Minimum Rent Adjustment Sample Clauses

Minimum Rent Adjustment. Should Tenant exercise its option to extend the initial Term as set forth in SECTION 2.2 hereinabove, then the monthly Minimum Rent payable during such option period shall increase, beginning with the first day of the extension term and on each anniversary thereof thereafter. The initial increase and each annual increase thereafter shall be in a percentage equal to the greater of (i) three percent (3.0%) of the Minimum Rent in effect during the preceding period, or (ii) the percentage increase, if any, in the consumer price index for Urban Wage Earners and Clerical Workers (1982-1984=100), U.S. City Average For All Items, as published by the United States Department of Labor, Bureau of Labor Statistics (the "CPI"). If such CPI is discontinued or revised during the term hereof, then such other index or computation with which it is replaced shall be used. The CPI increase, if any, shall be calculated by comparing the CPI figure for the month immediately preceding the adjustment date with the CPI figure for the same month of the proceeding year. Landlord shall submit a statement to Tenant each year of the extension term reflecting the increase, if any, in the CPI as herein provided. If such statement is delayed, Tenant shall pay increased Minimum Rent based on the three percent (3.0%) minimum increase stated above, effective upon the adjustment date, and shall immediately pay to Landlord any deficiency in rent due upon submission of said CPI statement.
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Minimum Rent Adjustment. The Minimum Rent payable under the provisions of Article 5.1 shall be adjusted, as herein provided. Commencing the first day of the second Lease Year, the Minimum Rent shall be increased as set forth in Article 2.1.
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Minimum Rent Adjustment. [RESERVED]
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Minimum Rent Adjustment. Minimum Rent for the Subleased Premises shall ----------------------- be adjusted annually by adding two and one-half percent (2.5%) to the Minimum Rent for the previous twelve (12) month period of the Sublease Term, commencing (i) one (1) year after the Sublease Rent Commencement Date for the First Floor Space ("Second Sublease Year"), and (ii) October 1, 2000 for the Second Floor Space and the Third Floor Space. Minimum Rent, as adjusted, for the Subleased Premises shall increase annually at such rate on the date which is twelve (12) months from the aforesaid dates and shall continue to increase as stated throughout the Sublease Term.
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Minimum Rent Adjustment. Minimum rent is subject to adjustment as provided in Section 38 of the Lease.
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Minimum Rent Adjustment. The Minimum Rent as set forth in Section 4.1 above shall be increased for each year of the term of this Lease following the first year (“Subsequent Year”) if the Consumer Price Index for Urban Wage Earners and Clerical Workers (San Francisco/Oakland/San J▇▇▇, Area: Base 1982/1984 = 100) (“Index”), as published by the United States Department of Labor, Bureau of Labor Statistics, for the “Comparison Month” (described below) increases over the Index for the calendar month which is four (4) months prior to the month in which Minimum Rent commences (“Base Month”). The Base Month Index shall be compared with the Index for the same calendar month for each Subsequent Year (“Comparison Month”). If the Index for any Comparison Month is higher than the Base Month Index, then the Minimum Rent for the Subsequent Year following the Comparison Month shall be increased commencing with the first month of such Subsequent Year by a percentage which shall be calculated by dividing the Base Month Index into that number which represents the difference, if any, when subtracting the Base Month Index from the index for any Comparison Month. In no event shall the Minimum Rent be less than that set forth in Section 4.1 above. By way of illustration only, if Tenant commences paying Minimum Rent in August of 1996, then the Base Month Index would be that for April, 1996 (assume such Index at 130) and that Index shall be compared with the Index for April ,1997 (assume such Index at 136), and because the Index for April 1997 is 4.6% higher than the Index for April, 1996 based on the assumptions of 136 and 130, respectively, the Minimum Rent commencing in August of 1997 would be 4.6% higher than the Minimum Rent for the month of August, 1996; likewise the Index for April, 1998 would be compared with the Index for April, 1996. Should said Bureau discontinue the publication of the above Index, or publish the same less frequently, or after the same in some other manner, then Landlord shall adopt a substitute index or substitute procedure which reasonably reflects and monitors consumer prices.]
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Minimum Rent Adjustment. Effective at the beginning of the first day of the sixth lease year of this Lease, and at the beginning of each two and one-half year period thereafter, during the term, the annual minimum rent shall be eighty percent (80%) of the annual average of actual rents paid or accrued during the two (2) years preceding the adjustment date. Said annual minimum rent shall then be divided by twelve (12) to establish the new monthly minimum rent. It is recognized that such adjustments shall be calculated by CITY upon completion of payments due for the preceding rental period in order to determine the amount of the adjustment to be effective on the dates stated herein. Until such calculations are completed, LESSEE shall continue paying monthly minimum rents at the prior rate. Any additional rents determined by the adjustment to be due for the months previously paid at the prior rate shall be paid to CITY within thirty (30)days following written notice. IN NO EVENT SHALL ANY SUCH MINIMUM RENT ADJUSTMENT RESULT IN A DECREASE IN THE MINIMUM RENT REQUIREMENT IN EFFECT IMMEDIATELY PRIOR TO THE ADJUSTMENT DATE.
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Related to Minimum Rent Adjustment

  • Base Rent Adjustment The Base Rent payable hereunder shall be adjusted upward from time to time in accordance with the following provisions: (a) Tenant shall pay to Landlord as an adjustment to Rent, an amount equal to the excess (the “Excess”) from time to time of total annual Operating Expenses per square foot of Rentable Area of the Premises, as Grossed-Up, over and above the Expense Stop. The Excess shall be obtained by multiplying (i) the difference between the annual Operating Expense per square foot of Rentable Area in the Premises and the Expense Stop, by (ii) the total Rentable Area of the Premises as set forth in Section 1.15. Such amount shall be paid in advance in monthly installments on the same dates as Base Rent is due and payable hereunder based on Landlord’s notice delivered to Tenant from time to time setting forth Landlord’s good faith estimate of the Operating Expenses for the current calendar year. Landlord shall have the right to adjust such amount no more than once a year to reflect any changes in Landlord’s estimate of Operating Expenses. (b) By April 1 of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall furnish to Tenant a statement (“Actual Statement”) of Landlord’s annual Operating Expenses, as Grossed-Up, for the previous calendar year. If for any calendar year the amounts collected from Tenant for the prior year, as a result of Landlord’s estimate of Operating Expenses, exceeds the amount of the Excess actually due during such prior year, then Landlord shall refund to Tenant any overpayment (or at Landlord’s option, apply such amount against Rent due or to become due hereunder). Likewise, Tenant shall pay to Landlord, on demand, any underpayment with respect to the prior year. (c) In the event of any good faith dispute as to the amount of the Excess as set forth in the statement of actual Operating Expenses, Tenant shall have the right, no more frequently than once per calendar year, after reasonable notice to Landlord and at reasonable times, to inspect and photocopy Landlord’s Operating Expenses records at Landlord’s offices. If, after such inspection and photocopy, Tenant continues, in good faith, to dispute the amount of the Excess as set forth in said statement, Tenant shall be entitled not later than one (1) year following Tenant’s receipt of an Actual Statement to retain a national, independent, certified public accountant who is not contracted on a contingency fee basis and is mutually acceptable to Landlord and Tenant to audit Landlord’s Operating Expenses records with respect to the calendar year covered by Actual Statement to determine the proper amount of the Excess. Landlord shall be entitled to review the results of such audit promptly after completion of same. If such audit proves that Landlord has overcharged Tenant, then within fifteen (15) days after the results of the audit are made available to Landlord, Landlord shall credit Tenant the amount of such overcharge toward the payments of Base Rent and Additional Rent next coming due under this Lease. If the results of such audit prove that Landlord has undercharged Tenant, then within fifteen (15) days after the results of the audit are made available to Tenant, Tenant shall pay to Landlord the amount of any such undercharge. Tenant agrees to pay the cost of such audit, provided that Landlord shall reimburse Tenant the amount of such cost if the results of such audit prove that Landlord’s determination of the Excess (as set forth in the Actual Statement) was in error by more than six percent (6%). If Tenant does not request an audit in accordance with the provisions of this Section 6(c) within one (1) year after Tenant’s receipt of an Actual Statement, such Actual Statement shall be conclusively binding upon Tenant. Landlord shall be required to maintain records of all Operating Expenses for three (3) years following the issuance of the Operating Expense statement for such Operating Expenses. The payment by Tenant of any amounts pursuant to this Article shall not preclude Tenant from questioning the correctness of any such statement.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Rent Adjustment In the event that the Tenant does not elect to terminate this Ground Lease pursuant to Section 20.2, then this Ground Lease and the term hereof shall continue in full force and effect, and the monthly Rent shall be adjusted pro-rata in accordance with the land area of the property actually taken by the condemning authority.

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following: