New Lease Commission Clause Samples
New Lease Commission. For each Property for which Manager serves as leasing agent, Owner will pay Manager, for each new tenant lease entered into during the term hereof, a commission equal to the percentage specified in the related Property Amendment of the Net Rent payable during the term (not to exceed ten (10) years). No commission shall be payable as to any portion of the initial term beyond ten (10) years. As used herein, “Net Rent” is defined as the total base rental and operating expenses (but excluding future increases in operating expenses) actually to be paid to Owner by the tenant during the applicable term of the lease; and the calculation of the total base rental specifically incorporates, at a value of zero, any installments of base rental that the tenant is not required to pay as an inducement to enter into the lease (i.e. free rent). Payments shall be as negotiated between the Owner and Manager and as set forth on the Property Amendment.
New Lease Commission. For each Property for which Manager serves as leasing agent, Owner will pay Manager, for each new tenant Lease entered into during the term hereof, a commission equal to the fee that is customarily charged by others rendering similar services in the same geographic area, as determined by the Board of Directors of The GC Net Lease REIT, in its sole discretion.
New Lease Commission. New Lease Commission" means, with respect to an Approved New Lease, the total of all leasing commissions paid or payable by Seller in connection with such Approved New Lease.
New Lease Commission. A. Subject to further terms and conditions of this Agreement, Broker's total commission shall be four and one-half percent (4.5%) of the aggregate gross base rent to be paid to Owner for the Primary Term (as herein defined) of the lease. As used in this Agreement, "Primary Term" shall mean the stated term of the lease. The commission to Broker shall be due and payable by Owner as follows: