AMORTIZED LEASING COSTS definition
AMORTIZED LEASING COSTS means, for any period, the sum of the amortized portion of all Investor Leasing Costs (as defined in the Master Transaction Agreement) and New Leasing Costs for such period, it being acknowledged and agreed that all such Investor Leasing Costs and New Leasing Costs shall be amortized on a straight-line basis monthly over the base term of the applicable lease commencing on the rent commencement date for such lease, plus interest on the unamortized portion of all Investor Leasing Costs and New ---- Leasing Costs outstanding from time to time during such period at the rate of ten percent (10%) per annum.
AMORTIZED LEASING COSTS means, for any calendar quarter, the aggregate amount of all tenant improvement expenses and leasing commissions for the Subject Property allocated to such calendar quarter obtained by amortizing all tenant improvement expenses and leasing commissions incurred by the Operating Partnership or its Subsidiaries for the Subject Property during the term of this Agreement in accordance with GAAP over the initial lease term of each lease for which such expenses and commissions were incurred.