Allocation of Occupancy Costs Sample Clauses

Allocation of Occupancy Costs. Following the Effective Date, upon the entry into or renewal by RSMM of any lease for office space that is or will be shared with M&P, M&P will enter into a sublease agreement with RSMM for the proportion of the space that will be utilized by M&P on substantially the same terms as the underlying lease. The proportion of space allocated to M&P will be determined initially at lease inception and then adjusted annually based on the fiscal year end actual number of each level of professional personnel M&P has housed in the premises compared to RSMM taking into account the size of workstation each personnel level is assigned. The proportion of the space utilized by RSMM or M&P will be subject to calculation as set forth in Schedule 4.1.1. The cost allocated to M&P under this sublease will be based on the cost of the lease to RSMM without any xxxx-up or profit to RSMM and will not be subject to the Administration Fee described in Section 3 of this Agreement. The term of the sublease will be the lesser of the term of the RSMM lease or five (5) years. If RSMM commits to an initial lease term in excess of five (5) years and M&P continues to occupy the space after the initial five (5) year sublease term, then M&P will renew the sublease for the lesser of the remaining term of the original RSMM lease or five (5) years.
Sample 1
AutoNDA by SimpleDocs
Allocation of Occupancy Costs. (1) The Landlord may, for reasons of bona fide administrative convenience or for more efficient or economical operation of the Development or for the more equitable distribution of Occupancy Costs establish, from time to time, Development components, of which the Building shall be one, and divide, apportion and allocate Occupancy Costs among such Development components. (2) The Landlord shall, in any such division, apportionment and allocation of Occupancy Costs, divide, apportion and allocate Occupancy Costs on an equitable basis, having regard, without limitation, to the various uses and values of the subject Development components, to prudent practices of property management, to provisions of this Lease and to generally accepted accounting principles or engineering principles.
Sample 1
Allocation of Occupancy Costs. Following the Effective Date, upon the entry into or renewal by Carbon of any lease for office space that is or will be shared with CI, CI will enter into a sublease agreement with Carbon for the proportion of the space that will be utilized by CI on substantially the same terms as the underlying lease. The proportion of space allocated to CI will be determined initially at lease inception and then adjusted annually based on the fiscal year end actual number of each level of personnel CI has housed in the premises compared to Carbon. The proportion of the space utilized by Carbon or CI will be subject to calculation as set forth in Schedule 4.1.1. The cost allocated to CI under this sublease will be based on the cost of the lease to Carbon without any xxxx-up or profit to Carbon and will not be subject to the Administration Fee described in Section 3 of this Agreement. The term of the sublease will be the lesser of the term of the Carbon lease or five (5) years. If Carbon commits to an initial lease term in excess of five (5) years and CI continues to occupy the space after the initial five (5) year sublease term, then CI will renew the sublease for the lesser of the remaining term of the original Carbon lease or five (5) years.
Sample 1

Related to Allocation of Occupancy Costs

  • Occupancy Costs (i) The Assuming Bank agrees to pay to the Receiver, or to appropriate third parties at the direction of the Receiver, during and for the period of any occupancy by it of (x) owned Bank Premises the market rental value, as determined by the appraiser selected in accordance with the definition of Fair Market Value, and all operating costs, and (y) leased Bank Premises, all operating costs with respect thereto and to comply with all relevant terms of applicable leases entered into by the Failed Bank, including without limitation the timely payment of all rent. Operating costs include, without limitation all taxes, fees, charges, utilities, insurance and assessments, to the extent not included in the rental value or rent. If the Assuming Bank elects to purchase any owned Bank Premises in accordance with Section 4.6(a), the amount of any rent paid (and taxes paid to the Receiver which have not been paid to the taxing authority and for which the Assuming Bank assumes liability) by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof. (ii) The Assuming Bank agrees during the period of occupancy by it of owned or leased Bank Premises, to pay to the Receiver rent for the use of all owned or leased Furniture and Equipment and all owned or leased Fixtures located on such Bank Premises for the period of such occupancy. Rent for such property owned by the Failed Bank shall be the market rental value thereof, as determined by the Receiver within sixty (60) days after Bank Closing. Rent for such leased property shall be an amount equal to any and all rent and other amounts which the Receiver incurs or accrues as an obligation or is obligated to pay for such period of occupancy pursuant to all leases and contracts with respect to such property. If the Assuming Bank purchases any owned Furniture and Equipment or owned Fixtures in accordance with Section 4.6(f) or 4.6(h), the amount of any rents paid by the Assuming Bank with respect thereto shall be applied as an offset against the purchase price thereof.

  • NUMBER OF OCCUPANTS Tenant agrees that the House shall be occupied by no more than [Total Number of Occupants] persons, including no more than [Maximum Number of Children] under the age of eighteen (18) years, without the prior written consent of Landlord.

  • PARTIAL OCCUPANCY OR USE 9.9.1 The Owner may occupy or use any completed or partially completed portion of the Work at any stage when such portion is designated by separate agreement with the Contractor, provided such occupancy or use is consented to by the insurer as required under Paragraph 11.3.1.5, the surety, and authorized by public authorities having jurisdiction over the Project. Such partial occupancy or use may commence whether or not the portion is substantially complete, provided the Owner and Contractor have accepted in writing the responsibilities assigned to each of them for payments, retainage, if any, security, maintenance, heat, utilities, damage to the Work and insurance, and have agreed in writing concerning the period for correction of the Work and commencement of warranties required by the Contract Documents. When the Contractor considers a portion substantially complete, the Contractor shall prepare and submit a list to the Architect as provided under Paragraph 9.8.2. Consent of the Contractor to partial occupancy or use shall not be unreasonably withheld. 9.9.2 Immediately prior to partial occupancy or use, the Owner, Contractor and Architect shall jointly inspect the area to be occupied or portion of the Work to be used in order to determine and record the condition of the Work. 9.9.3 Partial occupancy or use of a portion or portions of the Work shall not constitute acceptance of Work not complying with the requirements of the Contract Documents.

  • Maximum Occupancy No more than two (2) guests per one (1) resident (who is present) are permitted in a student room/suite/apartment at any given time unless otherwise approved by the University (Residential Life).

  • Completion of Improvements Within 90 days of completion of any construction herein permitted, Company will cause to be prepared and delivered to Authority record documents as required under the Tenant Work Permit process, including but not limited to as-builts, legal descriptions, boundary surveys, and certified final cost of construction. The submission of record document electronic media will be in accordance with Authority’s Standard Procedure for computer aided design and drafting and drawings, as may be revised from time to time.

  • Certificate of Occupancy The Contractor’s obligation under the Contract is to install the Work in accordance with the Contract Documents, obtain the Certificate of Occupancy from the State Fire Marshal or his deputy, and forward it to the Design Professional as a part of the final close out procedures. The Design Professional’s obligation is to design the Work to comply with the applicable codes and to qualify for a Certificate of Occupancy.

  • Conditions of Occupancy The Resident may not occupy a Room, unless (i) the Resident is currently enrolled and maintaining status as a full- time student in good standing at the Institution; (ii) this Agreement is executed by all parties; (iii) all Residence Fees then due and payable are paid in full as stated in section 2.03; (iv) the Manager has designated a Room for the Resident and (v) the Resident meets any additional conditions to occupancy established by the Institution, including any vaccination conditions.

  • Early Occupancy If Tenant occupies the Property prior to the Commencement Date, Tenant's occupancy of the Property shall be subject to all of the provisions of this Lease. Early occupancy of the Property shall not advance the expiration date of this Lease. Tenant shall pay Base Rent and all other charges specified in this Lease for the early occupancy period.

  • Certificates of Occupancy To the extent the same are in Seller’s possession, original or photocopies of certificates of occupancy for all space within the Improvements located on the Property;

  • Construction of Improvements Lessee shall construct its planned facilities and install therein all necessary fixtures, equipment, and accessories, all of which shall be in accordance with the terms and conditions of this Lease and any applicable city code or FAA requirements. Lessee shall complete construction of the new improvements within one (1) year after the Effective Date of this Lease. Existing improvements shall be deemed to have been appropriately constructed so long as they are well-maintained and meet all applicable city code and FAA requirements. It is expressly understood that upon the expiration of the Lease, all hangar improvements shall become property of Lessor. 8.1 Lessee agrees to reimburse Lessor for the apportioned costs of roadway improvements including, but not limited to: excavation, paving, drainage, and fencing required for all extensions of the access road to the Leased Premises. Lessee shall be responsible for the cost of all extensions, as applicable, of all water, sewer, and other utilities to the Leased Premises, as well as any fees for obtaining service. Lessee shall be responsible for payment at the time improvements are completed. Lessee shall remit payment to Lessor within thirty (30) days from the date of invoice. 8.2 Lessee agrees to construct, at Lessee’s expense, aircraft access improvements, including without limitation driveways, taxi lanes, aprons, and ramps to its planned facility. Construction and location of the access improvements shall comply with specifications set forth by Lessor at the time of plan’s approval. Lessee understands that those portions of the constructed Airport access improvements situated outside the boundaries of the Leased Premises shall become, immediately upon their completion to Lessor’s satisfaction, the property of Lessor. All construction and any connections to the runway of any apron or taxi lane shall in addition be governed by any rules or regulations regarding Airport operations and must be approved of and overseen by Airport management. Constructed facilities shall not be occupied until access is completed and accepted by Lessor. 8.3 Upon completion of improvements, Lessee shall provide an 8 ½” x 11” site plan detailing a scaled drawing of the Leased Premises, hangar foot print, office area, parking, landscaping, and any other improvements. 8.4 The provisions provided above do not relieve Lessee from compliance with all applicable building code requirements and acquiring all necessary licenses and permits from any governmental authority. 8.5 If the aircraft hangar or other improvements on the Leased Premises are damaged or destroyed, Lessee shall do whatever is necessary to repair, rebuild, or restore the structure and other improvements to substantially the same condition existing prior to the damage or destruction within 180 days of the date of destruction. Upon written request from Lessee, Lessor may extend the 180-day timeline to the extent reasonably necessary due to conditions beyond the control of Lessee.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!