Initial Rent Payment definition
Examples of Initial Rent Payment in a sentence
If written notice of cancellation is received less than 180 days prior to the contracted event, but more than 90 days prior to the contracted event, Goodwood shall retain 75% of the Initial Rent Payment, the remaining 25% shall be returned to the Renting Party.
If written notice of cancellation is received by the Director of Rentals and Special Events at least 270 days prior to the contracted event, 100% of the Initial Rent Payment shall be returned to the Renting Party.
If the contracted event is cancelled less than 90 days prior to the event, the entire Initial Rent Payment shall be retained by Goodwood.
If the Initial Rent Payment was in excess of rent due based on Final Gross Revenue, then the difference shall be a payment due from Lessor to Lessee.
Lessor shall hold the Initial Rent Payment available for expenditure from time to time in accordance with that certain Master Agreement dated this date by and among Lessor, GICI, Lessee and others (the "Master Agreement").
Tenant shall pay to Landlord throughout the Term the base rent (“Base Rent”) as specified in Section 1.4, payable in monthly installments in advance commencing on the Commencement Date and continuing on or before the first day of each calendar month thereafter (except as otherwise provided herein); provided that the amount specified in Section 1.4 as the Initial Rent Payment shall be paid by Tenant upon Tenant’s execution of this Lease.
On November 30 of the calendar year following each Crop Year, an adjustment payment will be made representing the difference between Initial Rent Payment and the final rent due.
Upon satisfaction or waiver by the benefitted party (identified below) of the contingencies described below (the “Contingencies”), on a date mutually agreed by County and Developer, in no event more than 30 days after the date of satisfaction of the Contingencies, unless mutually agreed by County and Developer: the Developer shall pay the Initial Rent Payment to County, County and Developer shall execute the Ground Lease, and Developer shall take possession of the leasehold under the Ground Lease.
Associates shall disburse the Initial Rent Payment to Westgroup upon Associates' receipt of Westgroup's written requests for such disbursement from time to time until the first anniversary of the Closing Date.
As more particularly set forth in the Lease, Westgroup is obligated to pay to Associates at Closing the sum of $1,000,000 in cash as the "Initial Rent Payment.