Minimum Rent Payment definition

Minimum Rent Payment. For and with respect to the first (1st) and second (2nd) twelve (12) full calendar month periods of the term of this lease (plus the partial calendar month, if any, from and after the term commencement date), at the rate of Sixty-seven Thousand Five Hundred and 00/100 DOLLARS ($67,500.00) per annum, payable at the rate of Five Thousand Six Hundred Twenty-five and 00/100 DOLLARS ($5,625.00) per calendar month, and proportionately at such rate for any partial month. For and with respect to the third (3rd) through fifth (5th) twelve (12) full calendar month periods of the term of this lease, at the rate of Seventy-five Thousand and 00/100 DOLLARS ($75,000.00) per annum, payable at the rate of Six Thousand Two Hundred Fifty and 00/100 DOLLARS ($6,250.00) per calendar month, and proportionately at such rate for any partial month. For and with respect to the sixth (6th) and seventh (7th) twelve (12) full calendar month periods (being the balance) of the term of this lease, at the rate of Eighty-two Thousand Five Hundred and 00/100 DOLLARS ($82,500.00) per annum, payable at the rate of Six Thousand Eight Hundred Seventy-five and 00/100 DOLLARS ($6,875.00) per calendar month, and proportionately at such rate for any partial month.
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Examples of Minimum Rent Payment in a sentence

  • If a Put Event shall have occurred, then Lessor may require Lessee to purchase the Leased Property on the first Minimum Rent Payment Date occurring not less than thirty (30) days after the date specified in a notice from Lessor requiring such purchase for an amount equal to the greater of (i) the Fair Market Value, or (ii) the Minimum Repurchase Price, plus, in either event, all Rent then due and payable (excluding the installment of Minimum Rent due on the purchase date).

  • A monthly Minimum Rent Payment for any fractional month at the beginning or the end of the Term shall be prorated based upon the actual number of days in such month.

  • The Pledge Agreement shall provide that Lessor shall be entitled to disbursements from the Deposit Account on each Minimum Rent Payment Date in an amount equal to one-twelfth of the annual Minimum Rent owing under this Lease, without the need for further written authorization from Lessee, and without demand, abatement, setoff or notice, and otherwise upon and subject to the terms and conditions set forth under the Pledge Agreement.

  • The Fixed Minimum Rent shall be paid by Tenant paying to Landlord the Monthly Minimum Rent Payment on or before the first day of each month during the Term hereof.

  • The Fixed Minimum Rent shall be paid by Tenant, paying to Landlord the Monthly Minimum Rent Payment on or before the first day of each month during the Term hereof.

  • An Employee will earn one year of retiree insurance for each five-year increment of service for the first twenty years of service.

  • Landlord shall apply the Initial Payment to the Minimum Rent Payment due on the Commencement Date, unless prior to the Commencement Date Tenant has failed to comply with any provision of this Lease including the payment of Additional Rent but excluding the payment of Minimum Rent, in which case Landlord may use the Initial Payment to cure any such default.

  • If Lessor retains any such amount the Minimum Rent payable on or after the second Minimum Rent Payment Date occurring after such retention shall be reduced equitably but in no event shall Minimum Rent be reduced lower than the monthly debt payments under any Facility Mortgage with respect to such individual Leased Property.

  • If you are a consumer, you may cancel your agreement with us for the provision of The Services at any time within the agreed Trial period (see clause 16) after placing an order by registering for The Services (“Cancellation Period”).

  • Along with each Quarterly Additional Minimum Rent Payment, Tenant shall submit to Landlord an unaudited (but certified by a duly authorized officer of Tenant or Tenant’s general partner or managing member, if applicable) statement showing a detailed breakdown of the calculation of Additional Minimum Rent for such Fiscal Quarter, and for the Fiscal Year to date on a cumulative basis.

Related to Minimum Rent Payment

  • Minimum Rent means Fifty Million Thirty-Three Thousand Nine Hundred Seventy-Six and 00/100ths Dollars ($50,033,976.00), subject to adjustment as provided in Section 3.1.1(b).

  • Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.

  • Past Due Rent Payment is defined in Section 2.2(g).

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.