Net Rentable Area definition
Net Rentable Area means with respect to any Project, the floor area of any buildings, structures or improvements available for leasing to tenants (excluding storage lockers and parking spaces), as reasonably determined by the Administrative Agent, the manner of such determination to be consistent for all Projects unless otherwise approved by the Administrative Agent.
Net Rentable Area. With respect to any Real Estate, the floor area of any buildings, structures or other improvements available for leasing to tenants determined in accordance with the Rent Roll for such Real Estate, the manner of such determination to be reasonably consistent for all Real Estate of the same type unless otherwise approved by the Agent.
Net Rentable Area with respect to any Real Property, the floor area of any buildings, structures or improvements thereof (expressed in square feet) available for leasing to tenants, as determined in accordance with the leases or site plans or leasing plans for such Real Property, or if such leases or site plans or leasing plans do not set forth the floor area demised thereunder (or if such Real Property is not subject to a lease), then as determined by the Borrower in accordance with an industry-accepted protocol approved by the Administrative Agent.
Examples of Net Rentable Area in a sentence
Thereafter, the Annual Basic Rent, and Tenant’s Operating Expense Share and Tenant’s Tax Share shall be calculated based on the Net Rentable Area of the Leased Premises not so taken or condemned.
For any period and with respect to any of the Data Center Properties, an amount equal to $0.25 multiplied by the Net Rentable Area of the Data Center Properties owned at the end of the applicable reporting period.
Lessee’s Ratable Share may be adjusted during the Lease Term to reflect any increases or decreases in the Total Net Rentable Area of the Buildings.
A tenant of the Borrower or any Subsidiary Guarantor which leases space in a Pool Property pursuant to a Lease which entitles it to occupy forty percent (40%) or more of the Net Rentable Area of such Pool Property.
Each Quarterly Availability Report shall list (a) the location of the Property or Affiliate Owned Property at which the space is available, (b) the approximate Net Rentable Area of the available space at each property, (c) the anticipated date of availability and (d) the approximate base rent and estimated additional rent (and other charges) to be paid therefor.
More Definitions of Net Rentable Area
Net Rentable Area means the area or areas of the space within the Building determined as follows:
Net Rentable Area as used herein, shall refer to: (i) in the case of a single tenancy floor, all floor area measured from the inside surface of the outer glass or finished column wall of the Building to the inside surface of the opposite outer wall excluding only the service areas ("Service Areas") within the outside walls used for building stairs, fire towers, elevator shafts, flues, vents, stacks, pipe shafts and vertical ducts, but including any such Service Areas which are for the specific use of the particular tenant such as special stairs or elevators plus an allocation of the square footage of the Building's elevator mechanical rooms and ground floor and basement lobbies (if applicable), and (ii) in the case of a floor to be occupied by more than one tenant, all floor areas within the inside surface of the outer glass or finished column walls enclosing the Leased Premises and measured to the mid-point of the walls separating areas leased by or held for lease to other tenants or from areas devoted to corridors, stairwells, elevator foyers, rest rooms, mechanical rooms, janitor closets, vending areas and other similar facilities for the use of all tenants on the particular floor (hereinafter sometimes called "Common Areas"), but including a proportionate part of the Common Areas located on such floor based upon the ratio which the tenant's net rentable area (excluding Common Areas) on such floor bears to the aggregate net rentable area (excluding Common Areas) on such floor plus an allocation of the square footage of the Building's elevator mechanical rooms and ground floor and basement lobbies (if applicable). No deductions from net rentable area shall be made for columns or projections necessary to the Building. The net rentable area in the Leased Premises has been calculated on the basis of the foregoing definition and is hereby stipulated for all purposes hereof to be 5,420 Rentable square feet, whether the same should be more or less as a result of minor variations resulting from actual construction and completion of the Leased Premises for occupancy so long as such work is done substantially in accordance with the terms and provisions hereof. Lessee agrees that, except as expressly stated herein, no representations or warranties with respect to the condition of the Premises and no promises to decorate, alter, repair or improve the Premises have been made by Lessor, and Lessee agrees to accept the Premises in an "AS IS WHERE IS" condition as tendered by Lessor.
Net Rentable Area as used herein, shall refer to (i) in the case of a single tenancy floor, all floor area measured from the inside surface of the outer glass wall of the Building to the inside surface of the opposite exterior glass wall, excluding only the areas (“Service Areas”) within the exterior glass walls used for Building stairs, elevator shafts, flues, vents, stacks, pipe shafts and vertical ducts, but including any Service Areas which are for the specific use of the particular tenant such as special stairs or elevators, and (ii) in the case of a partial floor, all floor areas within the inside surface of the outer glass wall enclosing the portion of the Premises on such floor and measured to the mid-point of the walls separating areas leased by or held for lease to other tenants or from areas devoted to corridors, elevator foyers, rest rooms, mechanical rooms, janitor closets, vending areas and other similar facilities for the use of all tenants on a particular floor (herein sometimes called “Common Areas”), but including a proportionate part of the Common Areas located on such floor based upon the ratio which the Lessee’s Net Rentable Area on such floor (determined by excluding such Common Areas) bears to the aggregate Net Rentable Area on such floor (determined by excluding such Common Areas). No deductions from Net Rentable Area are made for columns or projections necessary to the Building. The Net Rentable Area in the Premises as set forth above has been calculated on the basis of the foregoing definition from dimensions shown on the plans for the building and shall be binding, whether the actual area should be more or less as a result of minor variations resulting from actual construction and completion of the Premises for occupancy so long as such work is done in accordance with the terms and provisions hereof.
Net Rentable Area. With respect to any Real Estate, the “Net Rentable Operating Square Footage” as defined in REIT’s most recent Form 10-K.
Net Rentable Area means, as applicable, the net rentable areas of the Leased Premises and the Buildings, determined in conformity with the Measurement Standard. The Net Rentable Areas of the Leased Premises and the Buildings are as specified in Exhibit A.
Net Rentable Area means (1) in the case of a single tenancy floor, all floor area measured from the inside surface of the outer glass of the Building, excluding only the areas (“Service Areas”) within the outside wall used for the Building’s stairs, fire towers, elevator shafts, vertical penetrations of the Building’s central atrium, flues, vents, stacks, pipe shafts, and vertical ducts (which areas shall be measured from the mid-point of walls enclosing such areas, but including any Service Areas which are for the specific use of the particular tenant, such as special stairs or elevators, plus an allocation of the square footage of the Building’s central areas for providing telephone, electrical, mechanical, janitorial, security and mail services, as well as, the central entry lobby, ground level elevator lobby and service elevator lobby, central fire exit corridors, service exit corridor and central loading dock (the “Central Areas”), and (2) in the case of a floor to be occupied by more than one tenant, all floor areas within the inside surface (with respect to the Premises) of the glass and to the midpoint of the walls separating areas leased by or held for lease to other tenants or from the Common Areas, but including a proportionate part of the Common Areas located on such floor based upon the ratio which Tenant’s Net Rentable Area (excluding Common Areas) on such floor bears to the aggregate Net Rentable Area (excluding Common Areas) on such floor, plus an allocation of the square footage of the Building’s Central Areas. In the case of both single and multiple tenant floors, telephone, electrical, mechanical, maintenance, janitorial or security rooms not included in the Building’s Central Areas but which serve more than one floor shall be considered Common Areas and shall be allocated among all tenants whose premises are served thereby, regardless of whether such premises are located on the same floor as the rooms in question. Such allocation shall be made in accordance with the proportion of the Net Rentable Area so served. No deductions from Net Rentable Area shall be made for columns or projections necessary to the Building.
Net Rentable Area means, with respect to any Real Estate, the “Net Rentable Operating Square Footage” as defined in the Parent’s most recent Form 10-K.