Transfer Profit definition

Transfer Profit means, for a sublease, all rent, additional rent or other consideration paid by such Transferee in excess of the Rent payable by Tenant under this Lease (on a monthly basis during the Term, and on a per rentable square foot basis, if less than all of the Premises is transferred). Transfer Profit shall also include any bonus amount paid by Transferee to Tenant, and any payment in excess of the fair market value for services rendered by Tenant to Transferee or in excess of Tenant’s depreciated tax basis for assets, fixtures, inventory, equipment or furniture transferred by Tenant to Transferee. In determining Transfer Profit, Tenant shall be permitted to deduct any “free rent”, tenant improvement costs, and reasonable legal and brokerage costs actually paid by Tenant to third parties unaffiliated with Tenant in connection with the particular Transfer, which costs shall have been documented to Landlord’s reasonable satisfaction (which costs shall be amortized on a straight-line basis over the term of the Transfer). Tenant shall pay such portion of the Transfer Profit to Landlord on a monthly basis within ten (10) days after receipt thereof, without affecting or reducing any other obligations of Tenant hereunder. Tenant shall send each such payment with a detailed statement. Landlord shall have the right to audit Tenant’s books and records to verify the accuracy of Tenant’s statement. Table of Contents
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Transfer Profit means, with respect to any particular Transfer, the excess (if any) of (x) the Transfer Inflow for such Transfer for the period beginning on the first (1st) day of the term of the applicable Transfer (if such Transfer is a sublease or sublicense) or the date that such Transfer becomes effective (if such Transfer is an assignment of the tenant’s interest under this Lease or an assignment of the subtenant’s interest under a sublease or a sublicense (or further sublease or sublicense)) (as the case may be), over (y) the sum of (a) the Transfer Outflow for such Transfer for such period, and (b) the Amortized Transfer Expenses for such Transfer for such period.
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Transfer Profit means the sum of (I) the excess, if any, of (a) the aggregate base rent (specifically excluding operating expense reimbursements) actually received by Landlord (and due Landlord) under all new leases entered into by Landlord (each, a "NEW LEASE") relating to the portion of the Premises located in Building A during each applicable calendar quarter prior to the Transfer Profit Termination Date, over (b) the applicable quarterly base rent for Building A set forth on EXHIBIT A, attached hereto, and (II) the excess, if any, of (a) the base rent (specifically excluding operating expense reimbursements) actually received by Landlord (and due Landlord) under all New Leases relating to the portion of the Premises located in Building B during each applicable calendar quarter prior to the Transfer Profit Termination Date, over (b) the applicable quarterly base rent for Building B set forth on EXHIBIT A, attached hereto, provided that the Transfer Profit shall be due and paid to Tenant only to the extent that the aggregate amount thereof exceeds the amount of the Termination Fee. Tenant's right to Transfer Profit as set forth herein shall be inapplicable to (x) any space which is included in a New Lease but relates to space outside of the Premises, and (y) shall be inapplicable to any Transfer Profit attributable to any period following the Transfer Profit Termination Date. Notwithstanding anything contained herein to the contrary, Landlord and Tenant hereby acknowledge and agree that no portion of any payment or security deposit received by Landlord in connection with a settlement or other recovery from a defaulting tenant under a New Lease whose lease shall, in connection with such payment, be terminated, shall be included in amounts received by Landlord under items (I)(a) and (II)(a), above; provided, however, that notwithstanding anything contained herein to the contrary, if a tenant under a New Lease that is in arrears in its payment of base rent pays an amount to Landlord, then to the extent such tenant is then current in its monetary obligations to Landlord, Landlord shall apply such amount retroactively to base rent previously due under the applicable New Lease. Except as specifically set forth in this Section 7, Tenant shall have no right to receive any Transfer Profit.
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Examples of Transfer Profit in a sentence

  • Tenant shall pay such Transfer Profit to Landlord on a monthly basis within ten (10) days after receipt thereof, without affecting or reducing any other obligations of Tenant hereunder.

  • Tenant shall pay such Transfer Profit to Landlord on a monthly basis within thirty (30) days after receipt thereof, without affecting or reducing any other obligations of Tenant hereunder.

  • If the Transfer Profit respecting any Transfer shall be found understated, Tenant shall within thirty (30) days after demand pay the deficiency, and if understated by more than two percent (2%) Tenant shall pay Landlord’s costs of such audit.

  • In determining Transfer Profit, Tenant shall be permitted to deduct any “free rent”, tenant improvement costs, and reasonable legal and brokerage costs actually paid by Tenant to third parties unaffiliated with Tenant in connection with the particular Transfer, which costs shall have been documented to Landlord’s reasonable satisfaction (which costs shall be amortized on a straight-line basis over the term of the Transfer).

  • If Landlord consents to a Transfer, as a condition thereto, which the parties hereby agree is reasonable, Tenant shall pay to Landlord, as Additional Rent, one half (1/2) of any Transfer Profit collected by Tenant from such Transfer.

  • Transfer Profit shall also include any bonus amount paid by Transferee to Tenant, and any payment in excess of the fair market value for services rendered by Tenant to Transferee or in excess of Tenant’s depreciated tax basis for assets, fixtures, inventory, equipment or furniture transferred by Tenant to Transferee.

  • Tenant shall pay such portion of the Transfer Profit to Landlord on a monthly basis within ten (10) days after receipt thereof, without affecting or reducing any other obligations of Tenant hereunder.

  • Subject to and in accordance with the terms of this Section 7, Tenant shall be entitled to 30% of any "Transfer Profit," as that term is defined, below, attributable to the period following the Termination Date hereof through and including September 30, 2003 (the "TRANSFER PROFIT TERMINATION DATE").

  • Transfer Profit shall not be due or payable by Tenant to Landlord in the event of an assignment of this Lease or sublease of the Premises to an Affiliated Entity.

  • Notwithstanding anything to the contrary in this Lease contained, Tenant shall have the right, upon at least ten (10) days prior written notice to Landlord, to enter into a Permitted Transfer, as hereinafter defined, without: (i) obtaining Landlord’s consent, (ii) giving a Recapture Notice to Landlord, and (iii) paying Landlord any Transfer Profit.


More Definitions of Transfer Profit

Transfer Profit means the product of (x) the Transfer Rent Per Square Foot less the Rent Per Square Foot, and (y) the number of rentable square feet constituting the portion of the Premises subject to the Transfer;
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Transfer Profit means any Sublease Profit and/or Assignment Profit.
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Transfer Profit means, with respect to any period, the excess (if any) of (x) the Transfer Inflow for such period, over (y) the sum of (I) the Transfer Outflow for such period, and (II) the Amortized Transfer Expenses for such period.
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Transfer Profit means, with respect to any particular Transfer for any particular calendar month, the excess (if any) of (x) the Transfer Inflow for such Transfer for such calendar month, over (y) the sum of (I) the Transfer Outflow for such Transfer for such calendar month, and (II) the Amortized Transfer Expenses for such Transfer for such calendar month.
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Transfer Profit means (i) for a lease assignment, all consideration paid or payable therefor less Subtenant’s reasonable costs incurred in connection with such assignment, including, but not limited to, broker’s commissions and attorneys’ fees, and (ii) for a sublease, all rent, additional rent or other consideration paid by such transferee in excess of the total of (x) Rent payable by Tenant under this Sublease (on a monthly basis during the Term, and on a per rentable square foot basis, if less than all of the Premises is transferred), and (y) Subtenant’s reasonable costs incurred in connection with such assignment, including, but not limited to, broker’s commissions, attorneys’ fees, rent abatements, improvement allowances and the reasonable expense of any sublandlord’s work or improvements. Subtenant shall pay such Transfer Profit to Sublandlord on a monthly basis within ten (10) days after receipt thereof, without affecting or reducing any other obligations of Subtenant hereunder. Subtenant shall send each payment with a detailed statement. Sublandlord shall have the right to inspect Subtenant’s books and records to verify the accuracy of Subtenant’s statement.
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Transfer Profit means, with respect to any particular Transfer, the excess (if any) of (x) the Transfer Inflow for such Transfer for the period beginning on the first (1st) day of the term of the applicable Transfer (if such Transfer is a sublease or sublicense) or the date that such Transfer becomes effective (if such Transfer is an assignment of the tenant's interest under this Lease), over (y) the Transfer Outflow for such Transfer for such period. Should any amount included in the Transfer Inflow cause the Transfer Profit to fail to qualify as "rents from real property," as that term is defined in Section 856(d) of the Internal Revenue Code of 1986, as amended, the fair market value of such amount, as determined by Landlord in its sole discretion, shall be excluded from the Transfer Inflow and no Transfer Profit shall be paid to Landlord with respect to such excluded amount.
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Related to Transfer Profit

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Gross Profits means the gross profits calculated under section 4;

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • Follow-On Investment means an additional investment in the same issuer, including, but not limited to, through the exercise of warrants, conversion privileges or other rights to purchase securities of the issuer.

  • Distributable Profits has the meaning assigned to it in the LLC Agreement.

  • Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.

  • Permitted Business Investment means any Investment made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting oil, natural gas or other Hydrocarbons and minerals through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties including:

  • Permitted Joint Venture Investment means, with respect to any specified Person, Investments in any other Person engaged in a Permitted Business of which at least 40% of the outstanding Capital Stock of such other Person is at the time owned directly or indirectly by the specified Person.

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Net Profit means such profit as is calculated in accordance with paragraph 61;

  • Return on Invested Capital for a period shall mean earnings before interest, taxes, depreciation and amortization divided by the difference of total assets less non-interest bearing current liabilities.

  • Internet Assets means any Internet domain names and other computer user identifiers and any rights in and to sites on the worldwide web, including rights in and to any text, graphics, audio and video files and html or other code incorporated in such sites.

  • Distribution Reinvestment Plan means the distribution reinvestment plan of the Company approved by the Board and as set forth in the Prospectus.

  • Distributed Generation means generating plant equipment collectively used for generating electricity that is connected, or proposed to be connected, to the Network or a Customer's Installation, but does not include:

  • unrealized profits means the fair market value of the gain to such Person of replacing such Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date).

  • Liquidation Profits As to any Distribution Date and any Mortgage Loan that became a Liquidated Loan during the Applicable Unscheduled Principal Receipt Period with respect to Full Unscheduled Principal Receipts for such Distribution Date, the excess, if any, of (i) Net Liquidation Proceeds in respect of such Liquidated Loan over (ii) the unpaid principal balance of such Liquidated Loan plus accrued interest thereon in accordance with the amortization schedule at the time applicable thereto at the applicable Net Mortgage Interest Rate from the Due Date to which interest was last paid with respect thereto through the last day of the month preceding the month in which such Distribution Date occurs.

  • Minimum Investment means an investment in the project of at least two and one‑half million dollars within the investment period. If a county has an average annual unemployment rate of at least twice the state average during the last twenty‑four month period based on data available on the most recent November first, the minimum investment is one million dollars. The department shall designate these reduced investment counties by December thirty‑first of each year using data from the South Carolina Department of Employment and Workforce and the United States Department of Commerce. The designations are effective for a sponsor whose fee agreement is signed in the calendar year following the county designation. For all purposes of this chapter, the minimum investment may include amounts expended by a sponsor or sponsor affiliate as a nonresponsible party in a voluntary cleanup contract on the property pursuant to Article 7, Chapter 56, Title 44, the Brownfields Voluntary Cleanup Program, if the Department of Health and Environmental Control certifies completion of the cleanup. If the amounts under the Brownfields Voluntary Cleanup Program equal at least one million dollars, the investment threshold requirement of this chapter is deemed to have been met.

  • Operating Revenue means amounts accrued or charge to customers, cli- ents, and tenants, for the sale of prod- ucts manufactured or purchased for re- sale, for services, and for rentals of property held primarily for leasing to others. It includes both reimbursable costs and fees under cost-type con- tracts and percentage-of-completion sales accruals except that it includesonly the fee for management contracts under which the contractor acts essen- tially as an agent of the Government in the erection or operation of Govern- ment-owned facilities. It excludes inci- dental interest, dividends, royalty, and rental income, and proceeds from the sale of assets used in the business.