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 Lima Arizona Clause for Grossing Up the Tenant Proportionate Share is a term commonly used in commercial lease agreements. It refers to a provision that outlines how the tenant's share of common area expenses will be calculated and adjusted based on changes in the overall expenses incurred by the landlord. The purpose of the clause is to ensure that the tenant's proportionate share of the common area expenses remains fair and reasonable, regardless of fluctuations in these expenses. In other words, if the landlord's expenses increase, the tenant's share will be "grossed up" to account for this increase and prevent an unfair burden on the tenant. There are a few different types of Lima Arizona Clauses for Grossing Up the Tenant Proportionate Share that can be included in lease agreements, depending on the specifics of the arrangement: 1. Simple Gross-Up Clause: This type of clause specifies that the tenant's proportionate share will be adjusted based on the percentage increase or decrease in the landlord's expenses. It may include a formula that calculates the grossed-up amount, taking into account factors like inflation or changes in operating costs. 2. Indexed Gross-Up Clause: In this variation, the tenant's share is adjusted by a predetermined index, such as the Consumer Price Index (CPI) or any other relevant cost-of-living index. This ensures that the tenant's share remains in line with the general market conditions and inflation rates. 3. Base Year Gross-Up Clause: This clause establishes a specific base year against which all adjustments are measured. The tenant's proportionate share is calculated based on the expenses incurred by the landlord during the base year, and any subsequent increase or decrease in expenses is allocated accordingly. 4. Expense Stop Gross-Up Clause: This type of clause sets a predetermined cap or limit on the total expenses that the tenant will be responsible for. If the landlord's expenses exceed the expense stop, the tenant's share is grossed up to cover the excess. Including a Lima Arizona Clause for Grossing Up the Tenant Proportionate Share in a commercial lease agreement provides clarity and protection for both the landlord and the tenant. It ensures that the tenant's share of common area expenses remains equitable and reflects changes in the overall costs incurred by the landlord.The Lima Arizona Clause for Grossing Up the Tenant Proportionate Share is a term commonly used in commercial lease agreements. It refers to a provision that outlines how the tenant's share of common area expenses will be calculated and adjusted based on changes in the overall expenses incurred by the landlord. The purpose of the clause is to ensure that the tenant's proportionate share of the common area expenses remains fair and reasonable, regardless of fluctuations in these expenses. In other words, if the landlord's expenses increase, the tenant's share will be "grossed up" to account for this increase and prevent an unfair burden on the tenant. There are a few different types of Lima Arizona Clauses for Grossing Up the Tenant Proportionate Share that can be included in lease agreements, depending on the specifics of the arrangement: 1. Simple Gross-Up Clause: This type of clause specifies that the tenant's proportionate share will be adjusted based on the percentage increase or decrease in the landlord's expenses. It may include a formula that calculates the grossed-up amount, taking into account factors like inflation or changes in operating costs. 2. Indexed Gross-Up Clause: In this variation, the tenant's share is adjusted by a predetermined index, such as the Consumer Price Index (CPI) or any other relevant cost-of-living index. This ensures that the tenant's share remains in line with the general market conditions and inflation rates. 3. Base Year Gross-Up Clause: This clause establishes a specific base year against which all adjustments are measured. The tenant's proportionate share is calculated based on the expenses incurred by the landlord during the base year, and any subsequent increase or decrease in expenses is allocated accordingly. 4. Expense Stop Gross-Up Clause: This type of clause sets a predetermined cap or limit on the total expenses that the tenant will be responsible for. If the landlord's expenses exceed the expense stop, the tenant's share is grossed up to cover the excess. Including a Lima Arizona Clause for Grossing Up the Tenant Proportionate Share in a commercial lease agreement provides clarity and protection for both the landlord and the tenant. It ensures that the tenant's share of common area expenses remains equitable and reflects changes in the overall costs incurred by the landlord.
