Tenant's Adjusted Share Sample Clauses

Tenant's Adjusted Share. Tenant's Adjusted Share shall be equal to a fraction where the numerator is Tenant's Adjusted Rentable Square Feet (as defined below) and the denominator is the Adjusted Rentable Square Feet in the Building (as defined below). The Tenant's Adjusted Share shall be determined by Landlord each quarter of each calendar year utilizing the method described herein. It is stipulated that Tenant shall use the Building systems twenty-four (24) hours per day, three hundred sixty-five (365) days per year. First, Landlord, in its reasonable discretion, shall make a determination of the number of hours ("Tenant's Hours of Operation") that each of the tenants occupying the Building have utilized their respective space during the calendar year. Any space that is occupied for only a portion of a calendar quarter shall be prorated on the basis of the actual number of days in such calendar year. Second, Landlord shall assign each tenant in the Building an operations constant ("Tenant's Operating Constant") that is equal to a fraction where the numerator is the Tenant's Hours of Operation and the denominator is equal to two thousand eight hundred ten (2,810) hours ("Standard Operating Hours"). Third, Landlord shall adjust the rentable square feet allocated to each tenant (individually referred to as "Tenant's Adjusted Rentable Square Feet") in the Building by multiplying the Tenant's Operating Constant assigned to the tenant for that calendar year by the Tenant's Rentable Square Feet. Fourth, Landlord shall determine the adjusted rentable square feet in the Building ("Adjusted Rentable Square Feet in the Building") for that particular calendar year by adding up the Tenant's Adjusted Rentable Square Feet for each of the tenant's occupying space in the Building. Landlord shall have the right to further adjust the Tenant's Adjusted Rentable Square Feet in the event a tenant occupying the Building operates in such a manner that causes a disproportionate use of the utilities (and other services comprising the Variable Operating Expenses) by that tenant as compared to other tenants in the Building, resulting in a higher cost for such utilities (and other services comprising the Variable Operating Expenses) on a per-hour basis for such tenant's space. By way of illustration, such disproportionate use of the utilities (and other services comprising the Variable Operating Expenses) could be caused by uses including, but not limited to, more computers than would be used by a general of...
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Related to Tenant's Adjusted Share

  • Tenant’s Share The term “Tenant’s Share” shall mean the percentage obtained by dividing Tenant’s Gross Leasable Area by the Building Gross Leasable Area, which as of the Effective Date is the percentage identified in Section G of the Summary.

  • Sublease Rent Limitation Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.

  • Rental Adjustments 6.1 The Basic Annual Rent then in effect (and as previously increased pursuant to this Section 6.1) shall be increased each year by three percent (3%) on each annual anniversary of the Term Commencement Date for so long as this Lease continues in effect.

  • Rental Adjustment The lesser of (i) 2%, or (ii) 1.25 times the change in the Price Index, as described in Section 4.02.

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Common Area Operating Expenses Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share (as specified in Paragraph 1.6(b)) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions:

  • Operating Expense Limit The Fund’s maximum operating expense limits (each an “Operating Expense Limit”) in any year shall be that percentage of the average daily net assets of the Fund as set forth on Schedule A attached hereto and incorporated by this reference.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Landlord’s Option At any time within ten (10) days after Landlord's receipt of the notice specified in Section 14.2, Landlord may by notice to Tenant elect to (a) terminate this Lease as to the portion (including all) of the Premises that is specified in Tenant's notice, with a proportionate abatement in the Base Rent, (b) consent to the Sublease or Assignment, or (c) disapprove the Sublease or Assignment; Landlord shall not unreasonably withhold its consent to the Assignment or Sublease. Tenant shall pay as additional rent, Landlord's reasonable attorneys' fees incurred in connection with the review of any proposed Assignment or Sublease. Tenant agrees to pay Landlord fifty percent (50%) of the amount by which all sums payable to Tenant in connection with such Assignment or Sublease exceed the total of (a) Base Rent payable by Tenant to Landlord hereunder, (b) reasonable leasing commission incurred by Tenant in connection therewith, and (c) the cost of any Alterations reasonably incurred in connection therewith, and (d) advertisement costs. If Landlord consents to the Sublease or Assignment within such ten (10) day period, Tenant may thereafter within sixty (60) days after Landlord's consent enter into such Assignment or Sublease with such approved assignee or subtenant upon the terms and conditions set forth in the notice furnished by Tenant to Landlord pursuant to Section 14.2. No Assignment or Sublease shall be binding on Landlord until Tenant delivers an executed copy of such Assignment or Sublease to Landlord. Notwithstanding Section 14.3 or any other provision to the contrary, in the event Landlord exercises its recapture right under this Section 14.3, Tenant shall have the right to rescind its notice for request to sublease, assign or transfer within three (3) business days following receipt of Landlord's notice of recapture.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

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