Rent Offset definition

Rent Offset has the meaning ascribed to such term in Section 2.1(d)(ii)(a).

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Rent Offset means offsets to Annual Rent which Lessee may make pursuant to Section 5.7 of this Lease.

Rent Offset means the deduction to Base or Percentage Rent approved by the Lessor as described in Section 5.7 of this Lease.

Examples of Rent Offset in a sentence

• Lessor may retain the services of an appraiser to determine final Approved Cost and Rent Offset methodology.

• Lessor approval of an Improvement for Rent Offset eligibility will occur before construction however the final Approved Cost will not be determined until construction is completed.

• The amount of the Tenant Changes Allowance and/or the amount of any Rent Offset actually used by Tenant shall be deemed added to Section 23.2(d) of the Lease and included in the list of amounts necessary to compensate Landlord for any detriment proximately caused by any default of Tenant, as further described therein.

• At the end of the fifth (5th) business day after said notice and deliveries have been sent to Seller by Purchaser or CCM, then the funds being requested by Purchaser or CCM for the Rent Offset shall be disbursed to Purchaser or CCM upon Purchaser's or CCM's unilateral request to the Title Company.

• Upon the expiration of the 36th month of the Term, provided Tenant is not in default under this Lease, Landlord shall offset $25,000 (“Rent Offset”) from the Security Deposit and apply the Rent Offset toward the next due monthly installment of Annual Base Rent, leaving a Security Deposit balance of $50,000.00.

• For example, Tenant may elect to use $250,000 of Tenant Changes Allowance and $325,400 of Rent Offset.

• In the event and to the extent that Tenant fails to utilize the Tenant Changes Allowance or notify Landlord of its intent to apply the Rent Offset as provided in this Second Amendment, then and in such event, the Tenant will be deemed to have elected the Rent Offset and will be entitled to the Rent Offset described in this paragraph.

• No later than sixty (60) days after the Effective Date, Tenant shall give Landlord written notice of its election to use either the Tenant Changes Allowance to effect Tenant Changes to the Premises or the Rent Offset to offset Monthly Basic Rent or a combination of both on a per square foot basis.

• Because these structures, are removable in their entirety, no Rent Offset or other compensatory interest will be granted to the Lessee for these structures, including associated FF&E.

• Lessee costs for non-compliant Initial Improvements or Alterations are not eligible for Rent Offset.

More Definitions of Rent Offset

Rent Offset means, in the event Landlord elects to sell any Terminated Facilities pursuant to Section 12.2.6, for any given time, an amount determined by the following formula: Where: RO is the amount by which Base Rent shall be reduced SP equals the value of all consideration received by Landlord from the sale of such Terminated Facilities, net of any applicable Landlord expenses, including without limitation broker fees, sales taxes and closing costs n equals the years remaining until the Initial Expiration Date LY is a lease yield equal to 9.5%

Rent Offset. NOT APPLICABLE Rentable Area: The total rentable area of the Leased Premises, which (although greater than the actual usable area) is agreed to be 8,797 square feet, which shall be verified by the project architect upon completion of the Tenant Improvement Plans and in the event the final calculation is different then as aforesaid the project architect shall provide a written statement to the parties hereto as to the total Rentable Square Feet of the Premises and said written statement shall be attached as an amendment hereto modifying the portions of this Agreement as is appropriate without modifying the general terms hereof.

Rent Offset means, in the event Landlord elects to sell any Terminated Facilities pursuant to Section 12.2.6, for any given time, an amount determined by the following formula:

Rent Offset. Landlord understands that Tenant is obligated on another Lease for its existing offices at 1313 ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Boulevard in McLean, Virginia (the "Existing Office Space") and that Tenant is currently attempting to sub-lease the Existing Office Space. As inducement to Tenant to enter into this Agreement the Landlord agrees to offset the Basic Rent due hereunder in an amount equal to the amount of rent paid by Tenant for the Existing Office Space above and beyond any amounts collected from Tenant's sub-tenant(s) at the Existing Office Space on a monthly basis after the Lease Commencement Date. The Tenant shall provide Landlord evidence that it has incurred rent expenses at the Existing Office Space for any month where Tenant does not collect sub-lease rental payments equal to the amount due from Tenant for that month for the Existing Office Space as requested by Landlord and Landlord shall provide a credit towards the amount due hereunder from Tenant for the same month. However, the amount of Rent Offset shall not exceed Fifty Thousand Dollars ($50,000.00) in the aggregate. In the event the amount of Rent Offset granted by Landlord does not exceed Twenty-Five Thousand Dollars ($25,000.00) during the first year of the Term, the Landlord agrees that the escalation of the Basic Rent as provided for herein shall, rather then commencing with the beginning of the second year of the term, shall not commence until the beginning of the third (3rd) year of the Term and in such event the schedule of basic Rent set forth in paragraph l(b) shall be amended to reflect the change in the amount due as Basic Rent hereunder.