Common use of Transfer Premium from Assignment or Subletting Clause in Contracts

Transfer Premium from Assignment or Subletting. Landlord shall be entitled to receive from Tenant (as and when received by Tenant) as an item of additional rent the following amounts (hereinafter the "Transfer Premium"): one hundred percent (100%) of all amounts received by Tenant from such subtenant in excess of the amounts payable by Tenant to Landlord hereunder in excess of the amounts payable by Tenant to Landlord hereunder. "Transfer Premium" shall mean all Yearly Rent, additional rent or other consideration of any type whatsoever payable by the assignee or subtenant in excess of the Yearly Rent and additional rent payable by Tenant under this Lease less Tenant's reasonable expenses incurred in connection with such subletting or assignment, including without limitation, attorneys' fees, tenant improvement costs and brokerage commissions. If less than all of the Premises is transferred, the Yearly Rent and the additional rent shall be determined on a per rentable square foot basis. "Transfer Premium" shall also include, but not be limited to, key money and bonus money paid by the assignee or subtenant to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to the assignee or subtenant or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to the assignee or subtenant in connection with such Transfer.

Appears in 1 contract

Samples: Brooks Automation Inc

AutoNDA by SimpleDocs

Transfer Premium from Assignment or Subletting. Landlord shall be entitled to receive from Tenant (as and when received by Tenant) as an item of additional rent one-half of the following amounts (such one-half being referred to hereinafter as the "Transfer Premium"): one hundred percent (100%) of all amounts received by Tenant from such a subtenant in excess of the amounts payable by Tenant to Landlord hereunder or assignee in excess of the amounts payable by Tenant to Landlord hereunder. "The Transfer Premium shall be reduced by one-half of the reasonable brokerage commissions, tenant improvement costs and legal fees actually paid by Tenant in order to assign the Lease or to sublet a portion of the Premises. “Transfer Premium" shall mean include one-half of all Yearly Base Rent, additional rent or other consideration of any type whatsoever payable by the assignee or subtenant in excess of the Yearly Base Rent and additional rent payable by Tenant under this Lease less Tenant's reasonable expenses incurred in connection with such subletting or assignment, including without limitation, attorneys' fees, tenant improvement costs and brokerage commissionsLease. If less than all of the Premises is transferred, the Yearly Base Rent and the additional rent shall be determined on a per rentable square per-leasable-square-foot basis. "Transfer Premium" shall also include, but not be limited to, one-half of all key money and bonus money paid by the assignee or subtenant to Tenant in connection with such Transfer, and any payment in excess of fair fair-market value for services rendered by Tenant to the assignee or subtenant or for assets, fixtures, inventory, equipment, equipment or furniture transferred by Tenant to the assignee or subtenant in connection with such Transfer.

Appears in 1 contract

Samples: Source Photonics Inc

Transfer Premium from Assignment or Subletting. Landlord shall be entitled to receive from Tenant (as and when received by Tenant) as an item of additional rent the following amounts (hereinafter the "Transfer Premium"): one hundred percent (100%) one-half of all amounts received by Tenant from such the subtenant in excess of the amounts payable by Tenant to Landlord hereunder or assignee in excess of the amounts payable by Tenant to Landlord hereunder. "The Transfer Premium shall be reduced by the reasonable brokerage commissions and legal fees actually paid by Tenant in order to assign the Lease or to sublet a portion of the Premises, and the cost of any tenant improvements made by Tenant in connection with the assignment or sublease. “Transfer Premium" shall mean all Yearly Base Rent, additional rent or other consideration of any type whatsoever payable by the assignee or subtenant in excess of the Yearly Base Rent and additional rent payable by Tenant under this Lease less Tenant's reasonable expenses incurred in connection with such subletting or assignment, including without limitation, attorneys' fees, tenant improvement costs and brokerage commissionsLease. If less than all of the Premises is transferred, the Yearly Base Rent and the additional rent shall be determined on a per rentable square foot basis. "Transfer Premium" shall also include, but not be limited to, key money and bonus money paid by the assignee or subtenant to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to the assignee or subtenant or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to the assignee or subtenant in connection with such Transfer.

Appears in 1 contract

Samples: Work Letter Agreement (Ign Entertainment Inc)

AutoNDA by SimpleDocs

Transfer Premium from Assignment or Subletting. Landlord shall be entitled to receive from Tenant (as and when received by Tenant) as an item of additional rent the following amounts (hereinafter the "Transfer Premium"): one hundred fifty percent (10050%) of all amounts received by Tenant as rent or additional rent from such assignee or subtenant in excess of the amounts payable by Tenant to Landlord hereunder (the "Transfer Premium"). The Transfer Premium shall be reduced by the reasonable brokerage commissions and legal fees actually paid by Tenant in excess order to assign the Lease or to sublet a portion of the amounts payable Premises and tenant improvement allowances or other economic concessions reasonably granted by Tenant to Landlord hereunderthe assignee or sublessee. "Transfer Premium" shall mean all Yearly Base Rent, additional rent or other consideration in the nature of any type whatsoever rent or additional rent payable by the assignee or subtenant in excess of the Yearly Base Rent and additional rent payable by Tenant under this Lease less Tenant's reasonable expenses incurred in connection with such subletting or assignment, including without limitation, attorneys' fees, tenant improvement costs and brokerage commissionsLease. If less than all of the Premises is transferred, the Yearly Base Rent and the additional rent shall be determined on a per rentable square foot basis. "Transfer Premium" shall also include, but not be limited to, key money and bonus money paid by the assignee or subtenant to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to the assignee or subtenant or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to the assignee or subtenant in connection with such Transfer.

Appears in 1 contract

Samples: Storagenetworks Inc

Time is Money Join Law Insider Premium to draft better contracts faster.