This office lease clause states the conditions under which the landlord can and can not furnish any particular item(s) of work or service which would constitute an expense to portions of the Building during the comparative year.
Rhode Island Clause for Grossing Up the Tenant Proportionate Share The Rhode Island Clause for Grossing Up the Tenant Proportionate Share is a provision commonly found in commercial lease agreements to allocate the expenses of operating and maintaining common areas in a commercial building among tenants. This clause ensures that tenants pay their fair share of the overall operating costs, based on the size of their leased space. In Rhode Island, there are several variations of the Clause for Grossing Up the Tenant Proportionate Share, each with specific considerations and requirements. Here are the main types: 1. Basic Rhode Island Clause for Grossing Up: This type of clause typically outlines the method for calculating the gross-up amount for each tenant's proportionate share of expenses. The formula may include factors such as the tenant's square footage compared to the total square footage of the building. 2. Expense Reimbursement Rhode Island Clause: This variation allows the landlord to recover the expenses incurred for operating and maintaining common areas, including utilities, maintenance, repairs, and insurance, in addition to a management fee. The clause may specify the expense categories eligible for reimbursement. 3. Variable Rhode Island Clause for Grossing Up: This clause is used when the expenses fluctuate over time due to factors like inflation or changes in the overall utility rates. It allows the landlord to adjust the tenant's proportionate share accordingly, ensuring a fair distribution of costs. 4. Pass-through Rhode Island Clause: In this type of clause, the landlord passes through expenses directly to the tenant, without a gross-up calculation. The tenant is responsible for paying their proportionate share of operating expenses directly to the respective service provider or reimbursing the landlord for expenses paid on their behalf. 5. Operating Expense Rhode Island Clause: This variation includes detailed provisions on the types of expenses included as part of the tenant's proportionate share. It may specify excluded expenses, such as capital expenses or expenses related to large-scale renovations. The Rhode Island Clause for Grossing Up the Tenant Proportionate Share is crucial in ensuring a fair allocation of operating expenses and avoiding disputes between landlords and tenants. When negotiating a commercial lease agreement in Rhode Island, it is essential to carefully review the specific type of clause included to understand the financial obligations and responsibilities regarding shared expenses.Rhode Island Clause for Grossing Up the Tenant Proportionate Share The Rhode Island Clause for Grossing Up the Tenant Proportionate Share is a provision commonly found in commercial lease agreements to allocate the expenses of operating and maintaining common areas in a commercial building among tenants. This clause ensures that tenants pay their fair share of the overall operating costs, based on the size of their leased space. In Rhode Island, there are several variations of the Clause for Grossing Up the Tenant Proportionate Share, each with specific considerations and requirements. Here are the main types: 1. Basic Rhode Island Clause for Grossing Up: This type of clause typically outlines the method for calculating the gross-up amount for each tenant's proportionate share of expenses. The formula may include factors such as the tenant's square footage compared to the total square footage of the building. 2. Expense Reimbursement Rhode Island Clause: This variation allows the landlord to recover the expenses incurred for operating and maintaining common areas, including utilities, maintenance, repairs, and insurance, in addition to a management fee. The clause may specify the expense categories eligible for reimbursement. 3. Variable Rhode Island Clause for Grossing Up: This clause is used when the expenses fluctuate over time due to factors like inflation or changes in the overall utility rates. It allows the landlord to adjust the tenant's proportionate share accordingly, ensuring a fair distribution of costs. 4. Pass-through Rhode Island Clause: In this type of clause, the landlord passes through expenses directly to the tenant, without a gross-up calculation. The tenant is responsible for paying their proportionate share of operating expenses directly to the respective service provider or reimbursing the landlord for expenses paid on their behalf. 5. Operating Expense Rhode Island Clause: This variation includes detailed provisions on the types of expenses included as part of the tenant's proportionate share. It may specify excluded expenses, such as capital expenses or expenses related to large-scale renovations. The Rhode Island Clause for Grossing Up the Tenant Proportionate Share is crucial in ensuring a fair allocation of operating expenses and avoiding disputes between landlords and tenants. When negotiating a commercial lease agreement in Rhode Island, it is essential to carefully review the specific type of clause included to understand the financial obligations and responsibilities regarding shared expenses.
