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.
The Clark Nevada Clause for Grossing Up the Tenant Proportionate Share is a crucial aspect of commercial real estate leases. It pertains to the calculation and adjustment of a tenant's share of expenses in situations where the property is not fully occupied or leased. The concept of grossing up the tenant proportionate share ensures that the tenant is charged fairly for their portion of expenses while accounting for the occupancy rate of the entire property. By employing this clause, landlords can distribute the expenses proportionally among tenants, maintaining an equitable balance. The Clark Nevada Clause for Grossing Up the Tenant Proportionate Share can be further categorized into two main types — the Full Occupancy Gross Up Clause and the Partial Occupancy Gross Up Clause. 1. Full Occupancy Gross Up Clause: This type of Clark Nevada Clause is utilized when the property is fully occupied. It mandates that the tenant pays a proportionate share of expenses based on the occupied square footage of their leased premises in relation to the total leasable area of the property. The tenant pays their proportionate share as if the property were fully occupied, even in instances where there are vacant units. 2. Partial Occupancy Gross Up Clause: When the property is not fully occupied, the Partial Occupancy Gross Up Clause comes into effect. This clause adjusts the tenant's proportionate share based on the actual occupancy rate of the property. The expenses are distributed among the occupied units only, taking into consideration the leasable area occupied by tenants. This clause prevents tenants from shouldering the expenses of vacant or unoccupied spaces within the property. The Clark Nevada Clause for Grossing Up the Tenant Proportionate Share is essential for maintaining transparency and fairness in commercial lease agreements. By implementing either the Full Occupancy Gross Up Clause or the Partial Occupancy Gross Up Clause, property owners can ensure that tenants contribute towards expenses according to the true occupancy rate, thus avoiding any undue financial burden.The Clark Nevada Clause for Grossing Up the Tenant Proportionate Share is a crucial aspect of commercial real estate leases. It pertains to the calculation and adjustment of a tenant's share of expenses in situations where the property is not fully occupied or leased. The concept of grossing up the tenant proportionate share ensures that the tenant is charged fairly for their portion of expenses while accounting for the occupancy rate of the entire property. By employing this clause, landlords can distribute the expenses proportionally among tenants, maintaining an equitable balance. The Clark Nevada Clause for Grossing Up the Tenant Proportionate Share can be further categorized into two main types — the Full Occupancy Gross Up Clause and the Partial Occupancy Gross Up Clause. 1. Full Occupancy Gross Up Clause: This type of Clark Nevada Clause is utilized when the property is fully occupied. It mandates that the tenant pays a proportionate share of expenses based on the occupied square footage of their leased premises in relation to the total leasable area of the property. The tenant pays their proportionate share as if the property were fully occupied, even in instances where there are vacant units. 2. Partial Occupancy Gross Up Clause: When the property is not fully occupied, the Partial Occupancy Gross Up Clause comes into effect. This clause adjusts the tenant's proportionate share based on the actual occupancy rate of the property. The expenses are distributed among the occupied units only, taking into consideration the leasable area occupied by tenants. This clause prevents tenants from shouldering the expenses of vacant or unoccupied spaces within the property. The Clark Nevada Clause for Grossing Up the Tenant Proportionate Share is essential for maintaining transparency and fairness in commercial lease agreements. By implementing either the Full Occupancy Gross Up Clause or the Partial Occupancy Gross Up Clause, property owners can ensure that tenants contribute towards expenses according to the true occupancy rate, thus avoiding any undue financial burden.
