Termination Rent definition

Termination Rent means an amount which, when added to the Stipulated Casualty Value and Basic Rent then payable by the Lessee, if any, will be sufficient to enable the Company to retire, at their respective maturities, all outstanding Notes and to pay all charges, premiums and fees owed to the Issuing Bank and all holders of Notes under the Credit Agreement and to pay all other obligations of the Company incurred in connection with the implementation of the transactions contemplated by the Basic Documents.
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Termination Rent means in relation to any date the amount calculated in respect of that date pursuant to paragraph 5.3;
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Termination Rent means an amount which, when added to the Stipulated Loss Value then payable by the Lessee pursuant to Section 20(b) or Section 25(b) hereof, as the case may be, will be sufficient to enable the Lessor (i) to retire, at their respective maturities, all of Lessor’s then outstanding obligations under (A) any Credit Agreement, including all Commercial Paper issued thereunder and all loans obtained thereunder and (B) any Secured Note Agreement, including all Secured Notes issued pursuant thereto, and (ii) to pay all charges, premiums and fees owed to any lender under a Credit Agreement or Secured Note Agreement or to the Assignee.
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Examples of Termination Rent in a sentence

  • If the Early Termination Rent Obligation has been paid in full within such 30-day period, then Landlord shall execute and deliver to the person entitled thereto, a deed reconveying title to the Premises (including all improvements constituting a part thereof) to Tenant, the Leasehold Mortgagee or Tenant’s successor by Foreclosure, as applicable, and Landlord shall comply with the obligations under Article 31.

  • If Landlord elects to terminate this Lease, then Landlord shall be entitled solely to recover from Tenant the Early Termination Rent Obligation, plus interest on any past due rent or other monetary payments past due hereunder at the rate of 10% per annum, plus any other direct damages incurred by Landlord that are proximately caused by Tenant's failure to perform its obligations under this Lease;.

  • Partners: find your current year amount on Form IT-204-IP, line 51, code 248.Also report any 2021 and 2022 amounts on lines 9 and 10.

  • Any contrary provisions of this Lease notwithstanding, on the last day of the term of this Lease or upon any termination of this Lease, whether under Article 15 above or otherwise, if the Early Termination Rent Obligation has been paid, then Landlord shall reconvey title to the Premises (including all improvements constituting a part thereof) to Tenant or Tenant’s successor by Foreclosure as set forth in Section 33 below.

  • The Acceleration Rent shall be of an amount equal to the Termination Rent (as calculated in accordance with Part 4 of the Financial Schedule) which would have been payable on the day the Acceleration Rent is payable, if that date had in fact been the Termination Payment Date (such that, in particular, the Termination Assumption set out in paragraph 4.5.2(e) of the Financial Schedule is applied in calculating such Termination Rent).

  • There are several ways in which a rental agreement can be terminated, the most common of which are: - The tenant or landlord giving notice of termination - A decision by the Tribunal - Abandonment of premises The Amount of Rent Payable upon Termination Rent is calculated on a daily basis, therefore, where an agreement is terminated, the tenant is only responsible for the actual days the tenant has retained possession.

  • The Acceleration Rent shall be subject to adjustment in accordance with Part 4 of the Financial Schedule as if it were a Termination Rent.

  • If Landlord has not delivered to Tenant the Termination Rent Statement and/or the Post Termination Statement by the end of the Post Termination Period, Landlord shall have no further right to make any claim for payment of any sums payable by Tenant to Landlord pursuant to this Lease other than the Fee, if any, and the sums set forth in whichever Statement, if any, that has been delivered to Tenant by the end of the Post Termination Period.

  • If Landlord provides the Termination Rent Statement to Tenant later than as set forth above, then Tenant's failure to pay the amount set forth in the Termination Rent Statement before the Termination Date shall not extend the termination of this Lease pursuant to this paragraph beyond the Termination Date, but Tenant shall nevertheless be required to pay the amount set forth in the Termination Rent Statement within thirty (30) days of receipt thereof.

  • Accordingly and without limiting the generality of the foregoing, to the extent that the amount of any instalment of Primary Period Rent exceeds the Rent Limit or the amount of any Termination Rent exceeds the Termination Limit the Lessee shall be obliged to make payment of the relevant excess in full and the Lessor shall have full recourse to the Lessee and to its assets to the extent that such payment is not made.


More Definitions of Termination Rent

Termination Rent means an amount calculated in accordance with paragraph 4.3 of the Financial Schedule;
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Termination Rent means an amount which, when added to the Stipulated Loss Value then payable by Lessee pursuant to Section 17(d) or Section 19(b) of the Fuel Lease, as the case may be, together with funds available to Lessor from the Collateral Account, will be sufficient to enable Lessor (i) to retire, at their respective maturities, all of Lessor’s then outstanding obligations under (A) all Note Purchase Agreements, including all Notes issued pursuant thereto, and (ii) to pay all charges, premiums and fees owed to all holders of Notes under the Note Purchase Agreements applicable thereto and to any Assignees thereof.
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Termination Rent means an amount which, when added to the amounts specified in subclauses (i) and (ii) of clause (y) of the second sentence of Section 19(b), in the case of Section 19(b), or added to the amounts specified in subclauses (i) and (ii) of clause (x) of Section 24(b)(ii)(B), in the case of Section 24(b)(ii)(B), will be sufficient to enable the Lessor (i) to retire, pursuant to the terms of the Basic Documents, all of the Lessor's then outstanding obligations under (A) all Note Purchase Agreements, including all IT Notes issued pursuant thereto, (B) the Credit Agreement, including all notes issued thereunder to Banks, and (C) all Commercial Paper, (ii) to pay all charges, premiums and fees owed to all holders of IT Notes under the Note Purchase Agreements applicable thereto and the Banks under the Credit Agreement and (iii) to pay all other obligations of the Lessor incurred in connection with the implementation of the transactions contemplated by the Basic Documents.
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Related to Termination Rent

  • Vacation rental means the lease, sublease, or other rental of residential property for a period of fewer than ninety days, except that it does not include rental of residential property on a weekly or monthly basis pursuant to Chapter 40 of this title, the South Carolina Residential Landlord and Tenant Act.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Additional Rent means all amounts, other than Basic Rent and any Security Deposit, required to be paid by the Tenant to the Landlord in accordance with this Agreement.

  • Base Rent $ 25,024 per month ("Base Rent"), payable on the 1st day of each month commencing on the Commencement Date (Also see Paragraph 4.) [ ] If this box is checked, this Lease provides for the Base Rent to be adjusted per Addendum ___, attached hereto.

  • Market Rent the yearly rent at which the Premises might reasonably be expected to be let on the open market on the Rent Review Date, on the terms of the Hypothetical Lease and applying the Assumptions and the Disregards.94 Rent review On the Rent Review Date, the Main Rent is to be reviewed to the higher of: the Main Rent reserved immediately before the Rent Review Date; and the Market Rent. The reviewed Main Rent will be payable from and including the Rent Review Date. Dispute resolution The Market Rent at the Rent Review Date may be agreed between the Landlord and the Tenant. If they have not done so (whether or not they have tried) by [the date three months before] the Rent Review Date, either the Landlord or the Tenant can require the Market Rent to be decided by an independent [expert/arbitrator].95 If the Landlord and the Tenant do not agree on who should decide the Market Rent, the [expert/arbitrator] will be appointed by the President of the Royal Institution of Chartered Surveyors on the application of either the Landlord or the Tenant. [The arbitration must be conducted in accordance with the Arbitration Act 1996.][The expert will:] [invite the Landlord and the Tenant to submit to him a proposal for the Market Rent with any relevant supporting documentation; give the Landlord and the Tenant an opportunity to make counter submissions; give written reasons for his decisions, which will be binding on the parties; and be paid by the Landlord and the Tenant in the shares and in the manner that he decides (or failing a decision, in equal shares).] The [expert/arbitrator] must be an independent chartered surveyor of not less than ten years’ standing who is experienced in the rental valuation of property similar to the Premises and who knows the local market for such premises. If the [expert/arbitrator] dies, becomes unwilling or incapable of acting or it becomes apparent for any other reason that he will be unable to decide the Market Rent within a reasonable time, he may be replaced by a new [expert/arbitrator] who must be appointed on the terms set out in this paragraph 3. Responsibility for the costs of referring a dispute to an [expert/arbitrator], including costs connected with the appointment of the [expert/arbitrator] but not the legal and other professional costs of any party in relation to a dispute, will be decided by the [expert/arbitrator] and failing a decision, they will be shared equally between the parties. Consequences of delay in agreeing the revised rent If, by the Rent Review Date, the reviewed Main Rent has not been ascertained, then: the Main Rent reserved under this Lease immediately before the Rent Review Date will continue to be payable until the reviewed Main Rent has been ascertained; following the ascertainment of the reviewed Main Rent, the Landlord will demand the difference (if any) between the amount the Tenant has actually paid and the amount that would have been payable had the Main Rent been ascertained before the Rent Review Date; and the Tenant must pay that difference to the Landlord within 10 Business Days after that demand and interest at three per cent below the Interest Rate calculated on a daily basis on each instalment of that difference from the date on which each instalment would have become payable to the date of payment. If not paid those sums will be treated as rent in arrear. Rent review memorandum When the Market Rent has been ascertained, a memorandum recording the Main Rent reserved on review must be entered into. The Landlord and the Tenant will each bear their own costs in relation to that memorandum. Time not of the essence For the purpose of this Schedule 2 time is not of the essence.96

  • Additional Rental has the meaning set forth in Section 4.03.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Termination Charges means any compensatory charges payable by the Customer to BT on termination of this Agreement in whole or in part or a Service as set out in a Schedule or Order. “Transaction Taxes” mean VAT, GST, sales, consumption, use or other similar taxes, customs duties, excise taxes, and regulatory and other fees or surcharges relating to the provision of a Service. “UK GDPR” means the GDPR as applicable as part of UK domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 and as amended by the Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2019 (as amended), as amended or replaced. “User” means any person who is permitted by the Customer to use or access a Service.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $32.50 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per SqFt First Floor Per SqFt Drive Thru TotalPer Annum TotalPer Month 1 $ 32.50 $ 7.50 $ 151,512.00 $ 12,626.00

  • Minimum Rent means Fifty Million Thirty-Three Thousand Nine Hundred Seventy-Six and 00/100ths Dollars ($50,033,976.00), subject to adjustment as provided in Section 3.1.1(b).

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Fair Market Rent for the Subject Leased Property means for any Renewal Term shall mean an amount determined as follows: Landlord shall designate an independent MAI appraiser to determine the Fair Market Rent of the Subject Leased Property for the applicable Renewal Term within twenty (20) days after Tenant’s notice of its exercise of the applicable renewal option. Within thirty (30) days after selection of Landlord’s appraiser, Landlord shall notify Tenant of the determination made by Landlord’s appraiser with respect to the Fair Market Rent. Tenant shall then have ten (10) days to dispute such determination and to select its own independent MAI appraiser. In the event that Tenant fails to select its appraiser within such ten (10) day period, the determination of Landlord’s appraiser shall constitute such Fair Market Rent. Within ten (10) days after selection of Tenant’s appraiser, the two appraisers shall meet and attempt to agree as to the Fair Market Rent for the Subject Leased Property for the Renewal Term in question. In the event that such appraisers are unable to agree as to such Fair Market Rent then: (i) if the difference between the two determinations is less than five percent (5%) of the lower determination, then the average of the two determinations shall be deemed to constitute such Fair Market Rent; or (ii) if the difference between the two determinations is equal to or greater than five percent (5%) of the lower determination, then the two appraisers shall jointly select a third independent MAI appraiser, which appraiser shall select which of the determinations of the first two appraisers shall constitute such Fair Market Rent. Such third appraiser shall not have the right to vary or modify the determinations of the appraisers selected by Landlord and Tenant. Any appraiser selected pursuant to this paragraph must have at least ten (10) years experience in appraising commercial real estate in the area in which the Subject Leased Property is located. The appraisers shall not have the right to amend, modify or vary any of the terms of this Lease and the determination of the appraisers in accordance with this paragraph shall be final, binding and conclusive upon Landlord and Tenant. ]

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

  • Sublease Payment means any payment required to be made by the District pursuant to Section 7 of the Sublease.

  • Landlord’s Statement means an instrument or instruments containing a comparison of any increase or decrease in the Rent for the preceding Comparison Year pursuant to the provisions of this Article 28.

  • Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.