. below, and further reduced by $16,000 as an agreed upon credit for major maintenance (Major Maintenance Credit) during the Initial Term, resulting in a rent of $46,145 for the first year of this agreement.