Common use of Triple Net Clause in Contracts

Triple Net. (a) The rent specified in this Lease shall be “triple net” to Landlord in each year, during the Term and any extension or modification thereof and the parties hereto intend that Landlord shall receive all Fixed Rent and all Additional Rent payable hereunder free and clear of any and all liability or responsibility of Landlord for impositions, taxes, liens, charges or expenses, offsets, or similar deductions of any nature whatsoever. (b) Tenant shall pay all costs, expenses and damage which are attributable to Tenant or the ownership, use or possession of the Premises and which, except for the execution of this Lease, would have been chargeable against the Premises or otherwise payable by the Landlord and Tenant shall indemnify and hold Landlord harmless against such expenses and obligations. Tenant shall pay, or cause to be paid all utility services rendered or furnished to the Premises, including but not limited to heat, water, gas, air-conditioning and electric, and shall pay or cause to be paid all fire protection, security protection, sewer treatment facilities, sanitation, janitorial, landscaping, snow and garbage removal, and the like, together with all taxes levied or other charges on such utilities. Tenant will be responsible for assuring that all billing statements for all utilities will be mailed directly to Tenant for payment. (c) Tenant understands and agrees that, except as provided otherwise herein, Landlord is to have no obligation whatsoever under this Lease or otherwise in respect of the repair, operation, maintenance and/or replacement of the Premises or for the quality or compliance with applicable law of its construction (or in either case, the lack thereof) with all such obligations being those of the Tenant, at its sole cost and expense. Except as specifically and expressly set forth in this Lease, Landlord is to furnish no improvements, equipment or fixtures of any kind, either on or to the interior or on or to the exterior of the Premises. It is agreed between the parties, that anything not expressly set forth herein which must be done in, on or to the Premises in order to make the same ready for Tenant’s business, will be done and accomplished by Tenant at its own cost and expense. The intent of the parties is that this Lease be “triple net” with no expenditures required by Landlord in connection with Tenant’s use, operation or maintenance of the Premises. (d) Notwithstanding the foregoing, Landlord may perform such repairs and/or alterations at or to the Premises (i) to the extent same is not performed by Tenant hereunder, and the cost of performing such work shall be charged against Tenant as Additional Rent, and (ii) as Landlord, in its sole discretion determines would improve or increase the value of the Premises, so long as such work does not impair Tenant’s ability to use the Premises as provided for herein.

Triple Net. (a) The rent specified This Lease is intended to be what is known in the real estate industry as an absolutely “triple net lease.” It is the intent of the parties hereto that the full amount of the Base Rent and Additional Rent payable under this Lease shall be “triple net” provide an absolutely net revenue return to Landlord in each yearthroughout the Term, during the Term and any extension or modification thereof and the parties hereto intend that Landlord shall receive all Fixed Rent and all Additional Rent payable hereunder free and clear of any and all liability or responsibility of Landlord for impositions, taxes, liens, charges or expenses, offsets, or similar deductions of any nature whatsoever. (b) Tenant shall pay all costscosts and expenses (operational, expenses and damage which are attributable to Tenant or the ownership, use or possession of the Premises and which, except for the execution of this Lease, would have been chargeable against the Premises or otherwise payable by the Landlord and Tenant shall indemnify and hold Landlord harmless against such expenses and obligations. Tenant shall paycapital, or cause to be paid all utility services rendered or furnished otherwise) relating to the Premises, including but not limited to heat, water, gas, air-conditioning and electric, and shall pay or cause to be paid all fire protection, security protection, sewer treatment facilities, sanitation, janitorial, landscaping, snow and garbage removal, and the like, together with all taxes levied or other charges on such utilities. Tenant will be responsible for assuring that all billing statements for all utilities will be mailed directly to Tenant for payment. (c) Tenant understands and agrees that, except Landlord’s Property as provided otherwise herein, Landlord is to have no obligation whatsoever under set forth in this Lease or otherwise in respect which Landlord would have had to pay (as the owner of the repairLandlord’s Property) if this Lease had not been executed (collectively, the “Operating Expenses”). Accordingly, Tenant shall pay all Base Rent and Additional Rent (including any all other amounts payable hereunder) without notice, demand, counterclaim, set-off, deduction, or defense, and without abatement, suspension, deferment, diminution or reduction, free from any charges, taxes, assessments, impositions, expenses or deductions of any and every kind or nature whatsoever. In addition, all costs, expenses, taxes, and obligations of every kind and nature whatsoever relating to Landlord’s or Tenant’s interest in the Landlord’s Property and the appurtenances to and the use and occupancy thereof by Tenant or anyone claiming by, through or under Tenant as Tenant hereunder which may arise or become due during or with respect to the Term (including all real estate taxes, insurance premiums, costs and expenses incurred by the Landlord pursuant to the Cedarhurst Easement or the Cedarhurst Lease, electricity, gas, water, sewer, telephone, refuse disposal, security, janitorial, waste disposal, and other charges for any similar utilities and services supplied to the Landlord’s Property and actual out-of-pocket, costs payable by Landlord, Tenant or anyone claiming by, through or under Tenant as Tenant hereunder arising by virtue of Tenant’s use and occupancy of the Landlord’s Property during the Term) shall be paid by Tenant. Any amount or payment obligation herein relating to the Landlord’s Property that is not expressly declared in this Lease to be that of Landlord shall be deemed to be an obligation of Tenant to be performed by Tenant at Tenant’s expense. Tenant assumes the sole responsibility for the condition, use, operation, maintenance and/or replacement maintenance, repair, restoration and management of the Premises or Landlord’s Property and Landlord shall have no responsibility in respect thereof and shall have no liability for the quality or compliance with applicable law of its construction (or in either case, the lack thereof) with all such obligations being those of the Tenant, at its sole cost and expense. Except as specifically and expressly set forth in this Lease, Landlord is to furnish no improvements, equipment or fixtures of any kind, either on or damage to the interior property of Tenant or on any subtenant of Tenant for any reason whatsoever, unless such damage is caused by the negligence of Landlord or to the exterior of the Premises. It is agreed between the partiesLandlord’s agents, that anything not expressly set forth herein which must be done incontractors, on invitees or to the Premises in order to make the same ready for Tenant’s business, will be done and accomplished by Tenant at its own cost and expense. The intent of the parties is that this Lease be “triple net” with no expenditures required by Landlord in connection with Tenant’s use, operation or maintenance of the Premises. (d) Notwithstanding the foregoing, Landlord may perform such repairs and/or alterations at or to the Premises (i) to the extent same is not performed by Tenant hereunder, and the cost of performing such work shall be charged against Tenant as Additional Rent, and (ii) as Landlord, in its sole discretion determines would improve or increase the value of the Premises, so long as such work does not impair Tenant’s ability to use the Premises as provided for herein.employees

Triple Net. (a) The rent specified in this Lease shall be “"triple net” " to Landlord in each year, during the Term and any extension or modification thereof and the parties hereto intend that Landlord shall receive all Fixed Rent and all Additional Rent payable hereunder free and clear of any and all liability or responsibility of Landlord for impositions, taxes, liens, charges or expenses, offsets, or similar deductions of any nature whatsoever. (b) Tenant shall pay all costs, expenses and damage which are attributable to Tenant or the ownership, use or possession of the Premises and which, except for the execution of this Lease, would have been chargeable against the Premises or otherwise payable by the Landlord and Tenant shall indemnify and hold Landlord harmless against such expenses and obligations. Tenant shall pay, or cause to be paid all utility services rendered or furnished to the Premises, including but not limited to heat, water, gas, air-conditioning and electric, and shall pay or cause to be paid all fire protection, security protection, sewer treatment facilities, sanitation, janitorial, landscaping, snow and garbage removal, and the like, together with all taxes levied or other charges on such utilities. Tenant will be responsible for assuring that all billing statements for all utilities will be mailed directly to Tenant for payment. (c) Tenant understands and agrees that, except as provided otherwise herein, Landlord is to have no obligation whatsoever under this Lease or otherwise in respect of the repair, operation, maintenance and/or replacement of the Premises or for the quality or compliance with applicable law of its construction (or in either case, the lack thereof) with all such obligations being those of the Tenant, at its sole cost and expense. Except as specifically and expressly set forth in this Lease, Landlord is to furnish no improvements, equipment or fixtures of any kind, either on or to the interior or on or to the exterior of the Premises. It is agreed between the parties, that anything not expressly set forth herein which must be done in, on or to the Premises in order to make the same ready for Tenant’s 's business, will be done and accomplished by Tenant at its own cost and expense. The intent of the parties is that this Lease be “"triple net” " with no expenditures required by Landlord in connection with Tenant’s 's use, operation or maintenance of the Premises. (d) Notwithstanding the foregoing, Landlord may perform such repairs and/or alterations at or to the Premises (i) to the extent same is not performed by Tenant hereunder, and the cost of performing such work shall be charged against Tenant as Additional Rent, and (ii) as Landlord, in its sole discretion determines would improve or increase the value of the Premises, so long as such work does not impair Tenant’s 's ability to use the Premises as provided for herein.