Commercial Rent Clause Samples

Commercial Rent. During the initial lease up of the Commercial Improvements, Developer Occupant must use diligent, good faith efforts to lease at least 5,000 square feet of Commercial Improvements for at least 5 years to a Local Non-Profit Entity or Entities for no more than the Non-Profit Rent during such 5-year period. If there is only 5,000 square feet of Commercial Improvements remaining unleased, then any lease that does not meet these requirements will require approval from Declarant. If after 3 years after Developer Occupant’s leasing efforts begin for the Commercial Improvements, Developer Occupant has not, despite its diligent, good faith efforts to attempt to lease space to a Non-Profit Entity or for the Non-Profit Rent, found tenants meeting these requirements, then Developer Occupant is no longer required to attempt to lease space to a Non-Profit Entity or for the Non-Profit rent. Except for non-profit tenants not meeting the requirements of this Section I or under the circumstances described in the second sentence of this Section I, Declarant will not have approval rights concerning the tenants of the Commercial Improvements. Developer Occupant may begin leasing efforts for the Commercial Improvements at any time up to 18 months before Substantial Completion of Commercial Improvements, if, and only if, Developer Occupant notifies Declarant that Developer Occupant is beginning leasing efforts for the Commercial Improvements.

Commercial Rent. [Include as applicable] The amount to be paid by Developer to the County consisting of ( %) of Net Rental Operating Income from the

Commercial Rent. 3.5.1 Commercial Rent in respect of any portion of the Land is an annual rent comprising the sum of eight percent (8%) of the Site Value of the portion of the Land. 3.5.2 In this clause: Site Value is, as at any anniversary of the Commencing Date, the then current site value of the relevant portion of the Land determined by the Valuer General in accordance with the Valuation of Land ▇▇▇ ▇▇▇▇.

Commercial Rent. Commercial Leases

Commercial Rent distress can only be levied in commercial premises. • Seizing of Goods a) Goods which are seized: b) Shall not contravene the rules set out in the Bailiffs Code of Practice c) Shall be held for a minimum of 5 calendar days to allow the defaulter time to raise money to redeem the goods before sale if he/she so wishes; and d) Must be passed to an independent auctioneer for sale within a further 14 calendar days unless otherwise agreed with the Council

Commercial Rent. Following the execution of any commercial sublease for any portion of the Premises (“Space Lease”, as defined in Section 14.6) Lessee shall pay to County 50% of all net rental proceeds (meaning, rental proceeds after payment of all costs and expenses of the operation of the commercial space) from the Space Lease (“Commercial Rent”) after Lessee receives a sum of net rental proceeds from the Space Lease equal to the sum of out-of-pockets costs (“Recoverable Costs”) incurred by Lessee to construct and improve the commercial space, including without limitation tenant improvements paid for by Lessee or its affiliate. The amount of construction costs included in Recoverable Costs shall be based on the Lessee’s final Project cost certification which shall be submitted to County no later than June 1 of the year following the year in which the Conversion Date occurs. If any such sublease is with an Affiliate of Lessee or is not otherwise an arm’s length market-rate transaction, and, in either event, the commercial sublease is not for a community-serving non-profit purpose, then the market rent for the sublease, as determined at Lessee’s expense by an MAI appraiser reasonably approved by County, shall be used for purposes of calculation of Commercial Rent. Lessee shall pay the Commercial Rent by June 1 of each year. Lessee shall pay the final Commercial Rent payment to County within 20 days of expiration or earlier termination of the Lease. 10

Commercial Rent. Commencing with the Construction Commencement Date and continuing until the expiration or termination of this Agreement, Tenant shall pay Landlord an annual fee equal to the commercial rent rate set forth in the Terms Summary above multiplied by the Acreage, rounded to the nearest one-one hundredth (1/100th) of an acre, and prorated accordingly (the “Commercial Rent”). The Commercial Rent shall be payable annually, in advance, within thirty (30) days of the Construction Commencement Date and each payment date thereafter, and shall be prorated for (a) any partial payment period preceding the Construction Commencement Date; and (b) to account for any changes in the Acreage; provided that Tenant shall receive a one- time credit upon the remittance of the first Commercial Rent payment for any unamortized Diligence Fee. Commercial Rent shall escalate at the rate set forth in the Terms Summary beginning on the fifth anniversary of the Operations Date and every five (5) years thereafter.