Space and rack rental Sample Clauses

Space and rack rental. Background Members of the SHKP Group have been renting and licensing and will continue to rent and license space and racks located in the Group’s data centres (the “Space and Rack Rental Arrangement”). The Group has charged and will continue to charge the relevant members of the SHKP Group rental or license fees at rates comparable with the rates at which the Group charges other independent third party customers taking into account the area of space and/or number of racks rented or licensed and the rental or license term. The New Agreement On 5 May 2020, the Company and SHKP entered into a new agreement whereby the Company has agreed to procure the relevant members of the Group to let or license space and racks at the Group’s data centres to members of the SHKP Group for a period from 1 July 2020 to 30 June 2023 (both days inclusive). This agreement takes effect from the date of signing, and is a master agreement which sets out the principles upon which detailed terms are to be determined in respect of each transaction to be carried out pursuant to the Space and Rack Rental Arrangement. The said principles include that the transactions under the Space and Rack Rental Arrangement shall be negotiated on an arm’s length basis and on normal commercial terms, and the rental or license fees payable by the relevant members of the SHKP Group shall be comparable with the rates at which the Group charges independent third party customers of the Group taking into account the area of space and/or number of racks rented or licensed and the rental or license term. The New Agreement is in essence of substantially the same terms as those under the previous agreement entered into by the parties on 2 May 2017, which is due to expire on 30 June 2020. Relevant members of the SHKP Group and of the Group have entered into and will enter into separate lease or license or service agreements to provide for the detailed terms with respect to the leasing or licensing of space/rack pursuant to the Space and Rack Rental Arrangement. Members of the Group will refer to the then available market rates when transactions under the Space and Rack Rental Arrangement are entered into with members of the SHKP Group from time to time. The historical amounts The annual cap for the Space and Rack Rental Arrangement for each of the three financial years ending 30 June 2020 as set out in the 2017 Announcement was HK$3,600,000. The following table sets out the aggregate amount of rental and license ...
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Related to Space and rack rental

  • Rental You may not rent, lease, or lend the SOFTWARE PRODUCT.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Rent The Tenant shall pay the Landlord, in equal monthly installments, $ ("Rent"). The Rent shall be due on the of every month (“Due Date”) and paid under the following instructions: .

  • Equipment Rental Copies of rental agreements for the equipment used, including the rental rate; and the number of hours the equipment was used on the project.

  • Additional Rent In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Storage Space Effective as of the Second Floor Commencement Date, Landlord hereby leases to Tenant certain additional space containing approximately 1,000 rentable square feet in such areas as more particularly designated on Schedule X- 0 xxxxxxxx hereto. In addition, Landlord hereby grants to Tenant the right to lease certain additional storage space in such areas of the Project as are designated for storage by Landlord on a first-come, first-served basis (the initial storage space and additional storage space leased to Tenant by Landlord, if any, are collectively the "Storage Space"). Tenant may exercise its option to lease additional Storage Space from time to time throughout the term of the Lease by giving written notice to Landlord of its desire to lease the same, which notice shall be conditioned upon the availability of the desired space. Tenant shall pay Landlord an annual rental for the Storage Space (the "Storage Rent") equal to $10.25 per rentable square foot of GLA of the Storage Space, adjusted annually at the rate of 2 1/2% per annum. The Lease Years for Storage Space shall be concurrent with the Lease Years for the Premises. No janitorial or trash removal services shall be provided to the Storage Space. No other charges shall be applied, as Additional Rent or otherwise, to the Storage Space, except for charges incurred by Landlord in enforcing its rights relating to the Storage Space under this Lease, in accordance with the terms of this Lease. The Tenant shall have the option, exercisable at any time during the Term, to cancel its lease of the Storage Space, upon thirty (30) days' prior written notice to the Landlord. Except as provided in this Section 2.1(b), the terms and conditions of Tenant's occupancy of the Storage Space shall be as set forth in this Lease. The Storage Space shall be leased in its absolute "AS IS" condition. There shall also be no core factor for the Storage Space (i.e., the usable areas shall be equal to the rentable area).

  • Term of the Lease The lease begins at p.m. on (the “Check-in Date”) and ends at a.m. on (the “Checkout Date”).

  • Equipment Rental Charges i. The Judicial Council may use either the Contractor’s audio-visual provider or provide for its own audio-visual source to service the Program. Should the Judicial Council use the Contractor’s audio-visual provider, the charges for services and/or equipment provided under this exhibit shall not exceed the amounts set forth in the Contractor’s Audio- Visual and Other Equipment Price List, as attached to this Agreement in Exhibit H. The Contractor shall not charge nor will the Judicial Council pay for audio-visual services and/or equipment that are provided by the Judicial Council.

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