Minimum Annual Rent definition

Minimum Annual Rent shall have the meaning ascribed thereto in Section 4.1.

Minimum Annual Rent. $682,550.04 (Six hundred eighty-two thousand five hundred fifty and 04/100 Dollars), payable in monthly installments of $56,879.17 (Fifty-six thousand eight hundred seventy-nine and 17/100 Dollars), increased as follows: Lease Year Annual Monthly Lease Year Annual Monthly 2 $ 696,201.00 $ 58,016.75 6 $ 753,590.40 $ 62,799.20 3 710,125.08 59,177.09 7 768,662.16 64,055.18 4 724,327.56 60,360.63 8 784,035.36 65,336.28 5 738,814.08 61,567.84 9 799,716.12 66,643.01 10 815,710.44 67,975.87

Minimum Annual Rent means the rental payable by Tenant for the use and occupancy of the Premises and is more specifically set forth in Section 1.9.

Examples of Minimum Annual Rent in a sentence

• Any amount required to be paid by Tenant hereunder (in addition to Minimum Annual Rent) and any charges or expenses incurred by Landlord on behalf of Tenant under the terms of this Lease shall be considered “Additional Rent” payable in the same manner and upon the same terms and conditions as the Minimum Annual Rent reserved hereunder, except as set forth herein to the contrary.

• Any failure on the part of Tenant to pay such Additional Rent when and as the same shall become due shall entitle Landlord to the remedies available to it for non-payment of Minimum Annual Rent.

• Tenant shall pay to Landlord the Minimum Annual Rent in the Monthly Rental Installments, as set forth in Section 1.01(c) of this Lease, in advance, without demand, deduction or offset except as otherwise expressly provided in this Lease, commencing on the Rent Commencement Date and on or before the first day of each and every calendar month thereafter during the Lease Term.

• The Minimum Annual Rent calculation shall be adjusted based upon the Survey acreage and square feet.

• The Minimum Annual Rent is based on an appraisal that determined the fair market rent of $0.45 per square foot.

More Definitions of Minimum Annual Rent

Minimum Annual Rent shall be as follows:

Minimum Annual Rent. FOR BUILDING B-1": Minimum Annual Minimum Annual Lease Rent Per Rentable Lease Rent Per Rentable Year Square Foot Annual Monthly Year Square Foot Annual Monthly ---- ----------------- ------ ------- ---- ----------------- ------ ------- 1 $10.39 $476,038.68 $39,669.89 6 $11.47 $525,521.04 $43,793.42 2 10.59 485,202.00 40,433.50 7 11.70 536,058.96 44,671.58 3 10.81 495,281.76 41,273.48 8 11.93 546,596.76 45,549.73 4 11.02 504,903.36 42,075.28 9 12.17 557,592.84* 46,466.07 5 11.24 514,983.12 42,915.26 *prorated to any partial year

Minimum Annual Rent. $41,487.96 (Forty-one Thousand Four Hundred Eighty-seven and 96/100 Dollars), payable in monthly installments of $3,457.33 (Three Thousand Four Hundred Fifty-seven and 33/100 Dollars), increased as follows: Lease Year Annual Monthly 2 $42,317.76 $3,5262.48 3 43,164.00 3,597.00

Minimum Annual Rent. $70,150.63 (Seventy Thousand One Hundred Fifty and 63/100 Dollars), payable in monthly installments of $5,845.89 (Five Thousand Eight Hundred Forty-five and 89/100 Dollars), increased as follows:

Minimum Annual Rent. (as defined in Section 4.1 of this Lease) which shall be due and payable during the first Renewal Term, if exercised by Tenant, shall be determined prior to the commencement of each applicable Renewal Term and shall be equal to three percent (3.0%) of the average of annual Gross Sales at the Premises for the two (2) Lease Years preceding the commencement of the applicable Renewal Term. Percentage Rent for the first Renewal Term shall be calculated in accordance with the terms of Section 4.2 of this Lease.

Minimum Annual Rent is defined in Section 3.2.1(a) below.

Minimum Annual Rent. (subject to adjustment in accordance with the provisions of Section 1.01(b) above): Year 1 $ 2,792,482.44 Year 2 $ 3,779,159.57 Year 3 $ 3,854,742.76 Year 4 $ 3,931,837.62 Year 5 $ 4,010,474.37 Year 6 $ 4,090,683.86 Year 7 $ 4,172,497.53 Year 8 $ 4,255,947.48 Year 9 $ 4,341,066.43 Year 10 $ 4,427,887.76 Year 11 $ 1,112,425.00