Excess Rents definition
Excess Rents means any and all rents, payments, charges and other considerations to be received by Tenant upon an assignment or subletting of all or any portion of the Premises which are in excess of the Rents payable by Tenant to Landlord under this Lease after the recovery by Tenant of reasonable and customary amounts for brokerage commissions, legal expenses, and tenant improvement costs, to the extent such items have been actually incurred by Tenant in connection with the subject assignment or sublease.
Excess Rents means any and all rents, payments, charges or other consideration received by Sublessee from a Transferee in excess of the Rent and Charges payable by Sublessee to Sublessor (calculated on a "per square foot" basis if less than the entire Premises is the subject of the Transfer) after recovery by Sublessee of the following ("Costs"): (a) all costs incurred in connection with the Transfer, including attorneys' fees, brokers' commissions, allowances, concessions, the cost of constructing improvements and the cost of Sublessee's performance under any sub-sublease (if other than a net lease), and (b) the unamortized cost of any improvements to or personal property (to the extent included for purposes of calculating "rent" under this Paragraph 15) the Premises constructed O. paid for by Sublessee (Sublessee hereby acknowledging that the Tenant Improvements will be fully amortized during the initial Sublease Term) in the portion of the Premises that is the subject of the Transfer, in each case, so long as the term of the Transfer is for the full Sublease Term (including any option to extend the Sublease Term which must be exercised by Sublessee pursuant to Sublessee's agreement with the Transferee). Otherwise, Sublessee shall only be entitled to recovery of a pro rata portion of the unamortized cost of its improvements amortized over the term of the Transfer. For the purposes of this Paragraph 15, the term "rent" shall include any consideration of any kind received, or to be received, by Sublessee (or from any subtenant of Sublessee) from the Transferee, if such sums are related to Sublessee's interest in this Sublease or in the Premises, including, but not limited to, key money and payments for Sublessee's personal property in excess of the unamortized cost or book value thereof. The term "personal property" as used in this subsection shall refer to fixtures, inventory, good will, equipment and furniture.
Excess Rents means all rent, additional rent and other consideration payable by such assignee or sublessee which either initially or over the term of the sublease or assignment exceeds the Rent or pro rata portion of the Rent, as the case may be, for such space reserved in the Lease. Tenant shall pay the Landlord monthly, as Additional Rent, at the same time as the monthly installments of Rent are payable hereunder, fifty percent (50%) of the Excess Rents after the recovery by Tenant of reasonable amounts for brokerage commissions, legal expenses, and Tenant Improvement costs to the extent such items have been incurred by Tenant in connection with the subject sublease or assignment."
Examples of Excess Rents in a sentence
For the purpose of calculating Excess Rents, the Sublease/Assignment Costs shall be amortized on a straight-lined basis over the term of the applicable sublease or assignment.
Minimum and Excess Rents shall be paid each year after December 31 but before January 15th.
Excess Rents for 2012 will be calculated from the 2012-13 crop year, initiated by the bloom of the Spring of 2012.
The Minimum Rents and Excess Rents shall be calculated by computational units in accordance with Schedule 13B attached hereto.
Owner will promptly pay to the City, when and if due pursuant to the Resale Restriction Agreement, the Excess Sales Proceeds and Excess Rents.
More Definitions of Excess Rents
Excess Rents means all Rents and other consideration payable by a subtenant or assignee to Sublessee in connection with the Transfer, less the cost incurred by Sublessee as set forth in Addendum Paragraph 14 of the Master Lease. Sublessor's waiver or consent to any assignment or subletting shall be ineffective unless set forth in writing, and Sublessee shall not be relieved from any of its obligations under this Sublease, unless the consent expressly so provides. Notwithstanding anything to the contrary contained in this Sublease or in the Master Lease, at Sublessor's sole option, Sublessor shall have the right to terminate this Sublease if Sublessee requests Sublessor's consent to an assignment of this Sublease or a sublet of fifty percent (50%) or more of the square footage comprising the Subleased Premises.
Excess Rents means all Rents and other consideration payable by a subtenant or assignee to Sublessee in connection with the Transfer, less the cost incurred by Sublessee as set forth in Section 15.2 of the Master Lease. Sublessor's waiver or consent to any assignment or subletting shall be ineffective unless set forth in writing, and Sublessee shall not be relieved from any of its obligations under this Sublease, unless the consent expressly so provides.
Excess Rents is defined as follows: sublease rent, less transaction costs incurred to obtain Subtenant, less amortization of Tenant's portion of leasehold improvements. Notwithstanding anything in this Paragraph to the contrary, the prior approval of the of the Landlord shall not be required for the assignment of the Lease to any corporation or business entity into or with which the Tenant is merged or consolidated or to which substantially all of the Tenant's assets or corporate stock are transferred provided that in any of such events (i) following any such transfer Tenant has, (or in the case of a merger or consolidation the successor to Tenant has) a creditworthiness adequate to meet its obligations hereunder; (ii) proof reasonably satisfactory to Landlord of such creditworthiness shall have been delivered to Landlord prior to the effective date of any such transfer or transaction; and (iii) in the case of a merger or consolidation, the successor agrees directly with Landlord, by written instrument in form reasonably satisfactory to Landlord, to be bound by all the obligations of Tenant hereunder, including, without limitation, the covenant against further assignment and subletting.
Excess Rents means all rents and other consideration payable by a subtenant or assignee to Subtenant in connection with the sublease or assignment in excess of the Rent payable by Subtenant hereunder, less the costs incurred by Subtenant to effect the sublease or assignment, including, without limitation, brokerage commissions, legal fees, refurbishment and redecorating costs, and the cost of all unamortized improvements installed by Subtenant. Nothing herein shall be deemed to permit Subtenant to pay to Sublandlord less than the Rent due under this Sublease in the event of an assignment or sublet.
Excess Rents means all Rents and other consideration payable by a subtenant or assignee to Sublessee in connection with the Transfer, less the brokerage and attorney’s fees incurred by Sublessee to obtain the Transfer. Sublessor’s waiver or consent to any assignment or subletting shall be ineffective unless set forth in writing, and Sublessee shall not be relieved from any of its obligations under this Sublease, unless the consent expressly so provides. Notwithstanding anything to the contrary in the provisions of the Master Lease incorporated herein by reference, Sublessor shall not exercise its right to terminate this Sublease pursuant to subpart (2) of incorporated Article XII.B of the Original Lease upon any assignment or subletting, unless Master Lessor exercises its right to terminate the Master Lease because of such assignment or subletting, and incorporated Article XII.E of the Master Lease shall only apply to a Transfer which is a “Permitted Transfer” under the Master Lease.
Excess Rents means all Rents and other consideration payable by a subtenant or assignee to Sublessee in connection with the Transfer (as more particularly described in Section 26 F. of the Master Lease), less any brokerage commissions, costs incurred by Sublessee with respect to alterations or improvements made to the portion of the Subleased Premises that is the subject of the Transfer, and reasonable attorneys' fees incurred by Sublessee in connection with the Transfer. Notwithstanding anything to the contrary contained in this Sublease or in the Master Lease, (i) Sublessee may assign this Sublease or sublet the Premises, or any portion thereof, without Sublessor's consent, to (a) any entity which controls, is controlled by, or is under common control with Sublessee, (b) to any entity which results from a merger of, reorganization of, or consolidation with Sublessee, or (c) to any entity which acquires substantially all of the stock or assets of Sublessee, as a going concern, with respect to the business that is being conducted in the Premises; provided that in each of the foregoing Transfers, the net worth of the surviving entity is equal to or greater than that of the Sublessee immediately prior to the date of the Transfer, (ii) Sublessee shall reimburse Sublessor and Master Lessor for all costs and expenses incurred by them in considering any request by Sublessee to a Transfer, and (iii) a bona fide public or private offering of the capital stock of Sublessee shall not be deemed a Transfer.
Excess Rents means all Rents and other consideration payable by a subtenant or assignee to Sublessee in connection with the Transfer, less any excess rent that is payable to Lessor pursuant to the Master Lease and any brokerage commissions and reasonable attorneys' fees incurred by Sublessee in connection with the Transfer.