Common use of Tenant’s Payments Clause in Contracts

Tenant’s Payments. (a) From and after the Commencement Date, and for each year of the lease term or portion thereof, Tenant shall pay to Landlord as additional rent, Tenant's share of Common Charges (as defined below). Tenant's share shall be calculated by dividing the rentable square foot area of the Leased Premises by the gross leaseable first floor area of the Shopping Center. (b) Notwithstanding anything contained in the Lease to the contrary, space occupied by any other tenant in the Shopping Center that pays directly for its own Common Charges (or component thereof) or fire and/or extended coverage insurance may be excluded by Landlord from the denominator when computing Tenant's share of any of such charges.

Appears in 2 contracts

Sources: Lease (Embassy Bancorp, Inc.), Lease (Embassy Bancorp, Inc.)

Tenant’s Payments.  (a) From and after the Commencement Date, and for each year of the lease term or portion thereof, Tenant shall pay to Landlord as additional rent, Tenant's share of Common Charges (as defined below). Tenant's share shall be calculated by dividing the rentable square foot area of the Leased Premises by the gross leaseable first floor area of the Shopping Center..  (b) Notwithstanding anything contained in the Lease to the contrary, space occupied by any other tenant in the Shopping Center that pays directly for its own Common Charges (or component thereof) or fire and/or extended coverage insurance may be excluded by Landlord from the denominator when computing Tenant's share of any of such charges.. 

Appears in 1 contract

Sources: Lease (Embassy Bancorp, Inc.)