Alternate Rent. As of the Effective Date and if and for so long as Tenant continues to satisfy the Operating Condition (defined in Section 4 above), then in lieu of Base Rent and Percentage Rent otherwise due under the Lease (but not in lieu of Tenant’s share of real estate taxes or any other amounts payable by Tenant under the Lease, which will continue to be due and payable by Tenant as provided in the Lease), Tenant shall pay to Landlord on a monthly basis an amount equal to twelve percent (12%) of Tenant’s Gross Sales, as defined in Section 10 above. Such amount shall be paid by Tenant monthly in arrears on or before the thirtieth (30th) day after the end of each calendar month. Within sixty (60) days after the end of each fiscal year, Tenant shall provide a written certification of Tenant’s Gross Sales for the prior year, executed by the chief financial officer or controller of Tenant, which shall be subject to the same year-end reporting and reconciliation procedures and the verification and audit rights of Landlord that apply to Percentage Rent under this Lease.
Alternate Rent. As of the Effective Date and if and for so long as Tenant continues to satisfy the Operating Condition (as defined in Section 4 above) (but not during periods of Excused Closure), then in lieu of Base Rent and Percentage Rent otherwise due under the Lease (but not in lieu of Tenant’s share of real estate taxes or any other amounts payable by Tenant under the Lease, which will continue to be due and payable by Tenant as provided in the Lease), Tenant shall pay to Landlord on a monthly basis an amount equal to *** of Tenant’s Gross Sales, as defined in Section 10 above. Such amount shall be paid by Tenant monthly in arrears on or before the thirtieth (30th) day after the end of each calendar month. Within sixty (60) days after the end of each fiscal year, Tenant shall provide a written certification of Tenant’s Gross Sales for the prior year, executed by the chief financial officer or controller of Tenant, which shall be subject to the same year-end reporting and reconciliation procedures and the verification and audit rights of Landlord that apply to Percentage Rent under this Lease.
Alternate Rent. In the event the relevant provisions of the FCC Declaratory Ruling cease to be effective, (for example, because they are stayed after having gone into effect, or they are vacated or invalidated and have not been replaced by the FCC with an alternative provision setting a specific amount as Rent), the Licensee shall automatically and immediately be obligated to pay Alternate Rent as described in this paragraph and paragraph 5.2.3, if applicable. For each location covered by a Supplement, Licensee shall pay to the Licensor alternate rent in the base amount of two thousand dollars ($2,000) per calendar year. The base amount under all Supplements shall be subject to an annual adjustment of four percent (4%) applied on each anniversary of the Effective Date. (“Alternate Rent”). Alternate Rent for the first calendar year of a Supplement for each individual location shall be pro-rated based on the number of days covered from the Supplement Effective Date to the next anniversary of the Effective Date of the Agreement. There shall be no refunds of Alternate Rent paid due to the termination or expiration of the License for any reason.
Alternate Rent. If Tenant (in its sole discretion) elects to open for business to the public in the Premises prior to the satisfaction of the Commencement Date Conditions, or if the Co-Tenancy Condition is not satisfied on the Commencement Date (even though the initial satisfaction of the Co-Tenancy Condition shall not be a Commencement Date Condition), then in either case, provided Tenant is open and operating in the Premises, all Base Rent and Additional Rent (other than Tenant’s Tax Contribution) otherwise due hereunder shall be abated and in lieu thereof Tenant shall pay Alternate Rent to Landlord until the Commencement Date Conditions are satisfied and Landlord has initially satisfied the Co-Tenancy Condition. Further if, at any time after the initial satisfaction of the Co-Tenancy Condition, the Co-Tenancy Condition remains unsatisfied for one hundred eighty (180) consecutive days or more, then until the date that the Co-Tenancy Condition is next satisfied, provided Tenant is open and operating in the Premises, all Base Rent and Additional Rent (other than Tenant’s Tax Contribution) otherwise due hereunder shall be abated, and in lieu thereof Tenant shall pay Alternate Rent to Landlord. The Alternate Rent shall be paid monthly in arrears on or before the fifteenth (15th) day after the end of each calendar month. Together with each payment, Tenant shall submit a statement, showing the total Gross Sales for the applicable period, which shall be subject to the reporting, audit and confidentiality provisions of this Article 4. From time to time at Tenant’s request (but not more frequently than two (2) times in any Lease Year, except when the Co-Tenancy Condition is not satisfied), Landlord shall specify in writing the current Co-Tenancy Levels of the Center, which shall be subject to verification by Tenant. Tenant’s payment of Base Rent or any other amounts with respect to any period when the Co-Tenancy Condition is not satisfied shall not constitute a waiver of Tenant’s rights under Section 3.5 or this Section 4.7, whether or not Tenant knew or should have known that the Co-Tenancy Condition was not satisfied. Article 5 Common Areas
Alternate Rent. Intentionally deleted
Alternate Rent. As of the Effective Date and if and for so long as Tenant continues to satisfy the Operating Condition (defined above), then in lieu of Base Rent and Percentage Rent otherwise due under the Lease (but not in lieu of Tenant’s share of Impositions or any other amounts payable by Tenant under the Lease, which will continue to be due and payable by Tenant as provided in the Lease), Tenant shall pay to Landlord on a monthly basis an amount equal to *** of Tenant’s Gross Sales, as defined hereinabove. Such amount shall be paid by Tenant monthly in arrears on or before the thirtieth (30th) day after the end of each calendar month. Within sixty (60) days after the end of each fiscal year, Tenant shall provide a written certification of Tenant’s Gross Sales for the prior year, executed by the chief financial officer or controller of Tenant, which shall be subject to the same year-end reporting and reconciliation procedures and the verification and audit rights of Landlord that apply to Percentage Rent under this Lease.
Alternate Rent. Until the FCC Declaratory Ruling (FCC 18-133) becomes effective, or automatically in the event the relevant provisions of the FCC Declaratory Ruling cease to be effective, (for example, because they are stayed after having gone into effect, or they are vacated or invalidated and have not been replaced by the FCC with an alternative provision setting a specific amount as Rent), the Company shall pay Alternate Rent as described in this paragraph following written notice from the City. For Site License Addendums executed by the parties in 2018 and 2019, Company shall pay to the City alternate rent in the base amount of one thousand five hundred dollars ($1,500.00) per calendar year for each City Pole covered by a Site License Addendum, and such base amount shall be increased on January 1 of each calendar year by the Average CPI Increase (“Alternate Rent”). For Site License Addendums executed by both parties in 2020 and subsequent years, the base amount of rent shall commence at the Alternate Rent, as adjusted annually by the Average CPI Increase, to reflect the then-current rate. Alternate Rent for the first calendar year of a Site License Addendum for each individual City Pole shall be pro-rated based on the number of days covered from the Rent Commencement Date to December 31. The first payment of Alternate Rent shall be paid on the Rent Commencement Date. Every payment of Alternate Rent, after the first payment, shall be due and payable in advance on January 1 of each calendar year throughout the term of each such Site License Addendum. There shall be no refunds of Alternate Rent paid due to the termination or expiration of the License for any reason.
Alternate Rent. In the event the relevant provisions of the FCC Declaratory Ruling cease to be effective, (for example, because they are stayed after having gone into effect, or they are vacated or invalidated and have not been replaced by the FCC with an alternative provision setting a specific amount as Rent), the Licensee shall automatically be obligated to pay Alternate Rent as described in this paragraph and paragraph 5.2.5, if applicable. For each location covered by a Supplement, Licensee shall pay to the Licensor alternate rent in the base amount of two thousand five hundred dollars ($2,060.00) per calendar year. The base amount under all Supplements shall be subject to an annual adjustment of three percent (3%) applied on January 1st of each year, and rounded to the nearest whole number (as shown in the table below for years 2019-2029). Alternate Rent shall be applicable for the next calendar after relevant provisions of the FCC Declaratory Ruling cease to be effective. By way of example, if the FCC Ruling ceases to be effective in 2020, the Alternate Rent shall apply for 2021. The first and each subsequent payment of Alternate Rent shall be due and paid no later than January 15th of each calendar year throughout the term of each such Supplement. There shall be no refunds of Alternate Rent paid due to the termination or expiration of the License for any reason. Program Year Calendar Year Rounded Calculation Annual Increase 3% Year 1 2019 $2,060.00 Year 2 2020 $2,122.00 Year 3 2021 $2,186.00 Year 4 2022 $2,252.00 Year 5 2023 $2,320.00 Year 6 2024 $2,390.00 Year 7 2025 $2,462.00 Year 8 2026 $2,536.00 Year 9 2027 $2,612.00 Year 10 2028 $2,690.00 Year 11 2029 $2,771.00
