Improvement Rent definition

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 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 means the amount determined in accordance with Section 5.3. 63 41.12. [Intentionally Omitted.] 41.13. [Intentionally Omitted.]
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Examples of Improvement Rent in a sentence

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

  • 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.

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

  • 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 exercises the Lease Buyout Right, then within sixty (60) days after delivery of the Buyout Notice, Tenant shall pay to MAC an amount equal to all Ground Rent, Building Rent, Tenant Improvement Rent, and Restoration Fee that would have accrued after the Early Termination Date through the remaining Term, had this Lease not been terminated pursuant to the Lease Buyout Right (the “Accelerated Rent”).

  • In the event any prepayment of Landlord's loan would result in the additional payment of prepayment penalties, and Tenant elects to prepay the Occupancy Improvement Rent, in addition to the Occupancy Improvement Rent, Tenant shall pay such prepayment penalties.

  • For purposes of the Lease, the term “Improvement Rent” shall hereinafter include the Expansion Space Improvement Rent.

  • No Improvement Rent shall be payable by Tenant during the Extension Term.

  • During any Term Extension, no Base Rent and no Improvement Rent shall be payable; all other Rent shall remain payable on the same terms and conditions as this Lease.

  • MAC and Tenant have agreed to have Tenant repay the $5.4 million over the course of 114 months, with monthly payments starting as of the first day of the seventh month following the Effective Date as follow: DESCRIPTION AMOUNT INTEREST RATE MONTHLY ANNUALLY TI Rent $ 5,400,000 5.75 % $ 61,588.58 $ 739,062.97 The Tenant Improvement Rent is subject to adjustment based upon the final amount of tenant improvement dollars MAC actually funds, not to exceed $5.4 million.


More Definitions of Improvement Rent

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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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 leasehold improvements situated in or on the Leased Real Property and owned by Seller.

  • Base Rent As defined in Section 3.1.

  • 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.

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

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • 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 such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • 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 shall have the meaning set forth in the granting clause of the Mortgage.

  • 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.

  • 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.