Common use of Calculation of Proportionate Share of Complex Clause in Contracts

Calculation of Proportionate Share of Complex. For purposes of this Lease, and except as set forth below, the term “Proportionate Share’’ means the total rentable square footage of the Premises divided by the total rentable square footage of the Complex. The total rentable square footage of the Complex shall be deemed to equal 614,976 rentable square feet regardless of the actual square footage. Consequently, as of the Commencement Date of this Lease, Tenant’s Proportionate Share of the Complex equals thirty-four and 76/100 percent (34.76%). Tenant’s Proportionate Share shall be adjusted to account for any changes in the rentable square footage of the Premises and/or any changes in the rentable square footage of the Complex that occur following the execution of this Lease. Furthermore, as to expenses that relate to part but not all of the Complex, Landlord may, but shall not be required to, reasonably, equitably and consistently though out the Complex allocate such expenses to that portion of the Complex to which such expenses apply and, in that event, Tenant’s Proportionate Share as to such expenses shall be as reasonably and equitably determined by Landlord (and such figure shall be deemed Tenant’s “Proportionate Share” as set forth herein with respect to such expenses).

Appears in 1 contract

Sources: Lease Agreement (Intuit Inc)

Calculation of Proportionate Share of Complex. For purposes of this Lease, and except as set forth below, the term “Proportionate Share’’ means the total rentable square footage of the Premises divided by the total rentable square footage of the Complex. The total rentable square footage of the Complex shall be deemed to equal 614,976 rentable square feet regardless of the actual square footage. Consequently, as of the Commencement Date of this Lease, Tenant’s Proportionate Share of the Complex equals thirty-four three and 76/100 43/100 percent (34.7633.43%). Tenant’s Proportionate Share shall be adjusted to account for any changes in the rentable square footage of the Premises and/or any changes in the rentable square footage of the Complex that occur following the execution of this Lease. Furthermore, as to expenses that relate to part but not all of the Complex, Landlord may, but shall not be required to, reasonably, equitably and consistently though out the Complex allocate such expenses to that portion of the Complex to which such expenses apply and, in that event, Tenant’s Proportionate Share as to such expenses shall be as reasonably and equitably determined by Landlord (and such figure shall be deemed Tenant’s “Proportionate Share” as set forth herein with respect to such expenses).

Appears in 1 contract

Sources: Lease Agreement (Intuit Inc)