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.
Phoenix Arizona Clause for Grossing Up the Tenant Proportionate Share is a provision commonly found in commercial leases in Phoenix, Arizona. This clause addresses the potential increase in operating expenses for a commercial property and how these expenses are allocated among tenants. In the context of commercial leases, the proportionate share is the ratio of a tenant's leased space to the total leasable space in a property. The tenant's proportionate share will determine their responsibility for paying a portion of the operating expenses associated with the property, such as property taxes, insurance, utilities, and maintenance costs. The Phoenix Arizona Clause for Grossing Up the Tenant Proportionate Share involves a mechanism that allows the landlord to adjust the tenant's proportionate share of operating expenses to account for partial occupancy or vacant spaces within the property. This clause ensures that the tenants are fairly and accurately sharing the burden of operating expenses, taking into consideration the unoccupied areas of the property. There can be different types of Phoenix Arizona Clauses for Grossing Up the Tenant Proportionate Share, depending on the specific terms agreed upon by the landlord and the tenant. These may include: 1. Gross-Up Adjustment Clause: This type of clause allows the landlord to adjust the tenant's proportionate share to reflect the hypothetical full occupancy of the property. It ensures that the tenant's expenses are based on the assumption that all leased spaces are occupied, even if they are currently not. 2. Vacancy Allowance Clause: This clause provides for a deduction in the tenant's proportionate share to account for any vacant spaces within the property. It allows the tenant to pay a decreased share of operating expenses, reflecting the reduced burden due to unoccupied areas. 3. Partial Occupancy Adjustment Clause: In situations where a tenant occupies a portion of the leased space, this clause allows the landlord to adjust the proportionate share of operating expenses accordingly. It ensures that the tenant only pays for the actual occupied area rather than the entire leasable space. 4. Base Year Grossing Up Clause: This type of clause establishes a base year for operating expenses and requires the tenant to pay their proportionate share of any increase in expenses above that base year. It provides a benchmark for calculating future adjustments to the tenant's responsibility. It's important for both landlords and tenants in Phoenix, Arizona, to understand the specific details and terms of the grossing-up clause in their lease agreement. Consulting with a commercial real estate attorney or lease expert can help ensure that the clause is appropriately drafted, tailored to the unique circumstances of the property, and protects the interests of both parties involved.Phoenix Arizona Clause for Grossing Up the Tenant Proportionate Share is a provision commonly found in commercial leases in Phoenix, Arizona. This clause addresses the potential increase in operating expenses for a commercial property and how these expenses are allocated among tenants. In the context of commercial leases, the proportionate share is the ratio of a tenant's leased space to the total leasable space in a property. The tenant's proportionate share will determine their responsibility for paying a portion of the operating expenses associated with the property, such as property taxes, insurance, utilities, and maintenance costs. The Phoenix Arizona Clause for Grossing Up the Tenant Proportionate Share involves a mechanism that allows the landlord to adjust the tenant's proportionate share of operating expenses to account for partial occupancy or vacant spaces within the property. This clause ensures that the tenants are fairly and accurately sharing the burden of operating expenses, taking into consideration the unoccupied areas of the property. There can be different types of Phoenix Arizona Clauses for Grossing Up the Tenant Proportionate Share, depending on the specific terms agreed upon by the landlord and the tenant. These may include: 1. Gross-Up Adjustment Clause: This type of clause allows the landlord to adjust the tenant's proportionate share to reflect the hypothetical full occupancy of the property. It ensures that the tenant's expenses are based on the assumption that all leased spaces are occupied, even if they are currently not. 2. Vacancy Allowance Clause: This clause provides for a deduction in the tenant's proportionate share to account for any vacant spaces within the property. It allows the tenant to pay a decreased share of operating expenses, reflecting the reduced burden due to unoccupied areas. 3. Partial Occupancy Adjustment Clause: In situations where a tenant occupies a portion of the leased space, this clause allows the landlord to adjust the proportionate share of operating expenses accordingly. It ensures that the tenant only pays for the actual occupied area rather than the entire leasable space. 4. Base Year Grossing Up Clause: This type of clause establishes a base year for operating expenses and requires the tenant to pay their proportionate share of any increase in expenses above that base year. It provides a benchmark for calculating future adjustments to the tenant's responsibility. It's important for both landlords and tenants in Phoenix, Arizona, to understand the specific details and terms of the grossing-up clause in their lease agreement. Consulting with a commercial real estate attorney or lease expert can help ensure that the clause is appropriately drafted, tailored to the unique circumstances of the property, and protects the interests of both parties involved.
