Aggregate Base Rental definition

Aggregate Base Rental means the total of base rent and pre-determined fixed increases in rent stated in the lease to be paid by the tenant during the original lease term up to a maximum of ten (10) years (unless otherwise agreed by Owner in writing), and shall specifically exclude percentage rent, variable escalations, CPI escalations, operating expense escalations, real estate tax escalations or similar pass-throughs or any portion of said base rent attributable to free rent or abatements. In the event a lease provides that the tenant is to pay directly for some or all of the operating expenses and/or real estate taxes associated with its space then, for purpose of calculating Aggregate Base Rental, such rental shall be increased by an amount equivalent to the estimated annual expenses that will be paid by tenant during the first year of its lease. Unless otherwise agreed by Owner in writing, no commission will be paid for any portion of a lease term that exceeds ten (10) years.
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Aggregate Base Rental. (as hereinafter defined) due and payable with respect to any such new lease. In the event that a third party cooperating broker is involved in the procurement of such new lease (a "Co-Broker"), Property Manager's commission shall be reduced to two percent (2.0%) of Aggregate Base Rental. In addition, Owner shall enter into a separate agreement with the Co-Broker pursuant to which Owner shall agree to pay Co-Broker an amount not to exceed four percent (4.00%) of Aggregate Base Rental. For purposes of this Agreement, "Aggregate Base Rental" shall mean the total of base rent and pre-determined fixed increases in rent stated in the lease to be paid by the tenant during the original lease term up to a maximum of ten (10) years (unless otherwise agreed by Owner in writing), and shall specifically exclude percentage rent, variable escalations, CPI escalations, operating expense escalations, real estate tax escalations or similar pass-throughs or any portion of said base rent attributable to free rent or abatements. In the event a lease provides that the tenant is to pay directly for some or all of the operating expenses and/or real estate taxes associated with its space then, for purpose of calculating Aggregate Base Rental, such rental shall be increased by an amount equivalent to the estimated annual expenses that will be paid by tenant during the first year of its lease. Unless otherwise agreed by Owner in writing, no commission will be paid for any portion of a lease term that exceeds ten (10) years.
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Examples of Aggregate Base Rental in a sentence

  • In addition, Owner shall enter into a separate agreement with the Co-Broker pursuant to which Owner shall agree to pay Co-Broker an amount not to exceed four percent (4.00%) of Aggregate Base Rental.

  • In addition, Owner shall enter into a separate agreement with the Co-Broker pursuant to which Owner shall agree to pay Co-Broker an amount not to exceed two percent (2.0%) of Aggregate Base Rental.

  • For new leases signed during the term of this Agreement, Owner agrees to pay Property Manager a cash-out commission in the amount of four percent (4.0%) of "Aggregate Base Rental" (as hereinafter defined) due and payable with respect to any such new lease.

  • In the event a lease provides that the tenant is to pay directly for some or all of the operating expenses and/or real estate taxes associated with its space then, for purpose of calculating Aggregate Base Rental, such rental shall be increased by an amount equivalent to the estimated annual expenses that will be paid by tenant during the first year of its lease.

  • In the event that a third party cooperating broker is involved in the procurement of such new lease (a "Co-Broker"), Property Manager's commission shall be reduced to two percent (2.0%) of Aggregate Base Rental.