Building’s Share definition
Building’s Share shall each mean that percentage which is obtained by dividing the leasable square footage contained within the Building by the leasable square footage contained within all buildings located within the Project, unless, as to any given item, such a percentage allocation unfairly burdens or benefits a given building(s), in which case Landlord shall have the exclusive right to equitably allocate such item so as to not unfairly burden or benefit any given building(s). Landlord’s determination of any such special allocation shall be final and binding upon Tenant unless made in bad faith.
Building’s Share shall be the percentage set forth on the first page of this Lease as “Building’s Share of Operating Expenses of Project,” each as may be reasonably adjusted by Landlord for changes in the size of the Premises, Building and/or Project occurring thereafter. If Landlord has a reasonable basis for doing so and Landlord consistently applies such adjustments in a non-discriminatory manner with respect to similarly situated tenants of the Building and/or Project, as applicable, Landlord may equitably increase Tenant’s Share for any Operating Expenses that relate to any item of expense or cost (1) equitably and reasonably allocated only to the Premises or the Building, (2) equitably and reasonably allocated to only a portion of the Building or Project that includes the Premises, or (3) a greater proportion of which is equitably and reasonably allocated to the Premises, or a portion of the Building or Project that includes the Premises, as reasonably determined by Landlord. If Landlord has a reasonable basis for doing so and Landlord consistently applies such adjustments in a non-discriminatory manner with respect to similarly situated tenants of the Building and/or Project, as applicable,, Landlord may equitably increase the Building’s Share for any Operating Expenses that relate to any items of expense or cost (A) equitably and reasonably allocated to only the Building or a portion of the Project that includes the Building, or (B) a greater proportion of which is equitably and reasonably allocated to the Building or a portion of the Project that includes the Building, as reasonably determined by Landlord. Base Rent, ▇▇▇▇▇▇’s Share of Operating Expenses and all other amounts payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.”
Building’s Share shall be the percentage set forth on the first page of this Lease as “Building’s Share of Operating Expenses of Project,” each as may be reasonably adjusted by Landlord for changes in the physical size of the Building and/or Project occurring thereafter. The rentable area of the Premises shall not be subject to re-measurement by either party during the Term. Landlord may equitably increase Tenant’s Share for any Operating Expenses that relate to any item of expense or cost (1) equitably and reasonably allocated only to the Premises or the Building, (2) equitably and reasonably allocated to only a portion of the Building or Project that includes the Premises, or (3) a greater proportion of which is equitably and reasonably allocated to the Premises, or a portion of the Building or Project that includes the Premises, as reasonably determined by Landlord. Landlord may equitably increase the Building’s Share for any Operating Expenses that relate to any items of expense or cost (A) equitably and reasonably allocated to only the Building or a portion of the Project that includes the Building, or (B) a greater proportion of which is equitably and reasonably allocated to the Building or a portion of the Project that includes the Building, as reasonably determined by Landlord. Base Rent, T▇▇▇▇▇’s Share of Operating Expenses and all other amounts payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.”
Examples of Building’s Share in a sentence
Landlord shall adjust the Building’s Share percentage and provide written notice to Tenant thereof promptly after substantial completion (as evidenced by the issuance of a temporary or permanent certificate of occupancy after completion of a tenant’s improvements) of any new building(s) constructed or expanded within the Park.
Rentable Area of Premises: 48,192 rentable square feet Rentable Area of Project: 814,899 rentable square feet Rentable Area of Building: 165,194 rentable square feet Building’s Share of Project: 20.27% Tenant’s Share: 29.17% Security Deposit: $939,744.00 Target Commencement Date: November 1, 2018 Rent Adjustment Percentage: 3% Base Term: Beginning on the Commencement Date and ending 96 months from the first day of the first full month following the Commencement Date.
Tenant’s Share of Operating Expenses of Building: 100% Building’s Share of Operating Expenses of Project: 51.18% Security Deposit: $1,269,560 Rent Adjustment Percentage: 3% Target Commencement Date: November 1, 2016 Base Term: Beginning on the Commencement Date and ending on March 31, 2025.
The term “Building Operating Expenses” shall mean and include the Building’s Share of all Real Property Taxes, plus the Building’s Share of all Landlord’s Insurance Costs, plus the Building’s Share of all Project Maintenance Costs plus an accounting fee equal to three percent (3%) of Building Operating Expenses (other than said fee).
Building’s Share of Project: 17.94% Security Deposit: $320,261.06 Target Commencement Date: February 5, 2013; provided, however, that the Target Commencement Date shall be extended 1 day for each day after October 1, 2012, that the TI Construction Drawings (as defined in the Work Letter) are not completed and mutually approved by Landlord and Tenant.
More Definitions of Building’s Share
Building’s Share shall be the percentage set forth on the first page of this Lease as Building’s Share of Operating Expenses of Project, as reasonably adjusted by Landlord for changes in the physical size of the Building or the Project occurring thereafter. ▇▇▇▇▇▇▇▇’s initial measurement of the rentable square footage of the Premises, the Building and the Project and any re-measurement thereof shall be done by ▇▇▇▇▇▇▇▇▇ Systems in accordance with ▇▇▇▇▇▇▇▇▇ System’s Life Science Measurement Method. As used herein, “Life Science Measurement Method” shall mean the measuring of the Building (1) by determining the area enclosed by the measure line, which measure line shall follow the exterior glass line or the outermost structural element of the Building, where applicable, and (2) including within the common area of the Building all of the areas of the Building that are used to provide services to the Building tenants, plus all vertical penetrations and their enclosing walls (i.e., vertical ducts, flues, pipe shafts, balconies, stairwells, elevator core, and other similar columns and projections). If Landlord determines, in its sole discretion, to construct additional Project Amenities in the future (other than those Project Amenities located at the 6 ▇▇▇▇▇▇▇ Building), the Premises shall be allocated its pro rata share of the square footage of such Project Amenities and the rentable square footage of the Premises, Rentable Area of Premises, and Rentable Area of Building shall be ratably increased; provided, however, for purposes of calculating the Premises’ pro rata share of the square footage of the Project Amenities, the square footage of the additional Project Amenities shall not exceed 17,500 square feet). If the actual rentable square footage of the Premises, the Building or the Project deviates from the amount specified in the definitions of “Premises,” “Rentable Area of Premises,” “Rentable Area of Building” and/or “Rentable Area of Project” on page 1 of this Lease, then, promptly following such measurement, this Lease shall be amended so as to (i) reflect the actual rentable square footage thereof in the definitions of “Premises,” “Rentable Area of Premises,” “Rentable Area of Building,” and “Rentable Area of Project,” and (ii) appropriately adjust the amount set forth in the definitions of “Tenant’s Share of Operating Expenses of Building” and “Building’s Share of Operating Expenses of Project”, which were calculated based on the rentable square footages of the Premis...
Building’s Share of Project" set forth in the Basic Lease Provisions may be adjusted by Landlord for changes in the physical size of the Premises or the Project occurring after the Commencement Date. Any such measurement shall be performed in accordance with the 1996 Standard Method of Measuring Floor Area in Office Buildings as adopted by the Building Owners and Managers Association (ANSI/BOMA Z65.1-1996). Landlord may equitably increase Tenant's Share for any item of expense or cost reimbursable by Tenant that relates to a repair, replacement, or service that benefits only the Premises or only a portion of the Project that includes the Premises or that varies with occupancy or use. Base Rent, Tenant's Share of Operating Expenses, and all other amounts payable by Tenant to Landlord hereunder are collectively referred to herein as "Rent".
Building’s Share means a fraction, the numerator of which is the rentable square footage of the Building, and the denominator of which is the rentable square footage of the Project Throughout the Term of this Lease, commencing on the Commencement Date, and in addition to Tenant’s obligations set forth in Section 3 4 hereof, Tenant agrees to pay Landlord, as additional rent in accordance with the terms of this Section 4, the Building’s Share of Operating Expenses for the operation, maintenance, repair, and replacement of the Project and the Common Area including, without limitation: (i) any form of real property tax, assessment (including, without limitation, change in ownership taxes and assessments), license fee, license tax, business license fee, commercial rental tax, levy, charge, improvement bond or similar imposition of any kind or nature imposed by any authority having the direct power to tax, including any city, county, state or federal government, or any school, agricultural, lighting, drainage or other improvement or special assessment district thereof, (ii) any and all assessments under any covenants, conditions and restrictions affecting the Project, (iii) water, sewer and other utility charges for the Common Area, (iv) costs of commercially reasonable insurance obtained by landlord, (v) waste disposal and janitorial services, (vi) security (if any), (vii) labor, (viii) commercially reasonable management costs including, without limitation (A) wages and salaries (and payroll taxes and similar charges) of property management employees for the Common Area, (B) management office rental, supplies, equipment and related operating expenses for the Common Area, (C) commercially reasonable management/administrative fees, and (D) association fees and assessments, (ix) supplies, materials, equipment and tools including rental of personal property, (x) repair and maintenance of the structural portions of the buildings within the Project, including the plumbing, heating, ventilating, air-conditioning and electrical systems installed or furnished by Landlord; (xi) maintenance, sweeping, repairs, resurfacing, and upkeep of all parting and other Common Areas; (xii) amortization on a straight line basis over the useful life together with interest at the Interest Rate on the unamortized balance of all capitalized expenditures to the Project, (xiii) gardening and landscaping, (xiv) maintenance of signs (other than signs of tenants of the Project), (xv) personal property taxes le...
Building’s Share shall each mean that percentage which is obtained by dividing the leasable square footage contained in the Building by the leasable square footage contained in all buildings located within the Project, unless, as to any given item, such a percentage allocation unfairly burdens or benefits a given building(s), in which case Landlord shall have the exclusive right to reasonably and equitably allocate such item so as to not unfairly burden or benefit any given building(s). Landlord's determination of any such special allocation shall be final and binding upon Tenant.
Building’s Share shall be the percentage set forth on page 1 as the Building’s Share of Operating Expenses of Project, each as may be reasonably adjusted by Landlord for changes in the physical size of the Premises, Building or the Project occurring thereafter. Landlord may equitably increase Tenant’s Share for any item of expense or cost reimbursable by Tenant that relates to a repair, replacement, or service that benefits only the Premises or only a portion of the Project that includes the Premises or that varies with occupancy or use. Base Rent, Tenant’s Share of Operating Expenses and all other amounts payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.”
Building’s Share means a fraction, the numerator of which is the Rentable Area of the Building and the denominator of which is the total of all Rentable Area within the Project. For purposes of this Lease, "Common Area Expenses" shall mean all costs incurred by Landlord for the operation, management, repair, maintenance and replacement, in neat, clean, good order and condition, of the Common Areas, including, without limitation, any parking areas, loading and unloading areas, trash areas, roadways, sidewalks, walkways, parkways, driveways, landscaped areas, striping, bumpers, irrigation systems, lighting facilities, fences and gates, costs of causing the Common Areas to comply with applicable Laws, costs incurred by Landlord in maintaining a policy of liability insurance pursuant to Paragraph 8.2 below, costs incurred by Landlord in payment of Real Property Taxes with respect to the Common Areas pursuant to Paragraph 10.1 below, and the cost of water, gas and electricity to service the Common Areas. Notwithstanding anything to the contrary contained in this Lease, the parties hereby agree and acknowledge that portions of the Project are anticipated to remain undeveloped until following the Commencement Date under this Lease. Accordingly, following the completion of development of the Project, Tenant's Share of Operating Expenses shall not increase disproportionately based upon any development of the Project for uses and/or at densities different that the use and density of development of the Building and parking areas serving the Building.
Building’s Share means the share of Project Common Expenses allocated to the Building pursuant to the terms and conditions of the Ground Lease and the REA.