Rents Payable definition
Rents Payable for purposes herein is defined as the total amount of Annual Base Rent and Additional Payment Obligations to be paid for the entire Term of this Lease Agreement, provided in Section 3 hereof, discounted to present value as provided in Section 21.1(a).
Examples of Rents Payable in a sentence
Notwithstanding the foregoing provisions, the pro-rated Collected Rents, Payable Rents and Utilities are subject to adjustment for six (6) months after the Closing Date if such items of income or expense were incorrectly applied to the pre-closing or post-closing periods.