Definition of Rentable Area for the Premises


Rentable Area for the Premises means the Usable Area of the Premises multiplied by the Loss Factor for the floor on which the Premises are located. The Rentable Area is subject to adjustment throughout the Term based upon changes in the Loss Factor. Upon notice from Lessor to Lessee of said adjusunent, this Lease shall be deemed amended to incorporate the revised Rentable Area as of the date of said notice.
Sample 1

Examples of Rentable Area for the Premises in a sentence

STIPULATIONS AS TO AREa. Landlord and Tenant hereby agree that the Rentable Area of the Premises has been calculated on the basis of the foregoing definitions to be the number of square feet of Rentable Area for the Premises set forth in the Basic Lease information.
Tenant acknowledges that Tenant has measured or has waived measurement of the Net Rentable Area of the Premises and Building, and Tenant agrees that the square footage stated in Paragraph D of the Summary of Lease Terms is the Net Rentable Area for the Premises and Building calculated on the basis of the foregoing definition, and Tenant further agrees to waive any right to contest the amount of such square footage.
Commencing on the Extension Commencement Date, the Base Rent shall be at the rates set forth below: (a) $15.00 per square foot of Rentable Area for the Premises located on the first (1st) floor; (b) $19.75 per square foot of Rentable Area for the Premises located on the fourth (4th) floor; (c) $19.75 per square foot of Rentable Area for the Premises located on the fifth (5th) floor.
Rentable Area for the Premises and Building has been calculated pursuant to the Standard Method for Measuring Floor Area in Office Buildings, ANSIZ651980 (BOMA).