Electricity. (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. Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 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.
Appears in 2 contracts
Sources: Lease (Surgiquest Inc), Lease (Surgiquest Inc)
Electricity. Tenant shall also pay Landlord for electricity provided to the Premises and the Building as follows:
(a) (i) As of the Commencement Date, Landlord shall furnish electrical service to If the Premises of such quality and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square foot. are separately metered, Tenant shall pay to Landlord, for electricity as Additional Rent, electric charges (measured by the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in Individual meter serving the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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 lightingPremises, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of at the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordingly, if Tenant’s electricity consumption exceeds such criteria, the Electric Inclusion Amount shall current rate specified from time to time be equitably adjusted to reflect the resulting increase in such useby Pacific Gas and Electric Company. 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 determination of the adjustment, Tenant shall pay to Landlord monthly, as Additional Rent, an administrative and billing fee, which rate may be adjusted from time to time;
(b) If the amount of such adjustment as specified in Landlord’s statement. Thereafter, if it is determined that Tenant has overpaidPremises are not separately metered, Tenant shall receive a credit against Additional Rent pay for electricity on the first day of each month during the term of this Lease beginning on the first such date after the commencement of this Lease in the amount based upon ▇▇▇▇▇▇'s electricity use classification at a rate deemed reasonable by the Landlord. Landlord reserves the right to change ▇▇▇▇▇▇'s use classification in its sole and absolute discretion upon thirty (30) days written notice to ▇▇▇▇▇▇. As of each Adjustment Date, Tenant's electricity payment obligation under this subparagraph (b) shall be increased by the overpaymentpercentage by which Landlord's per kilowatt cost of electricity has increased due to rate increases imposed by the utility company.
(c) Notwithstanding anything to the contrary contained in this Lease, said credit at any time during the term of this Lease Landlord shall have the right, in Landlord's sole and absolute discretion, either to be applied against (i) install an individual electrical meter in the next accruing installment(sPremises if the Premises are not presently metered, or (ii) remove any electrical meter presently serving the Premises and charge Tenant for its electrical usage pursuant to Paragraph 5(b) above.
(d) Landlord shall have the same remedies for a default in the payment for electricity pursuant to this Paragraph 5 as for a default in the payment of Additional Monthly Rent.
Appears in 2 contracts
Sources: Lease Agreement (Keller Manufacturing Co), Lease Agreement (Keller Manufacturing Co)
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 (athe "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) (i) As 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 Commencement Date, date of the increase of Landlord's electric rate. Landlord shall furnish electrical service 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 such quality 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 capacity ballasts used in order to provide the Demised Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square foot. and Tenant shall pay to Landlord, as Additional Rent, electric 's reasonable charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, therefor which shall be effective from the date of such adjustmentcommercially competitive, which agreement for providing and installing same on demand, as additional rent; if Landlord's charges shall cease to 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 determination of the adjustmentcommercially competitive, Tenant shall pay no longer be required to purchase same from Landlord the amount of such adjustment as specified in or 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.'s agent
Appears in 2 contracts
Sources: Lease (Ticketmaster Online Citysearch Inc), Lease (Citysearch Inc)
Electricity. (a) (i) As of the Commencement Date, 15.01. Landlord shall furnish electrical service to the Premises of such quality and capacity electric energy that Tenant shall require in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square footDemised Premises. Tenant shall pay to Landlord, as additional rent, the costs and charges for all electric energy furnished to Tenant at the Demised Premises. Additional Rentrent for such electric energy shall be calculated and payable in the manner hereinafter set forth.
15.02. Within a reasonable time after the commencement of the term of this Lease, subsequent to Tenant's having taken occupancy of the Demised Premises and having installed and commenced the use of Tenant's electrical equipment, Landlord, at Tenant's sole expense, shall cause a survey to be made by a reputable independent electrical engineer or similar agency of the estimated use of electric charges energy (other than for Building standard heat and air conditioning as described in Exhibit C) to the “Electrical Inclusion Amount”) Demised Premises, and shall compute the cost thereof for the quantity so determined at prevailing retail rates. Tenant shall pay Landlord the cost of such electric energy, as so calculated, on a monthly basis, as additional rent, together with its payment of fixed rent. Until such time as Landlord shall complete the aforedescribed survey, Tenant shall pay to Landlord, each and every month, as additional rent, for and on account of Tenant’s consumption of 's electrical energy in the Premises consumption, the sum of $101,355.00 5,049.58 to be applied against Tenant's obligations hereunder. Upon completion of the survey, there shall be an adjustment for the period from the Commencement Date through the date that the results of the survey shall be effectuated as shall be required. Landlord shall have the right, during any calendar year following the calendar year in which the first survey is performed, to cause the Demised Premises to be resurveyed. Such resurvey shall be limited to one (1) per annum payable in equal monthly installments of $8,446.25every calendar year unless an electrical emergency creates the need for further resurveys. The Electric Inclusion Amount is based upon Landlord’s assumption cost of such resurveys shall be borne by Landlord unless Tenant's usage increased by more than 5% from the prior survey or resurvey. In the event that such resurvey shall indicate increased or decreased electrical consumption by Tenant at the Demised Premises, there shall be an adjustment in the amount paid by Tenant to Landlord for Tenant’s initial 's electrical installation will not result consumption in a total connected accordance with the resurvey as well as an adjustment retroactive to the date Landlord establishes Tenant's increase or decrease in electrical load for lighting, and equipment will not be consumption in excess of five the consumption established by the prior survey. Landlord shall submit to Tenant the results of any electrical survey and the same shall be deemed binding upon Tenant unless Tenant shall object to same within ninety (590) ▇days of the date that Landlord shall furnish Tenant with the results of the survey. In the event that Landlord and Tenant cannot agree upon the results of a survey the same shall be submitted to arbitration in accordance with Article 33, provided, however, until such time as the arbitration shall have been concluded, the results of Landlord's survey shall be utilized for the purposes of determining Tenant's electrical consumption with an appropriate adjustment to be made based upon the results of the arbitration.
15.03. 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. Landlord shall furnish and install all replacement lighting tubes, lamps, bulbs, and ballasts required in the Demised Premises at Tenant's expense.
15.04. Tenant's use of electric energy in the Demised Premises shall not at any time exceed the capacity of any of the electrical conductors and equipment in or otherwise serving the Demised Premises. Landlord states that the capacity for Tenant's connected load is approximately 4 +/- w▇▇▇▇ per rentable square foot foot. In order to insure that such capacity is not exceeded and to avert possible adverse effect upon the Building electric service, Tenant shall not, without Landlord's prior written consent in each instance (which shall not be unreasonably withheld), connect any additional fixtures, appliances, or equipment to the Building electrical distribution system or make any alteration or addition to the electric system of the Demised Premises existing on the Commencement Date. Should Landlord grant such consent, all additional risers, HVAC equipment or other electrical equipment required therefor shall be provided by Landlord and that the cost of installation and maintenance thereof shall be paid by Tenant willupon Landlord's demand. As a condition to granting such consent, except Landlord, at Tenant's sole expense, may cause a new survey to be made of the use of electric energy (other than for Building standard heating and air-conditioning as described in Exhibit C) in order to calculate the potential additional electric energy to be made available to Tenant based upon the estimated additional capacity of such additional risers or other equipment. When the amount of such increase is so determined, and the estimated cost thereof is calculated, the amount of monthly additional rent payable pursuant to Section 15.02 hereof shall be adjusted to reflect the additional cost, and shall be payable as therein provided.
15.05. If the public utility rate schedule for the purpose supply of office cleaning, use electrical energy only from 8:00 A.M. electric current to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordingly, if Tenant’s electricity consumption exceeds such criteriathe Building shall be increased during the term of this Lease, the Electric Inclusion Amount additional rent payable pursuant to Section .15.02 hereof 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 Landlord's cost of $2.50 per rentable square feet furnishing electric service to the Demised Premises effective as of the Premisesdate of any increase. 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 canagree that the rate charged to Tenant for electricity shall not agree thereon, be greater than the amount of such adjustment shall be determined, based on standard practices, by an independent electrical consultant selected by Landlordrate Tenant would have paid had the Demised Premises been separately metered.
15.06. 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be effective agrees within three (3) months from the date Commencement Date to submit to Landlord a list of such adjustmentfixtures and equipment utilizing electric current including, which agreement shall be reasonably acceptable to Tenantbut not limited to, copying machines, computers and word processing equipment and equipment of a similar nature. Any adjustment shall be effective even if such supplementary agreement (in form reasonably approved by Tenant) is not executed and delivered. Pending On the determination first day of the adjustmenteach calendar quarter thereafter, Tenant shall pay submit 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 statement indicating any substantial changes in the amount of list previously supplied as same may be updated by the overpayment, said credit to be applied against the next accruing installment(s) of Additional Rentrequired quarterly statements.
Appears in 1 contract
Sources: Lease Agreement (Intelligroup Inc)
Electricity. (aA) If Tenant requires electric current for use in the Premises in excess of the amount required for general business office use and if in Landlord’s reasonable judgment,
(i) As Landlord’s facilities are inadequate for such excess requirements or (ii) such excess use shall result in an additional burden on the Building air conditioning system and additional cost to Landlord on account thereof then, as the case may be, (x) Landlord, at Tenant’s sole cost and expense, will furnish and install such additional wire, conduits, feeders, switchboards and equipment as may be required to supply such additional requirements of Tenant, provided that the Commencement Datesame shall be permitted by law and applicable insurance requirements and shall not cause damage to the Building or the Premises or cause or create a dangerous or hazardous condition, or (y) Tenant shall reimburse Landlord shall for such additional cost, as aforesaid.
(B) Tenant agrees that it will not make any material alteration or addition to the electrical equipment in the Premises without the prior written consent of Landlord, which consent will not be unreasonably withheld.
(C) Landlord will furnish electrical service electricity to the Premises of such quality through presently installed electrical facilities for Tenant’s reasonable use for lighting, electrical appliances and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square footequipment. Tenant shall pay to Landlordpay, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 4,500.00 per annum payable year ($1.50/rentable square foot/year) in equal monthly installments of $8,446.25with Base Rent. 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 lightingSaid Additional Rent shall be subject to proportionate increase(s), and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordingly, if Tenant’s electricity consumption exceeds such criteria, the Electric Inclusion Amount shall from time to time be equitably adjusted and at any time throughout the Term, to reflect the resulting increase extent that the rate charged to Landlord by the utility company providing electricity to the Building is increased. Tenant agrees that, at Landlord’s sole option, an electrical consultant, selected by Landlord, may make periodic surveys of the electrical equipment 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 In the amount of the adjustment, and the same shall become binding upon the parties unless, within thirty (30event such survey(s) 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds indicate that Tenant’s use does not justify an increase of electricity is greater than 2.5% of $1.50 per rentable square foot, the Additional Rent, in which case the fee electricity charge shall be paid by Landlordadjusted accordingly. When In the amount of such adjustment event that the Premises is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 determination of the adjustmentseparately metered for electrical usage, Tenant shall pay all applicable utility charges directly to Landlord the amount provider of such adjustment as specified in Landlord’s statementutility. ThereafterLandlord reserves the right to change electricity providers at any time, if it is determined and to purchase green or renewable energy, provided 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 Rentsuch change will not materially adversely affect Tenant.
Appears in 1 contract
Electricity. (a) (i) As of the Commencement Date, 5.01 Landlord shall furnish electricity to Tenant on the basis of a "rent inclusion plan," pursuant to which the Base Rent shall be increased by an Initial Electric Charge in consideration of Landlord furnishing electrical energy to the Demised Premises. Unless otherwise established by the results of a survey or an increase in the rates of the public utility company supplying electrical service to the Premises of such quality and capacity Building as provided in order to provide Section 5.02, Tenant agrees that the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square foot. Tenant Initial Electric Charge shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of be $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ 2.75 per rentable square foot of the Demised Premises and that per annum. Tenant will, except for shall pay such Initial Electric Charge (or any increase thereof pursuant to Section 5.02) in twelve (12) equal monthly installments in advance on the purpose first day of office cleaning, use electrical energy only each month from 8:00 A.M. to 6 P.M., Monday through Fridaythe Commencement Date, and 8 A.M. such charge shall constitute Additional Rent.
5.02 Landlord shall have the right to 12 P.M. designate an electrical consultant to make a survey or resurvey of the electric consumption and power load on Saturdays the Demised Premises. If such survey discloses that the cost of Tenant's average consumption is greater than eighty-five percent (“Normal Business Hours”85%) of the Initial Electric Charge (or the consumption as disclosed by a previous survey). Accordingly, if Tenant’s electricity consumption exceeds such criteria, the Initial Electric Inclusion Amount Charge shall, upon written notice from Landlord to Tenant and effective as of the date of such notice, be increased by the annual cost of such additional consumption. If the rates or charges at which Landlord purchases electric current from the public utility company supplying electrica1 service to the Building shall from time be increased over the rates in effect on the Commencement Date, the Initial Electric Charge payable hereunder shall be increased by the amount of the additional annual cost to time be equitably adjusted Landlord of furnishing electricity to reflect the resulting increase in such use. In additionTenant.
5.03 At any time, Landlord shall have the right to conduct have electricity supplied to the Demised Premises on a periodic survey direct metered or sub-metered basis. If electricity is available to Tenant on a direct metered basis for the Demised Premises, the costs of such service shall be paid directly by Tenant to such public utility, but a default by Tenant in the payment of any such ▇▇▇▇ shall be deemed a default by Tenant under this Lease.
5.04 If Landlord furnishes electricity to the Demised Premises on a sub-metered basis, Tenant shall pay to Landlord, on a monthly basis, as Additional Rent, the amounts determined by the sub-meter installed for the purpose of measuring the electric consumption of the Demised Premises, calculated by applying to Tenant’s actual 's measured electrical usage demand and increase consumption 103% of the Electric Inclusion Amount if the survey indicates the Tenant’s usage public utility rate schedule then applicable to Landlord for purchase of electricity exceeds for the cost of $2.50 per rentable square feet of Building. Where more than one sub-meter measures the Premises. Landlord shall furnish a statement of Landlord’s determination as service 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 thereonTenant, the amount of such adjustment service rendered through each sub-meter may be computed and billed separately to Tenant. Bills for electric energy shall be determined, based on standard practices, by an independent electrical consultant selected by Landlord. Tenant shall permit said consultant to have access to the Premises rendered at such times as Landlord may elect and Tenant’s electrical facilities for the foregoing purpose at all reasonable times. The fee of such consultant amount shall be paid by Tenant unless as Additional Rent within ten (10) days from the date Landlord invoices Tenant for such consultant finds charges.
5.05 Regardless of which method Landlord employs to govern the supply of electricity to the Demised Premises, Tenant agrees at all times that Tenant’s its use does of electric current shall not justify an increase greater than 2.5% exceed the capacity of existing feeders to the Buildings or the risers or wiring installation. Tenant shall make no electrical installations, alterations, additions or changes to electrical equipment or appliances without the prior written consent of Landlord in each instance. Tenant shall at all times comply with the rules, regulations, terms and conditions applicable to service equipment, wiring and requirements of the Additional Rentutility supplying electricity to the Building. If, in which case Landlord's sole judgment, Tenant's electrical requirements necessitate installation of additional risers, feeders or other proper and necessary equipment, and if Landlord has approved such installation, the fee same shall be paid installed by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustmentat Tenant's sole expense, which shall be effective from chargeable and collectible as Additional Rent and paid within ten (10) days after rendition of a ▇▇▇▇ to Tenant therefore. Landlord shall not be liable in any way to Tenant for any failure or defect in the date supply or character of such adjustmentelectrical service furnished to the Demised Premises by reason of any requirement, 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 determination act or omission of the adjustment, Tenant shall pay utility serving the Building or for any reason not attributable 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.
Appears in 1 contract
Electricity. 44.1 Tenant agrees to purchase from Landlord or from a meter company designated by Landlord, all electric current consumed (aand all bulbs, lamps or electric fixtures, and to pay for the cost of installation thereof) used or to be used in the Premises or by Tenant's signs or by "air conditioning equipment" (ias such term is hereinafter defined) As servicing the Premises. The term "air conditioning equipment" as used herein shall be deemed to include, without limitation, all components and auxiliary equipment used in connection with air conditioning equipment servicing the Premises. Tenant shall pay Landlord for any given ▇▇▇▇ period for such electric current at the prevailing rate Sercie Classification 4-Rate I (or successor service classification rate), and not the time-of-day rate schedule (if any), and if they increase or increase in such rate becomes effective during the term of this Lease, for similar service by any public service company servicing the part of the Commencement Datecity where the Building is located (provided such incresae, if any, results in a higher yield to Landlord) all such increase or increases shall be paid by Tenant to Landlord or the meter company designated by Landlord at the same percentage increase as is shown by the first month's increased charges paid by Landlord, when billed. The amount to be paid by Tenant for current consumed shall furnish electrical service to be determined by a meter or meters on the Premises or installed by Landlord and billed separately according to each meter. Bills for current consumed by Tenant (and/or bulbs, lamps or electric fixtures, renewed or replaced) shall be rendered by Landlord, or the meter company, to Tenant at such time as Landlord may elect, and shall be deemed to be, and be paid as additional rent within ten (10) days after rendition of any such quality and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square foot. Tenant Notwithstanding any other provision hereof, any such bills rendered by Landlord shall pay initially (and until adjusted as herein provied) include an administrative fee of ten (10%) percent of the electric charge, which amount shall be deemed additional rent under the Lease, and which such administrative fee shall, at any time that the Building qualifies under Article 2-I of the General City Law of the City of New York for reduced charges for electricty, be increased so as to Landlordequal twelve (12%) percent. Landlord shall have the right, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum event of $101,355.00 per annum payable in equal monthly installments any nonpayment by Tenant of $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, and equipment will not be in excess any such bills within said ten (10) day period after rendition of five (5) ▇any such ▇▇▇▇ per rentable square foot to discontinue and cut off the use of electric current to Tenant without further notice, without releasing Tenant from any liability under thise Lease, and without Landlord or the said meter company incurring any liability under this Lease, and without Landlord or the said meter company incurring any liability for any damage cause by such discontinuance of service. Tenant further agrees, on demand by Landlord, or the meter company, to deposit with Landlord or with the meter company designated by Landlord cash deposit sufficient, in Landlord's reasonable opinion, to secure payment of the Premises eolectric consumed by Tenant in the Premises. No current shall be furnished until the equipment of Tenant has been approved by the proper public authorities, the New York Board of Fire Underwriters and the New York Fire Insurance Exchange or similar organization having jurisdiction, and no changes shall be made in such equipment without the written consent of Landlord. Tenant shall make no changes and/or additions to the electrical equipment, wiring and/or appliances in the Premises, without the prior written consent of Landlord. Rigid conduit only will be allowed by Landlord for exposed work. If, in Lanldord's sole opinion, Tenant's installation overloads any riser or risers, and/or switch or switches in the Building, Tenant, at Tenant's sole cost and expense, promply will provide and install, in conformity with all applicable Legal Requirements and all applicable provisions of this Lease, any additional riser or risers and/or any or all switches, that may be necessary; but no risers and/or switches may be installed without Tenant willfirst obtaining the prior written consent or Landlord. Any tax now in effect or hereafter imposed upon Landlord's receipts from the sale or resale of electrical energy to Tenant by any municipal, except state of federal agency shall be passed on to Tenant and included in the ▇▇▇▇ of, and paid by Tenant to, Landlord or the meter company designated by Landlord. In the event that permission is granted by the meter company for alternationg current installations, Tenant, at its sole cost and expsne, will furnish and install all risers, sercie wiring, switches and meters that may be necessar for such installation, and, at its own cost and expense, will maintain and keep in good repair all such risers, wiring and/or switches and/or meters, such installation to be subject to all applicable provisions of this Lease.
44.2 In the event that the "submetering" of electric current in the Building is hereafter prohibited by any law hereinafter enacted, or by any order or ruling of the Public Service Commission of the State of New York, or by any judicial decision of any appropriate court, or if for any other reason, Landlord, in its sole and arbitrary discretion, elects to terminate the practice of submetering the Premises, Tenant shall purchase electricity from the Landlord on a rent inclusion basis or directly from the public utility serving the Building, as designated by Landlord in its sole discretion, and the provisions of Exhibit G annexed hereto and made a part hereof shall govern the method by which electricity is furnished to Tenant (including the manner in which such method shall be changed) and the charges to be paid by Tenant for and in connection with the furnishing of electricity.
44.3 In the event any legislature, or the Public Service Commission or any judicial body enacts or makes any law, ruling, order or regulation modifying and/or changing ther service classification, rate or charge under which Tenant is purchasing electric current from Landlord, pursuant to Section 44.1 hereof, then and in such event. Tenant will pay as additional rent to Landlord or Landlord's designated agent (in addition to the sums payable pursuant to said Section 44.1), for the purpose use and maintenance of office cleaningthe Building electric distribution system, use electrical energy only from 8:00 A.M. an amount equal to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordinglythe difference, if Tenant’s electricity consumption exceeds positive, obtained by subtracting (i) the sums payable by Tenant by reason of such criteriaorder, law, ruling or regulation of any legislature, the Electric Inclusion Amount shall Public Service Commission or any judicial body made or enacted after date of the Lease from time (ii) the sums that otherwise would have been payable by Tenant pursuant to time be equitably adjusted Section 44.1 hereof.
44.4 Wherever reference is made in this Article to reflect rate(s) or charge(s) of the resulting increase public utility supplying electricity to the Building or to increases in such userates or charges, the words "rates or charges" shall be deemed to include, without limitation, any and all (including any new or additional): (i) kilowatt hours or energy charge; (ii) kilowatts of demand charge; (iii) fuel adjustment charge; (iv) transfer adjustment charge; (v) utility tax; (vi) sales tax; and (vii) any and all other charges and taxes required to be paid by Landlord to the utility company.
44.5 In no event shall the additoinal rent charge made to Tenant pursuant to this Article for electricity supplied to the Premises be less than Landlord's actual cost therefor.
44.6 If Tenant desires to use natural gas in the Premises, Tenant, at its sole cost and expense, shall make all applications necessary to obtain natural gas service at the Premises from the public utility serving the Building. In additionIf, Tenant obtains approval from the public utility for natural gas service at the Premises, Tenant shall give Landlord written notice accompained by a copy of such approval and Landlord, at Tenant's sole cost and expense, shall perform all alterations and installations needed to bring natual gas to the Premises from the point at which the gas line enters the Building from the street. Tenant shall purchase and receive natural gas directly from the public utility serving the Building in accordance with all rules and regulations of the public utility applicable to the supplying of gas. Tenant, at its sole cost and expense, (i) shall furnish and install at a location selected by Landlord and maintain and keep in repair all metering equipment needed to measure the consumption of gas supplied to Tenant by the public utility and (ii) shall furnish, install, maintain and keep in repair all pipes and equipment for the distribution and use of natural gas in the Premises. Tenant shall not permit its consumption of gas in the Premises to exceed the capacity of the gas distribution system serving the Building or to interfere with its use by other tenants. To insure that the capacity of the gas distribution system is not exceeded, Tenant shall not install any gas operated equipment without Landlord's prior written consent in each instance. Landlord makes no representation or warranty that gas service is available at the Premises or the Building and shall not be liable for (and Tenant shall have the right no abatement or reduction in rent for) Tenant's inability 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 obatin natural gas service at the Premises. Landlord shall furnish have no liability for any defect or inadequacy in the character or quantity of natural gas purchased by Tenant from the public utility.
44.7 The failure of Tenant to pay any charge incurred in connection with Tenant's purchase of gas or, if Landlord shall require Tenant to purchase electricity directly from the public utility pursuant to Section 44.2, of electricity directly from the public utility within ten (10) days after it becomes due shall constitute a statement of Landlord’s determination as default under this Lease.
44.8 Landlord and Tenant acknowledge that prior to the amount date of this Lease, Landlord has filed an application to qualify the Building under the Industrial and Commercial Incentive Program, CITY OF NEW YORK ADMINISTRATIVE CODE, Title 11, Chapter 2, Part 4 (the "ICIP Program"). Landlord and Tenant further acknowledge that in the event the Buildiing qualifies under the ICIP Program, then due to such qualification, the Building may also qualify under the Lower Manhattan Energy Plan, Article 2-I of the adjustment, and General City Law of the same shall become binding upon City of New York (the parties unless, within thirty (30"LMEP") 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 has applied for, and Tenant cannot agree thereonsuccessfully qualifies the Building under the LMEP, then Landlord shall credit against Tenant's obligation to pay electricity costs due under this Lease (whether the amount of such adjustment shall be determinedsame are due through a rent inclusion charge for electricity, based on standard practices, or otherwise ( as the case may be)). The reduction in electricity cost realized by an independent electrical consultant selected by Landlord. Tenant shall permit said consultant to have access the Building under the LMEP to the Premises and extent attributable to the Premises. In accordance with Article 2-I of the General City Law of the City of New York, subsection 25-bb(c)(5). Landlord shall set forth on all invoices for Tenant’s electrical facilities 's bills form Landlord for electricity (for which reductions thereof are by reason of the foregoing purpose at all reasonable timesapplicability of the LMEP), substantially the following language: "Tenant may be entitled to share a rebate which your Landlord has received for charges for energy pursuant to the revitalization area energy rebate program. The fee of such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, amount is separately stated and identified in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 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 Rentthis ▇▇▇▇."
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Electricity. (a) Landlord, at Landlord’s expense, subject to the provisions of this Article 9, shall furnish alternating current electrical energy to Tenant (i) As for use in the Existing Premises at the levels provided under the Existing Leases, and (ii) for use in the New Premises at a level of not less than 1200 amperes, 480 volts, 3-phase, 4-wire, dedicated to Tenant. Tenant shall pay Landlord a one-time fee for the Commencement Date, Landlord shall furnish installation of such electrical service capacity of $125.00 per ampere for each ampere provided to the New Premises of such quality and capacity in order above an amount equal to provide the Premises with no fewer than five twelve (512) ▇▇▇▇▇ per rentable square footRentable Square Foot of space in the New Premises. Tenant covenants that Tenant’s use and consumption of electric current in the Premises shall not at any lime exceed the foregoing amount, nor exceed the capacity of any of the electrical facilities and installations in or otherwise serving or being used in the Premises. Tenant shall pay Landlord, 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 less than the 1200 ampere, 480 volt service described above, Tenant shall 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 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 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 RentRent (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), electric charges and (if) the “Electrical Inclusion Amount”) amount of any taxes imposed by any Governmental Authority on account Landlord’s receipts from the sale of electricity to Tenant. In the event that more than one submeter is used to measure Tenant’s consumption of electrical energy electricity in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 determination of the adjustment, Tenant shall pay to Landlord be billed only on 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 basis of the overpayment“totalized” demand, said credit to be applied against the next accruing installment(s) of Additional Renti.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.
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Electricity. (a) (i) As of the Commencement Date, 4.01. Landlord shall furnish electrical service to Tenant the Premises of such quality and capacity electric energy which Tenant requires in order the demised premises, in an amount up to provide the Premises with no fewer than five six (56) ▇▇▇▇▇ per rentable square foot. Tenant shall pay to Landlord, as Additional Renton a "rent inclusion" basis, electric charges (through the “Electrical Inclusion Amount”) on account of presently installed electrical facilities for Tenant’s consumption of electrical energy 's reasonable use in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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 demised premises for lighting, light office equipment and equipment will not 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 excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 Premisesfixed annual rent payable hereunder. Landlord shall furnish a statement 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 Landlord’s determination 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 amount of the adjustmentelectrical wiring and other installations necessary for, and the same shall become binding upon the parties unlessfor its obtaining and redistribution of, within thirty electric current as an additional service; and (30ii) 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustmentElectricity Rent Inclusion Factor (hereinafter called "ERIF"), which shall be effective subject to periodic adjustments as herein provided, has been partially based upon Tenant's estimated connected electrical load and hours of use thereof for 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 (as determined by the electrical consultant as hereinafter provided) to the rate charged for such load and usage in the service classification in effect on January 1, 1998, pursuant to which Landlord then purchased electric current for the entire Building from the date public 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, charges, fuel adjustment, which agreement or service classifications, or by taxes or charges of any kind imposed thereon, or for any other such reason, then the aforesaid ERIF portion of the fixed annual rent shall be reasonably acceptable to Tenant. Any adjustment increased in the same percentage and the fixed annual rent provided herein 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 Rentincreased accordingly.
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Sources: Lease Agreement (24/7 Media Inc)
Electricity. (a) (i) As of 14.01. Except as otherwise provided in this Article 14, on and after the Commencement Date, Landlord shall furnish electrical service supply electricity to the Premises on a submetered basis in accordance with this Section 14.01 using submeters heretofore installed in the Premises by Tenant (herein called “Tenant’s Meters”), which Tenant’s Meters shall measure the electricity consumed by Tenant in the Premises then leased by Tenant hereunder, excluding any electricity consumed in connection with the production of base building HVAC or any other services that Landlord is required to provide to the Premises in accordance with the terms of this lease. The amounts to be charged to Tenant by Landlord per kilowatt (herein called “KW”) and kilowatt hour (herein called “KWHR”) pursuant to this Article 14 for electricity consumed within the Premises (and by any equipment installed by Tenant outside of the Premises) shown on Tenant’s Meters shall be one hundred (100%) percent of the average amount (herein called “Landlord’s Rate”) at which Landlord from time to time purchases each KW and KWHR of electricity for the same period from the utility company, including all surcharges, taxes, fuel adjustments and sales taxes and charges regularly passed on to customers by the public utility and other sums payable in respect thereof to the public utility for the supply of electric energy to Landlord for the entire Building (which would include the utility time of day rate or similar provisions affecting the utility service classification applicable to the Building) as more specifically set forth below. Notwithstanding the foregoing, if and to the extent that any of such quality meters shall not be operational for any reason, Tenant agrees to pay Landlord for electricity pursuant to this Section 14.01 until such time as said meter(s) become operational (a) the sum of ***[$ ]***8 per rentable square foot per annum during any period and capacity in order with respect to provide that portion of the Premises that is not being occupied by Tenant or any other permitted occupant for business purposes, including, without limitation, any period that Tenant is performing construction in the applicable space and (b) the sum of ***[$ ]***9 per rentable square foot per annum at any time that Tenant shall occupy the Premises for business purposes; provided, however, that following the point in time after such meters have been made operational and a reasonable number of meter readings have been taken to make a determination of Tenant’s actual consumption of electricity in the Premises, such ***[$ ]*** shall be adjusted retroactively for such period prior to such meters becoming operational to equitably estimate Tenant’s actual consumption (KWHR) of electricity during such period. Tenant and its authorized representative may have access to Tenant’s Meters from time to time during the Term (but not more frequently than once per week) on at least one (1) day’s request (which need not be in writing) for the purpose of verifying Landlord’s meter readings. To the extent that Landlord provides an engineer or other Building representative to accompany Tenant’s employees, contractors and/or authorized representatives for the duration of Tenant’s access to Tenant’s Meters, Landlord shall provide such engineer or Building representative without additional charge to Tenant, provided that it does not require more than a reasonable amount of time (failing which Landlord shall be entitled to assess a reasonable additional charge) and further provided that the foregoing shall not be deemed to prohibit Landlord from including the salary of such engineer or Building representative in Operating Expenses subject to and in accordance with no fewer than five (5) ▇the provisions of Article 3. Landlord’s Rate shall be determined by dividing Landlord’s total ▇▇▇▇ per rentable square footfrom the utility company for each period (i.e., the aggregate amount charged for both KWs and KWHRs) by the total KWs and KWHRs consumed by the Building as shown by said ▇▇▇▇ (herein called the “Quotient”), and the charge to Tenant pursuant to this Article 14 for KW and KWHR consumed within the Premises (and by any equipment installed by Tenant outside of the Premises) in the event of submetering shall be calculated by multiplying the electricity consumed by Tenant within such period by the Quotient. If the amount appearing on the utility company invoice shall not reflect all credits, rebates, or refunds (including tax or utility credits, rebates and refunds) to be received by Landlord with respect to the electricity covered thereby, then in computing Landlord’s Rate the amount so appearing shall be reduced by the amount of all such credits, rebates and refunds; provided, however, that Tenant shall not be entitled 8 To be mutually agreed to reflect then-current rates or such other mutually acceptable methodology for computing electrical charges during any period that meters are not operational. 9 To reflect an amount equal to Tenant’s average electrical costs for the 12 month period preceding the date on which meters become inoperable. to the benefit of any such credit, rebate or refund, whether or not reflected on the utility company or alternate provider invoice, if and to the extent, if any, that (i) Landlord is required by law or utility requirement to pay or credit to any tenant or occupant of the Building (including Tenant) the amount of any such credit, rebate or refund, or (ii) Landlord is entitled to such credit, rebate or refund as the result of any overpayment by Landlord or miscalculation of Landlord’s electricity charges by the utility company or alternate provider. Upon Tenant’s request, Landlord shall provide Tenant with copies of Landlord’s bills from the utility company for purposes of allowing Tenant to confirm Landlord’s Rate and Landlord’s calculations of the charges payable by Tenant under this Article 14. In addition to the foregoing, Tenant shall reimburse Landlord for (a) Landlord’s reasonable actual out-of-pocket costs to read such meters and to calculate the amounts to be billed to Tenant hereunder, provided that the costs are commercially reasonable, and (b) the actual out-of-pocket cost of keeping the meter(s) and related equipment exclusively serving the Premises in good working order and repair (which may include calibration of the meters but not any replacement thereof the cost of which shall be borne by Landlord), provided that the costs of any contractors retained by Landlord to perform such repair, maintenance and calibration is reasonable. Notwithstanding anything to the contrary contained herein, where more than one (1) Tenant Meter measures the service of Tenant in the Building, such Tenant Meters shall be connected to a so-called “totalizer” or “coincidental demand meter” so that Tenant’s aggregate demand may be measured and billed to Tenant with the same effect as if Tenant’s aggregate demand for the entire Premises were measured by a single Tenant Meter. The costs incurred in connection with the installation of, and connection of Tenant’s submeters to, such totalizer or coincidental demand meter shall be borne by Tenant. In addition, Tenant shall have the right, at its sole cost and expense, upon reasonable advance written notice to Landlord and in accordance with the provisions of Article 8 hereof (including, without limitation, Landlord’s reasonable approval of plans and specifications), to wire of some or all of Tenant’s Meters to the meter or meters installed by the public utility or alternate provider to measure the Building’s electricity consumption and demand, thus enabling the peak demand measured by such Tenant Meters on a coincidental basis to be measured at the same time that the Building’s peak demand is measured by the public utility or alternate provider. Tenant shall pay to Landlord, as Additional Rent, electric charges (Landlord the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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, foregoing amounts within thirty (30) daysdays after Landlord bills Tenant therefor, 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 thereon, the amount of such adjustment bills shall be determinedrendered on a monthly basis.
(a) If, based at any time during the Term, Landlord is prohibited by Legal Requirements or the requirements of the New York State Public Service Commission from supplying and charging for electricity on standard practicesa submetered basis strictly in accordance with the provisions of Section 14.01, including by an independent electrical consultant selected reason of the imposition of any tax, tariff or other cost on Landlord which under applicable Legal Requirements Landlord is not permitted to pass through in full on the basis contemplated by Landlord. Tenant Section 14.01, then, at Tenant’s option (subject to the provisions of the last sentence of Section 14.05), Landlord shall permit said consultant to have access supply electricity to the Premises (i) on a direct meter basis pursuant to Section 14.02(e) unless prohibited by Legal Requirements or the requirements of the New York State Public Service Commission from doing so, or (ii) on a rent inclusion basis pursuant to Section 14.02(b).
(b) (i) Except as expressly provided in Section 14.01, during any period in which electricity is to be supplied to the Premises on a rent inclusion basis, Landlord shall furnish electricity to the Premises (or such portion of Tenant’s electric consumption, as the case may be) on the basis that Tenant’s consumption (KW and KWHR) of electricity shall be measured by electric survey made from time to time by Landlord’s consultant. Pending an initial survey made by Landlord’s consultant, effective as of the date when Landlord has commenced furnishing electricity to Tenant pursuant to this Section 14.02(b) (with suitable proration for any period of less than a full calendar month), the Fixed Rent (with respect to the portion of the Premises so affected) shall be increased by an amount (the “Initial Charge”) equal to the average of the prior twelve (12) months’ charges for submetered electric. After completion of the electrical survey made by Landlord’s consultant of Tenant’s consumption (KW and KWHR) of electricity, said consultant shall apply one hundred (100%) percent of Landlord’s Rate to arrive at an amount (herein called the “Actual Charge”) and the Fixed Rent shall be appropriately adjusted (increased or decreased) retroactively to reflect any amount by which the Actual Charge exceeds the Initial Charge or the Initial Charge exceeds the Actual Charge, as the case may be. If the Actual Charge exceeds the Initial Charge, Tenant shall pay that portion of such amount which would have been paid to the date of the determination of the Actual Charge within thirty (30) days after being billed therefor; if the Initial Charge exceeds the Actual Charge, Tenant shall be entitled to a credit against installments of the Actual Charge thereafter coming due in an amount equal to the overpayments made by Tenant up to the date of the determination of the Actual Charge. Thereafter and from time to time during the Term, Landlord may cause additional surveys of Tenant’s electrical facilities usage to be made by Landlord’s consultant, the commercially reasonable cost of which (A) shall be shared by Tenant and Landlord equally in the case of the first survey done in each twelve (12) month period and (B) shall be borne solely by Landlord for each survey thereafter, and any increase or decrease in the foregoing purpose Actual Charge resulting from such subsequent survey shall be effective as of the date such survey is conducted. Tenant from time to time (but not more frequently than twice during each twelve (12) month period occurring during the Term) may require Landlord to have a survey made of Tenant’s electrical usage (which survey Landlord shall use reasonable efforts to have performed within thirty (30) days after its receipt of notice from Tenant requiring such survey to be performed), and the commercially reasonable fees of Landlord’s consultant making such survey(s) at all reasonable times. The fee of such consultant Tenant’s request shall be paid by Tenant. If any survey requested by Tenant unless such consultant finds shall determine that there has been an increase or decrease in Tenant’s use does not justify an increase greater than 2.5% usage of electricity, then effective as of the Additional Rentdate such survey is conducted, in which case the fee then current Actual Charge to Tenant by reason of the furnishing of electricity to Tenant shall be paid by Landlord. When the amount of increased or decreased in accordance with such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 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 Rentsurvey determination.
Appears in 1 contract
Sources: Lease (Citigroup Inc)
Electricity. (a) (i) As of the Commencement Date16.01 The Building is equipped with risers, Landlord shall feeders and wiring to furnish electrical electric service to the Premises of such quality and capacity in order to provide the Demised Premises with no fewer a capacity of not less than five six (5) ▇▇▇▇▇ per rentable square foot. Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (56) ▇▇▇▇▇ per rentable square foot demand load (exclusive of the Building's heat, ventilation and air-conditioning system).
16.02 Any additional risers, feeders or other equipment or service proper or necessary to supply Tenant's electrical requirements, will, upon written request of Tenant, be installed by Landlord, at the sole cost and expense of Tenant, if in Landlord's reasonable judgment, the same are necessary and will not cause permanent damage or injury to the Building or the Demised Premises or cause or create a dangerous or hazardous condition or entail excessive or unreasonable alterations, repairs or expense or interfere with or disturb other tenants or occupants. Rigid conduit only will be allowed.
16.03 Tenant shall pay, at the rate charged to Landlord for electricity by the utility company furnishing electricity to the floor of the Building on which the Demised Premises are located (hereinafter referred to as the "Premises Floor"), its pro rata share (hereinafter referred to as "Tenant's Pro Rata Share") of the electricity consumed in the Demised Premises (exclusive of the Building's heat, ventilation and air-conditioning system), as shown on the meter serving the Premises Floor. Tenant's Pro Rata share shall be expressed as a percentage and shall be computed on the basis of a fraction, the numerator of which shall be the Multiplication Factor and the denominator of which shall be the total square foot area of the Premises and that Tenant willFloor occupied by tenants. Landlord, except for using the purpose of office cleaningformula set forth above, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordingly, if shall compute 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 's Pro Rata Share as of the PremisesCommencement Date. Landlord shall furnish recompute Tenant's Pro Rata Share after a statement of Landlord’s determination as to change in occupancy on the amount of the adjustmentPremises Floor occurs, and shall send Tenant notice thereof (hereinafter referred to as the same shall become binding upon the parties unless"Recomputation Notice"), 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 recomputation to come be retroactive to agreement, and, if Landlord and Tenant cannot agree thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be effective from the date of such adjustment, which agreement change in occupancy. Tenant's Pro Rata Share shall be reasonably payable by Tenant as additional rent within ten (10) days after the rendition by Landlord of bills therefor.
16.04 In the event that, at any time, and from time to time, Tenant or any other tenant of the Premises Floor (hereinafter referred to as the "Disputing Tenant") shall dispute the accuracy of its Pro Rata Share as so computed by Landlord, the Disputing Tenant shall have the right, at the Disputing Tenant's sole cost and expense, to make a survey (hereinafter referred to as the "Survey") of electrical usage in the space leased to all tenants of the Premises Floor using an independent electrical engineer (hereinafter referred to as the "Surveyor") acceptable to Tenantall tenants of the Premises Floor. Any adjustment The Surveyor shall compute the proportionate share of each of the tenants of the Premises Floor based on usage, provided, however, that the aggregate proportionate shares of all tenants of the Premises Floor shall equal 100%. The Survey shall be effective even if such supplementary agreement (in form reasonably approved conclusive and binding upon all tenants of the Premises Floor. Until completion of the first survey made pursuant to this Section 16.04 and receipt thereof by Tenant) is not executed and delivered. Pending the determination of the adjustment, Tenant shall continue to pay its Pro Rata Share as determined by Landlord, and Landlord shall not be required to Landlord adjust any amount so paid on the amount basis of such adjustment the first Survey. After completion of a Survey and receipt thereof by Tenant, all tenants of the Premises Floor shall, effective as specified in Landlord’s statementof the date of the Survey, and continuing thereafter until completion of a new Survey and receipt thereof by Tenant or receipt by Tenant of a Recomputation Notice, pay their Pro Rata Shares based on the Survey retroactively adjusted to the date of the Survey. Thereafter, if it is determined that Tenant has overpaid, Tenant shall receive a credit against Additional Rent cooperate with any Disputing Tenant and the Surveyor in the amount making of the overpaymentSurvey. In the event the tenants of the Premises Floor are unable to agree upon a Surveyor, said credit then, upon request of any Disputing Tenant, Landlord shall designate a Surveyor to make the Survey. In no event shall Landlord have any liability or responsibility with respect to the accuracy of any Survey or the fees of the Surveyor.
16.05 Landlord shall not in anywise be applied against liable or responsible to Tenant for any loss or damage or expense which Tenant may sustain or incur if either the next accruing installment(s) quantity or character of Additional Rentelectric service is changed or is no longer available or suitable for Tenant's requirements except for actual damages sustained by Tenant due to Landlord's or its agents' or contractors' willful acts or negligence.
16.06 In no event shall Tenant use or install any fixtures, equipment or machines the use of which in conjunction with other fixtures, equipment and machines in the Demised Premises would result in an overload of the electrical circuits servicing the Demised Premises.
16.07 Tenant covenants and agrees that at all times its use of electric current shall never exceed the service capacity set forth in Section 16.01 and the capacity of the then existing feeders to the Building or the risers or wiring installation, subject to the provisions of Section 16.
Appears in 1 contract
Electricity. (a) Subject to the provisions of this Article 9, Landlord will provide 600 amperes of 460 volt, 3-phase, 4-wire, AC electrical capacity of submetered electric power to the Premises (ithe "Basic Capacity"). Tenant covenants that Tenant's use and consumption of electric current shall not at any time exceed the Basic Capacity, nor exceed the capacity of any of the electrical facilities and installations in or otherwise serving or being used in the Premises. Tenant shall pay Landlord, 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) As In the event that Tenant's total power requirements at the Premises, based on an annual review of Tenant's consumption following the first anniversary of the Commencement Date, shall be less than the Basic Capacity, Tenant shall pay to Landlord an annual sum equal to the fee, if any, which Landlord is obligated to pay to the Electricity Provider (as defined in Section 9.1(d)), 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 $25.00 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 Basic Capacity, then Landlord shall furnish electrical service have the right to reduce the level of electric power supplied to the Premises to Tenant's actual power requirements as reasonably determined by Landlord.
(c) The calculations and determinations of the charges for electric energy consumed by Tenant shall be based on the readings of one or more submeters currently installed at the Premises, 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 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 quality and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square footpayment by Tenant. In addition, Tenant shall pay to Landlord, as Additional Rent, electric charges Rent (i) the “Electrical Inclusion Amount”) on account fees and expenses of Tenant’s consumption of Landlord's electrical energy contractor for services rendered by such contractor in the Premises the sum maintenance and repair of $101,355.00 per annum payable in equal monthly installments of $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 lightingsuch submeter(s), and equipment will not be in excess of five (5ii) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 thereon, the amount of such adjustment shall be determined, based any taxes imposed by any Governmental Authority on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be effective 's receipts from the date sale of such adjustment, which agreement shall be reasonably acceptable electricity to Tenant. Any adjustment shall be effective even if such supplementary agreement (In the event that more that one submeter is used to measure Tenant's consumption of electricity in form reasonably approved by Tenant) is not executed and delivered. Pending the determination of the adjustmentPremises, Tenant shall pay to Landlord be billed only on 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 basis of the overpayment"totalized" demand, said credit to be applied against the next accruing installment(s) of Additional Renti.e., as though a single meter were measuring such usage.
Appears in 1 contract
Electricity. (a) (i) As of the Commencement Date, Landlord Lessor shall furnish supply electrical service power to the Premises during the normal business hours as established by the Lessor, to a maximum of such quality four (4) watts per square foot, for which Lessee agrees to pay to Lessor six thousand six hundred dollars and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇ty-six cents ($6,600.96) per annum to be paid in equal monthly instalments of five hundred fifty dollars and eight cents ($550.08) in advance on the first day of each month during the term of this Lease. Furthermore Lessee agrees that its use of electrical current shall never exceed the capacity of the electrical wiring in and supplying the Premises. If the electrical consumption being used by Lessee in the Premises is greater than the capacity of the electrical wiring, or should Lessee use the Premises beyond normal business hours as established by the Lessor, the Lessor may, at its option, take whatever steps and make whatever changes Lessor considers appropriate to increase such capacity or provide such increased services, and any costs occasioned thereby shall be at Lessee’s sole expense, or Lessor may compel Lessee to use such consumption within the four (4) watt per square foot maximum. Lessor shall have the right, at anytime, to verify the connected load in the Premises, and if the connected load is greater than four (4) watts per square foot or if Lessee uses the connected load beyond normal business hours as establish▇▇ per rentable square foot. Tenant ▇▇ Lessor or if the cost of electricity is increased by the producers thereof, then Lessee shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy Lessor in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 respect of such adjustmentincreased cost or excess consumption an amount calculated at. the then current rate per watt, in which event the parties shall in good faith make reasonable attempts retroactive to come to agreement, and, if Landlord and Tenant cannot agree thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be effective from the date of such adjustmentincreased cost or consumption or to he date from which Lessor determines such increase to have occurred or such excess to have existed. Lessee agrees, which agreement as and when necessary, to replace at its expense any fluorescent tubes, bulbs or fixtures so as to keep the electrical system within the Premises in complete working order at all times. Any special wires and conduits for the Lessee’s special equipment shall be reasonably acceptable to Tenantsupplied and installed by the Lessee at its own expense. Any adjustment The obligation of the Lessor hereunder shall be effective even if such supplementary agreement (in form reasonably approved by Tenant) is not executed and delivered. Pending subject to any rules or regulations to the determination contrary 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 Rentauthority providing electricity or any other municipal or governmental authority.
Appears in 1 contract
Sources: Lease Agreement (Dynasty Gaming Inc)
Electricity. The Landlord covenants with the Tenant to furnish electricity to ------------ the Leased Premises (aexcept Leased Premises which have separate meters) (i) As for normal office use for lightning and for office equipment capable of operating from the Commencement Date, Landlord shall furnish electrical service circuits available to the Leased Premises and standard to the Building during hours to be determined by the Landlord (but to be at least the hours from 8:00 a.m. to 6:00 p.m. from Monday to Friday inclusive with the exception of holidays, Saturdays and Sundays) and during such quality other hours that the Tenant elects at its sole cost and capacity expense subject to governmental regulations; The amount of electricity consumed on the Leased Premises in order to provide excess of electricity required by the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square footTenant for normal office use shall be as determined by the Landlord acting reasonably or by a metering device installed by the Tenant at the Tenant's expense. The Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) Landlord for any such excess electricity on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $8,446.25demand. The Electric Inclusion Amount is based upon Landlord’s assumption that Tenant covenants to pay to the Landlord the Tenant’s initial electrical installation will not result in a total connected electrical load 's Proportionate Share of all electricity consumed on the Property (except the amounts recovered from and paid by tenants separately metered. In calculating electricity costs for lighting, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordinglyany Fiscal Period, if Tenant’s electricity consumption exceeds such criterialess than one hundred percent (100%) of Building is occupied by tenants, 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 then the amount of such adjustmentelectricity costs shall be deemed for the purposes of this Schedule to be increased to an amount equal to the like electricity costs which normally would be expected by the Landlord to have been incurred had such occupancy been one hundred percent (100%) during such entire period. The Landlord shall maintain and keep in repair the facilities required for the provision of the interior climate control, elevator (if installed in the Building), and other services referred to in sub-paragraph (a) and (c) of paragraph 3 of this Schedule in accordance with the standards of office buildings similar to the Building but reserves the right to stop the use of any of these facilities and the supply of the corresponding services when necessary by reason of accident or breakdown or during the making of repairs, alterations or improvements, in which event the parties reasonable judgment of the Landlord necessary or desirable to be made, until repairs, alterations or improvements shall in good faith make reasonable attempts to come to agreement, and, if Landlord and Tenant cannot agree thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical consultant selected by Landlord. Tenant shall permit said consultant to have access been completed to the Premises and Tenant’s electrical facilities for the foregoing purpose at all reasonable times. The fee of such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% satisfaction of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 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.
Appears in 1 contract
Electricity. (a) (i) As of the Commencement Date, Landlord shall redistribute or furnish electrical service electricity to or for the use of Tenant in the Premises for the operation of such quality Tenant's electrical systems and capacity equipment in order the Premises, at a level sufficient to provide the Premises with no fewer than five (5) accommodate a demand load of six ▇▇▇▇▇ of electricity per rentable square foot. Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable useable square foot of office space in the Premises and that Premises. An estimated charge for such electricity (the "Electrical Inclusion Factor") is included in Fixed Rent on a so-called "rent inclusion" basis; however, the value to Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”)such service may not be fully reflected in Fixed Rent. Accordingly, if Tenant agrees that following the commencement of Tenant’s electricity consumption 's ordinary business activities in the 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 on the basis set forth in the immediately preceding sentence. If Landlord's Consultant determines that the full value of the electrical service supplied to Tenant exceeds such criteriathe Electrical Inclusion Factor, the Electric Inclusion Amount shall as increased from time to time in accordance with this Section 16.1, then, upon notice to Tenant, Fixed Rent and the Electrical Inclusion Factor shall be equitably adjusted increased to reflect the resulting full value, on an annual basis, of such increased electrical usage by Tenant. Any 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, Fixed Rent 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which Electrical Inclusion Factor shall be effective from as of the date of such adjustmentthe increase in Tenant's electrical usage, which agreement as determined by the survey, and Tenant's liability therefor shall be reasonably acceptable retroactive to Tenantsuch date. Any adjustment shall be effective even if such supplementary agreement (in form reasonably approved by Tenant) is not executed and delivered. Pending the determination The computation of the adjustmentElectrical 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 receipts or income from the redistribution, furnishing, or sale of electricity to Tenant as provided for above (other than a general tax on corporate income not specific to the provision of electricity), whether based on the Electrical Inclusion Factor or any increase therein provided for above or otherwise, Tenant shall pay to reimburse Landlord the amount of for such adjustment as specified in Landlord’s statement. Thereaftertax, if it is determined that Tenant has overpaid, Tenant shall receive a credit against Additional Rent in and to the amount of the overpayment, said credit to be applied against the next accruing installment(s) of Additional Rentextent permitted by law.
Appears in 1 contract
Sources: Lease (Greenhill & Co Inc)
Electricity. (a) Tenant shall pay and be responsible for, as additional rent (“Additional Rent” and, collectively with the Minimum Rent, the “Rent”) hereunder, all electricity consumed within Tenant’s Premises (the “Premises Electric”), and Tenant’s Complex Common Proportionate Share of the Complex Common Electric (together, the Premises Electric and Tenant’s Complex Common Proportionate Share of the Complex Common Electric, being the “Tenant Electric”) which is the cost of all electricity and gas consumed in the Premises, as well as Tenant’s share of the electric and gas attributable to the Complex Common Areas, as defined in the Basic Lease Provisions as follows:
(i) As The usable area of the Commencement Date, Landlord Premises shall furnish electrical service be separately metered for electricity. Tenant Electric shall be equal to the Premises cost of such quality and capacity in order to provide electricity for the Premises as determined by such meters and Tenant’s Complex Common Proportionate Share of the electric servicing the Complex Common Areas, which are the Cafeteria, the central/core area connecting the three buildings of the Complex internally (the “HUB”), exterior garage, parking, and drive areas, lit monument signs servicing the Complex, the on-site Complex management office, and the fitness center. All electricity and gas costs shall be charged to Tenant at Landlord’s actual costs with no fewer than five (5) ▇▇▇▇▇ per rentable square foot. Tenant shall pay up, billing fee, service fee or other sum payable to Landlord, as Additional Rent, electric charges Landlord or any third party.
(the “Electrical Inclusion Amount”ii) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 Subject to the amount provisions of the adjustmentthis Section 5.02, Tenant Electric shall be calculated monthly by Landlord and the same shall become binding upon the parties unless, is payable within thirty (30) daysdays of invoicing.
(b) Notwithstanding the foregoing, Landlord may, at its option, from time to time, but no more frequently than once every twelve (12) months, estimate the monthly cost for Tenant notifies Landlord that it disputes the amount of Electric, and ▇▇▇▇ Tenant for 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 thereon, the amount of estimated monthly amount. All such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant estimated amounts shall be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% together with the monthly payment of the Additional Minimum Monthly Rent, in which case and Landlord shall annually, on or before March 1, deliver to Tenant a statement indicating the fee shall be paid by Landlord. When the actual amount of Tenant Electric. If such adjustment is so determined, statement reveals that any additional payments are due to Landlord and on account of Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 determination of the adjustmentElectric for that period, Tenant shall pay such deficiency to Landlord at that time without further demand. If the amount of such adjustment as specified in Landlord’s statement. Thereafter, if it is determined statement reveals that Tenant has overpaidoverpaid Tenant Electric for such period, Landlord shall credit such overpayment against the current monthly Minimum Monthly Rent and/or the current monthly estimate of Tenant shall receive a credit against Additional Rent in Electric payment then due or refund such amount promptly if at the amount end of the overpaymentTerm.
(c) Although Minimum Rent is not due for the first ten (10) months following the Commencement Date, said credit Tenant’s obligations to be applied against pay the next accruing installment(s) cost of Additional Rentall Tenant Electric shall commence on the Commencement Date.
Appears in 1 contract
Electricity. (a) (i) As Section 13.1. Tenant shall at all times comply with the rules, regulations, terms and conditions applicable to service, equipment, wiring and requirements of the Commencement Date, Landlord shall furnish electrical service public utility supplying electricity to the Premises Building. The risers and other electrical installations serving the Tenth Floor Space shall be capable of such quality and capacity in order to provide supplying on a demand load basis eight (8) ▇▇▇▇▇ of electricity per usable square foot of the Tenth Floor Space at the electrical closets serving the Premises with no fewer than five (5exclusive of the electricity required for HVAC). The risers and other electrical installations serving the Seventh Floor Space shall be capable of supplying on a demand load basis seven (7) ▇▇▇▇▇ of electricity per rentable usable square footfoot of the Seventh Floor Space (exclusive of the electricity required for HVAC); provided, however, that by notice given by Tenant to Landlord not later than sixty (60) days after the Seventh Floor Space Commencement Date, Tenant shall have the right with respect to the Seventh Floor Space to increase such supplied wattage to eight (8) ▇▇▇▇▇. If Tenant elects to so increase such wattage with respect to the Seventh Floor Space, then Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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) daysdays after demand therefor, an amount equal to Sixty-Five Thousand Dollars ($65,000) to provide such additional wattage at the electrical closet serving the Seventh Floor Space. Tenant shall not use any electrical equipment which, in Landlord's reasonable judgment, would exceed such capacity or interfere with the electrical service to other tenants of the Building. In the event that, in Landlord's sole judgment, Tenant's electrical requirements necessitate installation of an additional riser, risers or other proper and necessary equipment, Landlord shall so notify Tenant of same. Within ten (10) Business Days after receipt of such notice, Tenant notifies Landlord shall either cease such use of such additional electricity or shall request that it disputes additional electrical capacity (specifying the amount requested) be made available to Tenant. Landlord, in Landlord's sole judgment shall determine whether to make available such additional electrical capacity to Tenant and the amount of such adjustmentadditional electrical capacity to be made available. If Landlord shall agree to make available additional electrical capacity and the same necessitates installation of an additional riser, in which event the parties shall in good faith make reasonable attempts to come to agreementrisers or other proper and necessary equipment, andincluding, if Landlord and Tenant cannot agree thereonwithout limitation, any switchgear, the amount of such adjustment same shall be determined, based on standard practices, by an independent electrical consultant selected installed by Landlord. Any such installation shall be made at Tenant's sole cost and expense, and shall be chargeable and collectible as additional rent and paid within thirty (30) days after the rendition of a ▇▇▇▇ to Tenant therefor. Landlord shall permit said consultant not be liable in any way to have access Tenant for any failure or defect in the supply or character of electric service furnished to the Premises by reason of any requirement, act or omission of the utility serving the Building or for any other reason not attributable to the negligence of Landlord, whether electricity is provided by public or private utility or by any electricity generation system owned and Tenant’s electrical facilities for operated by Landlord.
Section 13.2. Tenant shall obtain electric energy directly from the foregoing purpose at all reasonable timespublic utility furnishing electric service to the Building. The fee costs of such consultant service shall be paid by Tenant unless directly to such consultant finds that Tenant’s use does not justify an increase greater than 2.5% public utility. Such electricity may be furnished to Tenant by means of the Additional Rentexisting electrical facilities serving the Premises, in at no charge, to the extent the same are available, suitable and safe for such purposes. All meters and all additional panel boards, feeders, risers, wiring and other conductors and equipment which case the fee may be required to obtain electricity shall be paid installed by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be effective from the date of such adjustment, which agreement shall be reasonably acceptable to at Tenant. 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's expense.
Appears in 1 contract
Sources: Lease Agreement (Liveperson Inc)
Electricity. (a) (i) As The parties hereby acknowledge that the electrical outlets and lighting in the Premises to be submetered from the balance of electrical energy consumed in the Building. Effective as of the Commencement Date, Tenant shall pay to Landlord as Additional Rent the cost of all electricity consumed within the Premises and any supplemental HVAC units installed by Tenant at the rates charged to Landlord (collectively, “Tenant Electric Charges”) in accordance with this Section 4.5.2.
(b) (i) Prior to the Commencement Date for the period from the Commencement Date through December 31st of the calendar year in which the Commencement Date occurs and (ii) prior to January 1st for each succeeding calendar year thereafter during the Term, Landlord shall provide Tenant with a good faith estimate of Tenant Electric Charges (“Estimated Electric Charges”) for the balance of the calendar year in which the Commencement Date occurs, and thereafter for each upcoming calendar year. Tenant shall pay, as Tenant Electric Charges, 100% of the Estimated Electric Charges in equal monthly installments on the first day of each month during the Term, together with the Base Rent, in advance, without notice or demand, subject to apportionment for any portion of a month, if applicable, pursuant to this Section 4.5.2(b).
(c) By April 1 of each calendar year of the Term (or of the calendar year following the expiration of the Term in the case of the last calendar year or portion thereof of the Term) or as soon thereafter as practicable, Landlord shall furnish to Tenant a statement of Landlord’s actual electrical service charges for the Tenant Electric Charges for the previous calendar year which shall provide reasonable detail as to the Premises kilowatt hours consumed and the cost of such quality electricity incurred by Landlord (including energy charges, demand charges, surcharges, taxes, fuel adjustment charges and capacity other factors used by the utility company or other provider in order computing its charges to provide the Premises with no fewer than five (5) Landlord), without ▇▇▇▇▇ per rentable square foot-up, during such period (the “Actual Electric Charges”). Tenant shall be entitled to the benefit of any discounts or bulk rates actually received by Landlord for the electrical service constituting Tenant Electric Charges. If, for any calendar year (or portion thereof in the case of the initial period) Tenant’s payment based on the Estimated Electric Charges, is in excess of the Actual Electric Charges, then Landlord shall refund to Tenant any overpayment due hereunder within thirty (30) days of Landlord’s determination of the amount of such refund. Likewise, Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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) daysdays of invoicing, Tenant notifies Landlord that it disputes any underpayment with respect to the amount prior year. The obligations 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 thereonpursuant to this Section 4.5.2(c) with respect to underpayments and overpayments shall survive the termination of this Lease.
(d) Any electrical usage by Tenant for any computer rooms, the amount of such adjustment supplemental HVAC units, or other similar improvements shall be determinedsubmetered, based on standard practices, by an independent electrical 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 such consultant shall be paid included within the definition of Tenant Electric Charges, and shall be payable by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% in accordance with the provisions of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 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 Rentthis Section 4.5.2.
Appears in 1 contract
Sources: Lease (Liquid Holdings Group, Inc.)
Electricity. (a) (i) As of Throughout the Commencement DateTerm, 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 footagrees to redistribute electrical energy to the Premises (not exceeding the present electrical capacity at the Premises), upon the following terms and conditions:
(i) Tenant shall pay for such electrical energy as set forth in the FUNDAMENTAL LEASE PROVISIONS (“Tenant Electric”), subject to subsection (3) below. ▇▇▇▇▇▇ agrees that Landlord shall have the right at any time during the Term, at Landlord’s expense, to cause the Premises to be surveyed by an independent electrical engineering consultant selected by Landlord and reasonably acceptable to Tenant to produce a survey of the electric power demand of all electric lighting fixtures and equipment of Tenant used in the Premises to determine the average monthly electric consumption thereof. The findings of said consultant as to the average monthly electric consumption of Tenant shall be conclusive and binding on the parties hereto. After said consultant has submitted its report, Tenant shall pay to Landlord, within ten (10) days after demand therefore by Landlord, the amount determined by said consultant as owing during the months in which said survey was being conducted and, thereafter, on the first day of every month, in advance, the amount set forth as the monthly consumption in said report. If the survey indicates that Tenant’s Electric payment was in excess of its monthly usage set forth in the survey, Landlord shall credit the cumulative balance of such over payments to Tenant’s future payments of monthly Tenant Electric charges. All payments made hereunder shall be treated as Additional Rent. Tenant agrees that the electric supply may be interrupted for inspection, repairs, replacement and in emergencies, as reasonably required by Landlord or Governmental Authorities. In the event that there shall be an increase or decrease in the rate schedule of the public utility for the supply of electric charges energy to the Building or the imposition of any tax with respect to such electric energy or increase in such tax following the Commencement Date, the Tenant Electric set forth in the Fundamental Lease Provisions may be equitably adjusted by Landlord upon written notice to Tenant to reflect the resulting increase, decrease, or tax.
(ii) Tenant covenants that its use of electricity in the “Electrical Inclusion Amount”Premises shall be limited to and for the operation of (a) on account the Building Standard lighting, and (b) modern office equipment, including for example, personal computers, copying and fax machines, internet routers and other small office equipment. Tenant shall notify Landlord, in advance, if any of Tenant has any specialized equipment which may require electric capacity in excess of typical small office equipment, and Landlord reserves the right to require Tenant pay for the cost of separately metering the Premises (or portion thereof). Tenant shall not substantially increase its electricity use through the addition of office equipment or machines without first obtaining the written consent of Landlord.
(iii) In no event shall Landlord be required or obligated to increase the electrical capacity of any portion of the Building’s system, or to provide any additional wiring or capacity to meet Tenant’s consumption additional requirements, if any, beyond that which was servicing the Premises at the Commencement Date. Tenant’s use of electrical electric energy in the Premises shall not at any time exceed the sum capacity of $101,355.00 per annum payable in equal monthly installments any of $8,446.25. The Electric Inclusion Amount is based upon Landlord’s assumption that Tenant’s initial the electrical installation will not result in a total connected electrical load for lighting, conductors and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). 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 or serving the Premises. Landlord Tenant shall furnish a statement of Landlord’s determination as make no alteration to the amount existing electrical equipment or connect any fixtures, appliances, or equipment in addition to the equipment permitted in this Section 15.2(a) without the prior written consent of the adjustmentLandlord in each instance. Should Landlord grant such consent, all additional risers or other equipment required therefore shall be provided by Landlord 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant cost thereof shall be paid by Tenant unless upon Landlord’s demand. As a condition to granting such consultant finds that Tenant’s use does not justify consent, Landlord may require an increase greater than 2.5% in the Additional Rent by an amount which will reflect the cost of the additional equipment and service to be furnished by Landlord. If Landlord and Tenant agree to such increase the Additional RentRent increase shall be determined by an independent electrical engineer, in which case the fee to be selected by Landlord and whose services shall be paid for by LandlordTenant.
(iv) Landlord reserves the right to discontinue furnishing electric energy to Tenant at any time if directed to do so by any public utility company or Governmental Authority upon not less than one hundred twenty (120) days written notice to Tenant (or such shorter period of time as Landlord may be so directed). When the amount If Landlord exercises such right of such adjustment is so determinedtermination, Landlord this Lease shall continue in full force and effect and Tenant shall execute a supplementary agreement then obtain such electric energy by means of the then-existing Building system feeders, risers, and wiring to reflect the extent that the same are available, suitable, and safe for such adjustmentpurposes and Tenant will no longer be liable for Tenant Electric for that portion of the Premises which has metered electric. All meters and additional panel boards, feeders, risers, wiring, and other conductors and equipment which may be required to obtain electric energy from the public utility company shall be effective from the date of such adjustment, which agreement installed and maintained by Tenant at its sole expense.
(v) Landlord shall not be reasonably acceptable liable in any way to Tenant. Any adjustment shall be effective even , Tenant’s agents, servants, employees, invitees or licensees, for any loss, damage, or expense which Tenant, Tenant’s agents, servants, employees, invitees or licensees, may sustain or incur as a result of any failure, defect, or change in the quantity or character of electricity furnished to the Premises or if such supplementary agreement (in form reasonably approved by quantity or character of electricity furnished to the Premises is no longer available or suitable for Tenant) is not executed and delivered. Pending the determination ’s requirements or due to any cessation, diminution or interruption of the adjustment, supply thereof. The failure of Landlord to furnish any service hereunder shall not be construed as a constructive eviction of Tenant and shall pay not excuse Tenant from failing to perform any of its obligations hereunder and shall not give Tenant any claims against Landlord the amount of for damages for failure to furnish 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 Rentservice.
Appears in 1 contract
Electricity. (aA) If Tenant requires electric current for use in the Premises in excess of the amount required for general business office use and if in Landlord’s reasonable judgment, (i) As Landlord’s facilities are inadequate for such excess requirements or (ii) such excess use shall result in an additional burden on the Building air conditioning system and additional cost to Landlord on account thereof then, as the case may be, (x) Landlord, at Tenant’s sole cost and expense, will furnish and install such additional wire, conduits, feeders, switchboards and equipment as may be required to supply such additional requirements of Tenant, provided that the Commencement Datesame shall be permitted by law and applicable insurance requirements and shall not cause damage to the Building or the Premises or cause or create a dangerous or hazardous condition, or (y) Tenant shall reimburse Landlord shall for such additional cost, as aforesaid.
(B) Tenant agrees that it will not make any material alteration or addition to the electrical equipment in the Premises without the prior written consent of Landlord, which consent will not be unreasonably withheld.
(C) Landlord will furnish electrical service electricity to the Premises of such quality through presently installed electrical facilities for Tenant’s reasonable use for lighting, electrical appliances and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square footequipment. Tenant shall pay to Landlordpay, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 56,176.50 per annum payable year ($1.50/rentable square foot/year) in equal monthly installments of $8,446.25with Annual Fixed Rent, but in any event, beginning on the Lease Commencement Date. 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 lightingSaid Additional Rent shall be subject to proportionate increase(s), and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot of the Premises and that Tenant will, except for the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordingly, if Tenant’s electricity consumption exceeds such criteria, the Electric Inclusion Amount shall from time to time be equitably adjusted and at any time throughout the Term, to reflect the resulting increase extent that the rate charged to Landlord by the utility company providing electricity to the Building is increased. Tenant agrees that, at Landlord’s sole option, an electrical consultant, selected by Landlord, may make periodic surveys of the electrical equipment 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 In the amount of the adjustment, and the same shall become binding upon the parties unless, within thirty (30event such survey(s) 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 thereon, the amount of such adjustment shall be determined, based on standard practices, by an independent electrical 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 such consultant shall be paid by Tenant unless such consultant finds indicate that Tenant’s use does not justify an increase of electricity is greater than 2.5% of or less than $1.50 per rentable square foot, the Additional Rent, in which case the fee electricity charge shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement to reflect such adjustment, which shall be 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 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 Rentadjusted accordingly.
Appears in 1 contract
Sources: Lease Agreement (Hubspot Inc)
Electricity. (a) (i) As 10.1 The Tenant shall be liable for the payment to the Landlord of a monthly amount on or before the first day of every month during the currency of this agreement in respect of the Commencement Dateconsumption of electric current including electric power, Landlord shall furnish electrical service which amount will be equal to the Premises of such quality and capacity in order to provide the Premises with no fewer than five (5) ▇▇▇▇▇ per rentable square foot. Tenant shall pay to Landlord, as Additional Rent, electric charges (the “Electrical Inclusion Amount”) on account of Tenant’s consumption of electrical energy in the Premises the sum of $101,355.00 per annum payable in equal monthly installments of $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, and equipment will not be in excess of five (5) ▇▇▇▇▇ per rentable square foot aggregate of the Premises and that Tenant will, except for following two amounts which will be calculated at the purpose of office cleaning, use electrical energy only from 8:00 A.M. to 6 P.M., Monday through Friday, and 8 A.M. to 12 P.M. on Saturdays (“Normal Business Hours”). Accordingly, if Tenant’s standard commercial rate per electricity consumption exceeds such criteria, the Electric Inclusion Amount shall unit from time to time and will include any increase from time to time.
10.1.1 The amount of electricity used in the premises as indicated by the reading of the sub-meter, which the Landlord will be equitably adjusted entitled to reflect install to measure the resulting increase units of electric current including electric power consumed on or in respect of the premises. The reading of that meter will be accepted as correct by the parties unless proved by the Tenant to be wrong. If separate sub-meters are installed at any time during this Lease (which installation shall be entirely at the discretion of the Landlord), the Tenant shall also be liable for and shall on demand pay the basic and service charges in respect of the services so mentioned as supplied to the premise during the period of this Lease (which shall include a reasonable service charge for such usesub-meters); and INITIAL HERE [ILLEGIBLE] Fedsure Properties (Pty) Ltd. Page 6 Revised Version - 25 June 1999
10.1.2 A proportionate share, calculated on a pro-rata rentable area basis as stipulated in Section 8 of the Schedule, of the amount payable by the Landlord for electric current including electric power in respect of common area which latter amount will be calculated monthly from a reading of the main electricity meter of the building which reading will be accepted by the parties as correct unless proved by the Tenant to be wrong.
10.2 Should the Landlord not install a separate sub-meter in respect of the premises as contemplated in 10.1.1 then the Tenant will be liable for payment of a pro rata amount as determined in Section 8 of the Schedule of all electricity consumed in the building excluding what is paid for by the Tenants whose premises have sub-meters. In additionThe Tenant's share of such consumption will be in proportion to such consumption as the area of the Tenant's premises bear to the total area of the building including the common area, less the areas of the premises which have sub-meters. The total electricity consumption of the building will be ascertained from a reading of the main meter(s) installed to meter the consumption of electricity in the building. The reading on said meter will be accepted as correct, unless it is proved by the Tenant to be wrong.
10.3 The Tenant shall pay each and every monthly amount due by the Tenant in terms of paragraph 10.1 or 10.2, as the case may be, within seven (7) days of the date on which a monthly electricity account, which may form part of the rental statement, is rendered to the Tenant by the Landlord specifying the amount due by the Tenant for electricity. Should the Tenant fail to pay the electricity account by due date, then without prejudice to any other rights it may have, the Landlord shall be entitled to terminate the supply of electricity current to the premises and the Landlord shall not be liable for any consequent damages or losses howsoever arising or of any nature whatsoever sustained by the Tenant, as a result thereof notwithstanding that the Landlord or its agents or employees may have acted negligently.
10.4 Should the right electrical equipment in unmetered leased premises, in the opinion of the Landlord, lead or be likely to conduct a periodic survey of Tenant’s actual electrical usage and lead to abnormal or excessive electricity consumption, the Landlord will be entitled to increase the Electric Inclusion Amount if amount payable by the survey indicates Tenant for electricity after consultation with the Tenant’s usage of electricity exceeds Tenant with regard to the cost of $2.50 per rentable square feet amount of the Premisesadjustment. Landlord shall furnish a statement of Landlord’s determination Failing agreement as to the amount of the adjustmentincrease, and the same Landlord shall become binding upon be entitled to install a sub-meter at the parties unless, within thirty (30) days, expense of the Tenant notifies Landlord that it disputes to measure the amount units of such adjustmentelectricity consumed on the premises, in which event the parties shall Tenant will be liable for the cost of electricity in good faith make reasonable attempts to come to agreement, and, if Landlord and Tenant cannot agree thereon, accordance with the amount provisions of such adjustment shall be determined, based on standard practices, by an independent electrical consultant selected by Landlord. 10.1.
10.5 The Tenant shall permit said consultant to have access not alter, interfere with or overload the electrical, lighting or heating installations in the premises;
10.6 The Tenant shall notify the Landlord should the electrical current to the Premises and Tenant’s electrical facilities for the foregoing purpose at all reasonable times. The fee of such consultant shall premises cease or become defective or be paid by Tenant unless such consultant finds that Tenant’s use does not justify an increase greater than 2.5% of the Additional Rent, in which case the fee shall be paid by Landlord. When the amount of such adjustment is so determined, Landlord and Tenant shall execute a supplementary agreement interrupted.
10.7 If any dispute arises as to reflect such adjustment, which shall be 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 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 overpaymentTenant's liability for any electricity charges, said credit the onus of proof shall be on the Tenant.
10.8 The readings on the meter referred to in this clause 10 shall be applied against carried out by an independent recognised meter reading agency appointed by the next accruing installment(s) Landlord from time to time during the currency of Additional Rentthis Lease.
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Sources: Lease Agreement (Colorsmart Com Inc)