Additional Lease definition
Examples of Additional Lease in a sentence
The Lessee hereby covenants to take such action as may be necessary to include all Lease Payments and Additional Lease Payments due hereunder in its annual budget and to make the necessary annual appropriations for all such Lease Payments and Additional Lease Payments, subject to Section 4.8 hereof.
The obligation of the Lessee to make Lease Payments or Additional Lease Payments does not constitute an obligation of the Lessee for which the Lessee is obligated to levy or pledge any form of taxation or for which the Lessee has levied or pledged any form of taxation.
The Lessee shall pay all such amounts when due or at such later time as such amounts may be paid without penalty or, in any other case, within thirty (30) calendar days after notice in writing from the Lessor to the City stating the amount of Additional Lease Payments then due and payable and the purpose thereof.
Subject to the terms hereof, the Lessee hereby agrees to pay to the Lessor the Lease Payments and to the appropriate parties the Additional Lease Payments in the amounts, at the times and in the manner hereinafter set forth, such amounts constituting in the aggregate the rent payable under this Lease.
Additionally, the Lessee agrees that upon the occurrence of such an event, the Lessee shall pay Additional Lease Payments to the Lessor on each succeeding Lease Payment Date in such amount(s) as will maintain the Lessor’s after-tax yield(s) and after tax cash flows for the transaction(s) evidenced by the schedules attached to this Agreement as determined by the Lessor based on an applicable tax-equivalent conversion rate.