Triple Net definition

Triple Net means, with respect to a lease, a lease in which the tenant pays not only for the use of the premises but also for the landlord’s operating costs, including taxes, maintenance and insurance. In the case of the some of leases of the properties, the tenant is also required to pay a nominal monthly fee in respect of property management, reflecting the single-tenant nature of the properties;

Triple Net. This Lease shall be deemed to be “triple net” without cost or expense to City of any nature whatsoever relating to the Leased Property, including, without limitation, those relating to taxes, if any, insurance, repair, maintenance, use, care or operation.

Triple Net. PROVISION. (Optional). This provision shall be applicable. Tenant agrees that all duties and obligations to repair, maintain and provide utilities and services (paragraphs 6 and 7), to pay taxes and special assessments (paragraph 10) and to pay for casualty and liability insurance (paragraph 11) shall be borne solely by Tenant during the term of this lease. (If the parties select this provision, all duties and obligations set forth in paragraphs 6, 7, and 10 shall be performed by the Tenant).

Examples of Triple Net in a sentence

• Landlord and Tenant acknowledge that, except as otherwise provided to the contrary in this Lease, it is their intent and agreement that this Lease be a "TRIPLE NET" lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant's operation therefrom.

• In addition to the Base Rent, the Tenant shall be obligated to pay the following monthly expenses _ _ _ __ _ Landlord shall pay the following monthly expenses: _ _ _ _ _ _ _ ☐ - TRIPLE NET (NNN).

• In addition to the Base Rent, the Tenant shall be obligated to pay the following monthly expenses _ __ _ _ __ _ Landlord shall pay the following monthly expenses: _ _ _ _ _ _ ☐ - TRIPLE NET (NNN).

• In addition to the Rent and conditions above: The Lessee shall be responsible for the following monthly expenses: Lessor shall be responsible for the following monthly expenses: ☐ - TRIPLE NET (NNN).

• Landlord and Tenant acknowledge that, to the extent provided in this Lease, it is their intent and agreement that this Lease be a "TRIPLE NET" lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant's operation therefrom to the extent provided in this Lease.

More Definitions of Triple Net

Triple Net means all Taxes, Insurance and Maintenance obligations which shall be the sole responsibility of Lessee as provided in this Agreement. The Parties intend that this Agreement is intended to be a Triple Net agreement with all maintenance, repair, replacement, taxes, assessments, and insurance costs borne by Lessee and with no financials obligations by District whatsoever and shall be construed to the broadest extent possible in light of that intent.

Triple Net. The lease shall be "Triple Net". Tenant shall pay for all utilities, taxes and insurance associated with the Premises and Building. POSSESSION: Landlord to deliver the Premises in its "as-is, where-is, and with-all-faults" condition on the Commencement Date. RENT COMMENCEMENT: Rent will commence upon completion and certificate of occupancy of the Building and grounds improvements. RENEWAL TERM: Tenant shall have the option to renew, subject to Council approval, the Lease for three additional terms of 60 months. Upon renewal, the rent will increase by 2% each year.

Triple Net means Triple Net, Ltd., a Turks and Caicos company.

Triple Net. RENTAL INCOME. The "Triple Net" Rental Income shall be calculated by first (a) adding the Stabilized Base Rent (as defined above) for each Lease of the Vacant Site for the first twelve (12) month period of each Lease that Stabilized Rent is required to be paid and (b) subtracting therefrom the amount, if any, by which the pass-through amount for CAM, taxes and insurance (but excluding management fees) to be paid by a Tenant is less than 100% of such Tenant's proportionate share.

Triple Net. PROVISIONAL (OPTIONAL) INITIAL IF APPLICABLE Landlord Tenant Tenant agrees that all duties and obligations to repair, maintain and provide utilities and services (paragraphs 6 and 7), to pay taxes and special assessments (paragraph 10) and to pay for casualty and liability insurance (paragraph 11) shall be borne solely by Tenant during the term of this lease. (If the parties select this provision, all duties and obligations set forth in paragraphs 6, 7, 10 and 11 shall be performed by the Tenant). The Iowa State Bar Association 2016 Form No. 164, Lease - Business Property IowaDocs® Revised January 2016

Triple Net. The New Lease shall be triple-net basis with the Tenant assuming payment of all expenses associated with the operation of the Project including both fixed expenses, such as taxes and insurance, and all operating expenses, including maintenance, repair and replacement.

Triple Net. PROVISIONAL (OPTIONAL) X Tenant agrees that all duties and obligations to repair, maintain Landlord and provide utilities and services (paragraph 6 and 7), to pay taxes and special assessments (paragraph 10) and to pay for casualty and liability insurance (paragraph 11) shall be borne solely by the Tenant during the term of this lease.