Common use of ADDITIONAL CHARGES - GENERAL COVENANT Clause in Contracts

ADDITIONAL CHARGES - GENERAL COVENANT. Tenant covenants and ------------------------------------- agrees to pay to Landlord, as additional charges, (i) an amount equal to the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's Operating Expenses per square foot of Rentable Floor Area over Base Operating Expenses per Square Foot of Rentable Floor Area (as so calculated, the "Operating Expenses") and (ii) an amount equal to the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's Taxes per square foot of Rentable Floor Area over Base Taxes Per Square Foot of Rentable Floor Area (the "Taxes"), provided that if less than the Total Rentable Floor Area of the Building is occupied at any time during such period, Landlord shall extrapolate components of Landlord's Operating Expenses and Landlord's Taxes as though 95% of the Total Rentable Floor Area of the Building had been occupied at all times during such period. Appropriate adjustments (including adjustments in Base Operating Expenses Per Square Foot of Rentable Floor Area and Base Taxes Per Square Foot of Rentable Floor Area, which are quoted on an annual basis in Section 1.1) shall be made for any portion of a year at the beginning or end of the Term or for any year during which changes occur in the percentage of occupancy of the Building.

Appears in 2 contracts

Samples: Storagenetworks Inc, Storagenetworks Inc

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ADDITIONAL CHARGES - GENERAL COVENANT. Tenant covenants and ------------------------------------- agrees to pay to Landlord, as additional charges, (i) an amount equal to the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's ’s Operating Expenses per square foot of Rentable Floor Area allocable to Tenant over Base Operating Expenses per Per Square Foot of Rentable Floor Area (Area. Except as so calculatedprovided in the next sentence, the "Landlord’s Operating Expenses") and (ii) an amount equal to the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's Taxes Expenses per square foot of Rentable Floor Area over Base Taxes Per Square Foot allocable to Tenant for any period shall be the total amount of Rentable Floor Area Landlord’s Operating Expenses for such period (actual or extrapolated, as described herein) divided by 95% (or, if greater, the "Taxes"), provided that if less than percentage occupied) of the Total Rentable Floor Area of the Building is provided that if less than 95% of the Total Rentable Floor Area of the Building are occupied at any time during such period, Landlord shall may extrapolate components of Landlord's ’s Operating Expenses and Landlord's Taxes as though 95% of the Total Rentable Floor Area of the Building had been occupied at all times during such period. Appropriate adjustments If Landlord is not obligated to furnish cleaning and janitorial services, or any other item, the costs of which are included in Landlord’s Operating Expenses, to all rentable areas of the Building or if Landlord furnishes amounts of any such item to the Premises in return for direct reimbursement of the cost thereof (including adjustments in Base any such item not furnished to all such rentable areas or furnished to any rentable areas on a direct reimbursement basis is referred to as a “restricted item”), Landlord’s Operating Expenses Per Square Foot of Rentable Floor Area and Base Taxes Per Square Foot of Rentable Floor Area, which are quoted on an annual basis in Section 1.1) per square foot allocable to Tenant for any period shall be made for any portion of a year at the beginning or end sum of the Term or for any year during which changes occur in the percentage of occupancy of the Building.following amounts (x) and (y):

Appears in 1 contract

Samples: Lease (Thomas Weisel Partners Group, Inc.)

ADDITIONAL CHARGES - GENERAL COVENANT. Tenant covenants and ------------------------------------- agrees to pay to Landlord, as additional charges, (i) an amount equal to the sum of (1) the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's ’s Operating Expenses per square foot of Rentable Floor Area allocable to Tenant over the Base Operating Expenses per Square Foot square foot of Rentable Floor Area Area, plus (as so calculated, the "Operating Expenses"2) and (ii) an amount equal to the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's ’s Taxes per square foot of Rentable Floor Area allocable to Tenant over the Base Taxes Per Square Foot per square foot of Rentable Floor Area. As used herein, “Base Operating Expenses” and “Base Taxes” mean, respectively, the amounts of Landlord’s Operating Expenses and Landlord’s Taxes per square foot of Rentable Floor Area actually charged to office tenants in the Building for the respective Base Year set forth in Section 1.1 under leases with definitions of Landlord’s Operating Expenses and Landlord’s Taxes equivalent to those in Section 2.6 of this Lease (excluding separately reimbursable restricted items, such as after-hours HVAC charges). Except as provided in the "Taxes")next sentence, Landlord’s Operating Expenses and Landlord’s Taxes per square foot of Rentable Floor Area allocable to Tenant for any period shall be the total amount thereof for such period (actual or extrapolated, as described herein) divided by 95% (or if greater, the percentage occupied) of the Total Rentable Floor Area of the Building provided that that, if less than 95% of the Total Rentable Floor Area of the Building is occupied at any time during such period, Landlord shall may extrapolate components of Landlord's Operating Expenses and Landlord's Taxes thereof which vary with occupancy as though 95% of the Total Rentable Floor Area of the Building had been occupied at all times during such period. Appropriate adjustments (including adjustments In no event shall Landlord collect, in Base total from Tenant, amounts on account of Landlord’s Operating Expenses Per Square Foot which would exceed 100% of Rentable Floor Area Tenant’s allocable share of Landlord’s Operating Expenses for such period. If Landlord is not obligated to furnish cleaning and Base Taxes Per Square Foot janitorial services, or any other item, the costs of Rentable Floor Area, which are quoted included in Landlord’s Operating Expenses, to all rentable areas of the Building or if Landlord furnishes amounts of any such item to the Premises in return for direct reimbursement of the cost thereof (any such item not furnished to all such rentable areas or furnished to any rentable areas on an annual a direct reimbursement basis in Section 1.1) is referred to as a “restricted item”), Landlord’s Operating Expenses per square foot allocable to Tenant for any period shall be made for any portion of a year at the beginning or end sum of the Term or for any year during which changes occur in the percentage of occupancy of the Building.following amounts (x) and (y):

Appears in 1 contract

Samples: Office Lease (Fusion Pharmaceuticals Inc.)

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ADDITIONAL CHARGES - GENERAL COVENANT. Tenant covenants and ------------------------------------- agrees to pay to Landlord, as additional charges, (i) an amount equal to the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's Operating Expenses per square foot of Rentable Floor Area over Base Operating Expenses per Square Foot of Rentable Floor Area (as so calculated, the "Operating Expenses") and (ii) an amount equal to the product of (a) the Rentable Floor Area of the Premises and (b) the excess (if any) of Landlord's Taxes per square foot of Rentable Floor Area over Base Taxes Per Square Foot of Rentable Floor Area (the "Taxes")Area, provided that if less than the Total Rentable Floor Area of the Building is occupied at any time during such period, Landlord shall may extrapolate components of Landlord's Operating Expenses and Landlord's Taxes as though 95% of the Total Rentable Floor Area of the Building had been occupied at all times during such period. Appropriate adjustments (including adjustments in Base Operating Expenses Per Square Foot of Rentable Floor Area and Base Taxes Per Square Foot of Rentable Floor Area, which are quoted on an annual basis in Section 1.1) shall be made for any portion of a year at the beginning or end of the Term or for any year during which changes occur in the percentage of occupancy of the Building.

Appears in 1 contract

Samples: Altarex Corp

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