Common use of Not Fully Occupied Clause in Contracts

Not Fully Occupied. Notwithstanding any other provision to the contrary, it is agreed that if the Building, in total, is less than ninety-five percent (95%) occupied during all or any portion of any calendar year (including, without limitation, the Base Year), an adjustment shall be made in calculating the Operating Expenses for the Project for such year so that Tenant’s Percentage of Operating Expenses in excess of the Base Year Operating Expenses shall be equivalent to the Operating Expenses calculated as though the Building, in total, had been ninety-five percent (95%) occupied during the entirety of such year.

Appears in 3 contracts

Samples: Office Lease Agreement (Geron Corp), Office Lease Agreement (Geron Corp), Office Lease Agreement (Corcept Therapeutics Inc)

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Not Fully Occupied. Notwithstanding any other provision to the contrary, it is agreed that if the Building, in total, is less than ninety-five percent (95%) occupied during all or any portion of any calendar year (including, without limitation, the Base Year)year, an adjustment shall be made in calculating the Operating Expenses for the Project for such year so that Tenant’s Percentage of Operating Expenses in excess of the Base Year Operating Expenses shall be equivalent to the Operating Expenses calculated as though the Building, in total, had been ninety-five percent (95%) occupied during the entirety of such year.

Appears in 1 contract

Samples: Office Lease Agreement (Spatializer Audio Laboratories Inc)

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Not Fully Occupied. Notwithstanding any other provision to the contrary, it is agreed that if the Building, in total, is less than ninety-five ninety‑five percent (95%) occupied during all or any portion of any calendar year (including, without limitation, including the Base Year), an adjustment shall be made in calculating the Operating Expenses for the Project for such year so that Tenant’s Percentage of Operating Expenses in excess of the Base Year Operating Expenses shall be equivalent to the Operating Expenses calculated as though the Building, in total, had been ninety-five ninety‑five percent (95%) occupied during the entirety of such year.,

Appears in 1 contract

Samples: Office Lease Agreement (Corcept Therapeutics Inc)

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