Submetering. (A) Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for and consumption of electricity in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration. (B) Tenant shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant to the following formula: (1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and (2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises. (C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding. (D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5. (E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company. (F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Lease (dELiAs, Inc.)
Submetering. (Ai) Subject Landlord may supply electricity to service the provisions of this Section 5.3Demised Premises on a submetered basis, Landlord shall measure Tenant’s demand for and consumption of electricity Tenant in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant event shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) an amount determined by applying the number Electric Rate or, at Landlord's election, the Cost per Kilowatt Hour and Cost per Kilowatt, to Tenant's consumption of kilowatts that constituted the peak and demand for electricity in within the Demised Premises for the applicable billing period, as registered recorded on the submeter or submeters for servicing the Demised Premises, and
and (2z) Landlord's administrative charge of 12% of the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by amount referred to in clause (y) above, if and to the number extent same is permitted by laws and requirements of kilowatt hours of electricity used public authorities (such combined sum being hereinafter called "Submeter Electric Rent"). Except as set forth in the Premises for foregoing clause (z), Landlord will not charge Tenant more than the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices Electric Rate or, at Landlord’s option's election, the Cost per Kilowatt and Cost per Kilowatt Hour for the electricity provided pursuant to this paragraph. If, pursuant to paragraph (a) hereof, Landlord shall have elected to supply electricity to the Demised Premises in accordance with this paragraph, the fixed rent shall be decreased by the Electric Rent. At Landlord's request, Tenant agrees to execute a supplementary agreement modifying this lease to reflect the changes in the fixed rent resulting from such election.
(ii) Where more than one submeter measures the electric service to Tenant, the electric service rendered through each submeter shall be computed and billed separately in accordance with the provisions hereinabove set forth.
(iii) Tenant shall pay to Landlord, on account of the Submeter Electric Rent payable pursuant to this Section 21.03, the annual sum of $1.50 per square foot of Rentable Area ("Estimated
(iv) From time to time during the term, the Estimated Submeter Electric Rent may be adjusted by Landlord on the basis of either Landlord's reasonable estimate of Tenant's electric consumption and demand (if at any time the offices submeter(s) servicing the Demised Premises are inoperative) or Tenant's actual consumption of Landlord’s managing agentand demand for electricity as recorded on the submeter(s) servicing the Demised Premises, and, in either case at reasonable times event, the Electric Rate or Cost per Kilowatt and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration ProceedingCost per Kilowatt Hour then in effect.
(Dv) If Landlord is required by any Requirement to discontinue furnishing electricity Subsequent to the Premises as contemplated herebyend of each calendar year during the term of this lease, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) or more frequently if Landlord shall not be obligated to furnish electricity to the Premiseselect, and (y) Tenant Landlord shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation submit to Tenant a statement of the Electric Submeter Rent for such year or shorter period together with the components thereof, as set forth in connection therewith). Nothing contained in clause (i) of this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
21.03 (F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company."
Appears in 1 contract
Samples: Lease Agreement (Long Distance Direct Holdings Inc)
Submetering. (A) Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for and consumption of electricity in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven five percent (107105%) percent of the sum of Landlord’s actual cost pursuant to the following formulaof:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Subject to Section 5.3(D) hereof, Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-quarter annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty thirtieth (20th30th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth ninetieth (60th90th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) Landlord shall have the right to give a statement to Tenant from time to time pursuant to which Landlord sets forth Landlord’s good faith estimate of the Electricity Additional Rent for a particular calendar year (any such statement that Landlord gives to Tenant being referred to herein as a “Prospective Electricity Statement”; one-twelfth (1/12th) of the Electricity Additional Rent shown on a Prospective Electricity Statement being referred to herein as the “Monthly Electricity Payment Amount”). If Landlord gives to Tenant a Prospective Electricity Statement (or Landlord is required by any Requirement deemed to discontinue furnishing electricity have given to the Premises as contemplated herebyTenant a Prospective Electricity Statement pursuant to Section 5.3(E) hereof), then this Lease Tenant shall continue pay to Landlord, as additional rent, on account of the Electricity Additional Rent due hereunder for such calendar year, the Monthly Electricity Payment Amount, on the first (1st) day of each subsequent calendar month for the remainder of such calendar year, in full force and effect and shall be unaffected thereby, except the same manner as the monthly installments of the Fixed Rent hereunder (it being understood that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated required to commence such payments of the Monthly Electricity Payment Amount (x) before the first (1st) day of the calendar year to which relates the applicable Monthly Electricity Payment Amount, or (y) earlier than the thirtieth (30th) day after the date that Landlord gives the Prospective Electricity Statement to Tenant). If Landlord gives (or is deemed to have given) to Tenant a Prospective Electricity Statement after the first (1st) day of the applicable calendar year, then Tenant shall also pay to Landlord, within thirty (30) days after the date that Landlord gives the charges Prospective Electricity Statement to Tenant, an amount equal to the excess of (I) the product obtained by multiplying (x) the Monthly Electricity Payment Amount, by (y) the number of calendar months that have theretofore elapsed during such calendar year, over (II) the aggregate amount theretofore paid by Tenant to Landlord on account of the Electricity Additional Rent for electricity such calendar year. If Landlord gives (or is deemed to have given) to Tenant a Prospective Electricity Statement for a particular calendar year, then Landlord shall also provide to Tenant, within one hundred eighty (180) days after the last day of such calendar year, an invoice for the Electricity Additional Rent for such calendar year based on an actual reading of the submeter or submeters (such invoice that is based on an actual reading of the submeter or submeters being referred to herein as described in this Article 5an “Actual Reading Statement”).
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to Landlord an amount equal to the Utility Company excess (if any) of (i) the cost Electricity Additional Rent as reflected on the Actual Reading Statement that Landlord gives to Tenant, over (ii) the aggregate amount that Tenant has theretofore paid to Landlord on account of the Electricity Additional Rent (if any), within thirty (30) days after the date that Landlord gives such electricityActual Reading Statement to Tenant. Tenant shall have the right to use credit against the electrical facilities Rental thereafter coming due hereunder an amount equal to the excess (if any) of (i) the aggregate amount that Tenant has theretofore paid to Landlord on account of the Electricity Additional Rent, over (ii) the Electricity Additional Rent as reflected on such Actual Reading Statement; provided, however, that if the Expiration Date occurs prior to the date that such credit is exhausted, then exist in Landlord shall pay to Tenant the Building unused portion of such credit on or prior to obtain such direct electric service the thirtieth (without Landlord having any liability or 30th) day after the Expiration Date (it being understood that Landlord’s obligation to make such payment to Tenant in connection therewithshall survive the Expiration Date). Nothing contained If Landlord gives Tenant an Actual Reading Statement, then, unless Landlord otherwise specifies in this Section 5.5 such Actual Reading Statement, Landlord shall permit be deemed to have given to Tenant a Prospective Electricity Statement, for the calendar year immediately succeeding the calendar year that is covered by such Actual Reading Statement, that reflects Electricity Additional Rent for such immediately succeeding calendar year in an amount equal to use electrical capacity in the Building Electricity Additional Rent for such calendar year that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Companyis covered by such Actual Reading Statement.
(F) If a submeter measuring Tenant’s electrical demand and consumption in the Premises has not been installed in the Premises, or the submeters measuring Tenant’s electrical demand and consumption in the Premises have not been installed in the Premises, in either case on or prior to the date hereof, then (x) Landlord shall not discontinue furnishing electricity order such submeter or such submeters promptly after the date hereof, and (y) Landlord shall install such submeter or such submeters promptly after the Commencement Date. Landlord and Tenant shall cooperate with each other in good faith to coordinate the installation of such submeter or such submeters with Landlord’s performance of the Landlord’s Work. Landlord, in installing such submeter or such submeters, shall have the right to interrupt electrical service to the Premises as contemplated by temporarily and in accordance with good construction practice.
(G) Subject to the terms of this Section 5.5 (5.3(G), if, prior to Landlord’s installing a submeter or submeters in the Premises, Tenant occupies all or any portion of the Premises for the conduct of business, then Tenant shall pay to Landlord, as additional rent, a fee for electricity service in an amount equal to the extent permitted product obtained by multiplying (I) $0.0041, by (II) the number of square feet of Rentable Area in the Premises (or the portion thereof that Tenant is occupying for the conduct of business), by (III) the number of days in the period commencing on the date that Tenant occupies the Premises (or the applicable Requirementsportion thereof) until for the conduct of business and ending on the date immediately preceding the date that the submeter for the Premises or the applicable portion thereof is operational or that the submeters for the Premises or the applicable portion thereof are operational (such fee being referred to herein as the “Electricity Inclusion Charge”). Landlord shall give Tenant obtains electric service directly an invoice for the Electricity Inclusion Charge from time to time (but not less frequently than monthly). Tenant shall pay the Electricity Inclusion Charge to Landlord on or prior to the thirtieth (30th) day after the date that Landlord gives each such invoice to Tenant. If (I) the monthly amount that Tenant would have paid to Landlord as the Electricity Additional Rent for the period that Tenant occupies the Premises or the applicable portion thereof for the conduct of business prior to the date that the submeter is, or the submeters are, operational (as determined using the average monthly submeter readings for the period of three (3) months after the date that the submeter is, or the submeters are, operational), exceeds (II) the Electricity Inclusion Charge for any particular period of one (1) month, then Tenant shall pay to Landlord an amount equal to such excess for each such month within thirty (30) days after Landlord gives to Tenant an invoice therefor. If (I) the Electricity Inclusion Charge for any particular period of one (1) month, exceeds (II) the monthly amount that Tenant would have paid to Landlord as the Electricity Additional Rent for the period that Tenant occupies the Premises or the applicable portion thereof for the conduct of business prior to the date that the submeter is, or the submeters are, operational (as determined using the average monthly submeter readings for the period of three (3) months after the date that the submeter is, or the submeters are, operational), then Landlord, at Landlord’s option, shall either (x) refund promptly to Tenant an amount equal to such excess for each such month, or (y) credit such excess for each such month against the monthly installments of Rental next becoming due and payable hereunder (together with interest on such excess calculated at the Base Rate from the Utility Companydate that Tenant is entitled to such credit). If Landlord gives Tenant such credit for such excess, and the Expiration Date occurs before the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date).
Appears in 1 contract
Submetering. (A) Subject to On and after the provisions of this Section 5.3Commencement Date, Landlord shall measure Tenant’s demand for and consumption of supply electricity to the Premises on a submetered basis in accordance with this Section 6.
1.1. Tenant shall purchase from Landlord, at Landlord's actual out-of-pocket cost therefor, all electricity consumed or to be consumed in the Premises using and shall pay to Landlord or a submeter meter company designated by Landlord (a) the actual out-of-pocket cost of the electricity consumed on those floors of the Building on which the Premises (or portions thereof) are located, as determined by a meter or meters (measuring both consumption and demand) and related equipment installed (or, if existing, retrofitted) by Landlord in accordance with Landlord's specifications, (b) the actual out-of-pocket cost of keeping the meter(s) and related equipment in good working order and repair and (c) any other actual out-of-pocket costs incurred by Landlord in providing such electricity to Tenant (it being understood that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or for all costs and expenses incurred in connection with the installation of such supplemental submeter meters or submetersrelated equipment). With respect to a multiple-tenant floor, the cost of electricity, installation and maintenance to be paid by Tenant shall be determined by multiplying Tenant's percentage of the total Rentable Area of such floor by the sum of (i) the total amount of the electricity consumed by all tenants or occupants of such floor as measured by the meter on such floor, and (ii) the cost of keeping the meter(s) and related equipment in good working order and repair; provided, however, that if Tenant requests Landlord to install a separate meter to measure Tenant's actual consumption of electricity, Landlord shall install such meter, at Landlord's sole cost and expense, and Tenant shall pay (A) for the cost of Tenant’s cost's actual consumption of electricity as measured by such separate meter, as part of the applicable Alteration.
(B) Tenant shall pay to the full cost of any maintenance of any separate meter performed by Landlord, as additional rent, an amount and (the “Electricity Additional Rent”C) equal to one hundred seven (107%) percent tenant's percentage of the sum Rentable Area of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, floor multiplied by (y) the number cost of kilowatts that constituted the peak demand for electricity consumed in the Premises for common areas of Tenant's floor. In determining the applicable billing period, as registered on actual cost of the submeter or submeters for electricity consumed in the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for take into account any special abatements or rebates, but only to the extent that such abatements or rebates actually decrease the actual cost to Landlord of such electricity, and such special abatements or rebates shall be deducted from Tenant's Costs. In no event shall the Electricity Additional Rent from time for submetered electricity supplied to time (but no the Premises be more or less frequently than quarter-annually)Landlord's actual cost to purchase and distribute such electricity. Tenant shall pay If any tax is imposed upon the Electricity Additional Rent to received by Landlord on from the sale or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation resale of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations Tenant agrees that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable RequirementsLaw, Tenant shall reimburse such taxes to Landlord as Additional Rent within 20 days after demand therefor. Bills for the cost of electricity, installation and maintenance shall be rendered at such times as Landlord may elect, and such amounts shall be paid by Tenant as Additional Rent within 20 days of Tenant's receipt of bills therefor. Landlord covenants to use all reasonable efforts to provide such bills to Tenant promptly and in any event at least once every three (3) until Tenant obtains electric service directly from months. If there is more than one meter for the Utility CompanyPremises, the electricity rendered through each meter may be computed and billed separately.
Appears in 1 contract
Submetering. (Ai) Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for supply electricity to service the Demised Premises and consumption of electricity in all equipment (wherever located) exclusively servicing the Demised Premises using a submeter that isincluding, or submeters that arewithout limitation, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part all of the applicable Alteration.
(B) heating, ventilating and air conditioning equipment exclusively serving the Demised Premises, on a submetered basis, and Tenant in such event shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) an amount determined by applying the number Electric Rate or, at Landlord’s election, the Cost per Kilowatt Hour and Cost per Kilowatt, to Tenant’s consumption of kilowatts that constituted the peak and demand for electricity in within the Demised Premises for the applicable billing period, as registered recorded on the submeter or submeters for servicing the Demised Premises, and
and (2z) Landlord’s administrative charge of 4% of the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by amount referred to in clause (y) above, if and to the number extent same is permitted by laws and requirements of kilowatt hours of electricity used public authorities (such combined sum being hereinafter called “Submeter Electric Rent”). Except as set forth in the Premises for foregoing clause (z), Landlord will not charge Tenant more than the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices Electric Rate or, at Landlord’s optionelection, at the offices Cost per Kilowatt and Cost per Kilowatt Hour for the electricity provided pursuant to this paragraph. Landlord shall pay all electric charges directly to the appropriate authority in a timely manner.
(ii) Where more than one submeter exclusively measures the electric service to Tenant, the electric service rendered through each submeter shall be computed and billed separately in accordance with the provisions hereinabove set forth.
(iii) Tenant shall pay to Landlord, on account of the Submeter Electric Rent payable pursuant to this paragraph 6.03, the annual sum of $1.50 per square foot of Rentable Area (“Estimated Submeter Electric Rent”), subject to the adjustments on the first day of each and every calendar month of the term (except that if the first day of the term is other than the first day of a calendar month, the first monthly installment, prorated to the end of said calendar month, shall be payable on the first day of the first full calendar month).
(iv) From time to time during the term, the Estimated Submeter Electric Rent may be adjusted by Landlord on the basis of either Landlord’s managing agentreasonable estimate of Tenant’s electric consumption and demand (if at any time the submeter(s) servicing the Demised Premises are inoperative) or Tenant’s actual consumption of and demand for electricity as recorded on the submeter(s) servicing the premises, and, in either case at reasonable times event, the Electric Rate or Cost per Kilowatt and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration ProceedingCost per Kilowatt Hour then in effect.
(Dv) If Landlord is required by any Requirement to discontinue furnishing electricity Subsequent to the Premises end of each calendar year during the term of this lease, or more frequently if Landlord shall elect, Landlord shall submit to Tenant a statement of the Electric Submeter Rent for such year or shorter period together with the components thereof, as contemplated hereby, then set forth in clause (i) of this Lease shall continue in full force and effect and paragraph 6.03 (“Submetered Electric Statement”). To the extent that the Estimated Submeter Electric Rent paid by Tenant for the period covered by the Submetered Electric Statement shall be unaffected therebyless than the Submeter Electric Rent as set forth on such Submeter Electric Statement, except that from and Tenant shall pay Landlord the difference within 30 days after receipt of the effective date Submeter Electric Statement. If the Estimated Submeter Electric Rent paid by Tenant for the period covered by the Submeter Electric Statement shall be greater than the Submeter Electric Rent as set forth on the Submeter Electric Statement, such difference shall be credited against the next required payment(s) of any such Requirementfixed rent or additional rent. If no Estimated Submeter Electric Rent payment(s) shall thereafter be due, (x) Landlord shall not be obligated pay such difference to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5Tenant.
(Evi) If Landlord discontinues For any period during which the submeter(s) servicing the premises are inoperative, the Submeter Electric Rent shall be determined by Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use based upon its reasonable estimate of Tenant’s diligent efforts to obtain electricity actual consumption of and demand for electricity, based upon prior invoices, and the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that Electric Rate or Cost per Kilowatt and Cost per Kilowatt Hour then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Companyeffect.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Lease (Vision Sciences Inc /De/)
Submetering. In the event that Owner shall furnish electricity to Tenant on a “submetering basis” Owner shall, at Owner’s sole cost and expense, install a meter or meters (A) Subject collectively, the “Submeter”), at a location designated by Owner, connections from the risers and/or circuits servicing the demised premises to the provisions Submeter and perform all other work necessary for the furnishing of electric current by Owner to the demised premises in the manner provided for in this Section 5.3, Landlord shall measure subdivision (1). If and so long as electric current is supplied by Owner to the demised premises to service Tenant’s demand office equipment and the machinery and mechanical equipment for and consumption of electricity in the Premises using a submeter that isair conditioning units utilized by Tenant, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Termif any, Tenant performs Alterations that require modifications to the aforesaid submeter will pay Owner or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at TenantOwner’s cost, as part of the applicable Alteration.
(B) Tenant shall pay to Landlorddesignated agent, as additional rentrent for such service, an the amounts, as determined by the Submeter, for the purpose of measuring Tenant’s consumption and demand. In the event said air conditioning units are used by other tenants of the Building, the electric charges for such units shall be allocated by Owner proportionately, on the basis of the respective amount of rentable square feet occupied by such tenants, including Tenant. The additional rent payable by Tenant pursuant to this subdivision (1), shall be computed in the same manner as that for computation of Owner’s Cost, as applied to the demised premises, plus a fee (the “Overhead Charge”) equal to eight (8%) percent of such charge to Owner, representing administrative/overhead costs to Owner. The amounts computed from the Submeter together with the Overhead Charge, are herein collectively called the “Electricity Additional Rent”, and such amounts computed from the Submeter shall be binding and conclusive on Tenant absent manifest error. If the Submeter should fail to properly register or operate at any time during the term of this lease for any reason whatsoever, Owner may estimate the Electricity Additional Rent, and when the Submeter is again properly operative, an appropriate reconciliation shall be made, by Tenant paying any deficiency to Owner within ten (10) equal days after demand therefor, or by Owner crediting Tenant with the amount of any overpayment, as the case may be. Owner, at its option, may from time to time, increase the Electricity Additional Rent based upon any increase in Owner’s Cost (and only to the extent of such increase). The periods to be used for the aforesaid computation shall be as Owner, in its sole discretion, may from time to time elect. Where more than one hundred seven meter measures the electric service to Tenant (107%) percent including such electric energy as is consumed in connection with the operation of the sum of Landlordventilation and air conditioning equipment servicing the demised premises), the electric service rendered through each meter may be computed and billed at Owner’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowattoption, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing periodseparately as above set forth, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice cumulatively. Bills for the Electricity Additional Rent (“Bills”) shall be rendered to Tenant at such time as Owner may elect. Owner and Tenant agree, that the Submeter might be installed subsequent to the Commencement Date. In such event, Owner, at Owner’s sole option, may either (x) estimate the Electricity Additional Rent payable by Tenant for the period commencing on the Commencement Date and ending on the Occupancy Reading Date (hereinafter defined), and Tenant shall pay to Owner, within ten (10) days after demand therefor, the amount set forth on Owner’s estimate and, after rendition of a subsequent Owner’s Statement, an appropriate reconciliation shall be made for any deficiency owed by Tenant, or any overage paid by Tenant, or (y) render a Owner’s Statement to Tenant, after a reading of the installed Submeter is made (said date upon which the Submeter is read, being herein called the “Occupancy Reading Date”) on or about the date upon which Tenant shall have commenced normal business operations in the demised premises, and the amount calculated from time the Submeter on the Occupancy Reading Date shall be determined on a per diem basis and then multiplied by the number of days from the Commencement Date through the Occupancy Reading Date to time (but no less frequently than quarter-annually). arrive at the amount due for said period, and Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost basis of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain Submeter reading within ten (10) days after rendition of Owner’s Statement detailing such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Companycomputation.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Office Lease (Bankrate, Inc.)
Submetering. (A) Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for and consumption of electricity in install a meter or meters (collectively, the Premises using a submeter that is, or submeters that are, installed and maintained “Submeter”) at locations designated by Landlord. If and so long as electric current is supplied by Landlord shall pay to the cost of installing such submeter Premises or submeters. If, at any time during other Tenant controlled areas to service Tenant’s equipment and the TermHVAC units and other appurtenant equipment contained therein or elsewhere in the Building, Tenant performs Alterations that require modifications will pay Landlord or Landlord’s designated agent, as Additional Rent for such service, the amounts, as determined by the Submeter, for the purpose of measuring Tenant’s consumption and demand. Such service shall be computed at the Electricity Cost, plus a fee (the “Overhead Charge”) equal to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation ten percent (10%) of such supplemental submeter or submeterscharge, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant shall pay representing administrative/overhead costs to Landlord, as additional rent, an amount (. The amounts computed from the Submeter together with the Overhead Charge are herein collectively called the “Electricity Additional Rent”) equal . Where more than one meter measures the electric service to one hundred seven Tenant (107%) percent including such electric energy as is consumed in connection with the operation of the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand KilowattHVAC units, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for and/or other appurtenant equipment servicing the Premises), and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, electric service rendered through each meter may be computed and billed separately as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice above set forth. Bills for the Electricity Additional Rent (the “Bills”) shall be rendered to Tenant at such time as Landlord may elect. In the event that such Bills are not paid within five (5) days after the same are rendered, Landlord may, upon five (5) days’ notice, discontinue the service of electric current to the Premises without releasing Tenant from any liability under this Lease and without Landlord or Electrical Provider incurring any liability for any damage or loss sustained by Tenant as the result of such discontinuance. If any tax is imposed upon Lxxxxxxx’s receipts from the sale or resale of electric current to Tenant by any Federal, state or municipal authority, Txxxxx agrees that, unless prohibited by law, Txxxxx’s Percentage of such taxes shall be passed on to, and included in the bill of, and paid by Tenant to Landlord as Additional Rent. Landlord shall have the right from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord survey Txxxxx’s electrical consumption and deliver revised Bills based on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rentsurvey, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and which shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) paid by Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Companytime and manner set forth herein.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Submetering. Landlord shall, at Landlord's sole cost and expense (A) Subject to the provisions ----------- extent not already in place, install a meter or meters (collectively, the "Submeter")), at a location designated by Landlord, connections from the risers and/or circuits servicing the Demised Premises to the Submeter and perform all other work necessary for the furnishing of this Section 5.3, electric current by Landlord shall measure Tenant’s demand for and consumption of electricity to the Demised Premises in the manner provided for in this subdivision. If and so long as electric current is supplied by Landlord to the Demised Premises using to service Tenant's office equipment and the machinery and mechanical equipment for the air conditioning units utilized by Tenant, if any, Tenant will pay Landlord or Landlord's designated agent, as additional rent for such service, the amounts, as determined by the Submeter, for the purpose of measuring Tenant's consumption and demand. In the event said air conditioning units are used by other tenants of the building, the electric charges for such units shall be allocated by Landlord proportionately, on the basis of the respective amount of rentable square feet occupied by such tenants, including Tenant. Tenant shall not be charged for electric charges for such units during times in which other tenants have requested air-conditioning on weekends and outside regular business hours. The additional rent payable by Tenant pursuant to this subdivision 1, shall be computed in the same manner as that for computation of Landlord Cost, as applied to the Demised Premises, plus a submeter that isfee (the "Overhead Charge") equal to six percent (6%) of such charge to Landlord, or submeters that are, installed and maintained by representing administrative/overhead costs to Landlord. Landlord The amounts computed from the Submeter together with the Overhead Charge, are herein collectively called the "Electricity Additional Rent", and such amounts computed from the Submeter shall pay be binding and conclusive on Tenant. If the cost of installing such submeter Submeter should fail to properly register or submeters. If, operate at any time during the Termterm of this lease for any reason whatsoever, Landlord may estimate the Electricity Additional Rent, and when the Submeter is again properly operative, an appropriate reconciliation shall be made, by Tenant performs Alterations paying any deficiency to Landlord within ten (10) days after demand therefor, or by Landlord crediting Tenant with the amount of any overpayment, as the case may be. Landlord, at its option, may from time to time, increase the Electricity Additional Rent based upon, among other things, any increase in Landlord's Cost. The periods to be used for the aforesaid computation shall be as Landlord, in its sole discretion, may from time to time elect. Where more than one meter measures the electric service to Tenant (including such electric energy as is consumed in connection with the operation of the ventilation and air conditioning equipment servicing the Demised Premises), the electric service rendered through each meter may be computed and billed at Landlord's option, separately as above set forth, or cumulatively. Bills for the Electricity Additional Rent (the "Bills") shall be rendered to Tenant at such time as Landlord may elect. Landlord and Tenant agree, that require modifications the Submeter might be installed subsequent to the aforesaid submeter or submeters date (the "Initial Occupancy Date") that Landlord installsTenant, or that require a supplemental submeter anyone (including, without limitation, any contractors or supplemental submetersother workmen) claiming under or through Tenant first enters the Demised Premises. In such event, then Tenant shall perform such modification, or the installation of such supplemental submeter or submetersLandlord, at Tenant’s costLandlord's sole option, as part of may either (x) estimate the applicable Alteration.
Electricity Additional Rent payable by Tenant for the period commencing on the Initial Occupancy Date and ending on the Occupancy Reading Date (B) hereinafter defined), and Tenant shall pay to Landlord, as additional rentwithin ten (10) days after demand therefor, the amount set forth on Landlord's estimate and, after rendition of a subsequent Landlord's Statement, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained appropriate reconciliation shall be made for any deficiency owed by multiplying (x) the Average Cost per Peak Demand KilowattTenant, or any overage paid by Tenant or (y) render a Landlord's Statement to Tenant, after a reading of the installed Submeter is made (said date upon which the Submeter is read, being herein called the "Occupancy Reading Date") on or about the date upon which Tenant shall have commenced normal business operations in the Demised Premises, and the amount calculated from the Submeter on the Occupancy Reading Date shall be determined on a per them basis and then multiplied by the number of kilowatts that constituted days from the peak demand Initial Occupancy Date through the Occupancy Reading Date to arrive at the amount due for electricity in the Premises for the applicable billing said period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). and Tenant shall pay the Electricity Additional Rent on the basis of such Submeter reading within ten (10) days after rendition of Landlord's Statement detailing such computation. If any tax, exclusive of federal, state or city income tax payable by Landlord, is imposed upon Landlord's receipts from the sale or resale of electric current to Tenant by any federal, state or municipal authority, Tenant agrees that, unless prohibited by law, Tenant's Proportionate Share (as said term is defined in Article 12 hereof of such taxes shall be passed on to, and included in the xxxx of, and paid by Tenant to Landlord on or prior as additional rent. In the event the Submeter ceases to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rentoperate properly, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not cause such Submeter to be obligated to furnish electricity to the Premises, and (y) repaired within a reasonable time after receiving written notice from Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5that such Submeter is inoperative.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Submetering. (Ai) Subject Landlord may supply electricity to service the provisions of this Section 5.3Demised Premises on a submetered basis, Landlord shall measure Tenant’s demand for and consumption of electricity Tenant in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant event shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) an amount determined by applying the number Electric Rate or, at Landlord's election, the Cost per Kilowatt Hour and Cost per Kilowatt, to Tenant's consumption of kilowatts that constituted the peak and demand for electricity in within the Demised Premises for the applicable billing period, as registered recorded on the submeter or submeters for servicing the Demised Premises, and
and (2z) Landlord's administrative charge of 12% of the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by amount referred to in clause (y) above, if and to the number extent same is permitted by laws and requirements of kilowatt hours of electricity used public authorities (such combined sum being hereinafter called "Submeter Electric Rent"). Except as set forth in the Premises for foregoing clause (z), Landlord will not charge Tenant more than the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices Electric Rate or, at Landlord’s option's election, the Cost per Xxxxxxxx and Cost per Kilowatt Hour for the electricity provided pursuant to this paragraph. If, pursuant to paragraph (a) hereof, Landlord shall have elected to supply electricity to the Demised Premises in accordance with this paragraph, the fixed rent shall be decreased by the Electric Rent. At Landlord's request, Xxxxxx agrees to execute a supplementary agreement modifying this lease to reflect the changes in the fixed rent resulting from such election.
(ii) Where more than one submeter measures the electric service to Tenant, the electric service rendered through each submeter shall be computed and billed separately in accordance with the provisions hereinabove set forth.
(iii) Tenant shall pay to Landlord, on account of the Submeter Electric Rent payable pursuant to this Section 21.03, the annual sum of $1.50 per square foot of Rentable Area ("Estimated Submeter Electric Rent"), subject to the adjustments on the first day of each and every calendar month of the term (except that if the first day of the term is other than the first day of a calendar month, the first monthly installment, prorated to the end of said calendar month, shall be payable on the first day of the first full calendar month).
(iv) From time to time during the term, the Estimated Submeter Electric Rent may be adjusted by Landlord on the basis of either Landlord's reasonable estimate of Tenant's electric consumption and demand (if at any time the offices submeter(s) servicing the Demised Premises are inoperative) or Tenant's actual consumption of Landlord’s managing agentand demand for electricity as recorded on the submeter(s) servicing the Demised Premises, and, in either case at reasonable times event, the Electric Rate or Cost per Kilowatt and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration ProceedingCost per Kilowatt Hour then in effect.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Submetering. Landlord shall, at Landlord's sole expense, install a meter (Aas hereinafter defined) Subject at a location designated by Landlord, connections from the riser servicing the Demised Premises to said meter and perform all other work necessary for the furnishing of electric current by Landlord in the manner provided for in this Paragraph A. If and so long as electric current is supplied by Landlord to the provisions of this Section 5.3Demised Premises to service Tenant's office equipment and the air conditioning units therein contained, Landlord shall measure Tenant’s demand for and consumption of electricity in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Termif any, Tenant performs Alterations that require modifications to the aforesaid submeter will pay Landlord or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant shall pay to Landlord's designated agent, as additional rentrent for such service, an amount the amounts, (hereinafter collectively called the “"Electricity Additional Rent”"), as determined by a meter or submeter (the "Submeter") installed, by Landlord at Landlord's cost, for the purpose of measuring such consumption. The readings from the Submeter shall then be used to compute the Electricity Additional Rent. Such service shall be computed at the rates at the beginning of the scale for any given bill xxxiod specified in the same service classification at which Landlord purchases electric current for the entire Building, plus a fee (the "Overhead Charge") equal to one hundred seven eight (1078%) percent of such charge to Landlord, representing administrative/overhead costs to Landlord. The Overhead Charge shall be payable as Electricity Additional Rent as herein provided. Landlord, at its option, may from time to time, increase the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand KilowattElectricity Additional Rent based upon among other things, by (y) the number of kilowatts that constituted the peak demand for electricity increases in the Premises average cost per kilowatt hour and kilowatt demand to Landlord of purchasing electricity for the applicable billing Building, and such other factors, such as, without limitation, fuel adjustment charges (as determined for each month of said period and not averaged), rate adjustment charges, sales tax, and or any other factors, used by the public utility company in computing its charges to Landlord; as applied to kilowatts of demand purchased by Landlord during a given period, as registered on the submeter or submeters . The periods to be used for the Premisesaforesaid computation shall be the bill xxxiods ending in February and August immediately preceding such change, and
(2) or such other period or periods as Landlord, in its sole discretion, may from time to time elect. Where more than one meter measures the product obtained by multiplying (x) electric service to Tenant, the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice electric service rendered through each meter may be computed above set forth. Bills for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant the "Bills") shall pay the Electricity Additional Rent to Landlord on or prior to the twenty (20th) day after the date that Landlord gives be rendered to Tenant each at such invoice. Tenant time as Landlord may elect and the amount, as computed from the meter, together with the Overhead Charge, shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for be the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Office Lease (PLD Telekom Inc)
Submetering. (A) Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s 's demand for and consumption of electricity in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Such submeter or submeters that Landlord installs shall have the capacity to measure (i) Tenant's electrical demand and consumption in the Premises on a totalized basis, and (ii) Tenant's peak demand on a coincidental basis. Such submeter or submeters shall not measure electricity for any Building Systems including, without limitation, the HVAC Systems. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant Landlord shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s costand Tenant shall reimburse Landlord for Landlord's Out-of-Pocket Costs therefor within twenty (20) days following receipt of Landlord's invoice therefor, as part of together with reasonable supporting documentation for the applicable Alterationcharges set forth therein.
(B) Tenant shall pay to Landlord, as additional rent, an amount (the “"Electricity Additional Rent”") equal to one hundred seven three percent (107103%) percent of the sum of Landlord’s actual cost pursuant to the following formulaof:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand KilowattKilowatt Hour, by (y) the number of kilowatts that constituted the peak demand for kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt HourPeak Demand Kilowatt, by (y) the number of kilowatt hours of electricity used in kilowatts that the Premises demanded at the time that coincides with the Building's peak demand for electricity for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty thirtieth (20th30th) day after the date that Landlord gives to Tenant each such invoiceinvoice accompanied by a reasonably detailed statement showing Landlord's calculation of the Electricity Additional Rent. Tenant shall not have the right to object to Landlord’s 's calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth two hundred seventieth (60th270th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s 's calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s 's submeter readings and Landlord’s 's calculation of the Electricity Additional Rent, at Landlord’s 's offices or, at Landlord’s 's option, at the offices of Landlord’s 's managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If a submeter measuring Tenant's electrical demand and consumption in the Premises has not been installed in the Premises, or the submeters measuring Tenant's electrical demand and consumption in the Premises have not been installed in the Premises, in either case on or prior to the date hereof, then Landlord is required by any Requirement shall install such submeter or such submeters promptly after the Pre-Delivery Work Substantial Completion Date. Landlord and Tenant shall cooperate with each other in good faith to discontinue furnishing electricity coordinate the installation of such submeter or such submeters. Landlord, in installing such submeter or such submeters, shall have the right to interrupt electrical service to the Premises as contemplated herebytemporarily and in accordance with good construction practice, then this Lease shall continue in full force and effect and shall be unaffected therebysubject to Article 10 hereof, except that from and after the effective date of any such Requirement, (x) provided Landlord shall not be obligated uses commercially reasonable efforts to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5minimize interference with Tenant's business.
(E) If Landlord discontinues Landlord’s furnishing electricity Subject to the Premises pursuant terms of this Section 5.3(E), if at any time during the Term, a submeter or submeters are not in place to a Requirementmeasure the electrical service to the Premises, then Tenant shall use pay to Landlord, on account of Tenant’s diligent efforts 's consumption of and demand for electricity in the Premises, an amount equal to obtain electricity One and 00/100 Dollars ($1.00) per annum per square foot of Rentable Area in the Premises, on a monthly basis in arrears, during such period (with the understanding that such amount of One and 00/100 Dollars ($1.00) shall be increased on each anniversary of the Pre-Delivery Work Substantial Completion Date to reflect the percentage increase, if any, in the Consumer Price Index from the Consumer Price Index that is in effect on the Pre-Delivery Work Substantial Completion Date). Landlord shall give Tenant an invoice for the Premises directly aforesaid fee from the Utility Companytime to time. Tenant shall pay directly the aforesaid fee to Landlord on or prior to the Utility Company thirtieth (30th) day after the cost of date that Landlord gives each such electricityinvoice to Tenant. Tenant shall have Notwithstanding anything to the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contrary contained in this Section 5.5 Lease, no Rental shall permit be payable by Tenant pursuant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenantthis Article 5 prior to, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity or with respect to the Premises as contemplated by this Section 5.5 (to period preceding, the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility CompanyCommencement Date.
Appears in 1 contract
Samples: Lease (Clear Secure, Inc.)
Submetering. Landlord shall, at Landlord's sole cost and expense, install a meter or meters (A) Subject collectively, the "Submeter"), at a location designated by Landlord, connections from the risers and/or circuits servicing the demised premises to the provisions Submeter and perform all other work necessary for the furnishing of electric current by Landlord to the demised premises in the manner provided for in this Subdivision 1. The Landlord hereby warrants that as of the date of this Section 5.3lease, it is legal to install a submeter as stated within this lease. If and so long as electric current is supplied by Landlord to the demised premises to service Tenant's office equipment and the machinery and mechanical equipment for the air-conditioning units utilized by Tenant, if any, Tenant will pay Landlord or Landlord's designated agent, as additional rent for such service the amounts, as determined by the Submeter, for the purpose of measuring Tenant's consumption and demand. The additional rent payable by Tenant pursuant to this Subdivision 1, shall measure Tenant’s demand for and consumption of electricity be computed in the Premises using a submeter same manner as that isfor computation of Landlord's Cost, or submeters that are, installed and maintained by Landlord. Landlord shall pay as applied to the demised premises plus an amount equal to ten (10) percent of the cost of installing electricity for administrative costs. The amounts computed from the Submeter together with the Overhead Charge, are herein collectively called the "Electricity Additional Rent", and such submeter amounts computed from the Submeter shall be binding and conclusive on Tenant unless Tenant reasonably disputes the same. If the Submeter should fail to properly register or submeters. If, operate at any time during the Termterm of this lease for any reason whatsoever, or if Landlord shall not read the Submeter at the end of each month, Landlord shall reasonably estimate the Electricity Additional Rent based upon an ERIF of $2.50 per rentable square foot annual figure, and when the submeter is again properly operative or read, an appropriate reconciliation shall be made quarterly, by Tenant performs Alterations that require modifications paying any deficiency to Landlord within thirty (30) days after receipt of written notice, or by Landlord crediting Tenant with the amount of any overpayment, as the case may be. Landlord, at its option, may from time to time, increase the Electricity Additional Rent based upon any increase in the rates charged to Landlord from the Utility. The periods to be used for the aforesaid computation shall be the immediately preceding month for which submeter readings are available unless the parties agree to the aforesaid submeter or submeters that Landlord installscontrary. Where more than one meter measures the electric service to Tenant, the electric service rendered through each meter may be computed and billed at Landlord's option, separately as above set forth, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice cumulatively. Bills for the Electricity Additional Rent (the "Bills") shall be rendered to Tenant at such time as Landlord may elect. If any tax is imposed upon Landlord's receipts from time the sale or resale of electric current to time (but no less frequently than quarter-annually). Tenant by any Federal, State or municipal authority, Tenant agrees that, unless prohibited by law, Tenant's Percentage of such taxes shall pay be passed on to, and included in the Electricity Additional Rent xxxx of, and paid by Tenant to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceedingadditional rent.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Office Lease (Arista Investors Corp)
Submetering. Landlord shall, at Tenant's sole cost and expense pursuant to Article 52, install and maintain a meter or meters (Acollectively, the "Submeter") Subject at a location designated by Landlord to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for and 's consumption of electricity in the Demised Premises using a submeter that is, only. If and so long as electric current is supplied by Landlord to the Demised Premises or submeters that are, installed other Tenant controlled areas to service Tenant's equipment and maintained by Landlord. Landlord shall pay the cost of installing such submeter air conditioning units and other appurtenant equipment contained therein or submeters. If, at any time during elsewhere in the TermBuilding, Tenant performs Alterations that require modifications to the aforesaid submeter will pay Landlord or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant shall pay to Landlord's designated agent, as additional rentrent for such service, an amount the amounts applying to Tenant's measured electrical demand and consumption (as determined by such Submeter) Landlord's Cost, plus a fee (the “Electricity Additional Rent”"Overhead Charge") equal to one hundred seven nine (1079%) percent of such charge to Landlord, representing administrative/overhead costs to Landlord. The amounts computed from the sum Submeter together with the Overhead Charge are herein collectively called the "Electricity Additional Rent". Landlord may from time to time, increase the Electricity Additional Rent based upon any increase in Landlord's Cost. Where more than one meter measures the electric service to Tenant (including such electric energy as is consumed in connection with the operation of Landlord’s actual cost pursuant to the following formula:
(1) ventilation and air conditioning equipment servicing the product obtained by multiplying (x) Demised Premises), the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, electric service rendered through each meter may be computed and billed separately as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice above set forth. Bills for the Electricity Additional Rent (the "Bills") shall be rendered to Tenant at such time as Landlord may elect. In the event that such Bills are not paid within thirty (30) days after the same are rendered, Landlord may, after an additional thirty (30) days written notice and Tenant's failure to cure such default within such aggregate sixty (60) day period, discontinue the service of electric current to the Demised Premises without releasing Tenant from time any liability under this Lease and without Landlord or Electrical Providers incurring any liability for any damage or loss sustained by Tenant as the result of such discontinuance. If any tax is imposed upon Landlord's receipts from the sale or resale of electric current to time (but no less frequently than quarter-annually). Tenant by any Federal, state or municipal authority, Tenant agrees that, unless prohibited by law, Tenant's Percentage of such taxes shall pay be passed on to, and included in the Electricity Additional Rent xxxx of, and paid by Tenant to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceedingadditional rent.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Office Lease (Intira Corp)
Submetering. (A) Subject to Using the provisions method of supplying electricity described in this Section 5.3SUBSECTION 49.2.1, Landlord shall measure Tenant’s demand furnish electricity to the demised premises on a submetered basis and Tenant covenants and agrees to purchase the same from Landlord, Landlord's designated agent, or an Alternate Supplier, at charges, terms and rates set, from time to time, during the term of this lease by Landlord, which shall not be higher than either (i) those specified in the service classification then in effect pursuant to which Landlord then purchased electric current from the Utility, together with a surcharge in the amount of ten (10%) percent of such charges in order to reimburse Landlord for its administrative expenses in connection with such submetering, or (ii) if Landlord uses an Alternate Supplier, the per kilowatt hour rate and other charges pursuant to which Landlord purchases electricity from the Alternate Supplier, together with a surcharge in the amount of ten (10%) percent of such charges in order to reimburse Landlord for its administrative expenses in connection with such submetering. In either event, such charges shall be increased in the same percentage as any percentage increase in the billing to Landlord for electricity, for the entire Building, by reason of increase in Landlord's electric rates, charges, fuel adjustment or service classifications, or by taxes or charges of any kind imposed thereon, or for any other such reason. Any such percentage increase in Landlord's billing for electricity shall be computed by the application of the average consumption (energy and demand) of electricity for the entire Building for the twelve (12) full months immediately prior to the rate change, other change, or any changed methods of or rules on billing for same, on a consistent basis to the new rate and to the service classification then in effect. If the average consumption of electricity for the entire Building for such prior twelve (12) months cannot reasonably be applied to and used with respect to changed methods of or rules on billing, then the percentage increase shall be computed by the use of the average consumption (energy and demand) for the entire Building for the first three (3) months after such change, projected to a full twelve (12) months and that same consumption, so projected, shall be applied to the service classification then in effect or the rate charged by the Alternate Supplier, if any. Where more than one meter measures the service of Tenant in the Premises using a submeter Building, the service rendered through each meter may be computed and billed separately in accordance with the provisions hereof. If such bills are not paid within ten (10) days, Landlord may, without further notice, discontinue the service of electric current to the demised premises without releasing Tenant from any liability for any damage or loss sustained by Tenant by such discontinuance of service; provided, however, that is, or submeters that are, installed and maintained by Landlord. if Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications discontinue furnishing electric service to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) demised premises pursuant to this sentence and Tenant shall pay to LandlordLandlord such delinquent amounts, as additional rentthen, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant unless Landlord shall have terminated this lease, Landlord shall resume providing such electrical service to the following formula:
(1demised premises. If at any time any submeter(s) the product obtained which measure electricity to be paid by multiplying (x) the Average Cost per Peak Demand KilowattTenant hereunder shall not be properly functioning, by (y) the number of kilowatts that constituted the peak demand or shall not yet have been installed, then for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). such period Tenant shall pay the Electricity Additional Rent to Landlord for such electricity service on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, rent inclusion basis as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, provided in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration ProceedingSUBSECTION 49.2.2.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Lease Agreement (Hanover Capital Mortgage Holdings Inc)
Submetering. (A) Subject During any period in which Landlord furnishes electricity to the provisions of Premises in accordance with this Section 5.36.1.1.2 by submetering, Landlord Tenant shall measure Tenant’s demand for and consumption of purchase from Landlord, or from a meter company designated by Landlord, all electricity consumed in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) Tenant shall pay to LandlordLandlord or the meter company, as additional rentAdditional Rent, an amount the amounts for electricity consumed (the “"Electricity Additional Rent”") equal to one hundred seven determined by a meter or meters (107%measuring both consumption and demand) percent of and related equipment installed (or, if existing, retrofitted) by Landlord in accordance with Landlord's specifications at Landlord's expense. Tenant, at its expense, shall keep the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity meter and related equipment in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually)good working order and repair. Tenant shall pay purchase the Electricity Additional Rent to electricity from Landlord on or prior the meter company at the rate ("Landlord's Rate") paid by Landlord to the twenty utility company furnishing electricity to the Premises plus an amount equal to five percent (20th5%) day after of the date that charge therefor for Landlord's overhead and supervision. Bills therefor shall be rendered at such times as Landlord gives to Tenant each such invoice. Tenant shall may elect, but not have more frequently than monthly, and the right to object to Landlord’s calculation amount of the Electricity Additional Rent unless shall be deemed to be Additional Rent payable by Tenant gives within fifteen (15) days after such bxxx is rendered. In determining Landlord's Rate, Landlord notice may take into account rates (including time of any such objection on or prior day and seasonal rate differentials), changes in the method of delivery of electric current to the sixtieth Building, kilowatt hours of energy charges, kilowatts of demand charges, fuel adjustment charges (60th) day after as determined for each month of such period and not averaged), rate adjustment charges, transfer adjustment charges, utility taxes, sales taxes and/or any other factors used by the date that utility company in computing its charges to Landlord gives Tenant or applied to the applicable invoice for kilowatt hours of energy and the Electricity Additional Rentkilowatts of demand purchased by Landlord during a given billing period. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant In no event shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing for submetered electricity supplied to the Premises as contemplated hereby, then this Lease be less than Landlord's actual cost to purchase and distribute such electricity. If Tenant shall continue consume electricity prior to the installation or retrofitting of meters in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) then Tenant shall not be obligated agrees to pay to Landlord the charges for electricity at a rate equal to the product of the Initial Electric Inclusion Factor multiplied by the number of square feet of Rentable Area per annum until such time as described in this Article 5.
said meters are installed. Landlord shall promptly install or retrofit the meters which will serve the Premises. The "Initial Electric Inclusion Factor" shall, as of any given date, be equal to the product of Three and 50/100 Dollars (E$3.50) multiplied by a fraction, the numerator of which is Landlord's actual average cost per unit of electrical power as of such date, and the denominator of which is Landlord's actual average cost per unit of electrical power as of the Lease Date. If any Tax is imposed upon the Electricity Additional Rent received by Landlord discontinues Landlord’s furnishing from the sale or resale of electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expenseTenant agrees that, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until law, Tenant obtains electric service directly from the Utility Companyshall reimburse such taxes to Landlord.
Appears in 1 contract
Submetering. (A) Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for and consumption of electricity in install a meter or meters (collectively, the Premises using "Submeter") at a submeter that is, location or submeters that are, installed and maintained locations designated by Landlord. Landlord shall pay , the cost of installing which shall be shared equally by Landlord and Tenant. The cost of the Submeter shall be the actual out-of-pocket cost therefor, evidenced by a photocopy of the xxxx therefor delivered to Tenant upon request, not to exceed the building standard charge therefor which is $5,000 per submeter. Tenants portion of such submeter cost shall be paid to Landlord within fifteen (15) days following demand therefor. If and so long as electric current is supplied by Landlord to the demised premises to service Tenant's office equipment and the machinery and mechanical equipment for supplemental air conditioning units utilized by Tenant, if any, Tenant will pay Landlord or submetersLandlord's designated agent, as additional rent for such service, the amounts, as determined by the Submeter, for the purpose of measuring Tenant's consumption and demand. IfIn the event said air conditioning units are used by other tenants of the building, the electric charges for such units shall be allocated by Landlord proportionately, on the basis of the respective amount of rentable square feet occupied by such tenants, including Tenant. The additional rent payable by Tenant pursuant to this subdivision 1, shall be computed in the same manner as that for computation of Landlord Cost, as applied to the demised premises, plus a fee (the "Overhead Charge") equal to six (6%) percent of such charge to Landlord, representing administrative/overhead costs to Landlord. The amounts computed from the Submeter together with the Overhead Charge, are herein collectively called the "Electricity Additional Rent", and such amounts computed from the Submeter shall be binding and conclusive on Tenant. If the Submeter should fail to properly register or operate at any time during the Termterm of this lease for any reason whatsoever, Landlord may reasonably estimate the Electricity Additional Rent (on the basis of Tenant's prior consumption, if such information is available for at least one (1) year), and when the Submeter is again properly operative, an appropriate reconciliation shall be made, by Tenant performs Alterations paying any deficiency to Landlord within fifteen (15) days after demand therefor, or by Landlord crediting Tenant with the amount of any overpayment, as the case may be. Landlord, at its option, may from time to time, increase the Electricity Additional Rent based upon an increase in Landlord's Cost. The periods to be used for the aforesaid computation shall be reasonably selected by Landlord to approximate Tenant's actual usage. Where more than one meter measures the electric service to Tenant (including such electric energy as is consumed in connection with the operation of the ventilation and air conditioning equipment servicing the demised premises), the electric service rendered through each meter shall be computed and billed cumulatively. Bills for the Electricity Additional Rent (the "Bills") shall be rendered to Tenant at such time as Landlord may elect, but not more frequently than monthly. The xxxx rendered by the Utility for such period will be made available for review by Tenant in Landlords' offices during business hours, upon request to Landlord. Landlord and Tenant agree, that require modifications the Submeter might be installed subsequent to the aforesaid submeter or submeters date (the "Initial Occupancy Date") that Landlord installsTenant, or that require a supplemental submeter anyone (including, without limitation, any contractors or supplemental submetersother workmen) claiming under or through Tenant first enters the demised premises. In such event, then Landlord shall reasonably estimate the Electricity Additional Rent payable by Tenant shall perform such modification, or for the period prior to the installation of such supplemental submeter or submetersthe Submeter, at Tenant’s cost, as part which estimate may be based upon a later reading of the applicable Alteration.
(B) Submeter during the initial construction period, and Tenant shall pay to Landlord, as additional rentwithin fifteen (15) days after demand therefor, the amount set forth on Landlord's estimate and, after rendition of a subsequent Landlord's Statement, an amount (the “Electricity Additional Rent”) equal to one hundred seven (107%) percent of the sum of Landlord’s actual cost pursuant to the following formula:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty (20th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth (60th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and appropriate reconciliation shall be unaffected thereby, except that from and after the effective date of made for any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. deficiency owed by Tenant, at or any overage paid by Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Submetering. (A) Subject to the provisions of this Section 5.3, Landlord shall measure Tenant’s demand for and consumption of electricity in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord, which submeter(s) shall be installed an operational on the Commencement Date. Landlord shall pay the cost of installing such submeter or submeters, and for any required maintenance and/or replacement thereof. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant Landlord shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s costand Tenant shall reimburse Landlord for such reasonable Out-of-Pocket Costs, as part of the applicable Alterationadditional rent, within thirty (30) days after Landlord gives Tenant an invoice therefor.
(B) Tenant shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven five percent (107105%) percent of the sum of Landlord’s actual cost pursuant to the following formulaof:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty thirtieth (20th30th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth one hundred eightieth (60th180th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity a submeter measuring Tenant’s electrical demand and consumption in the Premises has not been installed in the Premises, or the submeters measuring Tenant’s electrical demand and consumption in the Premises have not been installed in the Premises, in either case on or prior to the Premises as contemplated herebydate hereof, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to order such submeter or such submeters promptly after the Premisesdate hereof, and (y) Landlord shall install such submeter or such submeters promptly prior to the Commencement Date. Landlord and Tenant shall cooperate with each other in good faith to coordinate the installation of such submeter or such submeters with Tenant’s performance of the Initial Alterations. Landlord, in installing such submeter or such submeters, shall have the right to interrupt electrical service to the Premises temporarily and in accordance with good construction practice. Landlord shall install a submeter in the Premises as part of Landlord’s Premises Work, at Landlord’s sole cost and same shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5count against Landlord’s Contribution.
(E) If Landlord discontinues Subject to the terms of this Section 5.3(E), if, prior to Landlord’s furnishing electricity installing a submeter or the submeters in the Premises or prior to the Premises pursuant to a Requirementdate that such submeter or submeters are operational, Tenant commences the performance of the Initial Alterations, then Tenant shall use Tenant’s diligent efforts pay to obtain Landlord, as additional rent, a fee for electricity service in an amount equal to the product obtained by multiplying (I) $0.0034, by (II) the number of square feet of Rentable Area in the Premises (or the portion thereof in which Tenant is performing the Initial Alterations), by (III) the number of days in the period commencing on the date that Tenant so commences the Initial Alterations and ending on the earlier of (a) the date immediately preceding the date that Tenant first occupies the Premises (or the applicable portion thereof) for the conduct of business, and (b) the date immediately preceding the date that the submeter for the Premises directly (or the applicable portion thereof) is operational or the submeters for the Premises (or the applicable portion thereof) are operational. Landlord shall give Tenant an invoice for the aforesaid fee from the Utility Companytime to time (but not less frequently than monthly). Tenant shall pay directly the aforesaid fee to Landlord on or prior to the Utility Company thirtieth (30th) day after the cost of date that Landlord gives each such electricity. Tenant shall have the right invoice to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Subject to the terms of this Section 5.3(F), if, prior to Landlord’s installing a submeter or submeters in the Premises or prior to the date that such submeter or submeters are operational, Tenant occupies all or any portion of the Premises for the conduct of business, then Tenant shall pay to Landlord, as additional rent, a fee for electricity service in an amount equal to the product obtained by multiplying (I) $0.0048 (which amount shall be increased on each anniversary of the Commencement Date to reflect the percentage increase, if any, in the Consumer Price Index from the Consumer Price Index that is in effect on Commencement Date), by (II) the number of square feet of Rentable Area in the Premises (or the portion thereof that Tenant is occupying for the conduct of business), by (III) the number of days in the period commencing on the date that Tenant occupies the Premises (or the applicable portion thereof) for the conduct of business and ending on the date immediately preceding the date that the submeter for the Premises or the applicable portion thereof is operational or that the submeters for the Premises or the applicable portion thereof are operational (such fee being referred to herein as the “Electricity Inclusion Charge”). Landlord shall give Tenant an invoice for the Electricity Inclusion Charge from time to time (but not discontinue furnishing electricity less frequently than monthly). Tenant shall pay the Electricity Inclusion Charge to Landlord on or prior to the thirtieth (30th) day after the date that Landlord gives each such invoice to Tenant. If (I) the monthly amount that Tenant would have paid to Landlord as the Electricity Additional Rent for the period that Tenant occupies the Premises as contemplated by this Section 5.5 (or the applicable portion thereof for the conduct of business prior to the extent permitted by date that the submeter is, or the submeters are, operational (as determined using the average monthly submeter readings for the period of three (3) months after the date that the submeter is, or the submeters are, operational), exceeds (II) the Electricity Inclusion Charge for any particular period of one (1) month, then Tenant shall pay to Landlord an amount equal to such excess for each such month within thirty (30) days after Landlord gives to Tenant an invoice therefor. If (I) the Electricity Inclusion Charge for any particular period of one (1) month, exceeds (II) the monthly amount that Tenant would have paid to Landlord as the Electricity Additional Rent for the period that Tenant occupies the Premises or the applicable Requirementsportion thereof for the conduct of business prior to the date that the submeter is, or the submeters are, operational (as determined using the average monthly submeter readings for the period of three (3) until months after the date that the submeter is, or the submeters are, operational), then Landlord, at Landlord’s option, shall either (x) refund promptly to Tenant obtains electric service directly an amount equal to such excess for each such month, or (y) credit such excess for each such month against the monthly installments of Rental next becoming due and payable hereunder (together with interest on such excess calculated at the Base Rate from the Utility Companydate that Tenant is entitled to such credit). If Landlord gives Tenant such credit for such excess, and the Expiration Date occurs before the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date).
Appears in 1 contract
Samples: Lease Agreement (fuboTV Inc. /FL)
Submetering. (A) Subject to the provisions of this Section 5.35.4, if Landlord exercises the Submeter Conversion Right, then Landlord shall measure Tenant’s demand for and consumption of electricity in the Premises using a submeter that is, or submeters that are, installed and maintained by Landlord. Landlord shall pay the cost of installing such submeter or submeters. If, at any time during the Term, Tenant performs Alterations that require modifications to the aforesaid submeter or submeters that Landlord installs, or that require a supplemental submeter or supplemental submeters, then Tenant shall perform such modification, or the installation of such supplemental submeter or submeters, at Tenant’s cost, as part of the applicable Alteration.
(B) If Landlord exercises the Submeter Conversion Right, then Tenant shall pay to Landlord, as additional rent, an amount (the “Electricity Additional Rent”) equal to one hundred seven four percent (107104%) percent of the sum of Landlord’s actual cost pursuant to the following formulaof:
(1) the product obtained by multiplying (x) the Average Cost per Peak Demand Kilowatt, by (y) the number of kilowatts that constituted the peak demand for electricity in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises, and`
(2) the product obtained by multiplying (x) the Average Cost per Kilowatt Hour, by (y) the number of kilowatt hours of electricity used in the Premises for the applicable billing period, as registered on the submeter or submeters for the Premises.
(C) Landlord shall give Tenant an invoice for the Electricity Additional Rent from time to time (but no less frequently than quarter-annually). Tenant shall pay the Electricity Additional Rent to Landlord on or prior to the twenty thirtieth (20th30th) day after the date that Landlord gives to Tenant each such invoice. Tenant shall not have the right to object to Landlord’s calculation of the Electricity Additional Rent unless Tenant gives Landlord notice of any such objection on or prior to the sixtieth ninetieth (60th90th) day after the date that Landlord gives Tenant the applicable invoice for the Electricity Additional Rent. If Tenant gives Landlord a notice objecting to Landlord’s calculation of the Electricity Additional Rent, as aforesaid, then Tenant shall have the right to review Landlord’s submeter readings and Landlord’s calculation of the Electricity Additional Rent, at Landlord’s offices or, at Landlord’s option, at the offices of Landlord’s managing agent, in either case at reasonable times and on reasonable advance notice to Landlord. Either party shall have the right to submit a dispute regarding the Electricity Additional Rent to an Expedited Arbitration Proceeding.
(D) If Landlord is required by any Requirement to discontinue furnishing electricity to the Premises as contemplated hereby, then this Lease shall continue in full force and effect and shall be unaffected thereby, except that from and after the effective date of any such Requirement, (x) Landlord shall not be obligated to furnish electricity to the Premises, and (y) Tenant shall not be obligated to pay to Landlord the charges for electricity as described in this Article 5.
(E) If Landlord discontinues Landlord’s furnishing electricity to the Premises pursuant to a Requirement, then Tenant shall use Tenant’s diligent efforts to obtain electricity for the Premises directly from the Utility Company. Tenant shall pay directly to the Utility Company the cost of such electricity. Tenant shall have the right to use the electrical facilities that then exist in the Building to obtain such direct electric service (without Landlord having any liability or obligation to Tenant in connection therewith). Nothing contained in this Section 5.5 shall permit Tenant to use electrical capacity in the Building that exceeds the Base Electrical Capacity. Tenant, at Tenant’s expense, shall make any additional installations that are required for Tenant to obtain electricity from the Utility Company.
(F) Landlord shall not discontinue furnishing electricity to the Premises as contemplated by this Section 5.5 (to the extent permitted by applicable Requirements) until Tenant obtains electric service directly from the Utility Company.
Appears in 1 contract
Samples: Lease (Riverbed Technology, Inc.)
