This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
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Proportionate Share If the Premises are a part of a multiple tenancy complex, the responsibility of the Lessee for costs are determined by taking a percentage of the total cost of the expenses based upon the rentable floor space in said complex occupied by the Lessee.
Hear this out loud PauseIn general, the tenant's proportionate share is determined by taking the building's rentable square footage and dividing it by the tenant's rentable square footage. Local industry customs usually provide the landlord with the guiding principles for: Measuring the building.
Hear this out loud PauseYour pro rata share of household operating expenses is the average monthly household operating expenses (based on a reasonable estimate if exact figures are not available) divided by the number of people in the household, regardless of age.
Hear this out loud PauseTenant's Percentage Share means the percentage figure obtained by dividing the net rented area of the Premises specified hereinabove by the total net useable area of the rental space in the Building, and by multiplying such quotient by One Hundred (100).
More Definitions of Tenant's Proportion Tenant's Proportion is 18.562% and means the sum derived by dividing the Rentable Area of the Premises by the Rentable Area of the Building and multiplying by one hundred (100).
Hear this out loud PauseThe pro-rata share is the percentage of expenses shared by the tenant for the shopping center or office building. In most leases, the pro-rata share is calculated as a fraction of the tenant's demised square footage divided by the total square footage of the shopping center or the building.
Pro rata is a defined portion in relation to the entirety of an item. Instead of getting all of the items, someone can get a pro rata share, a proportional offering based on how much they are entitled to. For example, if I own 10% of a building, I may expect a pro rata share of 10% of the building's rental income.