Example ContractsClausesAnnual Fixed Rent
Annual Fixed Rent
Annual Fixed Rent contract clause examples
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If the dispute between the parties as to the Market Rate has not been resolved before the commencement of Tenant’s obligation to pay the Annual Fixed Rent based upon determination of such Market Rate, then Tenant shall pay the Annual Fixed Rent under the Lease based upon the Market Rate designated by Landlord in Landlord’s Notice until either the agreement of the parties as to the Market Rate, or the decision of the appraiser(s), as the case may be, at which time Tenant shall pay any underpayment of the Annual Fixed Rent to Landlord, or Landlord shall refund any overpayment of the Annual Fixed Rent to Tenant.

Commencing on the Expansion Date, in addition to Annual Fixed Rent for the Original Premises as set forth in [Section 1.1] of the Lease (as amended hereby), Tenant shall pay Annual Fixed Rent for the Expansion Premises in accordance with the following schedule:

Base Annual Rent. Subject to the prepaid rent provisions of [Section 3.4], Tenant will pay as the monthly installment of “Base Annual Rent” for each month of the Term, the sum set forth in the Basic Lease Provisions, in advance on the first day of each calendar month of the Term, without deduction, offset, prior notice, or demand, and in lawful money of the United States. If the Commencement Date is not the first day of a calendar month, Tenant will pay to Landlord on the Commencement Date a portion of the monthly installment of Base Annual Rent prorated on the basis of a thirty (30) day month.

Annual Base Rent. Effective as of the Replacement Premises Commencement Date, [Section 4.01] of the Original Amended Lease is deleted in its entirety and replaced with the following:

5.1Rent Adjustment Provisions5

Basic Annual Rent. Tenant agrees to pay to Landlord as basic annual rent (the “Basic Annual Rent”) at such place as Landlord may designate, without prior demand therefore and without any deduction or set off whatsoever, the sum of Four Million One Hundred Forty-Two Thousand Six Hundred Thirty dollars and 70/100 ($4,142,630). Said Basic Annual Rent shall be due and payable in twelve (12) equal monthly installments to be paid in advance on or before the first day of each calendar month during the term of the Lease. Commencing on the first anniversary of the Commencement Date and on each anniversary of the Commencement Date thereafter (each, an “Adjustment Date”), Basic Annual Rent shall escalate at the Applicable Escalation Rate (as defined below) on a cumulative basis. In the event the Commencement Date occurs on a day other than the first day of a calendar month, then rent shall be paid on the Commencement Date for the initial fractional calendar month prorated on a per-diem basis (based upon a thirty (30) day month). For purposes hereof, the Applicable Escalation Rate shall mean, at the applicable Adjustment Date, the lessor of # 3.0% per year and # the change in the All Urban Index (as defined below) from the Base Price Index (as defined below); provided that in no event that the Applicable Escalation Rate be less than 1.5% per year. For purposes of this Lease the term “All Urban Index” shall mean the Consumer Price Index for All Urban Consumers­ U.S. City Average-All Items (1982-1984 equals 100 base) as published by the United States Bureau of Labor Statistics or any successor agency or any other index hereinafter employed by the Bureau of Labor Statistics in lieu of said index, as of the date that is one (1) month prior to the applicable Adjustment Date. The price index for the month that is thirteen (13) months prior to the applicable Adjustment Date shall be considered the “Basic Price Index.”

Tenant agrees to pay to Landlord, without offset or deduction and without previous demand therefor, annual Fixed Rent during each Lease Year (as defined below) of the Term. The annual Fixed Rent during the original Term shall be as provided in Section 1.2 above.

The definition of “Annual Fixed Rent” set forth in [Section 1.1] of the Lease is hereby further amended to reflect that # the Annual Fixed Rent for the Original Premises for the first year of the Original Premises Extension Term shall be equal to one hundred and three percent (103%) of the Annual Fixed Rent in effect with respect to the Original Premises on the day preceding the commencement of such Original Premises Extension Term without giving effect to any abatements, set-offs or concessions then in effect (i.e., $2,513,721.36 per annum for the first (1st) twelve months of the Original Premises Extension Term), and # the Annual Fixed Rent for the Original Premises for each succeeding year of the Original Premises Extension Term shall be equal to one hundred and three percent (103%) of the Annual Fixed Rent for the Original Premises for the immediately preceding year without giving effect to any abatements, set-offs or concessions then in effect. As amended by Section 9 hereof and this Section 10, the Annual Fixed Rent schedule set forth in [Section 1.1] of the Lease shall remain in full force and effect.

April 1, 2020 - June 30, 2020No Annual Fixed Rent due per month

July 1, 2020 – December 31, 2020$144,603.02 Annual Fixed Rent per month

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