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| re: I have the same question. | |
| Posted by: ryhog 09:53 pm EST 01/03/22 | |
| In reply to: re: I have the same question. - StageLover 06:47 pm EST 01/03/22 | |
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| my recollection is that RTC rents the theatre from Durst and that when RTC has a commercial subtenant, Durst gets a share of the percentage rent, not that it is a management arrangement. Unless the deal has been rewritten (or my memory is faulty). The terms of the rent (which is only the fixed rent obviously since the percentage rent would be $0) during a hiatus are a matter of negotiation. It is well to remember that (a) there are no rules and (b) there are especially no rules in the middle of a pandemic. From what I see, RTC has little if any motivation to not ride out a hiatus on agreeable terms. But I don't know. | |
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| re: I have the same question. | |
| Posted by: sirpupnyc 11:47 pm EST 01/03/22 | |
| In reply to: re: I have the same question. - ryhog 09:53 pm EST 01/03/22 | |
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| I've always seen it phrased as Roundabout "programs" the Sondheim. Ah, there's some more concrete information. Roundabout has a 20-year operating lease. They pay annual rent, additional for building expenses and "may be obligated to pay additional rent based on net rental income". Page 22 at the link below. |
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| Link | https://res.cloudinary.com/roundabout-theatre-company/image/upload/v1641241111/Development/Uploads/Roundabout_Theatre_Company_FINAL_Audit_8-31-21.pdf |
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| re: I have the same question. | |
| Posted by: ryhog 12:40 am EST 01/04/22 | |
| In reply to: re: I have the same question. - sirpupnyc 11:47 pm EST 01/03/22 | |
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| i am grateful that not everyone is as lazy as i am lately. :-) | |
| reply to this message | reply to first message |
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