Transfer Profits means the difference, if any, between (1) the Base Rent plus Additional Rent allocable to that part of the Premises affected by such assignment or sublease pursuant to the provisions of this Lease, and (2) the rent and any additional rent payable by the assignee or sublessee to Tenant, less actual leasing commissions and reasonable attorneys’ fees, if any, incurred by Tenant in connection with such assignment or sublease, and actual tenant improvement costs paid by Tenant in improving the Premises for the applicable assignee or subtenant up to an aggregate of five dollars ($5.00) per square foot of space subject to the assignment or sublease transaction. The assignment or sublease agreement, as the case may be, after approval by Landlord, shall not be amended without Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, shall contain an express assumption by the assignee or subtenant of Tenant’s obligations under this Lease and shall contain a provision directing the assignee or subtenant to pay the rent and other sums due thereunder directly to Landlord upon receiving written notice from Landlord that Tenant is in default under this Lease with respect to the payment of Rent. In the event that, notwithstanding the giving of such notice, Tenant collects any rent or other sums from the assignee or subtenant, then Tenant shall hold such sums in trust for the benefit of Landlord and shall immediately forward the same to Landlord. Landlord’s collection of such rent and other sums shall not constitute an acceptance by Landlord of attornment by such assignee or subtenant. A consent to one assignment, subletting, occupation or use shall not be deemed to be a consent to any other or subsequent assignment, subletting, occupation or use, and consent to any assignment or subletting shall in no way relieve Tenant of any liability under this Lease. Any assignment or subletting without Landlord’s consent shall be void, and shall, at the option of Landlord, constitute a Default under this Lease.
Transfer Profits means all rent, Additional Rent or other consideration paid by or on behalf of such Transferee in connection with the Transfer in excess of Monthly Base Rent and Additional Rent payable by Tenant under this Lease during the Term of the Transfer. Tenant shall provide Landlord with a detailed statement setting forth the calculation of any Transfer Profits Tenant either has or will derive from such Transfer. In addition, Landlord or its representative shall have the right at all reasonable times to audit those particular books and records of Tenant with respect to the calculation of the Transfer Profits. If such inspection reveals that the amount of Transfer Profits paid to Landlord was incorrect by more than five percent (5%), then within thirty (30) days of Tenant's receipt of the results of such audit, Tenant shall pay Landlord the deficiency and the reasonable cost of Landlord's audit.
Transfer Profits means all rent, additional rent or other consideration paid by or on behalf of such Transferee in connection with the Transfer in excess of Base Rent and Additional Rent payable by Tenant under this Lease during the Term of the Transfer. Tenant shall provide Landlord with a detailed statement setting forth the calculation of any Transfer Profits Tenant either has or will derive from such Transfer. In addition, Landlord or its representative shall have the right at all reasonable times to audit the books and records of Tenant with respect to the calculation of the Transfer profits. If such inspection reveals that the amount of Transfer Profits paid to Landlord was incorrect, then within ten (10) days of Tenant's receipt of the results of such audit, Tenant shall pay Landlord the deficiency and the cost of Landlord's audit.
Examples of Transfer Profits in a sentence
If Landlord approves an assignment or subletting as herein provided, Tenant shall pay to Landlord, as Additional Rent, fifty percent (50%) of the Transfer Profits (as hereinafter defined), as evidenced by written records satisfactory to Landlord.
Tenant shall provide Landlord with a detailed statement setting forth the calculation of any Transfer Profits Tenant either has or will derive from such Transfer.
A Participant may not Transfer Profits Interest Units, except as permitted under an applicable Profits Interest Unit Award Agreement.
Long-term payablesJune 30, 2021 RMB’000 72,437(4,617) 67,820December 31, 2020RMB’000 Payables for proceeds from transfer of mining rights Less: Current portion of long-term payables79,485(3,790) 75,695 According to the Interim Measures for the Administration of the Collection of Mining Right Transfer Profits, the Group’s quartz sand mine mining rights in Wenchang City, Hainan Province are subject to levy on transfer proceeds.
Subject to the provisions of this Article 15, if Landlord consents to any Transfer, Tenant shall pay to Landlord fifty percent (50%) of any Transfer Profits (defined below).
More Definitions of Transfer Profits
Transfer Profits means all rent, additional rent or other consideration paid to Lessee by or on behalf of such transferee in connection with the Transfer in excess of the monthly Base Rent and Additional Rent payable by Lessee under this Lease during the term of the Transfer (on a per square foot of Rentable Area basis if less than all of the Premises is transferred (unless all or a portion of the Subject Space is subject to different Rent and Additional Rent terms, in which case, to the extent applicable, such different terms shall be applicable)) after first deducting all Transfer Costs (as defined below). Lessee shall provide Lessor with a detailed statement setting forth the calculation of any Transfer Profits Lessee either has or will derive from such Transfer. In addition, Lessor or its representative shall have the right at all reasonable times to audit the books and records of Lessee with respect to the calculation of the Transfer profits. If such inspection reveals that the amount of Transfer Profits paid to Lessor was incorrect, then within ten (10) days of Lessee’s receipt of the results of such audit, Lessee shall pay Lessor the deficiency and the cost of Lessor’s audit. For purposes hereof, “Transfer Costs” shall mean and shall include expenses incurred by Lessee for the following: (i) any changes, alterations and improvements to the Premises in connection with the Transfer, (ii) any brokerage commissions incurred by Lessee in connection with the Transfer, (iii) good faith attorneys’ fees incurred by Lessee in connection with the Transfer, and (iv) out-of-pocket costs of advertising the space which is the subject of the Transfer. For purposes of calculating the Transfer Profits on a monthly basis, the Transfer Costs shall be allocated to tile earliest portion of the term of such Transfer until such Transfer Costs are exhausted. The determination of the amount of Lessor’s applicable share of the Transfer Profits shall be made on a monthly basis as rent or other condition is received by Lessee under the Transfer. [***] Information has been omitted and submitted separately to the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Transfer Profits means all Rent, Additional Rent or other consideration paid by or on behalf of such Transferee in connection with the Transfer (after deducting Tenant’s costs incurred in effecting the Transfer) in excess of Base Rent and Additional Rent payable by Tenant under this Lease during the Term of the Transfer. Tenant shall provide Landlord with a detailed statement setting forth the calculation of any Transfer Profits Tenant either has or will derive from such Transfer. In addition, Landlord or its representative shall have the right at all reasonable times to audit the books and records of Tenant with respect to the calculation of the Transfer Profits. If such inspection reveals that the amount of Transfer Profits paid to Landlord was incorrect, then within ten (10) days of Tenant’s receipt of the results of such audit, Tenant shall pay Landlord the deficiency and the cost of Landlord’s audit.
Transfer Profits means all rent, additional rent or other consideration paid to Tenant by or on behalf of such Transferee in connection with the Transfer in excess of the monthly Base Rent and Additional Rent payable by Tenant under this Lease during the term of the Transfer (on a per square foot of Rentable Square Footage in the Premises basis if less than all of the Premises is transferred (unless all or a portion of the Subject Space is subject to different Rent and Additional Rent terms, in which case, to the extent applicable, such different terms shall be applicable)), after deducting the reasonable expenses incurred by Tenant for (i) any changes, alterations and improvements to the Premises in
Transfer Profits shall also include, but not be limited to, key money, bonus money or other cash consideration paid by Transferee to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to Transferee or for tangible assets (as opposed to Intellectual property), fixtures, inventory, equipment, or furniture transferred by Tenant to Transferee in connection with such Transfer. In the calculations of the Rent (as it relates to the Transfer Profits calculated under this Section 12.05), the Rent paid during each annual period for the Subject Space, shall be computed after adjusting such rent to the actual effective rent to be paid, taking into consideration any and all leasehold concessions granted in connection therewith, including, but no limited to, any rent credit and tenant improvement allowance. For purposes of calculating any such effective rent all such concessions shall be amortized on a straight-line basis over the relevant term. Tenant shall provide Landlord with a detailed statement setting forth the calculation of any Transfer Profits Tenant either has or will derive from such Transfer. In addition, Landlord or its representative shall have the right at all reasonable times to audit the books and records of Tenant with respect to the calculation of the Transfer profits. If such inspection reveals that the amount of Transfer Profits paid to Landlord was incorrect, then within ten (10) days of Tenant’s receipt of the results of such audit, Tenant shall pay Landlord the deficiency and the cost of Landlord’s audit.
Transfer Profits shall have the meaning set forth in Section 12.05.
Transfer Profits means all rent, additional rent or other consideration paid to Lessee by or on behalf of such transferee in connection with the Transfer for the right to occupy the Subject Space covered by this Section 13.4 in excess of the monthly Base Rent and Additional Rent payable by Lessee under this Lease during the term of the
Transfer Profits means all rent, additional rent or other consideration paid by or on behalf of such Transferee in connection with the Transfer in excess of the sum of (i) Monthly Base Rent and Additional Rent payable by Tenant under this Lease during the Term of the Transfer and (ii) any improvement allowance or other economic concession paid by Tenant to Transferee and (iii) brokers’ commissions paid by Tenant in connection with the Transfer. Tenant shall provide Landlord with a detailed statement setting forth the calculation of any Transfer Profits Tenant either has or will derive from such Transfer. In addition, Landlord or its representative shall have the right at all reasonable times to audit the books and records of Tenant with respect to the calculation of the Transfer Profits. If such inspection reveals that the amount of Transfer Profits paid to Landlord was incorrect, then within ten (10) days of Tenant’s receipt of the results of such audit, Tenant shall pay Landlord the deficiency and the cost of Landlord’s audit.