Triple Net Lease. Landlord and Tenant acknowledge that, to the extent provided in this Lease, it is their intent and agreement that this Lease be a "TRIPLE NET" lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant's operation therefrom to the extent provided in this Lease. To the extent such costs and expenses payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but reimbursed by Tenant as Additional Rent.
Net Lease. This shall be a net Lease and Base Rent shall be paid to Landlord net of all costs and expenses, except as specifically provided to the contrary in this Lease. The provisions for payment of Operating Expenses and the Operating Expense Reconciliation are intended to pass on to Tenant and reimburse Landlord for all costs and expenses of the nature described in Paragraph 4.1. incurred in connection with the ownership, management, maintenance, repair, preservation, replacement and operation of the Building and/or Project and its supporting facilities and such additional facilities now and in subsequent years as may be determined by Landlord to be necessary or desirable to the Building and/or Project.
Landlord and Tenant entered into that certain Triple Net Lease, dated as of January 31, 2014 (the “Lease”), whereby Tenant currently leases levels 1, 2, 3 and 4 of the Power Plant Building of the Project known as the Seaholm Project located in Austin, Texas (the “Project”).
Initial "triple net charge per year $ 50,930.88
Initial triple net charge budget per month estimated at $ 0.13 cents per foot
This Lease shall be treated as a triple net lease in which the Tenant shall be responsible for all expenses of the leased facilities, whatever they may be, and shall promptly pay for any and all expenses incurred during the Term. Tenant shall pay to Landlord in lawful money of the United States, at the beginning of the Lease Term, in one payment of Twenty Thousand Twenty Nine Dollars ($20,029) in advance of the first
Lease. The Property is being sold subject to an existing Lease of the Property dated September 21, 2006 by and between Seller, as lessor (pursuant to that certain Assignment and Assumption of Lease and Guaranty dated December 29, 2006 by and between AEI Fund Management XVII, Inc., a Minnesota corporation, as assignor, and Seller, as assignee), and Apple Indiana II LLC, a Delaware limited liability company, as lessee (the "Tenant") and Guaranty by Apple American Group LLC dated September 21, 2006, as amended by that certain Amendment to Lease and Guaranty dated December 23, 2013 (collectively, the "Lease"). The Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, all right, title, and interest of Seller in and to all leases and other agreements to occupy all or any portion of the Property that are in effect on the Effective Date or which Seller executed prior to Closing (as hereinafter defined) pursuant to the terms of this Agreement.
New Lease; Lease Amendment. If Tenant leases the Station 5 Premises pursuant to this Paragraph 42, Landlord shall prepare, and Landlord and Tenant shall execute within thirty (30) days after Tenants delivery of the Expansion Exercise Notice, # a new lease demising the Station 5 Premises on the same terms and conditions of this Lease as modified pursuant to Paragraph 42.3 (for purposes of this Paragraph 42, the Station 5 Lease).
Amended Lease Payment. In [Section 9.06], , second paragraph, the parties agree that the second sentence shall be deleted and the following shall be inserted in lieu thereof:
Lease of Locations. At the Closing Purchaser shall enter into a lease with West Boynton Auto Services, Inc. for the Hagen Ranch location and with Reitano Enterprises, Inc. for the Jupiter Farms location, at a base rent respectively of and .
BROADSTONE NET LEASE, INC.
Net Equivalent Lease Rate.............................................................................................. [Exhibit G]
Additional Rent On the Commencement Date and on the first of each month thereafter Subtenant shall pay its pro-rata share of the estimated Additional Rent charged to Sublandlord by Master Landlord pursuant to Section 6.2 of the Master Lease and those costs charged to Sublandlord by Master Landlord pursuant to Master Lease (collectively Expenses) via wire or via cashiers check. The Sublease will be a triple-net (NNN) lease and the Subtenant will pay its Proportional Share of Expenses (including real property taxes, insurance, and maintenance) as paid by the Sublandlord and outlined by the Master Lease, without exclusion, as set forth in Exhibit D, Estimated Operating Expenses provided by Master Landlord. Subtenant shall also pay its Proportional Share of any third-party lobby staffing (not to exceed two (2) staff members), janitorial, and security access expenses incurred by Subtenant in the operation of the Building (Additional Expenses), as estimated and further set forth in Exhibit D. Within thirty (30) days of Sublandlord providing notice to Subtenant of the Subtenants pro-rata share of Expenses or other payments which are due under this Sublease, Subtenant shall pay such amounts. Subtenant remains responsible for paying all other amounts due under this Sublease.
Notwithstanding any other provision of this Agreement to the contrary, including the definitions of “Total Net Leverage Ratio”, “Secured Net Leverage Ratio”, “Consolidated EBITDA”, “Capitalized Lease” and “Indebtedness”, for purposes of this Agreement and the other Loan Documents, any lease by the Borrower or any of its Restricted Subsidiaries in respect of real property shall be treated as an operating lease and not as a Capitalized Lease.
OAK STREET REAL ESTATE CAPITAL NET LEASE PROPERTY FUND, LP
Lease Net Revenue Interest means the lessee’s share of total production from the lands covered by any Lease after deduction of Royalty Burdens.
Royalty on Net Sales. Licensee shall pay Harvard an amount equal to # XXX of Net Sales with respect to the first XXX of cumulative Net Sales, and # XXX of Net Sales with respect to cumulative Net Sales in excess of XXX.
Minimum Tangible Net Worth. Guarantor shall maintain Tangible Net Worth of not less than . Tangible Net Worth means, at any particular time, all amounts which, in conformity with GAAP (as defined in the Warehouse Agreement), would be properly included as owners equity on Guarantors balance sheet, but excluding # all assets which are properly classified as intangible assets, and # loans or advances to, or receivables from, any owner, officer or employee of Guarantor.
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