GROSS-UP PROVISION definition

GROSS-UP PROVISION. If less than ninety-five percent (95%) of the net rentable area of the Building is occupied by tenants at all times during any Year (including the Base Year), then Operating Costs for such Year may include all additional costs and expenses that Landlord reasonably determines would have been incurred had ninety-five percent (95%) of the Building been occupied at all times during such Year by tenants. The extrapolation of Operating Costs provided for herein shall be performed by appropriately adjusting the costs of those components of Operating Costs that fluctuate as a result of changes in the level of occupancy in the Building.
Sample 1
GROSS-UP PROVISION. If less than ninety-five percent (95%) of the net rentable area of the Building is occupied by tenants at all times during any Year (including the Base Year), then Operating Costs for such Year may include all additional costs and expenses that Landlord reasonably determines would have been incurred had ninety-five percent (95%) of the Building been occupied at all times during such Year by tenants.
Sample 1

Examples of GROSS-UP PROVISION in a sentence

  • THE ONLY CHANGE IS IN THE LAST PARAGRAPH ON PAGE 2 OF THE CURRENT SUMMARY TO CLARIFY THE "GROSS-UP" PROVISION OF THE PROGRAM.

  • THIS "GROSS-UP" PROVISION WAS ALWAYS PROVIDED UNDER THE PROGRAM, BUT WAS INADVERTENTLY OMITTED FROM THE DESCRIPTION OF THE PROGRAM THAT WAS ISSUED IN JUNE 2000.

Related to GROSS-UP PROVISION

  • Gross-Up Payment shall have the meaning set forth in Section 6.2 hereof.

  • Gross-Up Amount has the meaning set forth in definition of “Make Whole Amount.”

  • Early Termination Amount means, in respect of any Note, its principal amount or such other amount as may be specified in, or determined in accordance with, these Conditions or the relevant Final Terms;

  • Automatic Early Termination provision of Section 6(a) will not apply to Party A and will not apply to Party B.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Excise Tax means the excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax.

  • Reciprocal Compensation means an arrangement between two carriers in which each receives compensation from the other carrier for the transport and termination on each carrier's network of Local Traffic, as defined in Section 1.12 above, that originates on the network facilities of the other carrier.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Early Termination Payment is defined in Section 4.3(b) of this Agreement.

  • Early Termination Rate means the lesser of (i) 6.5% per annum, compounded annually, and (ii) LIBOR plus 100 basis points.

  • Change in Control Benefits means the following benefits:

  • Section 415 Compensation means:

  • Total Payments means those payments so described in Section 6.2 hereof.

  • Compensation Accrued at Termination means the following:

  • Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

  • Termination Benefit means the benefit set forth in Article 7.

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Early Termination Fee has the meaning set forth in Section 7.2.

  • statutory provision means a provision of an Act or of an instrument made under an Act.

  • Early Termination means the Termination of Employment before Normal Retirement Age for reasons other than death, Disability, Termination for Cause or following a Change of Control.

  • Spendthrift provision means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary's interest.

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.

  • Early Termination Effective Date is defined in Section 4.2 of this Agreement.

  • Final compensation of a member means:

  • Early Termination Charge means, with respect to any 2016-B Lease that is terminated prior to its Maturity Date, an amount equal to the lesser of (a) the present value (discounted at the implicit rate of such 2016-B Lease) of all remaining Monthly Payments and (b) the excess, if any, of the adjusted 2016-B Lease balance over the related 2016-B Vehicle’s fair market wholesale value in accordance with accepted practices in the automobile industry (or by written agreement between the Servicer, on behalf of the Titling Trust, and the Lessee).