Back Rent definition

Back Rent means that portion of Rent owed by an Affected Tenant that remains unpaid upon expiration of the Moratorium Period.
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Back Rent means the amount of unpaid Rental (other than accrued, but unpaid, Percentage Rent) as of the Reinstatement Date, including accrued simple interest on the unpaid Rental (other than accrued, but unpaid, Percentage Rent) from the date due at the default rate specified in the Recognized Mortgage, as well as reasonable attorneys' fees and costs at the trial court and all appellate levels and other expenses incurred by Owner in connection with enforcing this Lease. (d) "Equity Interest" means, with respect to any entity, (1) the legal (other than as a nominee) or beneficial ownership of outstanding voting or non-voting stock of such entity if such entity is a business corporation, a real estate investment trust or a similar entity, (2) the legal (other than as a nominee) or beneficial ownership of any partnership, Membership Interest or other voting 44 F:\MlNSKERIC.M.BIP ARKONEIPOGROUNDlEASE.EXEC 12-I.DOC m: I 8938rh2 412 or non-voting ownership interest in a partnership, joint venture, limited liability company or similar entity, (3) a legal (other than as a nominee) or beneficial voting or non-voting interest in a trust if such entity is a trust and (4) any other voting or non-voting interest that is the functional equivalent of any of the foregoing. (e) "Sale ofthe Project" means (i) any Assignment or Master Sublease by Tenant of fifty percent (50%) or more of Tenant's Interest in the Premises or (ii) any change, by operation of law or otherwise, in the ownership of an Equity Interest in Tenant wherein such change in ownership, directly or indirectly, produces any change in the Substantial Controlling Interest of Tenant. (f) "Master Sublease(s)" means any sublease (including a sub-sublease or any further level of subletting) of all or any portion of the Premises, but does not include subleases serving the functional equivalent of a Recognized Mortgage or subleases to actual space users or other subleases entered into in the ordinary course of business for parking, retail or other space at the Premises; provided, however, that in the event of a sublease of greater than Twenty Percent (20%) of the parking on the Premises (other than to subtenants of space in the Project to meet their parking needs), Owner shall have the right to approve the sublease and the subtenant. (g) "Master Subtenant" means any party granted rights by Tenant under a Master Sublease or by any other Master Subtenant (immediate or remote) under a Master Sublease. (h) "Transfer" means (i) an...
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Back Rent means (x) 5,317,803, representing 28% of shares of Common Stock, (y) the Residual Amount and (z) an amount equal to $62,000 (inclusive of any applicable taxes) for each calendar month (or portion thereof) from April 1, 2002 through the Effective Date in satisfaction of the Basic Rent accrued under the Old Equipment Lease and owed by Lessee through the Effective Date. “ ‘BASIC TERM EXPIRATION DATE’ shall mean the earliest of (i) April 30, 2008, (ii) the date on which the Obligations are paid in full, (iii) a Subsidiary Sale by Lessee or (iv) the declaration of such pursuant to Section 17. “ ‘OBLIGATIONS’ means Lessee’s obligations to pay Basic Rent, the Accrued Lease Obligation and Supplemental Rent, if any.
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Examples of Back Rent in a sentence

  • Landlord hereby acknowledges that except for the Back Rent Notes issued hereunder and the continuing obligations under the leases between Landlord and Nationwide for the properties located in City of Industry, CA and Benicia, CA, Nationwide owes no further amounts to Landlord in respect of any lease between the parties or their respective affiliates.

  • The Back Rent Notes will be in the form of the promissory note(s) attached hereto as Exhibit A, which will be substituted for the form of promissory note attached as Exhibit G to the Settlement Agreement and will be the promissory notes referenced in Section 2 of the Amendments to the Leases executed and delivered in accordance with the Settlement Agreement.

  • The Borrower shall use the proceeds from the Loan solely to fund the Back Rent Payment, the Nevada Palace Intercompany Loan and the Schiff Esquire Redemption and Payoff and for no other purpose whatsoever.

  • The Lease was subsequently amended by that certain Addendum, dated March 5, 2015, by that certain Settlement Agreement and Addendum to Commercial Lease Agreement, dated November 9, 2015, by that certain Agreement of Transfer of Licenses, dated May 9, 2017, by that certain Forth Amendment to Lease, dated June 5, 2017, and by that certain Conditional Release and Payment of Back Rent Agreement, dated October 5, 2017.

  • In the event this lease is terminated by Tenant (with or without Landlord's consent thereto, and whether a breach hereunder or not) or Tenant defaults in the payment or performance of its obligations hereunder, Guarantor shall immediately pay to Landlord all Back Rent due and to become due under the remaining initial term of the lease, together with all other sums due and owing (or accelerated at Landlord's election as permitted by Section 21 of the lease).

  • In the event Landlord sells the property of which the demised premises are a part, Tenant shall pay Current Rent as directed by the successor owner and Back Rent as directed by Landlord, notwithstanding the sale of the property.

  • Each of the Urban Parties, for itself and all of its affiliated persons or entities, hereby waives and releases AAGC and AASP, and the parent, subsidiary, and affiliated entities of AAGC and AASP, and the shareholders, officers, directors, members, partners, employees, attorneys, and agents of AAGC and AASP, from any Claims in any way related to the Golf Center Lease or the Golf Center Back Rent and arising prior to the SportPark Termination Time.

  • At Landlord's election, Landlord may direct Tenant to continue paying the Back Rent portion of Gross Rent directly to the successor owner, in which instance, successor owner shall cooperate with Landlord and forward the Back Rent portion of each monthly rent payment to Landlord.

  • As consideration for Landlord agreeing to enter into this lease and accept payment of Back Rent as set forth above, the undersigned Visual Data Corporation ("Guarantor"), the parent corporation of Tenant (Hotel View Corporation), hereby unconditionally and irrevocably guarantees the full and complete payment and performance by Tenant of all Tenant obligations under this lease.

  • To induce the Lender to make the Loan hereunder, the Borrower hereby represents and warrants to the Lender as of the date hereof that the proceeds of the Loan are to be used by the Borrower exclusively to fund the Back Rent Payment, the Nevada Palace Intercompany Loan and the Schiff Esquire Redemption and Payoff and for no other purpose whatsoever.


More Definitions of Back Rent

Back Rent has the meaning provided in Section 6.6(c).
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Related to Back Rent

  • Base Rent As defined in Section 3.1.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Additional Rent means any and all amounts, other than Basic Rent, required to be paid by the Tenant under this Lease, whether or not same are designated “Additional Rent” or whether or not the same are payable by Landlord;

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Annual Rent means the amount payable by Tenant to Landlord in respect of each year of the Term under Article 4.01.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Percentage Rent As defined in Subsection 3.1(b).

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Interim Rent means the pro-rata portion of Rent due for the period from the Commencement Date through but not including the first day of the first full Rent Interval included in the Initial Term.

  • Prepaid Rent means any payment of money to the landlord for a rent obligation not yet

  • Insurance Rent the sums described in paragraph 1.1 of Schedule 4; “Insured Risks” the risks of fire (including subterranean fire), lightning, explosion, storm, flood, subsidence, landslip, heave, earthquake, burst or overflowing water pipes, tanks or apparatus, impact by aircraft or other aerial devices and any articles dropped from them, impact by vehicles, terrorism, riot, civil commotion and malicious damage to the extent, in each case, that cover is generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, and any other risks against which the Landlord reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers;10

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.