Payment of Percentage Rent. Percentage Rent shall be due and payable quarterly on or before the 30th day after the last day of each quarter during the Term. Additionally, an Officer's Certificate, setting forth the calculation of such rent payment for such quarter, shall be delivered to Lessor quarterly, together with such quarterly Percentage Rent payment after each quarter of each Fiscal Year (or part thereof) during the Term. Such quarterly payment shall be based on the formula set forth in Section 3.1(b), but, in calculating the Revenue Computations for each quarter, gross revenues for the year to date shall be annualized by dividing such sum by the number of months which have passed year to date (including the current month) and multiplying the result by 12. The resulting Percentage Rent amount shall be multiplied by the number of months that have passed year-to-date (including the current month) and divided by 12. Payments of Base Rent and Percentage Rent for the year to date shall be subtracted from the result to arrive at the Percentage Rent payment due for that quarter. The Revenue Computations shall be appropriately adjusted to calculate Percentage Rent for partial years. There shall be no reduction in the Base Rent regardless of the result of the Revenue Computations. In addition, on or before March 1 of each year, commencing with March 1, 1999, Lessee shall deliver to Lessor an Officer's Certificate reasonably acceptable to Lessor setting forth the computation (based on audited financial statements of Lessee) of the actual Percentage Rent that accrued for each quarter of the Fiscal Year that ended on the immediately preceding December 31 and shall pay to Lessor, with the delivery of the Officer's Certificate, the amount of Percentage Rent due and payable for the Fiscal Year then ended as shown in the Officer's Certificate, if any, that exceeds the amount actually paid as Percentage Rent by Lessee for such Fiscal Year. If the Percentage Rent actually due and payable for such Fiscal Year is shown by such certificate to be less than the amount actually paid as Percentage Rent for the applicable Fiscal Year, Lessor, at its option, shall reimburse such amount to Lessee or credit such amount against the next quarter's Percentage Rent payments; provided, however, that no Event of Default exists.
Payment of Percentage Rent. Beginning with the first (1st) full Lease Year, Tenant shall send to landlord a written report of its Gross Sales for such Lease Year and, if applicable, pay to Landlord, subject to the provisions of Paragraph 47 below, the Percentage Rent due within ninety (90) days after the end of each full Lease Year. No Percentage Rent shall be payable for any partial Lease Year. For purposes of permitting verification by Landlord of the Gross Sales reported by Tenant, Landlord shall have the right, upon not less than thirty (30) days written notice to Tenant, to audit Tenant’s books and records relating to the Gross Sales for previous two (2) Lease Years after the end of each Lease Year. Landlord’s right to conduct such audit is limited to once per Lease Year. If such an audit reveals that Tenant has understated its Gross Sales by more than five percent (5%) in any Lease Year, Tenant, in addition to paying the additional Percentage Rent due, shall pay the reasonable cost of the audit not to exceed Five Hundred and 00/100 Dollars ($500.00) (provided that the audit in fact resulted in the payment of Percentage Rent or additional Percentage Rent). If Tenant terminates operation of the Leased Premises, this provision requiring payment of Percentage Rent shall not be applicable. Tenant makes no representation or warranty as to expected sales at the Leased Premises.
Payment of Percentage Rent. Within fifteen (15) days after the end of each month of the Term, the Tenant shall furnish the Landlord with a written statement substantially in the form annexed as Schedule D-1 hereof or such other form as the Landlord may from time to time designate to the Tenant, signed and certified as correct by the Tenant or the Tenant’s duly authorized agent, setting out in all reasonable detail the amount of the Gross Revenue by location for the immediately preceding month together with payment of the amount, if any, by which Gross Revenue for the Lease Year up to such month multiplied by the rate set out in Section 1.1(g) for the applicable Lease Year exceeds the Minimum Rent payable for such month and the aggregate of all Minimum Rent and Percentage Rent paid during such Lease Year prior to such month.
Payment of Percentage Rent. The Percentage Rent shall be paid monthly, with respect to Revenue of Consequence made during the month, within fifteen (15) days after the end of each calendar month; provided, however, Percentage Rent for the month of May each year shall be due within thirty (30) days (and not fifteen days) after the end of the month of May. Together with remittance of Percentage Rent, Tenant shall submit a written report in a form acceptable to the Port wherein Tenant shall set forth the number of cruise passengers for the month, the Revenue of Consequence for the month and the Percentage Rent, if any, due for such month. Tenant or an officer of Tenant shall certify that the report is a true and correct statement of the Revenue of Consequence.
Payment of Percentage Rent. Tenant shall calculate and deliver Percentage Rent to Landlord within forty-five (45) days after the end of each quarter of any Fiscal Year (or, in the case of the final quarter in any Fiscal Year, ninety (90) days thereafter), together with an Officer's Certificate, setting forth the calculation of Percentage Rent for such quarter.
Payment of Percentage Rent. 9 4.4 Additional Rentals/Earn Out...................10 4.5
Payment of Percentage Rent. The Percentage Rent with respect to each year (or partial year) during the Term of this Lease shall be due and payable within 60 days after the end of such year (or partial year), without prior demand therefor. Unless otherwise directed by Lessor in writing, Lessee shall pay the Percentage Rent due and payable at any time to Lessor at the address for Lessor which is then applicable as to notices under the provisions of Section 12.5 below.
Payment of Percentage Rent. 4.3 The LESSEE covenants to pay an amount monthly on account of Percentage Rent within 60 days following the end of each month. The payments will be accompanied by a sales summary of sales by location, by month and year to date with vending machine sales broken out as one location. The payment will be caculated by the applicale rates of Seven Percent (7%) for the first $150,000.00 of aggregate Gross Sales and Ten Percent (10%) of aggregate Gross Sales greater than $150,000.00.
Payment of Percentage Rent. Tenant shall furnish to Landlord within twenty (20) days after the end of each quarter during the Term of this Lease a complete statement (the “Quarterly Statement”) of the amount of Adjusted Gross Revenue made from the Leased Premises during said quarter, the Quarterly Statement to be in such form and style, and contain such details and breakdown as Landlord may reasonably require. Tenant shall pay to Landlord on or before the date which is thirty (30) days following the earlier of: (i) Tenant’s furnishing of said Quarterly Statement and (ii) the date on which Tenant was required under the Lease to furnish such Quarterly Statement, the amount which is equal to the percentage set forth above, times the amount of Adjusted Gross Revenue occurring during the quarter represented by said statement.
Payment of Percentage Rent. The City shall pay to Avista, without Note to Draft: City to confirm this [AC5]: SMS Note: [Does this match the City's Utility Billing process?] setoff, deduction, prior notice, or demand, an amount, if any, equal to the Percentage Rent Rate of the Gross Revenue for each month during the Term (hereinafter referred to as “Percentage Rent”). Percentage Rent shall be paid monthly on all invoiced Gross works with City’ s utility billing process. Revenue on the fifteenth (15th) day of the month immediately following the month during which such internet services was delivered.[ ]
