Term Rent definition

Term Rent means, after the Commercial Operation Date, an annual amount equal to $XX escalating at X% annually. The Town acknowledges that this rent constitutes fair market value rent payable in an arms-length transaction.

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Term Rent means, after the Commercial Operation Date, an annual amount equal to the price contained in the Lessee’s Price Proposal, attached hereto as Exhibit D, subject to Consumer Price Index adjustments as provided in Section 4.2 hereof.

Term Rent means, after the Commercial Operation Date, an annual amount equal to $XX escalating at X% annually. The Town acknowledges that this rent constitutes fair market value rent payable in an arms-length transaction.‌‌‌

Examples of Term Rent in a sentence

• The determination of Fair Market Rental Rate and Option Term Rent shall be made by Landlord, in the good faith exercise of Landlord’s business judgment.

• Within forty-five (45) days after Tenant’s exercise of the Option To Extend, Landlord shall notify Tenant of Landlord’s determination of the Fair Market Rental Rate and Option Term Rent for the Premises.

• Tenant may, within fifteen (15) days after receipt thereof, deliver to Landlord a written notice either: (i) accepting Landlord’s determination, in which case the extension shall be effective and binding (subject to Subsection (f) below) at the accepted rate; or (ii) setting forth Tenant’s good faith estimate, in which case Landlord and Tenant will promptly confer and attempt to agree upon the Fair Market Rental Rate and Option Term Rent.

• Landlord leases to Tenant and Tenant hereby leases from Landlord the Premises for the Term, Rent, and upon the terms, covenants, and conditions set forth herein.

• Further, in the event that Landlord notifies Tenant that the Option Term Rent shall equal the Preceding Rent, such determination shall be conclusive and binding to set the Preceding Rent as the Option Term Rent for the Option Term, Tenant shall not be entitled to dispute or contest such determination, and the extension shall be effective and binding (subject to Subsection (f) below).

• Notwithstanding any of the foregoing to the contrary, at no time during the Option Term shall the Option Term Rent be less than the “Preceding Rent” (defined below).

• The Renewal Term Rent Payments shall be payable through the end of the applicable Renewal Term notwithstanding any termination of this Lease (and the obligation to make all such Renewal Term Rent Payments will be treated as having been incurred at the inception of the Renewal Term), except for a termination pursuant to Section 3.1(f).

• Within thirty (30) days after Tenant's exercise of the Option To Extend, Landlord shall notify Tenant of Landlord's determination of Option Term Rent for the Premises.

• The Renewal Term Rent Payments for a Quarter shall be adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C.

• In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the applicable Renewal Term, no further Renewal Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Renewal Term Rent Payment due with respect to the Quarter in which this Lease is terminated.

More Definitions of Term Rent

Term Rent is deleted in its entirety and is replaced by the following:

Term Rent. The first 60 payment(s) each at $16,227.89; followed by 0 payment(s) each at $O; followed by 0 payment(s) each at $O; followed by 0 payment(s) each at $O; followed by 0 payment(s) each it $0.

Term Rent means an annual rental amount equal to the amount for the applicable Contract Year set forth in Exhibit D .

Term Rent means, after the Commercial Operation Date, an annual amount equal to