Vermont Clause for Grossing Up the Tenant Proportionate Share

State:
Multi-State
Control #:
US-OL709
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Word; 
PDF
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Description

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.

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FAQ

An exclusive use agreement is a contract clause typically used in commercial leases. It states that the tenant can only use the leased space for a specific purpose.

In general, the tenant's proportionate share is determined by taking the building's rentable square footage and dividing it by the tenant's rentable square footage. Local industry customs usually provide the landlord with the guiding principles for: Measuring the building.

An exclusive use clause, or ?exclusive,? reflects the agreement of the landlord to allow any other tenants within the shopping center to use their respective premises for a specific use, whether selling certain products or providing certain services.

For example, if a musician converts one room in the house into a studio, it would count as exclusive business use. In return they received a lease giving them exclusive use of the apartment of their choice.

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Vermont Clause for Grossing Up the Tenant Proportionate Share