Holdover Premium definition

Holdover Premium means the lesser of the following: (i) $27,320.42; or (ii) the amount, if any, by which the rental for the premises currently occupied by Tenant that is due for the month of April, 1999 (determined in accordance with the good faith arrangements in effect between Tenant and its current landlord) exceeds $27,320.42. Subject to the obligation of Landlord to pay any Holdover Premium to Tenant, any termination of this Lease by Tenant pursuant to this subparagraph shall be Tenant's sole and exclusive remedy for Landlord's failure to complete the such work and tender possession of the Premises to Tenant.
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Holdover Premium means the amount of base rent and operating expenses per month plus any increase in parking costs, which is the penalty amount required to be paid by Tenant over and above the amount of base rent and operating expenses (plus parking costs) that is otherwise payable by Tenant each month during the last year of the term under Tenant’s Existing Lease on account of Tenant holding over in the Existing Premises; provided, however, that if Current Landlord is willing to accept a lower rent than that otherwise required by Tenant’s Existing Lease, then the Holdover Premium shall be reduced accordingly. If Tenant agrees to any amendments or modifications to Tenant’s Existing Lease which in any way increases or results in an increase in the Holdover Premium, Tenant shall be solely responsible for paying the increased portion of such Holdover Premium. Notwithstanding the foregoing, if Landlord’s failure to timely Deliver the Initial Premises to Tenant (other than as a result of Tenant Delays and/or Force Majeure) results in the Commencement Date of this Lease occurring beyond the expiration date of the term of Tenant’s Existing Lease and the Current Landlord does not permit Tenant to hold over in the Existing Premises, Landlord shall reimburse Tenant for the reasonable monthly costs incurred by Tenant, in excess of the monthly rent and parking costs that was payable under or in connection with Tenant’s Existing Lease immediately prior to the expiration of Tenant’s Existing Lease, to lease temporary offices in the Seattle area until the Commencement Date, together with reasonable costs incurred in connection with the relocation to such temporary offices (collectively herein, the “Substitution Lease Costs”). Landlord shall from time to time, within 30 days after written demand along with reasonable invoices and evidence of payment from Tenant, reimburse Tenant for the Holdover Premium and Substitution Lease Costs, as such costs are incurred by Tenant. Upon request of either party hereto, Tenant and Landlord shall promptly execute and deliver a written acknowledgment of the Delivery Date, Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit C; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder, and Landlord’s failure to execute and deliver such acknowledg...
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Holdover Premium means the excess, if any, of: (x) the amount which Tenant is actually required to pay to the Existing Landlord with respect to Tenant’s occupancy under the Existing Lease during the Holdover Period pursuant to the Existing Lease, over (y) the amount which Tenant would have been required to pay to the Existing Landlord with respect to its occupancy of the Existing Premises during the Holdover Period had the term of the Existing Lease been extended for the Holdover Period at the same fixed rental and other charges payable by Tenant to the Existing Landlord immediately prior to the commencement of the Holdover Period. In no event shall the Holdover Premium include consequential, incidental, indirect, or other damages, or loss of income or loss of profit, whether claimed by the Existing Landlord or anyone else.
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Examples of Holdover Premium in a sentence

  • In no event shall the Holdover Premium required to be paid by Landlord exceed $144,192.10 per month of the Holdover Period.

  • For the purposes hereof, “Tenant’s Holdover Damages” shall be equal to the Holdover Premium, as hereinafter defined, payable by Tenant to its Existing Landlord, as hereinafter defined, during the Holdover Period.

  • The "Holdover Premium" shall be the amount of rent required to be paid by Tenant to its current landlord during the Holdover Period which is at a rate that is in excess of the rate payable immediately prior to the end of Tenant's existing lease (i.e., the rate payable during December, 2017).

  • In the event that any increased holdover rental or other premium is charged to Sublandlord under a Replacement at the expiration or earlier termination of the term or maturity date thereof (herein, collectively, a "Holdover Premium"), if Subtenant is then in possession of the Subleased Premises or any portion thereof, Subtenant shall be required to pay Subtenant's Building Share thereof.

  • Landlord shall make the foregoing reimbursement within thirty (30) days following Tenant's tender to Landlord of evidence of its payment of the Existinx Xxxxe Holdover Premium together with an invoice from landlord under the Existing Lease for the Existing Lease Holdover Premium.

  • Tenant represents and warrants to Landlord that the Holdover Premium shall be due and payable by Tenant under Tenant’s Existing Lease if Tenant holds over.

  • Upon any termination of this Lease as provided in this Section 2(b), Landlord shall return the Security Deposit and prepaid Rent to Tenant and neither party shall have any further rights or obligations hereunder except for accrued Holdover Premium and Substitution Lease Costs and those obligations that expressly survive the termination of this Lease.

  • If Tenant agrees to any amendments or modifications to Tenant’s Existing Lease which in any way increases or results in an increase in the Holdover Premium, Tenant shall be solely responsible for paying the increased portion of such Holdover Premium.

  • Tenant’s election to terminate this Lease shall be its sole and exclusive remedy at law and in equity, excluding however the payment of Holdover Premium and Substitution Lease Costs accrued as of the date of the termination of this Lease.

  • The difference between the Existing Lease Holdover Rent and the Current Existing Lease Rent is referred to herein as the "Existing Lease Holdover Premium".

Related to Holdover Premium

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Base Rent As defined in Section 3.1.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Additional Rental has the meaning set forth in Section 4.03.

  • Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.

  • Minimum Rent means Forty-Four Million Four Hundred Eleven Thousand Six Hundred Eighteen and 00/100ths Dollars ($44,411,618.00), subject to adjustment as provided in Section 3.1.1(b).

  • Annual Premium means an amount specified in the Schedule, which is payable under the annual Premium payment mode under this Policy, excluding Extra Premium, if any and excluding service tax or any other taxes, cesses or levies, if any;

  • Percentage Rent As defined in Subsection 3.1(b).

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Sublease Payment means any payment required to be made by the District pursuant to Article 7 of the Sublease.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.