Performance Rent definition

Performance Rent means two percent (2%) of cumulative annual gross revenues (exclusive of sales taxes) over One Million Five Hundred Thousand Dollars and No Cents ($1,500,000.00) received during each Lease year by Tenant and all approved subtenants.
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Performance Rent means, for any particular Fiscal Year: (i) the greater of (i) an amount equal to 2.45% of Core Gross Revenues (excluding sales tax) for such Fiscal Year, less the amount paid or payable by the Tenant as Minimum Rent for such Fiscal Year; and (ii) zero.
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Performance Rent means the amounts calculated in accordance with Exhibit C.
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Examples of Performance Rent in a sentence

  • The formula for determining Tenant’s Performance Rent is specified in Attachment D.

  • Within ninety (90) calendar days from the end of each Lease year, the Tenant shall provide the City with an annual financial compilation prepared by a certified public accountant along with any Performance Rent due pursuant to Section 6(d).

  • Tenant shall submit with each payment of Performance Rent such supporting documentation as the City reasonably shall require to document gross sales by Tenant and any subtenants and the computation of the payment.

  • Minimum Rent shall be payable in equal and consecutive monthly instalments in advance on the first day of each calendar month during the Term (after the Completion Date), and Performance Rent (if any) shall be payable in accordance with Section 3.6 below.

  • Lessee shall pay Performance Rent to Lessor on each Performance Rent Payment Date.

  • Lessor shall invoice Lessee for any Additional Rent in accordance with Section 6.1. Notwithstanding anything contained herein to the contrary, the following costs shall not be considered operating expenses and shall not be passed through to Lessee as Additional Rent hereunder (but shall in no way affect the calculation of Base Rent or Performance Rent hereunder): [***] [***].

  • For greater certainty, notwithstanding the foregoing or anything to the contrary contained in this Lease, in no event will any Base Rent (including Minimum Rent and Performance Rent) be payable or accrue with respect to the period prior to the Completion Date.

  • Tenant agrees to pay each year’s Performance Rent, without demand, deduction, recoupment or set-off, not later than ninety (90) calendar days following the end of the Lease year and in accordance with Section 26(b).

Related to Performance Rent

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Basic Rent means the rent payable for the Aircraft pursuant to Section 3.2.1(a) of the Lease.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).