Net Effective Rental definition

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.
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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.
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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.
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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.

  • At any time during the term of the Loan, Administrative Agent and/or any Lender may request confirmation from Borrower of the xxxxxxxxx xxxxxx 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-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.

  • 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.

  • 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.


More Definitions of Net Effective Rental

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.
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Net Effective Rental as defined in Section 14.6(c) and (d).
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Net Effective Rental means for purposes Portions of this Exhibit, indicated by the xxxx “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. of this Section, with respect to any proposed lease of ROFO Offered Space, the net present value, determined as of the effective date of the proposed sublease, using a discount rate of [***] percent ([***]%), of the aggregate of all Base Rent, Expense Rent, Parking Charges and Subtenant Surcharges 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 Sublandlord to such subtenant in respect thereof, discounted, using a discount rate of [***] percent ([***]%), from the date that such inducements were to have been given under the proposed sublease to the commencement date of the proposed sublease.
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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.
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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.
Sample 1
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.
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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 beginning the period of performance under the contract. In no case shall the effective date precede the date on which the contracting officer or designated higher approval authority signs the document.

  • 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:

  • 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.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Agreement Effective Period means, with respect to a Party, the period from the Agreement Effective Date to the Termination Date applicable to that Party.

  • Additional Effective Date means the date the Additional Registration Statement is declared effective by the SEC.

  • Target Effective Date has the meaning specified in Section 2.01(a).

  • 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).

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

  • Agreement Effective Date means the date on which the conditions set forth in Section 2 have been satisfied or waived by the appropriate Party or Parties in accordance with this Agreement.

  • Restatement Effective Date means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance with Section 9.02).

  • Cost-effective means that the expenditures pursuant to

  • Fair Rental Value as used in this Lease, shall be equal to the annual rent per rentable square foot (including additional rent and considering any “base year” or “expense stop” applicable thereto), including all escalations, at which tenants (pursuant to leases consummated within the twelve (12) month period preceding the first day of the Option Term), are leasing non-sublease, non-encumbered, non-equity space which is not significantly greater or smaller in size than the subject space, with a comparable level of improvements (excluding any property that Tenant would be allowed to remove from the Premises at the termination of the Lease), for a comparable lease term, in an arm’s length transaction, which comparable space is located in the “Comparable Buildings,” as that term is defined in this Section 2.2.2, below (transactions satisfying the foregoing criteria shall be known as the “Comparable Transactions”), taking into consideration the following concessions (the “Concessions”): (a) rental abatement concessions, if any, being granted such tenants in connection with such comparable space; (b) tenant improvements or allowances provided or to be provided for such comparable space, and taking into account the value, if any, of the existing improvements in the subject space, such value to be based upon the age, condition, design, quality of finishes and layout of the improvements and the extent to which the same can be utilized by a general office/lab user other than Tenant; and (c) other reasonable monetary concessions being granted such tenants in connection with such comparable space; provided, however, that in calculating the Fair Rental Value, no consideration shall be given to the fact that Landlord is or is not required to pay a real estate brokerage commission in connection with Tenant’s exercise of its right to extend the Lease Term, or the fact that landlords are or are not paying real estate brokerage commissions in connection with such comparable space. The Concessions shall be reflected in the effective rental rate (which effective rental rate shall take into consideration the total dollar value of such Concessions as amortized on a straight-line basis over the applicable term of the Comparable Transaction (in which case such Concessions evidenced in the effective rental rate shall not be granted to Tenant)) payable by Tenant. The term “Comparable Buildings” shall mean the Building and those other life sciences buildings which are comparable to the Building in terms of age (based upon the date of completion of construction or major renovation of to the building), quality of construction, level of services and amenities, size and appearance, and are located in South San Francisco, California and the surrounding commercial area.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Commencement Date means the date of this Agreement;

  • Amendment Effective Date means the date of this Agreement.

  • Base Rent As defined in Section 3.1.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • 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).

  • Initial Effective Date means the date that the Initial Registration Statement has been declared effective by the SEC.