Tenant’s retention definition

Tenant’s retention means two percent (2%) of Net Revenue (the “Preferred Fee”) plus five percent (5%) of EBITDA resulting from the operation of the Business during the term of the Lease after EBITDA is reduced by the amount of the Preferred Fee, provided, however, that in no event shall the difference be deemed to equate to a negative number. For the purpose of this Lease, “Net Revenue” means all revenue from the operation of the Business less complimentary housing, meals and other items granted to third parties by Tenant for promotional purposes consistent with gaming industry practice. Such revenues shall be computed on an accrual basis in accordance with generally accepted accounting principles. For the purposes of this Lease, the term “EBITDA” means the amount of Earnings Before Interest, Taxes, Depreciation and Amortization from the operation of the Business during the term of the Lease as determined pursuant to generally accepted accounting principles in accordance with gaming industry practices.
Sample 1

Related to Tenant’s retention

  • Tenant’s Work means all improvements, alterations, fixture, equipment, and signage installation, and furniture placement necessary or appropriate for the conduct of the Permitted Use, including all work described as Tenant’s Work on Exhibit D, attached (the “Work Letter”).

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.

  • heritage building means a Building designated under Part IV of the Ontario Heritage Act, R.S.O. 1990, c. O.18, or any successor legislation, or a Building designated under Part V of the Ontario Heritage Act,R.S.O. 1990, c. O.18, or any successor legislation, which has been identified as a significant heritage resource in a conservation district plan and any Building listed in the Markham Register of Property of Cultural Heritage Value of Interest;

  • Landlord Work means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the “Work Letter”), if any, attached to this Lease as Exhibit C.

  • Tenant means a person entitled under a rental agreement to occupy a dwelling unit to the exclusion of others.

  • Lessees SIGNATURE: DATE: PRINT NAME: LESSOR’S SIGNATURE: DATE: PRINT NAME: LESSOR’S ACKNOWLEDGMENT OF NOTARY PUBLIC STATE OF County, ss. On this day of , 20 , before me appeared , as LESSOR of this Commercial Lease Agreement who proved to me through government issued photo identification to be the above-named person, in my presence executed foregoing instrument and acknowledged that they executed the same as their free act and deed. Notary Public My commission expires: LESSEE’S ACKNOWLEDGMENT OF NOTARY PUBLIC STATE OF County, ss. On this day of , 20 , before me appeared , as LESSEE of this Commercial Lease Agreement who proved to me through government issued photo identification to be the above-named person, in my presence executed foregoing instrument and acknowledged that they executed the same as their free act and deed. Notary Public

  • this Tenant Work Letter means the relevant portion of Sections 1 through 6 of this Tenant Work Letter.

  • the Building means any building of which the Property forms part.

  • Base Building shall include the structural portions of the Building, and the public restrooms, elevators, exit stairwells and the systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located. In performing the work of any such Alterations, Tenant shall have the work performed in such manner so as not to obstruct access to the Project or any portion thereof, by any other tenant of the Project, and so as not to obstruct the business of Landlord or other tenants in the Project. Tenant shall not use (and upon notice from Landlord shall cease using) contractors, services, workmen, labor, materials or equipment that, in Landlord’s reasonable judgment, would disturb labor harmony with the workforce or trades engaged in performing other work, labor or services in or about the Building or the Common Areas. In addition to Tenant’s obligations under Article 9 of this Lease, upon completion of any Alterations, Tenant agrees to cause a Notice of Completion to be recorded in the office of the Recorder of the County of San Diego in accordance with Section 3093 of the Civil Code of the State of California or any successor statute, and Tenant shall deliver to the Project construction manager a reproducible copy of the “as built” drawings of the Alterations, to the extent applicable, as well as all permits, approvals and other documents issued by any governmental agency in connection with the Alterations.

  • Tenants means the tenants under the Leases.

  • Tenant Improvements means all improvements to the Project of a fixed and permanent nature as shown on the TI Construction Drawings, as defined in Section 2(c) below. Other than Landlord’s Work (as defined in Section 3(a) below, Landlord shall not have any obligation whatsoever with respect to the finishing of the Premises for Tenant’s use and occupancy.

  • Subleased Premises means approximately -18;961 rentable square feet on the 141h floor of the Building, as more specifically depicted on Exhibit A attached hereto and made a part hereof. The Subleased Premises include all of the Leased Premises identified in the Prime Lease.

  • Common Areas is defined as all areas and facilities outside the Premises and within the exterior boundary line of the Industrial Center and interior utility raceways within the Premises that are provided and designated by the Lessor from time to time for the general non-exclusive use of Lessor, Lessee and other lessees of the Industrial Center and their respective employees, suppliers, shippers, customers, contractors and invitees, including parking areas, loading and unloading areas, trash areas, roadways, sidewalks, walkways, parkways, driveways and landscaped areas.

  • Tenant Improvement Allowance in the maximum amount of $200.00 per rentable square foot in the Premises, which is included in the Base Rent set forth in the Lease; and

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent (50%) of the then Replacement Cost of the building.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Tenant Inducement Costs means any out-of-pocket payments required under a Lease to be paid by the landlord thereunder to or for the benefit of the tenant thereunder which is in the nature of a tenant inducement, including specifically, but without limitation, tenant improvement costs, lease buyout payments, and moving, design, refurbishment and club membership allowances and costs. The term “Tenant Inducement Costs” shall not include loss of income resulting from any free rental period, it being understood and agreed that Seller shall bear the loss resulting from any free rental period until the Closing Date and that Purchaser shall bear such loss from and after the Closing Date.

  • Common Areas and Facilities , in relation to a building, means all parts of the building or the land on which it is located and all easements, rights an appurtenances belonging to the land or the building, which are neither in the exclusive possession of an apartment owner in terms of this conveyance deed of apartment, nor are handed over or intended to be handed over to the local authority or other public service agency and shall include the limited common areas and facilities;

  • Landlord Waiver means a letter in form and substance reasonably acceptable to the Administrative Agent and executed by a landlord in respect of Inventory of a Loan Party located at any leased premises of a Loan Party pursuant to which such landlord, among other things, waives or subordinates on terms and conditions reasonably acceptable to the Administrative Agent any Lien such landlord may have in respect of such Inventory.

  • the Premises means the building or part of the building booked and referred to in the contract

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • Common Area means all real property owned by the Association for the common use and enjoyment of the Owners.

  • Landlord as used herein shall mean only the owner or owners at the time in question of the premises. In the event of any transfer of such title or interest, Landlord herein named (and in case of any subsequent transfers the then grantor) shall be relieved from and after the date of such transfer of all liabilities as respects Landlord’s obligations thereafter to be performed, provided that any funds in the hands of Landlord or the then grantor at time of such transfer in which Tenant has an interest shall be delivered to the grantee, who shall assume the obligations of Landlord or the then grantor to Tenant with respect to those funds. The obligations contained in this Lease to be performed by Landlord shall, subject to the foregoing provisions of this paragraph 19, be binding on Landlord’s successors and assigns.

  • Customer Premises Equipment or "CPE" means equipment employed on the premises of a Person other than a Carrier to originate, route or terminate Telecommunications (e.g., a telephone, PBX, modem pool, etc.).

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;