Annual Net Rent definition

Annual Net Rent means, in respect of any Development Proposal, (a) the projected aggregate annualized amount of the fixed rent (reduced by any free rent periods as amortized on a straight-line basis over the life of the applicable lease; for example, if the applicable lease has a term of five (5) years with a five (5) month free rent period, the aggregate annualized amount of the fixed rent will be reduced by one months’ rent) payable for the twelve (12) month period commencing on the Lease Commencement Date, excluding percentage rent and any additional rent for electricity, gas, oil and other rent inclusion charges, all tax, utility, operating cost, xxxxxx’x wage and similar payments (whether referred to in the Development Proposal as escalations, pass-throughs, reimbursements, increases in fixed rent or otherwise), service charges, late charges and security deposits, less (b)
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Annual Net Rent means the rent described in Section 3.1 hereof;
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Annual Net Rent means the amount set forth in the following schedule: Annual Net Monthly Net From and After: Until and including: Rent: Rent: Rent Commencement The expiration of the $241,674.00 $20,139.50 Date Term
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Examples of Annual Net Rent in a sentence

  • Prunes and trims shrubs and hedges, and maintains tools, equipment, and structures, such as buildings, greenhouses, fences, and benches.

  • If Tenant fails to vacate the Premises when required, Tenant shall hold the Premises as a tenant from month to month, subject to all the other terms and conditions of this Lease, but shall pay rent at an amount equal to double the Annual Net Rent in effect just prior to such expiration or termination.

  • The first month's installment of Annual Net Rent shall be paid by Tenant upon the execution of this Lease and shall be credited by Landlord to the payment of the Annual Net Rent that first becomes payable under this Lease.

  • Annual Net Rent shall be entirely "net" to Landlord, it being intended that Tenant shall be required to pay, as Additional Rent, all costs and expenses of operating the Demised Premises.

  • Tenant will pay the Annual Net Rent in lawful money of the United States of America, in equal monthly installments in advance on the first day of each calendar month during the Term, at the offices of Landlord as set forth in the beginning of this Lease or such other place in the United States of America as Landlord designates.

  • Notwithstanding the payment of the Stipulated Loss Value, Tenant shall be permitted to remain in possession of the Premises for up to one hundred fifty (150) days from Landlord's notice, subject to all the terms and conditions of this Lease but Tenant shall continue to pay Annual Net Rent in the amount last due prior to Landlord's notice.

  • Rent Annual Net Rent: $ (if known) If Net Rent is not available, provide: Annual Gross Rent: $ Annual Utility Costs and Maintenance Fees: $ (Base Year Amount or Stop)Annual Property Taxes: $ (Base Year Amount or Stop)VII.

  • Annual Net Rent for each renewal term will be the annual fair market rental value of the Premises during each renewal term.

  • If the obligation to pay Annual Net Rent commences on any day other than on the first day of a calendar month, then the Annual Net Rent for the period from the date on which the obligation commences to the first day of the calendar month shall be prorated on a per diem basis.

  • Tenant covenants and agrees to pay Landlord during each year of the original term of this Lease net rental (the "Annual Net Rent") in the amounts and on the dates as set forth on Exhibit A attached hereto.


More Definitions of Annual Net Rent

Annual Net Rent means the gross rent collected by the Fund in respect of the Properties in the relevant Financial Year less operating expenses attributable to the Properties in that Financial Year, based on the Fund’s audited financial statements for the relevant Financial Year.
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Annual Net Rent. The annual net rate per rentable square foot for each lease year will be as follows: Year Net Rate ---- -------- 1 $10.00 2 $10.00 3 $11.50 4 $13.00 5 $13.00
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Annual Net Rent shall be per rentable square foot per Lease year as scheduled below: Lease Annual Net Annual Net Monthly Payment Year: Rent/RSF: Rent: Rent:
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Annual Net Rent means the sum of (i) the rent due pursuant to Section 3.1 of the PPD Lease as amended, and (ii) the rent due pursuant to Section 3 of the Global Signal Lease and as set forth on the Tenant Estoppel Certificate to be provided by Global Signal Tenant, Annual Net Rent shall not include the revenue received pursuant to Section 21 of the Global Signal Lease, The current Annual Net Rent is $823,764.68 per annum, based on the sum of (i) $811,454.64 due under the PPD Lease and (ii) $12,310.04, which is based on $13,310.04 due under the Global Signal Lease less $1,000 per year as a liquidated value for estimated annual real estate taxes due from Landlord under the Global Signal Lease.
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Annual Net Rent means the amount payable by Tenant for each Lease Year pursuant to Section 4.1(a).
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Related to Annual Net Rent

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Market Rent means the Base Rent for the Demised Premises at the time in question which Landlord sets forth in a notice (hereinafter referred to as the "Market Rent Notice") to Tenant. No later than thirty (30) days after Tenant may exercise Tenant's option to extend this Lease for the Renewal Term, Landlord shall send the Market Rent Notice to Tenant for said Renewal Term and shall specify in the Market Rent Notice for the period contained in the Renewal Term as applicable. In the event that Tenant shall, in good faith, disagree with the Market Rent set forth in the Market Rent Notice established by Landlord for the Demised Premises, Tenant shall, within ten (10) days after receipt of the Market Rent Notice, furnish Landlord with a written explanation in reasonable detail of the basis for Tenant's good faith disagreement, the amount which, in Tenant's good faith opinion, is the Market Rent for the period contained in the Renewal Term (hereinafter referred to as the "Tenant's Notice"). If Tenant's Notice is not received by Landlord within said ten (10) day period, the Market Rent shall be the Market Rent set forth in the Market Rent Notice to Tenant. If Tenant's notice is received by Landlord within said ten (10) day period, the Market Rent for the Demised Premises shall be established as follows: (i) No later than twenty (20) days following the receipt of the Market Rent Notice from Landlord, Tenant shall select an individual as an appraiser of its choice and give Landlord written notice of such appraiser's name, address and telephone number. (ii) Within ten (10) days after receipt of such notice by Landlord, Landlord shall select an appraiser of its choice and give Tenant written notice of such appraiser's name, address and telephone number. (iii) The two appraisers so selected by Landlord and Tenant shall then select an individual as a third appraiser within fifteen (15) days after receipt by Tenant of Landlord's notification as to its selection of an appraiser, and furnish Landlord and Tenant written notice of such appraiser's name, address and telephone number. (iv) All appraisers selected pursuant to this provision shall be M.A.I. appraisers, unless Landlord and Tenant shall otherwise agree in writing, each having at least ten (10) years experience with commercial property in the state of the location of the Demised Premises. Each of the three (3) selected appraisers shall then determine the fair rental value of the Demised Premises for each applicable period of the Renewal Term and the Market Rent hereunder for each Renewal Term, as applicable, shall be determined to be the average of the three (3) appraisals for each such years.

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

  • Minimum Rent means the sum of Thirty-Three Million, Six Hundred Seventy-Nine Thousand, Seven Hundred Sixteen and 55/100 Dollars ($33,679,716.55) per annum.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • 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.

  • Base Year means the period set forth in Section 5 of the Summary.

  • Annual Rent means the amount payable by Tenant to Landlord in respect of each year of the Term under Article 4.01.

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

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

  • Net Rentable Area means with respect to any Project, the floor area of any buildings, structures or improvements available for leasing to tenants (excluding storage lockers and parking spaces), as reasonably determined by the Administrative Agent, the manner of such determination to be consistent for all Projects unless otherwise approved by the Administrative Agent.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Fair Market Rent for the Subject Leased Property means for any Renewal Term shall mean an amount determined as follows: Landlord shall designate an independent MAI appraiser to determine the Fair Market Rent of the Subject Leased Property for the applicable Renewal Term within twenty (20) days after Tenant’s notice of its exercise of the applicable renewal option. Within thirty (30) days after selection of Landlord’s appraiser, Landlord shall notify Tenant of the determination made by Landlord’s appraiser with respect to the Fair Market Rent. Tenant shall then have ten (10) days to dispute such determination and to select its own independent MAI appraiser. In the event that Tenant fails to select its appraiser within such ten (10) day period, the determination of Landlord’s appraiser shall constitute such Fair Market Rent. Within ten (10) days after selection of Tenant’s appraiser, the two appraisers shall meet and attempt to agree as to the Fair Market Rent for the Subject Leased Property for the Renewal Term in question. In the event that such appraisers are unable to agree as to such Fair Market Rent then: (i) if the difference between the two determinations is less than five percent (5%) of the lower determination, then the average of the two determinations shall be deemed to constitute such Fair Market Rent; or (ii) if the difference between the two determinations is equal to or greater than five percent (5%) of the lower determination, then the two appraisers shall jointly select a third independent MAI appraiser, which appraiser shall select which of the determinations of the first two appraisers shall constitute such Fair Market Rent. Such third appraiser shall not have the right to vary or modify the determinations of the appraisers selected by Landlord and Tenant. Any appraiser selected pursuant to this paragraph must have at least ten (10) years experience in appraising commercial real estate in the area in which the Subject Leased Property is located. The appraisers shall not have the right to amend, modify or vary any of the terms of this Lease and the determination of the appraisers in accordance with this paragraph shall be final, binding and conclusive upon Landlord and Tenant. ]

  • Market Rental Rate means, at the time of reference, the gross rentable floor space of the Leased Premises multiplied by the greater of: (a) that annual rate of Basic Rent per square foot of gross rentable floor space which is then being quoted by the Landlord for comparable Other Leased Premises (or would then be quoted if comparable Other Leased Premises were then available) or (b) that annual rate of Basic Rent per square foot of gross rentable floor space in effect during the Expiring Term.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees' fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series' statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series' “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are "extraordinary" as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LP By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Chief Financial Officer THE ROYCE FUND By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Treasurer April 29, 2024 The Royce Fund 000 Xxxxx Xxxxxx New York, NY 10151 Gentlemen: Reference is made to the Investment Advisory Agreement dated July 31, 2020 (the “Agreement”), by and between The Royce Fund (the “Fund”), on behalf of Xxxxx Total Return Fund (the “Series”), and Royce & Associates, LP (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services it provides under the Agreement for the period beginning May 1, 2024, and ending April 30, 2025 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to its Service Class of shares (the “Class”) in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for the Class are not more than 1.49% of the Class’s average net assets for the Period. The Adviser's obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

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

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

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

  • Fair Market Rental Rate means the fair market value annual rental rate per square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently accepted in lease transactions between non-affiliated parties with non-equity tenants for comparable space, for a comparable period of time (“Comparable Transactions”). In any determination of Comparable Transactions, appropriate consideration shall be given to annual rental rates per square foot of Rentable Area, the type of escalation clauses (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental and other concessions granted in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in this Lease), length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any (taking into account the level of existing Base Building Improvements and tenant improvements in the Premises), free rent periods for construction of new tenant improvements and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that the Fair Market Rental Rate will reflect the rent and other economic benefits and concessions that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate shall not be Thirty-Two Dollars ($32) per square foot of Rentable Area only, but shall be the economic equivalent of Thirty-Two Dollars ($32) per square foot of Rentable Area, a Ten Dollar ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment in lieu of such allowance (said allowance or payment to be adjusted to reflect the value of existing improvements in the Premises) and such other generally applicable economic terms and concessions, as adjusted to reflect the concessions (including renovation allowances, free rent or construction periods) if any, granted by Landlord to Tenant during the Renewal Term.

  • 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;

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Percentage Rent As defined in Subsection 3.1(b).