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What Rent Payment To Expect

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  • 03-26-2007, 01:16 AM
    toad
    What Rent Payment To Expect
    Please help Translate law into English

    If the Lessee collects $10,000 abut how much money should the Lessor expect to receive?

    (Contract)
    5. Rent. Lessee agrees to pay Lessor as Rent, for the use and possession of the Leased Premises, an amount equal to the greater of $5.00 per month, or a percentage of Lessee’s gross income from the Leased Premises based on the average per machine daily gross income as follows: ZERO PERCENT (0%) of a base amount equal to the first $1.1333 per machine, per day, plus NINETY PERCENT (90%) of all monies in excess, less any applicable gross receipts, sales, use, value added, or similar excise taxes. (Commencing on the date this Lease is entered into, the base amount to be adjusted annually to changes in the Consumer Price Index of the Department of Labor-U.S. City Average.) The total number of machines for purposes of calculating the Rent will be TWENTY (20) unless Lessor and Lessee otherwise agree in writing.
  • 03-28-2007, 08:57 AM
    Mr. Knowitall
    Re: Please help Translate law into English
    That's an accounting question, not a law question. Consider asking a CPA.
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