Sublease Profit shall have the meaning set forth in Section 12.7 hereof.
Sublease Profit means the product of (x) the Sublease Rent Per Square Foot less the Rent Per Square Foot, and (y) the number of rentable square feet constituting the portion of the Premises sublet by Tenant.
Sublease Profit means the net profit you earn through subleasing the building or portion of the building that you rent for the unexpired term of the canceled lease or sublease, whichever would expire first. This amount is discounted based on the prime rate of interest at the time of direct physical loss or damage for the unexpired term of the canceled lease or sublease.
Examples of Sublease Profit in a sentence
Promptly after receipt or final adjustment of any such payments or discovery of any such mistake, Tena nt shall submit to Landlord a recalculation of the Sublease Profit, and an adjustment shall be made between Landlord and Tenant, on account of prior payments made or credits received.
Thereafter, any Sublease Profit received by Tenant shall be shall be paid fifty percent (50%) to Landlord and fifty percent (50%) to Tenant.
In connection with any subletting of all or any portion of the Leased Premises, Tenant shall pay to Landlord fifty percent (50%) of any Sublease Profit derived therefrom.
Except for an assignment or sublease for which Owner’s consent is not required that is properly effectuated pursuant to the provisions of Section 40(b) above, if the Owner shall give its consent to any assignment of this lease or to any sublease, Tenant shall in consideration therefor, pay to Owner, as Additional Charges, an amount equal to fifty percent (50%) of the Assignment Profit (hereinafter defined) or Sublease Profit (hereinafter defined), as the case may be.
Tenant shall pay to Landlord from time to time an amount equal to fifty percent (50%) of Sublease Profit promptly after Tenant receives funds that constitute Sublease Profit.
More Definitions of Sublease Profit
Sublease Profit means in any year of the term of this Lease (i) any rents, additional charges or other consideration payable under the sublease to Tenant by the subtenant which is in excess of the fixed annual rent and additional rent accruing during such year of the term of this Lease in respect of the subleased space (at the rate per square foot payable by Tenant hereunder) pursuant to the terms hereof, and (ii) all sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements, equipment, furniture or other personal property, less, in the case of the sale thereof, the net unamortized cost thereof determined on the basis of Tenant’s federal income tax returns and, in the case of the rental thereof, the fair rental value thereof, which net unamortized amount shall be deducted from the sums paid in connection with such sale in equal monthly installments over the balance of the term of the sublease (each such monthly deduction to be in an amount equal to the quotient of the net unamortized amount, divided by the number of months remaining in the term of this Lease) after deducting therefrom the amount of Tenant’s Costs.
Sublease Profit means, for the term of the applicable sublease (the "Sublease Term"):
Sublease Profit means the excess of (i) the --------------- Sublease Rent over (ii) the then Fixed Rent, Escalation Rent and, if applicable, the Electricity Additional Rent.
Sublease Profit means the excess, if any, (i) of the rentals actually received by Tenant under any sublease (it being understood that the rentals actually received under any sublease shall include sums paid for the sale or rental of Tenant's fixtures, leasehold improvements, equipment, furniture or other personal property, less, (i) in the case of the sale thereof, the then net unamortized or undepreciated cost thereof determined on the basis of Tenant's federal income tax returns, and (ii) in the case of the rental thereof, the fair market rental value of such item(s), and any other consideration actually received by Tenant under any sublease (the "Total Income")) over (ii) the sum (the "Total Cost") of (w) all basic annual rent and additional rent paid by Tenant, or such thereof as are reasonably allocable to the portion of the demised premises so sublet, that are paid by Tenant to Landlord, (x) "Tenant's Transaction Costs", as hereinafter defined, (y) any "Carryover Credit", as hereinafter defined, and (z) all actual out-of-pocket costs, if any, incurred by Tenant in providing services to the subtenant. The term "Tenant's Transaction Costs" shall mean and include all actual reasonable costs and expenses incurred by Tenant consistent with the then market requirements in effectuating the subletting, including, without being limited to, brokerage commissions, attorney's fees and disbursements, remodeling and redecorating costs, rent paid during any free-rent periods and takeover costs and expenses. In computing Sublease Profits, the Total Income, as and when received by Tenant, shall first be offset against Tenant's Transaction Costs, as and when incurred or paid by Tenant on the basis hereinafter provided, until Tenant has recovered Tenant's Total Transaction Costs, it being understood that (1) any of the rent or other items referred to in clause (x) of this Section 10-03 (b) shall only be offset against Total Income as and when such items referred to in said clause (x) are actually received by Landlord and (2) the actual out-of-pocket expenses included in Tenant's Transaction Costs (such as attorney fees, brokerage commissions, rent concessions and remodeling costs) may be offset against Total Income as and when paid by Tenant. The Total Income, as and when received, less such additional Total Cost as may be paid or incurred by Tenant on the basis herein provided shall constitute Sublease Profit. If at any time a prior sublease shall have resulted in a net loss to Tenan...
Sublease Profit as used herein shall mean an amount equal to the excess of (x) any rents, additional charges or other consideration payable under the sublease to Tenant by the subtenant (including, without limitation, any fee, penalty or charge paid by the subtenant for the right to cancel the sublease) which is in excess of the Fixed Rent and Additional Charges accruing during the term of the sublease in respect of the subleased space (at the rate per square foot payable by Tenant hereunder) pursuant to the terms hereof, including, without limitation, any sums paid for the value of Tenant’s fixtures, leasehold improvements, equipment, furniture, furnishings or other personal property over (y) the Transaction Costs.
Sublease Profit means the product obtained by multiplying (x) the excess of (A) the Sublease Rent Per Square Foot, over (B) the Rent Per Square Foot, by (y) the number of rentable square feet by the Sublease in question.
Sublease Profit shall have the meaning ascribed to such term in Sections 7.07(b);