Additional Monthly Compensation. In addition to the base rent, commencing on the second anniversary of the Rent Commencement Date, Lessee shall be responsible to pay Landlord additional rent equal to three percent (3%) of Lessee’s gross sales in excess of One Million, Five Hundred Thousand and no/100 Dollars ($1,500,00.00) per year, not including Florida Sales and Use Taxes collected, if any, derived from the Leased Premises. Said gross sales shall be determined on a monthly basis and shall be due and payable to Landlord on or before the fifteenth day of the following month during which it has been determined that the annual gross sales have exceed One Million Five Hundred Thousand Dollars. Unless otherwise agreed in writing, the annual calculation shall begin on January 1 of each year and end on December 31. Along with the rent payment, the Lessee shall furnish a fully executed copy of the monthly Sales and Use Tax Return (DR-15CS), as submitted to the Florida Department of Revenue.
Appears in 2 contracts
Sources: Lease Agreement, Absolute Net Non Subordinated Lease