NRSF definition
Examples of NRSF in a sentence
This Right is not applicable if either: a) Tenant does not occupy a minimum of 60,000 NRSF in the Building, or b) the commencement date of such new lease would occur within the last 3 years of Tenant's lease term, or any subsequent renewal terms.
Right is currently not applicable, as Tenant occupies less than 60,000 NRSF in the Building.
If such a reduction in the NRSF attributable to the Citadel Lease as an Approved Lease would cause the Borrower to fail to satisfy the leasing hurdle conditions set forth in the definition of "Leasing Hurdle Date", then with respect to Advances made after such failure, the IRR Amount and the Make-Whole Amount shall be computed at the Applicable Pre-Hurdle Percentage until the applicable leasing hurdle conditions have been satisfied once again.
Until such time as the NRSF is determined and an amendment executed, Tenant shall pay all amounts payable hereunder, including but not limited to Base Rent in accordance with the terms hereof.
The Approved NRSF is equal to or less than 252,000 but greater than 216,928: For example, the Approved NRSF is assumed to be 220,000.
In the event that some or all of the additional storage space is permitted and built-out, or the interior build-out yields more than 68,933 NRSF (68,250 NRSF plus 1%), then the Purchase Price shall be increased by One Hundred Ninety Four Dollars ($194) per NRSF of additional storage space (above 68,250 NRSF) constructed by Seller.
The minimum base rent (“Base Rent”) for the Term is $19.75 per NRSF payable in monthly installments on the first day of each month.
Any upgrades in the Building design and systems required by Tenant’s desired occupancy of up to six (6) persons per 1,000 NRSF shall be paid for by Tenant as an overage on the Allowance.
Multifamily Building Development Parameters: Units: 675 residential units NRSF: 655,000 sf Parking spaces: 1,090 parking spaces in two structures; Units: 700 residential units NRSF: 675,000 sf Parking spaces: 1,200 parking spaces in two structures.
The Purchase Price is based on the build-out of the Improvements yielding 68,250 NRSF of storage space (not including the manager’s on-site office and residence), plus or minus one percent (1%).