Common use of Annual Operating Costs Clause in Contracts

Annual Operating Costs. The term "Annual Operating Costs" shall mean all costs Landlord incurs from owning, operating and maintaining the Building and the lot or tract of land on which it is situated (the "Property"). Annual Operating Costs shall include, by way of example rather than limitation: insurance costs, including premiums; fees; Impositions (defined below); costs for repairs, maintenance and service contracts; management fees; landscaping; snow removal; governmental permits fees; costs of compliance with governmental orders and regulations; administrative and overhead expenses; costs of the use of water, sewer, electricity, gas, fuel, and other utility services, for use in common areas of the Building and Property; and the cost of janitorial service and trash removal; excluding however, from Annual Operating Costs the following: costs which are treated as capital expenditures (except as provided in Section 10(b)) under generally accepted accounting principles; mortgage debt or ground rents incurred by Landlord as owner of the Proper; income, excess profits, corporate capital stock or franchise tax imposed or assessed upon Landlord, unless such tax or any similar tax is levied or assessed, in lieu of all or any part of any currently existing Imposition or an increase in any currently existing Imposition; leasing commissions, accountants', consultants' or attorneys' fees, costs and disbursement and other expenses incurred in connection with negotiations or disputes with tenants or prospective tenants or associated with the enforcement of any leases or the defense of Landlord's title to or interest in the Building in connection with any proceedings involving real property taxes other than disputes regarding tax assessment and reduction of real property taxes; costs of construction of the Building and related facilities and correction of defects in construction of the Building (including permit, license and inspection fees); costs of any items or services sold or provided to tenants (including Tenant) for which Landlord is entitled to be reimbursed by such tenants or which are not generally provided to all tenants of the Building; fees and higher interest charges caused by Landlord's refinancing the Building; all repairs to the interior of the Building of a structural nature (not made necessary by unusual use by Tenant); costs incurred due to violation by Landlord or any tenant of the terms and conditions of any lease; overhead and profit increment paid to subsidiaries or affiliates of Landlord, or to any party as a result of a noncompetitive selection process, for management or other services on or to the Building or for supplies or other materials, to the extent that the costs of such services, supplies or materials exceed the costs that would have been paid had the services, supplies or materials been provided by unaffiliated parties on a competitive basis; general overhead and administrative expenses except salaries of on-site property manager, management secretary and maintenance man; any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord, rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be for a capital nature, except equipment which is used in providing janitorial services and which is not affixed to the Building; all items and services for which Tenant reimburses Landlord or pays third persons or which Landlord provides selectively to one or more tenants or occupants of the Building (other than Tenant) without reimbursement; commissions, advertising, and promotional expenditures; costs incurred in managing or operating any parking facilities; nor any other expense which under generally accepted accounting principles and practice would not be considered a normal maintenance or repair expense. "Impositions" shall mean all levies, taxes, assessments, charges, imposts, and burdens, of whatever kind and nature, ordinary and extraordinary, which are assessed or imposed during the Term by any federal, state or municipal government or public authority or under any law, ordinance or regulation thereof or pursuant to any recorded covenants or agreements upon or with respect to the Property or any part thereof, any improvements thereto, any personal property necessary to the operation thereof and owned by Landlord this Lease. If under the requirements of any state or local law, a new Imposition is imposed upon Landlord which Tenant is prohibited by law from paying, Landlord may, as its election, terminate this Lease by giving written notice thereof to Tenant provided, however, that Landlord and Tenant shall first negotiate in good faith to resolve the issues raised by such change in law.

Appears in 1 contract

Samples: Lease (U S Interactive Inc/Pa)

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Annual Operating Costs. The term "Annual Operating Costs" shall mean all costs Landlord reasonably and necessarily incurs from owning, operating and maintaining the Building and the lot or tract of land on which it is situated (the "Property"). Annual Operating Costs shall include, by way of example rather than limitation: insurance costs, including premiums; fees; Impositions (defined below); costs for repairs, maintenance and service contracts; management fees; fees (not to exceed $.412 per rentable square foot per annum of the Premises for the first lease year, not to increase by more than three (3%) percent per lease year thereafter), landscaping; snow removal; governmental permits fees; costs of compliance with governmental orders and regulations; administrative and overhead expenses; costs of the use of furnishing water, sewer, electricity, gas, fuel, and other utility services, for use in common areas of the Building and Property; and the cost of janitorial service and trash removal; excluding excluding, however, from Annual Operating Costs the following: costs which are treated as capital expenditures (except as provided in Section Sections 9(e) and 10(b)) under generally accepted accounting principles; mortgage debt or ground rents incurred by Landlord as owner of the ProperProperty; income, excess profits, corporate capital stock or franchise tax imposed or assessed upon Landlord, unless (but only to the extent) such tax or any similar tax is levied or assessed, in lieu of all or any part of any currently existing Imposition or an increase in any currently existing Imposition; leasing commissions, accountants', consultants' or attorneys' fees, costs and disbursement and other expenses incurred in connection with negotiations or disputes with tenants or prospective tenants or associated with the enforcement of any leases or the defense of Landlord's ’s title to or interest in the Building and in connection with any proceedings involving real property taxes other than disputes regarding tax assessment and reduction of real property taxes; costs of construction of the Building and related facilities and correction of defects in construction of the Building (including permit, license and inspection fees); costs of any items or services sold or provided covered by any warranty to tenants (including Tenant) for which Landlord is entitled to be reimbursed by such tenants or which are not generally provided to all tenants the extent of the Building; warranty coverage, all financing costs, fees and higher interest charges caused by Landlord's ’s financing or refinancing the Building; all repairs to the interior of the Building of a structural nature (not made necessary by unusual use by Tenant (the parties agree that Tenant’s use in accordance with this Lease shall not be deemed unusual); costs incurred due to violation by Landlord or any tenant of the terms and conditions of any leaselease governmental, law order or regulation in existence as of the Commencement Date; overhead and profit increment paid to subsidiaries or affiliates of Landlord, or to any party as a result of a noncompetitive selection process, for management or other services on or to the Building or for supplies or other materials, to the extent that the costs of such services, supplies or materials exceed the costs that would have been paid had the services, supplies or materials been provided by unaffiliated parties on a competitive basis; general overhead and administrative expenses except salaries of on-site property manager, management secretary and maintenance manman (not to exceed the time devoted to the Building); any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord, Landlord and others; rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be for of a capital nature, except equipment which is used in providing janitorial services and which is not affixed to the Building; all items and services for which Tenant reimburses Landlord or pays third persons or which Landlord provides selectively to one or more tenants or occupants of the Building (other than Tenant) without reimbursementpersons; commissions, advertising, and promotional expenditures; costs incurred in managing or operating any parking facilities; resurfacing of the parking area or of the driveways on the Property; expenditures for which Landlord is reimbursed from any insurance carrier or from any other source; the cost of repairs or replacements incurred by reason of fire or other insured casualty or condemnation; depreciation; bad debt loss, rent loss, or reserves for either of them; taxes other than Impositions; costs for sculpture, decorations, paintings or other objects of art in excess of amounts typically spent for such items in office buildings of comparable quality in the competitive area of the Building; costs incurred by Landlord arising out of its failure to perform or breach any of its covenants, agreements, representations, warranties, guarantees or indemnities made under this Lease; fines or penalties incurred by Landlord due to violations of or non-compliance with any applicable legal requirements; costs incurred in the removal, abatement or other treatment of underground storage tanks or hazardous substances present in the Building or on or under the Property; the costs of installing, operating and maintaining a specialty improvement, including, but not limited to an athletic, luncheon or recreational club or facility; the value or lost income to Landlord of any office space in the Building which is utilized for the management of the Building; the cost of any capital improvement (including lease payments for rented equipment the cost of which would constitute a capital expenditure if purchased), which may be required by any governmental authority under any governmental law, regulation or order that was applicable to the Building as of the Commencement Date; nor any other expense which under generally accepted accounting principles and practice would not be considered a normal maintenance or repair expense. "Impositions" shall mean all levies, taxes, assessments, charges, imposts, and burdens, of whatever kind and nature, ordinary and extraordinary, which are assessed or imposed during the Term by any federal, state or municipal government or public authority or under any law, ordinance or regulation thereof or pursuant to any recorded covenants or agreements upon or with respect to the Property or any part thereof, any improvements thereto, any personal property necessary to the operation thereof and owned by Landlord or this Lease. If under the requirements of Lease but shall not include any federal, state or local lawincome, a new Imposition is imposed upon Landlord which Tenant is prohibited by law from payingfranchise, Landlord maycapital stock, as its election, terminate this Lease by giving written notice thereof to Tenant provided, however, that Landlord and Tenant shall first negotiate in good faith to resolve the issues raised by such change in lawestate inheritance or transfer taxes.

Appears in 1 contract

Samples: Office Lease (Icon PLC /Adr/)

Annual Operating Costs. The term "Annual Operating Costs" shall mean all costs Landlord incurs from owning, operating and maintaining the Building and the lot or tract of land on which it is situated (the "Property"). Annual Operating Costs shall include, by way of example rather than limitation: insurance costs, including premiums; fees; Impositions (defined below); costs for repairs, maintenance and service contracts; management fees; landscaping; snow removal; governmental permits fees; costs of compliance with governmental orders and regulations; administrative and overhead expenses; costs of the use of furnishing water, sewer, electricity, gas, fuel, and other utility services, for use in common areas of the Building and Property; and the cost of janitorial service and trash removal; excluding excluding, however, from Annual Operating Costs annual operating costs the following: costs which are treated as capital expenditures (except as provided in Section 10(b)) under generally accepted accounting principles; mortgage debt or ground rents incurred by Landlord as owner of the ProperProperty; income, excess profits, corporate capital stock or franchise tax imposed or assessed upon Landlord, unless such tax or any similar tax is levied or assessed, in lieu of all or any part of any currently existing Imposition or an increase in any currently existing Imposition; leasing commissions, accountants', consultants' or attorneys' fees, costs and disbursement and other expenses incurred in connection with negotiations or disputes with tenants or prospective tenants or associated with the enforcement of any leases or the defense of Landlord's title to or interest in the Building in connection with any proceedings involving real property taxes other than disputes regarding tax assessment and reduction of real property taxes; costs of construction of the Building and related facilities and correction of defects in construction of the Building (including permit, license and inspection fees); costs of any items or services sold or provided to tenants (including Tenant) for which Landlord is entitled to be reimbursed by such tenants or which are not generally provided to all tenants of the Building; fees and higher interest charges caused by Landlord's refinancing the Building; all repairs to the interior of the Building of a structural nature (not made necessary by unusual use by Tenant); costs incurred due to violation by Landlord or any tenant of the terms and conditions of any lease; overhead and profit increment paid to subsidiaries or affiliates of Landlord, or to any party as a result of a noncompetitive selection process, for management or other services on or to the Building or for supplies or other materials, to the extent that the costs of such services, supplies or materials exceed the costs that would have been paid had the services, supplies or materials been provided by unaffiliated parties on a competitive basis; general overhead and administrative expenses except salaries of on-site property manager, management secretary and maintenance man; any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord, rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be for a capital nature, except equipment which is used in providing janitorial services and which is not affixed to the Building; all items and services for which Tenant reimburses Landlord or pays third persons or which Landlord provides selectively to one or more tenants or occupants of the Building (other than Tenant) without reimbursement; commissions, advertising, and promotional expenditures; costs incurred in managing or operating any parking facilities; nor any other expense which under generally accepted accounting principles and practice would not be considered a normal maintenance or repair expense. "Impositions" shall mean all levies, taxes, assessments, charges, imposts, and burdens, of whatever kind and nature, ordinary and extraordinary, which are assessed or imposed during the Term by any federal, state or municipal government or public authority or under any law, ordinance or regulation thereof or pursuant to any recorded covenants or agreements upon or with respect to the Property or any part thereof, any improvements thereto, any personal property necessary to the operation thereof and owned by Landlord this Lease. If under the requirements of any state or local law, a new Imposition is imposed upon Landlord which Tenant is prohibited by law from paying, Landlord may, as its election, terminate this Lease by giving written notice thereof to Tenant provided, however, that Landlord and Tenant shall first negotiate in good faith to resolve the issues raised by such change in law.other

Appears in 1 contract

Samples: Office Space Lease (CRW Financial Inc /De)

Annual Operating Costs. The term "Annual Operating Costs" shall mean all costs Landlord incurs from owning, operating and maintaining the Building and the lot or tract of land on which it is situated (the "Property"). Annual Operating Costs shall include, by way of example rather than limitation: insurance costs, including premiums; fees; Impositions (defined below); costs for repairs, maintenance and service contracts; management fees; landscaping; snow removal; governmental permits fees; costs of compliance with governmental orders and regulations; administrative and overhead expenses; costs of the use of furnishing water, sewer, electricity, gas, fuel, and other utility services, for use in common areas of the Building and Property; and the cost of janitorial service and trash removal; excluding excluding, however, from Annual Operating Costs the --------- following: costs which are treated as capital expenditures (except as provided in Section 10(b)) under generally accepted accounting principles; mortgage debt or ground rents incurred by Landlord as owner of the ProperProperty; income, excess profits, corporate capital stock or franchise tax imposed or assessed upon Landlord, unless such tax or any similar tax is levied or assessed, in lieu of all or any part of any currently existing Imposition or an increase in any currently existing Imposition; leasing commissions, accountants', consultants' or attorneys' fees, costs and disbursement and other expenses incurred in connection with negotiations or disputes with tenants or prospective tenants or associated with the enforcement of any leases or the defense of Landlord's title to or interest in the Building in connection with any proceedings involving real property taxes other than disputes regarding tax assessment and reduction of real property taxes; costs of construction of the Building and related facilities and correction of defects in construction of the Building (including permit, license and inspection fees); costs of any items or services sold or provided to tenants (including Tenant) for which Landlord is entitled to be reimbursed by such tenants or which are not generally provided to all tenants of the Building; fees and higher interest charges caused by Landlord's Landlords refinancing the Building; all repairs to the interior of the Building of a structural nature (not made necessary by unusual use by Tenant); costs incurred due to violation by Landlord or any tenant of the terms and conditions of any lease; overhead and profit increment paid to subsidiaries or affiliates of Landlord, or to any party as a result of a noncompetitive selection process, for management or other services on or to the Building or for supplies or other materials, to the extent that the costs of such services, supplies or materials exceed the costs that would have been paid had the services, supplies or materials been provided by unaffiliated parties on a competitive basis; general overhead and administrative expenses except salaries of on-site property manager, management secretary and maintenance man; any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord, rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be for a capital nature, except equipment which is used in providing janitorial services and which is not affixed to the Building; all items and services for which Tenant reimburses Landlord or pays third persons or which Landlord provides selectively to one or more tenants or occupants of the Building (other than Tenant) without reimbursement; commissions, advertising, and promotional expenditures; costs incurred in managing or operating any parking facilities; nor any other expense which under generally accepted accounting principles and practice would not be considered a normal maintenance or repair expense. "Impositions" shall mean all levies, taxes, assessments, charges, imposts, and burdens, of whatever kind and nature, ordinary and extraordinary, which are assessed or imposed during the Term by any federal, state or municipal government or public authority or under any law, ordinance or regulation thereof or pursuant to any recorded covenants or agreements upon or with respect to the Property or any part thereof, any improvements thereto, any personal property necessary to the operation thereof and owned by Landlord this Lease. If under the requirements of any state or local law, a new Imposition is imposed upon Landlord which Tenant is prohibited by law from paying, Landlord may, as its election, terminate this Lease by giving written notice thereof to Tenant provided, however, that Landlord and Tenant shall first negotiate in good faith to resolve the issues raised by such change in law.which

Appears in 1 contract

Samples: Lease (Orapharma Inc)

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Annual Operating Costs. The term "Annual Operating Costs" shall mean all costs Landlord reasonably and necessarily incurs from owning, operating and maintaining the Building and the lot or tract of land on which it is situated (the "Property"). Annual Operating Costs shall include, by way of example rather than limitation: insurance costs, including premiums; fees; Impositions (defined below); costs for repairs, maintenance and service contracts; management feesfees not to exceed $0.40 per rentable square foot of the Premises for the first lease year not to increase by more than 3% per lease year thereafter; landscaping; snow removal; governmental permits fees; costs of compliance with governmental orders and regulations; administrative and overhead expenses; costs of the use of furnishing water, sewer, electricity, gas, fuel, and other utility services, for use in common areas of the Building and Property; and the cost of janitorial service and trash removal; excluding excluding, however, from Annual Operating Costs the following: costs which are treated as capital expenditures (except as provided in Section Sections 9(e) and 10(b)) under generally accepted accounting principles; mortgage debt or ground rents incurred by Landlord as owner of the ProperProperty; income, excess profits, corporate capital stock or franchise tax imposed or assessed upon Landlord, unless (but only to the extent) such tax or any similar tax is levied or assessed, in lieu of all or any part of any currently existing Imposition or an increase in any currently existing Imposition; leasing commissions, accountants', consultants' or attorneys' fees, costs and disbursement and other expenses incurred in connection with negotiations or disputes with tenants or prospective tenants or associated with the enforcement of any leases or the defense of Landlord's ’s title to or interest in the Building in connection with any proceedings involving real property taxes other than disputes regarding tax assessment and reduction of real property taxes; costs of construction of the Building and related facilities and correction of defects in construction of the Building (including permit, license and inspection fees); costs of any items or services sold or provided to tenants (including Tenant) for which Landlord is entitled to be reimbursed by such tenants or which are not generally provided to all tenants of the Building; costs of any items covered by any warranty to the extent of the warranty coverage, all financing costs, fees and higher interest charges caused by Landlord's ’s financing or refinancing the Building; all repairs to the interior of the Building of a structural nature (not made necessary by unusual use by Tenant (the parties agree that Tenant’s use in accordance with this Lease shall not be deemed unusual); costs incurred due to violation by Landlord or any tenant of the terms and conditions of any lease, governmental, law, order or regulation in existence as of the Commencement bate; overhead and profit increment paid to subsidiaries or affiliates of Landlord, or to any party as a result of a noncompetitive selection process, for management or other services on or to the Building or for supplies or other materials, to the extent that the costs of such services, supplies or materials exceed the costs that would have been paid had the services, supplies or materials been provided by unaffiliated parties on a competitive basis; general overhead and administrative expenses except salaries of on-site property manager, management secretary and maintenance manman (not to exceed the time devoted to the Building); any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord, Landlord and others; rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be for of a capital nature, except equipment which is used in providing janitorial services and which is not affixed to the Building; all items and services for which Tenant reimburses Landlord or pays third persons or which Landlord provides selectively to one or more tenants or occupants of the Building (other than Tenant) without reimbursement; commissions, advertising, and promotional expenditures; costs incurred in managing or operating any parking facilities; resurfacing of the parking area or of the driveways on the Property; expenditures for which Landlord is reimbursed from any insurance carrier or from any other source; the cost of repairs or replacements incurred by reason of fire or other insured casualty or condemnation; depreciation; bad debt loss rent loss, or reserves for either of them; taxes other than Impositions; costs for sculpture, decorations, paintings or other objects of art in excess of amounts typically spent for such items in office buildings of comparable quality in the competitive area of the Building; costs, expenses or expenditures relating to the duties, liabilities or obligations of other tenants in the Building; costs incurred by Landlord arising out of its failure to perform or breach any of its covenants, agreements, representations, warranties; guarantees or indemnities made under this or any other lease in the Building; fines or penalties incurred by Landlord due to violations of or noncompliance with any applicable legal requirements; costs incurred in the removal, abatement or other treatment of underground storage tanks or hazardous substances present in the Building or on or under the Property; the costs of installing, operating and maintaining a specialty improvement, including, but not limited to an athletic, luncheon or recreational club or facility; the value or lost income to Landlord of any office space in the Building which is utilized for the management of the Building; the cost of any capital improvement (including lease payments for rented equipment the cost of which would constitute a capital expenditure if purchased), which may be required by any governmental authority under any governmental law, regulation or order that was applicable to the Building as of the Commencement Date; nor any other expense which under generally accepted accounting principles and practice would not be considered a normal maintenance or repair expense. "Impositions" shall mean all levies, taxes, assessments, charges, imposts, and burdens, of whatever kind and nature, ordinary and extraordinary, which are assessed or imposed during the Term by any federal, state or municipal government or public authority or under any law, ordinance or regulation thereof or pursuant to any recorded covenants or agreements upon or with respect to the Property or any part thereof, any improvements thereto, any personal property necessary to the operation thereof and owned by Landlord or this Lease. If under the requirements of Lease but shall not include any federal, state or local lawincome, a new Imposition is imposed upon Landlord which Tenant is prohibited by law from payingfranchise, Landlord maycapital stock, as its election, terminate this Lease by giving written notice thereof to Tenant provided, however, that Landlord and Tenant shall first negotiate in good faith to resolve the issues raised by such change in lawestate inheritance or transfer taxes.

Appears in 1 contract

Samples: Lease (Icon PLC /Adr/)

Annual Operating Costs. The As used herein, the term "Annual Operating Costscosts" shall mean all the costs to Landlord incurs from owning, of operating and maintaining the Building and Property during each calendar year of the lot or tract of land on which it is situated (the "Property")Lease Term. Annual Operating Costs Such costs shall include, include by way of example rather than limitation: all real estate taxes and assessments, general or special, ordinary or extraordinary, imposed upon the Property (including all improvements thereto), all insurance costspremiums, including premiums; fees; Impositions (defined below); , impositions, costs for repairs, maintenance and maintenance, service contracts; , management fees; landscaping; snow removal; , governmental permits fees; permits, overhead expenses, costs of compliance with governmental orders and regulations; administrative and overhead expenses; costs of the use of furnishing water, sewer, electricity, gas, fuel, electricity and other utility services, for use in common areas janitorial service, trash removal, and the costs of any other items attributable to operating or maintaining any or all of the Building and Property; and the cost of janitorial service and trash removal; Property excluding however, from Annual Operating Costs the following: any costs which are treated as capital expenditures (except as provided in Section 10(b)) under generally accepted accounting principlesprinciples are capital expenditures; mortgage debt or ground rents incurred by Landlord as owner provided, however, that Annual Operating Costs shall also include the annual amortization (over the anticipated useful life) of the Proper; incomecost of a capital improvement, excess profitsplus any interest or financing charges thereon, corporate capital stock or franchise tax imposed or assessed upon Landlord, unless such tax or falling within any similar tax is levied or assessed, in lieu of all or any part of any currently existing Imposition or an increase in any currently existing Imposition; leasing commissions, accountants', consultants' or attorneys' fees, costs and disbursement and other expenses incurred in connection with negotiations or disputes with tenants or prospective tenants or associated with the enforcement of any leases or the defense of Landlord's title to or interest in the Building in connection with any proceedings involving real property taxes other than disputes regarding tax assessment and reduction of real property taxes; costs of construction of the Building and related facilities and correction following categories: (i) a labor-saving or energy-saving device or improvement which eliminates any other component of defects in construction of the Building (including permit, license and inspection fees); costs of any items or services sold or provided to tenants (including Tenant) for which Landlord is entitled to be reimbursed by such tenants Annual Operating Costs or which are not generally provided to all tenants of the Building; fees and higher interest charges caused by Landlord's refinancing the Building; all repairs to the interior of the Building of a structural nature (not made necessary by unusual use by Tenant); costs incurred due to violation by Landlord or reduces any tenant of the terms and conditions of any lease; overhead and profit increment paid to subsidiaries or affiliates of Landlord, or to any party as a result of a noncompetitive selection process, for management or other services on or to the Building or for supplies or other materials, to the extent that the costs of such services, supplies or materials exceed Annual Operating Costs from the costs that would have been paid incurred had the services, supplies such device or materials improvement not been provided installed; (ii) an installation or improvement required by unaffiliated parties on a competitive basis; general overhead and administrative expenses except salaries reason of on-site property manager, management secretary and maintenance man; any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord, rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be for a capital nature, except equipment which is used in providing janitorial services and which is not affixed to the Building; all items and services for which Tenant reimburses Landlord or pays third persons or which Landlord provides selectively to one or more tenants or occupants of the Building (other than Tenant) without reimbursement; commissions, advertising, and promotional expenditures; costs incurred in managing or operating any parking facilities; nor any other expense which under generally accepted accounting principles and practice would not be considered a normal maintenance or repair expense. "Impositions" shall mean all levies, taxes, assessments, charges, imposts, and burdens, of whatever kind and nature, ordinary and extraordinary, which are assessed or imposed during the Term by any federal, state or municipal government or public authority or under any law, ordinance or regulation thereof regulation, which requirement did not exist on the date of this Lease and is generally applicable to similar office buildings; or pursuant (iii) an installation or improvement which directly enhances safety of tenants in the Building generally. If Landlord shall receive an abatement of any real estate taxes or assessments imposed upon the Property, Landlord shall promptly pay or credit to any recorded covenants or agreements upon or with respect Tenant an amount equal to Tenant's share of the Property or any part thereofproceeds of such abatement, after deducting Landlord's cost in obtaining the same. If, due to a future change in the method of taxation, any improvements theretoother tax, any personal property necessary however designated, is imposed in substitution for or in addition to the operation thereof real estate taxes, then such other tax shall be included within Annual Operating Costs. The cost of all goods, services, labor and owned materials supplied or furnished by Landlord this at the written request of Tenant solely for the benefit of Tenant and/or the Leased Premises shall not be included within Annual Operating Costs and shall be paid by Tenant promptly upon being billed therefor. See Addendum to Agreement of Lease. If under the requirements of any state or local law, a new Imposition is imposed upon Landlord which Tenant is prohibited by law from paying, Landlord may, as its election, terminate this Lease by giving written notice thereof to Tenant provided, however, that Landlord and Tenant shall first negotiate in good faith to resolve the issues raised by such change in lawParagraph 3.(a).

Appears in 1 contract

Samples: Agreement of Lease (Softworks Inc)

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