Annual Operating Expenses Clause Samples
The Annual Operating Expenses clause defines the recurring costs associated with the ongoing operation and maintenance of a property or business over a one-year period. This clause typically outlines which expenses are included, such as utilities, repairs, insurance, and management fees, and may specify how these costs are calculated or allocated among parties. Its core function is to provide transparency and predictability regarding financial obligations, helping to prevent disputes by clearly delineating what constitutes operating expenses each year.
Annual Operating Expenses. Tenant’s Share of Annual Operating Expenses applicable to the Premises shall continue to be paid by Tenant, in addition to the Minimum Annual Rent, subject to adjustment and reconciliation and in accordance with the terms and conditions of the Lease. For the calendar year 2018, Landlord projects Annual Operating Expenses for the Premises to be $4.85 per rentable square foot.
Annual Operating Expenses. (As a percentage of average net assets) Management Fee (after waiver)(2).............................................................. 0.00% 12b-1 Fee..................................................................................... 0.75% Total Other Expenses.......................................................................... 1.97% Shareholder Services Fee......................................................... 0.25% Total Operating Expenses(3)......................................................
Annual Operating Expenses. Tenant shall continue to pay Annual Operating Expenses and monthly installments on account of estimated Annual Operating Expenses based on Tenant’s Share, which shall be subject to reconciliation and adjustment as provided in Section 6 of the Lease (currently estimated to be $2,591.85 per month).
Annual Operating Expenses. Lessee shall pay for its "Pro Rata Share" (as defined below of all real estate taxes and assessments, including but not limited to, the West ▇▇▇▇▇▇▇ Business Improvement District (BID) assessments, with respect to the Building and Property in which the Leased Premises is located. Lessee shall also pay its Pro Rata Share of the Annual Operating Expenses (including, but not limited to, maintenance and repairs for the Building, including painting; interior and exterior repairs; roof repairs but not roof replacement; building maintenance; service contracts; insurance; utilities, including water and sewer not separately metered to the Leased Premises; Lessor's building insurance costs; provided, however, that, because Lessee is to provide its own janitorial and cleaning services, the costs of janitorial and cleaning services provided to tenants shall be deducted from "Annual Operating Expenses" before calculating Lessee's Pro Rate Share thereof; and administrative expenses not to exceed 9% of the total Annual Operating Expenses) as budgeted by Lessor for the Building in which the Leased Premises is located. Lessee's payment of said real estate taxes, assessments and expenses shall be paid the first (1st) day of each month in addition to Lessee's payment of rent. Lessee shall pay to Lessor its Pro Rata Share of 1/12th of such expenses, taxes and assessments. Prior to the commencement of each year of the Lease, Lessor shall notify Lessee of each such year's budgeted amount for expenses and Lessee shall increase or decrease its monthly payment to equal 1/12th of such amount. The failure of Lessor to so notify Lessee shall not relieve Lessee of its obligations to pay any increased expenses upon receipt of such notice. Lessor's annual expense budget shall be based on the prior calendar year's actual expenses. At the end of each calendar year, Lessee shall pay to Lessor any deficiency between the actual and budgeted expenses for such year and Lessee shall receive a credit towards the following year's expenses for any surplus.
Annual Operating Expenses. Tenant shall pay Annual Operating Expenses and monthly installments on account of estimated Annual Operating Expenses for the entire Premises (including the Additional Premises) based on Tenant’s Share, as amended pursuant to Section 1 of this Amendment, which shall be subject to reconciliation and adjustment as provided in Section 6 of the Lease. With respect to the Additional Premises only, Annual Operating Expenses for the Additional Premises for 2014 are estimated to be $22,283.08, payable in equal monthly installments of $1,856.92.
Annual Operating Expenses. Landlord’s good faith estimate of Annual Operating Expenses for 2019 is $4.60 per rentable square foot of space per year which amount excludes utilities and janitorial and trash removal expenses to be paid directly be Tenant as set forth in Section 7 below. Accordingly, from and after the Commencement Date, estimated Annual Operating Expenses shall be $92,004.60, payable in equal monthly installments of $7,667.05, subject to adjustment and reconciliation as provided in this Lease.
Annual Operating Expenses. All Additional Rent applicable to the Leased Premises shall continue to be paid by Tenant, in addition to the Base Rent, subject to adjustment and reconciliation and in accordance with the terms and conditions of the Lease.
Annual Operating Expenses. Tenant shall continue to pay Annual Operating Expenses, which shall be subject to reconciliation and adjustment as provided in Section 6 of the Lease, based on Tenant’s Share. As provided in the Lease, Tenant shall pay for all utilities supplied to or consumed in or on the Premises, including not but limited to electricity. For the year 2015, Annual Operating Expenses (net of electric) are estimated to be $5.50 per rentable square foot, which includes full service tenant services for interior and exterior, as well as preventative maintenance for all exhaust, heating and cooling equipment (the “Equipment”) in the Premises. In the event that the Equipment must be replaced by Landlord during the Term of the Lease, the cost (including reasonable finance charges) of such replacement shall be amortized over the estimated useful life of such Equipment and passed through to Tenant on a yearly basis as part of Tenant’s Operating Expenses.
Annual Operating Expenses. Tenant’s proportionate share of all Operating Expenses (as hereinafter defined) in excess of Operating Expenses for the Base Year (as hereinafter defined).
Annual Operating Expenses. Tenant shall pay Tenant’s Share of estimated Operating Expenses on a monthly basis throughout the Term, as the same may be extended, and such payment shall be due on or before the first day of each calendar month. Landlord may adjust the amount of the estimated Operating Expenses to conform to actual Operating Expenses and Tenant shall be obligated to pay such adjusted actual Operating Expenses. As of the Effective Date, Operating Expenses are $6.75 per square foot of the Premises. Notwithstanding any provision in this Lease to the contrary, Tenant's liability for Tenant's Share of Operating Expenses (excluding Noncontrollable Expenses, it being understood that Tenant shall pay Tenant's Share of Noncontrollable Expenses) for each calendar year shall not exceed an amount which would result from Operating Expenses (excluding Noncontrollable Expenses on a Dollar per square foot basis) increasing four percent (4%) per calendar year during the Term on a cumulative basis, it being understood that such four percent (4%) cap will not apply to Noncontrollable Expenses. "Noncontrollable Expenses" shall mean Landlord's costs of insuring the Building and its interest therein, the cost of utilities, snow and ice removal for the Building, and taxes.