Triple Net definition

Triple Net means, with respect to a lease, a lease in which the tenant pays not only for the use of the premises but also for the landlord’s operating costs, including taxes, maintenance and insurance. In the case of certain leases of the properties comprising the properties described under the heading “Use of Proceeds”, the tenant is also required to pay a nominal monthly fee in respect of property management, reflecting the single-tenant nature of the properties;

Triple Net. This Lease shall be deemed to be “triple net” without cost or expense to City of any nature whatsoever relating to the Leased Property, including, without limitation, those relating to taxes, if any, insurance, repair, maintenance, use, care or operation.

Triple Net. PROVISIONAL (OPTIONAL)

Examples of Triple Net in a sentence

• Landlord and Tenant acknowledge that, except as otherwise provided to the contrary in this Lease, it is their intent and agreement that this Lease be a "TRIPLE NET" lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant's operation therefrom.

• In addition to the Base Rent, the Tenant shall be obligated to pay the following monthly expenses _ _ _ __ _ Landlord shall pay the following monthly expenses: _ _ _ _ _ _ _ ☐ - TRIPLE NET (NNN).

• In addition to the Base Rent, the Tenant shall be obligated to pay the following monthly expenses _ __ _ _ __ _ Landlord shall pay the following monthly expenses: _ _ _ _ _ _ ☐ - TRIPLE NET (NNN).

• Landlord and Tenant acknowledge that, to the extent provided in this Lease, it is their intent and agreement that this Lease be a "TRIPLE NET" lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant's operation therefrom to the extent provided in this Lease.

• In addition to the Base Rent, the Lessee shall be obligated to pay the following monthly expenses: Lessor shall pay the following monthly expenses: ☐ - TRIPLE NET (NNN).

More Definitions of Triple Net

Triple Net. PROVISION. (Optional). This provision shall be applicable. Tenant agrees that all duties and obligations to repair, maintain and provide utilities and services (paragraphs 6 and 7), to pay taxes and special assessments (paragraph 10) and to pay for casualty and liability insurance (paragraph 11) shall be borne solely by Tenant during the term of this lease. (If the parties select this provision, all duties and obligations set forth in paragraphs 6, 7, and 10 shall be performed by the Tenant).

Triple Net means all Taxes, Insurance and Maintenance obligations which shall be the sole responsibility of Lessee as provided in this Agreement. The Parties intend that this Agreement is intended to be a Triple Net agreement with all maintenance, repair, replacement, taxes, assessments, and insurance costs borne by Lessee and with no financials obligations by District whatsoever and shall be construed to the broadest extent possible in light of that intent.

Triple Net means with respect to a lease, a lease in which the tenant pays not only for the use of the premises but also for the landlord’s operating costs, including taxes, utilities and insurance. The tenant is also responsible for all repairs to the leased premises, including those of a capital or structural nature (except as described in the immediately following sentence), and normal day-to-day maintenance, including snow removal, outdoor maintenance and gardening, pest control, painting and decorating and maintenance of parking lots. The leases in respect of the REIT’s properties located in Canada and in respect of the Continuum Senior Care Portfolio contain an exception that the landlord will be responsible for replacing, at its own cost, but only to the extent required due to a major structural defect, all structural elements as and when necessary as determined by the REIT, as would a prudent owner of a building similar to the facility.

Triple Net. The lease shall be "Triple Net". Tenant shall pay for all utilities, taxes and insurance associated with the Premises and Building. POSSESSION: Landlord to deliver the Premises in its "as-is, where-is, and with-all-faults" condition on the Commencement Date. RENT COMMENCEMENT: Rent will commence upon completion and certificate of occupancy of the Building and grounds improvements. RENEWAL TERM: Tenant shall have the option to renew, subject to Council approval, the Lease for three additional terms of 60 months. Upon renewal, the rent will increase by 2% each year.

Triple Net means with respect to a lease, a lease in which the tenant pays not only for the use of the premises but also for the landlord’s operating costs, including taxes, utilities and insurance. The tenant is also responsible for allrepairs to the leased premises, including those of a capital or structural nature, and normal day-to-day maintenance, including snow removal, outdoor maintenance and gardening, pest control, painting and decorating and maintenance of parking lots.

Triple Net means rent which is net of property tax, insurance and maintenance costs, all of which are paid by the tenant;

Triple Net means Triple Net, Ltd., a Turks and Caicos company.