Shell Rent definition

Shell Rent means an amount calculated on the lower of the following: (1) $0.4175 per square foot of the Building per month; or (2) Return-on-Cost Rent. The Shell Rent shall be determined upon the date (the “Determination Date”) that (aa) the Landlord Improvements have been Substantially Completed and (bb) the final Project Costs (as defined in Exhibit D) have been determined and reconciled (as provided in Section 11(c) of Exhibit D)). Landlord and Tenant acknowledge and agree that the Shell Rent formula takes into account the Base Improvement Allowance being provided by Landlord to Tenant in accordance with Section 2 of Exhibit D.
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Shell Rent. RATE: $18.00 p.r.s.f.
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Shell Rent means $____ per rentable square foot per annum, on a triple net basis. “Improved Rent” shall mean $____ per rentable square foot per annum, on a triple net basis. Such Base Rent shall be adjusted annually as provided in Section 4 hereof, and shall further be adjusted for any portion of the Additional Tenant Improvement Allowance elected to be used by Tenant at any time during the Term.
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Examples of Shell Rent in a sentence

  • For pricing, fulfillment of all requirements not specifically designated as operating costs or other rent components as indicated shall be deemed included in the Shell Rent.

  • Lessor shall provide, as part of Shell Rent, 10 average foot-candles in all other Building areas within the Premises with a uniformity ratio of 4:1.

  • Warm Shell Rent, Car Parking Charges, Maintenance Charges, Terrace Area Charges (if any) and any other monthly charge is 1st day of each English calendar month (Due Date) but not later than 7th day of the calendar month, along with taxes and duties as applicable.

  • If Shell Rent Rates expires prior to the expiration of OA and is not replaced with another Shell Rent Rate, Financial Summary Report will generate until the time it is replaced by another rate or insert TBD if there are no Shell Rent Rates.

  • For pricing, fulfillment of all requirements not specifically designated as TIs, Building Specific Amortized Capital, Operating Costs, or other rent components as indicated shall be deemed included in the Shell Rent.

  • The payment of Warm Shell Rent, Car Parking Charges, Maintenance Charges and Façade Signage Charges (if any) shall be subject to deduction of TDS.

  • For the purposes of establishing the Shell Rent only, the Cost of the Shell Building shall be equal to the lesser of the (i) the costs to complete the Shell Building and (ii) Twenty Million Dollars ($20,000,000).

  • Except as otherwise set forth in this Work Letter, and specifically subject to Section 2(d) below, Landlord shall complete the Tenant Improvements at Landlord’s sole cost up to $2,810,672.00 (based on Four Dollars ($4.00) per square foot of the Building, the “Base Improvement Allowance”), the expended portion of which shall be included in the Shell Rent.

  • For pricing, fulfillment of all requirements not specifically designated as TIs, Building Specific Security, Operating Costs, or other rent components as indicated shall be deemed included in the Shell Rent.

  • Project Rent shall be equal to (i) the annual Shell Rent plus (ii) the Tenant Improvement Costs times 0.14.