Administrative Rent definition

Administrative Rent shall have the meaning assigned thereto in Section 4.03(c) hereof.
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Administrative Rent means all "Minimum Rent", "Additional Rent", "Renewal Term Minimum Rent", "Additional Charges", and "Late Charges", if and as defined or otherwise expressly provided for in the applicable lease, to the extent that each such charge or claim would be payable in accordance with section 365(d)(3) of the Bankruptcy Code; and
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Administrative Rent. (as defined in Section 7.1 of the Work Letter), and all ----------- "Taxes" (as defined in Section 9 below) that become due and payable while --------- construction is being performed (collectively, the "Base Construction Costs"). The maximum amount of the Building Allowance shall be $155.00 per rentable square foot of the Building, provided that under no circumstances (including an increase in the rentable square footage of the Building) shall the aggregate amount of the Building Allowance exceed $8,331,250.00. For each incremental level of Building Allowance disbursed to Tenant (adjusted for any amounts -------- actually received by Landlord as reimbursement under Sections 19.b. or 19.d. of the Ground Lease and retained by Landlord pursuant to the terms and condition of a certain Cost Sharing Agreement of substantially even date herewith between Landlord and Tenant (the "Cost Sharing Agreement")), Tenant shall pay to Landlord the amount ("Base Rent") set forth for such increment on the following schedule: -------------------------------------------------------------------------------- Building Allowance Incremental Base Rent (Per Rentable Square Foot) (Per Rentable Square Foot Per Month) -------------------------------------------------------------------------------- $0.00 to $ 55.00 $0.5500 -------------------------------------------------------------------------------- $55.01 to $ 95.00 add $0.4334 -------------------------------------------------------------------------------- $ 95.01 to $115.00 add $0.2334 -------------------------------------------------------------------------------- $115.01 to $135.00 add $0.2500 -------------------------------------------------------------------------------- $135.01 to $155.00 add $0.2667 -------------------------------------------------------------------------------- For illustration purposes only, the aggregate monthly Base Rent will be $1.7335 per rentable square foot if the entire $155.00 per rentable square foot Building Allowance is disbursed to Tenant. Upon either party's request, the other party shall execute and deliver a written acknowledgment of the aggregate Base Construction Costs, the aggregate Building Allowance actually disbursed to or for the benefit of Tenant (adjusted for any amounts actually received by -------- Landlord as reimbursement under Sections 19.b. or 19.d. of the Ground Lease and retained by Landlord pursuant to the terms and condition of the Cost Sharing Agreement), and the initial...
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Examples of Administrative Rent in a sentence

  • Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with monitoring the construction of the Tenant Improvements and Changes, and shall be payable out of the TI Fund.

  • Such Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund.

  • The TI Fund shall be used solely for the payment of design, permits and construction costs in connection with the construction of the Tenant Improvements, including, without limitation, the cost of electrical power and other utilities used in connection with the construction of the Tenant Improvements, the cost of preparing the TI Design Drawings and the TI Construction Drawings, all costs set forth in the Budget, including Landlord’s Administrative Rent, and the cost of Changes (collectively, “TI Costs”).

  • The TI Fund shall be used solely for the payment of design and construction costs in connection with the construction of the Tenant Improvements, including, without limitation, the cost of preparing the TI Design Drawings and the TI Construction Drawings, all costs set forth in the Budget, including Landlord’s Administrative Rent, and the cost of Changes (collectively, “TI Costs”).

  • Such Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such monitoring of the construction of the Tenant Improvements.

  • Landlord shall have the right (but not the obligation) to engage a project or development manager to assist in performing such administration, monitoring, and inspection of Landlord's Work and any payments to any such manager (excluding payments for any services performed by such manager at Tenant's direct request or direction) shall be payable from Administrative Rent.

  • Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with monitoring the construction of the Tenant Improvements and Changes, and shall be payable out of the Tl Fund.

  • The Budget is based upon the TI Construction Drawings approved by Tenant and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 1.5% of the TI Costs, which Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in connection with monitoring the construction of the Tenant Improvements and Changes, and shall be payable out of the TI Fund.

  • The TI Fund shall be used solely for the payment of design, permits and construction costs in connection with the construction of the Tenant Improvements, including, without limitation, the cost of electrical power and other utilities used in connection with the construction of the Tenant Improvements, the cost of preparing the Space Plans and the TI Construction Drawings, all costs set forth in the Budget, including Landlord’s Administrative Rent, and the cost of Changes (collectively, “TI Costs”).

  • Such Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses, and fees incurred by or on behalf of Landlord arising from, out of, or in connection with, such administration, monitoring, and inspection of Landlord's Work.


More Definitions of Administrative Rent

Administrative Rent. (as defined in Section 6.1 of the Work Letter), and all “Taxes” (as defined in Section 9 below) that become due and payable while construction is being performed (collectively, the “Construction Costs”). The maximum amount of the Construction Allowance shall be $3,000,000.00 (adjusted for any amounts actually received by Landlord as reimbursement under Sections 19.b. or 19.d. of the Ground Lease and retained by Landlord pursuant to the terms and conditions of a certain Cost Sharing Agreement dated July 27,1999, between Landlord and Tenant (the “Cost Sharing Agreement”)); Tenant hereby acknowledges and agrees that the aggregate Construction Costs may exceed the Construction Allowance (as adjusted and actually disbursed to or for the benefit of Tenant, the “Disbursed Construction Allowance”)), and that Tenant may be responsible for any such excess, as provided in the Work Letter (including, but not limited to, Sections 6.2 and 6.4 thereof). Tenant shall pay to Landlord equal monthly installments of improvement rent (“Improvement Rent”), which installments of Improvement Rent are intended generally to constitute repayment of any portion of the Disbursed Construction Allowance that exceeds $2,000,000.00 (the “Excess Disbursed Construction Allowance”) and shall be equal to the equal monthly payments that would be necessary to amortize fully the Excess Disbursed Construction Allowance over a period of 120 months at an annual interest rate of 12.00%. For illustration purposes only, if the Excess Disbursed Construction Allowance is $1,000,000.00, the equal monthly installments of Improvement Rent will be $14,347.09. Upon either party’s request, the other party shall execute and deliver a written acknowledgment of the aggregate Construction Costs, the Disbursed Construction Allowance, the Excess Disbursed Construction Allowance, and the initial equal monthly installments of Improvement Rent computed on such Excess Disbursed Construction Allowance, when the same have been established, and shall attach the acknowledgment to this Lease as Exhibit E; provided, however, either party’s failure to execute and deliver such acknowledgment shall not affect the other party’s rights hereunder. Notwithstanding the foregoing, Tenant, at any time after the 36th month of the Term, shall have the right to prepay, without penalty or premium, all of the Improvement Rent that will be due for the remainder of the Term, which prepayment (the “Improvement Rent Prepayment”) shall be equal...
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