Examples of Lease Termination Payment in a sentence
The Lease Termination Payment shall be paid in U.S. funds by wire transfer.
Within three (3) business days following the Effective Date, Tenant shall pay to Landlord in immediately available funds a portion of the Lease Termination Payment in the amount of Four Million Three Hundred Thousand and 00/100 Dollars ($ 4,300,000.00) (the “Initial Payment”); provided that Tenant shall have the right to deduct from the Initial Payment the amount of Nine Hundred Thousand Sixty and 68/100 Dollars ($910,060.68), which constitutes the amount of Rent received by Landlord for December 2022.
Landlord and Tenant agree that the amount of the security deposit held by the Landlord under the Lease is One Hundred Seventy Four Thousand Two Hundred Fifty Dollars ($174,250.00), and that such amount shall be retained by the Landlord as payment of the seventh, eighth and ninth Monthly Lease Termination Payments and partial payment of the tenth Monthly Lease Termination Payment (leaving a balance of $25,750).
If such tenant remits the Lease Termination Payment in excess of $100,000.00 directly to Borrower, Borrower shall remit the Lease Termination Payment to Lender, for application as set forth below.
The Lease Termination Payment shall be due, payable, and paid by Tenant to Landlord on the later of (i) January 5, 2024, or (ii) within five (5) Business Days following the Effective Date.