ADDITIONAL RENT - COMMON AREA EXPENSES Sample Clauses
The "Additional Rent - Common Area Expenses" clause requires tenants to pay a share of the costs associated with maintaining and operating the common areas of a property, such as lobbies, hallways, parking lots, and landscaping. Typically, these expenses are calculated based on the tenant's proportionate share of the total leased space and are billed in addition to the base rent. This clause ensures that the financial responsibility for shared spaces is distributed fairly among all tenants, preventing the landlord from bearing the full cost and promoting the upkeep of communal facilities.
ADDITIONAL RENT - COMMON AREA EXPENSES. Tenant shall pay to the Landlord as additional rent for the Premises, Tenant’s proportionate share (5.81%)(Proportion share will remain at the same rate for the life of Lease), of the expenses attributable to “Common Areas” (hereafter defined). If, when billed, the Tenant’s proportionate share has been estimated, the Landlord shall, upon receipt of the ▇▇▇▇ for Common area expenses for the applicable year compute the actual amount payable by the Tenant and either refund overpayment or ▇▇▇▇ the Tenant for underpayment. ▇▇▇▇▇▇▇▇ for additional rental for Common Area Expenses are due within ten (10) days following receipt of the invoice. Late payments are subject to late charges as included in Section 1.7. The Landlord shall in good faith estimate the “Common area expenses” (hereafter defined) to be incurred by the Landlord during each year of the Lease and a sum equal to one-twelfth (1/12th) thereof shall be paid by the Tenant each month of the term of this Lease. Landlord and Tenant agree that effective October 1, 2009, Tenant’s Common Area Expense Rate will be set at $1.86 per square foot. Notwithstanding anything contained herein to the contrary, in no event shall the Common Area Expense Rate increase by more than 10% per annum over the previous year. “Common area expenses” shall mean any and all reasonable expenses incurred by the Landlord in connection with common areas within the Office Building and Development, including, but not limited to, snow removal, landscaping, exterior window washing, parking lot, roof, exterior wall, foundation, sidewalk repair and maintenance, cleaning, fire and extended coverage insurance and liability insurance against casualties in such Common Areas, management fees, all other repairs and maintenance, depreciation of any equipment used in maintaining the Common Area and other expenses usually and customarily charged to tenants as Common Area expenses in like industrial developments. Landlord expressly reserves the right to determine the manner in which these common areas shall be maintained. Within ninety (90) days following the end of each calendar year during the term of the Lease, Landlord will furnish Tenant with a Statement of Common area expenses prepared and certified to by an independent certified public accountant, which Statement shall be binding on Landlord and Tenant. Any overpayment made by the Tenant shall be refunded to Tenant and any underpayment shall be billed to and paid by Tenant. In the event of any d...
ADDITIONAL RENT - COMMON AREA EXPENSES. Tenant shall pay to the Landlord as additional rent for the Premises, Tenant's proportionate share (6.51%) of the expenses attributable to "Common Areas" (hereafter defined). If, when billed, the Tenant's proportionate share has been estimated, the Landlord shall, upon receipt of the bill for Common area expenses for the applicable year compute the ac▇▇▇▇ amount payable by the Tenant and either refund overpayment or bill the Tenant for underpayment. Billings for additional rental for ▇▇▇mon Area Expense are due withi▇ ▇▇▇ (▇0) days following receipt of the invoice. Late payments are subject to late charges as included in Section 1.7. The Landlord shall in good faith estimate the "Common area expenses" (hereafter defined) to be incurred by the Landlord during each year of the Lease and a sum equal to one twelfth (1/12th) thereof shall be paid by the Tenant each month of the term of this Lease.
ADDITIONAL RENT - COMMON AREA EXPENSES. Tenant shall pay to the Landlord as additional rent for the Premises, Tenant's proportionate share (5.26%) of the expenses attributable to "▇▇▇▇▇n Areas" (hereafter defined). The Landlord shall in good faith estimate the "Common area expenses" (hereafter defined) to be incurred by the Landlord during each year of the Lease and a sum equal to one-twelfth (1/12th) thereof shall be paid by the Tenant each month of the term of this Lease.
ADDITIONAL RENT - COMMON AREA EXPENSES. Tenant shall pay to the Landlord as additional rent for the Premises, Tenant's Proportionate Share (6.33 %) of the expenses attributable to "Common Areas" (hereafter defined). B▇▇▇▇▇▇▇ for additional rental for Real Estate Expenses are due within ten (10) days following receipt of the invoice. Late payments are subject to late charges as included in Section 1.7. he Landlord shall in good faith estimate the "Common Area Expenses" (hereafter defined) to be incurred by the Landlord during each year of the Lease and a sum equal to one-twelfth (1/12th) thereof shall be paid by the tenant each month of the term of this Lease.