Repayment of Deferred Rent. (a) Subject to the provisions of Section 2(b) above and Section 3(b) below, Tenant shall pay to Landlord as additional Fixed Rent, in addition to all other Fixed Rent due and payable under the Lease, the Deferred Rent (the “Repayment Amount”) in 48 equal monthly installments of $273,071.65 each, which shall be due and payable on or before the first day of each month during the period (the “Repayment Period”) commencing October 1, 2023, to and including September 30, 2027.
Repayment of Deferred Rent. Landlord and Tenant agree that Tenant shall repay the Deferred Rent concurrently with the payment by Tenant of Base Rent, over a period of six (6) months, commencing with the Base Rent payment due on July 1, 2020, and ending with the Base Rent payment due on December 1, 2020. La Xxxx 1 1 05/04/20
Repayment of Deferred Rent. Subject to applicable law, all Deferred Base Rent and Deferred Additional Rent shall immediately and automatically become due if and only if (i) Tenant defaults under the Lease beyond any applicable notice or cure period; (ii) Tenant breaches Section 5.2 below; (iii) the Lease is terminated before its scheduled expiration date; (iv) a prohibited assignment of the Lease or a sublease of all or any portion of the Premises occurs; (v) Tenant transfers all or substantially all of its assets to a third party in violation of the terms of the Lease; (vi) Tenant makes an assignment for the benefit of creditors; or (vii) a receiver, liquidator or trustee is appointed for Tenant, or Tenant is adjudicated a bankrupt or insolvent, or any petition for bankruptcy, reorganization or arrangement pursuant to federal bankruptcy law, or any similar federal or state law, is filed by or against, consented to, or acquiesced in by, Tenant, or any proceeding for the dissolution or liquidation of Tenant is instituted (and, if such appointment, adjudication, petition or proceeding was involuntary and not consented to by Tenant, the same is not discharged, stayed or dismissed within 30 days). The determination of the amount of Deferred Base Rent and Deferred Additional Rent due and owing by Tenant to Landlord upon the occurrence of any of the items listed in the Exhibit 10.11.2 preceding sentence shall be made by Landlord in good faith and such good faith determination by Landlord shall be deemed final and binding on the parties, absent manifest error.
Repayment of Deferred Rent. The Rent Deferral Amount shall accrue interest from the date such amounts would otherwise have been payable under the Contract but for subsection 4.2.2.3 above, until the date of payment as set forth below, at a five percent (5%) annual rate, compounded monthly. The Rent Deferral Amount shall be paid by Concessionaire as follows: commencing on the day following the tenth (10th) anniversary of the Outside Completion Date and continuing on the same day of each month thereafter, Concessionaire shall pay monthly payments of the Rent Deferral Amount in equal monthly installments of principal and interest over a ten (10) year period. The outstanding unpaid balance of the Rent Deferral Amount may be prepaid by Concessionaire, in whole or in part, at any time.
