Common use of Electricity Clause in Contracts

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes the agreed sum of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as of the date of the increase of Landlord's electric rate. Landlord shall not be liable in any way to Tenant for any failure or defect in the supply or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agent

Appears in 2 contracts

Sources: Lease (Ticketmaster Online Citysearch Inc), Lease (Citysearch Inc)

Electricity. Section 4.01(a) (i) As of the Commencement Date, Landlord shall furnish electrical service to the Premises of such quality and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square foot. The Fixed Rent reserved Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in this Lease includes the agreed Premises the sum of $20,785.44 101,355.00 per annum payable in consideration equal monthly installments of which $8,446.25. The Electric Inclusion Amount is based upon Landlord’s assumption that Tenant’s initial electrical installation will not result in a total connected electrical load for lighting, as an additional serviceand equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, will supply Tenant with electricity except for normal the purpose of office cleaning, use in the Demised Premises between the hours electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 6:00 8 A.M. to 12 P.M. on Saturdays (“Normal Business DaysHours”). Accordingly, if Tenant’s electricity consumption exceeds such criteria, the Electric Inclusion Amount shall from time to time be equitably adjusted to reflect the resulting increase in such use. In addition, Landlord shall have the right to conduct a periodic survey of Tenant’s actual electrical usage and increase the Electric Inclusion Amount if the survey indicates the Tenant’s usage of electricity exceeds the cost of $2.50 per rentable square feet of the Premises. Landlord shall furnish a statement of Landlord’s determination as to the amount of the adjustment, and the same shall become binding upon the parties unless, within thirty (30) days, Tenant notifies Landlord that it disputes the amount of such adjustment, in which event the parties shall in good faith make reasonable attempts to come to agreement, and, if Landlord and Tenant cannot agree that thereon, the aforesaid sum was determined amount of such adjustment shall be determined, based on standard practices, by an independent electrical survey, a copy consultant selected by Landlord. Tenant shall permit said consultant to have access to the Premises and Tenant’s electrical facilities for the foregoing purpose at all reasonable times. The fee of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity such consultant shall be supplied 24 hours a daypaid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, seven days a week, however in which case the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease fee shall be adjusted paid by applying Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to the sum specified abovereflect such adjustment, the same percentage as such rate increase, and such adjusted Fixed Rent which shall be billed by Landlord to Tenant, with effect as of effective from the date of such adjustment, which agreement shall be reasonably acceptable to Tenant. Any adjustment shall be effective even if such supplementary agreement (in form reasonably approved by Tenant) is not executed and delivered. Pending the increase of Landlord's electric rate. Landlord shall not be liable in any way to Tenant for any failure or defect in the supply or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission determination of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's optionadjustment, Tenant shall purchase from pay to Landlord the Landlord or amount of such adjustment as specified in Landlord's agent all lighting tubes’s statement. Thereafter, lamps, bulbs and ballasts used in the Demised Premises and if it is determined that Tenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitivehas overpaid, Tenant shall no longer receive a credit against Additional Rent in the amount of the overpayment, said credit to be required to purchase same from Landlord or Landlord's agentapplied against the next accruing installment(s) of Additional Rent.

Appears in 2 contracts

Sources: Lease (Surgiquest Inc), Lease (Surgiquest Inc)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes (a) Tenant shall pay to Landlord as Additional Rental the agreed sum of $20,785.44 49,000.00 per annum payable in consideration equal monthly installments of which Landlord, as an additional service, will supply Tenant with electricity for normal use $4,083.33 per month (the "Electrical Inclusion Amount") on account of Tenant's consumption of electrical energy in the Demised Premises. The Electric Inclusion Amount is based upon Landlord's assumption that Tenant's initial electrical installation will not result in a total connected electrical load for lighting, and equipment will not be in excess of, six ▇▇▇▇▇ per rentable square foot of the Demised Premises between and that Tenant will, except for the purpose of office cleaning, use electrical energy only during normal weekday operating hours 8:00 A.M. of the Building. Accordingly, if Tenant's initial electrical installation exceeds such criteria, or if from time to time Tenant makes material use of electricity during hours other than normal weekday operating hours of the Building, or if from time to time Tenant after completion of its initial installation adds or changes any machinery, appliances or equipment which increases the aggregate electrical load in the Demised Premises, the Electric Inclusion Amount and 6:00 P.M. on Business Daysthe Additional Rent shall from time to time be equitably adjusted to reflect the resulting increase in such use. In addition, Landlord shall have the right to conduct a periodic survey of Tenant's actual electrical usage and increase the Electric Inclusion Amount if the survey indicates the Tenant's usage of electricity exceeds the cost of $1.75 per rentable square feet of the Demised Premises. Landlord shall furnish a statement of Landlord's determination as to the amount of the adjustment, and the same shall become binding upon the parties unless, within thirty (30) days, Tenant notifies Landlord that it disputes the amount of such adjustment, in which event the parties shall in good faith make reasonable attempts to come to agreement, and, if Landlord and Tenant cannot agree that thereon, the aforesaid sum was determined amount of such adjustment shall be determined, based on standard practices, by an independent electrical survey, a copy consultant selected by Landlord. Tenant shall permit said consultant to have access to the Demised Premises and Tenant's electrical facilities for the foregoing purpose at all reasonable times. The fee of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity such consultant shall be supplied 24 hours a daypaid by Tenant unless such consultant finds that Tenant's use does not justify an increase in Additional Rent, seven days a week, however in which case the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease fee shall be adjusted paid by applying Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to the sum specified abovereflect such adjustment, the same percentage as such rate increase, and such adjusted Fixed Rent which shall be billed by Landlord to Tenant, with effect as of effective from the date of the increase of such usage as determined by such electrical consultant and shall be made retroactively if necessary. Any adjustment shall be effective even if such supplementary agreement (in form reasonably approved by Tenant) is not executed and delivered. Pending the determination of the adjustment, Tenant shall pay to Landlord the amount of such adjustment as specified in Landlord's statement. Thereafter, if it is determined that Tenant has overpaid, Tenant shall receive a credit against Additional Rent in the amount of the overpayment, said credit to be applied against the next accruing installment(s) of Additional Rent. (b) Landlord reserves the right to discontinue furnishing electric rateenergy to the Demised Premises at any time upon not less than ninety (90) days notice to Tenant in which event Tenant shall arrange to obtain electric service directly from the utility providing electric service to the Building. If Landlord exercises such right of termination, this Lease shall continue in full force and effect and shall be unaffected thereby, except only that, from and after the effective date of such discontinuance, Landlord shall not be liable obligated to furnish electric energy to Tenant, and the Additional Rent payable under this Lease shall be reduced by the Electric Inclusion Amount then in effect. If Landlord voluntarily discontinues furnishing electric energy to Tenant, Landlord shall, prior to the effective date of such discontinuance, at Landlord's expense, make such changes in panel boards, feeders, risers, wiring and other conductors and equipment to the extent required to permit Tenant to obtain electric energy directly from the public utility company. If, on the other hand, Landlord is required by any legal requirements to discontinue furnishing electric energy to Tenant, Landlord shall make such changes in panel boards, feeders, risers, wiring and other conductors and equipment in order to permit Tenant to obtain electric energy directly from the public utility company. (c) If any tax is imposed upon Landlord with respect to electrical energy furnished as a service to Tenant by any government authority, Tenant agrees that, where permitted by law or applicable regulations, Tenant's pro rata share of such taxes shall be reimbursed by Tenant to Landlord upon demand. (d) Landlord shall not in any way be liable or responsible to Tenant for any failure loss or defect in damage or expense which Tenant may sustain or incur if either the supply quantity or character of electric energy furnished to the Demised Premises by reason service is changed or is no longer available or suitable for Tenant's requirements. Tenant's use of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used electric current in the Demised Premises shall not at any time exceed the capacity of any of the electrical conductors and Tenant shall pay Landlordfacilities in or otherwise serving the Demised Premises. In order to insure that such capacity is not exceeded and to avert any possible adverse effect upon the Building's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitiveelectric service, Tenant shall no longer be required to purchase same from Landlord or not, without Landlord's agentprior written consent in each instance, connect any fixtures, appliances or equipment (other than a reasonable number of table or floor lamps, typewriters, word processors, small computers, photocopy machines and similar small office machines using comparable electric current) to the Building's electric distribution system nor make any alteration or addition to the electric system of the Demised

Appears in 1 contract

Sources: Lease (Matrixone Inc)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes (a) Landlord shall redistribute or furnish electricity to or for the agreed sum use of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use in the Demised Premises between for the hours 8:00 A.M. operation of Tenant's electrical systems and 6:00 P.M. equipment in the Premises, at a level sufficient to accommodate, on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical surveyaverage, a copy demand load of which is annexed hereto as Schedule F and made a part hereof six watts per usable square foot of office space in the Premises. An ▇▇▇▇▇ated charge for such electricity (the "Electric SurveyELECTRICAL INCLUSION FACTOR" ) is included in Fixed Rent on a so-called ")rent inclusion" basis; however, the value to Tenant of such service may not be fully reflected in Fixed Rent. Electricity shall be supplied 24 hours a dayAccordingly, seven days a week, however Tenant agrees that following the commencement of Tenant's ordinary business activities in the event Premises, Landlord may cause an independent electrical engineer or electrical consulting firm selected by Landlord ("LANDLORD'S CONSULTANT") to make a determination, certified in writing to Landlord and Tenant, of the full value of the electrical service supplied to Tenant, based upon a survey indicating the lighting load, office equipment and all other electrical usage by Tenant. Thereafter, either Landlord or Tenant uses (by an independent electrical engineer or electrical consulting firm selected by Tenant, hereinafter referred to as "TENANT'S CONSULTANT") may, at any time and from time to time upon notice to the other party, but not more frequently than annually (unless Tenant has materially changed its occupancy of the Premises or its use of electricity in excess the Premises) at its sole option, cause Landlord's Consultant or Tenant's Consultant, as the case may be, to make subsequent determinations of that contemplated the then full value of the electrical service supplied to Tenant on the basis set forth in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofimmediately preceding sentence. If Landlord's electric rates (i.e.Consultant determines that the full value of the electrical service supplied to Tenant exceeds the Electrical Inclusion Factor, the public utility rate schedule at the as adjusted from time to time in questionaccordance with this SECTION 10.1, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying subject to the sum specified aboveterms and provisions of SECTIONS 10.1(b) AND 10.1(d), the same percentage as such rate increasethen, and such adjusted Fixed Rent shall be billed upon notice by Landlord to Tenant, with effect Fixed Rent and the Electrical Inclusion Factor shall be increased to reflect the full value, on an annual basis, of such increased electrical usage by Tenant. Any increase in Fixed Rent and the Electrical Inclusion Factor shall be effective as of the date of the increase in Tenant's electrical usage, as determined by the survey, and Tenant's liability therefor shall be retroactive to such date. If Tenant's Consultant determines that the full value of the electrical service supplied to Tenant is lower than the Electrical Inclusion Factor, as adjusted from time to time in accordance with this SECTION 10.1, subject to the terms and provisions of SECTIONS 10.1(b) AND 10.1(d), then, Fixed Rent and the Electrical Inclusion Factor shall be decreased to reflect the full value, on an annual basis, of such decreased electrical usage by Tenant. Any decrease in Fixed Rent and the Electrical Inclusion Factor, subject to the terms and provisions of SECTION 10.1(d), shall be effective as of the date of the decrease in Tenant's electrical usage, as determined by the survey, and any overpayment made by Tenant shall be credited by Landlord against subsequent installments of Rent due hereunder or if such credit remains outstanding as of the Expiration Date or any earlier termination of this Lease, Landlord shall pay the amount thereof to Tenant within 30 days thereafter. The computation of the Electrical Inclusion Factor under this ARTICLE 10 is intended to constitute a formula for an agreed rental adjustment and may or may not constitute an actual reimbursement to Landlord for the electrical service supplied to Tenant pursuant to this Lease. If any tax is imposed on Landlord's electric rate. Landlord shall not be liable in any way receipts or income from the redistribution, furnishing, or sale of electricity to Tenant as provided for any failure or defect in the supply or character of electric energy furnished above (other than a general tax on corporate income not specific to the Demised Premises by reason provision of electricity), whether based on the Electrical Inclusion Factor or any requirementincrease therein provided for above, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's optionotherwise, Tenant shall purchase from reimburse Landlord for such tax, if and to the Landlord or Landlord's agent all lighting tubesextent permitted by law. Notwithstanding any provision of this Lease to the contrary, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor to Landlord the Electrical Inclusion Factor (which is included in Fixed Rent) from and after each Commencement Date in respect of each portion of the Premises even if Fixed Rent in respect of such portion of the Premises (other than the Electrical Inclusion Factor) is not otherwise payable hereunder until the Rent Commencement Date in respect of such portion of the Premises, which payment shall be commercially competitivemade at the same time and in the same manner as Fixed Rent (whether or not then payable). All electricity used during the performance of cleaning services, or the making of any Alterations or Restorative Work in the Premises, or the operation of any supplemental or special air-conditioning systems serving the Premises, shall be paid for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentby Tenant.

Appears in 1 contract

Sources: Lease (Franklin Resources Inc)

Electricity. Section 4.0112.01. The Fixed Rent reserved Tenant shall make no alterations or additions to the electrical distribution system, electrical equipment or appliances without the prior written consent of Landlord in this Lease includes each instance. Tenant covenants and agrees that at all times its use of electric current shall not exceed the agreed sum capacity of $20,785.44 per annum existing feeders to the Building or the risers or wiring installation therein and Tenant may not use any electrical equipment which, in consideration of which Landlord, as an additional service's sole judgment, will supply overload such installations or interfere with the use thereof by other tenants of the Building. 12.02. Landlord shall furnish at Tenant's expense electric current to Tenant with electricity for normal use in the Demised Premises between in accordance with the hours 8:00 A.M. Building electric design of two (2) ▇▇▇▇▇ per square foot of Useable Area for lighting and 6:00 P.M. on Business Daysone (1) watt per square foot of Useable Area for power. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof responsible for the supply installation, cost, operation and maintenance of electric energy to such additional fixtures or systems and business machines as Tenant shall deem necessary and which Landlord for shall permit in writing in accordance with the Building) are increased, the Fixed Rent reserved in provisions of this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, accommodate any total lighting and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as of the date of the increase of Landlord's electric rate. Landlord shall not be liable in any way to Tenant for any failure or defect in the supply or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used power electrical load in the Demised Premises and occasioned by Tenant's use thereof in excess of three (3) ▇▇▇▇▇ per square foot of Useable Area. 12.03. Except as otherwise provided in Section 12.08 hereof, effective as of the Commencement Date, Tenant shall pay Landlordto Landlord as Additional Rent an amount determined by multiplying the Tenant's reasonable charges therefor Rentable Area by $2.25 per square foot (subject to adjustment as hereinafter specified), said sum to be composed of the following: (i) for Tenant's consumption of electrical power in the Demised Premises, an amount determined by multiplying the Rentable Area by a factor (hereinafter called the "Demised Premises Electricity Factor") of $1.25 per square foot, and (ii) for Tenant's Pro-Rata Share (as defined in Section 1.02) of the Building Electricity Costs (as hereinafter defined), an amount determined by multiplying the Rentable Area by a factor (hereinafter called the "Building Electricity Factor") of $1.00 per square foot. As used in this Article XII, "Building Electricity Costs" shall mean all costs and expenses incurred by the Landlord for the purchase and/or use of electricity (a) throughout the Building during Normal Business Hours (as defined by Section 24.08 hereof), which shall include but not be commercially competitivelimited to that electricity used for all heating, ventilating, air-conditioning, machinery, mechanical and service facilities, elevators, lobbies, entrances, corridors, stairwells, bathrooms, elevators, and loading docks, and (b) for providing Building site lighting and installing same on demandafter Normal Business Hours. Building Electricity Costs shall not include: (x) electricity for which any tenant in the Building is obligated to pay Landlord pursuant to the provisions of Section 12.03(i), as additional rent; if Landlord's charges and (y) electricity provided to other tenants in the Building for heating, ventilating or air-conditioning after Normal Business Hours. The Demised Premises Electricity Factor and the Building Electricity Factor shall cease both be subject to be commercially competitiveadjustment pursuant to the provisions of Sections 12.04, Tenant shall no longer be required to purchase same from Landlord or Landlord's agent12.05 and 12.

Appears in 1 contract

Sources: Lease Agreement (Greenstone Roberts Advertising Inc)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes A. Owner, at Owner's expense, shall redistribute 30 or furnish electrical energy to or for the agreed sum use of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as operation of the date of lighting fixtures and the increase of Landlord's electric rate. Landlord shall not electrical receptacles to be liable in any way to Tenant for any failure or defect in the supply or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used installed in the Demised Premises and Tenant shall pay Landlordas shown on Tenant's reasonable charges therefor which Plan to be approved by Owner. There shall be commercially competitive, for providing and installing same no specific charge by way of measuring such electrical energy on demandany meter or otherwise, as additional rent; if Landlord's charges shall cease the charge for the service of redistributing or furnishing such electrical energy has been included in the Fixed Rent on a so-called "rent inclusion" basis. The parties agree that although the charge for the service of redistributing or furnishing electrical energy is included in the Fixed Rent on a so-called "rent inclusion" basis, the value to Tenant of such service may not be commercially competitivefully reflected in the Fixed Rent. Accordingly, Tenant agrees that Owner may cause an independent electrical engineer or electrical consulting firm, selected by Owner and approved by Tenant, to make a determination within one (1) year following the commencement of Tenant's normal business activities in the Demised Premises, of the full value to Tenant of such services supplied by Owner, to wit: the potential electrical energy supplied to Tenant annually based upon the estimated capacity of the electrical feeders, risers and wiring and other electrical facilities serving the Demised Premises. Such engineer or consulting firm shall certify such determination in writing to Owner and Tenant. If it shall be determined that the full value to Tenant of such service is in excess of NINETEEN THOUSAND TWO HUNDRED SIXTY-SEVEN AND 48/100 ($19,267.48) DOLLARS (such sum is referred to as the "Electrical Inclusion Factor"), the parties shall enter into a written supplementary agreement, in form satisfactory to Owner, modifying this Lease as of the Commencement Date by increasing the Fixed Rent and the Electrical Inclusion Factor for the entire Demised Term by an annual amount equal to such excess. However, if it shall be so determined that the full value to Tenant of such service does not exceed the Electrical Inclusion Factor, no such agreement shall be executed and there shall be no increase or decrease in the Fixed Rent or the Electrical Inclusion Factor by reason of such determination. If either the quantity or character of electrical service is changed by the public utility corporation supplying electrical service to the Building or is no longer be required available or suitable for Tenant's requirements, no such change, unavailability or unsuitability shall constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to purchase same any abatement or diminution of rent, or relieve Tenant from Landlord any of its obligations under this Lease, or Landlordimpose any liability upon Owner, or its agents, by reason of inconvenience or annoyance to Tenant, or injury to or interruption of Tenant's agentbusiness, or otherwise.

Appears in 1 contract

Sources: Lease Agreement (Nelson Communications Inc)

Electricity. Section 4.01Landlord shall have the right, but not the obligation, to install a separate meter in or serving the Premises to measure electricity usage for lights and plugs in the Premises. The Fixed Rent reserved If electricity for lights and plugs serving the Premises is separately metered in the future for the New Premises, then the cost of all electricity for lights and plugs as measured by such separate meter will be the sole responsibility of the Tenant and the Tenant shall make payment of all such electricity costs directly to the utility company furnishing such electricity as and when the same is due and payable. Tenant acknowledges and agrees that the Premises are not presently separately metered for electricity but, rather, electricity usage for the entirety of the fourth floor and fifth floor of the Building (collectively the "Fourth and Fifth Floors") on which the Premises are located and of which the Premises form a part, are measured by a separate meter (the "Fourth and Fifth Floor Meter"). Accordingly, Tenant covenants and agrees to pay Landlord monthly within ten (10) days of being billed therefor, as additional rent, a sum equal to Tenant's Electrical Charge (as said term is hereinafter defined). As used herein, "Tenant's Electrical Charge" shall mean an amount equal to the product obtained by multiplying (a) the total electrical charges for the entire Fourth and Fifth Floors as measured by the Fourth and Fifth Floor Meter (the "Billed Amount") for the applicable period by (b) the Tenant's Electrical Percentage (as said term is hereinafter defined). As used herein, the term "Tenant's Electrical Percentage" shall mean a fraction (expressed as a percentage), the numerator of which shall be the rentable square footage of the Premises as set forth in this Lease includes and the agreed sum of $20,785.44 per annum in consideration denominator of which Landlordshall be the rentable square footage of the Fourth and Fifth Floors, as an additional servicenamely, will supply Tenant approximately 52,114 rentable square feet; provided, however, that if one hundred (100%) percent of the rentable square footage on the Fourth and Fifth Floors is not leased and occupied during any particular period for which Tenant's Electrical Charge is payable, then (a) the Billed Amount with electricity respect to the applicable period for normal use which the Tenant's Electrical Charge is being computed shall be deemed reduced by a dollar amount equal to the product obtained by multiplying (i) 8.33 cents ($0.0833) by (ii) the number of rentable square feet on the Fourth and Fifth Floors vacant during the applicable period and (b) the denominator used in calculating Tenant's Electrical Percentage (and Tenant's Electrical Charge) for such period shall be the Demised Premises between rentable square footage on the hours 8:00 A.M. Fourth and 6:00 P.M. on Business Days. Landlord Fifth Floors which is in fact leased and Tenant agree that occupied during the aforesaid sum was determined same applicable period, Initially, at the date of this Lease, based on an electrical surveythe foregoing, a copy Tenant's Electrical Percentage is 59.8% but is subject to adjustment as set forth above. Tenant's Electrical Percentage, subject to adjustment pursuant to Section 3.1, is 59.8%. If in Landlord's judgment, Tenant's use of which electricity is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated normal office usage or shall result in an additional burden on the Building's utility systems or additional cost on account thereof, as the case may be, Tenant shall upon demand reimburse Landlord for all additional costs related thereto. Landlord, at Tenant's expense, shall replace. and install all ballasts, lamps and bulbs (including, but not limited to, incandescent and fluorescent) used in the Electric SurveyPremises. All such replacements shall be of a type, color and size as shall be designated by Landlord. Landlord shall not in any way be liable or responsible to Tenant for any loss, damage or expense which Tenant may sustain or incur if the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e.quantity, the public utility rate schedule at the time in questioncharacter, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the or supply of electric energy to Landlord electricity is changed or is no longer available or suitable for Tenant's requirements. To the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, extent separately metered and such adjusted Fixed Rent shall be billed by Landlord to Tenant, Tenant shall also pay directly to the proper authorities charged with effect the collection thereof all charges for water, sewer, gas, electricity (except for electricity measured by the Fourth and Fifth Floor Meter), fire protection and other utilities (except for electricity measured by the Fourth and Fifth Floor Meter) used or consumed on the Premises by Tenant or any party claiming by, through or under Tenant, whether called charge, tax, assessment, fee or otherwise, all such charges to be paid as of the date of the increase of Landlord's electric ratesame from time to time become due. It is understood and agreed that Tenant shall make its own arrangements for obtaining service from such utilities and that Landlord shall not be liable in any way to Tenant for any interruption or failure or defect in the supply or character of electric energy furnished any such utilities to the Demised Premises Premises. If Tenant is not charged directly by reason of any requirement, act or omission of the public respective utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's optionof such utilities or services, Tenant shall purchase from time to time, within ten (10) days of Landlord's invoice therefor, pay to Landlord such charges and services from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentutility company.

Appears in 1 contract

Sources: Lease (Netezza Corp)

Electricity. Section 4.01(i) Landlord shall cause all invoices for electricity consumed at the Building and the Common Areas to be sent directly to Tenant by the public utility or other company providing electricity to the Building and the Common Areas (the “Electricity Provider”). Tenant shall pay directly to the Electricity Provider such invoiced amounts when due. If requested in writing by Landlord, Tenant shall make available to Landlord evidence of payment of such invoices. The Fixed Rent reserved Electricity Provider may not be changed during the Term by Landlord without the prior written consent of Tenant, which consent may be withheld in Tenant’s sole and absolute discretion. (ii) Landlord and Tenant estimate that the average monthly value of electricity consumed by the portion of the Building located outside of the Premises is Two Thousand Five Hundred Seventy-Eight Dollars ($2,578.00) per month (the “Estimated Electricity Allocation”). The Estimated Electricity Allocation shall remain fixed and shall not be subject to adjustment, except in accordance with subparts (iii) or (iv) below. Tenant shall invoice Landlord monthly for the Estimated Electricity Allocation, which invoice shall include a copy of the invoice from the Electricity Provider for such period. (iii) Notwithstanding anything in this Lease includes to the agreed sum contrary, the Estimated Electricity Allocation shall be subject to adjustment if the Net Electricity Rate (defined below) increases or decreases during the Term. As used herein, the “Net Electricity Rate” shall mean the overall amount invoiced by the Electricity Provider for electricity consumption at the Building and the Common Areas over the entire invoice period (including all taxes, fees and other surcharges on such invoice, but excluding any separate ▇▇▇▇-up imposed by Landlord or Tenant) divided by the kilowatt hours consumed at the Premises during such invoice period. The Estimated Electricity Allocation specified in subpart (ii) above is based on a Net Electricity Rate of $20,785.44 0.135 per annum in consideration kilowatt hour for the months of which Landlord, as an additional service, will supply Tenant with electricity November through April and $0.190 per kilowatt hour for normal use in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy months of which is annexed hereto as Schedule F and made a part hereof May through October (the "Electric Survey"“Initial Net Electricity Rate”). The amount of the Estimated Electricity shall be supplied 24 hours a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease Allocation shall be adjusted by applying proportionately to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as of the date of the increase of Landlord's electric rate. Landlord shall not be liable in any way to Tenant for any failure increases or defect decreases in the supply or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentapplicable Net Electricity Rate.

Appears in 1 contract

Sources: Lease (Ddi Corp)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes Landlord shall redistribute or furnish electricity to or for the agreed sum use of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use in the Demised Premises between for the hours 8:00 A.M. operation of Tenant's electrical systems and 6:00 P.M. on Business Daysequipment in the Premises, at a level sufficient to accommodate a demand load of six ▇▇▇▇▇ of electricity per useable square foot of office space in the Premises. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof An estimated charge for such electricity (the "Electric SurveyElectrical Inclusion Factor")) is included in Fixed Rent on a so-called "rent inclusion" basis; however, the value to Tenant of such service may not be fully reflected in Fixed Rent. Electricity shall be supplied 24 hours a dayAccordingly, seven days a week, however Tenant agrees that following the commencement of Tenant's ordinary business activities in the event Premises, Landlord may cause an independent electrical engineer or electrical consulting firm selected by Landlord ("Landlord's Consultant") to make a determination, certified in writing to Landlord and Tenant, of the full value of the electrical service supplied to Tenant, based upon a survey indicating the lighting load, office equipment and all other electrical usage by Tenant. Thereafter, Landlord may, at any time and from time to time, at its sole option, cause Landlord's Consultant to make subsequent determinations of the then full value of the electrical service supplied to Tenant uses electricity in excess of that contemplated on the basis set forth in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofimmediately preceding sentence. If Landlord's electric rates (i.e.Consultant determines that the full value of the electrical service supplied to Tenant exceeds the Electrical Inclusion Factor, the public utility rate schedule at the as increased from time to time in questionaccordance with this Section 16.1, including all surchargesthen, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord upon notice to Tenant, with effect Fixed Rent and the Electrical Inclusion Factor shall be increased to reflect the full value, on an annual basis, of such increased electrical usage by Tenant. Any increase in Fixed Rent and the Electrical Inclusion Factor shall be effective as of the date of the increase in Tenant's electrical usage, as determined by the survey, and Tenant's liability therefor shall be retroactive to such date. The computation of the Electrical Inclusion Factor under this Article 16 is intended to constitute a formula for an agreed rental adjustment and may or may not constitute an actual reimbursement to Landlord for the electrical service supplied to Tenant pursuant to this Lease. If any tax is imposed on Landlord's electric rate. Landlord shall not be liable in any way receipts or income from the redistribution, furnishing, or sale of electricity to Tenant as provided for any failure or defect in the supply or character of electric energy furnished above (other than a general tax on corporate income not specific to the Demised Premises by reason provision of electricity), whether based on the Electrical Inclusion Factor or any requirement, act increase therein provided for above or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's optionotherwise, Tenant shall purchase from reimburse Landlord for such tax, if and to the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentextent permitted by law.

Appears in 1 contract

Sources: Lease (Greenhill & Co Inc)

Electricity. 14.01 Landlord shall furnish all requisite electricity to the Demised Premises. If Landlord determines that the Tenant consumes an amount of electricity which exceeds by at least ten (10%) percent, on a regular basis, the charge to Tenant for electricity set forth in Section 4.01. The 1.04 above, then the charge for electricity (included in the Fixed Rent reserved in this Lease includes Rent) shall be increased to reflect the agreed sum of $20,785.44 per annum in consideration of which Landlordincreased power consumption, as determined from time to time by an additional service, will supply Tenant with electricity for normal use in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. independent reputable electrical engineering consultant selected by Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord reasonably satisfactory to Tenant, with effect and applying the then applicable public utility rates. The consultant's fee shall be shared equally by Landlord and Tenant. If such consultant determines that the actual cost of electricity as of then surveyed is less than ten (10%) percent, there shall be no increase in the date of the increase of Landlord's electric rate. electricity charge and Landlord shall not be liable solely responsible for the consultant's fee. Any such increase in any way the charge for electricity shall be deemed Additional Rent and shall be payable in monthly installments together with the installments of Fixed Rent. If Tenant determines that it consumes an amount of electricity which is ninety (90%) percent or less, on a regular basis, than the charge to Tenant for any failure or defect electricity set forth in Section 1.04 above, then the charge for electricity (included in the supply or character of electric energy furnished Fixed Rent) shall be decreased to reflect the Demised Premises decreased power consumption, as determined from time to time by reason of any requirementan independent reputable electrical engineering consultant selected by Landlord and reasonably satisfactory to Tenant, act or omission of and applying the then applicable public utility serving rates. The consultant's fee shall be shared equally by Landlord and Tenant. If such consultant determines that the Building with actual cost of electricity or for any other reason not attributable to the Landlord. At Landlord's optionas then surveyed is greater than ninety (90%) percent, Tenant there shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used be no decrease in the Demised Premises electricity charge and Tenant shall pay Landlordbe solely responsible for the consultant's reasonable charges therefor which fee. Any such decrease in the charge for electricity shall be commercially competitive, for providing reflected by a credit to Tenant against Fixed Rent and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentdeducted in monthly installments.

Appears in 1 contract

Sources: Sublease Agreement (Movado Group Inc)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes the agreed sum of $20,785.44 per annum in consideration of which (a) Landlord, as an additional serviceat Landlord’s expense, will supply subject to the provisions of this Article 9, shall furnish alternating current electrical energy to Tenant with electricity (i) for normal use in the Demised Existing Premises between at the hours 8:00 A.M. levels provided under the Existing Leases, and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however ii) for use in the event New Premises at a level of not less than 1200 amperes, 480 volts, 3-phase, 4-wire, dedicated to Tenant. Tenant uses electricity in excess shall pay Landlord a one-time fee for the installation of that contemplated such electrical capacity of $125.00 per ampere for each ampere provided to the New Premises above an amount equal to twelve (12) ▇▇▇▇▇ per Rentable Square Foot of space in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofNew Premises. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, Tenant covenants that Tenant’s use and other sums payable in respect thereof for the supply consumption of electric energy to Landlord for current in the Building) are increasedPremises shall not at any lime exceed the foregoing amount, nor exceed the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as capacity of any of the date of the increase of Landlord's electric rate. Landlord shall not be liable electrical facilities and installations in any way to Tenant for any failure or defect in the supply otherwise serving or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts being used in the Demised Premises and Premises. Tenant shall pay Landlord's reasonable charges therefor which , as Additional Rent, at any time and from time to time, but no more frequently than monthly, for its consumption of electrical energy at the Premises, as provided herein. (b) In the event that Tenant’s total power requirements at the New Premises, based on an annual review of Tenant’s consumption following the second (2nd) anniversary of the Commencement Date, shall be commercially competitiveless than the 1200 ampere, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive480 volt service described above, Tenant shall no longer pay to Landlord an annual sum equal to the fee, if any, which Landlord is obligated to pay to the Electricity Provider (as hereinafter defined), commonly known as a “use it or lose it” fee, for the availability of such capacity, presently payable by Landlord to the Electricity Provider at the rate of $12.50 per unused ampere per annum. Further, if as of the third (3rd) anniversary of the Commencement Date, Tenant shall continue to require less than the 1200 ampere, 480 volt service described above in the New Premises, then Landlord shall have the right to reduce the level of electric power supplied to the New Premises to Tenant’s actual power requirements. (c) The calculations and determinations of the charges for electric energy consumed by Tenant shall be required based on the readings of one or more submeters to be installed by Landlord at Tenant’s sole expense, applied to Landlord’s Electricity Cost, as defined in Section 9.2(d). Tenant shall pay for electricity consumed as determined thereunder as measured and calculated from time to time by such submeter or submeters, such payment to be equal to the amount Tenant would pay for such consumption of electricity if it purchased that amount of electricity from the public utility servicing the Building under the rate structure and/or classification as set forth in this Section 9.2(c) pursuant to which Landlord would purchase same that quantity of electricity for the entire Building, plus Landlord’s charge for overhead and supervision, which charge shall not exceed five percent (5%) of such payment by Tenant. In addition, Tenant shall pay to Landlord, as Additional Rent (i) the fees and expenses of Landlord’s electrical contractor for services rendered by such contractor in the maintenance and repair of such submeter(s), and (if) the amount of any taxes imposed by any Governmental Authority on Landlord’s receipts from Landlord or Landlord's agentthe sale of electricity to Tenant. In the event that more than one submeter is used to measure Tenant’s consumption of electricity in the Premises, Tenant shall be billed only on the basis of the “totalized” demand, i.e., as though a single meter were measuring such usage.

Appears in 1 contract

Sources: Lease Agreement (Switch & Data, Inc.)

Electricity. Section 4.01. The Fixed Rent reserved Landlord shall furnish to Tenant the electric energy which Tenant requires in the demised premises, in an amount up to six (6) ▇▇▇▇▇ per square foot, on a "rent inclusion" basis, through the presently installed electrical facilities for Tenant's reasonable use in the demised premises for lighting, light office equipment and the usual small business machines, including Xerox or other copying machines. Subject to the following provisions of this Article 4, there shall be no charge to Tenant therefor by way of measuring the same on any meter or otherwise, electric current being included as an additional service in the fixed annual rent payable hereunder. Landlord shall not in anywise be liable or responsible to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the quantity or character of electric service is changed or is no longer available or suitable for Tenant's requirements. (a) Tenant acknowledges and agrees (i) that the fixed annual rent hereinabove set forth in this Lease includes an Electricity Rent Inclusion Factor (as hereinafter defined), of THIRTY SEVEN THOUSAND ONE HUNDRED TWENTY FIVE AND 00/100 ($37,125.00) DOLLARS to compensate Landlord for the agreed sum of $20,785.44 per annum in consideration of which Landlordelectrical wiring and other installations necessary for, and for its obtaining and redistribution of, electric current as an additional service; and (ii) that said Electricity Rent Inclusion Factor (hereinafter called "ERIF"), will supply Tenant with electricity which shall be subject to periodic adjustments as herein provided, has been partially based upon Tenant's estimated connected electrical load and hours of use thereof for normal use ordinary lighting and light office equipment, during ordinary business hours. The "Electricity Rent Inclusion Factor" shall mean the amount determined by applying the estimated connected electrical load and usage thereof in the Demised Premises between demised premises (as determined by the hours 8:00 A.M. electrical consultant as hereinafter provided) to the rate charged for such load and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however usage in the event Tenant uses electricity service classification in excess of that contemplated in effect on January 1, 1998, pursuant to which Landlord then purchased electric current for the Electric Survey, entire Building from the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofpublic utility corporation. If the cost to Landlord of electricity shall have been, or shall be, increased subsequent to January 1, 1998 (whether such increase occurs prior to or during the term of this Lease), by change in Landlord's electric rates (i.e.rates, the public utility rate schedule at the time in question, including all surcharges, taxescharges, fuel adjustmentsadjustment, or service classifications, or by taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as of the date of the increase of Landlord's electric rate. Landlord shall not be liable in any way to Tenant for any failure or defect in the supply or character of electric energy furnished to the Demised Premises by reason charges of any requirementkind imposed thereon, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to such reason, then the Landlord. At Landlord's option, Tenant aforesaid ERIF portion of the fixed annual rent shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used be increased in the Demised Premises same percentage and Tenant shall pay Landlord's reasonable charges therefor which the fixed annual rent provided herein shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentincreased accordingly.

Appears in 1 contract

Sources: Lease Agreement (24/7 Media Inc)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes Landlord shall have the agreed sum of $20,785.44 per annum in consideration of which Landlordright, as an additional service, will exercisable at its sole option to furnish and supply to Tenant with electricity for normal Tenant's reasonable use in for lighting, heating, air-conditioning and/or ventilating the Demised Premises between and operating therein such other electrical appliances and equipment as may be reasonably necessary for the hours 8:00 A.M. and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy operation of which is annexed hereto Tenant's business (hereinafter referred to as Schedule F and made a part hereof (the "Electric SurveyTenant's energy use"). Electricity The following terms and conditions shall be supplied 24 hours a day, seven days a week, however in govern the event Tenant uses distribution of electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant for Tenant, with effect as 's energy use. (i) Tenant shall pay Landlord an "annual energy charge" for such electrical service. The annual energy charge shall be determined and paid in the following manner: (1) Landlord shall select from time to time a consultant ("Consultant") to provide annual estimates of Tenant's energy use. Tenant shall make the Premises available to Consultant from time to time during normal business hours to permit Consultant to make an energy survey of the date of the increase of Landlord's electric ratePremises. Landlord shall not be liable in any way to Tenant for any failure or defect in the supply or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's optionIn addition, Tenant shall purchase from supply Landlord, within fifteen (15) days after receipt of written request therefor, with all information which may be reasonably necessary for Consultant to estimate Tenant's energy use, including without limitation: (a) plans and specifications for the electrical systems within the Premises (including "as built" drawings); (b) specifications for all electrical equipment and appliances to be operated within the demised premises; and (c) reasonable estimates of the hours such equipment shall be used. Consultant, in preparing the energy estimate, shall consider the information submitted by Tenant, the days and hours of operation of Tenant's business and any other factors which Consultant may deem relevant. Consultant shall provide copies of the energy estimate to both Landlord and Tenant. Consultant's energy estimate shall be binding upon both Landlord and Tenant. (2) Based upon the energy estimate described in subsection (b)(i) above, Consultant shall determine Tenant's "annual energy charge" for the electricity to be furnished by Landlord. It is the intent of the Landlord that the amount of the annual energy charge shall neither exceed nor be less than the total charges (including fuel adjustments and all applicable taxes) which Tenant would be obligated to pay the electrical utility company then providing service to the Business Center for such electrical service if the electrical service was provided by such utility company. (3) Tenant shall pay the annual energy charge in twelve (12) equal installments, each of which shall be paid in advance on or before the first (1st) day of each month. (4) Not later than sixty (60) days after the end of such calendar year, Landlord or Landlord's agent all lighting tubesConsultant shall compute the adjustments if any, lamps, bulbs and ballasts used for Tenant's energy use during the preceding calendar year. Such adjustment shall be based upon factors which have caused Tenant's energy use or the costs therefor to vary from the energy estimates including without limitation: any revision of rates charged by the local utility company during such year; any revision due to a tax increase by state or local governments; any change in energy use by Tenant; any permitted change in the Demised use of the Premises and Tenant shall pay Landlordwhich affects Tenant's reasonable charges therefor which energy use; any adjustments required as a result of Tenant's actual operating experience or seasonal requirements. The amount of such adjustment shall be commercially competitive, for providing and installing same on demandadded to or subtracted from, as additional rent; if Landlordthe case may be, Tenant's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlordnext succeeding monthly payment of Tenant's agentenergy charge.

Appears in 1 contract

Sources: Deed of Lease (Ciao Cucina Corp)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes (a) Sublandlord shall make electricity available to the agreed sum Premises at a level sufficient to accommodate a demand load of $20,785.44 six (6) w▇▇▇▇ per annum in consideration rentable square foot, exclusive of which Landlord, as an additional service, will supply Tenant with electricity for normal use in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utilityBuilding HVAC System, and other sums payable in respect thereof for Subtenant covenants that Subtenant’s use and consumption of electricity shall not at any time exceed such amount, nor exceed the supply capacity of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as any of the date of the increase of Landlord's electric rate. Landlord shall not be liable electrical facilities and installations in any way to Tenant for any failure or defect in the supply otherwise serving or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts being used in the Demised Premises Premises. Subtenant shall, upon notice from Sublandlord, promptly cease the use of any of Subtenant’s electrical equipment which Sublandlord’s electrical engineer reasonably determines, causes Subtenant to exceed such capacity. Electrical consumption for the Premises, the Building HVAC System serving the floor, and Tenant the common areas of the floor shall be determined by meter(s) installed by Sublandlord at Sublandlord’s expense and Subtenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demandto Sublandlord, as additional rent, as follows: (i) the actual cost of metered electricity supplied to the Premises; if Landlord's (ii) Subtenant’s pro rata share of the actual cost of metered electricity supplied to the Building HVAC System serving the floor upon which the Premises is located (based upon the ratio of the rentable square footage of the Premises to the rentable square footage of the entire floor upon which the Premises is located); (iii) Subtenant’s pro rata share of the actual cost of metered electricity supplied to the common areas of the floor upon which the Premises is located (based upon the ratio of the rentable square footage of the Premises to the rentable square footage of the entire floor upon which the Premises is located); and (iv) three percent (3%) of the total of the charges set forth in (i) – (iii) above (the “Electricity Charge”). The cost of electricity provided to Premises, the Building HVAC System serving the floor, and the common areas of the floor means an amount equal to the Actual Rate (as hereinafter defined) multiplied by the number of kilowatt-hours of electricity used for the foregoing purposes during the period for which such payment is being made. Subtenant’s payments shall cease be made within thirty (30) days after receipt of a statement setting forth the number of kilowatt-hours used the foregoing purposes during such period, the Actual Rate, and the computation of Subtenant’s payment. For purposes hereof, the term “Actual Rate” shall mean the actual cost to Sublandlord of supplying one (1) kilowatt-hour of electricity to the Building, and such rate shall be commercially competitive, Tenant determined by dividing (A) the total amount of the electric bill for the Building for the period(s) covered by Subtenant’s payment by (B) the number of kilowatt-hours of electricity supplied to the Building during such period. Subtenant shall no longer be required also pay to purchase same from Landlord or Landlord's agentSublandlord Subtenant’s share (based upon the ratio of the rentable square footage of the Premises to the rentable square footage of the entire floor) of the cost to maintain and repair the meter(s) serving the floor.

Appears in 1 contract

Sources: Sublease (SELLAS Life Sciences Group, Inc.)

Electricity. Section 4.01(a) Landlord shall redistribute or furnish electricity to or for the use of Tenant in the Premises for the operation of Tenant’s electrical systems and equipment in the Premises, at a level sufficient to accommodate a demand load of six w▇▇▇▇ per usable square foot of office space in the Premises. The An estimated charge for such electricity (the “Electrical Inclusion Factor”) is included in Fixed Rent reserved on a so-called “rent inclusion” basis; however, the value to Tenant of such service may not be fully reflected in this Lease includes Fixed Rent. Accordingly, Tenant agrees that following the agreed sum commencement of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use Tenant’s ordinary business activities in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Premises, Landlord may cause an independent electrical engineer or electrical consulting firm selected by Landlord (“Landlord’s Consultant”) to make a determination, certified in writing to Landlord and Tenant, of the full value of the electrical service supplied to Tenant, based upon a survey indicating the lighting load, office equipment and all other electrical usage by Tenant. Thereafter, Landlord may, at any time and from time to time, at its sole option, cause Landlord’s Consultant to make subsequent determinations of the then full value of the electrical service supplied to Tenant agree that on the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however basis set forth in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofimmediately preceding sentence. If Landlord's electric rates (i.e.’s Consultant determines that the full value of the electrical service supplied to Tenant exceeds the Electrical Inclusion Factor, the public utility rate schedule at the as increased from time to time in questionaccordance with this Section 10.1, including all surchargesthen, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord upon notice to Tenant, with effect Fixed Rent and the Electrical Inclusion Factor shall be increased to reflect the full value, on an annual basis, of such increased electrical usage by Tenant. Any increase in Fixed Rent and the Electrical Inclusion Factor shall be effective as of the date of the increase in Tenant’s electrical usage, as determined by the survey, and Tenant’s liability therefor shall be retroactive to such date. The computation of Landlord's electric rate. the Electrical Inclusion Factor under this Article 10 is intended to constitute a formula for an agreed rental adjustment and may or may not constitute an actual reimbursement to Landlord shall not be liable in any way for the electrical service supplied to Tenant pursuant to this Lease. If any tax is imposed on Landlord’s receipts or income from the redistribution, furnishing, or sale of electricity to Tenant as provided for any failure or defect in the supply or character of electric energy furnished above (other than a general tax on corporate income not specific to the Demised Premises by reason provision of electricity), whether based on the Electrical Inclusion Factor or any requirementincrease therein provided for above, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's optionotherwise, Tenant shall purchase from reimburse Landlord for such tax, if and to the Landlord or Landlord's agent all lighting tubesextent permitted by law. Notwithstanding any provision of this Lease to the contrary, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor to Landlord the Electrical Inclusion Factor (which is included in Fixed Rent) from and after the Commencement Date even if Fixed Rent (other than the Electrical Inclusion Factor) is not otherwise payable hereunder until the Rent Commencement Date, which payment shall be commercially competitivemade at the same time and in the same manner as Fixed Rent (whether or not then payable). All electricity used during the performance of cleaning services, or the making of any Alterations or Restorative Work in the Premises, or the operation of any supplemental or special air-conditioning systems serving the Premises, shall be paid for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentby Tenant.

Appears in 1 contract

Sources: Lease Agreement (Omrix Biopharmaceuticals, Inc.)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes the agreed sum of $20,785.44 per annum in consideration of which (a) Landlord, as an additional serviceat Landlord’s expense, will supply subject to the provisions of this Article 9, shall furnish alternating current electrical energy to Tenant with electricity (i) for normal use in the Demised Existing Premises between at the hours 8:00 A.M. levels provided under the Existing Leases, and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however ii) for use in the event New Premises at a level of not less than 1200 amperes, 480 volts, 3-phase, 4-wire, dedicated to Tenant. Tenant uses electricity in excess shall pay Landlord a one-time fee for the installation of that contemplated such electrical capacity of $125.00 per ampere for each ampere provided to the New Premises above an amount equal to twelve (12) ▇▇▇▇▇ per Rentable Square Foot of space in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofNew Premises. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, Tenant covenants that Tenant’s use and other sums payable in respect thereof for the supply consumption of electric energy to Landlord for current in the Building) are increasedPremises shall not at any lime exceed the foregoing amount, nor exceed the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord to Tenant, with effect as capacity of any of the date of the increase of Landlord's electric rate. Landlord shall not be liable electrical facilities and installations in any way to Tenant for any failure or defect in the supply otherwise serving or character of electric energy furnished to the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts being used in the Demised Premises and Premises. Tenant shall pay Landlord's reasonable charges therefor which , as Additional Rent, at any time and from time to time, but no more frequently than monthly, for its consumption of electrical energy at the Premises, as provided herein. (b) In the event that Tenant’s total power requirements at the New Premises, based on an annual review of Tenant’s consumption following the second (2nd) anniversary of the Commencement Date, shall be commercially competitiveless than the 1200 ampere, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive480 volt service described above, Tenant shall no longer pay to Landlord an annual sum equal to the fee, if any, which Landlord is obligated to pay to the Electricity Provider (as hereinafter defined), commonly known as a “use it or lose it” fee, for the availability of such capacity, presently payable by Landlord to the Electricity Provider at the rate of $[*] per unused ampere per annum. Further, if as of the third (3rd) anniversary of the Commencement Date, Tenant shall continue to require less than the 1200 ampere, 480 volt service described above in the New Premises, then Landlord shall have the right to reduce the level of electric power supplied to the New Premises to Tenant’s actual power requirements. (c) The calculations and determinations of the charges for electric energy consumed by Tenant shall be required based on the readings of one or more submeters to be installed by Landlord at Tenant’s sole expense, applied to Landlord’s Electricity Cost, as defined in Section 9.2(d). Tenant shall pay for electricity consumed as determined thereunder as measured and calculated from time to time by such submeter or submeters, such payment to be equal to the amount Tenant would pay for such consumption of electricity if it purchased that amount of electricity from the public utility servicing the Building under the rate structure and/or classification as set forth in this Section 9.2(c) pursuant to which Landlord would purchase same that quantity of electricity for the entire Building, plus Landlord’s charge for overhead and supervision, which charge shall not exceed five percent (5%) of such payment by Tenant. In addition, Tenant shall pay to Landlord, as Additional Rent (i) the fees and expenses of Landlord’s electrical contractor for services rendered by such contractor in the maintenance and repair of such submeter(s), and (if) the amount of any taxes imposed by any Governmental Authority on Landlord’s receipts from Landlord or Landlord's agentthe sale of electricity to Tenant. In the event that more than one submeter is used to measure Tenant’s consumption of electricity in the Premises, Tenant shall be billed only on the basis of the “totalized” demand, i.e., as though a single meter were measuring such usage. * CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

Appears in 1 contract

Sources: Lease Agreement (Switch & Data, Inc.)

Electricity. Section 4.01. The Fixed Rent reserved (a) During the Term Tenant shall pay to Landlord as Additional Rental electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in this Lease includes the agreed Premises the sum of $20,785.44 14,546.00 per annum payable in consideration equal monthly installments of $1,212.17. The Electric Inclusion Amount is based upon Landlord’s assumption that Tenant’s initial electrical installation will not result in a total connected electrical load for lighting, and equipment will not be in excess of six w▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only during normal weekday operating hours of the Building. Accordingly, if Tenant’s initial electrical installation exceeds such criteria, or if from time to time Tenant makes material use of electricity during hours other than normal weekday operating hours of the Building, or if from time to time Tenant after completion of its initial installation adds or changes any machinery, appliances or equipment which Landlord, as an additional service, will supply Tenant with electricity for normal use increases the aggregate electrical load in the Demised Premises between Premises, the hours 8:00 A.M. Electric Inclusion Amount and 6:00 P.M. on Business Daysthe Additional Rent shall from time to time be equitably adjusted to reflect the resulting increase in such use. In addition, Landlord shall have the right to conduct a periodic survey of Tenant’s actual electrical usage and increase the Electric Inclusion Amount if the survey indicates the Tenant’s usage of electricity exceeds the cost of $1.75 per rentable square feet of the Premises. Landlord shall furnish a statement of Landlord’s determination as to the amount of the adjustment, and the same shall become binding upon the parties unless, within thirty (30) days, Tenant notifies Landlord that it disputes the amount of such adjustment, in which event the parties shall in good faith make reasonable attempts to come to agreement, and, if Landlord and Tenant cannot agree that thereon, the aforesaid sum was determined amount of such adjustment shall be determined, based on standard practices, by an independent electrical survey, a copy consultant selected by Landlord. Tenant shall permit said consultant to have access to the Premises and Tenant’s electrical facilities for the foregoing purpose at all reasonable times. The fee of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity such consultant shall be supplied 24 hours a daypaid by Tenant unless such consultant finds that Tenant’s use does not justify an increase in Additional Rent, seven days a week, however in which case the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease fee shall be adjusted paid by applying Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to the sum specified abovereflect such adjustment, the same percentage as such rate increase, and such adjusted Fixed Rent which shall be billed by Landlord to Tenant, with effect as of effective from the date of the increase of such usage as determined by such electrical consultant and shall be made retroactively if necessary. Any adjustment shall be effective even if such supplementary agreement (in form reasonably approved by Tenant) is not executed and delivered. Pending the determination of the adjustment, Tenant shall pay to Landlord the amount of such adjustment as specified in Landlord's ’s statement. Thereafter, if it is determined that Tenant has overpaid, Tenant shall receive a credit against Additional Rent in the amount of the overpayment, said credit to be applied against the next accruing installment(s) of Additional Rent. (b) Landlord reserves the right to discontinue furnishing electric rateenergy to the Premises at any time upon not less than ninety (90) days notice to Tenant in which event Tenant shall arrange to obtain electric service directly from the utility providing electric service to the Building. If Landlord exercises such right of termination, this Lease shall continue in full force and effect and shall be unaffected thereby, except only that, from and after the effective date of such discontinuance, Landlord shall not be liable obligated to furnish electric energy to Tenant, and the Additional Rent payable under this Lease shall be reduced by the Electric Inclusion Amount then in effect. If Landlord voluntarily discontinues furnishing electric energy to Tenant, Landlord shall, prior to the effective date of such discontinuance, at Landlord’s expense, make such changes in panel boards, feeders, risers, wiring and other conductors and equipment to the extent required to permit Tenant to obtain electric energy directly from the public utility company. If, on the other hand, Landlord is required by any legal requirements to discontinue furnishing electric energy to Tenant, Landlord shall make such changes in panel boards, feeders, risers, wiring and other conductors and equipment in order to permit Tenant to obtain electric energy directly from the public utility company. (c) If any tax is imposed upon Landlord with respect to electrical energy furnished as a service to Tenant by any government authority, Tenant agrees that, where permitted by law or applicable regulations, Tenant’s pro rata share of such taxes shall be reimbursed by Tenant to Landlord upon demand. (d) Landlord shall not in any way be liable or responsible to Tenant for any failure loss or defect in damage or expense which Tenant may sustain or incur if either the supply quantity or character of electric energy furnished to service is changed or is no longer available or suitable for Tenant’s requirements. Tenant’s use of electric current in the Demised Premises by reason shall not at any time exceed the capacity of any requirement, act or omission of the public utility electrical conductors and facilities in or otherwise serving the Building with electricity or for Premises. In order to insure that such capacity is not exceeded and to avert any other reason not attributable to possible adverse effect upon the Landlord. At Landlord's optionbuilding’s electric service, Tenant shall purchase from the Landlord not, without Landlord’s prior written consent in each instance, connect any fixtures, appliances or Landlord's agent all lighting tubes, equipment (other than a reasonable number of table or floor lamps, bulbs typewriters, word processors, small computers, photocopy machines and ballasts used similar small office machines using comparable electric current) to the Building’s electric distribution system nor make any alteration or addition to the electric system of the Premises. Should Landlord grant such consent, all additional risers or other equipment required therefor shall be provided by Landlord upon notice to Tenant, and all costs and expenses in connection therewith, including, without limitation, those for filing and supervision, shall be paid by Tenant. As a condition to granting such consent, Landlord may require Tenant to agree to an increase in the Demised Premises Additional Rent by an amount which will reflect the value to Tenant of the additional service to be furnished by Landlord, to wit: the potential additional electrical current to be made available to Tenant based upon the estimated initial total capacity of such additional risers or other equipment. If Landlord and Tenant shall pay Landlord's reasonable charges therefor which cannot agree on the amount of such Additional Rent increase, the same shall be commercially competitivedetermined by a reputable electrical consultant, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitiveselected by Landlord and paid by Tenant. The parties shall then execute an agreement prepared by Landlord amending this Lease and setting forth the new Additional Rent resulting from such increase and confirming the effective date thereof, Tenant but such increase shall no longer be required to purchase same effective from Landlord or Landlord's agentsuch date even if such agreement is not executed.

Appears in 1 contract

Sources: Lease (Replidyne Inc)

Electricity. Section 4.01(a) Landlord shall redistribute or furnish electricity to or for the use of Tenant in the Premises for the operation of Tenant’s electrical systems and equipment in the Premises, at a level sufficient to accommodate a demand load of six ▇▇▇▇▇ per usable square foot of office space in the Premises (excluding electricity required to operate any Building System). The An estimated charge for such electricity (the “Electrical Inclusion Factor”) is included in Fixed Rent reserved on a so-called “rent inclusion” basis; however, the value to Tenant of such service may not be fully reflected in this Lease includes Fixed Rent. Accordingly, Tenant agrees that following the agreed sum commencement of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use Tenant’s ordinary business activities in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Premises, Landlord may cause an independent electrical engineer or electrical consulting firm selected by Landlord (“Landlord’s Consultant”) to make a determination, certified in writing to Landlord and Tenant, of the full value of the electrical service supplied to Tenant, based upon a survey indicating the lighting load, office equipment and all other electrical usage by Tenant. Thereafter, Landlord may, at any time and from time to time, at its sole option, cause Landlord’s Consultant to make subsequent determinations of the then full value of the electrical service supplied to Tenant agree that on the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however basis set forth in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofimmediately preceding sentence. If Landlord's electric rates (i.e.’s Consultant determines that the full value of the electrical service supplied to Tenant exceeds the Electrical Inclusion Factor, the public utility rate schedule at the as increased from time to time in questionaccordance with this Section 10.1, including all surchargesthen, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord upon notice to Tenant, with effect Fixed Rent and the Electrical Inclusion Factor shall be increased to reflect the full value, on an annual basis, of such increased electrical usage by Tenant. Any increase in Fixed Rent and the Electrical Inclusion Factor shall be effective as of the date of the increase in Tenant’s electrical usage, as determined by the survey, and Tenant’s liability therefor shall be retroactive to such date. The computation of Landlord's electric rate. the Electrical Inclusion Factor under this Article 10 is intended to constitute a formula for an agreed rental adjustment and may or may not constitute an actual reimbursement to Landlord shall not be liable in any way for the electrical service supplied to Tenant pursuant to this Lease. If any tax is imposed on Landlord’s receipts or income from the redistribution, furnishing, or sale of electricity to Tenant as provided for any failure or defect in the supply or character of electric energy furnished above (other than a general tax on corporate income not specific to the Demised Premises by reason provision of electricity), whether based on the Electrical Inclusion Factor or any requirementincrease therein provided for above, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's optionotherwise, Tenant shall purchase from reimburse Landlord for such tax, if and to the Landlord or Landlord's agent all lighting tubesextent permitted by law. Notwithstanding any provision of this Lease to the contrary, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor to Landlord the Electrical Inclusion Factor (which is included in Fixed Rent) from and after the Commencement Date even if Fixed Rent (other than the Electrical Inclusion Factor) is not otherwise payable hereunder until the Rent Commencement Date, which payment shall be commercially competitivemade at the same time and in the same manner as Fixed Rent (whether or not then payable). All electricity used during the performance of cleaning services, or the making of any Alterations or Restorative Work in the Premises, or the operation of any supplemental or special air-conditioning systems serving the Premises, shall be paid for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentby Tenant.

Appears in 1 contract

Sources: Lease Agreement (Xstelos Holdings, Inc.)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes 4.01 Tenant shall pay as its electricity charge hereunder the agreed sum of $20,785.44 16,269.50 per annum (the “Base Charge”) which shall be payable in consideration equal monthly installments of which $1,355.79 together with the Tenant’s payments of fixed annual rent hereunder on the first day of each calendar month. In the event Landlord’s consultant shall determine that Tenant’s electricity charge should exceed the Base Charge, Tenant’s Base Charge shall be adjusted retroactively at such time as an additional service, will supply Tenant with electricity for normal Landlord’s electrical consultant’s determination is made. 4.02 Tenant’s use of electric current in the Demised Premises between shall not at any time exceed the hours 8:00 A.M. capacity of any of the electrical conductors and 6:00 P.M. on Business Days. Landlord and Tenant agree equipment in or otherwise serving the Demised Premises. 4.03 Intentionally deleted prior to execution. 4.04 In the event Landlord’s consultant shall determine that Tenant’s electricity charge should exceed the aforesaid sum was determined based on an electrical surveyBase Charge, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity Tenant’s Base Charge shall be supplied 24 hours a day, seven adjusted by providing Tenant at least 30 days a week, however prior written notice of such adjustment and the reasoning for such adjustment. Tenant shall permit Landlord’s electrical consultant to make surveys in the event Tenant uses electricity in excess of that contemplated in Demised Premises from time to time during normal business hours regarding the Electric Survey, electrical equipment and fixtures and the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereof. If Landlord's electric rates (i.e., the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply use of electric energy current therein. 4.05 Any determination made by Landlord’s electrical consultant pursuant to Landlord for the Building) are increased, the Fixed Rent reserved or in connection with this Lease shall be adjusted binding and conclusive on Landlord and on Tenant unless Tenant disputes such determination as hereinafter provided. Tenant shall have the right to give a notice (the “Dispute Notice”) to Landlord, within fifteen (15) days after the date it is notified of any determination by applying Landlord’s electrical consultant, that (i) Tenant has engaged its own electrical consultant (“Tenant’s electrical consultant”) to verify the determination of Landlord’s electrical consultant. If Tenant’s electrical consultant and Landlord’s electrical consultant cannot agree within five (5) days after the Dispute Notice, if any, is given on what an appropriate resolution of their dispute should be, then either party, upon notice to the sum specified aboveother, may submit the issue to arbitration in accordance with the provisions of Article 34 of this Lease, the same percentage as reasonable cost of any such rate increase, arbitration (but not the fees and expenses of Landlord’s attorneys) to be borne solely by Tenant in the event such adjusted Fixed Rent shall be billed by Landlord dispute relates to Tenant, a determination with effect as respect to electricity provided to a portion of the date of the increase of Landlord's electric rate. Landlord shall not be liable in any way to Tenant for any failure or defect in the supply or character of electric energy furnished to Building other than the Demised Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the LandlordPremises. At Landlord's optionWhile such dispute is being resolved, Tenant shall purchase pay such charges and payments as would be due hereunder if Landlord’s electrical consultant’s determination were correct without prejudice to Tenant’s position. In the event it is finally determined that there has been an overpayment by Tenant, such overpayment shall be credited against future rent payments due from Tenant under the Landlord or Landlord's agent all lighting tubes, lamps, bulbs Lease and ballasts used in the Demised Premises and event of an underpayment, the amount of such underpayment by Tenant shall be paid by Tenant to Landlord within ten (10) days after such determination is made. If the full amount of any overpayment cannot be credited against future rents for any reason, to the extent such overpayment is not credited, landlord will pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentdirectly.

Appears in 1 contract

Sources: Lease Agreement (Dipexium Pharmaceuticals, Inc.)

Electricity. Section 4.01. The Fixed Rent reserved in this Lease includes the agreed sum of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Landlord and Tenant agree that the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). a) Electricity shall be supplied 24 hours provided to full floors of the Premises by way of a day, seven days a week, however in the event Tenant uses electricity in excess of that contemplated in the Electric Surveydirect meter, the Fixed Rent reserved herein may cost of installing which shall be increased as provided in Section 4.03 borne by Landlord. For purposes hereof. If Landlord's electric rates , the portions of the Initial Premises located on the fourth (i.e.4th) and fifth (5th) floors of the Building, respectively, are deemed to be full floors. (b) Tenant shall obtain electrical energy for full floors of the Premises directly from the public utility rate schedule at furnishing electric service to the time in questionBuilding and/or one or more other electricity providers reasonably selected by Landlord (the “Electricity Provider”). Tenant shall make its own arrangements with the Electricity Provider for the furnishing of electricity to full floors of the Premises, and the costs of such service, including any deposits or fees, shall be paid by Tenant directly to the Electricity Provider. Such electricity may be furnished to Tenant by means of the then existing electrical facilities serving the Premises at no cost to Tenant, to the extent that the same are suitable and safe for such purposes. (c) Landlord shall make electricity available to the Premises at a level sufficient to accommodate a demand load of six (6) ▇▇▇▇▇ per ▇▇▇▇▇ square foot per full floor of the Premises, exclusive of base Building HVAC, as more particularly set forth (and except as otherwise expressly provided) in the Work Letter. Tenant covenants that Tenant’s use and consumption of electricity shall not at any time exceed an amount equal to a demand load of six (6) ▇▇▇▇▇ per gross square foot for any floor of the Premises. Notwithstanding the foregoing, Tenant may elect to install one supplemental tap on any floor of the Premises in order to enable Tenant to draw a demand load of up to eight (8) ▇▇▇▇▇ per ▇▇▇▇▇ square foot on such floor, provided that (i) the average electrical load across all surchargesfloors of the Premises shall at no time exceed six (6) ▇▇▇▇▇ per gross square foot, taxes(ii) Tenant installs such tap on or prior to the Rent Commencement Date and as part of Tenant’s Initial Alterations, fuel adjustments(iii) such tap shall be deemed to be a Non-Standard Alteration which Landlord (in Landlord’s sole discretion) may require Tenant to remove in accordance with Section 4.4(a) hereof on or prior to the date which is the earlier to occur of (x) the Expiration Date and (y) the date on which Tenant shall no longer be in Actual Occupancy of the floor of the Premises on which such tap is installed and (iv) if Tenant shall desire to sublease the floor on which such tap is installed, taxes regularly passed Tenant shall indicate in the applicable Offer Notice that such tap has been installed on such floor. Tenant shall, upon notice from Landlord that Landlord’s electrical engineer has determined, in its reasonable judgment, that Tenant shall be in violation of the provisions of this Section 10.2(c), promptly adjust the use of Tenant’s electrical equipment so as to consumers by cause such average electrical load not to exceed six (6) ▇▇▇▇▇ per ▇▇▇▇▇ square foot. For purposes hereof “gross” square feet shall be consistent with the public utility, and other sums payable in respect thereof REBNY standard method of measurement for the supply of electric energy to Landlord for the Building) are increasedgross square footage, the Fixed Rent reserved in this Lease shall be adjusted by applying estimates for which are indicated on Exhibit A-2 attached hereto. In addition to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall electricity to be billed provided by Landlord to Tenant pursuant to this Section 10.2(c) and subject to the conditions set forth in this Section 10.2(c), Tenant, with effect as at Tenant’s expense, shall have the right to install additional electric risers from the Building’s main distribution switchboards to the Premises through the electric riser locations. Tenant’s right to install additional electric risers shall be subject to Landlord’s reasonable approval, it being agreed that Landlord’s reasonable reservation of shaft space and pathways for future needs shall be reasonable grounds for disapproval. (d) Notwithstanding anything to the date of contrary contained herein, except to the increase of extent due to Landlord's electric rate. ’s gross negligence or willful misconduct, Landlord shall not be liable in any way be liable or responsible to Tenant for any failure loss, damage or defect expense which Tenant may sustain or incur as a result of the unavailability of or interruption in the supply of electricity to the Premises or a change in the quantity or character or nature of electric energy furnished such current and, except as otherwise set forth in Section 6.4 of this Lease, such change, interruption or unavailability shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to the Demised Premises any abatement or diminution of rent, or relieve Tenant from any of its obligations under this Lease, or impose any liability upon Landlord or any Landlord Party, by reason of any requirementinconvenience or annoyance to Tenant, act or omission injury to or interruption of the public utility serving the Building with electricity Tenant’s business, or for any other reason not attributable to the Landlord. At Landlord's optionotherwise. (e) Landlord shall furnish, Tenant shall purchase from the Landlord or Landlord's agent install and replace, as required, all lighting tubes, lamps, bulbs and ballasts used required in the Demised Premises, at Tenant’s sole cost and expense, provided that Landlord’s charges therefor shall be in accordance with Landlord’s reasonable rates in effect from time to time, and not materially in excess of the rates for similar materials and services provided by landlords in other First Class Midtown Office Buildings. Tenant shall have the right to furnish and replace its own light bulbs; provided, however, that with respect to all high voltage light fixtures in the Premises, Tenant shall furnish such light bulbs for Landlord to install and replace as provided in this Section 10.2(e). All lighting tubes, lamps, bulbs and ballasts so installed shall become Landlord’s property upon the expiration or sooner termination of this Lease. (f) Subject to the provisions of this Lease (including, without limitation, Article 4 hereof), Tenant shall have the right from time to time during the Term, at Tenant’s sole cost and expense, to connect the Premises to the Building’s standby generator and, in connection therewith, (i) Tenant may request that Landlord make available to Tenant an amount equal to up to one hundred twenty-five (125) kilowatts of emergency power from the Building’s standby generator (in which event Landlord shall be obligated to make such emergency power available to the Initial Premises to the extent such emergency power is then available and subject to Landlord’s right to reasonably reserve such emergency power for the future needs of other tenants in the Building), (ii) Tenant shall install a transfer switch and all necessary cabling and distribution equipment and (iii) Landlord (or, at Landlord’s option, Tenant), at Tenant’s sole cost and expense, shall install a disconnect switch and all necessary metering devices to measure Tenant’s consumption of energy power. Tenant agrees that the transfer switch that Tenant shall install shall be a Landlord specified ASCO transfer switch. Tenant shall maintain in good condition any such connection that Tenant (or Landlord, on Tenant’s behalf) makes to the Building’s standby generator. Tenant agrees that Tenant’s connection to, or use of, the Building’s standby generator shall not interfere with Landlord’s ability to derive emergency power therefrom. In addition, at all times, Tenant shall fully cooperate with Landlord and shall abide by such reasonable regulations and requirements which Landlord may prescribe for the proper functioning and protection of the Building’s standby generator. Any damages resulting from the use by Tenant of the Building’s standby generator shall be borne by Tenant. In consideration of the provision of emergency power to Tenant, commencing on the date of connection Tenant shall pay Landlord's reasonable charges therefor to Landlord as Additional Rent (i) one thousand dollars ($1,000) per kilowatt per year (which amount shall be commercially competitiveprorated with respect to any partial years) not later than thirty (30) days following Tenant’s receipt of Landlord’s invoice and demand therefor and (ii) $1.50 per kilowatt per hour, for providing and installing same based on demand, as additional rent; if Landlord's charges shall cease actual kilowatt hours of emergency electrical power used. Notwithstanding anything to be commercially competitivethe contrary contained herein, Tenant acknowledges that Landlord shall have no longer be required liability to purchase same Tenant if the Building’s standby generator fails to provide emergency generator power to Tenant or if the Building’s standby generator damages Tenant’s systems or property (except in either case (but subject to the terms of Section 35.13 hereof) to the extent resulting from Landlord’s gross negligence or willful misconduct); provided, that if the Premises is not connected to the Building’s standby generator, Landlord shall hold Tenant harmless from any direct damage and reasonable expenses incurred by Tenant as a result of the operation of such standby generator to the extent resulting from Landlord’s gross negligence or Landlord's agentwillful misconduct in accordance with and subject to the provisions of Article 29 hereof.

Appears in 1 contract

Sources: Lease Agreement (Taylor Ann Stores Corp)

Electricity. (a) Subject to the provisions of this Section 4.0110.2, Tenant agrees that electricity shall be furnished to the Premises (including, but not limited to, electricity necessary to operate the DX units serving the Premises) on a “submetering” basis by Landlord. If the Premises are not already separately submetered as hereinafter provided, Landlord shall, at Landlord’s sole cost and expense install a meter or meters (collectively, the “Submeter”), at a location or locations within the Premises designated by Tenant and reasonably acceptable to Landlord, and perform all other work necessary for the installation of the Submeter (it being agreed that Landlord shall use commercially reasonable efforts to minimize any unreasonable interference that such work causes to the performance of Tenant’s Initial Alterations). Landlord shall install the Submeter within fifteen (15) Business Days after the date that is the later to occur of (x) the Effective Date and (y) the date on which Tenant shall have designated in a written notice to Landlord, and Landlord shall have reasonably approved, the locations within the Premises where Tenant proposes that Landlord install the Submeter. If more than one Submeter is used to measure consumption of electricity in the Premises, (i) at Tenant’s request, Landlord shall install at Landlord’s sole cost and expense, a coincident demand meter to measure the consumption of electricity in the Premises and (ii) Tenant shall be billed only on the basis of the “coincident” demand as measured and calculated from time to time by such coincident demand meter (i.e., as though a single Submeter were measuring such demand), provided such measurement shall be permitted by Con Edison (or any subsequent provider of electricity to the Building). (b) Landlord and Tenant hereby acknowledge and agree as follows: (i) Pursuant to Section 40.1 of the Underlying Lease, the Port Authority has arranged for the furnishing of electrical power from the Power Authority of the State of New York to the grid connection points for the Property, and Landlord has the right to obtain such power for the Premises upon and subject to the terms of the Underlying Lease. (ii) Landlord shall make electricity available to the Premises at a level sufficient to accommodate a demand load of seven (7) ▇▇▇▇▇ per useable square foot, exclusive of base Building HVAC, and Tenant covenants that Tenant’s use and consumption of electricity shall not at any time exceed such amount, nor exceed the capacity of any of the electrical facilities and installations in or otherwise serving or being used in the Premises. Notwithstanding the foregoing, Tenant may elect to install one (1) supplemental tap in the Premises in order to enable Tenant to draw a demand load of up to eight (8) ▇▇▇▇▇ per useable square foot of the Premises, provided that (A) such additional capacity, in Landlord reasonable judgment, is available, taking into account, among other things, the needs of all other present and future tenants and occupants of the Building, all applicable Legal Requirements and the requirements of the insurance providers for the Building, (B) if Tenant shall desire to sublease the floor on which such tap is installed, Tenant shall indicate in the applicable Offer Notice that such tap has been installed on such floor, (C) Landlord shall not be required to obtain any such additional electrical capacity from the Utility, (D) Tenant shall reimburse Landlord, within thirty (30) days after demand therefor, for all reasonable out-of-pocket costs incurred by Landlord in connection with the installation of such tap and any related equipment and (E) Tenant shall pay Landlord, within thirty (30) days after demand therefor, a one time tap fee equal to $350 per amp at 460 volt 3 phase. (iii) Tenant shall have the right to increase the amount of electric power being drawn from the ▇▇▇▇ duct on any full floor within the Premises, at Tenant’s sole cost and expense (but without the payment of any additional tap in fee), provided that (1) the total amount of power allotted to the Premises is not increased and (2) Tenant shall only be entitled to reallocate power from the ▇▇▇▇ duct of another full floor of the Premises served by the same switch as the ▇▇▇▇ duct for the full floor of the Premises with respect to which Tenant shall desire to increase such power. At such time as Tenant shall surrender any floor to Landlord as provided hereunder or on the Expiration Date, Tenant, at its sole cost and expense, shall reinstate all electric capacity on such floor as may have been reallocated or otherwise decreased as a result of any Tenant’s use thereof such that the electric capacity serving any such floor is not less than the electrical capacity for such floor on the date such floor was delivered to Tenant; provided, however, that (A) Tenant shall not be required to reinstate such electric capacity with respect to any portion of the Premises that has been recaptured or subleased by Landlord pursuant to the terms of Section 14.4 or 14.5 hereof to the extent that the applicable Offer Notice states that Tenant is not required to so reinstate such electric capacity (or is silent with respect thereto), (B) Tenant shall not be required to reinstate such electric capacity if not more than one (1) watt per useable square foot of the surrendered floor (or portion thereof) has been redistributed, (C) Tenant shall not be required to reinstate such electric capacity with respect to any floor of the Premises to more than six (6) ▇▇▇▇▇ per useable square foot of said floor of the Premises and (D) in lieu of reinstating such electric capacity, Tenant may (at its sole cost and expense and subject to Landlord’s reasonable approval) cause alternate electric capacity to be provided to such surrendered floor (or portion thereof) such that the electric capacity serving any such floor is not less than the electrical capacity for such floor on the date such floor was delivered to Tenant. (iv) Tenant shall, upon notice from Landlord, promptly cease the use of any of Tenant’s electrical equipment which Landlord’s electrical engineer reasonably determines, causes Tenant to exceed such capacity. (v) If and so long as electric current is supplied by submetering pursuant to this Section 10.2, Tenant will pay Landlord or Landlord’s designated agent, as additional rent for such service, the amounts, as determined by the Submeter, for the purpose of measuring Tenant’s consumption and demand. The Fixed Rent reserved additional rent payable by Tenant pursuant to this Section (the “Electricity Additional Rent”) shall be computed in this Lease includes the agreed sum of $20,785.44 per annum same manner as Electricity Cost, as applied to the Premises, and shall also include a fee equal to Landlord’s reasonable, actual, out-of-pocket costs in connection with such submetering (the “Electricity Fee”) in consideration of Landlord’s administrative and overhead costs. The Electricity Additional Rent shall be binding and conclusive on Tenant unless, with respect to any such ▇▇▇▇ or Electricity Cost Statement, on or before the date that is one hundred eighty (180) days after the delivery by Landlord to Tenant of such ▇▇▇▇ or Electricity Cost Statement, Tenant shall notify Landlord that it disputes the correctness thereof, specifying in reasonable detail the respects in which Landlord, as an additional service, will supply Tenant with electricity for normal use in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Dayssuch ▇▇▇▇ or Electricity Cost Statement is claimed to be incorrect. Landlord and Tenant agree that shall cooperate in good faith to resolve such dispute. Pending the aforesaid sum determination of such dispute, which dispute may be submitted to arbitration in accordance with Article 34, Tenant shall pay the amount shown on such ▇▇▇▇ or Electricity Cost Statement (as and when otherwise payable to Landlord under this Section 10.2). Landlord shall refund or credit any overpayment by Tenant following the final determination of such dispute (with interest at the Applicable Rate on such overpayment from the date such overpayment was determined based on an electrical surveymade through and including the date of such refund or credit). If the Submeter should fail to properly register or operate at any time for any reason whatsoever, Landlord may reasonably estimate the Electricity Additional Rent, and when the Submeter is again properly operative, a copy fair and appropriate reconciliation shall be made, by Tenant paying any deficiency to Landlord within thirty (30) days after demand, or by Landlord crediting Tenant with the amount of which is annexed hereto any overpayment against the next installments of Additional Rent due hereunder, as Schedule F the case may be. Landlord, at its option, may from time to time increase the Electricity Additional Rent based upon any actual increase in the Electricity Cost. The periods to be used for such computation shall be as Landlord, in its sole discretion, may from time to time elect (but not less frequently than quarterly). Where more than one meter measures the electric service to Tenant, the electric service rendered through each meter may be computed and made a part hereof billed at Landlord option, either separately or cumulatively. Bills for the Electricity Additional Rent shall be rendered to Tenant at such time as Landlord may elect, but not fewer than once per year. (vi) The Submeter might be installed subsequent to the date (the "Electric Survey")“Initial Occupancy Date”) that Tenant, or anyone (including any contractors or other workmen) claiming under or through Tenant first enters the Premises. Electricity In such event, the annual Fixed Rent during the period commencing on the Initial Occupancy Date and ending on the date on which a reading of the installed Submeter is made, shall be supplied 24 hours a dayincreased by an amount equal to the product of (A) $0.50, seven days a weeksubject to adjustment for any increases in electric rates or taxes, however and (B) the number of RSF in the event applicable portion of the Premises. Tenant uses electricity acknowledges that in excess connection with the installation or retrofit of that contemplated in the Electric Surveymeter(s), the Fixed Rent reserved herein electricity being supplied to serve the Premises may be increased as temporarily interrupted, provided Landlord shall use commercially reasonable efforts to minimize interference with Tenant’s Initial Alterations, Tenant’s access to and use and occupancy of the Premises. (vii) If, at any time, Landlord shall not be allowed by law to charge Tenant for electric service to the Premises on a submetered basis, then (unless Tenant shall obtain such electricity on a direct meter from the Utility) this Lease shall be deemed amended so that from and after the date on which Landlord ceases to provide electricity on a submetered basis, Landlord shall be entitled to receive compensation for continuing to provide such electric service which shall be equivalent of the Electricity Cost of such electricity plus the Electricity Fee, computed in Section 4.03 hereofa manner reasonably determined by Landlord and payable monthly. If Landlord's electric rates (i.e.pursuant to any law, ruling order or regulation, the public utility rate schedule at the time in question, including all surcharges, taxes, fuel adjustments, taxes regularly passed on amount which Landlord is permitted to consumers by the public utility, and other sums payable in respect thereof charge Tenant for the supply purchase of electric energy electricity pursuant to this Section 10.2 shall be reduced below the amount which Landlord would otherwise be entitled to charge Tenant hereunder, then, to the fullest extent legally permissible, Tenant shall pay the difference between such amounts to Landlord as Additional Rent within ten (10) days after demand therefor, as compensation to Landlord for the use and maintenance of the Building’s electric distribution system. (viii) are increasedNotwithstanding anything to the contrary contained herein, Electricity Additional Rent payable by Tenant under this Section 10.2 shall not include charges for the electricity provided to the DX units serving the Premises during Business Hours (and such electricity shall not be measured by the Submeter). (c) For any portion of the Premises comprised of less than a full floor of the Building (each, a “Partial Floor”), Tenant shall pay to Landlord, as Additional Rent, Tenant’s pro rata share (based upon the ratio of the RSF of the applicable Partial Floor to the then occupied RSF of the applicable floor) of the actual cost of the entire supply of electric current to the applicable floor(s) of the Premises (including the common areas of the applicable floor and electricity for the HVAC units on the applicable floor), based upon Landlord’s utility meter for such floor, together with the Electricity Fee (collectively, the Fixed Rent reserved in this Lease “Partial Floor Electricity Charge”). Such payments shall be made within thirty (30) days after receipt of a statement setting forth the actual cost of electricity and the computation of Tenant’s payment. The Partial Floor Electricity Charge shall be adjusted from time to time in accordance with the provisions of Section 10.2(d) hereof. (d) If, after the initial leasing by applying Tenant of any Partial Floor pursuant to the sum specified aboveterms of this Lease, Tenant’s actual use of such Partial Floor shall change from Tenant’s prior use of such Partial Floor, then either Landlord or Tenant may engage a reputable independent electrical consultant reasonably acceptable to the same percentage as other to make a survey of Tenant’s electric consumption with respect to such rate increase, Partial Floor. In the event that both Landlord and Tenant appoint electrical consultants and such adjusted Fixed Rent consultants are unable to agree on the amount of Tenant’s electrical consumption, then such dispute shall be billed resolved by Landlord arbitration pursuant to Article 34 hereof. The party requesting such survey shall pay for the cost thereof. If any such survey discloses that Tenant’s electrical consumption with respect to such Partial Floor materially exceeds or is materially less than the then current Partial Floor Electricity Charge, with effect then such Partial Floor Electricity Charge shall be increased or decreased, effective as of the date of such survey, to be an amount determined by such electrical consultant to fairly represent the cost of such electricity, based on such survey. Promptly after any increase or decrease in the Partial Floor Electricity Charge becomes effective pursuant to this Section 10.2(d), the parties shall execute, acknowledge and deliver to each other a supplemental agreement in such form as Landlord shall reasonably require confirming such increase or decrease, but failure to do so shall have no effect on Tenant’s obligation to pay the amounts set forth in Section 10.2(c) hereof with respect to electricity, as so increased or decreased. (e) If any taxes or charges are or shall be imposed by any federal, state, city or local authority upon Landlord or its agent in connection with the sale or resale of electricity to Tenant, Tenant covenants and agrees that, where permitted by law, Tenant’s pro rata share of such taxes or charges shall be passed on to Tenant and paid by Tenant to Landlord or its agent within thirty (30) days after demand therefor, as Additional Rent, without set off or deduction. (f) Landlord reserves the right to discontinue furnishing electricity to Tenant for any portions of the Premises at any time upon not less than thirty (30) days’ notice to Tenant or such longer period as shall be reasonably necessary for Tenant to obtain electric energy from a third party service provider, but Landlord shall exercise such right only if required to do so by applicable Legal Requirements. If Landlord shall so discontinue the furnishing of electricity as provided herein, this Lease shall be unaffected thereby, except that, from and after the effective date of such discontinuance, (i) Tenant shall arrange to obtain electricity for such portions of the Premises directly from the public utility company supplying electricity to the Building and may utilize the then existing electric feeders, risers and wiring serving the Premises to the extent that they are available and safely capable of being used for such purpose, (ii) all meters, equipment and other facilities which may be required for Tenant to obtain electricity directly from such public utility company shall be installed by Landlord's electric rate. , and the actual cost thereof shall be payable to Landlord by Tenant upon demand, as Additional Rent, without set off or deduction, if in Landlord’s reasonable judgment the same are necessary, and (iii) any such installation shall be maintained by Tenant, at its expense, and shall be subject to such conditions as Landlord and/or the public utility company may require, and Landlord shall not be liable in any way to Tenant for any failure therefor and the same shall not be deemed to be a lessening or defect in diminution of services within the supply or character of electric energy furnished to the Demised Premises by reason meaning of any requirementlaw, act rule or omission of the public utility serving the Building with electricity regulation now or for any other reason not attributable to the Landlord. At Landlord's optionhereafter enacted, Tenant shall purchase from the Landlord promulgated or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agent

Appears in 1 contract

Sources: Lease Agreement (Moodys Corp /De/)

Electricity. Section 4.01Landlord shall redistribute or furnish electricity to or for the use of Tenant in the Premises for the operation of Tenant’s electrical systems and equipment in the Premises, at a level sufficient to accommodate a demand load of six ▇▇▇▇▇ per usable square foot of office space in the Premises. The An estimated charge for such electricity (the “Electrical Inclusion Factor”) is included in Fixed Rent reserved on a so-called “rent inclusion” basis; however, the value to Tenant of such service may not be fully reflected in this Lease includes Fixed Rent. Accordingly, Tenant agrees that following the agreed sum commencement of $20,785.44 per annum in consideration of which Landlord, as an additional service, will supply Tenant with electricity for normal use Tenant’s ordinary business activities in the Demised Premises between the hours 8:00 A.M. and 6:00 P.M. on Business Days. Premises, Landlord may cause an independent electrical engineer or electrical consulting firm selected by Landlord (“Landlord’s Consultant”) to make a determination, certified in writing to Landlord and Tenant, of the full value of the electrical service supplied to Tenant, based upon a survey indicating the lighting load, office equipment and all other electrical usage by Tenant. Thereafter, Landlord may, at any time and from time to time, at its sole option, cause Landlord’s Consultant to make subsequent determinations of the then full value of the electrical service supplied to Tenant agree that on the aforesaid sum was determined based on an electrical survey, a copy of which is annexed hereto as Schedule F and made a part hereof (the "Electric Survey"). Electricity shall be supplied 24 hours a day, seven days a week, however basis set forth in the event Tenant uses electricity in excess of that contemplated in the Electric Survey, the Fixed Rent reserved herein may be increased as provided in Section 4.03 hereofimmediately preceding sentence. If Landlord's electric rates (i.e.’s Consultant determines that the full value of the electrical service supplied to Tenant exceeds the Electrical Inclusion Factor, the public utility rate schedule at the as increased from time to time in questionaccordance with this Section 10.1, including all surchargesthen, taxes, fuel adjustments, taxes regularly passed on to consumers by the public utility, and other sums payable in respect thereof for the supply of electric energy to Landlord for the Building) are increased, the Fixed Rent reserved in this Lease shall be adjusted by applying to the sum specified above, the same percentage as such rate increase, and such adjusted Fixed Rent shall be billed by Landlord upon notice to Tenant, with effect Fixed Rent and the Electrical Inclusion Factor shall be increased to reflect the full value, on an annual basis, of such increased electrical usage by Tenant. Any increase in Fixed Rent and the Electrical Inclusion Factor shall be effective as of the date of the increase in Tenant’s electrical usage, as determined by the survey, and Tenant’s liability therefor shall be retroactive to such date. The computation of Landlord's electric rate. the Electrical Inclusion Factor under this Article 10 is intended to constitute a formula for an agreed rental adjustment and may or may not constitute an actual reimbursement to Landlord shall not be liable in any way for the electrical service supplied to Tenant pursuant to this Lease. If any tax is imposed on Landlord’s receipts or income from the redistribution, furnishing, or sale of electricity to Tenant as provided for any failure or defect in the supply or character of electric energy furnished above (other than a general tax on corporate income not specific to the Demised Premises by reason provision of electricity), whether based on the Electrical Inclusion Factor or any requirement, act or omission of the public utility serving the Building with electricity or for any other reason not attributable to the Landlord. At Landlord's option, Tenant shall purchase from the Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used in the Demised Premises and Tenant shall pay Landlord's reasonable charges therefor which shall be commercially competitive, for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to be commercially competitive, Tenant shall no longer be required to purchase same from Landlord or Landlord's agentincrease

Appears in 1 contract

Sources: Lease Agreement