Administrative Rent definition

Administrative Rent shall have the meaning assigned thereto in Section 4.03(c) hereof.
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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...
Sample 1
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”).

  • 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.

  • 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.

  • 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's Improvements, and shall be payable out of the TI Fund.

  • 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.

  • 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 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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Related to Administrative Rent

  • Administrative Review means any decision making process of the director requested by a party aggrieved with an action taken under these rules except the hearing process described in OAR 436-001.

  • Administrative Requirement means any required notice, filing or other similar administrative requirements (other than any requirement for Consent or any Eligibility Requirements) for the Transfer of any Appointment to the applicable Purchaser as set forth in the related Corporate Trust Contract.

  • Administrative record means any record pertaining to the management, supervision or administration of the judicial branch, including any court, board, or committee appointed by or under the direction of any court or other entity within the judicial branch, or the office of any county clerk.

  • Administrative Receivable means a Receivable which the Servicer is required to purchase pursuant to Section 3.08 or which the Servicer has elected to purchase pursuant to Section 8.01.

  • Administrative Rules means the rules and procedures of the Issuer relating to the operation of the Plan.

  • Administrative cost means a fee imposed to cover:

  • Administrative Party means the Arranger or the Facility Agent.

  • Administrative Costs means all costs and expenses associated with providing notice of the Settlement to the Settlement Class and otherwise administering or carrying out the terms of the Settlement. Such costs may include, without limitation: escrow agent costs, the costs of publishing the summary notice, the costs of printing and mailing the Notice and Proof of Claim, as directed by the Court, and the costs of allocating and distributing the Net Settlement Fund to the Authorized Claimants. Such costs do not include legal fees.

  • Administrative Fees shall have the meaning assigned to such term in Section 2.06(b).

  • Administrative Cost Rate As of any date of determination, a rate equal to the sum of the Servicing Fee Rate, the Operating Advisor Fee Rate, the Asset Representations Reviewer Ongoing Fee Rate, the CREFC® Intellectual Property Royalty License Fee Rate and the Trustee/Certificate Administrator Fee Rate.

  • Administrative penalty means a monetary fine imposed by the division for acts or omissions determined to constitute unprofessional or unlawful conduct, as a result of an adjudicative proceeding conducted in accordance with Title 63G, Chapter 4, Administrative Procedures Act.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Administrative Fee is defined in Section 4.1(a).

  • Administrative authority means the state or local official responsible for the administration and enforcement of this act.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Affordable Rent means a rent which does not exceed eighty per centum (80%) of the market rent (inclusive of service charges) for an equivalent property of the relevant size and location such rent to be assessed and set in accordance with the applicable requirements of Legislation and of the Rent Standard;

  • Administrative Charge means, with respect to any Lease, any payment (whether or not part of the fixed monthly payment) payable to the related Lessor representing a disposition fee, a late payment fee, an Extension Fee, an allocation to the related Lessee of insurance premiums, sales, personal property or excise taxes or any other similar charge.

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Administrative fund means that Fund established by Section 6.1 and administered pursuant to Section 6.9.

  • 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.

  • For Rent or "For Sale" thirty (30) days before the termination of this Lease. Landlord may enter the Premises at reasonable hours to exhibit same to prospective purchasers or tenants and to make repairs required of Landlord under the terms hereof, or to make repairs to Landlord's adjoining property, if any.

  • Administrative Action has the meaning set forth in paragraph 4(a) of Annex I.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);