Expansion Lease Year definition

Expansion Lease Year means each consecutive twelve (12) month period during the Expansion Term; provided, however, that the first (1st) Expansion Lease Year shall commence on the Expansion Commencement Date and end on the last day of the month in which the first anniversary of the Expansion Commencement Date occurs (or if the Expansion Commencement Date is the first (1st) day of a calendar month, then the first (1st) Expansion Lease Year shall commence on the Expansion Commencement Date and end on the day immediately preceding the first (1st) anniversary of the Expansion Commencement Date), and further provided that the last Expansion Lease Year shall end on the Expansion Expiration Date. ** The calculation of the Monthly Base Rent per Rentable Square Foot reflects an annual increase of 2%, rounded to the nearest cent, after the previous Expansion Lease Year. Concurrently with Tenant’s execution of this First Amendment, Tenant shall pay to Landlord the Base Rent and Tenant’s Share of Direct Expenses payable for the Expansion Premises for the first full month of the Expansion Term (i.e., Forty-Four Thousand Eight Hundred Seventy-Three and 00/100 Dollars ($44,873.00)).
Sample 1
Expansion Lease Year means a period of twelve (12) consecutive months, except that the tenth Expansion Lease Year shall end on the Extended Expiration Date (without regard to its length). The first Expansion Lease Year shall commence on the Expansion Premises Commencement Date; provided, however, that, notwithstanding the first sentence of this subparagraph, if the Expansion Premises Commencement Date is not the first day of a month, then the first Expansion Lease Year shall also include the additional period from the Expansion Premises Commencement Date to the end of the then current month. Each succeeding Expansion Lease Year shall end on the anniversary date of the last day of the preceding Expansion Lease Year, except that the tenth Expansion Lease Year shall end on the Extended Expiration Date. For example, if the Expansion Premises Commencement Date is November 1, 2006, then the first Expansion Lease Year would begin on November 1, 2006 and end on October 31, 2007, and each succeeding Expansion Lease Year would begin on November 1st and end on October 31st, except that the tenth Expansion Lease Year would end on November 30, 2016. If, however, the Expansion Premises Commencement Date is November 2, 2006, then the first Expansion Lease Year would begin on November 2, 2006 and end on November 30, 2007, the second Expansion Lease Year would begin on December 1, 2007 and end on November 30, 2008, and each succeeding Expansion Lease Year would begin on December 1st and end on November 30th (and the tenth Expansion Lease Year would end on November 30, 2016). Should the Expansion Premises Rent Commencement Date be a date other than the first day of a calendar month, Tenant shall pay a pro rata portion of the Expansion Rent on a per diem basis (at the rate of $430.26 per day), on account of said partial month. The Expansion Rent payable for said partial month shall be in addition to the Expansion Rent payable for the first Expansion Lease Year pursuant to the schedule set forth above. For all other purposes of the Lease, Expansion Rent shall be treated as Rent, and Landlord shall have the same rights and remedies with respect to the non-payment or delinquent payment of Expansion Rent as does Landlord with respect to the non-payment or delinquent payment of Rent. Notwithstanding anything to the contrary contained herein, provided Tenant is not then in default under the Lease (beyond any applicable notice and grace period provided in the Lease for the cure thereof), Tenant shall b...
Sample 1
Expansion Lease Year means each twelve (12) month period beginning on the Expansion Commencement Date and on each anniversary thereof, provided that the Expansion Lease Year 6 shall end on the Term Expiration Date as extended pursuant to Paragraph 2 below. Notwithstanding the foregoing, as an inducement for Tenant to enter into and faithfully to perform its obligations under this Amendment, so long as Tenant is not in default under the Lease (as amended hereby) continuing beyond any applicable notice and cure period, Landlord shall waive payment of Annual Fixed Rent with respect to the Expansion Area for the period commencing on the Expansion Commencement Date and ending on the date that is three (3) months following the Expansion Commencement Date (the “Expansion Term Waiver Period”) (in an amount equal to $60,079.00 in the aggregate). Tenant shall make full payment of Annual Fixed Rent (i.e., the prorated amount) with respect to the Expansion Premises at the beginning of the calendar month in which such Expansion Term Waiver Period expires for the portion of such calendar month after the end of such Expansion Term Waiver Period. Except as set forth in this Amendment, all payments of Annual Fixed Rent and additional charges for the Expansion Premises (including, without limitation, additional charges for electricity under Section 2.7 of the Lease) shall be paid at the times and in the manner set forth in Sections 2.5, 2.6 (as modified below for the Expansion Premises), and 2.7 of the Lease.
Sample 1

Examples of Expansion Lease Year in a sentence

  • In all subsequent Base Rent payment periods during the Expansion Term commencing on the first (1st) day of Expansion Lease Year 2, the calculation of each Annual Base Rent amount reflects an annual increase of three percent (3%) and each Monthly Installment of Base Rent amount was calculated by dividing the corresponding Annual Base Rent amount by twelve (12).

  • The annual rent amount (payable in twelve (12) equal monthly installments) for the first (1st) Second Expansion Lease Year (as defined in Section 1.E. of this Lease) shall be determined based upon the total amount of all of Landlord’s Project Costs (as defined below) multiplied by nine and one-quarter percent (9-1/4%).

  • For the purposes of computing the Expansion Base Rent Adjustment, Base Rent for the Expansion Space for the first Expansion Lease Year shall be computed to be the actual Expansion Costs multiplied by 1.09 and thereafter multiplied by the Financing Constant.

  • If the Delivery Date is a day other than the first day of a month, the first Expansion Lease Year will end on the last day of the month in which the first anniversary of the Delivery Date occurs.

  • TO THE EXTENT APPLICABLE, THIS AGREEMENT SHALL BE GOVERNED BY THE UNIFORM COMMERCIAL CODE OF THE STATE OF CALIFORNIA (OR TO THE EXTENT APPLICABLE TO THE ATTACHMENT, PERFECTION, PRIORITY OR ENFORCEMENT OF THE SECURITY INTERESTS IN ANY COLLATERAL, THE UNIFORM COMMERCIAL CODE OF ANY OTHER STATE).

  • If the Delivery Date is the first day of a month, the first Expansion Lease Year will end twelve (12) full calendar months after the Delivery Date.

  • Further, the aforementioned annual increases in monthly rental shall also apply to the First Expansion Space, with each annual increase in monthly rental being in the amount equal to three percent (3%) of the monthly rental being paid in the immediately prior First Expansion Lease Year, with the first (1st) increase on the first (1st) day of the second (2nd) First Expansion Lease Year.

  • Similarly, the aforementioned annual increases in monthly rental shall also apply to the Second Expansion Space, with each annual increase in monthly rental being in the amount equal to three percent (3%) of the monthly rental being paid in the immediately prior Second Expansion Lease Year, with the first (1st) increase on the first (1st) day of the second (2nd) Second Expansion Lease Year.

  • The amount of the Expansion Base Rent Adjustment shall be the amount by which the Base Rent for the Expansion Space for the first Expansion Lease Year provided in Section 3.1(d) above is more or less than the Base Rent calculated in the preceding sentence.

  • Each subsequent Expansion Lease Year shall commence on the day immediately following the last day of the preceding Expansion Lease Year, and shall continue for a period of twelve (12) full calendar months.


More Definitions of Expansion Lease Year

Expansion Lease Year means the one-year period beginning on the Expansion Premises Rent Commencement Date (as defined in the First Amendment) and each consecutive one-year period thereafter, except that (A) if the Expansion Premises Rent Commencement Date shall not occur on the first day of a calendar month, then Expansion Lease Year 1 shall also include the partial calendar month during which the first (1st) anniversary occurs (i.e., the period of such calendar month after such first anniversary), and (B) Expansion Lease Year 8 shall mean the partial year period beginning on the day after the expiration of Expansion Lease Year 7 and ending on the New Expiration Date.
Sample 1
Expansion Lease Year means each consecutive twelve (12) month period during the Expansion Term; provided, however, that the first (1st) Expansion Lease Year shall commence on the Expansion Commencement Date and end on the last day of the month in which the first anniversary of the Expansion Commencement Date occurs (or if the Expansion Commencement Date is the first (1st) day of a calendar month, then the first (1st) Expansion Lease Year shall commence on the Expansion Commencement Date and end on the day immediately preceding the first (1st) anniversary of the Expansion Commencement Date), and further provided that the last Expansion Lease Year shall end on the New Expiration Date.
Sample 1
Expansion Lease Year means a period of twelve (12) consecutive months following the 15,470 Expansion Premises Rent Commencement Date. The first Expansion Lease Year shall commence on the 15,470 Expansion Premises Rent Commencement Date; provided, however, that, notwithstanding the first sentence of this subparagraph, if the 15,470 Expansion Premises Rent Commencement Date is not the first day of a calendar month, then the first Expansion Lease Year shall also include the additional period from the 15,470 Expansion Premises Rent Commencement Date to the end of the calendar month in which occurs the 15,470 Expansion Premises Rent Commencement Date. Each succeeding Expansion Lease Year shall end on the anniversary date of the last day of the preceding Expansion Lease Year. For example, if the 15,470 Expansion Premises Rent Commencement Date is December 1, 2014, then the first Expansion Lease Year would begin on December 1, 2014 and end on November 30, 2015, and each succeeding Expansion Lease Year would begin on December1st and end on November 30th. If, however, the 15,470 Expansion Premises Rent Commencement Date is December 2, 2014, then the first Expansion Lease Year would begin on December 2, 2014 and end on December 31, 2015, the second Expansion Lease Year would begin on January 1, 2016 and end on December 31, 2016, and each succeeding Expansion Lease Year would begin on January 1st and end on December 31st.
Sample 1

Related to Expansion Lease Year

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Base Year means the period set forth in Section 5 of the Summary.

  • 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.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Extension Term means the time period defined in §2.C.

  • Base Rent As defined in Section 3.1.

  • Minimum Rent means Forty-Four Million Four Hundred Eleven Thousand Six Hundred Eighteen and 00/100ths Dollars ($44,411,618.00), subject to adjustment as provided in Section 3.1.1(b).

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Expansion Project has the meaning set forth in Section IV.3.a of this Agreement.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

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

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • 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.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • 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.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

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

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • 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.

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.