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TopicUtility Clauses
Sub-TopicSupplemental HVAC
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Conduit Usage

If Tenant requires utilities or services in quantities greater than or at times other than that generally furnished by Landlord pursuant to Exhibit C, Tenant shall pay to Landlord, within…

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Fuel and Utility Cost Escalations

For the purposes of this Article only, the following words and terms shall have the following meanings: “Fuel Cost” shall mean Landlord’s cost for all fuel (including but not limited…

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HVAC System Maintenance Contract Requirement

Pro-Landlord Language: “Throughout the term of this Lease, Tenant shall at its own cost and expense (i) cause to be performed all maintenance of the HVAC system, equipment and facilities…

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A

Abatement: The reduction or elimination of a portion of rent during the lease term. Commonly referred to as “free rent,” “rent abatement” or a “rent concession.” An abatement may be…

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C

Capitalization Rate (a.k.a. “Cap Rate”): The rate of return on a real estate investment property based upon the income that the property is expected to produce. A capitalization rate can…

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E

Early Access: A provision in a lease allowing the tenant access to the space prior to receiving possession, without the payment of rent, during the latter part of landlord’s construction in…

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H

Hard Costs: The readily quantifiable costs of a construction project that become part of the improvements made such as land, a building, inventory, systems, equipment, or machines. These hard costs contrast…

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L

Land Lease: See “Ground Lease.” Landlord Approval | Landlord Consent: A situation in which a tenant must get the permission of landlord before proceeding with its course of action. Generally, situations…

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M

Master Lease | Over Lease: The primary lease that all other leases (e.g. a sublease) are subordinate to. Material Inducement: Based on a representation by the tenant to perform or…

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S

Sale-Leaseback: A real estate sales transaction in which the owner of a property sells the property to a buyer, and after the closing of title to the property, the seller…

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U

Unamortized Cost: The actual cost of an asset or concession less the depreciation or amortization of such item, generally on a straight line basis (e.g., landlord’s work and/or a brokerage commission,…

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