Building’s Pro Rata Share Sample Clauses
The "Building’s Pro Rata Share" clause defines the proportionate share of certain costs or expenses that a specific building or tenant is responsible for within a larger property or development. Typically, this share is calculated based on the ratio of the rentable area of the building or leased premises to the total rentable area of all buildings or spaces included in the calculation. For example, if a tenant occupies 10% of the total rentable area, they would be responsible for 10% of the applicable common expenses. This clause ensures a fair and transparent allocation of shared costs, such as maintenance, utilities, or taxes, among all occupants or owners, preventing disputes and clarifying financial responsibilities.
POPULAR SAMPLE Copied 1 times
Building’s Pro Rata Share. Building's Pro Rata Share" ------------------------- means a fraction, the numerator of which is the total aggregate Rentable Square Feet in the Building, and the denominator of which is the total aggregate Rentable Square Feet in all of the buildings in the Project for which certificates of occupancy have been issued. The Building's Pro Rata Share will be calculated as of January 1 of each calendar year; which calculation will remain in effect (regardless of changes to the Project) until the following January 1.
Building’s Pro Rata Share. Building's Pro Rata Share" means a fraction, the numerator of which is the total aggregate Rentable Square Feet in the Building, and the denominator of which is the sum of (i) total aggregate Rentable Square Feet in the Building, plus (ii) the total aggregate Rentable Square Feet in all of the buildings in the Project for which certificates of occupancy have been issued and in which at least 80% of the Rentable Square Footage is occupied by rent-paying tenants ("Occupancy Threshold"), plus (iii) as to any buildings in the Project other than the Building do not meet the Occupancy Threshold during any calendar year, then during each year following the date such building is first occupied by a rent-paying tenant prior to the year such building reaches the Occupancy Threshold, the Rentable Square Footage portion of such building which is occupied by rent-paying tenants during any portion of such calendar year will be included in the denominator of the above-referenced fraction for purposes of calculating the Building's Pro Rata Share [by way of example, if Landlord were to hereafter construct a 100,000 Rentable Square Foot building, and in a particular year—prior to the year in which the Occupancy Threshold is achieved for such building—the highest occupancy level of such building is 25,000 Rentable Square Feet, then the denominator of the fraction for purposes of calculating the Building's Pro Rata Share applicable to such calendar year would be increased by 25,000, from 273,468 to 298,468]. The Building's Pro Rata Share will be calculated as of January 1 of each calendar year; which calculation will remain in effect (regardless of changes to the Project) until the following January 1. As of the date of this Lease, the Building is the only building in the Project, so the Building Pro Rata Share is 100%.
Building’s Pro Rata Share. The Building’s Pro Rata Share of Project Operating Costs is Twelve and Thirty-Seven Hundredths Percent (12.37%), which fraction equals the rentable square footage of the Premises divided by the total rentable square footage of the buildings owned by Landlord in Kirkland 405 Corporate Center. The Building’s Pro Rate Share of Association Operating Costs is Five and Sixty-Five Hundredths Percent (5.65%), which fraction equals the acreage of the Land divided by the total acreage covered by the Association.