Common use of Additional Sublease Rent Clause in Contracts

Additional Sublease Rent. In accordance with the provisions of the Prime Lease, Landlord, as tenant under the Prime Lease, is obligated to pay as Additional Rent (as defined in the Prime Lease) 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 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 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 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 term of this Sublease. Tenant’s proportionate share is 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 other utilities consumed by Tenant in the Premises. With respect to those portions of the Premises which are separately metered for electricity or such utilities, Tenant shall contract with and pay charges for Tenant’s use of electricity and such utilities directly to the providers of the electricity and such utilities. 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 upon Landlord’s request therefor, as Additional Sublease Rent, a payment for electricity and such utilities consumed by Tenant in the Non-Separately Metered Premises as reasonably determined by Landlord.

Appears in 1 contract

Samples: Sublease (Viking Therapeutics, Inc.)

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Additional Sublease Rent. In accordance with the provisions of the Prime Lease, Landlord, as tenant under the Prime Lease, is obligated to pay as Additional Rent (as defined in the Prime Lease) its Tenant’s Share (which Tenant’s Share under the Prime Lease is 64.70%) with respect to the Existing Building 2 Prime Lease Premises (as defined herein) (75.37%) of annual Direct Expenses Operating Costs (as defined in the Prime Lease). The Existing Building 2 Prime Lease Premises means the premises comprised of 67,206 104,470 rentable square feet in Building 2 leased by Landlord as tenant under the Prime Lease. Tenant shall promptly pay to Landlord promptly upon Landlord’s 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 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 Existing Building 2 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 Direct Expenses Operating Costs during the term of this Sublease. Tenant’s proportionate share is agreed to be 10.4910.44% (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 Existing Building 2 Prime Lease Premises; provided, however, that the Base Year for purposes of calculating Tenant’s liability for Direct Expenses Operating Costs hereunder shall be 2015calendar year 2014 (as opposed to the 2011 base year applicable under the Prime Lease). Each year of the term of this Lease, Landlord shall promptly provide to Tenant full and complete copies of the 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 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 all electricity and other utilities consumed by Tenant 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. With respect to those portions 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 which are separately metered for does not exceed 70, Landlord shall not pass through to Tenant any excess electricity or charges even if Prime Landlord is passing through to Landlord such utilitiescharges. If Tenant’s full-time employee count exceeds 70, Tenant shall contract with and pay charges be liable for Tenant’s use of electricity and such utilities directly to the providers of the electricity and such utilities. If any portion of the Premises is not separately metered excess electricity charges imposed by Prime Landlord under the Prime Lease provided such electrical charges are documented (and such documentation will be delivered to Tenant concurrently with a payment request or, if omitted, promptly upon demand therefor). Tenant shall have the right to audit such expense pass-through and documentation. Tenant’s liability for electricity After-Hours HVAC, excess electrical costs or such utilities, with respect to those portions of similar services supplied by the Premises which are not separately metered for electricity or such utilities (the “Non-Separately Metered Premises”), Prime Landlord will be equal to the extent the actual cost charged for such services by Prime Landlord and Landlord will provide Tenant with copies of electricity or all invoices concurrently with request for payment of such utilities attributable to Tenant’s use is not a Direct Expense, Tenant shall pay promptly upon Landlord’s request therefor, as Additional Sublease Rent, a payment for electricity and such utilities consumed by Tenant in the Non-Separately Metered Premises as reasonably determined by Landlorditems.

Appears in 1 contract

Samples: Sublease (Celladon Corp)

Additional Sublease Rent. In accordance with To the provisions of the Prime Lease, Landlord, as tenant under the Prime Lease, extent Sublandlord is obligated to pay as Additional Rent additional rent under the Lease for operating expenses, taxes, utilities, CAM Costs (as defined in the Prime Lease) its Tenantor other charges related to Landlord’s Share with respect to operation of the Existing Building 2 Premises (as defined herein) (75.37%) of annual Direct Expenses (as defined in the Prime Lease“Operating Expenses”). 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 , Subtenant will pay to Landlord promptly upon Landlord’s 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 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 Existing Building 2 Premises during the term of this Sublease including, without limitation, TenantSublandlord Subtenant’s proportionate share of any amount or expense which Landlord shall pay or incur with respect to Direct the Operating Expenses during due under the term Lease (the “Additional Sublease Rent”). For the purposes of this SubleaseAgreement, 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. TenantFor clarity, as of the Effective Date, the Subtenant’s proportionate share is agreed 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 10.49% 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 amount Landlord, as tenant under the Prime Lease, is obligated to . Subtenant will also promptly pay as Additional Rent all costs and expenses incurred by Sublandlord in connection 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 other utilities consumed by Tenant in the Premises. With respect to those portions of the Premises which are separately metered for electricity or any such utilities, Tenant shall contract with and pay charges for Tenant’s use of electricity and such utilities directly to the providers of the electricity and such utilities. 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 upon Landlord’s request therefor, examination as Additional Sublease Rent. In the event as a result of such examination, a payment for electricity 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 utilities consumed by Tenant overpayment to Subtenant. Conversely, in the Non-Separately Metered Premises event as reasonably a result of such examination, it is determined by LandlordSubtenant, 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. In accordance with To the provisions of the Prime Lease, Landlord, as tenant under the Prime Lease, extent Sublandlord is obligated to pay as Additional Rent additional rent under the Lease for operating expenses, taxes, utilities, CAM Costs (as defined in the Prime Lease) its Tenantor other charges related to Landlord’s Share with respect to operation of the Existing Building 2 Premises (as defined herein) (75.37%) of annual Direct Expenses (as defined in the Prime Lease“Operating Expenses”). 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 , Subtenant will pay to Landlord promptly upon Landlord’s 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 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 Existing Building 2 Premises during the term of this Sublease including, without limitation, TenantSublandlord Subtenant’s proportionate share of any amount or expense which Landlord shall pay or incur with respect to Direct the Operating Expenses during due under the term Lease (the “Additional Sublease Rent”). For the purposes of this SubleaseAgreement, 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. TenantFor clarity, as of the Effective Date, the Subtenant’s proportionate share is agreed Thirty-eight and 0/10ths percent (38.0%). Any other costs, expenses, or charges payable by Subtenant to Sublandlord under this Agreement shall also be 10.49% 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 amount Landlord, as tenant under the Prime Lease, is obligated to . Subtenant will also promptly pay as Additional Rent all costs and expenses incurred by Sublandlord in connection 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 other utilities consumed by Tenant in the Premises. With respect to those portions of the Premises which are separately metered for electricity or any such utilities, Tenant shall contract with and pay charges for Tenant’s use of electricity and such utilities directly to the providers of the electricity and such utilities. 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 upon Landlord’s request therefor, examination as Additional Sublease Rent. In the event as a result of such examination, a payment for electricity 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 utilities consumed by Tenant overpayment to Subtenant. Conversely, in the Non-Separately Metered Premises event as reasonably a result of such examination, it is determined by LandlordSubtenant, 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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