Overage Rents definition

Overage Rents means any additional rent, expense reimbursements, utility charges, management charges, common area maintenance or "CAM" charges, escalation rents, operating cost "pass-throughs," and "common area expenses" payable by Tenants under Tenant Leases (whether based upon increases in Operating Expenses, Real Estate Taxes, insurance costs or other operating expenses or taxes or based upon increases in labor costs or cost of living or porter's wages), together with any other additional rent payments ▇▇▇▇▇ ▇pon Real Estate Taxes or Operating Expenses.
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Overage Rents is defined in ss.8. "Park Dry Cleaners Spill" is defined in ss.29. "Permitted Exceptions" is defined in ss.6. "Property" is defined in ss.1. "Surviving Contracts" is defined in ss.1. "Third Party Offer" is defined in ss.28. "Title Company" is defined in ss.6. "Title Commitment" is defined in ss.6. "Title Notice" is defined in ss.6.
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Overage Rents a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), so-called “escalation rent”, and additional rent based upon increases in or otherwise attributable to real estate and BID taxes, operating expenses, utility costs, a cost of living index or p▇▇▇▇▇’▇ wages or otherwise, but which shall in no event include Reimbursable Payments (as hereinafter defined); “Reimbursable Payments”: overtime heat, air conditioning or other utilities or services; freight elevator; electric inclusion and adjustments related to electric usage (such as rate and/or fuel adjustments and survey); submetered electric; supplemental water, HVAC, and condenser water charges; services or repairs, and labor costs associated therewith, to the extent to which a Tenant is obligated to reimburse the landlord under its Lease or for which a Tenant has separately contracted with Seller or its agent; true-ups on account of escalation and/or additional rent for years prior to the year in which the Closing occurs; amounts payable for above standard cleaning; and all other items which are payable to Seller as reimbursement or payment for above standard or overtime services (but which amounts shall not be treated as Reimbursable Payments if already included in a Tenant’s Base Rents); and “Rents”: all amounts due and owing from Tenants, however characterized, including, without limitation, Base Rents, Overage Rents and Reimbursable Payments.
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Examples of Overage Rents in a sentence

  • If, prior to the Closing, Seller shall receive any installments of Overage Rents attributable to Overage Rents for periods from and after the Closing, such sum shall be apportioned at the Closing.

  • Seller shall furnish to Purchaser all information relating to the period prior to the Closing that is reasonably necessary for the billing of Overage Rents; and Purchaser will deliver to Seller, concurrently with the delivery to tenants, copies of all statements relating to Overage Rents for a period prior to the Closing.

  • If, after the Closing, Purchaser shall receive any installments of Overage Rents attributable to Overage Rents for periods prior to the Closing, such sum shall be paid by Purchaser to Seller promptly after Purchaser receives payment thereof.

  • If requested by either party, both parties will join in a letter to the respective Space Tenants under such leases directing the division of Overage Rents in accordance with the foregoing provisions hereof.

  • Overage Rents shall be separately prorated under each Lease on the basis of the fiscal year set forth in each Lease for the payment of Overage Rents.

  • The actual fiscal year for Overage Rents under each Tenant Lease during which the Closing occurs is hereinafter referred to as the "Applicable Overage Rent Year." Non-delinquent Overage Rent collections for the month in which Closing occurs shall be prorated in the same manner as other Rents.

  • At the time(s) of final calculation and collection from (or refund to) each tenant of the amounts in reconciliation of actual Overage Rents for a period for which estimated amounts paid by such tenant have been prorated, there shall be a re-proration between Seller and Purchaser.

  • At the end of the fiscal year for each Lease for which Overage Rents are due from a tenant, Purchaser shall promptly ▇▇▇▇ the amounts due, if necessary.

  • Any Overage Rents received by Seller or Buyer before or after the date of closing will be retained by the recipient of such payments, pending a final reconciliation based upon the actual Overage Rents owed for any fiscal period which includes the date of closing.

  • If Purchaser and Seller determine (subject to any protest rights of any Space Lessee) that there has been an underbilling, the additional amount may be billed to the Space Lessees who are determined to owe such additional amount, and the parties shall apportion such amount(s) so received in the respective proportions in which Overage Rents were previously apportioned between the parties as provided in Section 6.1.1(b).


More Definitions of Overage Rents

Overage Rents a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), so-called “escalation rent”, and additional rent based upon increases in or otherwise attributable to real estate and BID taxes, operating expenses, utility costs,
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Overage Rents means so-called "escalation rent" and additional rent based upon increases in or otherwise attributable to real estate taxes, operating expenses, utility costs, a cost of living index or ▇▇▇▇▇▇'▇ wages or otherwise, but which shall in no event include Reimbursable Payments, if any; "Reimbursable Payments" shall mean overtime heat, air conditioning or other utilities or services; freight elevator; electric inclusion and adjustments related to electric usage (such as rate and/or fuel adjustments and survey), water usage, HVAC charges, services or repairs, and labor costs associated therewith, which a Tenant is obligated to reimburse the landlord under its Tenant Lease or for which a Tenant has separately contracted with Assignor, true-ups on account of escalation and/or additional rent for years prior to the year in which the Closing occurs, above standard cleaning, and all other items which are payable to Assignor as reimbursement or payment for above standard or overtime services (but which amounts shall not be treated as Reimbursable Payments if already included in a Tenant’s Base Rents); for the avoidance of doubt, as defined above in Section 1.40 hereof, "Rents" shall mean all amounts due and owing from Tenants, however characterized, including, without limitation, Base Rents, Overage Rents and Reimbursable Payments.
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Overage Rents. As defined in Section 6.4.2.2. of this Agreement.
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Related to Overage Rents

  • 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.

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • 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.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Percentage Rent As defined in Subsection 3.1(b).