Net Effective Rental definition

Net Effective Rental means for purposes of this Section 14.6(c), with respect to any proposed sublease of the space which was the subject of such Offer Notice, the net present value, determined as of the effective date of the proposed sublease, using a discount rate of eight and one-half percent (8.5%), of the aggregate of all rent and additional rent of any nature payable under the proposed sublease, discounted from the date such payment would have been made under the proposed sublease to the commencement date of the proposed sublease, after deducting therefrom the amount of all inducements (such as, by way of example only, work allowances, work letters or rent abatements) that are (or will be) granted by Tenant to such subtenant in respect thereof, discounted, using a discount rate of eight and one-half percent (8.5%), from the date that such inducements were to have been given under the proposed sublease to the commencement date of the proposed sublease.
View Source
Net Effective Rental means, with respect to any desired or actual sublease, one year’s worth of the amortized cash flow which would be derived from such sublease, determined by spreading the Net Present Rent Value of such sublease ratably on a monthly basis over the term of such desired or actual sublease using the Interest Rate in effect as of the date of Tenant’s Offer Notice. “Net Present Rent Value” means, with respect to any such sublease, the net present value, determined as of the desired or actual commencement date of such desired or actual sublease, using a discount rate of the Interest Rate in effect as of the date of Tenant’s Offer Notice, of the aggregate of all rent and additional rent (other than any escalation rent calculated by determining increases over a base year or base amount, which shall be addressed pursuant to clause (ii) above of this Section 5.02(f)) payable to Tenant under the desired or actual sublease, discounted from the date that any such payment would have been made under such desired or actual sublease to the commencement date of such desired or actual sublease, after deducting therefrom the amount of all tenant inducements (such as, by way of example only, direct payments, work allowances, work letters and rent abatements) that are (or will be) granted to the subtenant thereunder, discounted from the date that such tenant inducements were to have been given to the commencement date of such desired or actual sublease.
View Source
Net Effective Rental means for purposes of this Section 14.6 and Section 14.7 hereof, with respect to any proposed assignment of the lease as provided in such Offer Notice, the net present value, determined as of the effective date of the proposed assignment, using a discount rate of ten percent (10%), of the aggregate of all payments of any nature, discounted from the date such payment would have been made under the proposed assignment to the effective date of such assignment, after deducting therefrom the amount of all inducements (such as, by way of example only, work allowances, work letters or rent abatements) that are (or will be) granted by Tenant to such assignee in respect thereof, discounted, using a discount rate of ten percent (10%), from the date that such inducements were to have been given to the effective date of such assignment.
View Source

Examples of Net Effective Rental in a sentence

  • If Landlord desires to lease such Refusal Space at a Net Effective Rental Rate (hereinafter defined) less than ninety percent (90%) of the Net Effective Rental Rate offered to Tenant in the related Third Party Offer Notice or the size or configuration of the Refusal Space changes in any material respect, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms or adjusted Refusal Space.

  • The term "Net Effective Rental Rate" shall mean the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions contained in the First Refusal Notice.

  • If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety-five percent (95%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms.

  • If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety-five percent (95%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Building 10 Offer Space Notice hereunder on such lower terms.

  • Notwithstanding the foregoing, if Landlord desires to lease the entire office space at a Net Effective Rental Rate less than ninety percent (90%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms.

  • If Tenant does not exercise such right to lease the Offer Space, then Landlord shall have the right to lease such space to another prospective tenant for a net effective rental rate which is not less than ninety percent (90%) of the Net Effective Rental Rate (hereinafter defined) offered to Tenant in the related Offer Notice.

  • At any time during the term of the Loan, Administrative Agent and/or any Lender may request confirmation from Borrower of the ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ footage of net rentable area at the Property that is leased pursuant to Leases of less than 15,000 square feet executed by Borrower without Administrative Agent’s consent and under which the Net Effective Rental Rate is less than eighty-five percent (85%) of the amount assumed for such Lease in the then most recent Appraisal.

  • If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety percent (90%) of the rental rate offered to Tenant, then such space shall again be offered to Tenant by a new Offer Notice hereunder on such lower rent terms.


More Definitions of Net Effective Rental

Net Effective Rental shal1 mean the constant net effective rental payable for the portion of the balance of the Term covered thereby, taking into account all applicable Business Terms and calculated on the basis of an interest factor of the then-current Prime Rate.
View Source
Net Effective Rental means the Basic Monthly Rent to be charged by Landlord for the Offer Space, as increased or decreased by (i) the cost, or the lack thereof, of any tenant improvement allowance or other economic inducement offered by Landlord, (ii) the cost, or the lack thereof, of any brokerage or other commissions, and (iii) any other costs to Landlord which are unique to the proposed lessee of the Offer Space (hereinafter the “Costs”), which costs shall be amortized over the term of the Offer Space an either added to or subtracted from the Basic Monthly Rent, as applicable.
View Source
Net Effective Rental means, with respect to any desired or actual sublease, the net present value, determined as of the desired or actual commencement date of the desired or actual sublease, using a discount rate of the Base Rate in effect as of the date of Tenant’s Offer Notice plus 2%, of the aggregate of all rent and additional rent (other than any escalation rent calculated by determining increases over a base year or base amount) payable to Tenant under the desired or actual sublease, discounted from the date that any such payment would have been made under the desired or actual sublease to the commencement date of such desired or actual sublease, after deducting therefrom the amount of all tenant inducements (such as, by way of example only, direct payments, work allowances, work letters and rent abatements) that are (or will be) granted to the subtenant thereunder, discounted, using a discount rate of the Base Rate in effect as of the date of Tenant’s Offer Notice plus 2%, from the date that such tenant inducements were to have been given under the desired or actual sublease to the commencement date of such desired or actual sublease.
View Source
Net Effective Rental when used herein shall mean, with respect to any proposed lease of ROFO Space, the net present value, determined as of the effective date of the proposed lease, using a discount rate of six percent (6%) of the aggregate of all Rent and additional rent for Taxes and Operating Expenses (as reasonably estimated at the time) payable under the proposed lease, discounted from the date such payment would have been made under the proposed lease, after deducting therefrom the amount of all inducements (such as, by way of example only, work contributions or rent credits) that are (or will be) granted by Landlord to such tenant in respect thereof, discounted, using a discount rate of six percent (6%), from the date that such inducements were to have been given under the proposed lease to the commencement date of the proposed lease.
View Source
Net Effective Rental as defined in Section 14.6(c) and (d).
View Source

Related to Net Effective Rental

  • Assignment Effective Date as defined in Section 10.6(b).

  • Contract Effective Date ’ means the date agreed upon by the parties for be- ginning the period of performance under the contract. In no case shall the effective date precede the date on which the contracting officer or des- ignated higher approval authority signs the document. Costs incurred be- fore the contract effective date are un- allowable unless they qualify as precontract costs (see FAR 31.205–32) and the clause prescribed at 1831.205–70 is used.

  • 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

  • Lease Termination Date means the last day of the Lease Term.

  • Settlement Effective Date means the date on which the Final Order is Final, provided that by such date the Settlement has not been terminated in accordance with Article 11.