Expansion Rent definition

Expansion Rent shall have the meaning set forth in Section 5.5. --------------

Expansion Rent as used in this Section 3.1, shall be an amount calculated by multiplying the Expansion Costs times eleven percent (11%). The Expansion Rent is an annual amount of Minimum Rent payable in equal, monthly installments on the first day of each calendar month in the same manner as Base Building Monthly Minimum Rent Installments.

Expansion Rent is the product of: (a) the greater of (i) the ten (10) year U.S. Treasury Rate in effect on the Expansion Completion Date plus 500 basis points and (ii) 10.50%; multiplied by (b) the sum of (i) $2.25 per square foot of the Expansion Land; and (ii) the amount of the Final Budget; and (c) any other reasonably unforeseeable Expansion Costs incurred by Landlord that were not included in the Final Budget and that exceed the contingency contained therein.

Examples of Expansion Rent in a sentence

• If the Expansion Space Lease Commencement Date does not occur for any reason on or before (a) April 2, 2014 then, in addition to Tenant’s other remedies, the Expansion Rent Commencement Date shall be delayed by one (1) additional day for each day of delay beyond such date or (b) July 2, 2014 then, in addition to Tenant’s other remedies, at Tenant’s election, Tenant may withdraw its exercise of the expansion option.

• Tenant shall commence payment of Expansion Rent and the Excess with respect to the Expansion Space to Landlord upon that date (the “Expansion Space Rent Commencement Date”) which is one hundred eighty (180) days after the Expansion Space Lease Commencement Date.

• Tenant shall commence payment of Expansion Rent and the Excess with respect to the Expansion Space to Landlord upon that date (the “ Expansion Space Rent Commencement Date ”) which is one hundred eighty (180) days after the Expansion Space Lease Commencement Date.

• Tenant shall pay Base Rent and Additional Rent in accordance with the Lease until the Expansion Rent Commencement Date (defined below).

• Notwithstanding anything to the contrary in the Lease, the term of Tenant’s lease of the Existing Premises is hereby extended and shall expire conterminously with the term of Tenant’s lease of the Expansion Premises on the day prior to the fifth (5th) anniversary of the Expansion Rent Commencement Date, unless sooner terminated as provided in the Lease, as hereby amended (the “New Expiration Date”).

More Definitions of Expansion Rent

Expansion Rent. Tenant will receive abated rent for the expansion space from June 1, 2000 through May 31, 2001. Any and all operating expense charges will be assessed during this period. Rent for the expansion space will begin June 1, 2001 and will be at the same rate as the existing Lease rent. New Expansion Combined Rent Rate Per Foot - Exp. Term Rent Rent-Monthly #200/#300-Monthly 6/01/00-7/31/00 - $0.00 $0.00 Abated $3,895.00 8/01/00-5/31/01 - $0.00 $0.00 Abated $4,024.83 6/01/01-7/31/01 - $15.50 $7,455.50 $3,727.75 $7,752.58 8/01/01-7/31/02 - $16.00 $46,176.00 $3,848.00 $7,976.00 8/01/02-7/31/03 - $16.50 $47,619.00 $3,968.25 $8,252.75 8/01/03-7/31/04 - $17.00 $49,062.00 $4,088.50 $8,502.83

Expansion Rent. The rent xxx xxx xxpansion space, payable in accordance with the terms of the Lease Agreement, shall be $4,599.50 per month, through December 31, 1990, and $5,905.62 per month (plus CPI adjustment; see Section 13, Paragraph (a)) from January 1, 1991 through March 31, 0000, xxxx xxxx xx xxxxx as of the Commencement Date.

Expansion Rent. The rent for the expansion space, payable in accordance with the terms of the Lease Agreement, shall be $1,559.51 per month, through May 31, 1992. From June 1, 1992 through December 31, 1992, the rent shall be $5,816.88 per month or $0.8633 per square foot plus the adjustment in the CPI for Houston SMSA for the period from July 1991 to June 1992. The rental rate for all subsequent years (thru March 31, 1997) will be the adjusted base rate plus the annual adjustment in the CPI for Houston SMSA, not to exceed five percent (5%) per year, based on the previous 12 months.

Expansion Rent. The second sentence is hereby amended to read: From June 1, 1992 through December 31, 1992 the rent shall be $2,787.68 per month or $0,42437 per square foot plus the adjustment in the CPI for Houston SMSA for the period from July 1991 to June 1992. The rental rate for all subsequent years (thru March 31, 1997) will be the adjusted base rate plus the annual adjustment in the CPI for Houston SMSA not to exceed five percent (5%) per year based on the previous 12 months. The rent for the expansion space shall be adjusted when the $131,380.00 build-out allowance is funded and shall be calculated as follows: Present value: $131,380.00 Rate: Prime interest rate, at the beginning date of funding plus 1 1/2%.

Expansion Rent. The monthly rent for the 8,868 square foot Expansion, payable in accordance with the terms of the Lease Agreement, shall be $4,877.40 through March 31, 1997, or $0.55 per square foot. Such rent shall not be subject to C.P.I. escalation.

Expansion Rent. As defined in Section 3.5(b).

Expansion Rent means the additional Base Rent payable under the terms of this Rider over the Expansion Term for rental of the Expansion Premises (excluding Base Rent for the original Premises, which shall be adjusted as provided in Paragraph 5 of this Rider).