Tenant Improvement Rent definition

Tenant Improvement Rent means the amount payable in equal monthly payments over the Initial Term of this Lease equal to the certified cost of the Tenant Improvement Program (defined in Exhibit “C”), amortized on a straight-line basis, without interest, over the Initial Term. Upon completion of the Tenant Improvement Program, Tenant, at its sole discretion, may elect to pay to Landlord all or a portion of the certified cost of the Tenant Improvement Program. If Tenant desires to pay in advance, Landlord must receive such payment within twenty (20) days upon completion of the Tenant Improvement Program. Any balance remaining after such twenty (20) day period will be subject to Tenant Improvement Rent payments.
Sample 1Sample 2Sample 3
Tenant Improvement Rent means the amount payable by Tenant as Rent pursuant to Section 10.1(a)(ii) hereof.
Sample 1
Tenant Improvement Rent means, with respect to a lease of all or a portion of a Collateral Property and on any date of determination, the rent associated with tenant improvements, as specified in such lease, and that is being amortized over a defined portion of the lease term at a defined interest rate. Notwithstanding the foregoing, should the Agent determine that the aggregate contract rent payable under such lease is approximately equal to the market rent for such Property (or portion thereof), within a reasonable range, then the Tenant Improvement Rent shall be zero.
Sample 1

Examples of Tenant Improvement Rent in a sentence

  • The Tenant Improvement Rent shall not be increased by the CPI-U (only the Base Rent).

  • Any balance remaining after such twenty (20) day period will be subject to Tenant Improvement Rent payments.

  • Tenant agrees to promptly pay all fees, in addition to its Ground Rent, Building Rent, Tenant Improvement Rent, and Additional Rent hereunder, for all water, sewer, gas, electric, trash removal, and other service facilities supplied to or consumed by Tenant relative to Tenant’s operations on the Leased Premises.

  • They have identified the negative impact of violence on various development results.

  • MAC and Tenant have agreed to have Tenant repay the $5.4 million over the course of 114 months, with monthly payments starting as of the first day of the seventh month following the Effective Date as follow: DESCRIPTION AMOUNT INTEREST RATE MONTHLY ANNUALLY TI Rent $ 5,400,000 5.75 % $ 61,588.58 $ 739,062.97 The Tenant Improvement Rent is subject to adjustment based upon the final amount of tenant improvement dollars MAC actually funds, not to exceed $5.4 million.

  • While this is likely, such a bargain and benefit and burden do not preclude a gift.

  • In the event this Lease terminates (for a reason other than a default by Tenant or Tenant’s exercise of the Lease Buyout Right) prior to the expiration of the aforesaid 114 months, then Tenant’s obligation to continue to pay the Tenant Improvement Rent on a monthly basis to MAC through the conclusion of said 114 month period shall cease and not survive the termination of this Agreement.

  • If Tenant fails to make any payment of Base Rent, Additional Rent, Additional Tenant Improvement Rent, or other amount within five (5) Business Days of the date due under this Lease, Tenant shall also pay a late charge equal to two and one-half percent (2.5%) of the amount of any such payment.

  • Monthly payments of Base Rent, Additional Rent, and Tenant Improvement Rent for the Phase I Premises and all other charges under this Lease shall commence as to the Phase I Premises on the “Phase I Rent Commencement Date” which shall be the earlier to occur of: (i) thirty (30) days following the date upon which the Landlord’s Work to the Phase I Premises is Substantially Complete or (ii) the date upon which the Tenant actually moves into occupancy of the Phase I Premises and conducts business therein.

  • When the aggregate amount of Tenant Improvement Rent has been determined, the parties shall execute and attach to this Lease a written statement specifying such amount, and the Security Deposit shall be increased to theamount of four (4) months of monthly Base Rent and four (4) months of monthly installments of Tenant Improvement Rent.

Related to Tenant Improvement Rent

  • Tenant Improvements Defined in Exhibit B, if any.

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Tenant Improvement Allowance in the maximum amount of $200.00 per rentable square foot in the Premises, which is included in the Base Rent set forth in the Lease; and

  • Landlord Work means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the “Work Letter”), if any, attached to this Lease as Exhibit C.

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Tenant’s Work means all improvements, alterations, fixture, equipment, and signage installation, and furniture placement necessary or appropriate for the conduct of the Permitted Use, including all work described as Tenant’s Work on Exhibit D, attached (the “Work Letter”).

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.

  • this Tenant Work Letter means the relevant portion of Sections 1 through 6 of this Tenant Work Letter.

  • Work Letter means the work letter between Landlord and Tenant regarding the construction of the Tenant Improvements, if any, in the form of Exhibit C.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Base Building Work means the base building work for the Building as described in this Manual.

  • Building Work has the meaning given to it in section 6 of the Building and Construction Industry (Improving Productivity) Act 2016 (Cth);

  • Leasehold Improvements means all leasehold improvements situated in or on the Leased Real Property and owned by Seller.

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Construction Work means any work in connection with⎯

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Subleased Premises means such portions of the Leased Premises being particularly identified on Schedule B, which the parties agree, for the purposes of this Sublease and any square footage calculations pursuant hereto, is approximately 42,244 square feet of office (21,068 square feet on the third floor and 21,176 square feet on the seventh floor) and approximately 9.4312% of common space (building rentable area is 447,917 square feet).

  • Customer Premises Equipment or "CPE" means equipment employed on the premises of a Person other than a Carrier to originate, route or terminate Telecommunications (e.g., a telephone, PBX, modem pool, etc.).

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • demolition work means a method to dismantle, wreck, break, pull down or knock down of a structure or part thereof by way of manual labour, machinery, or the use of explosives;

  • Base Building shall include the structural portions of the Building, the public restrooms and the Building mechanical, electrical and plumbing systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located. Tenant shall promptly provide Landlord with copies of any notices it receives regarding an alleged violation of Law. Tenant shall comply with the rules and regulations of the Building attached as Exhibit E and such other reasonable rules and regulations adopted by Landlord from time to time, including rules and regulations for the performance of Alterations (defined in Section 9).

  • Installation Work means the construction and installation of the System and the start-up, testing and acceptance (but not the operation and maintenance) thereof, all performed by or for Provider at the Premises.

  • Capital Improvement or "Capital Improvement Project" means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities of Local Subdivisions, including real property, interests in real property, and facilities and equipment of Local Subdivisions related or incidental thereto.