Automatically renewed for successive one-year periods
unless terminated by either party on at least 30 days’ written notice prior to the end of the then-current term.
If the Company sells the property subject to the
RP Agreement within three (3) years after the date of the RP Agreement for an amount in excess of $1,750,000, subject to certain
enumerated exceptions.
The penalty imposed shall be equivalent to the amount
that the sales price of the property exceeds $1,750,000 up to the maximum penalty (“Maximum Penalty”).
If the Company sells the property
subject to the RP Agreement within three (3) years after the date of the RP Agreement for an amount in excess of $1,750,000, subject
to certain enumerated exceptions.
The penalty imposed shall be
equivalent to the amount that the sales price of the property exceeds $1,750,000 up to the maximum penalty (“Maximum Penalty”).
Period of time between issuance and maturity of agreement, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt.
Term of the lessor's leasing arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
Expenditures for salaries of officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold.
Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.