Rent Calculation. The Developer shall use the Monthly Rent for the current calendar year to determine the rental amount for Affordable Dwelling Units in each lease year.
Rent Calculation. The Parties hereby agree that the Base Rent payable pursuant to Section 4.1.1 during the Initial Term commencing upon the Open Date of this Lease, shall be calculated (“Base Rent Calculation”) using a standard financial amortization schedule. The amortization schedule shall calculate the principal and interest of the actual Construction Cost of Hotel, over a ten (10) year period using the following annual interest rates: Year One (1) and Year Two (2): two and one half percent (2.5%); Year Three (3) and Year Four (4): three and one half percent (3.5%); Year five (5) through Year Ten (10): four and one half percent (4.5%). For purposes of the Base Rent Calculation, Construction Costs and Soft Costs shall not exceed Landlord’s Project GMP of eight million two hundred eighteen thousand nine hundred forty-eight dollars and forty-six cents ($8,218,948.
Rent Calculation. During the first 12 months of this Lease, Tenant shall pay to Landlord, with respect to each calendar year or fractional calendar year, as the case may be, total rental payments in the monthly sum of Five Hundred Eighty Seven Dollars ($ 587.00), being the sum of: (a) Subsidized Rent of Four Hundred Seventy Dollars ($ 470.00) [being the product of $ 12.80, the subsidized annual rent per square foot, and 440square feet, the area of the Leased Premises, divided by 12 months]; and (b) common area monthly rent of One Hundred Seventeen Dollars ($ 117.00), representing a surcharge of twenty-five percent (25%) of the basic monthly rent to cover the Landlord's cost of maintaining and improving the common areas within the building. During subsequent 12 Month periods of this Lease, by similar calculation, Tenant shall pay to Landlord, with respect to each calendar year or fractional calendar year, as the case may be, total rental payments as follows:
Rent Calculation. During the first 12 months of this Lease, Tenant shall pay to Landlord, with respect to each calendar year or fractional calendar year, as the case may be, total rental payments in the monthly sum of Two Thousand One Hundred Dollars ($ 2,100.00), being the sum of: (a) Subsidized Rent of One Thousand Six Hundred Eighty Dollars ($ 1,680.00) [being the product of $ 16.00, the subsidized annual rent per square foot, and square feet, the area of the Leased Premises, divided by 12 months]; and (b) common area monthly rent of Four Hundred Dollars ($ 420.00), representing a surcharge of twenty-five percent (25%) of the basic monthly rent to cover the Landlord's cost of maintaining and improving the common areas within the building.
Rent Calculation. 7.1 The rent to be reserved under the Lease (therein defined as the “Initial Rent”) shall be fifty-nine euro seventy-five cents (€59.75) per square foot of the Floor Area of the Office Premises calculated in accordance with the Measuring Code, together with a sum of seven euro fifty (€7.50) per square foot of the Floor Area for the Basement Storage Area and three thousand seven hundred and fifty euro (€3,750) in respect of each of the thirty one (31) car parking spaces. The Floor Area of the Demised Premises shall be measured and ascertained by the Landlord and the Tenant on such date as the Landlord shall notify to the Tenant and in the event of there being a dispute as to the Floor Area the matter shall be determined by an Independent Chartered Surveyor as set out hereunder:-
(a) The Landlord and the Tenant shall endeavour to agree the Floor Area of the Demised Premises;
(b) If they cannot do so the Floor Area shall be determined by such Independent Chartered Surveyor as the parties may agree or in default of agreement by such Chartered Surveyor as may be nominated upon the application of either party by the President (or other acting senior officer) of the Society of Chartered Surveyors Ireland;
(c) The Independent Chartered Surveyor so appointed shall act as an expert and shall afford to the Landlord and the Tenant a reasonable opportunity of stating (whether in writing or otherwise as may be decided by him) reasons in support of such contentions as each party may wish to make relative to the matter or matters under consideration.
7.2 The determination of the Independent Chartered Surveyor shall be binding on the parties and his costs shall be borne by the parties as he shall decide.
7.3 In the event of the Floor Area not having been agreed by the Closing Date, the Tenant shall pay to the Landlord rent of six million eight hundred and five thousand three hundred thirty nine euro (€6,805,339) per annum (exclusive of any service charge, VAT or other payments due by the Tenant under the Lease) based on an estimated Floor Area of one hundred and eleven thousand seven hundred and ninety six (111,796) square feet of Office space, one thousand two hundred and thirty seven (1,237) square feet of basement storage space together with three thousand seven hundred and fifty euro (€3,750) in respect of each of the thirty one (31) car parking spaces and within fourteen days of agreement on or determination of the Floor Area there shall be paid by the Landlord to the...
Rent Calculation. Annual Rental shall be calculated based upon a fifteen percent (15%) capitalization rate of the difference of the Project Cost less (i) the Incentives, [(ii) the Tenant capital contributions (if any),] (iii) the Escrow Amount (as defined in Section 31 below) and (iv) the value of warrants issued by Tenant to Tiger Trust pursuant to [reference to agreement]. For example, based upon an assumed Project Cost of $150,137,402, Incentives in the amount of $7,000,000, an Escrow Amount of $10,000,000 and the value of warrants issued by Tenant of $18,750,000, the Annual Rental would be $17,158,110 ($150,137,402 - $35,750,000 = $114,387,402 x 0.15 = $17,158,110 and each monthly installment of Basic Rent would be $1,429,833.
Rent Calculation. Based on the rentable square footage of the Building, the following monthly Rent is payable during the Initial Term:
Rent Calculation. During Lease Renewal Term, beginning July 1, 2013 and ending June 30, 2014, Tenant shall pay to Landlord, with respect to each calendar year or fractional calendar year, as the case may be, total rental payments in the monthly sum of Twenty Thousand Four-Hundred and Sixteen Dollars and Sixty-Seven Cents ($20,416.67), being the product of the square footage of the Building (70,000 sq ft) multiplied by the rent per square foot ($3.50), which is Two Hundred and Forty-Five Thousand Dollars and Zero Cents ($245,000.00), divided by twelve (12) months.
Rent Calculation. For the purposes of this Lease, "Initial Rent" shall mean Three Hundred Sixty Eight Thousand and no/100 Dollars ($368,000.00) per annum. "Adjusted Rent" shall mean a per annum amount, calculated on June 1, 1996 and June 1 of every fifth year thereafter, equal to the sum of $368,000, plus (or minus, in the event of decrease) (x), plus (or minus, in the event of decrease) (y), where (x) equals 13,000 (the approximate number of office square feet in the Leased Premises) multiplied by the amount by which the then-existing NAIOP Office Rate has increased or decreased in comparison with the 1991 NAIOP Office Rate, and (y) equals 62,000 (the approximate number of warehouse square feet in the Leased Premises) multiplied by the amount by which the then- existing NAIOP Warehouse Rate has increased or decreased in comparison with the 1991 NAIOP Warehouse Rate. For the purposes of this Section 4.2, the term "NAIOP Office Rate" shall mean the stated "average" office space rental rate (measured in annual dollars and cents per square foot) for "office warehouse" properties in the "Southwest Suburban" submarket (or other appropriate description of the submarket in which the Leased Premises are located), as published by the Minnesota Chapter of the National Association of Industrial Office Parks in the June update to their annual Industrial Space Update, and the term "NAIOP Warehouse Rate" shall mean the stated "average" warehouse space rental rate (measured in annual dollars and cents per square foot) for "office warehouse" properties in the "Southwest Suburban" submarket (or other appropriate description of the submarket in which the Leased Premises are located), as published by the Minnesota Chapter of the National Association of Industrial Office Parks in the June update to their annual Industrial Space Update. In the event that the National Association of Industrial Office Parks ceases to publish the data necessary to calculate the "NAIOP Warehouse Rate" and/or "NAIOP Office Rate", Landlord and Tenant shall reasonably agree on an alternative method for calculating these amounts. The applicable NAIOP Office Rate for 1991 and 1996, respectively, was $6.88 psf and $6.87 psf, and the applicable NAIOP Warehouse Rate for 1991 and 1996, respectively, was $3.48 psf and $3.56 psf The Adjusted Rent effective as of October 1, 1996, is $372,829.92. Notwithstanding anything contained herein to the contrary, in no event shall the annual rent payable by Tenant hereunder be less than...
Rent Calculation. Rent shall be calculated as an amount equal to one hundred percent (100%) of the amount of the principal and interest payments on the portion of the Leasehold Loan used to finance the Tenant Improvements, which total amount and monthly payment amounts (which shall be based on a ten-year (10-year) amortization schedule with equal monthly payments) shall be certified by Leasehold Lender in the Affidavit of Completion and attached as an addendum to this Lease.
