Examples of Base Electric Charge in a sentence
The Base Electric Charge relates to Tenant’s lights, plugs, receptacles and general office equipment; but does not include electric current for any of Tenant’s special equipment and facilities which shall be payable by Tenant as provided in Section 6.6 below.
Landlord has established the Base Electric Charge based upon a survey report of a third party engineering consultant and the presently installed electric facilities in the Premises and the current rate of payment established by the utility company for such electric service.
Following any such rate increase or other change affecting the Base Electric Charge and written notice to Tenant, this Lease shall automatically be modified by increasing the Additional Rent payable hereunder for the balance of the Lease Term in accordance with this Section and, as evidence of such modification, notice of any such increase in the Electrical Charge shall be delivered by Landlord to Tenant.
In any such case, Landlord shall have the right to furnish Tenant with an estimate (which estimate may be changed by Landlord from time to time) of the resulting increased payment amount in addition to the Base Electric Charge, and, upon and after the furnishing of any such estimate, Tenant shall, in addition to the Base Electric Charge, pay to Landlord one-twelfth (1/12) of the increased amount, payable on the first (1st) day of each month during the term, in advance.
It is expressly understood and agreed that the Base Electric Charge (as hereinafter defined) that is due hereunder are part of the additional rent due and owing and Tenant's failure to pay same as and when due shall be a material default hereunder.
Tenant will be responsible for all electric charges determined by such sub-meter, billed at the actual cost, including the actual cost to read the sub-meter and any and all actual maintenance costs in connection with the submeter, and billed as additional rent to Tenant each month (such charge shall be referred to herein as either the "sub-meter electric charge" or the "Base Electric Charge").
Owner and Tenant agree that the Base Electric Charge (hereinafter defined) represents the amount initially included in the annual Fixed Rent set forth in Section 37(b) hereof to cover the furnishing of such electric energy by Owner on a rent inclusion basis and that such Base Electric Charge component of Fixed Rent shall in no event be subject to reduction, but shall be subject to being increased as hereinafter provided.
In consideration of Tenant's timely payment of the Base Electric Charge and any escalation thereof as provided herein, Landlord shall, at Landlord's sole cost and expense, furnish (i) electric energy to the Demised Premises as is ordinarily and reasonably required by Tenant for use of the Demised Premises in accordance with the Permitted Use and (ii) electric for HYAC at its cost and expense during the Building's Hours.
In addition to the foregoing, Landlord shall have the right, during the Term, to increase the Base Electric Charge as a result of (and based upon the same percentage) increases in the rates charged by the applicable utility provider over those rates in effect on the date hereof, subject to Landlord providing copies of utility bills to the Tenant.
On October 1, 2010 and each successive Lease Year thereafter during the Term, Landlord and Tenant shall review the Utility Charges for electric and gas for the prior twelve (12) month period and if the Utility Charges for said period exceed, or are less than the Base Electric Charge and the Base Gas Charge, as the case may be, the Utility Reimbursement for gas and electric shall be modified accordingly for the next succeeding twelve (12) month period.