Annual Net Rent definition

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 means the amount payable by Tenant for each Lease Year pursuant to Section 4.1(a).
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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

  • The Annual Net Rent shall be $ per month for each Phase, commencing upon the applicable Rent Commencement Date for the applicable Phase.

  • Effective upon the Date of Taking, the Annual Net Rent shall be reduced by an amount equal to the product derived by multiplying the Annual Net Rent then payable by a fraction, the numerator of which is the amount of square feet in the Leased Premises Taken and not rebuilt and the denominator of which is the amount of usable square feet in the Leased Premises immediately before the Date of Taking.

  • Upon the Rent Commencement Date for the last Phase, the Annual Net Rent shall increase to $ per month.

  • If the Rent Commencement Date is not the first day of a month, Annual Net Rent for the month in which the Rent Commencement Date occurs shall be pro-rated on the basis of the number of days in the month on and after the Rent Commencement Date.

  • Landlord shall not be required to execute, acknowledge and deliver any amendment to this Lease which (i) changes the amount or terms of payment of the Annual Net Rent or any other monetary amount which Tenant is obligated to pay as Additional Rent, (ii) reduces the Tenant’s or increases the Landlord’s financial obligations under this Lease, or (iii) materially and adversely affects the existing security or rights of Landlord under this Lease.

  • If the last day of the Term is not the last day of a month, Annual Net Rent for the month in which the last day of the Term occurs shall be pro-rated on the basis of the number of days in the month during which this Lease is in effect.

  • The Annual Net Rent payable after a Taking of Less Than Substantially All of the Leased Premises shall be reduced in the manner provided in Section 12.2(c).

  • Tenant shall pay the Annual Net Rent for each Lease Year in equal monthly installments in advance on the applicable Rent Commencement Date and thereafter on the first day of each month (or part of a month) during the Term.

  • If all or Substantially All of the Leased Premises is Taken (excluding a Taking of the fee interest in the Land if, after such Taking, Tenant’s rights under this Lease are not affected), this Lease shall terminate on the Date of Taking (defined below) and the Annual Net Rent payable by Tenant hereunder shall be apportioned and paid to the Date of Taking.

  • If any payment of Annual Net Rent is not received by Landlord within ten (10) days after the date on which it first becomes due, a late charge on the sums so overdue, calculated at the Default Interest Rate from the expiration of such ten (10) day period to the date on which actual payment is received by Landlord, shall become due and payable to Landlord for the administrative costs and expenses incurred by Landlord by reason of Tenant’s failure to make prompt payment.


More Definitions of Annual Net Rent

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. 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 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) (i) projected annual Project Operating Costs that will not be reimbursed by the tenants, (ii) any costs incurred in connection with the takeover, termination or assumption of any other lease or similar obligations of the tenants amortized over the term of the leases, and (iii) all above-standard tenant finish costs amortized over the term of the leases. As used herein, “above-standard tenant finish costs” refers to the costs of improvements that are required by a tenant pursuant to its specific use and that would not otherwise be provided by the landlord to another tenant.
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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 rent described in Section 3.1 hereof;
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Related to Annual Net Rent

  • Market Rent means the price that a ready and willing tenant would pay, at commencement of the Option Term, as monthly base rent to a ready and willing landlord of similar space in the geographical area of San Diego County known as Del Mar Heights if such office space were offered for lease on the open market for a reasonable period of time and be the product of the fair market annual rental rate per rentable square foot multiplied by the Rentable Area of the Premises (as set forth in the Basic Lease Information), determined as follows: (a) as mutually agreed by Landlord and Tenant within ten (10) days of Landlord’s delivery to Tenant of Landlord’s opinion of the Market Rent for the first year of the Option Term (“Landlord Rent Notice”, which shall be Verus Lease v06 -4- February 2, 2005 (8:51 pm) delivered to Tenant within ten (10) days of receipt of Tenant’s written Extension Notice; or (b) in the event that Landlord and Tenant are unable to so agree, the Market Rent shall be determined by concurrent appraisals pursuant to Section 4.01(c) below. In determining Market Rent, appraisers shall take into account the duration of the Option Term, the quality, condition and prestige of the Building and Premises (as tenant improvements are maintained as required by the terms and conditions of this Lease), recent monthly rental rates and annual base rent escalations for buildings of similar size and location imputed to the commencement of the Option Term, condition and quality of comparable tenant improvements in buildings of similar quality and location and all relevant economic terms of this Lease, including free rent and other economic inducements, it being the intent that Market Rent, as so determined, should reflect the total economic package which would be offered at the time of commencement of the Option Term to a new tenant for the Premises, or substantially similar space in a building of similar quality, condition, and location and with similar tenant improvements under a lease with substantially the same terms and provisions as the applicable terms and provisions of this Lease (“Market for Similar Space”) without discounting the rent for the creditworthiness of the Tenant or for the cost of real estate leasing commissions. Landlord’s Rent Notice, and any determination of Market Rent by appraisal as described herein, shall also set forth the market annual base rent escalation rate then prevailing in the relevant marketplace, which shall be used for purposes of determining Base Rent adjustments during the Option Term in accordance with Section 4.03 below.

  • Base Rent As defined in 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.

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

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

  • 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. ]

  • 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, LLC By: /s/ Jxxx X. Xxxxxxxxx Jxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Jxxx X. Xxxxxxxxx Jxxx X. Xxxxxxxxx Vice President [Royce & Associates, LLC Letterhead] December 31, 2012 The Royce Fund 700 Xxxxx Xxxxxx New York, NY 10151 Re: Fee Waiver and Expense Reimbursement - Royce Discovery Fund (Service Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated October 1, 2003 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Royce Discovery Fund (the “Series”) and Royce & Associates, LLC (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning May 1, 2013 and ending April 30, 2014 (the "Period"), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series' “Annual Operating Expenses” for its Service Class of shares (the “Class”) are not more than 1.49% of the Class’ average net assets for the Period. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent annual period through the annual period ending April 30, 2023 (but not for any annual period thereafter) in an amount, if any, necessary so that the Series' Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such annual 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.

  • Additional Rent means all sums of money, other than Base Rent, that shall become due from and payable by Tenant pursuant to this Lease.

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