Net Effective Rental Rate means the actual recurring contractual base rental payment required to be paid by a tenant under a Lease, taking into account any adjustment regarding Concessions.
Net Effective Rental Rate means the net present value of the rent and additional rent payable under the ROFR Notice, taking into account any allowances and the fair market value of any work to be performed by Landlord at its expense in connection with any such proposed transaction using a discount rate equal to the Prime Rate plus two percent (2%) as reported in the Wall Street Journal from time to time, or any successor published from time to time as reasonably selected by Landlord.
Net Effective Rental Rate means the net rental rate payable to Landlord under a lease net of all tenant inducements (e.g., tenant improvement allowances, rental abatements, moving allowances), with the cost of such tenant inducements, together with interest thereon at a rate of ten percent (10%) per annum, amortized over the term of such lease on a straight line basis.
Examples of Net Effective Rental Rate in a sentence
The term "Net Effective Rental Rate" shall mean the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions contained in the First Refusal Notice.
If Landlord desires to lease such Refusal Space at a Net Effective Rental Rate (hereinafter defined) less than ninety percent (90%) of the Net Effective Rental Rate offered to Tenant in the related Third Party Offer Notice or the size or configuration of the Refusal Space changes in any material respect, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms or adjusted Refusal Space.
Notwithstanding the foregoing, if Landlord desires to lease the entire office space at a Net Effective Rental Rate less than ninety percent (90%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Offer Space Notice hereunder on such lower terms.
For example, for office space at the Roundhouse Plaza in the northern waterfront, the proposed Minimum Initial Lease Rental Rate range is $2.75-3.25 per square foot, per month and the proposed Minimum Net Effective Rental Rate range is $2.50-3.00 per square foot per month.
If Landlord desires to lease such space at a Net Effective Rental Rate less than ninety-five percent (95%) of the Net Effective Rental Rate offered to Tenant, then such space shall again be offered to Tenant by a new Building 10 Offer Space Notice hereunder on such lower terms.
More Definitions of Net Effective Rental Rate
Net Effective Rental Rate means the quotient (expressed on a per square foot basis) calculated by dividing a numerator equal to the sum of the aggregate contractual base rental payments required to be paid by a tenant under a Lease, taking account any adjustment for Concessions, by a denominator equal to the number of years in the contractual term of the Lease.
Net Effective Rental Rate means the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions contained in the First Refusal Notice. If Landlord does not receive a response from Tenant in writing to Landlord’s First Refusal Notice by the Election Date, Tenant shall be deemed to have elected the option described in clause (ii) above. Notwithstanding anything herein to the contrary, Tenant may only exercise its right of first refusal with respect to all of the space described in the First Refusal Notice, and not a portion thereof. Upon request of Landlord, Tenant will also supply any reasonable financial information regarding Tenant reasonably requested by Landlord which is not available by public means (e.g., the internet).
Net Effective Rental Rate means the amount of rent received by Landlord after deducting for any allowances or concessions given to a tenant or Tenant (as the case may be), including without limitation the value of any work performed by Landlord prior to the application of any tenant improvement allowance, and net of any operating expenses and taxes where applicable. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first offer, if at all, with respect to all of the space comprising the First Offer Notice Space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof or object to any of the First Offer Economic Terms. If Landlord does not enter into a lease or leases for all of the First Offer Space identified by Landlord in such First Offer Notice within six (6) months after the date Landlord first delivered such First Offer Notice to Tenant, then Landlord shall submit to Tenant a new First Offer Notice with respect to any such unleased First Offer Space prior to the first time after such 6-month period that Landlord intends to lease such space to another party, provided that no Superior Right holder wishes to lease such space in accordance with its Superior Rights in which event the foregoing procedures shall again apply following Tenant’s receipt of such new First Offer Notice.
Net Effective Rental Rate means the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions contained in the First Refusal Notice. If after Tenant’s failure to exercise the right of first refusal as to a particular First Refusal Space Landlord leases such space, then upon the expiration of the term of such lease Tenant’s right of first refusal shall again apply to such space, subject, however to the Superior Rights and the prior right of the tenant under such lease to renew the term thereof, regardless of whether such renewal is pursuant to an express provision in such lease or pursuant to a lease amendment or new lease. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first refusal, if at all, with respect to all of the space comprising the First Refusal Space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof or object to any of the First Refusal Economic Terms.
Net Effective Rental Rate means the effective rental rate upon which Landlord is proposing to lease such space to a third party, taking into account such proposed economic terms as (i) the base rent; (ii) the base year; (iii) free rent (if any); (iv) tenant improvement allowance (if any); (v) Landlord’s construction obligations (if any) with respect to the Expansion Space; (vi) the length of the proposed term; and (vii) any other concessions or economic terms upon which Landlord proposes to lease such Expansion Space to a third party.
Net Effective Rental Rate means the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions. If Landlord fails to enter into a lease for the Identified Space with the party subject to the Pending Deal Notice within 6 months after Landlord’s delivery of the Pending Deal Notice to Tenant, Tenant’s Right of First Refusal shall be restored.
Net Effective Rental Rate means the rental rate, as adjusted to reflect the value of any free rent, tenant improvement allowance or similar monetary concessions, all as reasonably determined by Landlord. After the expiration of the 270-day period Landlord shall have no further liability to Tenant with respect to the Identified ROFO Space.