Base Gross Revenues set forth in Section 1.9 of the Lease is deleted in its entirety and replaced with the following: “Intentionally deleted.”
Base Gross Revenues means the amount of Gross Revenues for the Leased Property for the Base Year, provided, however, that in the event that, with respect to any Lease Year, or portion thereof, for any reason (including, without limitation, a casualty or Condemnation) there shall be a reduction in the number of units available at any Facility located at the Leased Property or in the services provided at such Facility from the number of such units or the services provided during the Base Year, in determining Additional Rent payable for such Lease Year, Base Gross Revenues shall be reduced as follows: (a) in the event of the termination of this Agreement with respect to any Property pursuant to Article 10, 11 or 12, all Gross Revenues for such Property for the period during the Base Year equivalent to the period after the termination of this Agreement with respect to such Property shall be subtracted from Base Gross Revenues; (b) in the event of a partial closing of any Facility affecting the number of units, or the services provided, at such Facility, Gross Revenues attributable to units or services at such Facility shall be ratably allocated among all units in service at such Facility during the Base Year and all such Gross Revenues attributable to units no longer in service shall be subtracted from Base Gross Revenues throughout the period of such closing; and (c) in the event of any other change in circumstances affecting any Facility, Base Gross Revenues shall be equitably adjusted in such manner as Landlord and Tenant shall reasonably agree.
Base Gross Revenues means the Gross Revenues with respect to each Property, for the respective calendar years or the respective dollar amount set forth on Schedule 1 attached hereto and made a part hereof, as applicable; provided, however, that in the event that, with respect to any Lease Year, or portion thereof, for any reason (including, without limitation, a casualty or Condemnation) there shall be a reduction in the number of units available at any Facility located at the applicable Property or in the services provided at such Facility from the number of such units or the services on the applicable Commencement Date, in determining Additional Rent payable for such Lease Year, Base Gross Revenues shall be reduced as follows: (a) in the event of a partial closing of any Facility affecting the number of units, or the services provided, at such Facility, Gross Revenues attributable to units or services at such Facility shall be ratably allocated among all units in service at such Facility on the applicable Commencement Date and all such Gross Revenues attributable to units no longer in service shall be subtracted from Base Gross Revenues throughout the period of such closing; and (b) in the event of any other change in circumstances affecting any Facility, Base Gross Revenues shall be equitably adjusted in such manner as Landlord and Tenant shall reasonably agree.
Examples of Base Gross Revenues in a sentence
Xxxxxx, XX 00000 2005 $13,258,998 01/11/2002 10.0% Exhibit Property Address Base Gross Revenues (Calendar Year) Base Gross Revenues (Dollar Amount) Commencement Date Interest Rate A-55 Park Summit at Coral Springs 0000 Xxxxx Xxxx Xxxx.
The Additional Rent for each Renewal Term shall be calculated as provided in Section 2.2 hereof except that Base Gross Revenues for purposes of determining such Additional Rent shall be the amount of Gross Revenues for the first Lease Year of the applicable Renewal Term.
Such Additional Rent shall be equal to eleven percent (11%) of the amount by which the Gross Revenues for the applicable quarter of such Lease Year exceed Base Gross Revenues for the corresponding quarter of the Base Year.
As used herein and in the Lease: the term “Base Gross Revenues” shall mean, with respect to any Property, the amount of Gross Revenues for such Property for the Base Year; and the term “Excess Gross Revenues” shall mean, with respect to any Property, with respect to any Lease Year, or portion thereof, the amount of Gross Revenues for such Property for such Lease Year, or portion thereof, in excess of Base Gross Revenues for such Property for the equivalent period during the Base Year.
In determining Additional Rent for any partial Lease Year, Base Gross Revenues for such partial Lease Year shall be determined by multiplying the applicable Base Gross Revenues by a fraction, the numerator of which is the number of days in the partial Lease Year and the denominator of which is 365.
More Definitions of Base Gross Revenues
Base Gross Revenues means the Gross Revenues for the Leased Property for the 2012 calendar year; provided, however, that in the event that, with respect to any Lease Year, or portion thereof, for any reason (including, without limitation, a casualty or Condemnation) there shall be a reduction in the number of units available at the Facility or in the services provided at the Facility from the number of such units or the services on the Commencement Date, in determining Additional Rent payable for such Lease Year, Base Gross Revenues shall be reduced as follows: (a) in the event of a partial closing of the Facility affecting the number of units, or the services provided, at the Facility, Gross Revenues attributable to units or services at the Facility shall be ratably allocated among all units in service at the Facility on the Commencement Date and all such Gross Revenues attributable to units no longer in service shall be subtracted from Base Gross Revenues throughout the period of such closing; and (b) in the event of any other change in circumstances affecting the Facility, Base Gross Revenues shall be equitably adjusted in such manner as Landlord and Tenant shall reasonably agree.
Base Gross Revenues means, with respect to any Property, the amount of Gross Revenues for such Property for the Base Year.
Base Gross Revenues means Gross Revenues for the Base Year; ------------------- provided, however, that in the event that, with respect to any Lease Year, or -------- ------- portion thereof, for any reason (including, without limitation, a casualty or Condemnation) there shall be a reduction in the number of rooms at the Hotel or any other Hotel (as defined in the Other Leases) or a change in the services provided at the Hotel or such other Hotels (including, without limitation, closing of restaurants) from the number of rooms or the services provided during the Base Year, in determining Additional Rent payable with respect to such Lease Year, Base Gross Revenues shall be reduced as follows: (a) in the event of the termination of any of the Other Leases, all Gross Revenues attributable to the Leased Property demised thereunder during the Base Year shall be subtracted from Base Gross Revenues; (b) in the event of a complete closing of a Hotel, all Gross Revenues attributable to such Hotel during the Base Year shall be subtracted from Base Gross Revenues throughout the period of such closing; (c) in the event of a partial closing of a Hotel affecting any number of guest rooms in such Hotel, Gross Revenues attributable to guest room occupancy or guest room services at such Hotel during the Base Year shall be ratably allocated among all guest rooms in service at such Hotel during the Base Year and all such Gross Revenues attributable to rooms no longer in service shall be subtracted from Base Gross Revenues throughout the period of such closing; (d) in the event of a closing of a restaurant, all Gross Revenues attributable to such restaurant during the Base Year shall be subtracted from Base Gross Revenues throughout the period of such closing; and (e) in the event of any other change in circumstances affecting any Hotel, Base Gross Revenues shall be equitably adjusted in such manner as Landlord and Tenant shall reasonably agree.
Base Gross Revenues. With respect to each applicable Emeritus Property and the Painted Post Property, “Base Gross Revenues,” as defined in the Emeritus Master Lease or the Painted Post Lease, respectively, with respect to such Property.
Base Gross Revenues means the amount of Gross Revenues for the Base Year. "Base Year" shall mean the Lease Year from July 1, 2000 to June 30, 2001.
Base Gross Revenues. As defined on Schedule 3.1.2. BLS: Bureau of Labor Statistics, U.S. Department of Labor.
Base Gross Revenues means, with respect to the Murrieta Facility, [***]. Base Gross Revenues for any partial Rent Year shall be determined by multiplying the applicable Base Gross Revenues by a fraction, the numerator of which is the number of days in the partial Rent Year and the denominator of which is 360.