Holdover Premium definition

Holdover Premium means the lesser of the following: (i) $27,320.42; or (ii) the amount, if any, by which the rental for the premises currently occupied by Tenant that is due for the month of April, 1999 (determined in accordance with the good faith arrangements in effect between Tenant and its current landlord) exceeds $27,320.42. Subject to the obligation of Landlord to pay any Holdover Premium to Tenant, any termination of this Lease by Tenant pursuant to this subparagraph shall be Tenant's sole and exclusive remedy for Landlord's failure to complete the such work and tender possession of the Premises to Tenant.
Holdover Premium means the amount of $18,750 per month, which is the penalty amount required to be paid by Tenant over and above the amount of rent that is otherwise payable by Tenant each month during the last year of the term under Tenant’s Existing Lease in order for Tenant to hold over in their current space. Landlord shall, however, only be responsible for the payment of the Holdover Premium on a month-to-month basis for any period that Substantial Completion of Tenant’s Work is delayed beyond December 31, 2014, solely as a result of Landlord Delays. Tenant represents and warrants to Landlord that the Holdover Premium shall be due and payable by Tenant under Tenant’s Existing Lease if Tenant holds over. If Tenant agrees to any amendments or modifications to Tenant’s Existing Lease which in any way increases or results in an increase in the Holdover Premium, Tenant shall be solely responsible for paying the increased portion of such Holdover Premium. Payment of the Holdover Penalty for any fractional calendar month shall not be prorated unless the Holdover Premium is permitted to be prorated under Tenant’s Existing Lease. Notwithstanding anything to the contrary contained herein, Tenant shall be responsible for the payment of any and all Holdover Premiums payable under Tenant’s Existing Lease, if any, prior to December 31, 2014. Except as set forth in the Work Letter or otherwise expressly provided in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any access to or occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent or Operating Expenses. Landlord shall deliver the Premises with the roof and Required Systems (as defined in the Work Letter) in good working order and condition as of the Commencement Date. For the period of 90 days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Se...
Holdover Premium means the excess, if any, of: (x) the amount which Tenant is actually required to pay to the Existing Landlord with respect to Tenant’s occupancy under the Existing Lease during the Holdover Period pursuant to the Existing Lease, over (y) the amount which Tenant would have been required to pay to the Existing Landlord with respect to its occupancy of the Existing Premises during the Holdover Period had the term of the Existing Lease been extended for the Holdover Period at the same fixed rental and other charges payable by Tenant to the Existing Landlord immediately prior to the commencement of the Holdover Period. In no event shall the Holdover Premium include consequential, incidental, indirect, or other damages, or loss of income or loss of profit, whether claimed by the Existing Landlord or anyone else.

Examples of Holdover Premium in a sentence

  • In such event, Licensor shall reimburse Licensee for the Holdover Premium actually required to be paid by Licensee pursuant to the Licensee’s Existing Lease until Licensor delivers the Licensed Premises.

  • Licensee represents and warrants to Licensor that the Holdover Premium shall be due and payable by Licensee under Licensee’s Existing Lease if Licensee holds over.

  • In no event shall the Holdover Premium required to be paid by Landlord exceed $144,192.10 per month of the Holdover Period.

  • In the event that any increased holdover rental or other premium is charged to Sublandlord under a Replacement at the expiration or earlier termination of the term or maturity date thereof (herein, collectively, a "Holdover Premium"), if Subtenant is then in possession of the Subleased Premises or any portion thereof, Subtenant shall be required to pay Subtenant's Building Share thereof.

  • For the purposes hereof, “Tenant’s Holdover Damages” shall be equal to the Holdover Premium, as hereinafter defined, payable by Tenant to its Existing Landlord, as hereinafter defined, during the Holdover Period.

  • If Licensee agrees to any amendments or modifications to Licensee’s Existing Lease which in any way increases or results in an increase in the Holdover Premium, Licensee shall be solely responsible for paying the increased portion of such Holdover Premium.

  • The "Holdover Premium" shall be the amount of rent required to be paid by Tenant to its current landlord during the Holdover Period which is at a rate that is in excess of the rate payable immediately prior to the end of Tenant's existing lease (i.e., the rate payable during December, 2017).

  • The special project categories he identified are as follows:Project work ST = Working on the 2013 special projectProject work OTCall Out OT = “ “ “ “ “ “ Holdover Premium = Overtime during captive pay statusThe total amount of Mr. M’s compensation for these special project categories in 2013 was $17,692.87.17 Mr. M acknowledged that his 2014 earnings would reflect a very small amount of pay from the special project, but only because he had to wrap up some final tasks.

  • Upon any termination of this Lease as provided in this Section 2(b), Landlord shall return the Security Deposit and prepaid Rent to Tenant and neither party shall have any further rights or obligations hereunder except for accrued Holdover Premium and Substitution Lease Costs and those obligations that expressly survive the termination of this Lease.

  • If Tenant agrees to any amendments or modifications to Tenant’s Existing Lease which in any way increases or results in an increase in the Holdover Premium, Tenant shall be solely responsible for paying the increased portion of such Holdover Premium.

Related to Holdover Premium

  • 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.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

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

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

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

  • 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.

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

  • Regular Premium means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Premium Paying Term, in amount and at the Premium Payment Frequency, both, as specified in the Schedule.

  • Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.

  • Minimum Rent means the sum of Thirty-Three Million, Six Hundred Seventy-Nine Thousand, Seven Hundred Sixteen and 55/100 Dollars ($33,679,716.55) per annum.

  • Annual Premium means an amount specified in the Schedule, which is payable under the annual Premium payment mode under this Policy, excluding Extra Premium, if any and excluding service tax or any other taxes, cesses or levies, if any;

  • Room Rent Means the amount charged by a hospital for the occupancy of a bed on per day (24 hours) basis and shall include associated medical expenses.

  • Percentage Rent As defined in Subsection 3.1(b).

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

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

  • 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.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • 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.

  • Sublease Payment means any payment required to be made by the District pursuant to Section 7 of the Sublease.

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • 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.

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

  • 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

  • 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).

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.