RENTAL ESCALATION definition

RENTAL ESCALATION. In the event operating expenses (as defined below) of Lessor upon the land and building, including parking area, of which the Leased Premises are part, shall in any calendar year, exceed the sum of $4.16 per square foot (based on net rentable square feet comprising the Building), the upon written notice to the Lessor, the Lessee agrees to pay as additional rental, Lessee's probata share of such operating expenses in excess of $4.
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RENTAL ESCALATION is unchanged.
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Examples of RENTAL ESCALATION in a sentence

  • Such additional rent shall be in addition to Lessee's obligations, pursuant to the section of this Lease entitled "RENTAL ESCALATION FOR INCREASES IN EXPENSES," to pay its proportionate share of increases in Operating Costs.

  • Lessee's obligation to pay as a part of rent for the Demised Premises, its proportionate share of the increases in operating expenses for the Building as set forth in the section of the Lease entitled "RENTAL ESCALATION FOR INCREASES IN EXPENSES" shall remain unchanged.

  • If this Lease is so canceled, Lessor, by such cancellation action, shall be liable under the Original Lease for all Monthly Rent and additional rent arising under the Section of the Original Lease entitled "RENTAL ESCALATION FOR INCREASES IN EXPENSES," which would have accrued from and after January 1, 1997, but for the termination of the Original Lease.

  • Monthly rent attributable to the Metro Level Space Expanded shall be payable as provided for in the Lease and shall be subject to escalation as provided in the section of the Lease entitled, "RENTAL ESCALATION FOR INCREASES IN EXPENSES," as the same may be amended by this Lease Addendum No. 2.

  • Monthly rent shall be subject to escalation as provided in the section of the Lease entitled "RENTAL ESCALATION FOR INCREASES IN EXPENSES," as the same may be amended by this Lease Addendum.

  • If Lessee properly exercises its options, the terms of this Lease (including without limitation the provisions of the Section entitled RENTAL ESCALATION FOR INCREASE IN EXPENSES) shall continue in full force and effect during said additional term or terms.

  • Lessee's obligation to pay as a part of rent for the Demised Premises, its proportionate share of the increases in operating expenses for the Building as set forth in the section of the Lease entitled, "RENTAL ESCALATION FOR INCREASES IN EXPENSES" shall remain unchanged.

Related to RENTAL ESCALATION

  • De-escalation means the use of a behavior management technique that helps a student increase the student’s control over the student’s emotions and behavior and results in a reduction of a present or potential level of danger that in turn reduces the level of imminent danger of serious physical harm to the student or others.

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.

  • Market Rent as used herein, shall be that rent charged for comparable research laboratory and office space of similar age and condition in laboratory buildings in the mid-Cambridge submarket as of the end of the First Extended Term. If, after good faith attempts, the Lessor and Lessee cannot agree on a figure representing Market Rent within thirty (30) days after Lessee has delivered the Extension Notice, then either party, upon written notice to the other, may request appraisal and arbitration of the issue as provided in this section. Within fourteen (14) days of the request for arbitration, each party shall submit to the other the name of one unrelated individual or entity with proven expertise in the leasing of commercial real estate in greater Boston/Cambridge to serve as that party’s appraiser. Each appraiser shall be paid by the party selecting him or it. The two appraisers shall each submit their final reports to the parties within thirty (30) days of their selection making their determination as to Market Rent (subject however, to the Extension Rent Floor). The two appraisers shall meet within the next fourteen (14) days to reconcile their reports and collaboratively determine the Market Rent. They shall each make their determination in writing (subject however, to the Extension Rent Floor), including a statement if such is the case, that they are at an impasse. Such a statement of impasse shall be submitted to the parties along with the Market Rent figure which each appraiser has selected and his reasons and substantiation therefor. The appraisers, in case of an impasse, shall also agree on one unrelated individual or entity with expertise in commercial real estate in greater Boston, who shall evaluate the reports of the two original appraisers and within fourteen (14) days of submission of the issue to him, make his own determination as to a figure representing Market Rent (subject however, to the Extension Rent Floor). The determination of this individual or entity (i.e. arbitrator) absent, fraud, bias or undue prejudice shall be binding upon the parties. Annual Base Rent and Additional Rent during any Extended Term shall be payable in advance, in equal monthly installments on the first day of each calendar month. Lessee, in addition to the sums payable annually to Lessor as Annual Base Rent, shall pay to Lessor for each year of the Second Extension Period, as Additional Rent, Lessee’s Allocable Percentage (as determined by the approximate total rentable space leased) for Operating Expenses, Real Estate Taxes and utilities as contemplated in Section 4 hereof (and as may be impacted by Section 8 hereof).

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent