Tenant's Profits definition

Tenant's Profits means in relation to each Accounting Period the net trading profit of the Tenant arising from the Tenant’s normal trading activities as disclosed by the Tenant’s Accounts for that Accounting Period:
Tenant's Profits means the amount by which the rental received by Tenant during the term of any such subletting (first deducting from such rental "Tenant's subletting costs" [as hereinafter defined] exceeds the rental payable by Tenant to Owner for the premises covered by such subletting. There shall be deemed included in such rental received by Tenant during the term of such subletting all sums paid for the sale or rental of any fixtures, leasehold improvements, equipment, furniture or other personal property, less, in the case of the sale or rental thereof, the then net unamortized (on a straight-line basis over the term of this Lease) cost thereof, which were provided and installed in the sublet premises at the sole cost and expense of Tenant and for which no allowance or other credit has been given. The term "Tenant's subletting costs" shall mean with respect to each subletting by Tenant of the Demised Premises or portions thereof the cost to Tenant of altering such premises in connection with such subletting plus any rental concessions provided by Tenant, any so-called "takeover" obligations incurred by Tenant, any brokerage commissions and reasonable counsel fees incurred by Tenant and any other reasonable expenses incurred by Tenant in connection with such subletting. The foregoing notwithstanding, if Owner shall exercise its rights under subsection 11.03(B), then for the purposes of determining Owner's Profits to which Tenant shall be entitled as hereinabove provided then, Owner shall be deemed to have relet such Eliminated Space whether or not Owner actually relets the Eliminated Space in question for a term to commence on the proposed commencement date of the sublease set forth in the Proposed Sublet Statement which Tenant had submitted with respect to such Eliminated Space, and Owner's Profits therefor shall be deemed the greater of (i) the amount which would have constituted Tenant's Profits if Owner had not so exercised such option to recapture and Tenant had consummated the subletting referred to or (ii) the actual amount of Owner's Profits, if any, with respect to the reletting consummated by Owner. The foregoing notwithstanding, if Owner shall exercise its rights under subsection 11.03(B)(2), then any portion of Owner's Profits to which Tenant shall be entitled hereunder shall not be less than a sum equal to an amount which would have constituted Tenant's Profits if Owner had not so exercised such option to recapture and Tenant had consummated the sublettin...
Tenant's Profits means the amount by which the rental received by Tenant during the term of any such subletting (deducting from such rental "Tenant's subletting costs" [as hereinafter defined] spread equitably over the term of such subletting) exceeds the rental payable by Tenant to Owner for the premises covered by such subletting. There shall be deemed included in such rental received by Tenant during the term of such subletting all sums paid for the sale or rental of any fixtures, leasehold improvements, equipment, furniture or other personal property, less, in the case of the sale thereof, the then net unamortized (on a straight-line basis over the term of this Lease) cost thereof, which were provided and installed in the sublet premises at the sole cost and expense of Tenant and for which no allowance or other credit has been given. The term "Tenant's subletting costs" shall mean with respect to each subletting by Tenant of the Demised Premises or portions thereof the cost to Tenant of altering such premises in connection with such subletting plus any rental concessions provided by Tenant, any so-called "takeover" obligations incurred by Tenant, any brokerage commissions and reasonable counsel fees incurred by Tenant and any other reasonable expenses incurred by Tenant in connection with such subletting.

Examples of Tenant's Profits in a sentence

  • In the event that Tenant or any of Tenant's subsidiaries or affiliates shall occupy the Retail Space for the conduct of business prior to such time, if any, at which Tenant shall have subleased the Retail Space for a term(s) of at least five (5) years in the aggregate, then thereafter, any Owner's Profits and Tenant's Profits with respect to any reletting or subletting of the Retail Space shall be shared equally, fifty percent (50%) to Owner and fifty percent (50%) to Tenant.

  • Owner acknowledges that Tenant might include, in an initial sublease of the Retail Space, a provision entitling Tenant to terminate such sublease after the first five (5) years of the term thereof, and in the event such sublease shall contain such right and Tenant shall exercise the same, the result would be that Owner would not obtain any Tenant's Profits in connection with such initial sublease.

  • Hair accessories worn to keep hair in place, such as to hold a ponytail in place, are permissible.3. Appropriate footwear is required and must be safe and appropriate for indoor and outdoor activity.

Related to Tenant's Profits

  • Tenant’s Property means Tenant's movable fixtures and movable partitions, telephone and other equipment, furniture, furnishings, decorations and other items of personal property.

  • Tenant’s Proportionate Share is, subject to the provisions of this Paragraph 3, the percentage number described in Item 4 of the Basic Lease Provisions. Tenant's Proportionate Share represents a fraction, the numerator of which is the number of square feet of Rentable Area in the Premises and the denominator of which is the number of square feet of Rentable Area in the Project, as determined by Landlord pursuant to Subparagraph 2(d) above.

  • 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.

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following:

  • 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.

  • Tenant’s Personal Property means all motor vehicles, Inventories, FAS and any other tangible personal property of Tenant, if any, acquired by Tenant at its election and with its own funds on and after the date hereof and located at the Leased Property or used in Tenant's business at the Leased Property and all modifications, replacements, alterations and additions to such personal property installed at the expense of Tenant, other than any items included within the definition of Proprietary Information.

  • Tenant’s Pro Rata Share are both subject to adjustment as provided in this Lease. Definition or Provision Means the Following (As of the Term Commencement Date} Approximate Rentable Area of Premises 11,173 square feet Approximate Rentable Area of Project 67,998 square feet Tenant’s Pro Rata Share of Project 16.43%

  • Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance, and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • 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.

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

  • Tenant’s Percentage means a percentage, the numerator of which is the number of rentable square feet of the leased Premises and the denominator of which is the total number of rentable square feet of the Building, whether or not such space is actually rented. The Tenant's Percentage shall be changed from time to time to reflect any change in the total rentable square footage in the Building or the rentable square feet of the leased Premises. If the rentable square footage of the Building is not fully occupied during any particular Operating Expense year including the base year, Landlord shall adjust those Operating Expenses which are affected by occupancy for the particular Operating Expense year to reflect 100% occupancy. If during any Operating Year the tenant of any space in the Building performs work or services therein pursuant to a written agreement between Landlord and such tenant in lieu of having Landlord perform the same and the cost thereof would have been included in Landlord's Operating Expenses, then in any such event(s), at Landlord's option, the Operating Expenses for such Operating Year shall be adjusted to reflect the Operating Expenses that would have been incurred if Landlord had performed such work or services, as the case may be. In the event Operating Expenses are decreased as a result of extraordinary changes then the Base Year Operating Expenses shall be correspondingly reduced. An extraordinary change shall mean changes unrelated to the normal inflation and deflation of the cost of goods and services making up the Operating Expenses, such as a change in the rentable area contained in the Building resulting from condemnation, casualty, demolition, alteration or construction of the additional improvements. Any decrease in Taxes shall be considered an extraordinary change if due to any statewide property tax limitation or reduction legislation. If the total rentable area of the Building changes, Landlord shall reasonably determine a revised Tenant's Percentage reflecting the change.

  • Additional Rent means all amounts, other than Basic Rent and any Security Deposit, required to be paid by the Tenant to the Landlord in accordance with this Agreement.

  • Tenants means the tenants under the Leases.

  • Tenant’s Percentage Share means the percentage specified in the Basic Lease Information.

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent of the then replacement cost of the Building.

  • Tenant’s Taxes means (a) all taxes, assessments, license fees and other governmental charges or impositions levied or assessed against or with respect to Tenant's personal property or Trade Fixtures in the Premises, whether any such imposition is levied directly against Tenant or levied against Landlord or the Property, (b) all rental, excise, sales or transaction privilege taxes arising out of this Lease (excluding, however, state and federal personal or corporate income taxes measured by the income of Landlord from all sources) imposed by any taxing authority upon Landlord or upon Landlord's receipt of any rent payable by Tenant pursuant to the terms of this Lease ("Rental Tax"), and (c) any increase in Taxes attributable to inclusion of a value placed on Tenant's personal property, Trade Fixtures or Alterations. Tenant shall pay any Rental Tax to Landlord in addition to and at the same time as Base Rent is payable under this Lease, and shall pay all other Tenant's Taxes before delinquency (and, at Landlord's request, shall furnish Landlord satisfactory evidence thereof). If Landlord pays Tenant's Taxes or any portion thereof, Tenant shall reimburse Landlord upon demand for the amount of such payment, together with interest at the Interest Rate from the date of Landlord's payment to the date of Tenant's reimbursement.

  • Base Operating Expenses means the Operating Expenses for the Base Year.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • 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.

  • Tenant means any Person leasing, subleasing or otherwise occupying any portion of the Property under a Lease or other occupancy agreement.

  • Landlord Party or “Landlord Parties” shall mean Landlord, any affiliate of Landlord, Landlord’s managing agents for the Building, each mortgagee (if any), each ground lessor (if any), and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents or representatives. For the purposes of this Lease, the term “Tenant Party” or “Tenant Parties” shall mean Tenant, any affiliate of Tenant, any permitted subtenant or any other permitted occupant of the Premises, and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents, invitees or representatives.

  • Rent Expense means, as to any Person for any period, the aggregate rent and lease expenses recorded by such Person and its Subsidiaries on a consolidated basis in conformity with GAAP pursuant to any Operating Lease.

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

  • Personal Property Taxes All personal property taxes imposed on the furniture, furnishings or other items of personal property located on, and used in connection with, the operation of the Leased Improvements as a hotel (other than Inventory and other personal property owned by the Lessee), together with all replacements, modifications, alterations and additions thereto.

  • 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.