Net Rental Proceeds means the proceeds actually received by Manager and paid by a Rental Guest for the occupancy of the Residence, based on the nightly occupancy rate actually charged, excluding:
Net Rental Proceeds means the rental proceeds Agent receives from the generation of rental reservations. This is to include, but not limit to, the commissions owed to any online travel agent fees when rental reservations are produced from such sites. Online travel agent fees shall not exceed fifteen percent (15%) of gross rental revenue.
Net Rental Proceeds means the base rent paid by the tenant under a lease, less any amounts currently due under the terms of liens which have priority over the lien created under this chapter. Base rent is the rent so designated in a lease as base rent, or a similar term, for the possession and use of the commercial real estate, but does not include separate payments made by tenants for insurance, taxes, utilities, or other expenses.
Examples of Net Rental Proceeds in a sentence
For the fulfillment of Subsidiary's tax payment obligations in Mexican territory, Manager will provide Subsidiary from the Net Rental Proceeds with the required funding.
As compensation for Manager’s services provided under this Agreement, (a) Manager shall retain fifty percent (50%) and Owner shall receive fifty percent (50%) of the Net Rental Proceeds that include “The Rancho La Puerta” Program, as defined below, subject to deductions as set forth in this Agreement.
Once the Rental Guests have made the payment to be collected by Manager of the Net Rental Proceeds, Subsidiary will issue the corresponding invoice in compliance with the applicable Mexican tax provisions.
As compensation for Manager’s services provided under this Agreement, (a) Manager shall retain thirty five percent (35%) and Owner shall receive sixty five percent (65%) of the Net Rental Proceeds, as defined below, subject to deductions as set forth in this Agreement.
Subsidiary through Manager shall furnish Owner with monthly accounting statements, on or before the twentieth (20th) day of each month, identifying, for the previous month: (a) fulfilled rental reservations; (b) the Residence’s Net Rental Proceeds (as defined in Section 3.1); (c) the total Rental Management Fee (as defined in Section 3.1); (d) the total Owner’s Proceeds (as defined in Section 3.1); and (e) any amounts that may be due to Subsidiary or Manager pursuant to this Agreement or otherwise.
More Definitions of Net Rental Proceeds
Net Rental Proceeds means the base rent paid by the tenant
Net Rental Proceeds means: in the case of a sublease, the amount by which the aggregate of the base rent, and additional rent payable under a sublease to Tenant by the subtenant (excluding sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements, equipment, furniture or other personal property) exceeds the sum of (i) the Base Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the sublease in respect of the subleased space, (ii) brokerage commissions due and owing to a real estate brokerage firm in connection with such sublease, and (iii) other customary and reasonable costs incurred by Tenant in connection with the subleasing (including but not limited to, reasonable attorneys’ fees, tenant improvement costs, and any free rent granted by Tenant to any transferee, all to be amortized over the remainder of the Lease Term); and in the case of an assignment, the amount by which any sum payable to Tenant by the assignee in connection with the assignment of this Lease (excluding sums paid for the sale of Tenant’s fixtures, leasehold improvements, equipment, furniture or other personal property to the extent such sums do not exceed the reasonable fair market value thereof) exceeds the sum of (i) brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, and (ii) other customary and reasonable costs incurred by Tenant in connection with the assignment (including but not limited to, reasonable attorneys’ fees, tenant improvement costs, and any free rent granted by Tenant to any transferee, all to be amortized over the remainder of the Lease Term). Notwithstanding anything to the contrary provided herein, Tenant shall not be required to pay any Net Rental Proceeds or other profit received by Tenant to Landlord in connection with any Related Entity or Successor Entity.
Net Rental Proceeds means in the case of a sublease, the amount by which the aggregate of all rents, additional charges, or other consideration payable under a sublease to Tenant by the subtenant (including sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements, equipment, furniture, or other personal property, which sums shall reflect, at a minimum, the reasonable, fair market value of the same) exceeds the sum of (i) the Minimum Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the sublease in respect of the subleased space, (ii) brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, (iii) the cost of Alterations performed by Tenant to prepare the Premises for such subtenant or an allowance or rental abatement in lieu thereof, and/or (iii) promotional, advertising, legal accounting, construction and related other customary and reasonable costs incurred by Tenant in connection with the subleasing; and in the case of an assignment, the amount by which all sums and other considerations paid to Tenant by the assignee of this Lease for or by reason of such assignment (including sums paid for the sale of Tenant’s fixtures, leasehold improvements, equipment, furniture, or other personal property, which sums shall reflect, at a minimum, the reasonable, fair market value of the same) exceeds the sum of (i) the Minimum Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the assignment in respect of the Premises, (ii), brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, (iii) the cost of Alterations performed by Tenant to prepare the Premises for such assignee or an allowance in lieu thereof, and/or (iii) promotional, advertising, legal accounting, construction and related other customary and reasonable costs incurred by Tenant in connection with such assignment, and/or (iii) other customary and reasonable costs incurred by Tenant in connection with the assignment.
Net Rental Proceeds means in the case of a sublease, the amount by which the aggregate of all rents, additional charges, or other consideration payable under a sublease to Tenant by the subtenant (including sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements, equipment, furniture, or other personal property, which sums shall reflect, at a minimum, the reasonable, fair market value of the same) exceeds the sum of
Net Rental Proceeds means in the case of a sublease, the amount by which the aggregate of all rents, additional charges, or other consideration payable under a sublease to Tenant by the subtenant (including sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements, equipment, furniture, or other personal property, which sums shall reflect, at a minimum, the reasonable, fair market value of the same) exceeds the sum of (i) the Minimum Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the sublease in respect of the subleased space, (ii) brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, and (iii) other customary and reasonable costs incurred by Tenant in connection with the subleasing; and in the case of an assignment, the amount by which all sums and other considerations paid to Tenant by the assignee of this Lease for or by reason of such assignment (including sums paid for the sale of Tenant’s fixtures, leasehold improvements, equipment, furniture, or other personal property, which sums shall reflect, at a minimum, the reasonable, fair market value of the same) exceeds the sum of (i) the Minimum Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the assignment in respect of the Premises, (ii), brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, and (iii) other customary and reasonable costs incurred by Tenant in connection with the assignment.
Net Rental Proceeds in the case of a sublease, the amount by which the aggregate of all rents, additional charges or other consideration payable under a sublease to Tenant by the subtenant (including sums paid for the sale or rental of Tenant’s fixtures or leasehold improvements but excluding sums paid for the sale or rental of Tenant’s equipment, furniture or other personal property) exceeds the sum of (i) the Basic Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the sublease in respect of the subleased space, (ii) actual brokerage commissions, providing same are at prevailing rates, due and owing to a real estate brokerage firm, (iii) reasonable legal fees incurred by Tenant in connection with the sublease, (iv) free rent granted to the subtenant, (v) cost of work incurred by Tenant in preparing the premises for the sublease and (vi) the then net unamortized or undepreciated cost of the fixtures, leasehold improvements, equipment, furniture or other personal property included in the subletting; and in the case of an assignment, the amount by which all sums and other considerations paid to Tenant by the assignee of this Lease for or by reason of such assignment (including sums paid for the sale of Tenant’s fixtures or leasehold improvements but excluding sums paid for the sale or rental of Tenant’s equipment, furniture or other personal property) exceeds the sum of (i) actual brokerage commissions, provided same are at prevailing rates due and owing to a real estate brokerage firm, (ii) the then net unamortized or undepreciated cost of the fixtures, leasehold improvements, equipment, furniture or other personal property sold to the assignee, and (iii) reasonable legal fees incurred by Tenant in connection with the assignment. New Space: defined in Section 29.4(a). NJDEP: defined in Section 11.5(b).
Net Rental Proceeds means: in the case of a sublease, the amount by which the aggregate of all rents, additional charges or other consideration payable under a sublease to Tenant by the subtenant (including sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements, equipment, furniture or other personal property) exceeds the sum of (i) the Base Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the sublease in respect of the subleased space, (ii) brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, and (iii) other customary and reasonable costs incurred by Tenant in connection with the subleasing; and in the case of an assignment, the amount by which all sums and other considerations paid to Tenant by the assignee of this Lease for or by reason of such assignment (including sums paid for the sale of Tenant’s fixtures, leasehold improvements, equipment, furniture or other personal property) exceeds the sum of (i) brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, and (ii) other customary and reasonable costs incurred by Tenant in connection with the assignment.