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.
Collin Texas Clause for Grossing Up the Tenant Proportionate Share is a legal provision commonly included in commercial leases. This specific clause addresses the calculation and adjustment of the tenant's proportionate share of operating expenses, such as taxes, insurance, and common area maintenance fees, in a property located in Collin County, Texas. Under the Collin Texas Clause for Grossing Up the Tenant Proportionate Share, landlords have the right to annually "gross up" or adjust the tenant's proportionate share based on potential fluctuations in the overall operating expenses of the property. This adjustment is typically made to ensure that the tenant's share accurately reflects their fair portion of the total expenses, regardless of changes in factors like occupancy rates or property improvements. Keywords relevant to this topic may include: 1. Collin County, Texas: Highlighting the location of the property and indicating that the clause is specific to this county in Texas. 2. Clause for Grossing Up: Referring to the specific provision within the lease agreement that addresses the calculation and adjustment of the tenant's proportionate share. 3. Tenant Proportionate Share: Denoting the portion of the operating expenses that the tenant is responsible for, usually calculated based on the rented space's square footage compared to the total leasable area. Different types or variations of the Collin Texas Clause for Grossing Up the Tenant Proportionate Share may include: 1. Gross-Up Formula: This type of clause may outline the specific mathematical formula used to adjust the tenant's proportionate share. It may consider factors such as occupancy rates, inflation rates, or changes in property operating costs. 2. Annual Gross-Up: This variant of the clause may specify that the adjustment is made annually, usually at the end of the fiscal year or lease term. It ensures that the tenant's proportionate share accurately reflects any changes in expenses within that year. 3. Mid-Term Gross-Up: In some cases, a lease agreement may include a clause allowing for a mid-term adjustment of the tenant's proportionate share. This adjustment can be done if there are significant changes in operating expenses during the lease term, ensuring fairness and updated calculations. 4. Collaborative Gross-Up: This type of clause may outline the process of determining the adjusted proportionate share in collaboration between the landlord and tenant, allowing negotiation or mutual agreement on adjustments based on actual expenses. It is important for both landlords and tenants to understand the specifics of the Collin Texas Clause for Grossing Up the Tenant Proportionate Share in their lease agreement. This provision helps ensure that the operating expenses allocated to each tenant accurately reflect their fair share while considering potential fluctuations or changes. Consulting with legal professionals specializing in commercial leases can provide further guidance and assistance in drafting or understanding such a clause.Collin Texas Clause for Grossing Up the Tenant Proportionate Share is a legal provision commonly included in commercial leases. This specific clause addresses the calculation and adjustment of the tenant's proportionate share of operating expenses, such as taxes, insurance, and common area maintenance fees, in a property located in Collin County, Texas. Under the Collin Texas Clause for Grossing Up the Tenant Proportionate Share, landlords have the right to annually "gross up" or adjust the tenant's proportionate share based on potential fluctuations in the overall operating expenses of the property. This adjustment is typically made to ensure that the tenant's share accurately reflects their fair portion of the total expenses, regardless of changes in factors like occupancy rates or property improvements. Keywords relevant to this topic may include: 1. Collin County, Texas: Highlighting the location of the property and indicating that the clause is specific to this county in Texas. 2. Clause for Grossing Up: Referring to the specific provision within the lease agreement that addresses the calculation and adjustment of the tenant's proportionate share. 3. Tenant Proportionate Share: Denoting the portion of the operating expenses that the tenant is responsible for, usually calculated based on the rented space's square footage compared to the total leasable area. Different types or variations of the Collin Texas Clause for Grossing Up the Tenant Proportionate Share may include: 1. Gross-Up Formula: This type of clause may outline the specific mathematical formula used to adjust the tenant's proportionate share. It may consider factors such as occupancy rates, inflation rates, or changes in property operating costs. 2. Annual Gross-Up: This variant of the clause may specify that the adjustment is made annually, usually at the end of the fiscal year or lease term. It ensures that the tenant's proportionate share accurately reflects any changes in expenses within that year. 3. Mid-Term Gross-Up: In some cases, a lease agreement may include a clause allowing for a mid-term adjustment of the tenant's proportionate share. This adjustment can be done if there are significant changes in operating expenses during the lease term, ensuring fairness and updated calculations. 4. Collaborative Gross-Up: This type of clause may outline the process of determining the adjusted proportionate share in collaboration between the landlord and tenant, allowing negotiation or mutual agreement on adjustments based on actual expenses. It is important for both landlords and tenants to understand the specifics of the Collin Texas Clause for Grossing Up the Tenant Proportionate Share in their lease agreement. This provision helps ensure that the operating expenses allocated to each tenant accurately reflect their fair share while considering potential fluctuations or changes. Consulting with legal professionals specializing in commercial leases can provide further guidance and assistance in drafting or understanding such a clause.
