Examples of Net Effective Rental Rate in a sentence
The term "Net Effective Rental Rate" shall mean the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions contained in the First Refusal Notice.
If Landlord desires to lease such Refusal Space at a Net Effective Rental Rate (hereinafter defined) less than ninety percent (90%) of the Net Effective Rental Rate offered to Tenant in the related Third Party Offer Notice or the size or configuration of the Refusal Space changes in any material respect, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms or adjusted Refusal Space.
If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety-five percent (95%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Building 10 Offer Space Notice hereunder on such lower terms.
At any time during the term of the Loan, Administrative Agent and/or any Lender may request confirmation from Borrower of the xxxxxxxxx xxxxxx footage of net rentable area at the Property that is leased pursuant to Leases of less than 15,000 square feet executed by Borrower without Administrative Agent’s consent and under which the Net Effective Rental Rate is less than eighty-five percent (85%) of the amount assumed for such Lease in the then most recent Appraisal.
For example, for office space at the Roundhouse Plaza in the northern waterfront, the proposed Minimum Initial Lease Rental Rate range is $2.75-3.25 per square foot, per month and the proposed Minimum Net Effective Rental Rate range is $2.50-3.00 per square foot per month.