Minimum and Percentage Rent Sample Clauses

Minimum and Percentage Rent. Tenant covenants and agrees to pay to Landlord, without notice or demand, at Landlord's address for notice (Landlord's and Tenant's notice addresses being the addresses specified in Section 24.7 hereof), as rent for the Premises:
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Minimum and Percentage Rent. If this Lease has not theretofore been canceled by Lessee as provided hereinabove, then minimum and percentage rent shall begin to accrue as provided below.
Sample 1
Minimum and Percentage Rent. A. Minimum Annual Rent shall be payable each Lease Year (as hereinafter defined) in equal monthly installments in advance, upon the first day of each and every month commencing upon the Rent Commencement Date and continuing thereafter through and including the Termination Date (each monthly installment being hereinafter called "Minimum Monthly Rent") as follows; and Lease Year Annual Rent Minimum Monthly Rent 1 $1,200,000.00 $100,000.00 2 $1,200,000.00 $100,000.00 3 $1,500,000.00 $125,000.00 4 $1,800,000.00 $150,000.00 5 $2,100,000.00 $175,000.00 B. Percentage Rent shall be payable monthly in installments on the Fifteenth (15th) day after the month following the month in which Gross Sales (as hereinafter defined) for each Lease Year equal $3,000,000. Percentage Rent payments shall be in a sum equal to the amount by which the Applicable Percentage (as set forth below) of Gross Sales during each Lease Year beginning on the Commencement Date exceeds the Breakpoint set forth below; and Lease Year Applicable Percentage / Breakpoint 1 0% of Gross Sales; 2 0% of Gross Sales to $3,000,000 7% of Gross Sales between $3,000,001 - $5,000,000 8% of Gross Sales between $5,000,001 - $7,000,000 9% of Gross Sales between $7,000,001 - $9,000,000 10% of Gross Sales above $9,000,001; 3 0% of Gross Sales to $3,000,000 8% of Gross Sales between $3,000,001 - $5,000,000 9% of Gross Sales between $5,000,001 - $7,000,000 10% of Gross Sales between $7,000,001 - $9,000,000 11% of Gross Sales above $9,000,001; 4 0% of Gross Sales to $3,000,000 9% of Gross Sales between $3,000,001 - $5,000,000 10% of Gross Sales between $5,000,001 - $7,000,000 11% of Gross Sales between $7,000,001 - $9,000,000 12% of Gross Sales above $9,000,001; 5 0% of Gross Sales to $3,000,000 10% of Gross Sales between $3,000,001 - $5,000,000 11% of Gross Sales between $5,000,001 - $7,000,000 12% of Gross Sales between $7,000,001 - $9,000,000 13% of Gross Sales above $9,000,001
Sample 1
Minimum and Percentage Rent. Tenant covenants and agrees to pay to Landlord, without notice or demand, at Landlord's Address for notice the Minimum Rent set forth in Article I, in advance upon the first day of each and every month of the Lease Term. If actual Store Floor Area is modified in accordance with Section 2.l, the Minimum Annual Rent (Break Points are not related to Minimum Rent or Store Floor Area) and the Sales Breakpoint shall be deemed automatically increased or decreased based upon the Store Floor Area as thus determined, and any overpayments or underpayments of Minimum Monthly Rent (Break Points are not related to Minimum Rent or Store Floor Area) and Percentage Rent to Landlord shall be adjusted accordingly. The failure of Tenant to object to any statement, invoice, or billing presented by Landlord, within thirty (30) days after receipt of such statement, invoice, or billing based on Store Floor Area, shall constitute Tenant's acquiescence to the actual Store Floor Area as so determined by Landlord. In addition to the payment of Minimum Rent, Tenant covenants and agrees to pay to Landlord, without notice or demand, at Landlord's Address for notice, an amount, if any, equal to the Percentage Rent Rate applied against that portion of Tenant's Adjusted Gross Sales during each Lease Year or Partial Lease Year in excess of the Sales Breakpoint for such period (hereinafter referred to as "Percentage Rent"). In the event of a Partial Lease Year, the Sales Breakpoint shall be determined by multiplying the Sales Breakpoint for the full Lease Year, by a fraction, the numerator of which shall be the number of days contained in such Partial Lease Year and the denominator of which shall be 365 days. If Minimum Rent for any Lease Year or Partial Lease Year is reduced or abated for any reason, the Sales Breakpoint shall be reduced in direct proportion to the reduction or abatement of Minimum Rent for the period of time that such reduction or abatement of Minimum Rent is in effect. If the Sales Breakpoint changes during a Lease Year, the Sales Breakpoint for that Lease Year shall be appropriately adjusted. Notwithstanding anything to the contrary contained in this Lease, for purposes of calculating Percentage Rent for the Partial Lease Year at the end of the Lease Term, Tenant's Gross Sales during the Partial Lease Year shall be deemed to be the total Gross Sales for the final twelve (12) month period of the Lease Term multiplied by a fraction the numerator of which is the number of c...
Sample 1

Related to Minimum and Percentage Rent

  • Percentage Rent In addition to the Base Rent, Lessee shall be: (check one) ☐ - Not required to make payments related to Lessee’s sales or revenue (“Percentage Rent”). ☐ - Required to pay __________________ percent (____%) of __________________ (gross sales, net sales, etc.). Such payment shall be made ☐ Monthly ☐ Quarterly ☐ Annually along with a receipt to show proof of percentage calculation (“Percentage Rent”). The Base Rent and the Percentage Rent shall be referred collectively to as the “Rent.”

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5, which amount shall be subject to increase as provided in Sections 1.5 and 4.3. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, Tenant shall pay the first month’s Minimum Monthly Rent to Landlord.

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Tenant’s Percentage The ratio of the Rentable Floor Area of the Premises to the total rentable area of the Building (130,706 rentable square feet), which shall initially be deemed to be 34.10%. ______________________________

  • Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )

  • Tenant’s Percentage Share The term "Tenant's Percentage Share" shall mean 46.67% and shall be used to calculate increases in Property Taxes and Operating Expenses (as such terms are hereinafter defined) payable by Tenant. Landlord may reasonably redetermine Tenant's Percentage Share from time to time to reflect reconfigurations, additions or modifications to the Building.

  • Minimum Rental Beginning with the Commencement Date and continuing through the Expiration Date or earlier termination of this Lease, Tenant shall pay Minimum Rental in accordance with the schedule set forth in Section 1(g) in equal monthly installments each in advance on or before the first day of each month. If the Commencement Date is a date other than the first day of a calendar month, the Minimum Rental shall be prorated daily from such date to the first day of the next calendar month and paid on or before the Commencement Date.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

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