Common use of TENANT’S PROJECT SHARE Clause in Contracts

TENANT’S PROJECT SHARE. The term “Tenant’s Project Share” shall mean the percentage obtained by dividing the rentable square footage of the Leased Premises at the time of calculation by the rentable square footage of the Building and the Other Buildings at the time of calculation. Such percentage is currently 29.07%. In the event that any portion of the Project is sold by Landlord, or if new improvements are constructed on the Project, or if the rentable square footage of the Leased Premises, the Building, or the Other Buildings is otherwise changed (other than by mere re- measurement after the Initial Measurement of the Building D Leased Premises and the Initial Measurement of the Building), Tenant’s Project Share shall be recalculated to equal the percentage described in the first sentence of this paragraph, so that the aggregate Tenant’s Project Share of all tenant space in the Project shall equal 100% (calculated as if the Building and the Other Buildings were fully occupied). Landlord and Tenant agree that any mere re-measurement after the Initial Measurement of the Leased Premises and the Initial Measurement of the Building (as opposed to an actual physical change) shall not result in a change in rentable square footage.

Appears in 1 contract

Samples: Lease Agreement (Aruba Networks, Inc.)

AutoNDA by SimpleDocs

TENANT’S PROJECT SHARE. The term “Tenant’s Project Share” shall mean the percentage obtained by dividing the rentable square footage of the Leased Premises at the time of calculation by the rentable square footage of the Building and the Other Buildings (excluding Building D, Building G, and any other Building not yet constructed, unless and until each such Building is completely constructed and ready for occupancy) at the time of calculation. Such percentage is currently 29.0726.61%. In the event that any portion of the Project is sold by Landlord, or if new improvements are constructed on the ProjectProject (e.g., Building D, Building G, or other improvements), or if the rentable square footage of the Leased Premises, the Building, or the Other Buildings is Building E otherwise changed (other than by mere re- re-measurement after the Initial Measurement determination of the Building D Leased Premises and the Initial Measurement of the Buildingrentable square footage pursuant to Paragraph 2.1(b) below), Tenant’s Project Share shall be recalculated to equal the percentage described in the first sentence of this paragraph, so that the aggregate Tenant’s Project Share of all tenant space in the Project shall equal 100% (calculated as if the Building and the Other Buildings were fully occupied). Landlord and Tenant agree that any mere re-measurement after the Initial Measurement determination of the Leased Premises and the Initial Measurement of the Building rentable square footage pursuant to Paragraph 2.1(b) below (as opposed to an actual physical change) shall not result in a change in rentable square footage.

Appears in 1 contract

Samples: Lease Agreement (Palo Alto Networks Inc)

TENANT’S PROJECT SHARE. The term “Tenant’s Project Share” shall mean the percentage obtained by dividing the rentable square footage of the Leased Premises at the time of calculation by the rentable square footage of the Building Buildings and the Other Buildings (excluding Building D, Building G, and any other Building not yet constructed, unless and until each such Building is completely constructed and ready for occupancy) at the time of calculation. Such percentage is currently 29.0731.20%. In the event that any portion of the Project is sold by Landlord, or if new improvements are constructed on the ProjectProject (e.g., Building F and Amenities Building Building D, Building G, or other improvements), or if the rentable square footage of the Leased Premises, the BuildingBuildings, or the Other Buildings is otherwise changed (other than by mere re- re-measurement after the Initial Measurement determination of the Building D Leased Premises and the Initial Measurement of the Buildingrentable square footage pursuant to Paragraph 2.1(b) below), Tenant’s Project Share shall be recalculated to equal the percentage described in the first sentence of this paragraph, so that the aggregate Tenant’s Project Share of all tenant space in the Project shall equal 100% (calculated as if the Building Buildings and the Other Buildings were fully occupied). Landlord and Tenant agree that any mere re-measurement after the Initial Measurement determination of the Leased Premises and the Initial Measurement of the Building rentable square footage pursuant to Paragraph 2.1(b) below (as opposed to an actual physical change) shall not result in a change in rentable square footage.

Appears in 1 contract

Samples: Lease Agreement (Palo Alto Networks Inc)

AutoNDA by SimpleDocs

TENANT’S PROJECT SHARE. The term “Tenant’s Project Share” shall mean the percentage obtained by dividing the rentable square footage of the Leased Premises at the time of Building G calculation by the rentable square footage of the Building and the Other Buildings (excluding Building D and any other Building not yet constructed, unless and until each such Building is completely constructed and ready for occupancy) at the time of calculation. Such percentage is currently 29.07%22.15%1. In the event that any portion of the Project is sold by Landlord, or if new improvements are constructed on the ProjectProject (e.g., Building D or other improvements), or if the rentable square footage of the Leased Premises, the Building, or the Other Buildings is otherwise changed (other than by mere re- re-measurement after the Initial Measurement determination of the Building D Leased Premises and the Initial Measurement of the Buildingrentable square footage pursuant to Paragraph 2.1(b) below), Tenant’s Project Share shall be recalculated to equal the percentage described in the first sentence of this paragraph, so that the aggregate Tenant’s Project Share of all tenant space in the Project shall equal 100% (calculated as if the Building and the Other Buildings were fully occupied). Landlord and Tenant agree that any mere re-measurement after the Initial Measurement determination of the Leased Premises and the Initial Measurement of the Building rentable square footage pursuant to Paragraph 2.1(b) below (as opposed to an actual physical change) shall not result in a change in rentable square footage.

Appears in 1 contract

Samples: Lease Agreement (Palo Alto Networks Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!