Reduced Rent Period definition

Reduced Rent Period means the fixed period set out above (if any) during which a reduced Rent is payable and the special conditions set out above in clause 2 apply.
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Reduced Rent Period means the period from and including the Rent Commencement Date to but excluding the Full Rent Date; “Service Hours” means 7 a.m. to 7 p.m. Monday to Friday excluding Bank and Public Holidays; “Statute” means: (a) an Act of Parliament and any subordinate legislation; or (b) a law, decree or direction of the European Community or other supranational body having effect as law in the United Kingdom now or from time to time in force; “Superior Landlord” means any persons for the time being entitled to the reversion whether immediate or not to any lease under which the Landlord holds its interest in the Premises; “Superior Lease” means the lease of the Premises dated 31 October 1996 made between (1) Galliard Homes Limited and (2)
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Reduced Rent Period. Defined in paragraph 3.2.2. Rent: Defined in paragraph 3.1.
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Examples of Reduced Rent Period in a sentence

  • Notwithstanding the foregoing, (i) the Base Rent for the Phase 1 Premises shall be abated during the Phase 1 Reduced Rent Period as defined in Item 14 of the Basic Lease Provisions, and (ii) the Base Rent for the Phase 2 Premises shall be abated during the Phase 2 Reduced Rent Period as defined in Item 15 of the Basic Lease Provisions.

  • Tenant shall not be obligated to pay annual rent during the period commencing on February 1, 1998 and ending on February 28, 1998) (the "Reduced Rent Period").

  • In such event, the Abated Rent Period will be automatically adjusted to be two (2) full calendar months (i.e., the partial and full calendar months constituting Month 1 and a portion of Month 2, with Monthly Rent for the remainder of Month 2 being appropriately pro-rated), and similar prorations will occur for the beginning and ending calendar months during the First Reduced Rent Period and Second Reduced Rent Period.

  • Landlord and Tenant acknowledge that the Reduced Rent Period granted under this Lease by Landlord to Tenant is based on Landlord’s expectation that Tenant will occupy, and pay Base Rent with respect to, the entire Premises for the entire duration of the Initial Term, and that if this Lease is terminated prior thereto solely because of an Event of Default, Landlord will be deprived of essential consideration for Landlord’s agreement to grant the Reduced Rent.

  • Notwithstanding the foregoing or the above rent table, if Tenant shall default on any of its obligations under the Lease during the period (the “Reduced Rent Period”) beginning on January 1, 2023 and ending on December 31, 2023, then the Annual Fixed Rent payable by Tenant thereafter during the Reduced Rent Period shall automatically increase to $211,390.33 per month (i.e., calculated based on the Rentable Floor Area of the Existing Premises).

  • Notwithstanding the foregoing, if Tenant shall default on any of its obligations under the Lease during the Reduced Rent Period (as defined in Section 4 above), then the “Rentable Floor Area of the Premises” for the remainder of the Reduced Rent Period for purposes of computing such payments shall automatically be deemed to be the Rentable Floor Area of the Existing Premises (being 53,972 rentable square feet).

  • However, during such Reduced Rent Period, Tenant shall pay for its electric consumption in the amount of $220.00 per month and rubbish removal in the amount of $25.

  • TERM: That period commencing on the Term Commencement Date and expiring on the 84th full calendar month thereafter, subject to extension as provided in Section 2.2. ANNUAL BASE Lease Years 1 and 2: $2,074,990 per annum; subject to the RENT: reduction during the Reduced Rent Period pursuant to Section 4.1 hereof (i.e., $33.96 per square foot of Rentable Floor Area of the Premises per year).

  • Early occupation and access of the Subleased Premises by the Subtenant prior to the Commencement Date, in accordance with this Clause 10, shall not be counted against or deducted from the Reduced Rent Period.

  • Installment Payable Upon Execution: $2,571,314 (Security Deposit and one month’s Phase 1 Base Rent and one month’s Phase 2 Base Rent at full rate to be applied by Landlord to the first full month following the expiration of the Phase 1 Reduced Rent Period and the Phase 2 Reduced Rent Period, respectively) 21.

Related to Reduced Rent Period

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • 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.

  • Loan Year means each period of twelve (12) consecutive months commencing on the Closing Date and on each anniversary thereof.

  • Baseline Period means the period used to determine the baseline emission rate for each regulated pollutant under OAR 340 division 222.

  • Prior Month Receipt Period With respect to each Distribution Date, the calendar month preceding the month in which such Distribution Date occurs.

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

  • Mid-Month Receipt Period With respect to each Distribution Date, the one month period beginning on the Determination Date (or, in the case of the first Distribution Date, from and including the Cut-Off-Date) occurring in the calendar month preceding the month in which such Distribution Date occurs and ending on the day preceding the Determination Date immediately preceding such Distribution Date.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Non-Payment Period Rate means, initially, 200% of the applicable Reference Rate (or 275% of such rate if the Corporation has provided notification to the Auction Agent prior to the Auction establishing the Applicable Rate for any dividend pursuant to paragraph 2(f) hereof that net capital gains or other taxable income will be included in such dividend on shares of AMPS), provided that the Board of Directors of the Corporation shall have the authority to adjust, modify, alter or change from time to time the initial Non-Payment Period Rate if the Board of Directors of the Corporation determines and Moody's and S&P (and any Substitute Rating Agency in lieu of Moody's or S&P in the event either of such parties shall not rate the AMPS) advise the Corporation in writing that such adjustment, modification, alteration or change will not adversely affect their then-current ratings on the AMPS.

  • Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: Long-Term Ratings* Fitch Applicable Multiplier AAA to AA- 100% A+ to A- 000% BBB+ to BBB- 140% *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Quarterly Excess Available Funds Percentage means, with respect to the July 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Extension Term means the time period defined in §2.C.

  • Expense Year means each calendar year in which any portion of the Lease Term falls, through and including the calendar year in which the Lease Term expires, provided that Landlord, upon notice to Tenant, may change the Expense Year from time to time to any other twelve (12) consecutive month period, and, in the event of any such change, Tenant’s Share of Direct Expenses shall be equitably adjusted for any Expense Year involved in any such change.

  • Base Year means the period set forth in Section 5 of the Summary.

  • 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.

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Adjustment Period means the period from the Effective Date up to and including the Expiry Time;

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

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

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Non-Payment Period means any period commencing on and including the day on which the Trust shall fail to (i) declare, prior to the close of business on the second Business Day preceding any Dividend Payment Date, for payment on or (to the extent permitted by paragraph 2(c)(i) of this Article VIII, Section 2 of these Amended By-Laws) within three Business Days after such Dividend Payment Date to the Holders as of 12:00 noon, New York City time, on the Business Day preceding such Dividend Payment Date, the full amount of any dividend on shares of APS payable on such Dividend Payment Date or (ii) deposit, irrevocably in trust, in same-day funds, with the Auction Agent by 12:00 noon, New York City time, (A) on such Dividend Payment Date the full amount of any cash dividend on such shares payable (if declared) on such Dividend Payment Date or (B) on any redemption date for any shares of APS called for redemption, the Mandatory Redemption Price per share of such APS or, in the case of an optional redemption, the Optional Redemption Price per share, and ending on and including the Business Day on which, by 12:00 noon, New York City time, all unpaid cash dividends and unpaid redemption prices shall have been so deposited or shall have otherwise been made available to Holders in same-day funds; provided that, a Non-Payment Period shall not end unless the Trust shall have given at least five days' but no more than 30 days' written notice of such deposit or availability to the Auction Agent, all Existing Holders (at their addresses appearing in the Share Books) and the Securities Depository. Notwithstanding the foregoing, the failure by the Trust to deposit funds as provided for by clauses (ii)(A) or (ii)(B) above within three Business Days after any Dividend Payment Date or redemption date, as the case may be, in each case to the extent contemplated by paragraph 2(c)(i) of these Amended By-Laws, shall not constitute a "Non-Payment Period."

  • Assessment Period means such period as is prescribed in sections 19 to 21 over which income falls to be calculated;

  • Quarterly Period means each period of three (3) consecutive months ending on March 31, June 30, September 30, and December 31.