Common use of INITIAL TERM MINIMUM RENT Clause in Contracts

INITIAL TERM MINIMUM RENT. 2.1.1 Tenant shall pay to Landlord annual Minimum Rent which is equal to (i) $710,750.04 during the first twelve (12) month period of the Initial Term, and (ii) $728,750.04 during the next succeeding twelve (12) month period. All such Minimum Rent (as the same may be adjusted as hereinafter provided) shall be paid in equal monthly installments on the twenty-fifth (25th) day of each calendar month. 2.1.2 During the remainder of the Initial Term, annual Minimum Rent shall be equal to $740,022.46. 2.1.3 Notwithstanding the foregoing, Tenant may elect to pay a portion of the annual Minimum Rent due Landlord equal to (i) $638,750.04 annually during the first two (2) years of the Initial Term, and (ii) $700,022.46 annually during the remainder of the Initial Term, directly to NHI to be applied to the NHI Indebtedness (as such terms are hereinafter defined). The balance of the Minimum Rent then due from time to time shall be paid to Landlord as provided above.

INITIAL TERM MINIMUM RENT. 2.1.1 Tenant shall pay to Landlord annual Minimum Rent which is equal to (i) $710,750.04 473,833.36 during the first twelve (12) month period of the Initial Term, and (ii) $728,750.04 485,833.36 during the next succeeding twelve (12) month period. All such Minimum Rent (as the same may be adjusted as hereinafter provided) shall be paid in equal monthly installments on the twenty-fifth (25th25") day of each calendar month. 2.1.2 During the remainder of the Initial Term, annual Minimum Rent shall be equal to $740,022.46526,681.64. 2.1.3 Notwithstanding the the, foregoing, Tenant may elect to pay a portion of the annual Minimum Rent due Landlord equal to (i) $638,750.04 425,833.36 annually during the first two (2) years of the Initial Term, and (ii) $700,022.46 466,681.64 annually during the remainder of the Initial Term, directly to NHI to be applied to the NHI Indebtedness (as such terms are hereinafter defined). The balance of the Minimum Rent then due from time to time shall be paid to Landlord as provided above.