Computation of Additional Rent Sample Clauses
The Computation of Additional Rent clause defines how extra charges beyond base rent are calculated and billed to the tenant. Typically, this clause outlines the specific expenses—such as property taxes, insurance, or maintenance costs—that the tenant must pay in addition to the standard rent, and describes the method and timing for determining and invoicing these amounts. Its core function is to ensure transparency and fairness in allocating variable property-related costs between landlord and tenant, preventing disputes over unexpected or unclear charges.
Computation of Additional Rent. Tenant shall pay Additional Rent for each Adjustment Year determined as hereinafter set forth. Additional Rent payable by Tenant with respect to each Adjustment Year during which an Adjustment Date falls shall include the following amounts:
(i) the amount by which Tenant's Proportionate Share, multiplied by the Expenses for such Adjustment Year exceeds the Expense Stop Amount stipulated in the Schedule (said excess being called the "Expense Adjustment"); plus
(ii) the amount by which Tenant's Proportionate Share, multiplied by the Taxes for such Adjustment Year exceeds the Tax Stop Amount stipulated in the Schedule (said excess being called the "Tax Adjustment").
Computation of Additional Rent. Tenant shall pay as Additional Rent for each Calculation Year the following amounts:
(i) Tenant’s Proportionate Share of Taxes for such Calculation Year (the “Tax Adjustment”); plus
(ii) Tenant’s Proportionate Share of Expenses for such Calculation Year (the “Expense Adjustment”).
Computation of Additional Rent. During each December of the Lease Term, or as soon thereafter as reasonably practical, Landlord shall provide Tenant with its good faith written estimate of the amount, if any, by which the Tax Costs (as defined in Article 4.3 below) and/or the Operating Costs (as defined in Article 4.4 below) for the coming calendar year are projected to exceed those of the Base Year (collectively referred to as “Estimated Pass-through Costs”). On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord as additional rent (“Additional Rent”), in addition to and at the time provided for payment of Base Rent, one-twelfth (1/12th) of the amount computed by multiplying Tenant’s Percentage Share by the amount of the Estimated Pass-through Costs for Taxes and/or one-twelfth (1/12th) of the amount computed separately with respect to Operating Costs. In the event that Landlord does not provide Tenant with such written estimate in December, Tenant shall continue to make monthly payments of Additional Rent on the basis of the prior year’s Estimated Pass-through Costs until the first day of the month after Landlord provides such written estimate to Tenant, at which time Tenant shall commence making monthly Additional Rent payments based upon the revised Estimated Pass-through Costs, and additionally shall pay to Landlord a one-time retroactive sum for each month that has elapsed since December the amount by which the Additional Rent payable pursuant to the revised Estimated Pass-through Costs exceeds the amount Tenant paid based on the prior year’s Estimated Pass-through Costs. Landlord shall use its commercially best efforts to deliver its written estimate within six (6) months of the end of the calendar year. Under no circumstances shall the provisions of this Article 4 cause the Base Rent to be reduced. Neither Landlord’s failure to deliver, nor the late delivery of such statement or statements shall constitute a default by Landlord hereunder, nor a waiver of Landlord’s right to receive any Additional Rent or to later collect Additional Rent accrued as provided hereinabove. The Tax Costs and Operating Costs for the Base Year shall be deemed to constitute Landlord’s agreed contribution to Operating Costs and Tax Costs and is neither a representation nor a warranty that such Base Year costs will reflect actual Operating Costs or Tax Costs for any succeeding year. If, during any calendar year including the Base Year, the Building is less t...
Computation of Additional Rent. The determination and computation of the Additional Rent shall be made by Landlord. The Additional Rent shall equal the product of (a) Tenant’s Pro Rata Share of Operating Costs multiplied by the difference between Operating Costs minus the Operating Cost Base Amount; (b) Tenant’s Pro Rata Share of Property Taxes multiplied by the difference between Property Taxes minus the Property Tax Base Amount; and (c) Tenant’s Pro Rata Share of Insurance Costs multiplied by the difference between Insurance Costs minus the Insurance Base Amount. After the close of each calendar year, Landlord shall deliver to Tenant a written statement setting forth the Additional Rent payable for the preceding calendar year. If the Additional Rent exceeds the Additional Rent Estimate paid by Tenant, Tenant shall pay the amount of such excess to Landlord within thirty (30) days after delivery of such statement to Tenant. If such statement shows the Additional Rent to be less than the Additional Rent Estimate paid by Tenant, then the amount of such overpayment shall be paid by Landlord to Tenant within thirty (30) days following the date of such statement or, (unless the Lease has ended) at Landlord’s option, shall be credited toward future installment(s) of Additional Rent Estimate.
Computation of Additional Rent. Tenant shall pay Additional Rent for each Adjustment Year determined as hereinafter set forth. Additional Rent payable by Tenant with respect to each Adjustment Year during which an Adjustment Date falls shall include the following amounts:
(i) Tenant's Proportionate Share multiplied by the Expenses for such Adjustment Year (the "Expense Adjustment"); plus
(ii) Tenant's Proportionate Share multiplied by the Taxes for such Adjustment Year (the "Tax Adjustment").
Computation of Additional Rent. Tenant shall pay Tenant’s Proportionate Share of Taxes in excess of “Base Amount Taxes” and Tenant’s Proportionate Share of Expenses in excess of “Base Amount Expenses.” For purposes hereof, “Base Amount Taxes” shall be an amount equal to Tenant’s Proportionate Share of Taxes for the 2004 calendar year and “Base Amount Expenses” shall be an amount equal to Tenant’s Proportionate Share of Expenses for the 2004 calendar year. Commencing in the 2005 year, Tenant’s Proportionate Share of Expenses other than insurance and snowplowing shall not increase by more than ten cents per square foot over the previous calendar year.
Computation of Additional Rent. Tenant shall pay Additional Rent for each Adjustment Year determined as hereinafter set forth. Additional Rent payable by Tenant with respect to each Adjustment Year during which an Adjustment Date falls shall include the following amounts:
(i) the amount by which Tenant's Proportionate Share, multiplied by the Expenses for such Adjustment Year exceeds the Expense Stop Amount stipulated in the Schedule (said excess being called the "Expense Adjustment"); plus
(ii) the amount by which Tenant's Proportionate Share, multiplied by the Taxes for such Adjustment Year exceeds the Tax Stop Amount stipulated in the Schedule (said excess being called the "Tax Adjustment"); plus
(iii) Intentionally Deleted.
Computation of Additional Rent. Subject to the Abatement, Tenant shall pay as Additional Rent for each Calculation Year (as defined in Exhibit C) the following amounts:
(i) Tenant’s Proportionate Share of the amount by which the Taxes (as defined in Exhibit C) for such Calculation Year exceed the Taxes for the Base Year (the “Tax Adjustment”); plus
(ii) Tenant’s Proportionate Share of the amount by which Expenses (as defined in Exhibit C) for such Calculation Year exceed the Expenses for the Base Year (the “Expense Adjustment”).
Computation of Additional Rent. 8 4.4. Payments of Additional Rent; Projections ........................................................................................ 9 4.5. Readjustments ................................................................................................................................... 9 4.6. Books and Records; Audit Procedures .............................................................................................. 9 4.7. Proration and Survival .................................................................................................................... 10 4.8. Rental Tax ....................................................................................................................................... 10 ARTICLE 5.
Computation of Additional Rent. Commencing on the Commencement Date, Tenant shall pay Additional Rent for each Adjustment Year determined as hereinafter set forth. Additional Rent payable by Tenant with respect to each Adjustment Year shall include the following amounts:
9 (a) the product of Tenant’s Proportionate Share multiplied by the amount of Taxes for such Adjustment Year (said amount being hereinafter referred to as the “Tenant’s Tax Amount”); plus (b) the product of Tenant’s Proportionate Share multiplied by the amount of Expenses for such Adjustment Year (said amount being hereinafter referred to as the “Tenant’s Expense Amount”). ▇▇▇▇▇▇ agrees and acknowledges that ▇▇▇▇▇▇▇▇ has made no representation, warranty or guaranty relating to the amount of Taxes and Expenses. Landlord represents that the following is its good faith estimate of the following expenses for the first Adjustment Year: ▇▇▇▇▇▇’s Tax Amount is estimated to be $1.60 per square foot, and Tenant’s Expense Amount is estimated to be $0.65 per square foot (exclusive of the management fee). The parties acknowledge that the Building is newly constructed and that the foregoing amounts are only estimates.