Rent Liability definition

Rent Liability means, as of any date, the result of eight (8) multiplied by the aggregate Rentals for the most recently ended 12 consecutive month period, calculated on a consolidated basis for the Company and its Subsidiaries for such period in accordance with GAAP.
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Rent Liability means the aggregate of the rent principally or firstly reserved by the relevant lease for the relevant period.
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Examples of Rent Liability in a sentence

  • As used in this Lease, the "Excess Rent Liability" also includes the amount, as calculated above, resulting from sums payable to the 111 Landlord on account of a holdover by Tenant beyond July 31, 2003 (or October 31, 2003 if Tenant elects the Commencement Date Extension Option) regardless of whether or not pursuant to a written agreement with the 111 Landlord.

  • The exercise of the 12th Floor Extension Option does not affect the allocation of risks or liabilities of the parties hereto with respect to Damages or Excess Rent Liability.

  • Any Tenant claim for Excess Rent Liability or Damages shall be in writing and subject to Landlord's right to confirm that the amount claimed for reimbursement has, in fact, been paid to the 111 Landlord.

  • As a condition to Landlord's approval, ----------------------- any prospective assignee or sublessee otherwise approved by Landlord shall assume all obligations of Tenant under this Lease and shall be jointly and severally liable with Tenant for the payment of Rent and the performance of all terms, conditions, covenants and agreements contained in this Lease; provided that, in regard to Rent Liability, any approved sublessee shall be liable only for rent in the amount set forth in the sublease.

  • If Tenant terminates this Lease pursuant to this paragraph 1(b)(ii)(B), then on January 1, 2004 and on the first day of the next five months thereafter, Landlord shall pay to or as directed by Tenant an amount equal to the Excess Rent Liability for which Tenant is liable pursuant to the 111 Lease, which obligation shall survive any subsequent termination of this Lease.

  • If the Excess Rent Liability that Landlord is obligated to pay pursuant to the Landlord 111 Extension Agreement would reasonably be expected to exceed $1 million, Tenant shall have the right, as a condition to executing the 111 Extension Agreement, to require that Landlord provide to Tenant commercially reasonable evidence demonstrating Landlord's financial means to pay the Excess Rent Liability as and when the same accrues.

  • Any Force Majeure Delay that occurs prior to the Delivery Date and which causes a delay of the Delivery Date shall postpone the Commencement Date in the same manner as provided in paragraph 1(a)(ii) of the Lease (i.e. with the same effect as if there was a delay in the Delivery Date due to a failure of the GSA to vacate the Premises); provided that in such case Landlord's obligation for Excess Rent Liability as set forth herein shall be as set forth in subclause (vii) below.

  • Landlord will pay Tenant's timely request for payment of Excess Rent Liability (or any portion thereof) within ten (10) days after the date on which Landlord receives Tenant's written claim.

  • Base Rent; Liability Insurance; Deposit; Tenant's Address (primary and copy); Real Estate Brokers.

  • Tenant shall submit a claim for Excess Rent Liability or Damages promptly after Tenant determines the amount thereof.