Common use of Additional Sublease Rent Clause in Contracts

Additional Sublease Rent. To the extent Sublandlord is obligated to pay additional rent under the Lease for operating expenses, taxes, utilities, CAM Costs (as defined in the Lease) or other charges related to Landlord’s operation of the Building (the “Operating Expenses”), Subtenant will pay to Sublandlord Subtenant’s proportionate share of the Operating Expenses due under the Lease (the “Additional Sublease Rent”). For the purposes of this Agreement, the Subtenant’s proportionate share of the Operating Expenses will be determined by multiplying the Operating Expenses by a fraction, the numerator of which is the number of rentable square feet of the Sublease Premises and the denominator of which is the total number of rentable square feet of the Premises. For clarity, as of the Effective Date, the Subtenant’s proportionate share is Fifty-one and 2/10ths percent (51.2%). Any other costs, expenses, or charges payable by Subtenant to Sublandlord under this Agreement shall also be a part of Additional Sublease Rent for all purposes under this Agreement. During the Sublease Term, but not more than once in a calendar year, Subtenant may, at its sole cost and expense, examine the books and records of Sublandlord relating to Operating Expenses for the Sublease Premises and the Premises, which examination will be conducted subject to the terms and conditions of the Lease. Subtenant will also promptly pay all costs and expenses incurred by Sublandlord in connection with any such examination as Additional Sublease Rent. In the event as a result of such examination, it is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has paid an excess of its share of the Operating Expenses, Sublandlord shall promptly refund the amount of such overpayment to Subtenant. Conversely, in the event as a result of such examination, it is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has underpaid a loss of its share of the Operating Expenses, Subtenant shall promptly pay the amount of such underpayment to Sublandlord.

Appears in 1 contract

Samples: Sublease Agreement (AntriaBio, Inc.)

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Additional Sublease Rent. To In accordance with the extent Sublandlord provisions of the Prime Lease, Landlord, as tenant under the Prime Lease, is obligated to pay additional rent under the Lease for operating expenses, taxes, utilities, CAM Costs as Additional Rent (as defined in the Prime Lease) or other charges related its Tenant’s Share with respect to the Existing Building 2 Premises (as defined herein) (75.37%) of annual Direct Expenses (as defined in the Prime Lease). The Existing Building 2 Premises means the premises comprised of 67,206 rentable square feet in Building 2 leased by Landlord as tenant under the Prime Lease. Tenant shall pay to Landlord promptly upon Landlord’s operation request therefor and provided Landlord’s request is given to Tenant at least fifteen (15) days prior to the date such payments are due under the Prime Lease, in all events at least ten (10) days prior to the date such payments are due under the Prime Lease, as Additional Sublease Rent under this Sublease, Tenant’s proportionate share (as herein defined) of the Building (the “Operating Expenses”), Subtenant will all estimated Additional Rent and Additional Rent which Landlord is obligated to pay to Sublandlord SubtenantPrime Landlord pursuant to the Prime Lease with respect to the Existing Building 2 Premises during the term of this Sublease including, without limitation, Tenant’s proportionate share of any amount or expense which Landlord shall pay or incur with respect to Direct Expenses during the Operating Expenses due under the Lease (the “Additional Sublease Rent”). For the purposes term of this Agreement, the Subtenant’s proportionate share of the Operating Expenses will be determined by multiplying the Operating Expenses by a fraction, the numerator of which is the number of rentable square feet of the Sublease Premises and the denominator of which is the total number of rentable square feet of the PremisesSublease. For clarity, as of the Effective Date, the SubtenantTenant’s proportionate share is Fifty-one agreed to be 10.49% of the amount Landlord, as tenant under the Prime Lease, is obligated to pay as Additional Rent with respect to the Existing Building 2 Premises; provided, however, that the Base Year for purposes of calculating Tenant’s liability for Direct Expenses hereunder shall be 2015. Tenant shall pay the cost of all electricity and 2/10ths percent (51.2%). Any other costs, expenses, or charges payable utilities consumed by Subtenant to Sublandlord under this Agreement shall also be a part of Additional Sublease Rent for all purposes under this Agreement. During the Sublease Term, but not more than once Tenant in a calendar year, Subtenant may, at its sole cost and expense, examine the books and records of Sublandlord relating to Operating Expenses for the Sublease Premises and the Premises. With respect to those portions of the Premises which are separately metered for electricity or such utilities, which examination will be conducted subject Tenant shall contract with and pay charges for Tenant’s use of electricity and such utilities directly to the terms and conditions providers of the Leaseelectricity and such utilities. Subtenant will also If any portion of the Premises is not separately metered for electricity or such utilities, with respect to those portions of the Premises which are not separately metered for electricity or such utilities (the “Non-Separately Metered Premises”), to the extent the cost of electricity or such utilities attributable to Tenant’s use is not a Direct Expense, Tenant shall pay promptly pay all costs and expenses incurred by Sublandlord in connection with any such examination upon Landlord’s request therefor, as Additional Sublease Rent. In , a payment for electricity and such utilities consumed by Tenant in the event Non-Separately Metered Premises as a result of such examination, it is reasonably determined by Subtenant, and agreed to by Sublandlord, that Subtenant has paid an excess of its share of the Operating Expenses, Sublandlord shall promptly refund the amount of such overpayment to Subtenant. Conversely, in the event as a result of such examination, it is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has underpaid a loss of its share of the Operating Expenses, Subtenant shall promptly pay the amount of such underpayment to SublandlordLandlord.

Appears in 1 contract

Samples: Sublease (Viking Therapeutics, Inc.)

Additional Sublease Rent. To In accordance with the extent Sublandlord provisions of the Prime Lease, Landlord, as tenant under the Prime Lease, is obligated to pay additional rent as Additional Rent (as defined in the Prime Lease) its Tenant’s Share (which Tenant’s Share under the Prime Lease for operating expenses, taxes, utilities, CAM is 64.70%) with respect to the Prime Lease Premises (as defined herein) of annual Operating Costs (as defined in the Prime Lease) or other charges related to Landlord’s operation ). The Prime Lease Premises means the premises comprised of 104,470 rentable square feet leased by Landlord as tenant under the Building (the “Operating Expenses”), Subtenant will Prime Lease. Tenant shall promptly pay to Sublandlord SubtenantLandlord as Additional Sublease Rent under this Sublease, Tenant’s proportionate share (as herein defined) of all estimated Additional Rent and Additional Rent which Landlord is obligated to pay to Prime Landlord pursuant to the Prime Lease with respect to the Prime Lease Premises during the term of this Sublease (as adjusted to reflect a 2014 Base Year) including, without limitation, Tenant’s proportionate share of any amount or expense which Landlord shall pay or incur with respect to Operating Costs during the Operating Expenses due term of this Sublease. Tenant’s proportionate share is agreed to be 10.44% (based on 10,908/104,470) of the amount Landlord, as tenant under the Prime Lease, is obligated to pay as Additional Rent with respect to the Prime Lease Premises; provided, however, that the Base Year for purposes of calculating Tenant’s liability for Operating Costs hereunder shall be calendar year 2014 (as opposed to the “Additional Sublease Rent”2011 base year applicable under the Prime Lease). For Each year of the purposes term of this AgreementLease, Landlord shall promptly provide to Tenant full and complete copies of the Subtenant’s Estimate and Actual Statement annually given by Prime Landlord to Landlord pursuant to Sections 5.1A and 5.2B, respectively, of the Prime Lease. If Landlord is entitled to any credit pursuant to Section 5.1B of the Prime Lease, Tenant shall be entitled to its proportionate share of such credit (as adjusted to reflect a Base Year of 2014). If Landlord must make a lump sum payment to Prime Landlord pursuant to Section 5.1B of the Prime Lease, Tenant shall pay to Landlord its proportionate share of the Operating Expenses amount (as adjusted to reflect a Base Year of 2014). If Tenant reasonably requests that Landlord review Prime Landlord’s records or dispute the amounts set forth in any Statement, Landlord shall cooperate in good faith with Tenant as to any dispute and keep Tenant reasonably informed of attempts to resolve any such dispute and any ultimate resolution thereof. The cost of electricity is included in the Base Rent, subject to a charge back to Tenant for excess electrical costs (which threshold for such excess is referred to herein and in the Prime Lease as “Maximum Permitted Electrical Consumption”) in accordance with the Prime Lease. The Prime Lease limits the tenant’s consumption of electricity in the Prime Lease Premises. Tenant acknowledges that Landlord, as the tenant under the Prime Lease, may be liable for excess electricity costs if Landlord’s consumption exceeds the Maximum Permitted Electrical Consumption (as defined in Paragraph 7B of the Prime Lease). If Tenant’s full-time employee count at the Premises does not exceed 70, Landlord shall not pass through to Tenant any excess electricity charges even if Prime Landlord is passing through to Landlord such charges. If Tenant’s full-time employee count exceeds 70, Tenant shall be liable for any portion of the excess electricity charges imposed by Prime Landlord under the Prime Lease provided such electrical charges are documented (and such documentation will be determined by multiplying the Operating Expenses by delivered to Tenant concurrently with a fractionpayment request or, the numerator of which is the number of rentable square feet of the Sublease Premises and the denominator of which is the total number of rentable square feet of the Premises. For clarityif omitted, as of the Effective Date, the Subtenant’s proportionate share is Fifty-one and 2/10ths percent (51.2%promptly upon demand therefor). Any other costsTenant shall have the right to audit such expense pass-through and documentation. Tenant’s liability for After-Hours HVAC, expenses, excess electrical costs or charges payable similar services supplied by Subtenant to Sublandlord under this Agreement shall also be a part of Additional Sublease Rent for all purposes under this Agreement. During the Sublease Term, but not more than once in a calendar year, Subtenant may, at its sole cost and expense, examine the books and records of Sublandlord relating to Operating Expenses for the Sublease Premises and the Premises, which examination Prime Landlord will be conducted subject equal to the terms actual cost charged for such services by Prime Landlord and conditions Landlord will provide Tenant with copies of the Lease. Subtenant will also promptly pay all costs and expenses incurred by Sublandlord in connection invoices concurrently with any such examination as Additional Sublease Rent. In the event as a result request for payment of such examination, it is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has paid an excess of its share of the Operating Expenses, Sublandlord shall promptly refund the amount of such overpayment to Subtenant. Conversely, in the event as a result of such examination, it is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has underpaid a loss of its share of the Operating Expenses, Subtenant shall promptly pay the amount of such underpayment to Sublandlorditems.

Appears in 1 contract

Samples: Lease (Celladon Corp)

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Additional Sublease Rent. To the extent Sublandlord is obligated to pay additional rent under the Lease for operating expenses, taxes, utilities, CAM Costs (as defined in the Lease) or other charges related to Landlord’s operation of the Building (the “Operating Expenses”), Subtenant will pay to Sublandlord Subtenant’s proportionate share of the Operating Expenses due under the Lease (the “Additional Sublease Rent”). For the purposes of this Agreement, the Subtenant’s proportionate share of the Operating Expenses will be determined by multiplying the Operating Expenses by a fraction, the numerator of which is the number of rentable square feet of the Sublease Premises and the denominator of which is the total number of rentable square feet of the Premises. For clarity, as of the Effective Date, the Subtenant’s proportionate share is FiftyThirty-one eight and 2/10ths 0/10ths percent (51.238.0%). Any other costs, expenses, or charges payable by Subtenant to Sublandlord under this Agreement shall also be a part of Additional Sublease Rent for all purposes under this Agreement. During the Sublease Term, but not more than once in a calendar year, Subtenant may, at its sole cost and expense, examine the books and records of Sublandlord relating to Operating Expenses for the Sublease Premises and the Premises, which examination will be conducted subject to the terms and conditions of the Lease. Subtenant will also promptly pay all costs and expenses incurred by Sublandlord in connection with any such examination as Additional Sublease Rent. In the event as a result of such examination, it is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has paid an excess of its share of the Operating Expenses, Sublandlord shall promptly refund the amount of such overpayment to Subtenant. Conversely, in the event as a result of such examination, it is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has underpaid a loss of its share of the Operating Expenses, Subtenant shall promptly pay the amount of such underpayment to Sublandlord.

Appears in 1 contract

Samples: Sublease Agreement (AntriaBio, Inc.)

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