Rent Offset definition

Rent Offset has the meaning ascribed to such term in Section 2.1(d)(ii)(a).
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Rent Offset means the deduction to Base or Percentage Rent approved by the Lessor as described in Section 5.7 of this Lease.
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Rent Offset means, in the event Landlord elects to sell any Terminated Facilities pursuant to Section 12.2.6, for any given time, an amount determined by the following formula: RO = (SP x (1 + LY)n) x LY Where:
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Examples of Rent Offset in a sentence

  • If the Capital Improvement Rent Offset exceeds the total Rent due under this Lease during the Initial Term and Extended Term, if exercised, the remaining value of Lessee’s Capital Improvements shall be deemed to have been donated to City at the termination or expiration of this Lease, and the Capital Improvements shall be surrendered with the Premises as provided in Section 14, without the need for further action by Lessee or City.

  • In the event the Superintendent fails to timely provide such certification or written notice, the Initial Costs or Subsequent Costs, as applicable, submitted to the Superintendent for certification shall be deemed certified and added to the Capital Improvement Rent Offset.

  • For the Initial Capital Improvements, the Superintendent shall certify reasonable costs incurred in the categories itemized on The Initial Capital Improvement Rent Offset Categories on Exhibit D, which is attached and incorporated herein.

  • Not later than sixty (60) days following the Construction Period of the Initial Capital Improvements or completion of any Subsequent Improvements, as applicable, Lessee shall provide the Superintendent with an accounting of its costs associated with the Capital Improvements completed to the Premises and not previously included in the Capital Improvement Rent Offset, together with such supporting documentation as the Superintendent may reasonably request.

  • Notwithstanding the foregoing, if the total amount of the Capital Improvement Rent Offset related to any such Replacement would exceed the total amount of Rent due during the remainder of the Lease Term, Lessee and City shall use good faith efforts to agree to a plan for completing and paying for such Replacement (the “Replacement Plan”).

  • City shall provide no funds for the Initial Capital Improvements and Building alterations, except that Lessee shall be entitled to the Capital Improvement Rent Offset as set forth herein.

  • Because these structures, are removable in their entirety, no Rent Offset or other compensatory interest will be granted to the Lessee for these structures, including associated FF&E.

  • The Public Benefit Program Rent Offset may not exceed a total of twenty-three percent (23%) of the Rent due in any given month.

  • Each month, Lessee shall report to the Park’s Finance Director the amount of Capital Improvement Rent Offset it is applying to Rent that would otherwise be due and owing.

  • Each month, Xxxxxx shall report to the Park’s Finance Director the amount of Capital Improvement Rent Offset it is applying to Rent that would otherwise be due and owing.


More Definitions of Rent Offset

Rent Offset means, in the event Landlord elects to sell any Terminated Facilities pursuant to Section 12.2.6, for any given time, an amount determined by the following formula:
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Rent Offset. Landlord understands that Tenant is obligated on another Lease for its existing offices at 1313 Xxxxxx Xxxxxxx Boulevard in McLean, Virginia (the "Existing Office Space") and that Tenant is currently attempting to sub-lease the Existing Office Space. As inducement to Tenant to enter into this Agreement the Landlord agrees to offset the Basic Rent due hereunder in an amount equal to the amount of rent paid by Tenant for the Existing Office Space above and beyond any amounts collected from Tenant's sub-tenant(s) at the Existing Office Space on a monthly basis after the Lease Commencement Date. The Tenant shall provide Landlord evidence that it has incurred rent expenses at the Existing Office Space for any month where Tenant does not collect sub-lease rental payments equal to the amount due from Tenant for that month for the Existing Office Space as requested by Landlord and Landlord shall provide a credit towards the amount due hereunder from Tenant for the same month. However, the amount of Rent Offset shall not exceed Fifty Thousand Dollars ($50,000.00) in the aggregate. In the event the amount of Rent Offset granted by Landlord does not exceed Twenty-Five Thousand Dollars ($25,000.00) during the first year of the Term, the Landlord agrees that the escalation of the Basic Rent as provided for herein shall, rather then commencing with the beginning of the second year of the term, shall not commence until the beginning of the third (3rd) year of the Term and in such event the schedule of basic Rent set forth in paragraph l(b) shall be amended to reflect the change in the amount due as Basic Rent hereunder.
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Rent Offset. NOT APPLICABLE Rentable Area: The total rentable area of the Leased Premises, which (although greater than the actual usable area) is agreed to be 8,797 square feet, which shall be verified by the project architect upon completion of the Tenant Improvement Plans and in the event the final calculation is different then as aforesaid the project architect shall provide a written statement to the parties hereto as to the total Rentable Square Feet of the Premises and said written statement shall be attached as an amendment hereto modifying the portions of this Agreement as is appropriate without modifying the general terms hereof.
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Related to Rent Offset

  • Sublease Payment means any payment required to be made by the District pursuant to Article 7 of this Sublease.

  • Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Lease Payments means the rental payments described in Exhibit A hereto.

  • Additional Rent means any and all amounts, other than Basic Rent, required to be paid by the Tenant under this Lease, whether or not same are designated “Additional Rent” or whether or not the same are payable by Landlord;

  • Additional Rental has the meaning set forth in Section 4.03.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Past Due Rent Payment is defined in Section 2.2(g).

  • Base Rent As defined in Section 3.1.

  • 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 xxxxxx’x wages or otherwise.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Prepaid Rent means any payment of money to the landlord for a rent obligation not yet

  • Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Lease Payment Date means, with respect to any Interest Payment Date, the 5th Business Day immediately preceding such Interest Payment Date.

  • Rent Expense means for any fiscal period, the total amount of rents and other charges payable during such period by the Credit Parties and their respective Subsidiaries under all Real Estate Leases to which they are a lessee, all as determined on a consolidated basis in accordance with GAAP.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • 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.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Rental Payments means the rental payments paid by the occupant of a unit, excluding any supplemental rental assistance to the occupant from the State, the federal government, or any other public agency, but including any mandatory fees or charges imposed on the occupant by the Owner as a condition of occupancy of the unit.