Additional Rent Adjustment Clause Samples

Additional Rent Adjustment. Promptly after Purchaser completes the reconciliation of Additional Rent under each Tenant’s Lease for the calendar year in which the Closing Date occurred (the “Tenant’s Fiscal Year”), Sellers and Purchaser shall adjust the Closing Date proration of Additional Rent pursuant to Section 5.5.10(b) above, as follows: (i) The parties shall determine the aggregate amount of expenses that were incurred by Purchaser or by a Seller, that are reimbursable by such Tenant through Additional Rent under such Tenant’s Lease, and that are attributable to the Tenant’s Fiscal Year (“Reimbursable Expenses”). (ii) The parties shall determine (A) the total amount of Additional Rent actually received (by either Purchaser or a Seller) from the Tenant in respect of the Tenant’s Fiscal Year (including payments received pursuant to invoices for Additional Rent deficits determined as a result of year-end reconciliations) (collectively, the “Additional Rent Received”), (B) what portion of the Additional Rent Received was received by Purchaser and (C) what portion of the Additional Rent Received was received by a Seller. (iii) The parties shall determine the “Purchaser’s Share,” which shall be a percentage equal to (x) the portion of Reimbursable Expenses that was actually incurred by Purchaser after Closing (excluding those for which Purchaser received a credit at Closing), divided by (y) the total amount of the Reimbursable Expenses. As used herein, the term “Seller’s Share” means the result (expressed as a percentage) of subtracting the Purchaser’s Share from 100%.

Additional Rent Adjustment. Each Seller and Purchaser shall prorate the actual amount of Additional Rent paid by each Tenant at such Seller’s Property for such Tenant’s applicable fiscal year (“Tenant’s Fiscal Year”) as follows:

Additional Rent Adjustment. (a) The parties acknowledge that Landlord, at Tenant’s request, in order to accommodate Tenant’s expansion needs within the Building, is in the process of acquiring the real property known as Condominium Unit 100 in the Building (in which Premises C and E are located) from ▇▇▇▇ ▇▇▇▇▇▇▇▇ III, L.L.C. (“▇▇▇▇▇▇▇▇”). The parties further acknowledge that as a direct result of such acquisition, Landlord will incur substantial costs, of which Tenant has agreed to reimburse Landlord the amount of Six Hundred Twenty Thousand Dollars ($620,000.00) through the payment of additional rent. (b) Accordingly, Landlord and Tenant hereby agree that Tenant, in consideration of Landlord’s acquisition of said Unit 100, shall reimburse Landlord for said $620,000.00 (the “Reimbursement Amount”) in additional costs. Such reimbursement shall be made by Tenant to Landlord in consecutive equal monthly installments, in an amount equal to the quotient of (i) $620,000.00, divided by (ii) the number of full calendar months remaining in the Lease Term as of the Exchange Closing Date (e.g., if 100 months remain as of the Exchange Closing Date, the monthly payment amount shall be $6,200.00). Such monthly installments shall be deemed Additional Rent, and shall be due and payable to Landlord commencing on the first (1st) day of the first (1st) full calendar month following the Exchange Closing Date and thereafter, on the first day of each and every month for the balance of the Lease Term, which amounts shall be paid to Landlord at the same time and in the same manner as monthly installments of Basic Annual Rent. If the Lease is terminated for any reason prior to the expiration of the Lease Term, then any unpaid balance of the Reimbursement Amount shall be immediately due and payable by Tenant to Landlord.

Additional Rent Adjustment. If the Term begins on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, the Additional Rent payable for such month shall be prorated on a per diem basis over the number of days in the year.

Additional Rent Adjustment. Additional Rent costs are subject to adjustment to account for unbilled actual expenses each year. One half of these costs (or credits), if any, will be used to adjust the Fixed Cost in May. Club Owner may request a separate payment schedule for this adjustment.

Additional Rent Adjustment. Within a reasonable period, but no later than [REDACTED: TIME PERIOD] following the end of each Lease Year, the Landlord shall provide to the Tenant a detailed audited statement showing the amount of Additional Rent payable by the Tenant for that Lease Year. The Tenant shall be entitled to any reasonable additional information necessary to verify the accuracy of the actual amount of Additional Rent in such statement payable to the Landlord for that Lease Year. The Tenant shall be entitled to review and challenge, at its expense, the Additional Rent. Should such review reveal a discrepancy of greater than [REDACTED: PERCENTAGE] in the audited statements, [REDACTED: CONSEQUENCE OF DISCREPANCY]. If the amounts paid previously by the Tenant on account of its monthly instalments for Additional Rent for such Lease Year are less than the actual amount owed by the Tenant as Additional Rent for that Lease Year shown in the detailed audited statement, the deficiency shall be [REDACTED: CONSEQUENCE OF DISCREPANCY]. If the amounts previously paid by the Tenant on account of Additional Rent for such Lease Year exceed the actual amount owed by the Tenant as Additional Rent for that Lease Year shown on such statement, the Landlord shall, at its option, [REDACTED: CONSEQUENCE OF DISCREPANCY] of Minimum Rent or Additional Rent next coming due hereunder. Tenant agrees that it shall not be entitled to make any claim, including the commencing of an action against Landlord, with respect to any Additional Rent charges payable hereunder for any Lease Year unless such claim is made within [REDACTED: TIME PERIOD] after the date or which ▇▇▇▇▇▇▇▇ has delivered to Tenant the final detailed statement for such Lease Year; subject to any claim being made within the time as aforesaid, each final statement shall be final and binding on Tenant.

Additional Rent Adjustment. Sublessee agrees to pay its Proportionate Share (hereinafter defined) of all Property Operating Expenses payable by Sublessor under the Master Lease (collectively, “Additional Rent”). “Proportionate Share” means (i) 43.25% with respect to Property Operating Expenses relating to (x) the Common Areas benefiting or servicing the Subleased Premises (which are agreed to be limited to the driveways and parking areas of the Project), and (y) the maintenance, repair and/or replacement of the elevators in Building B, and (ii) 100% with respect to Property Operating Expenses relating solely to the Subleased Premises, in each case, subject to the limitations on Property Maintenance Costs set forth below, including as to capital expenses. Sublessee’s Proportionate Share of all Additional Rent shall be payable on the same terms as the “Additional Rent” under the Master Lease (except payable to Sublessor), including being subject to the annual reconciliation provided for in Paragraph 3.3 of the Master Lease. To the extent charges other than Property Operating Expenses are incurred by Sublessor under the Master Lease due to a breach by Sublessee of this Sublease, Sublessee will be responsible for the same and such charges shall also constitute Additional Rent hereunder. Notwithstanding the foregoing or anything else contained herein or the Master Lease to the contrary, for purposes of calculating the Additional Rent payable by Sublessee:

Additional Rent Adjustment. Article 1, Paragraph H shall be amended to reflect that the Tenant shall pay Tenant’s Share of Taxes and Expenses in excess of $7.61 per rentable square foot, as further described in Article 3.

Additional Rent Adjustment. Seller and Purchaser shall prorate the actual amount of Additional Rent paid by each Tenant for the fiscal year set forth in such Tenant’s Lease for the determination and payment of Additional Rent (the “Tenant’s Fiscal Year”). Such proration shall be made separately for each Tenant that is obligated to pay Additional Rent, as follows: (i) Seller shall be entitled to the portion of the actual amount of Additional Rent paid by the Tenant equal to the product obtained by multiplying such amount by a fraction, the numerator of which is the number of days in the Tenant’s Fiscal Year preceding the Closing Date and the denominator of which is the total number of days in the Tenant’s Fiscal Year; and (ii) Purchaser shall be entitled to the balance of the Additional Rent paid by the Tenant. In making the foregoing adjustment of Additional Rent, interim payments of Additional Rent collected and retained by Seller or Purchaser from each Tenant for the Tenant's Fiscal Year for periods before and after Closing, as the case may be, shall be taken into account. The adjustment of interim payments received and actual Additional Rent paid shall be made separately for each Tenant and for each type of Additional Rent.