Annual Basic Rent definition

Annual Basic Rent means the annual basic rent payable by Tenant for the Leased Premises that are subject, from time to time, to this Lease. During the Initial Term of this Lease, the Annual Basic Rent for each Property shall equal the Net Rentable Area of the Leased Premises for such Property multiplied by the applicable Annual Basic Rent Factor, except that the Annual Basic Rent for any Short Term Expansion Space shall equal the Fair Market Rental Value of such Short Term Expansion Space as provided in Article X. During the Renewal Terms of this Lease, the Annual Basic Rent for each Property shall equal the Fair Market Rental Value of the Leased Premises within such Property, subject, if applicable, to the limitations set forth in Section 1.4(c). The Annual Basic Rent due under this Lease shall equal the sum of all Annual Basic Rents due with respect to each Property. Annual Basic Rent shall be re-calculated each time there is a change in the Annual Basic Rent Factor or in Tenant’s Occupancy Percentage for a Property or a required conversion to, or adjustment in, the Fair Market Rental Value of a Property.

Annual Basic Rent means the annual basic rent payable by Tenant under this Lease for the Leased Premises, which Annual Basic Rent shall, from time to time, be equal to the sum of (I) the product of (i) the Annual Basic Rent Factor, multiplied by (ii) the Net Rentable Area of the Base Leased Premises, plus (II) if any Short-Term Additional Space is then part of the Leased Premises, then, as to each thereof, the product of (i) the STAS Basic Rental Factor for such Short-Term Additional Space, multiplied by (ii) the Net Rentable Area of such Short-Term Additional Space. The Annual Basic Rent due under this Lease shall be re-calculated each time there is a change in (x) the Net Rentable Area of the Leased Premises (due to additions to, or deletions from, the Leased Premises), (y) the Annual Basic Rent Factor (including a change in the Initial ABR Factor pursuant to the proviso in the definition thereof), or (z) the STAS Basic Rental Factor for any Short-Term Additional Space; with any such re-calculation being effective as of the date of such change. Upon any such re-calculation, Landlord and Tenant shall execute and deliver a written instrument confirming the same, and incorporating the same into this Lease. ________________________________________________________________________________________________________________________

Annual Basic Rent. December 15, 1997 through December 31, 1997-Rent at no charge. 1. $44,950.00 ($3,745.83/month) based upon a rental rate of $14.50 PSF 1/1/98 through 12/31/98. 2. $46,500.00 ($3,875.00/month) based upon a rental rate of $15.00 PSF 1/1/99 through 12/31/99 3. $48,050.00 ($4,004.17/month) based upon a rental rate of $15.50 PSF 1/1/2000 through 12/31/2000.

Examples of Annual Basic Rent in a sentence

• Upon final determination of the Fair Market Rental Value, an appropriate adjustment to the Annual Basic Rent theretofore paid by Tenant from and after the Determination Date shall be made reflecting such final determination, and Landlord or Tenant, as the case may be, shall promptly credit or pay, respectively, to the other any overpayment of deficiency, as the case may be, in the payment of Annual Basic Rent from the Determination Date to the date of such final determination.

• The Tenant covenants and agrees to pay to the Landlord, in lawful money of Canada, without any set-off, compensation, or deduction whatsoever, on the days and at the times hereinafter specified, Percentage Rent, in addition to and not in substitution for or in partial payment of Annual Basic Rent.

• The Tenant will provide the Landlord with a series of 12 post-dated cheques for monthly Annual Basic Rent and Additional Rent on the Commencement Date and on each yearly anniversary thereafter during the Term and any extension or renewal thereof.

• The Annual Basic Rent payable during the Extended Term shall be the greater of the Annual Basic Rent payable during the final year of the Term or the fair market basic rent for the Premises as at the commencement of the Extended Term.

• If, however, the parties have not agreed to the amount of Annual Basic Rent by the 120th day prior to the commencement of the Extended Term, then, at the Landlord’s option, the option to extend shall be null and void and the Tenant shall surrender the Premises at the end of the Term.

More Definitions of Annual Basic Rent

Annual Basic Rent means the amount specified as such in subsection 1.1 (e):

Annual Basic Rent means the annual basic rent set out in Section 1.1(f);

Annual Basic Rent means the annual basic rent payable by Tenant for the Leased Premises that are subject, from time to time, to the Lease, which Annual Basic Rent shall be calculated as herein provided. During the Initial Term and any Initial Renewal Term of this Lease, the Annual Basic Rent shall be equal to the Net Rentable Area of the Leased Premises multiplied by the Annual Basic Rent Factor, except that the Annual Basic Rent for any Expansion Space shall equal the Fair Market Rental Value of such Expansion Space as provided in Article X. During the Extended Renewal Terms of this Lease, the Annual Basic Rent shall equal the Fair Market Rental Value of the Leased Premises as provided in Section 1.4(d); provided, however, that the Annual Basic Rent Factor used to calculate such Annual Basic Rent payable during an Extended Renewal Term shall not be greater than the Annual Basic Rent Factor for such Extended Renewal Term as set forth in Schedule 1 attached hereto. [Note: In the event Tenant executes a Continuing Term Separate Lease, references to Initial Renewal Term in this definition shall be omitted.]

Annual Basic Rent. Annual Basic Rent shall be payable in twelve (12) equal monthly installments in advance on the first day of each month, according to the following schedule: Lease Months Annual Basic Rent Monthly Payment 11/1/03 – 10/31/04 $35,582.50 $2,965.21 11/1/04 – 10/31/05 $36,658.25 $3,054.85 11/1/05 – 10/31/06 $37,816.75 $3,151.40 (Article 3)

Annual Basic Rent means the minimum annual rent reserved hereunder payable by the Tenant as set forth in Item (k) of the Lease Summary, which amount includes the Occupancy Costs;

Annual Basic Rent. As follows:

Annual Basic Rent means, with respect to the first year of the Term, the sum of FOUR THOUSAND EIGHT HUNDRED THIRTY-NINE DOLLARS AND NINETEEN CENTS ($4,839.19) plus GST. For the second year of the Term, the Annual Basic Rent shall increase by an amount equal to the percentage change in the Consumer Price Index – All Items Inventory for Victoria, British Columbia, published by Statistics Canada, over the most recent calendar year for which data is available as of the date of commencement of the second year of the Term, being April 1, 2014. For the third year of the Term, the Annual Basic Rent shall be the amount determined for the second year of the Term increased by an