Minimum Rent definition

Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

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 [Forty-Six Million Two Hundred Six Thousand Three Hundred Seventy-Six and 00/100ths Dollars ($46,206,376.00)], subject to adjustment as provided in Section 3.1.1(b).

Examples of Minimum Rent in a sentence

• As of the Effective Date, Schedule 1 includes, with respect to each Tenant and each Facility, a Tenant’s Proportionate Share (the “Tenant’s Proportionate Share”), which represents each Tenant’s allocable share of the Minimum Rent obligations in this Lease.

• If the Premises are owned by a real estate investment trust or an entity owned directly or indirectly by a real estate investment trust (other than a taxable real estate investment trust subsidiary), then Landlord and Tenant agree that all Minimum Rent paid to Landlord under this Lease shall qualify as “rents from real property” within the meaning of Section 856(d) of the Internal Revenue of 1986, as amended (the “Code”) and any regulations promulgated thereunder.

• During the Term, Tenant shall pay to Landlord as minimum rent (“Minimum Rent”) the amounts set forth in this Section 4.1. The Minimum Rent for the first Lease Year shall be $105,000,000.00.

• The initial Minimum Rent for such Transferred Facilities shall be an amount of Allocated Facility Rent for the Transferred Facilities immediately prior to the Property Transfer Date (based upon the Tenant’s Proportionate Shares of such Transferred Facilities and as described in Section 4 of this Exhibit H).

• Landlord may from time to time and without prejudice to any other remedy provided in this Lease or by applicable law, use all or a portion of the Security Deposit to the extent necessary to satisfy past due Minimum Rent or Additional Rent.

More Definitions of Minimum Rent

Minimum Rent. As defined in Article III.

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 means the base rental for the Premises set forth in subparagraph 4 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 rent payable by the Tenant under Section 4.2.