Rent Credit definition
Rent Credit is determined by subtracting from the Total 2003 Base Amount That Should Be Obtained the total base rent (exclusive of recoveries and extras) for all NOI Leases (in place at the time of such calculation) to be paid during calendar year 2003, but such amount shall never be less than Zero;
Rent Credit means the Purchaser’s and the other Designated Purchasers’ entitlement to six months free rent in the amount of three million US dollars (USD 3,000,000) pursuant to the Real Estate Agreements.
Rent Credit. 6.1 "Substantially Complete" 3.2 "Successor" 32 "Taxes" 6.2.3 "Term" 3.4
Examples of Rent Credit in a sentence
As the Monthly Rent was One Hundred Thirty-four Thousand Dollars ($134,000.00) per month during the Impacted Time Period, the Rent Credit shall be Three Hundred Thirty-Five Thousand Dollars ($335,000.00).
Commencing on the Rent Commencement Date, Tenant shall have the right to off-set all Rent payments otherwise due from Tenant to Landlord hereunder each month of the Term until the Tenant has received the full benefit of the Rent Credit Cap.
It shall be reasonable for Tenant to require Landlord to pay for any reasonable net cost increases in advance of construction of the work contemplated by a Change Order, or alternatively, Tenant, in its sole discretion may add the cost of the Change Order to the Rent Credit Cap.
More Definitions of Rent Credit
Rent Credit. So long as Tenant is not in default of the Lease, Tenant shall receive a rent credit of $500.00 per month ("Rent Credit"). The Rent Credit shall commence with the first payment of Rent due after such time as the Rent Credit which otherwise would have been earned by Tenant has been applied to cover all legal fees incurred by Landlord with respect to this Amendment or the reletting of the 33rd Floor Premises For example, if Landlord incurs legal fees of $2,000 with respect to this Amendment and the reletting of the 33rd Floor Premises, then the Rent Credit shall commence on September 1, 2001 (four months of Credit at $500 per month).
Rent Credit. Starting with the first quarterly installment of Rent, Tenant shall receive a Rent Credit against the calculation of annual Rent in accordance with Sections 1.3(b)(ii) and 3.2 of this Lease, and Tenant shall pay one quarter of annual Rent due after application of such Rent Credit. Thereafter, Rent Credits shall applied for every new tenant for the Premises that is substituted for Tenant pursuant to Section 1.3(b)(ii) of this Lease for base rent payments made at a rate of greater than $22.03 per annum. Such Rent Credits shall be calculated at the time of each quarterly installment of Rent by first applying the annualized credit for each new tenant paying base rent for a portion of the Premises against annual Rent and then calculating the quarterly installment of Rent then due.
Rent Credit. Lessee shall receive a Rent Credit in the amount of $3,185.00, which will be applied to the next installment of rent due.
Rent Credit shall be equal to the difference between the Base Rent and the Floor multiplied by the Adjustment Percentage [(Base Rent – Floor) X Adjustment Percentage].
Rent Credit and shall be credited as set forth in Section 2.1 below.
Rent Credit has the meaning given it in Section 7.3(g). “Security Plan” has the meaning given it in Section 10.6.
Rent Credit means a total equal to $0.00/sq. ft. multiplied by the Premises area.