NNN Charges definition

NNN Charges shall have the meaning set forth in Section 2.6 hereof.

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NNN Charges. Estimated NNN charges are $7,840.40 per month ($.▇▇▇▇▇▇.▇▇ ----------- including property taxes and assessments included in the tax ▇▇▇▇).

NNN Charges. This is a triple net lease. Tenant's share of NNN costs is 43.7

Examples of NNN Charges in a sentence

Tenant agrees that any such early entry is subject to all of the terms and conditions of this Lease, except for those relating to the payment of Basic Rent, NNN Charges and any additional rent and other recurring monetary obligations which have a specific commencement time, which provisions will become applicable in accordance with the terms of this Lease; provided, however, Tenant shall pay for utilities and janitorial/trash services provided to the Premises from and after the Delivery Date.
Tenant shall pay, as additional rent, such estimated expenses as part of the NNN Charges concurrent with its payment of Basic Rent.
If such audit discloses an overpayment by Tenant, Tenant shall receive a credit against Tenant's future NNN Charges in the amount of such overpayment until exhausted, or in the event such overpayment is determined following the expiration or earlier termination of this Lease, such overpayment shall be paid by Landlord to Tenant within thirty (30) days after such determination is made.
The NNN Charges shall include a property management fee (the "Management Fee"), and such Management Fee shall not exceed $2,000 per month during the first year of the initial Term of this Lease, and shall not increase more than three percent (3%) per year thereafter.
Landlord shall give to Tenant following the end of each Expense Year, a statement (the “Statement“) which shall state the Operating Expenses, Insurance Expenses, Utility Expenses and Tax Expenses incurred or accrued for such preceding Expense Year, and which shall indicate the amount of the NNN Charges.
Purchaser need not attempt to collect rents that are more than ninety days delinquent and the foregoing obligation of Purchaser to remit any amounts in respect thereof to Sellers shall also terminate ninety days after the Closing Date, except as to recovery of 2004 NNN Charges, which shall terminate on December 31, 2005.
No benefits shall be payable hereunder unless there shall have been a Change in Control of the Corporation, as set forth below.
In the event that any final audit report reflects that Landlord has overstated NNN Charges by more than 5%, Landlord shall reimburse Tenant for the reasonable costs of such audit, not to exceed $2,500.00.
Upon receipt of the Statement for each Expense Year during the Lease Term, Tenant shall pay, with its next installment of Base Rent due (or within thirty (30) days of receipt if the Lease Term has expired prior to Tenant’s receipt of the Statement), the full amount of Tenant’s Share of the NNN Charges for such Expense Year, less the amounts, if any, already paid by Tenant during such Expense Year as Estimated NNN Charges.
Notwithstanding the foregoing, Tenant shall pay one (1) month of Base Monthly Rental together with estimated NNN Charges for the first full rent paying month of the Term upon Tenant’s execution of the Lease and such payment shall be credited to the first Base Monthly Rental and NNN Charges due.

More Definitions of NNN Charges

NNN Charges means Tenant's proportionate share (based on the square footage of the Premises divided by the total square footage of all building area in the Shopping Center leased or available for lease is 58,731 SF) of all charges and expenses paid or incurred in good faith by Landlord in operating, supervising, managing, administering, maintaining, repairing, replacing, insuring, and paying taxes and insurance on, the Shopping Center, including such reasonable reserves against future such expenses as Landlord deems necessary or advisable. NNN Charges do not, however, include expenses for which Landlord is otherwise reimbursed or indemnified (for example, losses covered by insurance); principal or interest on any encumbrance; tenant improvements or leasing commissions; or overhead and administrative costs of Landlord not directly incurred in the operation and maintenance of the Shopping Center. Tenant portion of expenses shall be calculated at 12.57% of total CAM expenses each year. All and any services or management performed in connection with the Shopping Center may be provided by independent contractor(s). Within ninety (90) days after the end of each calendar year of the Lease term, Landlord shall deliver to Tenant a statement setting forth, in reasonable detail, the Building Expenses paid or incurred by Landlord during the preceding calendar year and Tenant's pro rata share thereof. Upon receipt of such statement, there shall be an adjustment between Landlord and Tenant, with payment to or credit given by Landlord (as the case may be) so that Landlord shall receive the entire amount of Tenant's pro rata share of such costs and expenses for such period. Current expenses are estimated at $1.35 per SF, which includes CAM, Taxes and Insurance. The Landlord hereby warrants and represents that the NNN expense currently being charged to the Tenant is sufficient to cover all additional expenses being assessed to the Tenant. The Landlord further represents there have been no special assessments charges to the tenant of the premises during the last 5 years.

NNN Charges. The initial estimated NNN Charges are Nine Thousand Eight Hundred and 50/100 ($9,800.50) per month (capped at $0.10 per sq. ft. per month for the first year) payable on the first day of each month. NNN charges for the period of July 1, 2004 through July 31, 2004 shall be paid upon execution of this Lease. (See also Paragraph 4)