Building Rate definition

Building Rate means Landlord’s cost of providing HVAC services, as reasonably determined by Landlord (without additional charge), computed on the basis of (a) the cost of labor and (b) charges for electricity and other utilities. Landlord shall not be required to furnish any such services during any Overtime Periods unless Landlord has received advance written notice delivered to Landlord’s designated building manager from Tenant requesting such services prior to 3:00 P.M. of the day upon which such services are requested or by 3:00 P.M. of the last preceding Business Day if such Overtime Periods are to occur on a day other than a Business Day. If Tenant fails to give Landlord such advance notice, then failure by Landlord to furnish or distribute any such services during such Overtime Periods shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of Rent, or relieve Tenant from any of its obligations under this Lease, or impose any liability upon Landlord or its agents by reason of inconvenience or annoyance to Tenant, or injury to or interruption of Tenant’s business or otherwise. If more than one tenant utilizing the same system as Tenant requests the same Overtime Periods for the same services as Tenant, the charge to Tenant shall be adjusted pro rata.
Sample 1Sample 2
Building Rate means Landlord's cost (exclusive of depreciation and amortization of equipment) of providing HVAC services, as reasonably determined by Landlord (without additional charge), computed on the basis of (a) the cost of labor and (b) charges for electricity and other utilities, which Building Rate shall in no event exceed the market rate charged by other owners of First Class Office Buildings in Manhattan. Landlord shall not be required to furnish any such services during any Overtime Periods unless Landlord has received advance written notice delivered to Landlord's designated building manager from Tenant requesting such services prior to 3:00 P.M. of the day upon which such services are requested or by 3:00 P.M. of the last preceding Business Day if such Overtime Periods are to occur on a day other than a Business Day. If Tenant fails to give Landlord such advance notice, then failure by Landlord to furnish or distribute any such services during such Overtime Periods shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or diminution of Rent, or relieve Tenant from any of its obligations under this Lease, or impose any liability upon Landlord or its agents by reason of inconvenience or annoyance to Tenant, or injury to or interruption of Tenant's business or otherwise. If more than one tenant (including Landlord) utilizing the same system as Tenant requests the same Overtime Periods for the same services as Tenant, the charge to Tenant shall be adjusted pro rata.
Sample 1
Building Rate as used herein for the Option Term shall be determined by the fair market annual rental of the Leased Premises reasonably determined by Lessor based on a survey of annual rental rates being charged for the lease in comparable buildings in the immediate Bellaire area which includes the Building, for space comparable to the Leased Premises, taking into account the quality and age of the building, the floor level, quality of tenant improvements provided and other relevant factors and assuming that such annual rental is a “gross” rental pursuant to a lease providing for a pass through of taxes and operating expenses on a proportionate basis. Lessor may consider the then current base rent rate being charged by Lessor for other leases of the Building in determining Building Rate. In addition, Building Rate shall be subject to periodic adjustments in the same manner as herein provided for in the Lease Agreement. Within thirty (30) days of receiving Lessee’s written notice of intent to exercise the Option Term, Lessor shall present to Lessee in writing, Lessor’s opinion of the prevailing market Building rate. At that time, Lessee shall have thirty (30) days to provide Lessor with written notice accepting or rejecting Lessor’s determination. If Lessee does not notify Lessor that Lessee accepts or rejects its determination within this period of time, the option to extend the Term shall be null and void. If Lessee rejects Lessor’s determination of prevailing market Building Rate, both parties shall attempt to negotiate in good faith an agreed upon Building Rate for another fifteen (15) days. If as of the expiration of such fifteen (15) day period, the parties agree on the Building Rate for the Option Term, the parties shall execute a formal renewal amendment extending the Term and establishing the Building Rate. If as of the expiration of such fifteen (15) day period, the parties do not agree on the Building Rate, the option to extend the Term shall be null and void.
Sample 1

Examples of Building Rate in a sentence

  • Each year during the Lease Term, the Rent shall be equal to the rental rate established for the Building (“Building Rate”) for the subsequent calendar year multiplied by the square feet occupied by Tenant and shall remain in effect until the Building Rate changes.

  • The new Rent as so adjusted shall begin each calendar year on January 1st and continue at the adjusted rate until the next annual adjustment of the Building Rate.

  • The Building Rate shall be determined by Landlord and provided, by written notice, to Tenant not later than November 1st of each calendar year.

  • The Building Rate increase shall not exceed five percent (5%) during any given year.

  • The "market rate" shall be the then current rent charged by Landlord for the lease of office space then available for lease in the Building ("Building Rate"), or if none then available for lease, the then prevailing rent charged in comparable Class A buildings in Hollywood within a one-half (1/2) mile radius of the Building ("Comparable Rate").

  • The Base Rent for the new premises shall be at the then current Prevailing Market New Building Rate (as defined herein) and the term of the lease for the new space shall be for at least five (5) years.

  • Lessee is hereby granted one (1) option to renew and extend the Term for a period of five (5) years, commencing on the expiration of the Term, on the same terms and conditions set forth in the Lease Agreement, except that the Base Rent during the Option Term shall be at the then Building Rate as defined below (the “Option Term”).

  • To determine the Building Rate, Tenant may request Landlord during the final year of the Existing Premises Term to provide to Tenant the following: (a) the average per square foot rent at which any vacate space then located in the Building is being offered for lease by Landlord; and (b) the average per square foot rental rate charged for any lease(s) entered into by landlord in the Building with a term which commences or is scheduled to commence within the last year of the Existing Premises Term.

Related to Building Rate

  • Ceiling Rate means, with respect to any Calculation Period, the rate set forth as the “Ceiling Rate” on the attached Schedule I.

  • Building Area means the greatest horizontal area of a building within the outside surface of the exterior walls.

  • Building Common Areas means with respect to the Tower, the areas, facilities and amenities specified in Schedule [E] which are to be used and enjoyed in common with all the other Apartment Acquirers of the Units in the Building; and

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • 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.

  • Rentable Area when applied to the Premises, is that area equal to the usable area of the Premises, plus an equitable allocation of Rentable Area within the Building that is not then utilized or expected to be utilized as usable area, including that portion of the Building devoted to corridors, equipment rooms, restrooms, elevator lobby, atrium and mailroom.

  • building line means a rear space, side space or street front space;

  • Base Building shall include the structural portions of the Building, the public restrooms and the Building mechanical, electrical and plumbing systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located. Tenant shall promptly provide Landlord with copies of any notices it receives regarding an alleged violation of Law. Tenant shall comply with the rules and regulations of the Building attached as Exhibit E and such other reasonable rules and regulations adopted by Landlord from time to time, including rules and regulations for the performance of Alterations (defined in Section 9).

  • Building Square Footage or "BSF" means the square footage of assessable internal living space of a Unit, exclusive of any carports, walkways, garages, overhangs, patios, enclosed patios, detached accessory structure, other structures not used as living space, or any other square footage excluded under Government Code Section 65995 as determined by reference to the Building Permit for such Unit.

  • Building Drain means that part of the lowest horizontal piping of a drainage system which receives the discharge from soil, waste, and other drainage pipes inside the walls of the building and conveys it to the building sewer, beginning five (5) feet (1.5 meters) outside the inner face of the building wall.

  • Building system means plans, specifications and documentation for a system of manufactured factory-built structures or buildings or for a type or a system of building components, including but not limited to: structural, electrical, mechanical, fire protection, or plumbing systems, and including such variations thereof as are specifically permitted by regulation, and which variations are submitted as part of the building system or amendment thereof.

  • Building site means a plot of land held for building purposes, whether any building is actually erected thereupon or not, and includes the open ground or courtyard enclosed by, or adjacent to, any building erected thereupon;

  • Funding Rate means any individual rate notified by a Lender to the Facility Agent pursuant to sub-paragraph (ii) of paragraph (a) of Clause 10.3 (Cost of funds).

  • Base Rent As defined in Section 3.1.

  • Buildings means any and all buildings, structures, garages, utility sheds, workrooms, air conditioning towers, open parking areas and other improvements, and any and all additions, alterations, betterments or appurtenances thereto, now or at any time hereafter situated, placed or constructed upon the Land or any part thereof.

  • Rentable Area of Premises on Page 1 of the Lease shall be deleted in their entirety and replaced with the following:

  • Increased Rate means, with respect to any Increased Rate Period for a Series of RVMTP Shares, the Index Rate for such Increased Rate Period plus an Applicable Spread of 5.92%.

  • Prime Lending Rate means the rate which the Administrative Agent announces from time to time as its prime lending rate, the Prime Lending Rate to change when and as such prime lending rate changes. The Prime Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer by the Administrative Agent, which may make commercial loans or other loans at rates of interest at, above or below the Prime Lending Rate.

  • Building Height - means the vertical distance between grade and the highest point of a building; excluding an elevator housing, a mechanical housing, a roof stairway entrance, a ventilating fan, a skylight, a steeple, a chimney, a smoke stack, a fire wall, a parapet wall, a flagpole or similar device not structurally essential to the building;

  • Base Building Work means the base building work for the Building as described in this Manual.

  • Office Building (Premises), means a building or premises or part thereof whose sole or principal use is for an office or for office purposes or clerical work. "Office purposes" includes the purpose of administration, clerical work, handling money, telephone, telegraph and computer operation; and "clerical work" includes writing, book-keeping, sorting papers typing, filing, duplicating, punching cards or tapes, machines calculations, drawing of matter for publication and editorial preparation of matter for publication.