Electricity Rent Inclusion Factor definition

Electricity Rent Inclusion Factor means the amount determined by multiplying Landlord's Cost by Tenant's average kilowatt hour usage determined by the estimate of an electrical consultant selected by Landlord, plus six (6%) percent of the resulting total. When a survey has been made by the electrical consultant selected by Landlord (the "Consultant"), the parties shall make adjustment for any deficiency owed by Tenant or any overage paid by Tenant. If after the first day of any relevant period for which either of the aforesaid computations is made there is an increase or decrease in Landlord's Cost then, the ERIF for such relevant period shall be recomputed, effective on and after the change in Landlord's Cost, by applying such changed rate and/or charges to the aforedescribed consumption and demand. The parties agree that the Consultant shall determine (i) the ERIF in accordance with the provisions of this subdivision 2 and (ii) the changes in the ERIF due to changes in Landlord's Cost. The Consultant may from time to time make surveys in the demised premises of the electrical equipment and fixtures and use of current therein, and the ERIF, effective as of the date The determination by the Consultant shall be binding and conclusive on Landlord and Tenant from and after the delivery of copies of such determinations to Landlord and Tenant, unless within fifteen (15) days after the delivery of such copies, Tenant disputes such determinations by having an independent reputable electrical consultant selected and paid for by Tenant, consult with Landlord or its consultant as to said determinations. If they shall both agree upon the same, their said agreement shall be binding upon the parties, or if the difference between them is ten (10%) percent or less of the determinations made by the Consultant, then the determinations made by the Consultant shall be binding upon the parties. If Landlord or the Consultant and Tenant's consultant can not agree within the said ten (10%) percent of each other, they shall jointly select a third duly qualified independent, reputable electrical consultant who shall determine the matter and whose decision shall be binding upon both parties with the same force and effect as if a non-appealable judgment had been entered by a court of competent jurisdiction. If Landlord or the Consultant and Tenant's consultant can not agree upon such a third electrical consultant, the matter shall be submitted to the American Arbitration Association in New York City to be determined...
Sample 1
Electricity Rent Inclusion Factor means the amount determined by applying the estimated connected electrical load and usage thereof in the demised premises (as determined by the electrical consultant as hereinafter provided) to the rate charged for such load and usage in the service classification in effect on January 1, 1998, pursuant to which Landlord then purchased electric current for the entire Building from the public utility corporation. If the cost to Landlord of electricity shall have been, or shall be, increased subsequent to January 1, 1998 (whether such increase occurs prior to or during the term of this Lease), by change in Landlord's electric rates, charges, fuel adjustment, or service classifications, or by taxes or charges of any kind imposed thereon, or for any other such reason, then the aforesaid ERIF portion of the fixed annual rent shall be increased in the same percentage and the fixed annual rent provided herein shall be increased accordingly.
Sample 1
Electricity Rent Inclusion Factor means the amount determined by applying the estimated connected electrical load and usage thereof in the Demised Premises (as determined by the electrical consultant as hereinafter provided) to the rate charged for such load and usage in the service classification in effect on September 1, 1991 pursuant to which Landlord then purchased electric current for the entire Building from the public utility corporation, which, as set forth in this Section 17.02, Landlord and Tenant initially agree is $9,240.00. If the cost to Landlord of electricity shall have been, or shall be, increased subsequent to September 1, 1991 (whether such increase occurs prior to or during the term of this Lease), by change in Landlord's electric rates, charges, fuel adjustment, or service classifications, or by taxes or charges of any kind imposed thereon, or for any other such reason, then the aforesaid ERIF portion of the Fixed Rent shall be increased in the same percentage.
Sample 1

Examples of Electricity Rent Inclusion Factor in a sentence

  • If and so long as Landlord provides electricity to the demised premises on a rent inclusion basis, Tenant agrees that the fixed annual rent shall be increased by the amount of the Electricity Rent Inclusion Factor ("ERIF"), as hereinafter defined.

  • If and so long as Lessor provides electricity to the demised premises on a rent inclusion basis, Lessee agrees that the fixed annual rent shall be increased by the amount of the Electricity Rent Inclusion Factor ("ERIF"), as hereinafter defined.

  • If and so long as Landlord provides electricity to the demised premises on a rent inclusion basis, Tenant agrees that the fixed annual rent shall be increased by the amount of the Electricity Rent Inclusion Factor ("ERIF), as hereinafter defined.

  • If and so long as Owner provides electricity to the demised premises on a rent inclusion basis, Tenant agrees that the fixed annual rent shall be increased by the amount of the Electricity Rent Inclusion Factor ("ERIF"), as hereinafter defined.

  • Anything contained herein to the contrary notwithstanding, Assignor shall be responsible for paying the "fixed annual rent" set forth in paragraph 46 of the Lease (exclusive of the Electricity Rent Inclusion Factor for the Premises under paragraph 41 of the Lease) plus the "Porter's Wage Escalation" plus the "Tax Escalation" under paragraph 33 of the Lease prior to the Rent Date.

  • If and so long as Landlord provides electricity to the demised Premises on a rent inclusion basis, Tenant agrees that the fixed annual rent shall be increased by the amount of the Electricity Rent Inclusion Factor ("ERIF"), as hereinafter defined.

  • Lessee agrees that the fixed annual rent shall be increased by the amount of the Electricity Rent Inclusion Factor ("ERIF"), as hereinafter defined.


More Definitions of Electricity Rent Inclusion Factor

Electricity Rent Inclusion Factor means the amount determined by applying the estimated connected electrical load and usage thereof in the Demised Premises (as the same may hereafter from time to time be determined by Landlord’s electrical consultant as hereinafter provided) to the rate charged for such load and usage in the service classification in effect on January 1, 1995 pursuant to which Landlord then purchased electric current for the entire Building from the public utility corporation. If the cost to Landlord of electricity shall have been, or shall be, increased subsequent to January 1, 1995 (whether such increase occurs prior to or during the Term of this Lease), by change in Landlord’s electric rates, charges, fuel adjustment, or service classifications, or by taxes or charges of any kind imposed thereon, or for any other such reason, then the aforesaid ERIF portion of the fixed rent shall be increased in the same percentage and the fixed rent shall be increased accordingly.
Sample 1
Electricity Rent Inclusion Factor means the amount determined by applying the estimated connected electrical load and usage thereof in the demised premises (as the same
Sample 1
Electricity Rent Inclusion Factor. (hereinafter defined and sometimes called the "ERIF") to compensate Landlord for the electrical wiring and other installations necessary for, and for its obtaining and making available to Tenant the redistribution of electric current to the demised premises as additional service, and (ii) the ERIF shall be subject to periodic adjustments as hereinafter provided. The "Electricity Rent Inclusion Factor" shall mean (x) the average on a per rentable square foot basis of the charges for electric current to the demised premises pursuant to subdivision 1 of this Article 46 (exclusive of the Overhead Charge) for the twelve (12) full calendar months preceding the month in which the provisions of this subdivision 2 shall become effective, multiplied by 23,976 plus six (6%) percent of the resulting total, or (y), if a complete twelve (12) calendar month period of office occupancy which accurately reflects Tenant's electrical usage in the demised premises is not available, then the amount determined by multiplying Landlord's Cost by Tenant's average kilowatt hour and average kilowatt demand usage (determined by a survey under this subdivision 2). If the provisions of this subdivision 2 shall be effective prior to the expiration of a period of twelve (12) full consecutive months during which Tenant is paying for electric energy to the demised premises pursuant to said subdivision 1 of this Article 46 (and no survey has yet been
Sample 1
Electricity Rent Inclusion Factor means (x) the average on a per rentable square foot basis of the charges for electric current to the demised premises pursuant to subdivision 1 of this Article 46 (exclusive of the Overhead Charge) for the twelve (12) full calendar months preceding the month in which the provisions of this subdivision 2 shall become effective, multiplied by 23,976 plus six (6%) percent of the resulting total, or (y), if a complete twelve (12) calendar month period of office occupancy which accurately reflects Tenant's electrical usage in the demised premises is not available, then the amount determined by multiplying Landlord's Cost by Tenant's average kilowatt hour and average kilowatt demand usage (determined by a survey under this subdivision 2). If the provisions of this subdivision 2 shall be effective prior to the expiration of a period of twelve (12) full consecutive months during which Tenant is paying for electric energy to the demised premises pursuant to said subdivision 1 of this Article 46 (and no survey has yet been
Sample 1

Related to Electricity Rent Inclusion Factor

  • Expansion Factor has the meaning ascribed thereto in Section 2.3(a);

  • Limited Indexation Factor means, in respect of a Limited Indexation Month or Limited Indexation Date, as the case may be, the ratio of the Index Figure applicable to that month or date, as the case may be, divided by the Index Figure applicable to the month or date, as the case may be, twelve months prior thereto, provided that (a) if such ratio is greater than the Maximum Indexation Factor specified in the relevant Final Terms, it shall be deemed to be equal to such Maximum Indexation Factor and (b) if such ratio is less than the Minimum Indexation Factor specified in the relevant Final Terms, it shall be deemed to be equal to such Minimum Indexation Factor;

  • Inflation Factor means a number determined for each tax year by dividing the consumer price index for June of the tax year by the consumer price index for June 2005.

  • Built-Up Area and/or “Covered Area” in relation to a Flat shall mean the floor area of that Flat including the area of balconies and terraces, if any attached thereto, and also the thickness of the walls (external or internal) and the columns and pillars therein Provided That if any wall, column or pillar be common between two Flats, then one-half of the area under such wall column or pillar shall be included in the built-up area of each such Flat.

  • 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.

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

  • Load Factor means the percentage of aircraft seats actually occupied on a flight (RPMs divided by ASMs). “NMB” means the National Mediation Board.

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

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or

  • 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.