Sublease Profit definition

Sublease Profit shall have the meaning set forth in Section 12.7 hereof.

Sublease Profit means the product of (x) the Sublease Rent Per Square Foot less the Rent Per Square Foot, and (y) the number of rentable square feet constituting the portion of the Premises sublet by Tenant.

Sublease Profit means the net profit you earn through subleasing the building or portion of the building that you rent for the unexpired term of the canceled lease or sublease, whichever would expire first. This amount is discounted based on the prime rate of interest at the time of direct physical loss or damage for the unexpired term of the canceled lease or sublease.

Examples of Sublease Profit in a sentence

• Thereafter, any Sublease Profit received by Tenant shall be shall be paid fifty percent (50%) to Landlord and fifty percent (50%) to Tenant.

• Tenant shall pay to Landlord from time to time an amount equal to fifty percent (50%) of Sublease Profit promptly after Tenant receives funds that constitute Sublease Profit.

• In connection with Paragraph 15(e) of the Original Lease, Landlord and Tenant hereby agree that during the Abatement Period, any Sublease Profit that may become payable to Landlord by virtue of a sublease that expires on or before January 31, 2023, shall be calculated based on the Base Rent that would otherwise be due and payable by Tenant during such Abatement Period, as if the Rent Abatement afforded to Tenant under Paragraph 4 did not apply.

• Subject to the provisions of this Section 12.10, in connection with any subletting of all or any portion of the Premises by Tenant, Tenant shall pay to Landlord an amount equal to fifty percent (50%) of any Sublease Profit derived therefrom, provided, however, that in no event shall Tenant be entitled to any proceeds derived from or relating to (directly or indirectly) any subletting of the Recapture Space by Landlord or its designee to a subtenant.

• If and to the extent there is any Sublease Profit arising out of this Sublease, Subtenant shall have no liability for the payment of the same, but the existence or non-existence of any Sublease Profit shall have no effect on the obligation of Subtenant to pay the full amount of Base Rent or other amounts payable by Subtenant hereunder.

More Definitions of Sublease Profit

Sublease Profit means in any Lease Year of the Term of this Lease: (i) any rents, additional charges or other consideration payable under the sublease to Tenant by the subtenant which is in excess of the Base Rent accruing during such Lease Year of the Term of this Lease in respect to the subleased space (at the rate per square foot payable by Tenant hereunder) pursuant to the terms hereof; and (ii) all sums paid for the sale or rental of Tenant's fixtures, leasehold improvements, equipment, furniture or other personal property, less, in the case of the sale thereof, the then net unamortized or undepreciated cost thereof determined on the basis of Tenant's federal income tax returns, which net unamortized amount shall be deducted from the sums paid in connection with such sale in equal monthly installments over the balance of the term of the sublease (each such monthly deduction to be in an amount equal to the quotient of the net unamortized amount, divided by the number of months remaining in the term of this Lease). The sums payable under this Section 20 shall be paid to Landlord as and when paid by the subtenant to Tenant.

Sublease Profit means, for the term of the applicable sublease (the “Sublease Term”), Sublease Income less Tenant Costs.

Sublease Profit means the excess of (i) the --------------- Sublease Rent over (ii) the then Fixed Rent, Escalation Rent and, if applicable, the Electricity Additional Rent.

Sublease Profit means the excess, if any, (i) of the rentals actually received by Tenant under any sublease (it being understood that the rentals actually received under any sublease shall include sums paid for the sale or rental of Tenant's fixtures, leasehold improvements, equipment, furniture or other personal property, less, (i) in the case of the sale thereof, the then net unamortized or undepreciated cost thereof determined on the basis of Tenant's federal income tax returns, and (ii) in the case of the rental thereof, the fair market rental value of such item(s), and any other consideration actually received by Tenant under any sublease (the "Total Income")) over (ii) the sum (the "Total Cost") of (w) all basic annual rent and additional rent paid by Tenant, or such thereof as are reasonably allocable to the portion of the demised premises so sublet, that are paid by Tenant to Landlord, (x) "Tenant's Transaction Costs", as hereinafter defined, (y) any "Carryover Credit", as hereinafter defined, and (z) all actual out-of-pocket costs, if any, incurred by Tenant in providing services to the subtenant. The term "Tenant's Transaction Costs" shall mean and include all actual reasonable costs and expenses incurred by Tenant consistent with the then market requirements in effectuating the subletting, including, without being limited to, brokerage commissions, attorney's fees and disbursements, remodeling and redecorating costs, rent paid during any free-rent periods and takeover costs and expenses. In computing Sublease Profits, the Total Income, as and when received by Tenant, shall first be offset against Tenant's Transaction Costs, as and when incurred or paid by Tenant on the basis hereinafter provided, until Tenant has recovered Tenant's Total Transaction Costs, it being understood that (1) any of the rent or other items referred to in clause (x) of this Section 10-03 (b) shall only be offset against Total Income as and when such items referred to in said clause (x) are actually received by Landlord and (2) the actual out-of-pocket expenses included in Tenant's Transaction Costs (such as attorney fees, brokerage commissions, rent concessions and remodeling costs) may be offset against Total Income as and when paid by Tenant. The Total Income, as and when received, less such additional Total Cost as may be paid or incurred by Tenant on the basis herein provided shall constitute Sublease Profit. If at any time a prior sublease shall have resulted in a net loss to Tenan...

Sublease Profit as used herein shall mean an amount equal to the excess of (x) any rents, additional charges or other consideration payable under the sublease to Tenant by the subtenant (including, without limitation, any fee, penalty or charge paid by the subtenant for the right to cancel the sublease) which is in excess of the Fixed Rent and Additional Charges accruing during the term of the sublease in respect of the subleased space (at the rate per square foot payable by Tenant hereunder) pursuant to the terms hereof, including, without limitation, any sums paid for the value of Tenant’s fixtures, leasehold improvements, equipment, furniture, furnishings or other personal property over (y) the Transaction Costs.

Sublease Profit means the product obtained by multiplying (x) the excess of (A) the Sublease Rent Per Square Foot, over (B) the Rent Per Square Foot, by (y) the number of rentable square feet by the Sublease in question.

Sublease Profit means the product of (x) the Sublease Rent Per Square Foot less the Rent Per Square Foot, and (y) the number of rentable square feet constituting the portion of the Leased Premises being sublet by Tenant.