Triple Net Lease definition

Triple Net Lease means a Lease under which a single tenant leases all or substantially all of the rentable area of a Property where the tenant is responsible for payment of real estate taxes and assessments, repairs and maintenance, insurance, capital expenditures and other expenses relating to the operation of such Property customary for such Leases.

Triple Net Lease means that certain Triple Net Lease dated as of March 3, 2005 (as amended by that certain Amendment #1 to Triple Net Lease dated as of March 3, 2005) by and between PCHI, as lessor, and IHHI, as lessee, pursuant to which PCHI leased the Western Medical Center - Anaheim, the Western Medical Center - Santa Xxx, and the Coastal Community Hospital, to IHHI.

Triple Net Lease means a Lease representing all or substantially all of the rentable area of a Property where the tenant is responsible for real estate taxes and assessments, repairs and maintenance, insurance and other expenses relating to such Property, provided, that adequate insurance is maintained for such Property either by the tenant, the Company, a Subsidiary or a Joint Venture. Notwithstanding the foregoing, a Triple Net Lease may be subject to the landlord's express contractual obligations with respect to the payment of taxes, assessments, ground rents, utility charges, exterior maintenance and maintenance of all non-interior areas and any capital expenditures related thereto (such as roof, structure and parking) (the "CONTRACTUAL OBLIGATIONS") so long as the capital expenditures have been adequately accounted for in accordance with GAAP; provided, that the projected average annual Contractual Obligations shall not exceed 10% of the projected average gross annual rent under such Lease. For purposes of this definition, (a) the obligation of a landlord to make capital improvements or repairs as a condition to a tenant's occupancy (e.g., build to suit transactions) shall not be deemed to be an undertaking by such landlord of any tenant maintenance or repair obligations and (b) the improvements to be constructed by such landlord described in the immediately preceding clause (a) shall not be included as a capital expenditure.

Examples of Triple Net Lease in a sentence

• Popular types of lease agreements used for restaurants/retail stores include: a Modified Gross Lease, Percentage Lease or a Net Lease (Double Net Lease or Triple Net Lease).

• Popular types of lease agreements used for industrial properties include: a Gross Lease, a Modified Gross Lease or a Net Lease (Double Net Lease or Triple Net Lease).

• Lessee acknowledges that this is a Triple Net Lease and that Lessee shall do all acts and make all payments connected with or arising out of its use and occupation of the Premises to the end that Lessor shall receive all rent provided for herein free and undiminished by any expenses, charges, fees, taxes and assessments, and Lessor shall not be obligated to perform any acts or be subject to any liabilities or to make any payments, except as otherwise specifically and expressly provided in this Lease.

• The different types of net leases include: Triple Net Lease – the tenant pays a portion of the property taxes, property insurance, and CAM Double Net Lease – the tenant pays a portion of the property taxes and property insurance Single Net Lease – the tenant pays a portion of the property taxes Modified Gross Lease A modified gross lease (or modified net lease) is a hybrid of gross and net leases.

• This Exhibit is attached to and made a part of the Multi-Tenant Industrial Triple Net Lease (the “Lease”) by and between ICON OWNER POOL 1 SF NON-BUSINESS PARKS, LLC, a Delaware limited liability company (“Landlord”), and XXXXXX RESEARCH, INC., a South Carolina corporation (“Tenant”), for space in the Building located at 000 Xxxxx Xxxx, Xxxxxxx, Xxxxxxxxxx 00000.

More Definitions of Triple Net Lease

Triple Net Lease any Lease with respect to a Triple Net Project.

Triple Net Lease means a lease agreement under which the tenant or lessee is responsible for the real estate taxes, building insurance, and maintenance on the property in addition to rent and utilities.

Triple Net Lease. A lease in which the lessee assumes responsibility for, and bears the cost of, insurance (other than excess hull insurance), taxes, maintenance, repair and operation of the leased asset (but excluding in certain cases all or part of the cost of complying with airworthiness directives issued by the FAA or any other government agency having jurisdiction and with other regulatory requirements).

Triple Net Lease. This Lease is and shall be deemed and construed to be a "pure net" or "triple net" Lease and the fixed rent and supplemental payments specified herein shall be net to the Landlord in each month during the term of this Lease. COVENANTS OF TENANT: Tenant does hereby covenant and agree with Landlord as follows:

Triple Net Lease. Any Credit Lease pursuant to which the related Tenant generally has no right to xxxxx, offset, withhold or delay rent under such Credit Lease or to terminate such Credit Lease arising from a default on the part of the Mortgagor in the maintenance, repair, or replacement of the related Mortgaged Property, but may have a right to xxxxx, offset, withhold or delay rent under such Credit Lease or to terminate such Credit Lease arising from certain defined casualties, condemnation or a related default on the part of the Mortgagor's obligations in respect of matters other than maintenance, repair or replacement of the related Mortgaged Property.

Triple Net Lease. Any Credit Lease pursuant to which the related Tenant generally has no right to xxxxx, offset, withhold or delay rent under such Credit Lease or to terminate such Credit Lease arising from a default on the part of the Mortgagor in the maintenance, repair, or replacement of the related Mortgaged Property, but may have a right to xxxxx, offset, withhold or delay rent under such Credit Lease or to terminate such Credit Lease arising from certain defined casualties, condemnation or a related default on the part of the Mortgagor's obligations.

Triple Net Lease. Each Credit Lease identified as a Triple Net Lease on the Mortgage Loan Schedule.