Common use of Excess Rental Clause in Contracts

Excess Rental. If in connection with any assignment (or sublease or all or substantially all of the Premises), Tenant receives rent or other monetary consideration, either initially or over the term of the assignment, in excess of the Rent called for hereunder after appropriate adjustments to assure that all other payments called for hereunder and out-of-pocket expenditures, operating costs or concessions incurred by Tenant in connection with such assignment (or sublease or all or substantially all of the Premises) are appropriately taken into account, Tenant shall pay to the Port, as Additional Rent hereunder, fifty percent (50%) of the excess of each such payment of rent or other consideration received by Tenant after its receipt.

Appears in 2 contracts

Sources: Ground Lease Agreement, Ground Lease Agreement

Excess Rental. If in connection with pursuant to any assignment (or sublease or all or substantially all of the Premises)sublease, Tenant receives rent or other monetary considerationrent, either initially or over the term of the assignmentassignment or sublease, in excess of the Rent called for hereunder hereunder, or in the case of this sublease of a portion of the Premises in excess of such Rent fairly allocable to such portion, after appropriate adjustments to assure that all other payments called for hereunder and out-of-pocket expenditures, operating costs or concessions incurred by Tenant in connection with such assignment (or sublease or all or substantially all of the Premises) are appropriately taken into accountaccount and deducting Tenant's cost of subletting, including improvements and commissions, Tenant shall pay to the PortLandlord, as Additional Rent hereunder, fifty percent (50%) of the excess of each such payment of rent or other consideration received by Tenant after its receipt.

Appears in 1 contract

Sources: Lease Agreement (Microvision Inc)