Base Rentals and Additional Rentals Clause Samples

The 'Base Rentals and Additional Rentals' clause defines the tenant's financial obligations under a lease, specifying both the fixed base rent and any supplementary charges that may arise. Typically, the base rent is a set amount paid regularly, while additional rentals can include costs such as property taxes, maintenance fees, or utilities that the tenant must reimburse to the landlord. This clause ensures that all monetary responsibilities are clearly outlined, preventing disputes over payment expectations and allocating the risk of variable property expenses.
Base Rentals and Additional Rentals. The District shall pay Base Rentals directly to the Trustee for distribution to the Owners in accordance with the Indenture during the Lease Term, on the due dates set forth in Exhibit B attached hereto and made a part hereof, as it may be amended or supplemented from time to time. The Base Rentals during the Lease Term shall be in an amount equal to the amounts in the "Total Base Rentals" column, as set forth in Exhibit B, as it may be amended or supplemented from time to time. There shall be credited against the amount of Base Rentals otherwise payable hereunder amounts equal to (i) that portion of the proceeds of the sale of any Certificates that is deposited in the Base Rentals Fund as accrued interest or capitalized interest, if any; (ii) any earnings derived from the investment of the Base Rentals Fund, (iii) any moneys deposited into the Base Rentals Fund pursuant to Section 3.4(b) of the Indenture; and (iv) any moneys otherwise deposited into the Base Rentals Fund and directed by the District to be applied toward Base Rentals. Five Business Days prior to the date on which any payment of Base Rentals is due, the Trustee shall notify the District as to the exact amounts which will be applied in reduction of Base Rentals due on such date. If further amounts applicable in reduction of Base Rentals accrue during such five Business Day period, such amounts shall be carried over to be applied as a reduction of the next succeeding payment of Base Rentals or, if such date is the final payment date, then such accrued amounts shall be applied as a reduction to the final payment of Base Rentals. The Base Rentals set forth in Exhibit B to this Lease shall be recalculated by the Trustee in the event of any partial redemption of the Certificates prior to maturity, as provided in Section 4.1 of the Indenture, and in the event of the issuance of Additional Certificates, as provided in Section 2.14(a) of the Indenture. The District shall pay Additional Rentals during the Lease Term as herein provided. The Additional Rentals during the Lease Term shall be estimated annually by the General Manager of the District (or any other officer at any time charged with the responsibility of formulating budget proposals for the District) and shall be in an amount sufficient to pay the following costs during the next ensuing Fiscal Year: (i) the reasonable fees and expenses of the Trustee and the Corporation; (ii) the cost of insurance premiums, (iii) the cost of maintenance, upk...
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Base Rentals and Additional Rentals. (a) The YMCA shall pay to the Bank, as the assignee and pledgee of the Town, the following Base Rentals for the Leased Pr operty in lawful money of the Un ited States of Amer ica on the dates and in the amounts as follows: (1) Commencing on December 31, 2001, and on each March 31, June 30, September 30 and December 31 thereafter, the amount which will equal the interest component of the Installment Payments due under the Contract; and (2) Commencing on March 31, 2002, and on each June 30, September 30, December 31 and M arch 31 ther eafter, the amount which will equal the principal component of the Installment Payments due under the Contract. (b) The Base Rentals shall be in the amount (whether at maturity or on prepayment or acceleration or otherwise) equal to the Installment Payment due under the Contract and shall be made on the date and in the manner necessary to discharge the Town’s obligation to make such Installment Payment under the Contract; (c) On each receipt of each Base Rental payment by the YMCA, the obligation of the Town to pay Installment Payments is satisfied and discharged to the extent of any corresponding payment made to the Bank under this Lease Agreement; (d) The YMCA shall immediately pay as Additional Rentals amounts to the appropriate party equal to, (1) any Additional Payments required to be made by the Town under the Contr act, (2) the fees and charges of the Bank incurred in connection with the rendering of its ordinary and extraordinary services under this Lease Agreement, as and when the same become due, including the reasonable fees and expenses of its counsel (3) the out-of-pocket expenses and fees of the Town, including the r easonable fees and expenses of counsel to the Town and any expenses of the Town in defending an action or proceeding in connection wit h this Lease Agr eement and any taxes or other expenses, including, but not limited to, licenses, permits, state and local sales and use or ownership taxes or property taxes which the Town is expressly required to pay as a result of this Lease Agreement (together with interest that may accrue thereon in the event that the YMCA shall fail to pay the same) and (4) any other cost or expense of the Town arising out of its participation as a party to the Contract or this Lease. If the YMCA should fail to make any of the payments required in this Section, the item or installment which the YMCA has failed to make shall continue as an obligation of the YMCA until t he same sha...
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Base Rentals and Additional Rentals. (a) The County shall pay all Base Rentals directly to the Trustee during the Original Term and all Renewal Terms, on the Base Rental Payment Dates and in the “Total Base Rentals” amounts set forth in Exhibit B, attached hereto and made a part hereof. The amount of Base Rentals otherwise payable hereunder shall be reduced by an amount equal to (i) the portion of the proceeds of the sale of the Series 2019 Certificates which is deposited in the Certificate Fund as accrued interest and capitalized interest;
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Base Rentals and Additional Rentals. (a) The Town shall pay all Base Rentals directly to the Lender during the Original Term and all Renewal Terms, on the Base Rental Payment Dates and in the “Total Base Rentals” amounts set forth in Exhibit B, attached hereto and made a part hereof, as it may be amended from time to time hereunder. (b) The Town may, during the Lease Term, on any Base Rental Payment Date on or after December 1, 2021, pay the then applicable Purchase Option Price related to the Leased Property for the purpose of terminating this Financing Lease and purchasing the Leased Property shown on Exhibit A, as further provided in Article XI of this Financing Lease. The Town shall give the Lender notice of its intention to exercise its option not less than 15 days in advance of the date of exercise and shall deposit with the Lender an amount equal to the Purchase Option Price on the date of exercise. The Town shall pay Additional Rentals during the Original Term and all Renewal Terms, if any, as herein provided. All Additional Rentals shall be paid by the Town on a timely basis directly to the person or entity to which such Additional Rentals are owed. If the Town’s estimates of Additional Rentals for any Fiscal Year are not itemized in the budget required to be furnished to the Lender under Section 4.01 of this Financing Lease, the Town shall furnish an itemization of such estimated Additional Rentals to the Lender on or before the last day of such Fiscal Year.
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Base Rentals and Additional Rentals. (a) The City shall pay all Base Rentals directly to the Lender during the Original Term and all Renewal Terms, on the Base Rental Payment Dates and in the amounts set forth in Exhibit B, which schedule is attached hereto and made a part hereof, as it may be amended from time to time hereunder. Any Base Rental not received by the Lender on or before its due date will bear interest on the amount past due at the rate of [8%] per annum from its due date, calculated on a 365/360 basis. (b) The City may, at any time during the Lease Term, pay the then-applicable Purchase Option Price related to the Leased Property for the purpose of terminating this Lease and purchasing the Leased Property shown on Exhibit A, as further provided in Article XI of this Lease. The City shall give the Lender notice of its intention to exercise its option not less than thirty (30) days in advance of the date of exercise and shall deposit with the Lender on or prior to the day such right is exercised an amount equal to the Purchase Option Price. The City shall pay Additional Rentals during the Original Term and all Renewal Terms, if any, as herein provided. All Additional Rentals shall be paid by the City on a timely basis directly to the person or entity to which such Additional Rentals are owed.
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Related to Base Rentals and Additional Rentals

  • Additional Rental (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.

  • Additional Rent Commencing on the Commencement Date, for each calendar year of the Term (prorated for any calendar year falling partially within the Term), Tenant shall pay to Landlord as additional rent Landlord’s Insurance (as defined below) and Real Property Taxes (collectively known as “Additional Rent”). Prior to the Commencement Date and at least thirty (30) days prior to the beginning of each calendar year thereafter, Landlord shall furnish to Tenant a written statement setting forth the following: (a) Landlord's estimate of ▇▇▇▇▇▇'s Additional Rent, and (b) a calculation of one-twelfth (1/12) of Landlord's estimate of ▇▇▇▇▇▇'s Additional Rent (“Monthly Estimated Rent”). Tenant shall pay to Landlord the Monthly Estimated Rent beginning on the Commencement Date and on the first day of every successive calendar month thereafter during the Term. Monthly Estimated Rent for a period of less than one month shall be prorated on a daily basis based on a three hundred sixty-five (365) day year. For each calendar year of the Term in which Tenant is responsible for paying Additional Rent, Landlord shall furnish to Tenant by written notice, delivered in accordance with Article 22 and within sixty (60) days after the end of such calendar year, a statement (“Landlord’s Statement”) in reasonable detail, including supportive documentation, setting forth (a) the amount of Tenant's actual responsibility for Additional Rent, and (b) the sum of Tenant's Monthly Estimated Rent payments made during the year. If the amount of Tenant's actual responsibility for Additional Rent exceeds the sum of Tenant's Monthly Estimated Rent payments, Tenant shall pay the deficiency to Landlord within forty-five (45) days after ▇▇▇▇▇▇'s receipt of such statement. If the sum of Tenant's Monthly Estimated Rent payments during the year exceeds the amount of Tenant's actual responsibility for Additional Rent, Landlord shall pay the excess to Tenant at the time Landlord furnishes the statement, or, if this Lease has not expired, may credit the excess toward the payments of Base Rent and ▇▇▇▇▇▇'s Monthly Estimated Rent next falling due. Landlord’s Statement shall be final and binding upon Landlord and Tenant unless Tenant objects to Landlord’s Statement within ninety (90) days from receipt. Landlord shall keep records showing all expenditures incurred as Additional Rent for each calendar year for a period of three (3) years following each year, and such records shall be made available for inspection and photocopying by Tenant and/or its agents during ordinary business hours at Landlord’s principal office. Any dispute with respect to ▇▇▇▇▇▇▇▇'s calculations of Tenant's actual responsibility for Additional Rent must be raised by Tenant within ninety (90) days of receipt of Landlord’s Statement in accordance with the delivery requirements in Section 12.2 and shall be resolved by the parties through consultation in good faith within sixty (60) days of written notice of disputed charge. However, if the dispute cannot be resolved within such period, the parties shall request an audit of the disputed matter from an independent, certified public accountant selected by both Landlord and Tenant, whose decision shall be based on generally accepted accounting principles and shall be final and binding on the parties. If there is a variance of five percent (5%) or more between said decision and Landlord's determination of Tenant's actual responsibility for Additional Rent, Landlord shall pay the costs of said audit and shall credit any overpayment toward the next Base Rent and/or Monthly Estimated Rent payment falling due or pay such overpayment to Tenant within thirty (30) days. If the variance is less than five percent (5%), Tenant shall pay the cost of said audit.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Basic Rental Tenant agrees to pay to Landlord during the Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the monthly and annual sums as set forth in Article 1.C. of the Basic Lease Provisions, payable in advance on the first (1st) day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first (1st) day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant's obligation to pay monthly Basic Rental for the second (2nd) and third (3rd) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 20(a) of this Lease, then as a part of the recovery set forth in Article 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Basic Rental that was abated under the provisions of this Section 3(a). The amount of Basic Rental to be abated pursuant to this Section 3(a) above may be referred herein as "Abated Rent Amount." Notwithstanding the foregoing or anything to contrary contained herein, upon written notice to Tenant, Landlord shall have the option to purchase all or any portion of Tenant's Abated Rent Amount by paying such amount to Tenant, in which case the amount so paid to Tenant shall nullify an equivalent amount of abatement of Tenant's Basic Rental as to the period so designated by Landlord in Landlord's written notice to Tenant. In addition, notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions and, if the Commencement Date is not the first day of a month, Basic Rental for the partial month commencing as of the Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Commencement Date.

  • Monthly Rent a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.