Net Rents definition

Net Rents means cash income derived from the rental of real or personal property over and above all expenditures related to the rented property, including but not limited to mortgage payments, management expenses, housekeeping, property taxes, brokerage fees, special assessments and other operating charges.
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Net Rents means, for any period, the sum, for the Loan Parties (determined on a consolidated basis without duplication in accordance with GAAP), of the following: (a) all Rental Expense payable during such period minus (b) the sum of (i) Rental Expense on the Corporate Headquarters payable during such period, plus (ii) Rental Expense payable during such period on Stores identified on Schedule 1.01 for which any Loan Party has a leasehold obligation but which Stores are no longer occupied by any Loan Party as of the Closing Date, plus (iii) Rental Expense on the Store located at ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ payable during such period, plus (iv) Rental Expense on the Store located at ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, Irvine, California 92714 payable during such period, plus (v) Rental Expense on Stores vacated from time to time as a result of relocation payable during such period in an aggregate amount not to exceed $2,000,000 for such period; provided that for purposes of calculating Net Rents, the determination of whether or not a Store has been vacated as a result of a relocation shall be made by the Administrative Agent in its reasonable discretion, plus (vi) Rental Expense payable during such period under lease agreements in effect on the Closing Date with respect to properties identified on Schedule 1.01 and attributable to real property space adjacent to a Store for which any Loan Party has a leasehold obligation but which space is not occupied by any Loan Party; provided that the Borrower is using commercially reasonable efforts to sublease such real property space, plus (vii) Support Facility Rents.
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Net Rents for any period shall mean the base rents, escalations of base rents, percentage rents and other rents (but specifically excluding reimbursement from tenants for Operating Expenses) actually received by the Partnership from all of the tenants of the Qualified Properties during such period.
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Examples of Net Rents in a sentence

  • Such fee shall be calculated monthly, based on Net Rents received by the Company for such month, and adjusted as provided herein.

  • The Manager shall cause the Company to pay to the Asset Manager (or to the Manager in the event the Management Agreement is terminated) an annual management fee equal to two percent (2%) of Net Rents, payable monthly.

  • Concurrently with the reconciliation statement required above, the Asset Manager shall provide to the Advisor and the Fund a written statement setting forth all Oversight Fees paid to the Asset Manager during such fiscal year and the Net Rents relating to such Tranche II Properties for such fiscal year.

  • Such fee shall be calculated monthly, based on Net Rents received by the Company for such month, and adjusted as provided in this Section 11(b).

  • Following the Employee’s termination of employment by his resignation or expiration of the Term or any Renewal Period, except as set forth in this Section 5(e), the Employee shall have no further rights to any compensation or any other benefits under this Agreement.

  • The Managing General Partner shall cause the Partnership to pay to the Asset Manager pursuant to the Management Agreement (or to the Managing General Partner in the event the Management Agreement is terminated) an annual Management Fee ("MANAGEMENT FEE") equal to the Fund Partners' aggregate Percentage Interest multiplied by two and one-half percent (2.5%) of Net Rents, payable monthly.

  • Concurrently with the reconciliation statement required above, the Asset Manager shall provide to the Advisor and the Fund a written statement setting forth all Oversight Fees paid to the Asset Manager during such fiscal year and the Net Rents relating to such Qualified Properties for such fiscal year.

  • Such fee shall be calculated monthly, based on Net Rents received by the Partnership for such month, and adjusted as provided in this Section 11.

  • The Partnership shall pay to the Asset Manager an annual Management Fee equal to the Fund Partners' aggregate Percentage Interest multiplied by two and one-half percent (2.5%) of Net Rents, payable monthly.

  • Such fee shall be calculated monthly, based on Net Rents received by the Company for such month, and adjusted as provided in this Section 11.


More Definitions of Net Rents

Net Rents for any period shall mean the rents actually received by the Partnership from all of the tenants of the Qualified Properties during such period less any Operating Expenses for the Qualified Properties not paid by the tenants thereof.
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Net Rents. These refer to (i) the income received under the Lease Contracts, after deducting payments corresponding to property taxes and the general sales tax, as such taxes are reflected in the Borrower’s financial statements' income statement, plus (ii) income received for the maintenance of common areas, in case they were not included in the calculation of (i) above, minus the payments made to LAP under the Operation Contract concerning the income received from the Lease Agreements, minus (iii) expenses for the maintenance of income-generating assets, in proportion to the Lease Contracts, and minus (iv) payments to Latam Logistic Opco S.R.L., based on the administration services provided, in proportion to the Lease Contracts.
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Net Rents for any period shall mean the rents actually received by the Company from all of the tenants of the Tranche II Properties during such period less any Operating Expenses for the Tranche II Properties not paid by the tenants thereof.
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Net Rents shall be determined by first deducting from the gross proceeds received by Landlord from re-letting the Premises the actual out-of-pocket expenses incurred or paid by Landlord in terminating this Lease and of re-entering the Premises and of securing possession thereof, as well as the reasonable expenses of re-letting, including altering and preparing the Premises for general office use by new tenants, brokers’ commissions, and all other expenses properly chargeable against the Premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to or shorter or longer than the remaining term of this Lease. Landlord shall remit the Net Rents to Tenant only as and when received after first paying all the expenses of re-letting as aforesaid.
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Net Rents means cash income derived from the rental of real or personal property over and above all expenditures related
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Net Rents means be the amount of rent payable by a tenant to landlord for the initial term under a Lease (not to exceed ten (10) years) excluding all rent or amounts payable by tenant to reimburse landlord for tenant’s share of the costs of taxes, common area maintenance, insurance, other similar reimbursable expenses or tenant payments to marketing or promotional funds, if any, for the Shopping Center.
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Related to Net Rents

  • Gross Rents means an amount equal to annual rental income reflected in a current rent roll for all Tenants paying rent, open for business and in actual physical occupancy of their respective space demised pursuant to Leases which are in full force and effect.

  • 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).

  • 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 ▇▇▇▇▇▇’▇ wages or otherwise.

  • 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.

  • 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.