Annual Rental Adjustment definition

Annual Rental Adjustment means the amount of Tenant's Proportionate Share of Operating Expenses for a particular calendar year.

Annual Rental Adjustment means an amount for each calendar year subsequent to the Base Year equal to Tenant’s Building Expense Percentage multiplied by the difference between (a) the amount of Operating Expenses for such calendar year and (b) the amount of Operating Expenses for the Base Year. In no event shall the Annual Rental Adjustment for any year during the term hereof be less than zero.

Annual Rental Adjustment means the amount of Tenant's Proportionate Share of Building Operating Expenses and Building Common Area and prorata share of Park Common Area expenses for a particular calendar year. Tenant's prorata share of Park Common Area expenses shall be calculated by dividing the total acreage of the parcel upon which the Building is located by the total acreage of that portion of the Park that is encumbered by the protective covenants.

Examples of Annual Rental Adjustment in a sentence

• As to any calendar year, any undertaking by Tenant must be initiated within sixty (60) days of receipt by Tenant of the statement from Landlord identifying the Annual Rental Adjustment; and absent fraud or gross negligence on Landlord’s part, the Operating Expenses as timely reported by Landlord for the calendar year will be deemed controlling upon the expiration of Tenant’s audit and verification rights for such calendar year.

• If Tenant retains possession of the Leased Premises after the expiration or earlier termination of this Lease, Tenant shall be a tenant at sufferance at One Hundred Fifty Percent (150%) of the Minimum Annual Rent and Annual Rental Adjustment for the Leased Premises in effect upon the date of such expiration or earlier termination, and otherwise upon the terms, covenants and conditions herein specified, so far as applicable.

• If Tenant retains possession of the Leased Premises after the expiration or earlier termination of this Lease, Tenant shall be a tenant at sufferance at one hundred twenty-five percent (125%) of the Monthly Rental Installments and Annual Rental Adjustment (as hereinafter defined) for the Leased Premises in effect upon the date of such expiration or earlier termination, and otherwise upon the terms, covenants and conditions herein specified, so far as applicable.

• Tenant shall also pay to Landlord the Annual Rental Adjustment (as hereinafter defined) in arrears for the immediately preceding month, without demand, deduction or offset, on the first day of the month immediately following the Rent Commencement Date and on or before the first day of each and every calendar month thereafter during the Lease Term.

More Definitions of Annual Rental Adjustment

Annual Rental Adjustment means the amount of Tenant's Proportionate Share of Operating Expenses, Real Estate Taxes and Insurance Premiums for a particular calendar year. Tenant’s Proportionate Share of “Controllable” Operating Expenses shall not be increased by more than 10% cumulatively during any calendar year. For purposes of this Lease, “Controllable” Operating Expenses shall mean any Operating Expense which is paid under a stated rate contract (e.g., trash removal, pest control, window washing). “Controllable” Operating Expenses shall not include (i) expenses subject to change based on actual services provided (e.g., snow removal, landscaping, utilities), (ii) Real Estate Taxes, and (iii) Insurance Premiums.

Annual Rental Adjustment. Operating expenses, property insurance and property taxes are included in the modified gross rent of the lease in addition to utilities (including heating, cooling,). Any changes in operating expense during the term of the lease shall not be an additional expense or cost to Tenant or change the rent schedule in Section 1.01(e).

Annual Rental Adjustment means the amount of Tenant's Proportionate Share of Operating Expenses for a particular calendar year. 5 2. "Operating Expenses" - shall mean the amount of all of Landlord's direct costs and expenses paid or incurred in operating, maintaining and managing the Building and Common Areas (as defined in Section 18.03) for a particular calendar year as determined by Landlord in accordance with generally accepted accounting principles, consistently applied, including all additional direct costs and expenses of operation and maintenance of the Building which Landlord reasonably determines that it would have paid or incurred during such year if the Building had been fully occupied, including by way of illustration and not limitation: all general real estate taxes and all special assessments levied against the Building and the land associated therewith (hereinafter called "real estate taxes"), other than penalties for late payment; costs and expenses of contesting the validity or amount of real estate taxes; insurance premiums; water, sewer, electrical and other utility charges other than the separately billed electrical and other charges paid by Tenant as provided in this Lease; service and other charges incurred in the operation and maintenance of the elevators and the heating, ventilation and air-conditioning system; cleaning and other janitorial services; tools and supplies; repair costs; landscape maintenance costs and security services; license, permit and inspection fees; management fees; wages and related employee benefits payable for the maintenance and operation of the Building; amortization of the costs, including interest at the rate per annum quoted and announced from time to time by Bank One, Cincinnati, N.A., Ohio as its "prime" rate (the "Prime Rate"), of capital improvements that produce a reduction in operating costs (but only to the extent of the actual savings realized) or are required to be made under any governmental law or regulation which was not applicable to the Building upon the execution date of this Lease; and in general all other costs and expenses which would, under generally accepted accounting principles, be regarded as operating and maintenance costs and expenses. All capital improvements or replacements allowed herein shall be amortized using the longest life permitted under the Internal Revenue Code. For purposes herein, operating Expenses charged to Tenant for the calendar year 1997 will not exceed $6.00 per rentable square foot...

Annual Rental Adjustment means the amount of Tenant's Proportionate Share of Operating Expenses and Tenant's Proportionate Share of Real Estate Taxes for a particular calendar year.

Annual Rental Adjustment means the amount of Operating Expenses, Real Estate Taxes (to the extent Tenant does not pay the taxing authorities directly, as permitted herein) and Insurance Premiums for a particular calendar year.

Annual Rental Adjustment the amount of Operating Expenses for the Premises, Building and Property Common Areas for a particular calendar year.

Annual Rental Adjustment. - shall mean the amount of the increase in Tenant's Proportionate Share of "Real Estate Taxes and Insurance" and Tenant's Proportionate Share of "Common Area Expenses" for a particular year.