Common use of Occupancy Adjustment Clause in Contracts

Occupancy Adjustment. If the Building is less than eighty-five percent (85%) occupied during the Calendar Year or during any Lease Year or Partial Lease Year subsequent to the Calendar Year, then the Operating Costs and Utility and Energy Costs will be adjusted during the Calendar Year and the Operating Costs and Utility and Energy Costs will be adjusted during any such Lease Year or Partial Lease Year so as to reflect eighty-five percent (85%) occupancy. The aforesaid adjustment will only be made with respect to those items that are in fact affected by variations in occupancy levels.

Appears in 2 contracts

Samples: Short Form Lease (Arno Therapeutics, Inc), Lease Agreement (Intelligroup Inc)

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Occupancy Adjustment. If the Building is less than eightyninety-five percent (8595%) occupied during the Calendar Year or during any Lease Year or Partial Lease Year subsequent to the Calendar Year, then the Operating Costs and Utility and Energy Costs will be adjusted during the Calendar Year and the Operating Costs and Utility and Energy Costs Building Electric will be adjusted during any such Lease Year or Partial Lease Year so as to reflect eightyninety-five percent (8595%) occupancy. The aforesaid adjustment will only be made with respect to those items that are in fact affected by variations in occupancy levels.

Appears in 1 contract

Samples: Short Form Lease (Geron Corp)

Occupancy Adjustment. If the Building is less than eightyninety-five percent (8595%) occupied during the Calendar Year or during any Lease Year or Partial Lease Year subsequent to the Calendar Year, then the Operating Costs and Utility and Energy Costs will be adjusted during the Calendar Year and the Operating Costs and Utility and Energy Costs will be adjusted during any such Lease Year or Partial Lease Year so as to reflect eightyninety-five percent (8595%) occupancy. The aforesaid adjustment will only be made with respect to those items that are in fact affected by variations in occupancy levels.

Appears in 1 contract

Samples: Lease Agreement (Inovio Biomedical Corp)

Occupancy Adjustment. If the Building is less than eightyninety-five percent (8595%) occupied during the Calendar Year or during any Lease Year or Partial Lease Year subsequent to the Calendar Year, then the Operating Costs and Utility and Energy Costs will be adjusted during the Calendar Year and the Operating Costs and Utility and Energy Costs will be adjusted during any such Lease Year or Partial Lease Year so as to reflect eightyninety-five percent (8595%) occupancyoccupan­cy. The aforesaid adjustment will only be made with respect to those items that are in fact affected by variations in occupancy levels.

Appears in 1 contract

Samples: Short Form Lease (Cover All Technologies Inc)

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Occupancy Adjustment. If the Building is less than eighty-five percent (85%) occupied during the Calendar Year or during any Lease Year or Partial Lease Year subsequent to the Calendar Year, then the Operating Costs and Utility and Energy Costs will be adjusted during the Calendar Year and the Operating Costs and Utility and Energy Costs will be adjusted during any such Lease Year or Partial Lease Year so as to reflect eighty-eighty- five percent (85%) occupancy. The aforesaid adjustment will only be made with respect to those items that are in fact affected by variations in occupancy levels.

Appears in 1 contract

Samples: Short Form Lease (Ophthotech Corp.)

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