Absolute Net Rent definition
Absolute Net Rent means, for any lease, the initial full service gross rent per square foot on the effective date of such lease, minus (i) an amount equal to the initial operating expenses per square foot, minus (ii) an amount per square foot equal to (A) the present value of all free rent, commissions, tenant improvements and other deal-related costs as of the effective date of such lease per square foot at a discount rate of 11% per annum amortized over (B) number of years in the term of the lease at an interest rate of 11% per annum, plus (iv) an amount per square foot equal to (I) the sum of the present value of each rent increase per square foot during the term of such lease at a discount rate of 11% per annum amortized over (II) the number of years in the term of the lease at an interest rate of 11% per annum];
Absolute Net Rent means this Lease (that is sometimes colloquially called a “triple net lease”) in which the Lessee pays rent, plus all of the costs of ownership and operation, including but not limited to insurance, real estate taxes, repair and replacement, cleaning, and utilities. All obligations of the lessee under the terms of this document shall be deemed as a rental obligation regardless of the description or location in the agreement.
Absolute Net Rent means that Lessee shall be required to pay all rent, plus all of the costs of ownership and operation of the Project in accordance with the terms of this Lease, including but not limited to insurance, real estate taxes, repair and replacement, cleaning, and utilities.
Examples of Absolute Net Rent in a sentence
Lessor and ▇▇▇▇▇▇ acknowledge and agree that this Lease shall be on an Absolute Net Rent Basis (that is sometimes colloquially called a "triple net lease") subject to the terms and conditions set forth herein.