Minimum Annual Rental. (as defined in Section 7.2) and "Additional Rental" (as defined in Section 7.4) based on such actual Floor Area.
Minimum Annual Rental. [***] per year. The Minimum Annual Rental stated in this Section is based upon an "all in" rent of [***] per square foot of Floor Area and an initial estimated Floor Area of 5,000 square feet. Said rental amount is based upon a starting annual rental of [***] per square foot plus [***] per square foot for all other charges including, without limitation, Tenant's share of Operating Costs, CAM and Taxes (including all real property taxes assessed against the Project and the Premises, subject to Section 2.12), marketing and advertising contributions, and insurance costs; provided, however that the foregoing shall exclude real and personal property taxes, if any, levied upon Tenant's improvements (including, without limitation, Tenant's FF&E and Tenant's contents and liability insurance, both of which shall be paid separately by Tenant). Upon the determination of the final Floor Area of the Premises pursuant to Section 3.2, the amount stated in this Section shall be adjusted to equal the amount of [***] per square foot multiplied by that final Floor Area. On each anniversary of the Rent Commencement Date, the "all in" Minimum Annual Rental shall be increased by the percentage increase in the Index, as defined in Section 5.8 and as provided in Section 5.2 (such increase not to exceed 3%) over the Index for the prior year, provided, however, that upon the commencement of the [***] anniversary of the Rent Commencement Date, the Minimum Annual Rental (as adjusted by the Index in prior years) shall be increased to the greater of (i) [***] of the rent on the Rent Commencement Date, or (ii) the rent for the prior year adjusted by the percentage increase in the Index (not to exceed [***]).
Minimum Annual Rental. Tenant shall pay as rental the Minimum Annual Rental specified and defined in Section 1.6 in advance and without notice or invoice, on the first day of each calendar month. Minimum Annual Rental for any fractional calendar month at the beginning or end of the Lease Term shall be prorated on the basis of the number of days in that particular calendar month and if the Rent Commencement Date occurs on other than the first day of a calendar month, the prorated rent for that calendar month plus the rent for the succeeding calendar month shall be paid in advance on the Rent Commencement Date. On each anniversary of the Rent Commencement Date during the Lease Term, the Minimum Annual Rental shall be increased (but never decreased) in accordance with the procedure described in Section 5.8 (for which purposes "Base Amount" shall mean the Minimum Annual Rental specified in Section 1.6 on the Rent Commencement Date and the fifth anniversary of the Rent Commencement Date depending on the period of adjustment, "Base Month" shall mean the month in which the Rent Commencement Date and the fifth anniversary of the Rent Commencement Date depending on the period of adjustment occurs, and "Month of Adjustment" shall mean any month in which the Minimum Annual Rental is to be increased pursuant to this Section).
Examples of Minimum Annual Rental in a sentence
Tenant shall not be entitled to any damages or to reduction in Minimum Annual Rental, Percentage Rental or Additional Rental for any interference or interruption of Tenant's business upon the Premises or for any inconvenience caused by such construction work.
If, as a result of Landlord utilizing a portion of the Premises for such purpose, there is a permanent increase or decrease in the Floor Area of the Premises of one percent (1%) or more, there shall be a proportionate adjustment of Minimum Annual Rental and all other charges based on Floor Area.
During the last ninety (90) days of the term, if during or prior to that time Tenant has vacated the Demised Premises, to decorate, remodel, repair, alter or otherwise prepare the Demised Premises for re-occupancy, without affecting Tenant's obligation to pay Minimum Annual Rental, Additional Rent and all other sums due under the terms of this Lease.
Landlord shall have the same rights and remedies for the nonpayment of Additional Rental as it has with respect to the nonpayment of Minimum Annual Rental.
Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
More Definitions of Minimum Annual Rental
Minimum Annual Rental. For the purposes hereof, "Minimum Annual Rental" shall mean the amount provided in this Section 301, adjusted as provided in this Lease.
Minimum Annual Rental means the amount provided in this Section 301, adjusted as provided in this Lease.
Minimum Annual Rental the sum set forth in the Data Sheet for each lease year during the Term in 26 equal consecutive monthly installments in advance on or before the first day of each month, without prior 27 demand or notice. Minimum Annual Rental, Percentage Rental, Additional Rent and all other sums 28 payable to Landlord pursuant to this Lease shall be paid to Landlord in currency of the United States or 29 other customary commercial manner at the address set forth in the Data Sheet under “Address for Rental 30 Payments,” or such other place as Landlord may designate, without any deductions or offsets whatsoever. 32 (b) Should the Rental Commencement Date occur on a day other than the first day of a 33 calendar month, then the Minimum Annual Rental for such fractional month shall be one three hundred 34 sixty-fifth (1/365th) of the Minimum Annual Rental multiplied by the number of days remaining in the 35 month. Should any lease year contain less than twelve (12) calendar months, said Minimum Annual 36 Rental shall be prorated.
Minimum Annual Rental. The Minimum Annual Rental is One Hundred Seventy Five Thousand Dollars ($175,000.00), which is computed as $17.50 per square foot. Minimum Annual Rental is payable as stated in Section 4.1.
Minimum Annual Rental. Lease Years 1-5: $25/per square foot ($450,000.00 per annum) Lease Years 6-10: $28.15/per square foot ($506,700.00 per annum) Lease Years 11-15: $31.60/per square foot ($568,800.00 per annum) Option Years 16-20: $35.60/per square foot ($640,800.00 per annum) Option Years 21-25: $40.05/per square foot ($720,900.00 per annum) Option Years 26-30: $45.06/per square foot ($811,080.00 per annum) Rental Basis: Per Square Foot (Section 5.01)
Minimum Annual Rental shall be increased each subsequent year thereafter by the greater of an equal amount to three percent (3%) of the minimum annual rental over the immediate preceeding lease year or an amount equal to the increase in the CPI over the immediate preceeding lease year which increase shall not in any event be less than the minimun annual rental of that immediate preceeding lease year.