Rental Year definition

Rental Year means each successive twelve (12) calendar month period occurring during the Term of this Lease, or portion of such a period, with the first Rental Year commencing as of the Lease Commencement Date and ending on the last day of the twelfth full calendar month thereafter and the last Rental Year ending on the Termination Date. For any Rental Year of less or more than twelve full months, Annual Basic Rent shall be adjusted accordingly. All Annual Basic Rent and Additional Rent shall be paid to Landlord at the Landlord Payment Address.

Rental Year means a period of 12 consecutive full calendar months, the first Rental Year beginning on the Commencement Date if such date is the first day of a calendar month; if not, then the first Rental Year shall commence upon the first day of the calendar month next following the month in which the Commencement Date occurs. Each succeeding Rental Year shall commence upon the anniversary date of the first Rental Year.

Rental Year means the calendar year. However, the first Rental Year shall mean the period from the Commencement Date to December thirty-first, and the final Rental Year shall mean the period from the end of the next-to-last Rental Year to the date of termination of this Lease. Landlord may by written Notice to Tenant specify an annual date upon which each subsequent Rental Year will commence, in which event the then current Rental Year for such purposes will terminate on the day preceding such date.

Examples of Rental Year in a sentence

• Developer covenants and agrees to pay the City, as additional annual rent (“Participation Rent”), an amount equal to ten percent (10%) of the amount by which: (i) Gross Operating Profit for such Rental Year exceeds (ii) the then Participation Rent Hurdle for such Rental Year.

• JoePC shall pay the City as Participation Rent for the Restaurant the amount determined by multiplying Gross Restaurant Revenue for that same Generation Month by the appropriate percentage shown upon Exhibit I in relation to the total Gross Restaurant Revenue for the applicable Rental Year.

• Annual Basic Rental shall be paid annually in advance commencing on the second day of January in the year succeeding the end of the first Rental Year and shall be paid to the CRA at 00 X.X. Xxxxx Xxxxxx, Xxxxx 000, Xxxxx, Xxxxxxx 00000, or at such other place as the Executive Director shall designate from time to time in a notice given pursuant to the provisions of Section 22.5 in the amount specified on Exhibit F.

• No later than November 15 of each year during the Term, Participation Rent for the immediately preceding Rental Year (October – September) shall be recomputed using the same formulae respecting Hotel Revenues and Restaurant Revenues, respectively, but based upon the aggregate data obtained during Rental Year (“Final Participation Rent”).

• The amount due for each Rental Year shall be payable within thirty (30) days of the delivery of the Audited Financial Statements to the Developer.

More Definitions of Rental Year

Rental Year means the period of twelve (12) consecutive months following the Commencement Date, and each subsequent twelve-month period thereafter.

Rental Year means a period of twelve (12) consecutive calendar months.

Rental Year shall begin on the Commencement Date and shall end at the close of the twelfth full calendar month following the Commencement date; thereafter a Rental Year shall consist of successive periods of twelve calendar months. Any portion of the Term remaining at the end of the last full Rental Year shall constitute the final Rental Year and rentals and all other charges shall be apportioned therefore and promptly paid as provided herein on the basis of the number of days in such final Rental Year divided by 365 days.

Rental Year means that period commencing on the Rent Commencement Date and terminating on either (a) at the close of the last calendar month to occur prior to the first (1st) anniversary of the Rent Commencement Date, if the Rent Commencement Date shall occur on the first day of a calendar month; or (b) at the close of the calendar month to occur during the first (1st) anniversary of the Rent Commencement Date, for a Rent Commencement Date occurring on any other date; and thereafter, in all circumstances, consisting of successive periods of twelve (12) calendar months each. Rental Years shall be referred to as Rental Year “x” where “x” equals the sequential Rental Year number beginning with the first Rental Year, referred to as Rental Year 1.

Rental Year means a period of time, the first Rental Year commencing on the first day of the Term hereof, and ending on the last day of the month of December immediately following. Each Rental Year thereafter shall consist of consecutive periods of twelve (12) calendar months, but the last Rental Year of the Term shall terminate on the expiration or earlier termination of this Lease. If, however, the Landlord considers it necessary or convenient for the Landlord's purposes, the Landlord may at any time and from time to time, by written notice to the Tenant, specify a date from which each subsequent Rental Year is to commence, and in such event, the then current Rental Year shall terminate on the day immediately preceding the commencement of such new Rental Year, and the appropriate adjustments shall be made between the parties.

Rental Year means every period of 12 consecutive months during the Term, commencing with the first day of the calendar month in which occurs the Commencement Date.

Rental Year means a period of one (1) year, with the first Rental Year commencing on the date that is the first day following the end of the Rent Free Months and expiring on the day preceding the first anniversary of the date that is the first day following the end of the Rent Free Months, and each subsequent Rental Year commencing upon the expiration of the prior Rental Year and continuing until the next subsequent anniversary of the Rent Commencement Date.