Net Effective Rental Rate definition

Net Effective Rental Rate means the actual recurring contractual base rental payment required to be paid by a tenant under a Lease, taking into account any adjustment regarding Concessions.

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Net Effective Rental Rate means the net present value of the rent and additional rent payable under the ROFR Notice, taking into account any allowances and the fair market value of any work to be performed by Landlord at its expense in connection with any such proposed transaction using a discount rate equal to the Prime Rate plus two percent (2%) as reported in the Wall Street Journal from time to time, or any successor published from time to time as reasonably selected by Landlord.

Net Effective Rental Rate means the quotient (expressed on a per square foot basis) calculated by dividing a numerator equal to the sum of the aggregate contractual base rental payments required to be paid by a tenant under a Lease, taking account any adjustment for Concessions, by a denominator equal to the number of years in the contractual term of the Lease.

Examples of Net Effective Rental Rate 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.

More Definitions of Net Effective Rental Rate

Net Effective Rental Rate means the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions.

Net Effective Rental Rate means 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 does not receive a response from Tenant in writing to Landlord’s First Refusal Notice by the Election Date, Tenant shall be deemed to have elected the option described in clause (ii) above. Notwithstanding anything herein to the contrary, Tenant may only exercise its right of first refusal with respect to all of the space described in the First Refusal Notice, and not a portion thereof.

Net Effective Rental Rate means the actual recurring contractual base rental payment required to be paid by a tenant under a Lease, taking into account any adjustment regarding Concessions. For purposes of determining Net Effective Rental Rate, the term “Concessions” means all above-market amounts paid or foregone by Owner directly to or on behalf of any tenant for the purpose of inducing such tenant to enter into a lease, including, without limitation, tenant improvement allowances, moving expenses, free rent periods or abatements, and/or assumptions or buyouts of the tenant’s obligations under other leases. (The term “above-market” shall be understood to mean amounts in excess of those assumed in the then most recent appraisal approved by Lender.) Lender shall have the right to adjust any Concessions based, in part and as applicable, upon assumptions set forth in the then most current appraisal. All Concessions shall be amortized over the full lease term.

Net Effective Rental Rate means the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions. If Landlord fails to enter into a lease for the Identified Space with the party subject to the Pending Deal Notice within 6 months after Landlord’s delivery of the Pending Deal Notice to Tenant, Tenant’s Right of First Refusal shall be restored.

Net Effective Rental Rate means the net rental rate payable to Landlord under a lease net of all tenant inducements (e.g., tenant improvement allowances, rental abatements, moving allowances), with the cost of such tenant inducements, together with interest thereon at a rate of ten percent (10%) per annum, amortized over the term of such Lease. Except for such waiver, Tenant’s rights under this Section are continuous and, therefore, if the lease in favor of a third party of the Offer Space expires or otherwise terminates, and Landlord desires to accept an Offer to lease such Offer Space after the expiration of the above-referenced one hundred eighty (180) day period, Landlord shall again give Tenant notice of its right to lease such Offer Space.

Net Effective Rental Rate means 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. Further, in the event Landlord does not enter into a lease for the First Refusal Space with the third party who was the subject of the prior proposal, Landlord will be obligated to deliver a new First Refusal Notice to Tenant upon receipt of any proposal or response to proposal with a new prospective tenant, and in such instance such revised First Refusal Notice will be subject to the terms of this Section 1.4 to the same extent as the initial First Refusal Notice. Notwithstanding anything contained herein, Landlord will only be obligated to deliver First Refusal Notices to Tenant with respect to three (3) separate third party offers (i.e., any second notice provided with respect to the same third party offer will not count toward the foregoing three (3) instances), and thereafter this right of first refusal will terminate and be of no further force or effect. If Tenant does not so respond in writing to Landlord's First Refusal Notice by the Election Date, Tenant shall be deemed to have elected the option described in clause (ii) above. Notwithstanding anything herein to the contrary, Tenant may only exercise its right of first refusal with respect to all of the space described in the First Refusal Notice, and not a portion thereof.

Net Effective Rental Rate means the net present value of the rent and additional rent payable under the terms of Landlord’s Notice, taking into account any allowances and the fair market value of any work to be performed by Landlord at its sole expense in connection with any such proposed transaction using a discount rate equal to the sum of that rate quoted by W▇▇▇▇ Fargo Bank, N.T. & S. A., from time to time as its prime rate, plus two percent (2%). 110015197v.8