Escalation Rent. Escalation Rent shall be paid monthly on an estimated basis, with subsequent annual reconciliation, in accordance with the following procedures:
Escalation Rent. (a) Tenant shall continue to pay the Escalation Rent applicable to the Original Premises pursuant to the terms and conditions of Article 3 the Lease (as unamended by this Agreement).
Escalation Rent. Tenant’s Percentage Share of the total dollar increase, if any, in Operating Expenses allocable to each calendar year, or part thereof, after the Operating Expense Base Year, over the amount of Base Operating Expenses, and Tenant’s Percentage Share of the total dollar increase, if any, in Real Property Taxes allocable to each tax fiscal year, or part thereof, after the Tax Base Year, over the Base Real Property Taxes.
Escalation Rent. Tenant’s Proportionate Share of the total dollar increase for the applicable calendar year, if any, in (a) Operating Expenses allocable to such calendar year, or part thereof, after the Base Year, over the amount of Base Operating Expenses, and (b) except as provided in Section 5.8 of this Lease, Real Property Taxes allocable to the tax year or years occurring in each such calendar year, or part thereof, after the Base Year, over the Base Real Property Taxes. If the Building or Project is less than one hundred percent (100%) occupied during any part of any year (including the Base Year), Landlord shall make an appropriate adjustment of the variable components of Operating Expenses for that year, as reasonably determined by Landlord using sound commercial real estate accounting and management principles, to determine the amount of Operating Expenses that would have been incurred during such year if the Building or the Project had been one hundred percent (100%) occupied during the entire year. This amount shall be considered to have been the amount of Operating Expenses for that year. For purposes hereof, “variable components” include only those component expenses that are affected by variations in occupancy levels.
Escalation Rent. 10 SECTION 6. USE................................................................11 SECTION 7. SERVICES...........................................................11 SECTION 8. ALTERATIONS........................................................12 SECTION 9. REPAIRS; LANDLORD'S RESERVATION OF RIGHTS..........................12 SECTION 10.
Escalation Rent. In addition to the Base Rent, Sub-Sub-subtenant covenants and agrees to pay to Sub-Sub-sublandlord commencing on the Rent Commencement Date, an amount (collectively, “Escalation Rent”) equal to: (i) the Tax Escalation Payment (as hereinafter defined) plus (ii) the Operating Expense Escalation Payment (as hereinafter defined) plus (iii) the BID Escalation Payment (as hereinafter defined). Escalation Rent shall be payable by Sub-Sub-subtenant to Sub-Sub-sublandlord in the same manner as the same is payable by Sub-Sub-sublandlord to Sub-Sublandlord under Article 3 of the Sub-Sublease; except that Sub-Sub-subtenant shall, upon receipt of written notice or an invoice therefor from Sub-Sub-sublandlord, pay all installments of Escalation Rent directly to Sub-Sub-sublandlord at least two (2) Business Days prior to the respective due dates under the Sub-Sublease for the corresponding payments of such Escalation Rent. Escalation Rent shall be prorated, if necessary, to correspond with that portion of a Tax Year (as defined in the Lease) or an Operating Expense Year (as defined in the Lease) occurring during the Term. Promptly following its receipt of any Estimated Tax Statement pursuant to Section 4.02.B(ii) of the Lease, Estimated BID Statement pursuant to Section 4.02.D(ii) of the Lease and/or Estimated Operating Expense Statement pursuant to Section 4.03.B(ii) of the Lease or of any Tax Statement pursuant to Section 4.02.B(iii) of the Lease, BID Statement pursuant to Section 4.02.D(iii) of the Lease and/or Operating Expense Statement pursuant to Section 4.03.B(iii) of the Lease, Sub-Sub-sublandlord shall calculate the Escalation
Escalation Rent. (1) In addition to Fixed Rent, Tenant covenants and agrees to pay to Landlord, from and after the Sublet Space Commencement Date, an amount ("Escalation Rent") equal to Tenant's Share of Tenant's Proportionate Share of any Increase (as said term is defined in the Lease) in Taxes and Operating Expenses payable by Landlord (as "Tenant" under the Lease) with respect to each Year of the Term.
Escalation Rent. In addition to Fixed Rent, Subtenant covenants and agrees to pay to Sublandlord, with respect to each calendar year of the Term from and after the Sublet Space Commencement Date, an amount ("Escalation Rent") equal to Subtenant's Proportionate Share of “Tenant's Proportionate Share of Increase” (as such term is defined in the Lease) applied to each of “Taxes” and “Operating Expenses” (as such terms are defined in the Lease) above, (i) with respect to Taxes, the increase in Taxes for any calendar year in excess of the Base Taxes, and (ii) with respect to Operating Expenses, the increase in Operating Expense above a base calendar year of 2005. Back to Contents
Escalation Rent. 5 5. Use..................................................................................8
Escalation Rent. (a) Tenant shall pay to Landlord as "Escalation Rent" for the Premises, during each full or partial calendar year during the Term, (i) Tenant's Percentage Share of all Building Operating Expenses for such year, plus (ii) Tenant's Percentage Share of all Building Tax Expenses for such year. Escalation Rent shall be paid monthly on an estimated basis, with subsequent annual reconciliation, in accordance with the procedures set forth in this Section 4. Tenant acknowledges that this Lease is what is commonly referred to as a "triple net" lease, and that Tenant will be responsible for its Percentage Share of all Building Operating Expenses and Building Tax Expenses, without reference to any Base Year concept.
