Examples of Expense Rent in a sentence
Any such holding over to which Landlord has consented shall be construed to be a tenancy from month to month, on the same terms and conditions herein specified insofar as applicable, except that the Expense Rent shall be increased to an amount equal to one hundred fifty percent (150%) of the fair market rent for the Leased Premises.
Commencing on the first day of the first month following the Lease Commencement Date (the "Rent Commencement Date") and continuing on the first day of each month thereafter throughout the Lease Term, to the extent not required by Landlord to be contracted for and paid directly by Tenant, Tenant shall pay to Landlord as rent an amount equal to Tenant's Pro Rata Share of all Expenses (as defined in Article 1) incurred by Landlord (the "Expense Rent").
If Tenant shall have paid more than its obligation for such Expenses for the stated period, Landlord shall, at its election, either (i) credit the amount of such overpayment toward the next ensuing payment or payments of Expense Rent that would otherwise be due (provided that the Lease has not expired or otherwise terminated) or (ii) refund in cash to Tenant the amount of such overpayment.
Lessor shall maintain, repair and keep in good order all of the Common Areas, including without limitation landscape maintenance and replacement, mowing, snow removal, trash removal, and repair, resurfacing and restriping as necessary of the Parking Areas, and the costs thereof shall be included within Operating Expenses, and Lessee’s share thereof shall be reimbursed to Lessor by payment of the Operating Expense Rent due from Lessee hereunder.
Within 90 days after the close of each calendar year or as soon after such 90 day period as practicable, Landlord will deliver to Tenant a statement of amounts of Operating Expense Rent and Shared Facilities Operating Expense Rent payable under this Lease for such calendar year.
If Tenant holds possession of the Demised Premises after the Term of this Lease, at the option of Landlord, Tenant shall become a tenant from month-to-month, at a monthly basic rental equal to three (3) times the sum of (i) the Monthly Basic Rent payable for the last month of the Term, and (ii) one twelfth (1/12th) of Property Expense Rent.
For each calendar year following the Base Year, an amount ("Expense Rent") equal to the Tenant's Percentage Share of the amount by which (A) the Building's Share of Operating Expenses for such calendar year, exceeds (B) the Building's Share of Operating Expenses for the Base Year.
LESSEE shall indemnify LESSOR against all loss of Annual Base Rent, Additional Operating Expense Rent, and Additional Tax Escalation Rent and all other payments which LESSOR may incur by reason of such termination during the remainder of the Lease Term, it being expressly understood that LESSOR shall use reasonable efforts to relet the Leased Premises and collect all rents from such reletting.
Except as expressly provided herein, there shall be no abatement, diminution or reduction of Fixed Rent, Expense Rent or Additional Rent or other charges or other compensation due to the Landlord by Tenant or any person claiming under it under any circumstances, including, but not limited to, any inconvenience, discomfort, interruption of business or otherwise.
An overcharge of Expense Rent by Landlord shall not entitle Tenant to terminate this Lease.