Gross Up For Less Than 95% Occupancy Sample Clauses

Gross Up For Less Than 95% Occupancy. If occupancy of the Building during the Base Year or any subsequent year is less than ninety-five percent (95%), then variable Expenses for the Base Year or such subsequent year shall be "grossed up" to that amount of Expenses that, using reasonable projections, would normally be expected to be incurred during the Base Year or such subsequent year if the Building were ninety-five percent (95%) occupied during the Base Year or such subsequent year, as determined under generally accepted accounting principles consistently applied. The term "grossed up" as used in this Article shall mean and refer to the method of calculating variable Expenses which is reasonably designed to approximate the cost of providing a variable Expense service to the rentable areas of the Building which would typically be receiving such service. The gross-up treatment shall be applied only with respect to variable Expenses (which are those component expenses of Expenses that are affected by variations in occupancy levels) arising from services provided to space in the Building being occupied by tenants in order to equitably allocate such variable Expenses to the tenants receiving the benefit thereof; provided, however, that in no event shall such treatment result in any profit to Landlord. Such treatment shall take into account the degree to which such expenses would increase if the service in question were being provided to ninety-five percent (95%) of the rentable area of the Building, as opposed to the rentable area to which such service was actually provided, and shall also, take into account the period of time during the Base Year or subsequent year in question during which the occupancy of the Building was less than ninety-five percent (95%).
Sample 1
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Related to Gross Up For Less Than 95% Occupancy

  • 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).

  • Ready for Occupancy For purposes of Section 1.3.2 of this Agreement, the Premises shall be deemed “Ready for Occupancy” upon the substantial completion of the Tenant Improvement Work. Subject to Section 4.2 below, the Tenant Improvement Work shall be deemed to be “substantially complete” upon the completion of the Tenant Improvement Work pursuant to the Approved Construction Drawings (as reasonably determined by Landlord), with the exception of any details of construction, mechanical adjustment or any other similar matter the non-completion of which does not materially interfere with Tenant’s use of the Premises.

  • 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.

  • 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.

  • 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.

  • Substantial Completion 9.8.1 When the Contractor considers that the Work, or a designated portion thereof which has been accepted in writing to by the State, is substantially complete as defined in Subparagraph

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • Beneficial Occupancy A. The County may, at any time, and from time to time, during the performance of the Work, enter the structure for the purpose of installing any necessary Work by County labor of other contracts, and for any other purpose in connection with the installation of facilities. In doing so, the County shall endeavor not to interfere with the Contractor and the Contractor shall not interfere with other Work being done by or on behalf of the County. B. If, prior to completion and Final Acceptance of all the Work under a specific Job Order, the County takes possession of any structure (whether completed or otherwise) comprising a portion of that Project with the intent of retaining possession thereof (as distinguished from temporary possession contemplating the return to the Contractor), then, while the County is in possession of the same, the Contractor, notwithstanding its normal responsibilities, shall be relieved of liability for loss or damage to structure other than that resulting from the Contractor's fault or negligence. Such taking of possession by the County shall not relieve the Contractor from any provisions of this Contract respecting such structure, other than to the extent specified in the preceding sentence, nor constitute a final acceptance of such structure.

  • 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.

  • Occupancy Period a. The student may begin occupancy of their assigned room space on the dates listed in the University catalog. Failure to occupy the room by the first official day of classes each semester may result in a reassignment of the room; however, the residential student agreement will remain enforced. Students are expected to occupy their assigned room. Students who choose to vacate their assignment without being officially exempted from the agreement have abrogated their right to that space and are required to return any key(s) to the vacated assignment as directed. Failure to return key(s) as directed will result in billing for associated lock changes(s). Students remain liable for room and board charges during the life of the agreement. Students who have previously vacated and subsequently return during the agreement period will be reassigned to an available space.

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