Minimum Rent definition

Minimum Rent means Fifty-Two Million Two Hundred Ninety-One Thousand Six Hundred Eleven and 00/100ths Dollars ($52,291,611.00), subject to adjustment as provided in Section 3.1.1(b).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Minimum Rent set forth in Section 1.66 of the Lease is hereby deleted in its entirety and replaced with the following:

Minimum Rent means the sum of Twenty Million Eight Hundred Seventy One Thousand Eight Hundred Five and 00/100s Dollars ($20,871,805.00) per annum.

Examples of Minimum Rent in a sentence

• Tenant shall pay such current damages to Landlord monthly on the days on which the Minimum Rent would have been payable hereunder if this Agreement had not been so terminated with respect to such of the Leased Property.

• Tenant shall pay, in lawful money of the United States of America which shall be legal tender for the payment of public and private debts, without offset, abatement, demand or deduction (unless otherwise expressly provided in this Agreement), Minimum Rent and Additional Rent to Landlord and Additional Charges to the party to whom such Additional Charges are payable, during the Term.

• Landlord shall have all legal, equitable and contractual rights, powers and remedies provided either in this Agreement or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Minimum Rent and Additional Rent.

• Any holding over by Tenant after the expiration or sooner termination of this Agreement shall be treated as a daily tenancy at sufferance at a rate equal to two (2) times the Minimum Rent and other charges herein provided (prorated on a daily basis).

• If any installment of Minimum Rent, Additional Rent or Additional Charges (but only as to those Additional Charges which are payable directly to Landlord) shall not be paid within ten (10) days after its due date, Tenant shall pay Landlord, on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof.

More Definitions of Minimum Rent

Minimum Rent means, with respect to each Accounting Period, the sum set forth on Exhibit "A-1", subject to adjustment pursuant to the terms of this Agreement.

Minimum Rent means annual rent as set forth in Section 3.2, subject to prorations and adjustments as set forth in Section 3.2.

Minimum Rent has the meaning set forth in Section 2.1(a).

Minimum Rent. As defined in SECTION 3.1.

Minimum Rent means the base rental for the Demised Premises set forth in subparagraph 4(a) below.

Minimum Rent set forth in Section 1.69 of the Consolidated Lease is hereby amended by deleting the existing definition and replacing it with the following definition:

Minimum Rent means the annual rent payable by the Tenant under section 4.1;