TENANT’S PHASE SHARE Sample Clauses

The "Tenant’s Phase Share" clause defines the proportionate share of certain costs or responsibilities that a tenant must bear within a multi-tenant property or development phase. Typically, this share is calculated based on the tenant’s leased square footage relative to the total leasable area in the relevant phase of the property. For example, if a tenant occupies 10% of the total space in a phase, they would be responsible for 10% of the common area maintenance fees or other shared expenses for that phase. This clause ensures a fair and transparent allocation of costs among tenants, preventing disputes and clarifying each party’s financial obligations.