Break Point definition
Examples of Break Point in a sentence
In that event, the First Annual Room Revenues Break Point and the Second Annual Room Revenues Break Point shall be multiplied by a fraction equal to (x) the number of calendar quarters (including partial calendar quarters) in the Lease Year divided by (y) four.
Upon the commencement of each Fiscal Year during the Term beginning with the second Fiscal Year, each of the Minimum Rent, the Annual Room Revenues First Break Point, the Annual Food and Beverages Sales First Break Point, the Annual Other Income Break Point, the Annual Food and Beverages Sales Second Break Point and the Annual Room Revenues Second Break Point shall be increased by the amount of the applicable Annual Adjustment.
If the Authority decides not to progress from a particular Break Point, then the Contract will be terminated at that point.
Adjustments calculated as set forth above in the Base Rent, the Annual Room Revenues Break Points and the Annual Food Sales Break Point shall be effective on the first day of each calendar Lease Year to which such adjusted amounts apply.
In no event shall the Base Rent, the Annual Room Revenues Break Points or the Annual Food Sales Break Point be reduced as a result of any changes in the Consumer Price Index.
Percentage Factor: 6% Sales Break Point for the Original Term: From the Commencement Date through the fifth (5th) year of the Original Term: $3,269,200.00; Beginning with the sixth (6th) year and continuing through the expiration of the Original Term: $3,566,400.00.
In no event shall the Minimum Rent, the Annual Room Revenues First Break Point, Annual Food and Beverages Sales First Break Point, the Annual Room Revenues Second Break Point, the Annual Food and Beverages Sales Second Break Point, and the Annual Other Income Break Point be reduced as a result of the Annual Adjustment.
If Tenant’s Gross Receipts for the calendar year exceed the Percentage Rent Break Point, Tenant shall pay the Percentage Rent Rate of Tenant’s Gross Receipts less Minimum Rent actually paid.
Fees will be calculated by multiplying each Avenge Asset Break Point in the above schedule by the number of Funds in each series to determine the break points used in the schedule.
During the term of this Agreement, for so long as ▇▇▇▇▇ ▇▇▇▇▇ Management remains the portfolio manager of the Portfolio, the Adviser hereby agrees to waive 0.09% off each Break Point of its investment advisory fee for the Portfolio.