Rent Shortfall definition

Rent Shortfall. As defined in Section 3.1.
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Rent Shortfall means, with respect to any Lease, the amount of any deficit in payment of Rent on any Rent Payment Date, prior to giving effect to any distribution from the Pool Cash Collateral Account or any payment of the amount owing by Pool Parent or CCC pursuant the Guarantee.
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Rent Shortfall means the Bond Servicing Costs less Net Rent paid under the Lease prior to Closing.
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Examples of Rent Shortfall in a sentence

  • If the relevant Originator purchases a Rent Shortfall Returned Device in accordance with the Device Repurchase Agreement.

  • Any funds remaining in the Pool Cash Collateral Account after satisfying any Rent Shortfall shall be distributed promptly upon receipt of the certificate referred to in the first sentence of this paragraph.

  • The Future Transition Facilities Rent Shortfall shall be due and payable within ten (10) Business Days after Lessee’s receipt from Lessor of the Future Transition Facilities Rent Shortfall Statement.

  • If, for any Lease Year or any portion thereof, the Base Rent is adjusted in accordance with clause (b) above, then the difference between the Base Rent for such Lease Year, and the Base Rent for such Lease Year if adjusted in accordance with clause (a) above shall be referred to herein as the "Rent Shortfall".

  • Each such Rent Shortfall amount shall be paid by Guarantor on a monthly basis as each such credit is taken within twenty (20) Business Days after the date on which such Rent Shortfall amount would have been due had such credit not been taken; provided, however, Guarantor’s payment of such Rent Shortfall amounts shall terminate as of the date the Project Amenities which were not completed and which triggered the Rent Shortfall are completed in accordance with the terms of the New Century Lease.

  • To the extent an Operating Expense Statement reflects an Operating Expense Rent Shortfall Tenant will pay such shortfall within 30 days after receipt of the Operating Expense Statement (or receive a credit for the difference against the next due Rent, as the case may be).

  • In the event of a Rent Shortfall, Lessor may, but shall not be required to, use, apply or retain all or any part of the Prepaid Reserve for the payment of the Rent Shortfall or for any other payment obligations of Lessee.

  • Promptly following delivery of the Option Notice, Landlord shall deliver notice to Tenant setting forth Landlord’s calculation of the Purchase Price (“Landlord’s Calculation”), together with reasonable evidence of the Applicable Bond Retirement Amount, Applicable Percentage, Approved Landlord Costs, Bond Retirement Amount, Bond Servicing Costs, current Rent Shortfall and any Condemnation Purchase Price Credit.

  • In the event of a Master Lease Rent Shortfall resulting from a casualty or Taking, Lender shall have the right to draw an amount equal to such Master Lease Rent Shortfall on any such Letter of Credit and deposit same into the LCR Deterioration Reserve Account.

  • In addition to the Base Rent, Lessee will also pay and discharge as and when due and payable all Impositions as provided in Section 4.1, any Future Transition Facilities Rent Shortfall, and all other amounts, liabilities, obligations and Impositions which Lessee assumes or agrees to pay under this Master Lease.


More Definitions of Rent Shortfall

Rent Shortfall means, for each Rent Date, the amount (if any) by which the Rent Requirement for that date exceeds the aggregate of the Value of all Rent Security for that date;
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Rent Shortfall means the cumulative amount equal to the difference between the Base Rent payable for each Lease Year in which there was no Annual Rent Increase and the Base Rent that would have been payable if the Base Rent had been calculated based upon a rate
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Rent Shortfall means a Master Lease Rent Shortfall and/or a Non-Toys Lease Rent Shortfall, as applicable.
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Rent Shortfall means the difference between the basic or fixed rental payable under the Lease which is proposed to be assigned and the basic or fixed rental payable under the proposed sublease of the Location to which that Lease pertains.
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Rent Shortfall has the meaning set for such term in Section 4.1.
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Related to Rent Shortfall

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Net Interest Shortfall With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Net Simple Interest Shortfall With respect to any Distribution Date, the excess, if any, of (a) 30 days’ interest at the weighted average (by principal balance) of the Net Mortgage Rates of the Simple Interest Mortgage Loans as of the first day of the related Due Period, as determined by the Servicer, on the aggregate principal balance of such Simple Interest Mortgage Loans for such Remittance Date, carried to six decimal places, rounded down, and calculated on the basis of a 360-day year consisting of twelve 30-day months, over (b) the amount of the payments received by the Servicer in the related Due Period allocable to interest in respect of such Simple Interest Mortgage Loans, calculated in accordance with the Simple Interest Method, net of the related Servicing Fees.

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).