HOLDING PARCEL RENT

HOLDING PARCEL RENT. (a) $1.00 multiplied by the number of total square feet of land area included within that portion of the Holding Parcel exclusive of the Inaccessible Parcel which have been improved and upon which parking facilities have been constructed, as more fully provided in Section 4.1.l, PLUS (b) $250.00 annually for each parking space striped on that portion of the Holding Parcel exclusive of the Inaccessible Parcel, PLUS (c) $.50 multiplied by the number of total square... feet of the remainder of the land area included within that portion of the Holding Parcel exclusive of the Inaccessible Parcel; subject to increase on the tenth anniversary of the Date of Lease Execution (June 1, 1992)and every five years thereafter by the amount equal to the CPI Escalation multiplied by the sum of the amounts set forth in clauses (a), (b) and (c). From and after the Development Plan Rent Commencement Date, no Holding Parcel Rent shall be payable. View More