Prior Rent definition

Prior Rent means an amount equal to the per annum Minimum Rent in effect on the last day of the Fixed Term or Extended Term immediately preceding such Extended Term. If Tenant shall elect to exercise the option to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice thereof not later than December 31, 2028, and if Tenant shall elect to exercise its option to extend the Term for the second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than December 31, 2043, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement.
Prior Rent shall have the meaning given such term in Section 2.4.
Prior Rent means an amount equal to the per annum Minimum Rent in effect on the last day of the Fixed Term or Extended Term immediately preceding such Extended Term. If Tenant shall elect to exercise either of the aforesaid options, it shall do so by giving Landlord Notice thereof not later than one (1) year prior to the scheduled expiration of the then current Term of this Agreement (Fixed or Extended, as the case may be), it being understood and agreed that time shall be of the essence with respect to the giving of such Notice. Tenant may not exercise its option for more than one such Extended Term at a time. If Tenant shall fail to give any such Notice timely, this Agreement shall automatically terminate at the end of the Term then in effect and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Examples of Prior Rent in a sentence

  • Nordstrom Rack (2) Leasing Transactions Owned GLA Base Rent PSF (2) Prior Rent PSF (3) Rent Growth % Wtd.

  • Authorizing the City Manager to enter into contract and award Community Development Block Grant funds made available by the U.S. Department of Housing and Urban Development in the amount of $92,860.00 to Casa de Misericordia for the rehabilitation of their battered woman’s shelter.

  • Leases Square New Rent Prior Rent New Leases - Comparable 1st Quarter 2017 Renewals - Comparable 1st Quarter 2017 Total Comparable and Non-Comparable 1st Quarter 2017 (a) Leases on this schedule represent retail activity only; office leases are not included.(b) New rent per sq.

  • If, for any reason, the First, Second or Third Renewal Term shall commence prior to the determination of the Rental for such term, Tenant, in the meantime, shall pay the monthly installments of Base Rental (the "Prior Rent") in effect under this Lease on the last day of the term being renewed.

  • Renovation of office blocks for selected Departments0050,000.000050,000.00Enhance performance and productivity4.

  • There is no longer Jew or Greek, there is no longer slave or free, there is no longer male and female; for all of you are one in Christ Jesus.” (Gal 3:27-28) The Synod of the Catholic Churches in the Holy Land helped us to create a new spirit of solidarity and of collaboration among our Churches, but this effort must be continued.

  • Ann Taylor (3) / Catherine's (3) / Dress Barn (2) / Justice (4) / Lane Bryant (6) Leasing Activity Portfolio at Pro-Rata (5) December 31, 2019 Leasing Transactions Owned GLA Base Rent PSF (1) Prior Rent PSF (2) Rent Growth % Wtd.

  • OfficeMax (3) / Office Depot (2) Leasing Transactions Owned GLA Base Rent PSF (2) Prior Rent PSF (3) Rent Growth % Wtd.

  • Old Navy (6) / Gap (2) / Banana Republic / (1) Leasing Transactions Square Footage Base Rent PSF (1) Prior Rent PSF (2) Rent Growth % Wtd.

  • Co. LLC (1), Stop & Shop (2) Leasing Activity Portfolio at Pro-Rata (1) December 31, 2022 Leasing Transactions Owned GLA Base Rent PSF (2) Prior Rent PSF (3) Rent Growth % Wtd.


More Definitions of Prior Rent

Prior Rent means the monthly rent paid by a 14

Related to Prior Rent

  • For Rent or "For Sale" sixty (60) days before the termination of this Lease. Landlord may enter the Premises at reasonable hours to exhibit same to prospective purchasers or tenants and to make repairs required of Landlord under the terms hereof or to make repairs to Landlord's adjoining property, if any. EFFECT OF TERMINATION OF LEASE

  • Lease or rental means the leasing or renting of tangible personal property and the possession or use

  • Base Rent $ 25,024 per month ("Base Rent"), payable on the 1st day of each month commencing on the Commencement Date (Also see Paragraph 4.) [ ] If this box is checked, this Lease provides for the Base Rent to be adjusted per Addendum ___, attached hereto.

  • 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).

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

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Additional Rent(s) means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

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

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $32.50 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per SqFt First Floor Per SqFt Drive Thru TotalPer Annum TotalPer Month 1 $ 32.50 $ 7.50 $ 151,512.00 $ 12,626.00

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Gross Rents means the actual sum of money or other consideration payable for the use or possession of property. "Gross rents" shall include, but not be limited to:

  • 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.

  • Room Rent Means the amount charged by a hospital for the occupancy of a bed on per day (24 hours) basis and shall include associated medical expenses.

  • Additional Rent means all amounts, other than Basic Rent and any Security Deposit, required to be paid by the Tenant to the Landlord in accordance with this Agreement.

  • Interim Rent means the pro-rata portion of Rent due for the period from the Commencement Date through but not including the first day of the first full Rent Interval included in the Initial Term.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Annual Rent means the annual fixed rent to be paid to the Lessor by the Lessee under Section 5 of this Lease.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).