Contingent rent definition

Contingent rent means any rent that is not fixed rent, including any amount reflecting an adjustment based on a reasonable price index (as defined in paragraph (h)(10) of this section) or a variable interest rate provision (as defined in paragraph (h)(16) of this sec- tion).

Contingent rent has the meaning set forth in Section 3(c).

Contingent rent means the additional payment that may be paid by Lessee to Borrower pursuant to Section 3.3(f) of the Master Lease.

Examples of Contingent rent in a sentence

• Notwithstanding anything herein to the contrary, no Contingent Rent shall be payable hereunder after fifteen (15) NASCAR Cup Races have been held at the Premises.

• Any installment of Second Contingent Rent shall be paid within sixty (60) days after the end of the applicable NASCAR Cup Race Year to which such credit was applied.

• As an example and for avoidance of doubt, if the property tax payment from Bristol to the Metropolitan Government is $120,000 during the 2024 Lease Year, the quarterly Base Rent payments during the 2025 Lease Year shall be reduced by $30,000; provided that if the amount of such property tax payment exceeds the Minimum Rent for such Lease Year, such excess shall be offset against Additional Guaranteed Rent, Contingent Rent and Percentage Rent, as applicable, until Bristol has recouped such amounts in full.

• Lessee hereby reaffirms that its obligation to pay Supplemental Rent shall include the payment of any and all Contingent Rent.

• If such Contingent Rent Statement indicates that the total amount of the Minimum Annual Requirement and related costs for such calendar year is less than the total amount of CFC collections attributable to such calendar year, the State may apply such excess CFC collections, at the State’s discretion, first to other Eligible Costs and then as otherwise permitted under the terms and provisions of the CFC Statute or the Bond Documents, as the case may be.

More Definitions of Contingent rent

Contingent rent means, for any Tenant Site Asset as of any date of determination, the Rent paid by Tenants with respect to such Tenant Site Asset to an Asset Entity pursuant to a Tenant Lease in excess of the minimum rent payable by such Tenant under such Tenant Lease.

Contingent rent means any rentthat is not fixed rent, including anyamount reflecting an adjustment based on a reasonable price index (as defined in paragraph (h)(10) of this section) or a variable interest rate provision (asdefined in paragraph (h)(16) of this section).

Contingent rent shall be calculated as the product of (a) eighty-five percent (85%) of any per annum increase in the Consumer Price Index for all Items as published by the Department of Labor Bureau of Economics and Statistics reported during the preceding calendar quarter, and (b) the Capitalized Lessor's Cost of the Equipment, PLUS an amount to be determined based on the differential between (1) the average annual revenues generated at the Aladdin Hotel and Casino for the period from November 1, 1992, through November 18, 1997, and (2) the average annual revenues generated at the Aladdin Hotel and Casino for the period from the Construction Completion Date through and including the subsequent sixty (60) months; provided, however, that the maximum Contingent Rent shall not exceed that amount calculated as the following specified percentage of the Capitalized Lessor's Cost of the Equipment: if the Equipment is returned at the end of three (3) years, 13.66%; if the Equipment is returned at the end of four (4) years, 6.36%; and if the Equipment is returned at the end of five (5) years, 4.40%. "DEFAULT RATE" shall have the meaning assigned to it in SECTION 2(E). "DOL" shall mean the United States Department of Labor or any successor thereto. "DOLLARS" and "$" shall mean lawful money of the United States of America. "EARLY TERMINATION DATE" shall have the meaning assigned to it in Section 4 of the Master Lease Agreement. "ENVIRONMENTAL CLAIM" shall mean any accusation, allegation, notice of violation, claim, demand, abatement or other order or direction (conditional or otherwise) by any Governmental Authority or any Person for Personal Injury (including sickness, disease or death), tangible or intangible property damage, damage to the environment or other adverse effects on the environment or for fines, penalties or restrictions resulting from or based upon any release. "ENVIRONMENTAL LAWS" shall mean all federal, state and local laws, statutes, ordinances, orders and regulations, now or hereafter in effect, and in each case as amended or supplemented from time to time, and any applicable judicial or administrative interpretation thereof relating to the regulation and protection of human health, safety, the environment and natural resources (including, without limitation, ambient air, surface water, groundwater, wetlands, land surface or subsurface strata, wildlife, aquatic species and vegetation). Environmental Laws include, but are not limited to, the Comprehensive Environm...

Contingent rent means amounts payable to any Participant pursuant to Article XIII of the Participation Agreement.

Contingent rent means amounts payable to any Indemnitee pursuant to Section 13 of the Participation Agreement or which become due and payable to any Person pursuant to any provisions of Section 15.11, 15.17(c) or 15.20 of the Participation Agreement, Section 25.13 of the Lease or Section 7.11 of the Construction Agency Agreement.

Contingent rent shall be a temporary fee levied by the Authority pursuant to the Leases payable by the RACs to the Trustee in order to respond to an unexpected actual or anticipated decrease in Transaction Days in order to supplement CFC revenues in order to pay principal of and interest on the Bonds and the TIFIA Loan, to reimburse the Rolling Coverage Fund, the Supplemental Reserve Fund and the Debt Service Reserve Fund for any drawings upon such funds, and to meet certain other financial obligations under this Agreement and the Leases.

Contingent rent means any rent that is not fixed rent, including any amount reflecting an adjustment based on a reasonable price index.