Base Rental Payments. The County agrees to pay to the Authority, as Base Rental Payments for the use and occupancy of the Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this Sublease) annual rental payments with principal and interest components, the interest components being payable semi-annually, in accordance with the Base Rental Payment Schedule attached hereto as Exhibit B and made a part hereof. Base Rental Payments shall be calculated on an annual basis, for each Rental Payment Period, and each annual Base Rental shall be divided into two interest components, due on December 1 and June 1, and one principal component, due on June 1, except that the first Rental Payment Period commences on the date of recordation of this Sublease and ends on [ ]. Each Base Rental Payment installment shall be payable on the fifteenth (15th) day of the month immediately preceding its due date. The interest components of the Base Rental Payments shall be paid by the County as and constitute interest paid on the principal components of the Base Rental Payments to be paid by the County hereunder, computed on the basis of a 360-day year composed of twelve 30-day months. Each annual payment of Base Rental (to be payable in installments as aforesaid) shall be for the use of the Facilities. If the term of this Sublease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payment installments shall continue to be due on December 1 and June 1 in each year, and payable prior thereto as hereinabove described, continuing to and including the date of termination of this Sublease. Upon such extension of this Sublease, the County shall deliver to the Trustee a Certificate setting forth the extended rental payment schedule, which schedule shall establish the principal and interest components of the Base Rental Payments so that the principal components will in the aggregate be sufficient to pay all unpaid principal components with interest components sufficient to pay all unpaid interest components plus interest and to pay any Reserve Facility Costs. If at any time the Base Rental shall not have been paid by the County when due, for any reason whatsoever, and no other source of funds shall have been available to make the payments of principal and interest on the Bonds, the principal and interest components of the Base Rental shall be recalculated by the County to reflect interest on the unpaid principal components at the rate or rates specified in the Trust Agreemen...
Base Rental Payments. The term “
Base Rental Payments. (a) The City, subject to the provisions of Section 3.07 hereof, shall pay Base Rental Payments to the Authority. The Base Rental Payments shall be payable on the Interest Payment Dates and the Base Rental Payment payable on each Interest Payment Date shall be equal to the principal, if any, of and interest on the Bonds due and payable on such Interest Payment Date, including principal due and payable by reason of mandatory sinking fund redemption of the Bonds.
Base Rental Payments. The City shall pay, from any and all legally available funds, to the Trustee, as assignee of the Authority, the Base Rental Payments with respect to the Leased Property at the times and in the amounts set forth in the Base Rental Payment Schedule attached hereto as Exhibit B and incorporated herein. The obligation of the City to pay Base Rental Payments (and Additional Rental) shall commence on the Closing Date. Notwithstanding the foregoing, the City shall deposit with the Trustee not later than (i) the Lease Payment Date preceding each Interest Payment Date and (ii) if principal is payable on other than an Interest Payment Date, the third Business Day preceeding each date on which principal is due, the Base Rental Payment due on such date, as the case may be, and the same shall be held by the Trustee as security for the Base Rental Payments due on such dates. If the term of this Lease shall have been extended pursuant to Section 4.01(a) hereof, Base Rental Payment installments shall continue to be due on the third Business Day preceding any date payment of principal of or interest on any Bonds is due, continuing to and including the date of termination of this Lease.
Base Rental Payments. If the Corporation receives any Base Rental Payments, then the Corporation shall receive such payments in trust for the Assignee and shall immediately deliver the same to the Assignee in the form received, duly endorsed by the Corporation for deposit by the Assignee.
Base Rental Payments. Subject to the provisions in Section 6.04 below, the City shall pay, from any and all legally available funds, to the Trustee, as assignee of the Authority, the Base Rental Payments with respect to the Leased Premises at the times and in the amounts set forth in the Base Rental Payment Schedule attached hereto as Exhibit B and incorporated herein. Notwithstanding the foregoing, the City shall deposit with the Trustee not later than (i) the Lease Payment Date preceding each Interest Payment Date and (ii) if principal is payable on other than an Interest Payment Date, the third Business Day preceding each date on which principal is due, the Base Rental Payment due on such date, as the case may be, and the same shall be held by the Trustee as security for the Base Rental Payments due on such dates. If the term of this Lease shall have been extended pursuant to Section 4.01(a) hereof, Base Rental Payment installments shall continue to be due on the third Business Day preceding any date payment of principal of or interest on any Bonds is due, continuing to and including the date of termination of this Lease.
Base Rental Payments. The County agrees to pay to the Authority, in accordance with the Base Rental Payment Schedule, semiannual rental payments as Base Rental Payments for the use and occupancy of the Leased Facilities (subject to the provisions of Sections 3.04, 3.06 and 7.01 of this Lease). Each Base Rental Payment shall be payable in funds that are immediately available to the Authority not later than the third to the last Business Day of each February and August corresponding to the applicable April 1 or October 1 payment date, as set forth in the Base Rental Payment Schedule. Each semiannual Base Rental Payment shall be paid by the County for the use and occupancy of the Leased Facilities for the previous semiannual period. If the term of this Lease shall have been extended pursuant to Section 2.02 hereof, Base Rental Payments shall continue to be due on the third to the last Business Day of each February and August, payable as described herein, continuing to and including the Termination Date, in an amount equal to the amount of the Base Rental Payment payable for the twelve-month period commencing April 1, .
Base Rental Payments. Base Rental Payments shall be payable annually until the end of the Lease Term. Such Base Rental shall be comprised of principal components and interest components paid in accordance with the following schedule: INTEREST AND PRINCIPAL COMPONENT PAYMENT SCHEDULE PURCHASE DATE PAYMENT INTEREST PRINCIPAL OPTION PRICE Refer to Schedule A E. Fair Rental Value. Lessee hereby certifies that the foregoing Base Rental Payments plus Additional Rental Payments payable pursuant to Section 6.02 of the Master Lease/Purchase Agreement represents, on an annual basis, the fair rental value of the Property and Equipment specified herein. In making this determination, consideration has been given to the cost of the acquisition and installation of the Property and Equipment to be financed by Lessor, other obligations of the parties under the Lease Agreement, the uses and purposes which may be served by the Property and Equipment, and the benefits there from which will accrue to Lessee and the general public.
Base Rental Payments. All rental payments are payable on the first day of each calendar month, monthly in advance, in lawful money of the United States of America, commencing on the first day of the first month as set forth in Section 4.01. of this Lease and continuing through the last day of the last year of the term of this Lease. If the term of the Lease does not commence on the first day of a calendar month or terminate on the last day of a calendar month, as the case may be, Tenant shall pay in advance a pro rata part of such sum as rental for such first or last partial month, as the case may be. All Rent not paid when due shall bear interest at the maximum lawful rate per annum from the date due until paid or, if there is no maximum lawful rate, at a per annum rate equal to the prime rate announced from time to time by The Chase Manhattan Bank, or its successor, plus five percent (5%) (the "Default Rate"). The Base Rental set forth above shall be subject to the Base Rental Adjustment set forth in Article 5 of this Lease.
Base Rental Payments. The Base Rental Payment payable by the Tenant during the initial term of this Lease will be: Monthly Base Dates Rental Payment ----- -------------- September 1, 1978 to April 30, 1979 $34,903.53 May 1, 1979 to April 30, 1980 $32,503.53 May 1, 1980 to May 31, 1980 $33,336.86 June 1, 1980 to April 30, 1981 $33,327.87 May 1, 1981 to August 31, 1990 $34,094.54 If the Tenant exercises its renewal options under paragraph 5 of this Lease, the Tenant's Base Rental Payments during the renewal periods will be: Monthly Base Dates Rental Payment ----- -------------- September 1, 1990 to August 31, 1995 $44,616.67 September 1, 1995 to August 31, 2000 $53,225.00
