Triple Net Clause Samples
A Triple Net clause requires the tenant to pay, in addition to base rent, all costs associated with the property, including real estate taxes, insurance, and maintenance expenses. In practice, this means the tenant is responsible for nearly all ongoing property expenses, such as repairs, utilities, and property management fees, rather than the landlord. This clause shifts the financial burden of property ownership from the landlord to the tenant, ensuring predictable income for the landlord and clarifying expense responsibilities for both parties.
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Triple Net. This Lease is intended to be what is known in the real estate industry as an absolutely “triple net lease.” It is the intent of the parties hereto that the full amount of the Base Rent and Additional Rent payable under this Lease shall provide an absolutely net revenue return to Landlord throughout the Term, and that Tenant shall pay all costs and expenses (operational, capital, or otherwise) relating to the Landlord’s Property as set forth in this Lease or otherwise which Landlord would have had to pay (as the owner of the Landlord’s Property) if this Lease had not been executed (collectively, the “Operating Expenses”). Accordingly, Tenant shall pay all Base Rent and Additional Rent (including any all other amounts payable hereunder) without notice, demand, counterclaim, set-off, deduction, or defense, and without abatement, suspension, deferment, diminution or reduction, free from any charges, taxes, assessments, impositions, expenses or deductions of any and every kind or nature whatsoever. In addition, all costs, expenses, taxes, and obligations of every kind and nature whatsoever relating to Landlord’s or Tenant’s interest in the Landlord’s Property and the appurtenances to and the use and occupancy thereof by Tenant or anyone claiming by, through or under Tenant as Tenant hereunder which may arise or become due during or with respect to the Term (including all real estate taxes, insurance premiums, costs and expenses incurred by the Landlord pursuant to the Cedarhurst Easement or the Cedarhurst Lease, electricity, gas, water, sewer, telephone, refuse disposal, security, janitorial, waste disposal, and other charges for any similar utilities and services supplied to the Landlord’s Property and actual out-of-pocket, costs payable by Landlord, Tenant or anyone claiming by, through or under Tenant as Tenant hereunder arising by virtue of Tenant’s use and occupancy of the Landlord’s Property during the Term) shall be paid by Tenant. Any amount or payment obligation herein relating to the Landlord’s Property that is not expressly declared in this Lease to be that of Landlord shall be deemed to be an obligation of Tenant to be performed by Tenant at Tenant’s expense. Tenant assumes the sole responsibility for the condition, use, operation, maintenance, repair, restoration and management of the Landlord’s Property and Landlord shall have no responsibility in respect thereof and shall have no liability for damage to the property of Tenant or any subtenant of ...
Triple Net. The Outlet Lease remains a triple net lease.
Triple Net. LEASE AGREEMENT
Triple Net. It is the intent of Landlord and Tenant that Base Rent shall be paid to Landlord absolutely net of all costs and expenses, except as otherwise expressly set forth and subject to the limitations in this Lease. Except as otherwise expressly set forth and subject to the limitations in this Lease, the provisions for payment of Operating Expenses by means of periodic payment of Tenant’s Pro Rata Share of estimated Operating Expenses and the year-end adjustment of such payments are intended to pass on to Tenant and reimburse Landlord for ▇▇▇▇▇▇’s Pro Rata Share of all costs and expenses of the nature described in Article 3 of this Lease.
Triple Net. Each lease shall be a “pure” triple net lease in which the Developer will incur no additional operating expenses whatsoever, except for certain capital costs specified in the lease.
Triple Net. See Section 6.1
Triple Net. Except as otherwise provided, Subtenant acknowledges ---------- that the Minimum Monthly Rent payable to Sublandlord shall be absolutely net of any and all expenses of the Demised Premises (as modified by the provisions of Articles 7.3 and 8.2) and that Subtenant shall be obligated, at all times from and after the Execution Date, to pay Subtenant's Percentage Share of any and all expenses of the Demised Premises required to be paid by Sublandlord under the Prime Lease (including, without limitation, all taxes, utilities, insurance, and operating expenses [as such items are described in the Prime Lease and to the extent described in this Sublease, including, but not limited to, Paragraphs 7 and 8]), and that Sublandlord shall have no obligation to perform or pay any obligation of Prime Landlord or any third party under the Prime Lease or otherwise with respect to the Demised Premises, except and to the extent set forth otherwise in this Sublease; provided, however, Sublandlord shall perform and pay all of the obligations under the Prime Lease as they relate to the Adjacent Master Premises.
Triple Net. The annual base rent as set forth above, shall be ---------- absolutely net to Landlord during the original term and during the Renewal Term, and all costs, expenses and obligations of any nature whatsoever relating to the Demised Premises or any improvements thereon which may arise or become due during the term and Renewal Term of the Lease, shall be paid by Tenant, even if they are not expressly set out as Tenant's obligations in subsequent sections of this Lease.
Triple Net. This Lease is a triple net lease and in addition to the rents due hereunder, Tenant shall be responsible for all insurance, taxes, maintenance (including repair and replacement) expenses and management fee as hereinafter in this Lease more particularly described, it being generally understood and agreed that Landlord shall not be responsible for any costs or expenses in connection with the Premises during the term of this Lease and shall be entitled to a net return of the rental herein specified undiminished by the cost of insurance, taxes described in Article 4, and assessments for water, electrical, gas, sewer or other utility charges or levies of any kind or nature whatsoever, now or at any time hereafter, during the term of this Lease or any renewal or extension hereof, except where otherwise specifically provided to the contrary herein.
Triple Net. Nothing herein shall be so construed to affect the obligations of Tenant to pay Common Area Maintenance, Real Estate Taxes and other amounts due under the Lease, all of which, together with Base Rent, are deemed Rent. Notwithstanding the foregoing, the Tenant shall not have to pay any Additional Rent for the period April 1, 2011 through June 30, 2011.