Improvement Rent definition

Improvement Rent for each year during the Lease Term shall be equal to the product of (a) Seventeen and twenty-two one-hundredths percent (17.22%) multiplied by (b) the aggregate amount of the Additional Allowance actually distributed to or on behalf of Tenant as of the Improvement Rent Commencement Date (as defined below). The Improvement Rent shall commence on the Improvement Rent Commencement Date.
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Improvement Rent shall hereinafter include the Expansion Space Improvement Rent. In the event of a termination of the Lease prior to the Extension Term Expiration Date, the full unamortized amount of the Additional TI Allowance shall be automatically due and payable as Additional Rent by Tenant. In addition, the Shell Allowance shall be amortized in the same manner as the Additional TI Allowance, but the monthly amount of such amortization shall not be payable by Tenant. If the Lease is terminated prior to the Extension Term Expiration Date, then the full unamortized amount of the Shell Allowance shall be automatically due and payable as Additional Rent.
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Improvement Rent. (as defined below). As more fully described in the Work Letter, Landlord is making available to Tenant an allowance (the "CONSTRUCTION ALLOWANCE") to be used by Tenant solely for the costs of designing, permitting, and constructing the Greenhouse, which costs shall include, but not be limited to, payments to surveyors, engineers, architects, consultants, contractors, sub-contractors, and all other persons and laborers of every class providing services, performing labor, or furnishing skill or other necessary services used in or contributing to such construction, the cost of materials or equipment used or consumed in such construction, the cost (including legal and engineering fees and disbursements) of obtaining, maintaining, renewing, or revising permits, licenses, approvals, certificates, or other entitlements, premiums and fees for all insurance maintained by
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Examples of Improvement Rent in a sentence

  • The Tenant Improvement Rent shall not be increased by the CPI-U (only the Base Rent).

  • Notwithstanding anything to the contrary contained in the Lease, commencing on December 1, 2011, Tenant shall no longer be required to pay Improvement Rent and the provisions of Section 42 of the Lease shall have no further force or effect.

  • Any balance remaining after such twenty (20) day period will be subject to Tenant Improvement Rent payments.

  • While this is likely, such a bargain and benefit and burden do not preclude a gift.

  • On or before the twentieth (20th) day of each month during the Term, in accordance with and to the extent required by Section 4.3 and Exhibit “R”, Exhibit “R-3” or Exhibit “R-4”, as applicable, Tenant shall pay to Landlord (a) the Parking Improvement Rent based on Tenant Parking Improvement Revenue, (b) the Premises Surface Parking Rent based on the Premises Surface Parking Revenue and (c) the Surface Parking Improvements Rent based on the Surface Parking Improvement Revenue.

  • A Capital Improvement Rent Increase based on the rehabilitation or replacement of an existing Housing Service does not require approval by a vote of the Affected Mobile Home Owners prior to approval.

  • Landlord's Contribution (as defined in the Work Letter) for Tenant Improvements is $800,000; provided, however, Landlord agrees to finance the cost of the Tenant Improvements up to a maximum of $1,300,000.00 (the "Occupancy Improvement Rent").

  • In the event Tenant elects to receive the Additional TI Allowance, Tenant agrees to pay to Landlord, as Additional Rent, Expansion Space Improvement Rent as set forth in this Section 6.

  • Tenant shall have the option of amortizing the actual amount of the Occupancy Improvement Rent over ten (10) years at 10% per annum, or paying up front the actual Amortized Tenant Finish Amount.

  • If a modification has been requested, the narrative must also indicate the status of the modification request.


More Definitions of Improvement Rent

Improvement Rent means the amount determined in accordance with Section 5.3. 63 41.12. [Intentionally Omitted.] 41.13. [Intentionally Omitted.]
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Improvement Rent. Equal monthly installments of improvement rent equal to the monthly payment necessary to amortize fully the "EXCESS DISBURSED CONSTRUCTION ALLOWANCE" (as defined below) over a period of 120 months at an annual interest rate of 12.00%.
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Related to Improvement Rent

  • 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).

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Tenant Improvements Defined in Exhibit B, if any.

  • 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.

  • Landlord Work means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the “Work Letter”), if any, attached to this Lease as Exhibit C.

  • Tenant Improvement Allowance in the maximum amount of $200.00 per rentable square foot in the Premises, which is included in the Base Rent set forth in the Lease; and

  • Leasehold Improvements means all buildings, structures, improvements and fixtures located on any Leased Real Property which are owned by any Group Company, regardless of whether title to such buildings, structures, improvements or fixtures are subject to reversion to the landlord or other third party upon the expiration or termination of the Lease for such Leased Real Property.

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

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Current Rent means, in respect of each of the tenancies subject to which the lot is sold, the instalment of rent and other sums payable by the tenant in advance on the most recent rent payment date on or within four months preceding completion.

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

  • 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);

  • 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.

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Subleased Premises means all that portion of the Leased Premises referred to as airport lot as outlined on the site diagram attached as Schedule "A" to this Sublease; and

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.

  • Capital Improvement or "Capital Improvement Project" means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities of Local Subdivisions, including real property, interests in real property, and facilities and equipment of Local Subdivisions related or incidental thereto.

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

  • 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.

  • Improvements means the buildings, structures, improvements, and alterations now constructed or at any time in the future constructed or placed upon the Land, including any future replacements and additions.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • 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;

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

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

  • 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.