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 Alaska Clause for Grossing Up the Tenant Proportionate Share is a specific provision found in commercial lease agreements. This clause addresses the allocation of expenses related to the operating costs of a commercial property in Alaska. It aims to ensure that tenants proportionately contribute to these costs based on their occupied space. The Alaska Clause for Grossing Up the Tenant Proportionate Share typically includes specific language outlining the methodology for calculating and adjusting the tenant's share of operating expenses. This provision takes into account various factors, such as occupancy rates and changes in the property's total leasable area. There are different types of Alaska Clauses for Grossing Up the Tenant Proportionate Share that can be incorporated into lease agreements based on specific circumstances: 1. Standard Alaska Clause: This type of clause outlines a straightforward approach to calculating the tenant's proportionate share. It typically involves dividing the tenant's occupied square footage by the total leasable area to determine the percentage share. 2. Expense Stop Alaska Clause: With this clause, landlords establish an expense threshold or "stop" beyond which the tenant will not be responsible for additional costs. Once the cumulative expenses exceed the predetermined stop, the landlord bears the additional financial burden. 3. Gross-Up Alaska Clause: This clause accounts for vacant space or areas that are not generating rental income by including them in the calculation of the tenant's share. This ensures that each tenant contributes proportionately based on the property's total leasable area, regardless of vacancy. 4. Modified Gross-Up Alaska Clause: Similar to the gross-up clause, this provision considers the vacant space but applies a modified calculation to determine the tenant's share. It may exclude certain portions of vacant space or apply a different formula for calculating occupancy rates. In conclusion, the Alaska Clause for Grossing Up the Tenant Proportionate Share is an essential component of commercial lease agreements. It ensures fairness in distributing operating expenses among tenants based on their occupied space. Landlords and tenants must carefully consider the type of clause to include in their lease agreements based on their unique circumstances and preferences.
