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.
New Hampshire Clause for Grossing Up the Tenant Proportionate Share: A Detailed Description In commercial lease agreements, the New Hampshire Clause for Grossing Up the Tenant Proportionate Share is a provision that addresses the calculation and adjustment of expenses related to a tenant's proportionate share of common area maintenance (CAM) charges in a multi-tenant property. This clause ensures fairness and accuracy in distributing expenses among all tenants. The purpose of the New Hampshire Clause for Grossing Up the Tenant Proportionate Share is to account for changes in occupancy levels within the building during a given year. It ensures that the tenant's share of CAM charges is based on the actual amount of space they occupy within the property, allowing for adjustments in case of vacancies or new leases. There are two common types of New Hampshire Clauses for Grossing Up the Tenant Proportionate Share: 1. Gross-up based on square footage: This type of clause calculates the tenant's proportionate share of CAM charges by considering the leased square footage in relation to the total leasable area of the property. If there are vacancies in the property, the clause requires the landlord to "gross up" the tenant's share, meaning they adjust it to reflect the property's full occupancy level. 2. Gross-up based on occupancy: In this variant of the clause, the tenant's proportionate share is calculated based on the number of occupied units or spaces within the building. If there are vacant spaces, the tenant's share is grossed up to account for a fully occupied property. Both types of New Hampshire Clauses for Grossing Up the Tenant Proportionate Share aim to ensure that each tenant contributes their fair share of expenses, regardless of occupancy levels. By utilizing these clauses, the landlord can maintain a predictable income stream to cover property expenses and minimize the impact of vacancies on overall CAM charges. Keywords: New Hampshire Clause, Grossing Up the Tenant Proportionate Share, commercial lease agreements, common area maintenance charges, CAM charges, multi-tenant property, occupancy levels, proportionate share, gross-up, square footage, occupancy, leased square footage, total leasable area, vacancies, fair share, predictable income stream.
