Concession Amount definition

Concession Amount means the present value of the Lease Concessions to be eliminated by Landlord by purchase as of the date of payment by Landlord to Tenant of the Concession Amount. The present value of the Lease Concessions shall be calculated by Landlord (i) by reasonably estimating the date that such Lease Concession would be payable by Landlord to Tenant (or the date that such Lease Concession or portion thereof would otherwise be deducted from or otherwise reduce Tenant’s obligation to pay to Landlord Rent), and (ii) using a discount rate for each such Lease Concession or portion thereof equal to eleven percent (11%) per annum. Upon such payment by Landlord to Tenant of any Concession Amount, the Lease Concession (or portion thereof) purchased by Landlord shall be eliminated and shall be deemed null, void and of no further force or effect. Landlord and Tenant shall memorialize any such agreement pursuant to this Section 30.29 in an amendment to this Lease prepared by Landlord and signed by Landlord and by Tenant.
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Concession Amount means E x F where: Internal Area gross interior area measured in accordance with the edition of the Professional Statement for Property Measurement issued by the Royal Institution of Chartered Surveyors current at the date of the Lease; Normal Business Hours Operators NEXT and any Group Company of NEXT and any other permitted occupier in each case conducting business on, in, at or from the Premises with the express or implied authority of NEXT (or of any of the other operators) for the purposes of any trade or business (but not concessionaires or franchisees or undertenants); Quarter Date means 31 December, 31 March, 30 June and 30 September in each year; Quarterly Period means a period of three months falling within the Term and ending on and including a Quarter Date but:
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Examples of Concession Amount in a sentence

  • For purposes hereof, the "Concession Amount" shall be defined as the aggregate of the Maximum TI Allowance and the brokers' commissions becoming due by reason of this Lease.

  • Section 19.3 in the Original Lease (as amended) is hereby further amended so that the Concession Amount as therein defined shall include the aggregate of all amounts expended by Landlord for the Suite 110 Work under Exhibit B hereof, for free rent given to Tenant and for brokers’ commissions payable by reason of this Amendment and any future Amendment executed by the parties upon an expansion of the Premises.

  • Section 19.3 in the Original Lease as amended by the First Amendment is further amended so that the Concession Amount as therein defined shall include the aggregate of all amounts expended by Landlord for the Suite 140 Allowance under Exhibit B hereof, for free rent given to Tenant and for brokers’ commissions payable by reason of this Amendment and any future Amendment executed by the parties upon an expansion of the Premises.

  • Section 19.3 in the Lease is amended so that the Concession Amount as therein defined shall include the aggregate of all amounts forgone or expended by Landlord under Exhibit B hereof for the Work, for free rent given to Tenant and for brokers’ commissions payable by reason of this Amendment and any future Amendment executed by the parties upon an expansion of the Premises.

  • Tenant understands and agrees that in entering into this Lease, Landlord is relying upon receipt of all the base rent to become due with respect to all of the Leased Premises over the full term of this Lease for amortization, including an interest factor of ten (10%) per annum (the "Interest Rate") of the Concession Amount.

  • Section 19.3 in the Original Lease as amended by the First Amendment and the Second Amendment is further amended so that the Concession Amount as therein defined shall include the aggregate of all amounts expended by Landlord for Landlord’s Work, for the Must-Take CB Space Allowance under Exhibit B hereof, for free rent given to Tenant and for brokers’ commissions payable by reason of this Amendment and any future Amendment executed by the parties upon an expansion of the Premises.

  • For purposes hereof, the "Concession Amount" shall be defined as the aggregate of all amounts forgone or expended by Landlord as free rent under the lease, under Exhibit B hereof for construction allowances (excluding therefrom any amounts expended by Landlord for Landlord's Work, as defined in Exhibit B), and for brokers' commissions payable by reason of this Lease.

  • For a renewing Group, calculate the difference between the renewal rate increase initially offered by Insurer and the final renewal rate increase for the same benefits to assign the Concession Amount.

  • Tenant understands and agrees that in entering into this Lease, Landlord is relying upon receipt of all the Base Rental to become due with respect to all of the Premises over the full Term of this Lease for amortization, including an interest factor of ten percent (10%) per annum (the "Interest Rate") of the Concession Amount.

  • Upon written notice to Tenant, Landlord shall have the right (but not the obligation) at any time during the Term of this Lease to eliminate all or any portion of the Lease Concessions from Tenant by purchasing from Tenant such Lease Concessions at the Concession Amount (as each such term is defined in this Section 30.29).