Electrical Inclusion Factor definition
Examples of Electrical Inclusion Factor in a sentence
The following method of computation shall be employed in making the percentage differential determination applicable to the Electrical Inclusion Factor.
When said survey is completed and delivered to Tenant, the Electrical Inclusion Factor as set forth in said survey shall become binding upon Tenant.
However, if it shall be so determined that the full value to Tenant of such service does not exceed the Electrical Inclusion Factor, no such agreement shall be executed and there shall be no increase or decrease in the Fixed Rent or the Electrical Inclusion Factor by reason of such determination.
If Owner exercises such right to discontinue, or is compelled to discontinue furnishing electricity to Tenant, this Lease shall continue in full force and effect and shall be unaffected thereby, except only that from and after the effective date of such discontinuance, Owner shall not be obligated to furnish electricity to Tenant and the Rent shall be reduced by an amount equal to the then Electrical Inclusion Factor.
However, if it shall be so determined that the full value to Tenant of such service does not exceed the Electrical Inclusion Factor, this Lease shall be deemed modified and there shall be no increase or decrease in the Rent or the Electrical Inclusion Factor by reason of such determination.
If the cost to Owner of electricity shall have been, or shall be, increased from time to time by change in utility company’s electricity rates, charges, fuel adjustment, or service classification or by taxes or charges of any kind imposed thereon, or for any other reason (“Electrical Change”), then the Electrical Inclusion Factor, which is a portion of the fixed annual rent, shall be increased in the same percentage.
A survey may be made by Owner’s consultant which shall incorporate methods for the determination of the Electrical Inclusion Factor pursuant to Section A.
An additional component shall be added to the rate schedule hereafter referred to as “Electric Service Charge” which shall reflect an adjustment to the rate schedule at the rate of one cent per KWH to compensate the Owner for its cost related to servicing the Electrical Inclusion Factor.
In no event, however, shall the Electrical Inclusion Factor be decreased below the sum of $13,326.25 per annum.
At the time of the execution of this Lease, the Electrical Inclusion Factor is an agreed upon figure, not necessarily representing the true value of electricity being supplied to the Premises.