Net Lease Conversion Sample Clauses
Net Lease Conversion. The Basic Rental rates in Paragraph 4 above have been determined on a "net" lease basis. Accordingly, effective as of the Eleventh Expansion Space Commencement Date, Tenant shall pay Tenant's proportionate share of Actual Operating Expenses with respect to the Eleventh Expansion Space, without adjustment for a base year or expense stop. Effective as of December 1, 2021, Tenant shall pay Tenant's proportionate share of Actual Operating Expenses with respect to the Relocated Premises, without adjustment for a base year or expense stop. Notwithstanding anything to the contrary contained in the foregoing, provided no uncured event of default exists under the Lease beyond applicable notice and cure periods, Landlord agrees to ▇▇▇▇▇ Tenant's proportionate share of Actual Operating Expenses (but not the electrical costs described in Paragraph 7(b) of the Lease) due with respect to the Eleventh Expansion Space for the first four (4) full calendar months after the Eleventh Expansion Space Commencement Date.
Net Lease Conversion. The Base Rent rates in Paragraph 2 above have been determined on a "net" lease basis. Accordingly, effective as of the Tenth Expansion Space Commencement Date, Tenant shall pay Tenant's proportionate share of Actual Operating Expenses with respect to the Tenth Expansion Space, without adjustment for a base year or expense stop.
Net Lease Conversion. The Base Rent rates in Paragraph 2 above have been determined on a "net" lease basis. Accordingly, effective as of the Ninth Expansion Space Commencement Date, Tenant shall pay Tenant's proportionate share of Actual Operating Expenses with respect to the Ninth Expansion Space only, without adjustment for a base year or expense stop. Notwithstanding anything to the contrary contained in the foregoing, provided no uncured event of default exists under the Lease beyond applicable notice and cure periods, Landlord agrees to ▇▇▇▇▇ Tenant's proportionate share of Actual Operating Expenses (but not the electrical costs described in Paragraph 7(b) of the Lease) due for the first three (3) full calendar months after the Ninth Expansion Space Commencement Date.