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.
A Mississippi Clause for Grossing Up the Tenant Proportionate Share is a provision commonly found in commercial leases that outlines the landlord's ability to gross up (or increase) the tenant's proportionate share of operating expenses to account for potential vacancies or unoccupied spaces in the building. This clause ensures that the landlord's share of expenses is covered even if certain portions of the property are not generating rental income. There are different types of Mississippi Clauses for Grossing Up the Tenant Proportionate Share that can be included in a lease agreement. These include: 1. Full Gross-Up: Under this type of clause, the tenant is responsible for reimbursing the landlord for all operating expenses based on their proportionate share, regardless of any vacancies or unoccupied spaces in the building. The tenant's share is grossed up to cover the full amount of expenses the landlord would have incurred if the property was fully occupied. This type of clause provides maximum protection for the landlord. 2. Partial Gross-Up: With a partial gross-up clause, the tenant is only responsible for reimbursing the landlord for a portion of the operating expenses. This partial gross-up may vary depending on the percentage of the building that is unoccupied or the duration of the vacancy. This type of clause offers some flexibility to the tenant while still ensuring the landlord's expenses are covered to some extent. 3. Gross-Up Cap: A gross-up cap sets a limit on the amount that the tenant is responsible for reimbursing the landlord for operating expenses. Once the expenses reach the cap amount, the tenant is no longer required to cover any additional costs. This type of clause provides a cap on the tenant's liability, offering some protection from unexpectedly high expenses. In conclusion, a Mississippi Clause for Grossing Up the Tenant Proportionate Share is an important provision in commercial leases. It ensures that the landlord's operating expenses are covered even if certain portions of the property are vacant. Different types of clauses, such as full gross-up, partial gross-up, and gross-up cap, provide various levels of protection and flexibility for both the landlord and the tenant.
