Sublease Base Year definition

Sublease Base Year means calendar year 2002.
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Sublease Base Year means calendar year 2017. If the Recognized Expenses for any calendar year occurring after the Sublease Base Year shall exceed the Recognized Expenses during the Sublease Base Year, then Subtenant shall pay to Sublandlord, as Additional Rent, within ten (10) days after receipt of Sublandlord’s invoice therefor, an amount equal to Subtenant’s Share of the excess of the Recognized Expenses for such calendar year over the Sublease Base Year, in the same manner as set forth in Article 6 of the Sixth Amendment, as amended.
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Sublease Base Year means the Sublease Operation Year commencing January 1, 1997; the term "Subtenant's Fraction" shall mean that fraction which is the proportion of the Gross Floor Space of the Sublease Premises to the Gross Floor Space of the Xxxxxxxxx Premises (i.e., .9169), if the Gross Floor Space of the Xxxxxxxxx Premises should change during the Term of this Sublease, then Subtenant's Fraction shall be adjusted accordingly and such adjustment shall pertain to all periods subsequent to such change; and the term "Subtenant's Proportionate Shares" shall mean the respective percentages obtained by multiplying by Subtenant's Fraction (a), with respect to Real Estate Taxes, the respective percentages for Tenant's Proportionate Share set forth in Exhibit K of the Xxxxxxxxx, as such percentages were adjusted pursuant to the provisions of Paragraph 6 of the Second Lease Modification Agreement constituting a part of the Xxxxxxxxx, and (b) with respect to Operating Expenses and "Overlandlord's Electricity and Gas Costs" (as said term is defined in Paragraph 12 of this Sublease), the respective percentages for Tenant's Proportionate Share set forth in Exhibit L of the Xxxxxxxxx, as such percentages were adjusted pursuant to the provisions of Paragraph 6 of said Second Lease Modification Agreement. If there shall be a further adjustment in Tenant's Proportionate Share by reason of any further change in the Gross Floor Space of the Xxxxxxxxx Premises, there shall be an appropriate adjustment to the percentages of Tenant's Proportionate Share for purposes hereof as of the date of such change.
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Examples of Sublease Base Year in a sentence

  • From and after the Sublease Commencement Date, Subtenant shall pay to Sublandlord as additional rent for this subletting an amount equal to Tenant’s Share of (a) the amount, if any, by which Operating Expenses for an Expense Year exceeds Operating Expenses for the Sublease Base Year (“Sublease Expense Excess”) and (b) the amount, if any, by which Tax Expenses for an Expense Year exceeds Tax Expenses for the Sublease Base Year (the “Sublease Tax Excess”).

  • A pro-rata portion of any operating expenses due under the Lease in excess of the Sublease Base Year (2009) shall be payable as additional rent hereunder in the same manner as Basic Rent.

  • Commencing with calendar year 2020, Sublandlord shall provide Subtenant with written notice of Sublandlord’s estimate of the amount of Building Office Pool Direct Expenses per month payable pursuant to this Section 5.2 for each calendar year during the Term following the Sublease Base Year promptly following the Sublandlord’s receipt of Master Landlord’s estimate of the Building Office Pool Direct Expenses payable under the Master Lease (“Master Landlord’s Statement”) in accordance with Section 5.3 below.

  • On or before the first day of each month during each calendar year during the Term following the Sublease Base Year, Subtenant shall pay to Sublandlord as Additional Rent Subtenant’s Share of one-twelfth (1/12th) of such estimated amount.

  • Subtenant shall pay, as -------------------------- Sublease Additional Charges, Subtenant's Proportionate Shares of the amounts by which Additional Charges for Real Estate Taxes and Operating Expenses payable by Sublandlord under the Xxxxxxxxx for any Sublease Operational Year subsequent to the Sublease Base Year exceed the Additional Charges for Real Estate Taxes and Operating Expenses payable by Sublandlord under the Xxxxxxxxx for the Sublease Base Year.

  • Subtenant shall also be responsible for the payment of Subtenant’s Share of all Building Operating Expenses (as defined below) that exceed the amount of Building Operating Expenses incurred by Sublandlord during the Sublease Base Year.

  • The successful proposer must remove the existing structure in its entirety within 30 days from the date of execution of the contract.

  • Firms may structure their carry plans to allocate participant award percentages at various levels (e.g., by fund, by investment or investment tranche, or by vintage year for each fund and/or deal).

  • A copy of the Landlord Statement for the Sublease Base Year expenses shall be provided to Subtenant.

  • A copy of the Landlord Statement for the Expansion Sublease Base Year expenses shall be provided to Subtenant.


More Definitions of Sublease Base Year

Sublease Base Year means the calendar year 2006. Sublandlord shall provide Subtenant copies of any good faith estimates of Sublandlord’s Expense Excess and Tax Excess received by Sublandlord under the Master Lease during the Term hereof. For each Expense Year during the Term hereof, Sublandlord may estimate and notify Subtenant of the amount of Subtenant’s Sublease Expense Excess and Sublease Tax Excess due for such year, and Subtenant shall pay Sublandlord one-twelfth of such estimate on the first day of each month during such year. Such estimate may be revised by Sublandlord whenever it obtains information relevant to making such estimate more accurate. After the end of each Expense Year, after receiving the Statement from Landlord, Sublandlord shall deliver to Subtenant a copy of the Statement and a report setting forth the actual Sublease Expense Excess and Sublease Tax Excess incurred or accrued during such Expense Year and a statement of the amount of Sublease Expense Excess and Sublease Tax Excess that Subtenant paid for such year. Within twenty (20) days after receipt of such report, Subtenant shall pay to Sublandlord the amount of Sublease Expense Excess and Sublease Tax Excess due for such Expense Year minus any payments of Sublease Expense Excess and Sublease Tax Excess, respectively, made by Subtenant for such year. If Subtenant’s estimated payments of Sublease Expense Excess and Sublease Tax Excess, respectively, exceed the amount due Sublandlord for such Expense Year, Sublandlord shall apply such excess as a credit against Subtenant’s other obligations under this Sublease, or, if the Term hereof has already expired, Sublandlord shall promptly refund such excess to Subtenant, provided Subtenant was not then in default hereunder upon such expiration, in either case without interest to Subtenant. If Sublandlord disputes the correctness of any Statement issued by Landlord and if such dispute is resolved in Sublandlord’s favor such that Sublandlord receives a refund or credit of Expense Excess or Tax Excess paid by Sublandlord under the Master Lease, after deducting any and all costs incurred by Sublandlord in obtaining such refund or credit, Sublandlord shall apply to Subtenant’s account any portion of such refund or credit received by Sublandlord that may be applicable to any related payments of Sublease Expense Excess or Sublease Tax Excess made by Subtenant hereunder. In lieu of the foregoing Statement and review procedures, Sublandlord and Subtenant shall endea...
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Related to Sublease Base Year

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Base Year means the period set forth in Section 5 of the Summary.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Minimum Rent means Fifty Million Thirty-Three Thousand Nine Hundred Seventy-Six and 00/100ths Dollars ($50,033,976.00), subject to adjustment as provided in Section 3.1.1(b).

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • bicycle parking space – occupant means an area that is equipped with a bicycle rack or locker for the purpose of parking and securing bicycles, and:

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Net Rentable Area means with respect to any Project, the floor area of any buildings, structures or improvements available for leasing to tenants (excluding storage lockers and parking spaces), as reasonably determined by the Administrative Agent, the manner of such determination to be consistent for all Projects unless otherwise approved by the Administrative Agent.

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Expense Year means each calendar year in which any portion of the Lease Term falls, through and including the calendar year in which the Lease Term expires, provided that Landlord, upon notice to Tenant, may change the Expense Year from time to time to any other twelve (12) consecutive month period, and, in the event of any such change, Tenant’s Share of Direct Expenses shall be equitably adjusted for any Expense Year involved in any such change.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Vice President [Royce & Associates, LLC letterhead] December 31, 2008 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement – Royce Low-Priced Stock Fund (R Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated October 1, 2001 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Xxxxx Xxx-Priced Stock Fund (the “Series”) and Royce & Associates (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning January 1, 2009 and ending April 30, 2010 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its R Class of shares (the “Class”) are not more than 1.84% of the Class’ average net assets for the Period. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent annual period through the annual period ending April 30, 2019 (but not for any annual period thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such annual period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Base Rent $ 25,024 per month ("Base Rent"), payable on the 1st day of each month commencing on the Commencement Date (Also see Paragraph 4.) [ ] If this box is checked, this Lease provides for the Base Rent to be adjusted per Addendum ___, attached hereto.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • License year means the period of time for which a

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.