Base Year for Operating Costs Sample Clauses
The 'Base Year for Operating Costs' clause establishes a specific year as the benchmark for calculating future increases in operating expenses under a lease agreement. Typically, the landlord is responsible for operating costs up to the amount incurred in the base year, while the tenant pays for any increases in subsequent years. For example, if the base year is set as the first year of the lease, the tenant would only be responsible for operating costs that exceed those of that initial year. This clause ensures a fair allocation of cost increases over time and provides clarity for both parties regarding their financial obligations.
Base Year for Operating Costs. 2016 (See Paragraph 3)
Base Year for Operating Costs. Effective as of the First Expansion Premises Commencement Date, the Base Year for Tenant’s Percentage of Operating Expenses, Taxes, Insurance Costs and Utilities Costs as to the First Expansion Premises will be those costs and expenses incurred and paid for the calendar year 2012. Effective as of the Second Expansion Premises Commencement Date, the Base Year for Tenant’s Percentage of Operating Expenses, Taxes, Insurance Costs and Utilities Costs as to the Second Expansion Premises will be those costs and expenses incurred and paid for the calendar year 2012.
Base Year for Operating Costs. During the Extension Term, the "
Base Year for Operating Costs. 2020 (See Paragraph 3) Base Year for Real Estate Taxes: 2020 (See Paragraph 3) Base Year for Utilities: 2020 (See Paragraph 3)
Base Year for Operating Costs. [Intentionally Omitted.]