Common use of Transfer Rent Clause in Contracts

Transfer Rent. If Tenant shall enter into a Transfer hereunder, Tenant shall pay to Landlord fifty percent (50%) of any “transfer premium” (as defined in this Article 14.9). In the event of a subletting, “transfer premium” shall mean all rent, additional rent or other consideration payable by such subtenant to Tenant or on behalf of Tenant in connection with the subletting in excess of the rent, additional rent and other sums payable by Tenant under this Lease during the term of the sublease on a per square foot basis if less than all of the Premises is subleased, less the reasonable costs actually incurred by Tenant to secure the sublease. In the event of any Transfer other than a subletting, “transfer premium” shall mean any consideration paid by the Transferee to Tenant in connection with such Transfer which Landlord reasonably determines is allocable to the leasehold value of this Lease, less the reasonable costs actually incurred by Tenant to secure the Transfer. If part of the transfer premium shall be payable by the Transferee or subtenant other than in cash, then Landlord’s share of such non-cash consideration shall be in such form as is reasonably satisfactory to Landlord. In the event of an assignment or sublet of this Lease, any exclusives and/or caps on Operating Costs set forth in this Lease favoring Tenant shall be deleted as of the date of such Transfer.

Transfer Rent. If Except for a Permitted Transfer, if Tenant shall enter into a Transfer hereunder, (a) the Minimum Annual Rent specified in Section 1.10 shall be increased, effective as of the date of such Transfer, to an amount equal to the total of the Minimum Annual Rent, plus Percentage Rent, required to be paid by Tenant pursuant to this Lease during the twelve (12) month period immediately preceding such Transfer, and (b) Tenant shall pay to Landlord fifty percent (50%) of any “"transfer premium” " (as defined in this Article 14.9hereinafter defined). In the event of a subletting, “"transfer premium” " shall mean all rent, additional rent or other consideration payable by such subtenant to Tenant or on behalf of Tenant in connection with the subletting in excess of the rent, additional rent and other sums payable by Tenant under this Lease during the term of the sublease on a per square foot basis if less than all of the Premises is subleased, less the reasonable costs actually incurred by Tenant to secure the sublease. In the event of any Transfer other than a subletting, “"transfer premium” " shall mean any consideration paid by the Transferee assignee to Tenant in connection with such Transfer which Landlord reasonably determines is allocable to the leasehold value of this Lease, less the reasonable costs actually incurred by Tenant to secure the Transfer. If part of the transfer premium shall be payable by the Transferee or subtenant other than in cash, then Landlord’s 's share of such non-cash consideration shall be in such form as is reasonably satisfactory to Landlord. In the event of an assignment or sublet of this Lease, any exclusives and/or caps on Operating Costs set forth in this Lease favoring Tenant shall be deleted as of the date of such Transfer.

Transfer Rent. If Tenant shall enter into a Transfer hereunder, Tenant shall pay to Landlord fifty percent (50%) of any the “transfer premium” (as defined in this Article 14.9hereinafter defined), if any. In the event of a subletting, “transfer premium” shall mean all rent, additional rent or other consideration payable by such subtenant to Tenant or on behalf of Tenant in connection with the subletting in excess of the rent, additional rent and other sums payable by Tenant under this Lease during the term of the sublease on a per square foot basis if less than all of the Premises is subleased, less the reasonable costs actually incurred by Tenant to secure the sublease. In the event of any Transfer other than a subletting, “transfer premium” shall mean any consideration paid by the Transferee assignee to Tenant in connection with such Transfer which Landlord reasonably determines is allocable to the leasehold value of this Lease, less the reasonable costs actually incurred by Tenant to secure the Transfer. If part of the transfer premium shall be payable by the Transferee or subtenant other than in cash, then Landlord’s share of such non-cash consideration shall be in such form as is reasonably satisfactory to Landlord. In Notwithstanding any other provision contained in this Lease, Landlord shall not be entitled to any consideration received by Tenant that is fairly allocated to the event value of an assignment or sublet Tenant’s tangible and intangible (including goodwill) business assets (as distinguished from the leasehold value of this Lease, any exclusives and/or caps on Operating Costs set forth in this Lease favoring Tenant shall be deleted as of the date of such Transfer).

Transfer Rent. If Tenant shall enter into a Transfer hereunderhereunder (other than a Permitted Transfer, as to which the provisions of this Section 13.6 shall not be applicable), Tenant shall pay to Landlord fifty percent (50%) of any “"transfer premium” " (as defined in this Article 14.9hereinafter defined). In the event of a subletting, “transfer premium” shall mean all rent, additional rent or other consideration payable by such subtenant to Tenant or on behalf of Tenant in connection with the subletting in excess of the rent, additional rent and other sums payable by Tenant under this Lease during the term of the sublease on a per square foot basis if less than all of the Premises is subleased, less the reasonable costs actually incurred by Tenant to secure the sublease, including, without limitation, attorneys’ fees and brokerage commissions. In the event of any a Transfer other than a subletting, “transfer premium” shall mean any key money, bonus money or other consideration paid by the Transferee assignee to Tenant in connection with such Transfer which Landlord reasonably determines is allocable Transfer, and any payment in excess of fair market value for services rendered by Tenant to the leasehold value of this Leasetransferee or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to transferee in connection with such Transfer, less the reasonable costs actually incurred by Tenant to secure the Transfer, including, without limitation, attorneys’ fees and brokerage commissions. If part of the transfer premium shall be payable by the Transferee or subtenant transferee other than in cash, then Landlord’s share of such non-cash consideration shall be in such form as is reasonably satisfactory to Landlord. In the event of an assignment or sublet of this Lease, any exclusives and/or caps on Operating Costs set forth in this Lease favoring Tenant shall be deleted as of the date of such Transfer.