Definition of Tenant's Proportionate Share of Increase


Tenant's Proportionate Share of Increase means Tenant's Percentage multiplied by the increase in Operating Expenses for the Operating Year over Operating Expenses for the Base Year.

Examples of Tenant's Proportionate Share of Increase in a sentence

If such statement furnished by Landlord to Tenant hereunder shall indicate that the Tenant's Proportionate Share of Increase exceeded Tenant's Projected Share of Increase for the then Operational Year, Tenant shall forthwith pay the amount of such excess to Landlord.
For purposes hereof, the Tenant's Proportionate Share of Increase has been computed based upon a total square footage of the Building equal to 32,100 square feet, and a total square footage of the Demised Premises equal to 4,064 square feet.
Any dispute as to such determination shall be resolved by arbitration as hereinafter provided; (b) "Base Year" shall mean the twelve month period commencing of the first day of the month in which the Commencement Date occurs; (c) "Operational Year" shall mean each calendar year during the Term after the Base Year; and (d) "Tenant's Proportionate Share of Increase" shall mean 8.4% of the increase in Operating Expenses for the Operational Year over Operating Expenses for the Base Year.
If the statement furnished by Landlord to Tenant pursuant to Section 5.05 at the end of the then Operational Year shall indicate that Tenant's Projected Share of Increase exceeded Tenant's Proportionate Share of Increase, Landlord shall forthwith either (a) pay the amount of excess directly to Tenant concurrently with the notice or (b) permit Tenant to credit the amount of such excess against the subsequent payment of rent due hereunder.
If Tenant does not so terminate the Lease, Additional Rent, Tenant's Proportionate Share and Tenant's Proportionate Share of Increase shall be equitably reduced.