Replacement Rent definition

Replacement Rent means initial rents which are market rates, but in no event less than the Determined Minimum Rent.
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Examples of Replacement Rent in a sentence

  • The Replacement Rent Credit Amount attributable to the sale of Decatur Township shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.

  • In the event that the Replacement Rent Credit Amount is greater than the Facility Base Rent attributable to such Replacement Lease Facility, at such time as the sale of a Replacement Lease Facility occurs such excess amount shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.

  • In the event that the Facility Base Rent attributable to a Replacement Lease Facility is greater than the Replacement Rent Credit Amount, at such time as the sale of a Replacement Lease Facility occurs all Subject Facility Excess Rent with respect thereto shall be reallocated on a 20/80 basis to increase the annual Base Rent payable under the Connecticut Master Lease and Other Centers Master Lease.