Rent Concession definition

Rent Concession means any rent-free or reduced rent period or rental allowance or capital payment in lieu or similar concession in respect of any period which would be required to carry out the fitting-out works of the willing tenant and to render the
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Rent Concession means any rent free period or period of reduced or concessionary rent, in each case commencing on the Review Date, or any capital payment or other inducement which, in any such case, might reasonably be expected to be allowed or given to reflect the period reasonably required by a willing tenant to fit out the Premises in accordance with the practice of the open market on the Review Date.
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Rent Concession means any rent free or reduced rent period or capital payment in lieu or other rent concession of such period or amount as might reasonably be expected to be granted at the relevant review date in the open market by a willing landlord to a willing tenant which such willing tenant might reasonably require to enable it to fit out the Premises.
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Examples of Rent Concession in a sentence

  • If any Rent Concession extends for a period longer than twelve (12) months after the Closing Date, for the purpose of computing the credit to Purchaser hereunder applicable to such period beginning twelve (12) months after the Closing Date, the pro forma or budgeted rent set forth on the Rent shall be increased by five percent (5%).

  • Notwithstanding the foregoing, (a) the Rent Concession Balance will not be applicable to the extent it exceeds the amount of rent loss insurance proceeds recovered by Landlord with respect to the Casualty Abatement, (b) Tenant will not be entitled to any cash refund or credit against any other amounts due Landlord by reason of the foregoing provision and (c) the Term will not be extended by reason of the applicability of the foregoing provision.

  • Subject to the Expansion Premises Rent Concession Period, during which all Occupancy Costs shall be abated on the Expansion Premises, Tenant shall pay its Pro Rata Share of Occupancy Costs for the Premises (as redefined pursuant to Subparagraph 1(h) above) at the times and in the manner as payments of Occupancy Costs are to be made pursuant to Section 4.02 of the Original Lease.

  • In the event Landlord exercises the recapture rights, Landlord may also collect the pro-rata share of the unamortized Lease commission, Tenant Improvement and Rent Concession, if any, that relates to the Lease.

  • The longitudinal profile of the plasma will be tapered using intensity or phase masks on the laser beam.

  • Tenant’s obligation for payment of abated Annual Rent and Occupancy Costs not collected during the Rent Concession Period (which shall only apply if Tenant commits an Event of Default beyond any applicable notice and cure period and Landlord commences an action to recover Rent and/or possession of the Premises) shall be independent of and in addition to Landlord’s other damages pursuant to Article 19.00 of the Lease.

  • The police never reported any such criminal activity to Mr. Molina.

  • Tenant’s obligation for the unamortized portion of abated Annual Rent and Occupancy Costs not collected during the Sixth and Seventh Expansion Premises Rent Concession Periods, and the reduced Rent during the Sixth Floor Expansion Premises Rent Reduction Period shall be independent of and in addition to Landlord’s other damages pursuant to Article 19.00 of the Lease.

  • Subject to the Rent Concession Period, during which all Occupancy Costs shall be abated, Tenant shall pay to Landlord, at the times and in the manner provided in Section 4.06, the Occupancy Costs determined under Exhibit B; provided however, Occupancy Costs (a) for months 8 through 13 shall be based on 20,000 rentable square feet, and (b) for months 14 through 18 shall be based on 26,000 rentable square feet.

  • In the event that Landlord is delayed in delivering possession of the Premises to Tenant by the Delivery Date, in addition to the Rent Concession Period, Tenant shall receive one (1) additional day of free Rent and Occupancy Costs for each day of delay.


More Definitions of Rent Concession

Rent Concession. Provided Tenant is not in default of any of the terms and conditions of this Lease, Tenant shall be permitted to use and occupy the premises for the first three (3) months of the Lease Term without the obligation to pay Monthly Basic Rent to Landlord although Tenant shall be required to pay all other sums due and owing to Landlord under this Lease (specifically including electric charges).
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Rent Concession. Provided that Tenant has furnished evidence of insurance as set forth in Section 37 hereof, Tenant may take occupancy of the premises on September 15, 1996, and shall not be liable for the payment of rent for the period ending October 31, 1996.
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Rent Concession means an amount calculated with respect to each such renewal Lease or new Lease, as follows: (a) the number of days from the execution date of the renewal Lease or new Lease until the Closing Date; multiplied by: (b) the result of: (i) the total rent payable for the renewal term or term under the Lease, as applicable, divided (ii) by the number of days in the renewal term of the Lease or term of the new Lease, as applicable.
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Rent Concession means any rent-free or reduced rent period or rental allowance or capital payment in lieu or similar concession
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Rent Concession means any rent-free period or period of reduced or concessionary rent, in each case starting on the date of the proposed underlease, that might reasonably be expected to be allowed or given in connection with the fitting out of any relevant underlease premises by the incoming willing lessee in accordance with the practice of the open market on the date of the proposed underlease;
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Related to Rent Concession

  • Concession means the granting of a license or right to act for or on behalf of the Board, or to provide a service requiring the approval or endorsement of the Board, and which may or may not involve a payment or exchange, or provision of services by or to the Board, provided that the term concession shall not include vending machines.

  • Leases means any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any other agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all or any portion of any Real Property.

  • 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.

  • the Lease means the lease of the said land to be granted by the Lessor to the Lessee pursuant to clause 2.1;

  • Concession Contract means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities within the meaning of Articles 168 and 172, in order to entrust the execution of works or the provision and management of services to an economic operator (the ‘concession’). The remuneration shall consist either solely in the right to exploit the works or services or in that right together with payment. The award of a concession contract shall involve the transfer to the concessionaire of an operating risk in exploiting those works or services encompassing demand risk or supply risk, or both. The concessionaire shall be deemed to assume an operating risk where, under normal operating conditions, there is no guarantee of recouping the investments made or the costs incurred in operating the works or the services at stake;

  • Rents means all of the rents, royalties, issues, profits, revenues, earnings, income and other benefits of the Property, or arising from the use or enjoyment of the Property, including all such amounts paid under or arising from any of the Leases and all fees, charges, accounts or other payments for the use or occupancy of rooms or other public facilities within the Real Property.

  • Lease means any and all leases, subleases, licenses or other occupancy agreements, sale/leaseback arrangements or similar arrangements.

  • Lease or rental means the leasing or renting of tangible personal property and the possession or use