Bonus Rent means the excess of (a) all consideration received by Tenant from an assignment of this Lease or a sublease of all or any portion of the Premises over (b) the Base Rent, Increased Operating Costs and other charges payable by Tenant to Landlord under this Lease (prorated, in the case of a sublease of less than all of the Premises, to reflect obligations allocable to only the portion of the Premises so sublet). In determining the total consideration under the foregoing clause (a), Tenant shall be entitled to exclude therefrom reasonable leasing commissions paid by Tenant to any unaffiliated third party, payments attributable to the amortization of the cost of improvements Tenant must make to the Premises at its cost to ready same for the assignee or sublessee, and other reasonable, out-of-pocket costs paid by Tenant which are directly related to Tenant's obtaining the assignment or sublease.
Bonus Rent means any rent or other consideration realized by Tenant under any and all Subleases and/or Assignments that is in excess of the Monthly Base Rent and Additional Charges payable hereunder (or the amount thereof proportionate to the portion of the Premises subject to such Sublease(s) and/or Assignment(s)), including, without limitation, any sums paid for the sale or rental of the Tenant Improvements, after first deducting from such excess the following: (1) the unamortized costs of any portion of the Tenant Improvements, or any Alterations affirmatively approved by Landlord and not designated by Landlord as Alterations that Tenant must removed upon the expiration of the Term, that are installed in that portion of the Premises that is the subject of the Sublease or Assignment and that were paid for by Tenant (and not from the Tenant Allowance), which costs shall be amortized on a straight line basis (without interest) over the Initial Term of this Lease in equal monthly installments; and (2) any customary brokers' commissions that Tenant has incurred in connection with such Sublease or Assignment amortized on a straight line basis (without interest) over the term of the Sublease or Assignment in equal monthly installments. "Landlord's Share" for purposes of this Paragraph 10(d) shall mean fifty percent (50%) of Bonus Rent attributable to the first twenty-four months of the Term, and seventy-five percent (75%) of Bonus Rent attributable to the remaining Term (including any Extension Term), regardless of when such Bonus Rent is actually received by Tenant or when the applicable Sublease or Assignment is entered into. For purposes of determining Landlord's Share of Bonus Rent, (A) any prepaid rent or other prepayments of amounts payable under Assignments or Subleases shall be credited against rent and other payments payable under the applicable Assignment or Sublease in the inverse order in which such payments would be payable by the assignor or sublessee (such that, for example, prepaid rent would be credited first against the rent due for the last month of the term of the Assignment or Sublease and therefore attributable to such month for purposes of determining Landlord's Share), regardless of when the sublessee or assignee actually makes such prepayment; and (B) any free rent or other rent concessions shall be debited against rent or other payments payable under the applicable Assignment or Sublease in the order in which such payments would be payable by su...
Bonus Rent means any rent or other consideration realized by Tenant under any and all Subleases and/or Assignments, including, without limitation, any sums paid for the sale or rental of the Tenant Improvements or any Alterations, that is in excess of the Monthly Base Rent and Additional Charges payable hereunder (or the amount thereof proportionate to the portion of the Premises subject to such Sublease(s) and/or Assignment(s)), after first deducting from such excess any costs payable by Tenant to Landlord pursuant to express provisions of this Lease in connection with Landlord’s review of Tenant’s request for consent to such Sublease(s) or Assignment(s), any reasonable legal fees and costs (up to a maximum of $15,000), and any customary brokers’ commissions that Tenant has incurred in connection with such Sublease or Assignment, all amortized on a straight line basis (without interest) over the term of the Sublease or Assignment in equal monthly installments.
Examples of Bonus Rent in a sentence
Tenant shall pay Bonus Rent to Landlord as and when it is received by Tenant, regardless of the time period to which it is attributable.
Lessee and Lessor shall split equally (50/50) the Bonus Rent, as hereafter defined, actually received by the Lessee in connection with any subletting or assignment to a party other than an Excepted Party.
Notwithstanding the foregoing, except for any Bonus Rent that Sublandlord is required to pay to Master Landlord under the terms of the Master Lease, Subtenant shall not be required to pay any Bonus Rent to Sublandlord arising out of an assignment or sublease to a Permitted Transfer.
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Within fifteen (15) days after written request by Landlord, Tenant shall provide and certify to Landlord all financial information required for the calculation of Bonus Rent.
More Definitions of Bonus Rent
Bonus Rent means any rent or other consideration realized by Tenant under any and all Subleases and/or Assignments that is in excess of the Monthly Base Rent and Additional Charges payable hereunder (or the amount thereof proportionate to the portion of the Premises subject to such Sublease(s) and/or Assignment(s)), including, without limitation, any sums paid for the sale or rental of the Warm Shell Improvements and/or the Tenant Improvements, after first deducting from such excess the following:
Bonus Rent means all sums received by Subtenant in consideration for the assignment or sub-sublease (including the fair market value, measured in dollars, of any non-cash consideration) in excess of the Rent payable under this Sublease (prorated in case of a partial sub-sublease). If Sublandlord or Landlord retains the services of an attorney to review any aspect of the proposed assignment or sub-sublease transaction, Subtenant shall pay to Sublandlord and/or Landlord all attorneys' fees reasonably incurred by them in connection therewith. Subtenant shall pay such attorneys' fees to Sublandlord and/or Landlord within thirty (30) days after written request therefor. No consent of Sublandlord to any assignment or sub-subletting by, Subtenant shall relieve Subtenant of the obligations to be performed by Subtenant under this Sublease, whether accruing before or after such assignment or sub-subletting, and notwithstanding any subsequent modification, extension or renewal of this Sublease made with or without Subtenant's consent. The consent by Sublandlord and Landlord to any transfer or sub-subletting shall not relieve Subtenant from the obligations to obtain Sublandlord's and Landlord's express prior written consent to any other transfer or sub-subletting. The acceptance by Sublandlord of payment from any other person shall not be deemed to be a waiver by Sublandlord of any provision of this Sublease or to be a consent to any transfer or sub-sublease, or to be a release of Subtenant from any obligation under this Sublease. If this Sublease is assigned, or if the Subleased Premises or
Bonus Rent shall have the meaning given to it in Section 8.3 hereof.
Bonus Rent means the amount (if any) by which all consideration received by Lessee for the sublease of the Premises exceeds the Rent payable hereunder, after first deducting costs and fees paid by Lessee to sublease the Premises (but not the costs to install Lessee's tenant improvements). Lessee may assign this Lease, or any portion thereof, without Lessor's consent, by operation of law or otherwise, including to any entity which controls, is controlled by, or is under common control with Lessee; to any entity which results from a merger of, reorganization of, or consolidation with Lessee; to any entity engaged in a joint venture with Lessee; or to any entity which acquires substantially all of the stock or assets of Lessee, as a going concern, with respect to the business that is being conducted in the Premises (collectively, a "Permitted Transfer"). Lessee agrees to provide written notice to Lessor of any Permitted Transfer.
Bonus Rent means the monetary consideration received by the Lessee for the subleasing of the sublet premises or the assignment of this Lease, less the amounts that remain payable by the Lessee under this Lease with respect to the affected portions of the Premises, less reasonable out of pocket broker and attorney costs associated with the transaction, and less the cost that Lessee is required to incur to perform its obligations under such sublease or assignment, including without limitation, any improvement costs amortized over the term of the sublease or assignment. Notwithstanding the foregoing, Lessee may assign this Lease to an Excepted Party, provided there is no substantial reduction in the net worth of the resulting guarantor. Whether or not Lessor’s consent to a sublease or assignment is required, in the event of any sublease or assignment, Lessee shall be and shall remain primarily liable for the performance of all conditions, covenants, and obligations of Lessee hereunder and, in the event of a default by an assignee or sublessee, Lessor may proceed directly against the original Lessee hereunder and/or any other predecessor of such assignee or sublessee without the necessity of exhausting remedies against said assignee or sublessee.
Bonus Rent means the consideration received by the Lessee for the subleasing of the sublet premises or the assignment of this Lease, less the amounts that remain payable by the Lessee under this Lease with respect to the affected portions of the Premises, less reasonable leasing broker and attorney costs associated with the transaction, and less the cost that Lessee is required to incur to perform its obligations under such sublease or assignment, and including without limitation, any improvement costs and any other tenant inducements. Whether or not Lessor’s consent to a sublease or assignment is required, in the event of any sublease or assignment, Lessee shall be and shall remain primarily liable for the performance of all conditions, covenants, and obligations of Lessee hereunder and, in the event of a default by an assignee or sublessee, Lessor may proceed directly against the original Lessee hereunder and/or any other predecessor of such assignee or sublessee without the necessity of exhausting remedies against said assignee or sublessee. Notwithstanding the foregoing, Lessee may assign this Lease to an Excepted Party, provided there is no substantial reduction in the net worth of the resulting entity unless Lessee agrees to increase the Security Deposit to an amount equal to six (6) months rent. If Lessee merges or sells substantially all of its assets and the net worth of the resulting entity is substantially less than that of Lessee, such sale shall be a default under this Lease unless approved by Lessor.
Bonus Rent means any consideration of any kind received, or to be received, by Tenant as a result of the Transfer, if such sums are related to Tenant’s interest in this Lease or in the Premises, including payments from or on behalf of the transferee (in excess of the book value thereof) for Tenant’s assets, fixtures, leasehold improvements, inventory, accounts, goodwill, equipment, furniture, and general intangibles. The term “Permitted Transfer Costs” shall mean (i) all reasonable and customary leasing commissions paid to third parties not affiliated with Tenant in order to obtain the Transfer in question, (ii) all reasonable attorneys’ fees incurred by Tenant with respect to the Transfer in question, and (iii) the costs for leasehold improvements permanently affixed to the Premises in connection with such Transfer, which costs shall be amortized over the term of Transfer in question.