Excess Rental definition

Excess Rental means all rent or other consideration paid or payable by such Transferee to Tenant in consideration for any such Transfer; and all rents received by Tenant from Transferee in connection with the Transfer in excess of the Rent payable by Tenant under this Lease (on a monthly basis during the Term, and on a per rentable square foot basis, if less than all of the Premises is transferred), after deducting Permitted Transfer Costs. As used herein, “Permitted Transfer Costs” means the actual third-party, out-of-pocket costs incurred and paid by Tenant for (i) any leasing commissions in connection with the Transfer and reasonable legal fees and expenses of documenting the lease assignment or sublease, and (ii) any alterations to the Premises made by Tenant in connection with the Transfer. For purposes of calculating the Excess Rental when the Excess Rental is not paid to Tenant in a lump sum, all Permitted Transfer Costs shall be amortized on a straight-line basis, without interest, over the relevant term of the Transfer. The portion of the Excess Rental due Landlord hereunder shall be paid within ten (10) days after Tenant receives any Excess Rental from the Transferee.
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Excess Rental means the rent or other consideration received by LESSEE from the subtenant in excess of the amount of Base Rent, additional rent and other charges payable by LESSEE under this Lease. In no event shall this provision be construed or applied to reduce the Base Rent or other charges payable by LESSEE under this Lease, nor modify, waive or otherwise affect LESSOR's entitlement to increase the rentals payable under this Lease pursuant to Paragraph 12.1
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Excess Rental. With respect to any sublease entered into by Tenant with Landlord's consent as herein provided, if the rent and other compensation paid by the subtenant to Tenant under such sublease, and all agreements and other instruments pertaining in any way thereto, exceeds the Rent being paid by Tenant to Landlord computed on a square foot basis (i.e., the amount by which the rent and other compensation being paid by the subtenant to Tenant exceeds the Rent being paid by Tenant to Landlord under this Lease for each square foot leased by such subtenant) then Landlord will be entitled to the amount of such excess ("Excess Rent") and Tenant will pay to Landlord such Excess Rent within five (5) days after receipt by Tenant of the same. If Tenant receives any fee, bonus or other payment (whether payable in one or more installments) from any assignee or sublessee as partial consideration for the making of such sublease or assignment ("Bonus Payment"), the entire amount of such Bonus Payment shall be paid over to Landlord as additional rent hereunder. Notwithstanding the foregoing, Tenant shall be entitled to receive from any Excess Rent or Bonus Payment otherwise required to be paid to the Landlord the amount of out-of-pocket expenses actually incurred by Tenant for reasonable and customary brokerage commissions, tenant improvements, non-monetary lease concessions or other expenses in connection with sublease or assignment provided Tenant delivers sufficient evidence of such expenses to Landlord.
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Examples of Excess Rental in a sentence

  • The Owner further agrees that, in the event the Owner rents or leases the Home to a third party in violation of this Section 3B, any excess rents ("Excess Rental Proceeds") paid to the Owner by the lessee over the "Affordable Rent" shall be due and payable to the City immediately upon receipt thereof by the Owner.

  • In such event, the Fixed Rent and Additional Rent payable by Sublessee to Sublessor under this Sublease for the balance of the Sublease Term shall be increased by an amount equal to the Excess Rental.

  • Fifty percent (50%) of the amount by which any rentals, fees and charges from time to time received by Sublessee in connection with any such assignment or sublease (after first netting out any reasonable brokerage and re-letting expenses actually incurred by Sublessee), exceed the Fixed Rent and Additional Rent payable to Sublessor hereunder (hereinafter referred to as "Excess Rental") shall be paid immediately by Sublessee to Sublessor as Additional Rent under this Sublease.

  • Such Excess Rental Proceeds shall be considered a recourse debt of the Owner to the City, as evidenced by the Note, which the City may collect by legal action against the Owner, including by foreclosure under the City Deed of Trust.

  • Excess Rental ------------- Tenant hereby assigns, transfers, and conveys all consideration received by Tenant under any Transfer, which is in excess of the rents payable by Tenant under the Lease, and Tenant shall hold such amounts in trust for Landlord and pay them to Landlord within ten days after receipt by Tenant.

  • Except in the event of a Transfer pursuant to Section 10.01F, if Landlord consents to a Transfer, Tenant shall pay to Landlord fifty percent (50%) of Excess Rental derived from such Transfer.

  • The term "Excess Rental" means the rent or other consideration received by LESSEE from the subtenant in excess of the amount of Base Rent, additional rent and other charges payable by LESSEE under this Lease.

  • The portion of the Excess Rental due Landlord hereunder shall be paid within ten (10) days after Tenant receives any Excess Rental from the Transferee.

  • For purposes of calculating the Excess Rental when the Excess Rental is not paid to Tenant in a lump sum, all Permitted Transfer Costs shall be amortized on a straight-line basis, without interest, over the relevant term of the Transfer.

  • During any Extended Term of this Lease, Tenant shall pay Landlord seventy percent (70%) of "Excess Rental Proceeds" received from subleases by Tenant to third parties (excluding the Landlord or its affiliates).


More Definitions of Excess Rental

Excess Rental means all the consideration payable to Subtenant by any assignee, subtenant or transferee that exceeds the Rent payable under this Sublease less (i) reasonable leasing commissions; (ii) payment attributable to the amortization of the cost of improvements made to the Subleased Premises at Subtenant’s cost; and (iii) any other reasonable, documented out-of-pocket costs related to Subtenant securing an assignee, subtenant or assignee. Excess rental shall not include any consideration received by Subtenant in connection with an assignment arising from a sale of substantially all of Subtenant’s assets or stock or payments. In addition, if Sublandlord has incurred any adverse monetary impacts from the cap on Subtenant’s obligation to pay its pro rata share of Additional Rent as set forth in Section 3.3 above, then Subtenant shall reimburse Sublandlord for all such amounts on the effective date of an assignment, sublease or other transfer, and thereafter, the cap on increases in Subtenant’s pro rata share of Additional Rent shall be null and void.
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Excess Rental shall include rental payable to Tenant pursuant to such assignment or sublease in excess of the rental payable under the Leases.
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Excess Rental means that sum paid by the subtenant which is in excess of the sum of (a) the rental paid by HPC to Mebane hereunder for such Premises, or portion thereof, plus (b) all fees and expenses incurred by HPC in connection with securing such subtenant including, without limitation, brokerage fees, legal expenses, marketing and advertising expenses and costs relating to renovating or constructing the Premises. The provisions of this Section 13.4 shall not apply to a sublease permitted under Section 13.1 or Section 13.2 hereof.
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Related to Excess Rental

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Additional Rental has the meaning set forth in Section 4.03.

  • 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.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.