Effective Rental Rate definition

Effective Rental Rate means the dollar amount per square foot computed as follows: (i) total Base Rent over the term described in the proposal or offer, (ii) less the amount of any tenant improvement allowance or the cost of any tenant improvements to be installed by Landlord, (iii) less the amount of any free rent, moving expenses, lease assumption payments and other concessions to be provided by Landlord, (iv) divided by the number of years in the term, and (v) further divided by the number of square feet in the premises in question.
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Effective Rental Rate means the constant rent per period that equals the present value of the net cash flows, including, without limitation, cash flows related to capital items such as tenant improvements and leasing commissions, and taking into account all concessions, abatements, incentives and similar items, over the lease term, discounted at an annual cost of capital rate equal to eight percent (8%).
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Examples of Effective Rental Rate in a sentence

  • Whenever any Equipment is required to be returned to Lessor but is not returned to Lessor by the date required, in addition to all of Lessor’s other rights and remedies hereunder, Lessee shall pay to Lessor rent for the period after the end of the Term through the date of Lessor’s receipt of the Equipment at the Previously Effective Rental Rate (as defined in Section 6).

  • If Landlord desires to lease such Refusal Space at a Net Effective Rental Rate (hereinafter defined) less than ninety percent (90%) of the Net Effective Rental Rate offered to Tenant in the related Third Party Offer Notice or the size or configuration of the Refusal Space changes in any material respect, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms or adjusted Refusal Space.

  • The term "Net Effective Rental Rate" shall mean the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions contained in the First Refusal Notice.

  • In addition, as the Effective Rental Rate under the Master Lease Agreement is lower than the market rate as indicated in the Valuation Report, the entry into the Master Lease Agreement will result in cost-savings for the Group.

  • If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety-five percent (95%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms.

  • If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety-five percent (95%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Building 10 Offer Space Notice hereunder on such lower terms.

  • Notwithstanding the foregoing, if Landlord desires to lease the entire office space at a Net Effective Rental Rate less than ninety percent (90%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms.

  • If Tenant does not exercise such right to lease the Offer Space, then Landlord shall have the right to lease such space to another prospective tenant for a net effective rental rate which is not less than ninety percent (90%) of the Net Effective Rental Rate (hereinafter defined) offered to Tenant in the related Offer Notice.

  • At any time during the term of the Loan, Administrative Agent and/or any Lender may request confirmation from Borrower of the ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ footage of net rentable area at the Property that is leased pursuant to Leases of less than 15,000 square feet executed by Borrower without Administrative Agent’s consent and under which the Net Effective Rental Rate is less than eighty-five percent (85%) of the amount assumed for such Lease in the then most recent Appraisal.

  • If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety percent (90%) of the rental rate offered to Tenant, then such space shall again be offered to Tenant by a new Offer Notice hereunder on such lower rent terms.