Additional Rents definition

Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

Additional Rents shall have the meaning assigned thereto in Section 10.2(a).

Additional Rents shall have the meaning assigned thereto in Section 10.2(a). “Adjusted Gross Asset Value” shall have the meaning assigned thereto in Section 2.2(a).

Examples of Additional Rents in a sentence

• If for any fiscal period which includes the Adjustment Date tenants are paying Additional Rent based upon estimates prepared by the Seller, such Additional Rents shall be reapportioned when the actual expenses for the fiscal period are known.

• If either Buyer or Seller collects any non-delinquent Rents or Additional Rents applicable to the month in which the Closing occurred, such Rents or Additional Rents shall be prorated as of the Closing Date and paid to the Party entitled thereto within ten (10) days after receipt.

• If Additional Rents relating to full or partial months prior to the Closing Date are not finally adjusted between Seller and any Tenant until after the Closing Date, then any refund to which any Tenant may be entitled shall be the obligation of Seller, and any additional amounts due from the Tenant for such period shall be the property of Seller.

• If the whole of the Premises is condemned by any legally constituted authority, this Lease shall cease from the date of such taking and Base and Additional Rents shall be accounted for between Library and Tenant as of the date of such taking, and neither Party shall have a claim against the other for Base and Additional Rents or other value of this Lease for the unexpired portion of the Term.

• If any portion of the Premises is condemned by any legally constituted authority and the portion so taken shall, in Tenant's opinion, make the Premises unsuitable for Tenant's operations, Tenant shall have the right to terminate this Lease, effective as of the date of such taking and Base and Additional Rents shall be accounted for between Library and Tenant as of the date of such taking.

More Definitions of Additional Rents

Additional Rents shall have the meaning set forth in Section 8.5(a).

Additional Rents means amounts tenants may be obligated to pay as additional rent, including certain percentage rent, certain escalations in base rent, and certain pass-throughs of operating and similar expenses.

Additional Rents as such term is defined in Section 3.2.2 hereof.

Additional Rents means any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Additional Rents means any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. Purchaser and Seller acknowledge and agree that no reconciliation of tenant tax or expense reimbursements will be performed at the Closing; however, such a reconciliation will be completed prior to April 30, 2008 and Seller agrees to cooperate with Purchaser in connection with such post-Closing reconciliation. If such reconciliation reveals that Seller has received Additional Rents in excess of the amount that tenants were required to pay, based on the actual expenses as of the Closing, then within thirty (30) days after the reconciliation is completed, Seller shall remit such excess amount(s) (the “Excess Amount”) to Purchaser and Purchaser shall promptly remit the applicable portion of such Excess Amount to the applicable tenant. In such event, Purchaser shall indemnify, protect and defend Seller and the Seller Indemnified Parties harmless from and against any Losses that Seller or any Seller Indemnified Party suffers or incurs as result of the failure of Purchaser to deliver the Excess Amount, received by Purchaser from Seller, to the applicable tenant(s); provided, however, that Purchaser’s liability with respect to this indemnity shall be capped at the sum of (1) amount of the Excess Amount received by Purchaser from Seller and not remitted to the applicable tenant(s) plus (2) reasonable attorneys’ fees. If, however, the reconciliation reveals that Seller has received Additional Rents that are less than the amount that tenants were required to pay based on the actual expenses as of the Closing (a “Tenant Deficiency”), then Purchaser shall deliver to Seller the amount of such deficiency within thirty (30) days of the reconciliation pursuant to which the tenants’ payments of such deficient amounts are received by Purchaser. Without limitation of the foregoing, in the event there are any Tenant Deficiencies, Purchaser covenants, for a period not to exceed sixty (60) days after such Tenant Deficiency is realized, to xxxx the applicable tenant(s) for such deficient amounts. If, at the end of the applicable sixty (60) day period, such deficiency has not been paid by the tenant, then Seller shall have the right to commence or pursue legal proceedings against the applicable tenant provided that (y) Seller shall commen...

Additional Rents means any and all amounts due from Tenants for Operating Expenses and any other Tenant charges other than Rents.

Additional Rents means any and all amounts due from or paid by tenants including, without limitation, operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges that are paid by the tenant(s) to Seller, as landlord, as opposed to charges (e.g. utility) that the tenant(s) pays directly to third parties. The provisions of this Section 15.5 shall survive the Closing and the delivery of any conveyance documentation.