Lessee’s Proportion definition

Lessee’s Proportion means the proportion of Outgoings payable by the Lessee in accordance with clause 2.3 or clause 2.4;
Lessee’s Proportion means the proportion from time to time that the net lettable floor area of the Premises bears to the net lettable floor area of the Building provided that the Lessor may at any time to the extent permitted by law:
Lessee’s Proportion means the proportion that the net lettable are of the Premises bears to the net lettable area of the Building, being the percentage in item 15 of the Reference Schedule (or any other corrected or recalculated percentage notified in writing by the Lessor to the Lessee from time to time).

Examples of Lessee’s Proportion in a sentence

  • If the Lessee’s Proportion of Variable Outgoings includes any tax on goods or services, the Lessee must pay that tax.

  • If the Premises are not separately assessed in respect of Rates and Taxes, the Lessor must issue to the Lessee a statement giving reasonable details of the Rates and Taxes and the calculation of the Lessee’s Proportion of Rates and Taxes.

  • Lessee’s Proportion means the proportion of the Outgoings specified in Item 7 which represents that proportion which the net rentable area of the Premises bears to the net rentable area of the Building.

  • In addition to Rent the Lessee shall pay to the Lessor the Lessee’s Proportion of any difference between the Outgoings actually accrued for that Accounting Period and the Base Year by equal monthly instalments based on the Lessor’s estimate of the Outgoings for each Accounting Period.

  • If there is a material variation in the Lettable Area of the Building, the Lessor may re-calculate the Lessee’s Proportion at any time.

  • The Lessee’s Proportion of Rates and Taxes and the Lessee’s Proportion of Variable Outgoings for the Preliminary Period and the Final Period will be apportioned on a daily basis in respect of periods of less than TWELVE (12) months.

  • Where a Supply is not separately supplied to the Lessee, the liability of the Lessee for any amount for GST in relation to that Supply is determined on the same basis as the Lessee’s Proportion of Variable Outgoings is determined.

  • Subject to clause 3.3, if the Lessor notifies the Lessee of the Lessee’s Proportion of the Lessor’s estimate of Outgoings, the Lessee must pay the Lessee’s Proportion of the estimate to the Lessor during the period to which the estimate relates by equal monthly instalments.

  • If in any Lease Year the amount paid by the Lessee under clause 9.6 above exceeds the Lessee’s Proportion of Variable Outgoings, the Lessor must credit to the Lessee the overpayment except at the end of the Final Period when the Lessor must pay the overpayment to the Lessee within TEN (10) Business Days of service by the Lessor on the Lessee of the statement of Variable Outgoings disclosing the overpayment.

  • The Lessor will, within 28 days following prior written notice given by the Lessee, during normal business hours or as otherwise agreed, permit and provide persons ( Auditors) nominated by the Lessee supervised access to the Lessor’s books, records, documents and other relevant information in respect of Outgoings to verify correct calculation of the Outgoings and the Lessee’s Proportion in accordance with the provisions of this Lease (Audit).


More Definitions of Lessee’s Proportion

Lessee’s Proportion means the proportion that the net lettable are of the Premises bears to the net lettable area of the Building, being the percentage in item 16 of the Reference Schedule (or any other corrected or recalculated percentage notified in writing by the Lessor to the Lessee from time to time).
Lessee’s Proportion means the Lettable Area of the Premises divided by the total Lettable Area of the Building which, on the Commencing Date, is the percentage specified in Item 9.
Lessee’s Proportion means the proportion expressed as a percentage which the Lettable Area of the Premises bears to the Lettable Area of the Commercial Component of the Office Tower such proportion being as specified in Item 6 and varied from time to time under clause 5.4.
Lessee’s Proportion shall be calculated as follows: “Area of the Demised Premises as described in Exhibit ‘D’ (25875 square feet) / Total Area of Property (359,554) square feet)
Lessee’s Proportion means the percentage in Item 12.

Related to Lessee’s Proportion

  • Tenant’s Proportionate Share is, subject to the provisions of this Paragraph 3, the percentage number described in Item 4 of the Basic Lease Provisions. Tenant's Proportionate Share represents a fraction, the numerator of which is the number of square feet of Rentable Area in the Premises and the denominator of which is the number of square feet of Rentable Area in the Project, as determined by Landlord pursuant to Subparagraph 2(d) above.

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of One hundred Sixty-eight million dollars ($168,000,000.00).

  • Lessee's Share is defined, for purposes of this Lease, as the percentage set forth in paragraph 1.10 of the Basic Lease Provisions, which percentage has been determined by dividing the approximate square footage of the Premises by the total approximate square footage of the rentable space contained in the Office Building Project. It is understood and agreed that the square footage figures set forth in the Basic Lease Provisions are approximations which Lessor and Lessee agree are reasonable and shall not be subject to revision except in connection with an actual change in the size of the Premises or a change in the space available for lease in the Office Building Project.

  • Direct Expenses means “Operating Expenses” and “Tax Expenses.”

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.

  • Building Operating Expenses means the portion of "Operating Expenses," as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

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

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Base Operating Costs means Operating Costs for the calendar year specified as the Base Year in the Basic Lease Information (excluding therefrom, however, any Operating Costs of a nature that would not ordinarily be incurred on an annual, recurring basis).

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • Controllable Operating Expenses means all Operating Expenses except real property taxes, all forms of insurance, utility expenses, costs of services provided under a union contract, payments under CC&R’s or to an owners’ association and costs associated with repairs due to casualty, vandalism or other source outside of Landlord’s reasonable control.

  • Tax area means a geographic area created by the overlapping boundaries of one or more taxing entities.

  • Base Operating Expenses means the Operating Expenses for the Base Year.

  • Tenant’s Pro Rata Share are both subject to adjustment as provided in this Lease. Definition or Provision Means the Following (As of the Term Commencement Date} Approximate Rentable Area of Premises 11,173 square feet Approximate Rentable Area of Project 67,998 square feet Tenant’s Pro Rata Share of Project 16.43%

  • Uncontrollable Forces means any event which results in the prevention or delay of performance by a party of its obligations under this Agreement and which is beyond the reasonable control of the nonperforming party. It includes, but is not limited to fire, flood, earthquakes, storms, lightning, epidemic, war, riot, civil disturbance, sabotage, and governmental actions.

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following:

  • estimated consumption means the consumption that a customer, whose consumption is not measured during a specific period, is deemed to have consumed and that is estimated by taking into account factors that are considered relevant by the Municipality and which may include the consumption of municipal services by the totality of the users of a service within the area where the service is rendered by the Municipality, at the appropriate level of service, for a specific time;

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • Insurance Expenses means any Insurance Proceeds (i) applied to the repair of the related Leased Vehicle, (ii) released to the related Lessee in accordance with applicable law or the Customary Servicing Practices or (iii) representing other related expenses incurred by the Servicer that are not otherwise included in Liquidation Expenses or Disposition Expenses and recoverable by the Servicer under any applicable Servicer Basic Documents.

  • Uncontrollable Circumstance means any event which:

  • economic operators means the manufacturer, the authorised representative, the importer and the distributor;

  • Uncontrollable Force means any cause beyond the control of the Borrower, including:

  • Controllable Expenses means all expenses, other than Uncontrollable Expenses, incurred by the Company or any Subsidiary of the Company with respect to the Property.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Base Year means the period set forth in Section 5 of the Summary.