Due Rent definition

Due Rent means the sum equal to the total Rent for all Units (but excluding the Rent for the first six (6) weeks that a Unit is vacant whenever a Unit becomes vacant and any further period of time when the Unit is vacant because it is uninhabitable or needs further works)and which would be payable in respect of the Quarterly Period in question in circumstances where all such Units were continuously occupied under a Tenancy Agreement throughout that Quarterly Period;
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Examples of Due Rent in a sentence

  • Subsequent to the Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs and expenses together with any Past Due Rent actually collected by the Buyer less all fees and expenses incurred by the Buyer in collecting such monies.

  • If any Past Due Rent is not paid to Seller within sixty (60) days after Closing, Seller shall have the right to attempt to effect collection by litigation or otherwise so long as Seller does not take any action to terminate the tenant’s lease or right to possession.

  • Subsequent to the Core Portfolio Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs and expenses together with any Past Due Rent actually collected by the Buyer less all fees and expenses incurred by the Buyer in collecting such monies.

  • Subsequent to the HUD Portfolio Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs together with any Past Due Rent actually collected by the Buyer less any fees and expenses incurred by the Buyer in collecting such monies.

  • Buyer shall cooperate with Seller in its efforts to collect Past Due Rent but shall not be required to incur any cost with respect to such cooperation or take any action against any tenant to terminate the tenant’s lease or right to possession.

  • Notwithstanding anything contained herein, in the event Subtenant does not exercise both of its renewal options under the Sublease, Guarantor’s obligation for the Past Due Rent that would otherwise be payable following the expiration of the term of the Sublease (unless the term of the Sublease terminates early due to a default by Subtenant, in which event Interest/Penalties would be due) shall not exceed the amounts set forth in paragraph 4(b) of the Sublease.

  • Therefore, if any installment of Past Due Rent shall be subject to pay to City an additional sum of five percent (5%) of the Past Due Rent as a late charge.

  • Any Past Due Rent shall bear interest thereon from the Due Date until paid, at the rate of 10% per annum.

  • Tenant and Landlord hereby agree that the Abated Rent shall be applied against and thereby reduce, as of the date of this Amendment, the amount of Pre-Amendment Past Due Rent (as defined in Paragraph 5 below).

  • In addition to the Rent, Subtenant shall pay to Landlord the Past Due Rent (without including Interest/Penalties) in thirty-six (36) equal monthly installments, commencing upon the Commencement Date, of $31,057.33 per month.

Related to Due Rent

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Basic Rent means the rent payable for the Aircraft pursuant to Section 3.2.1(a) of the Lease.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.