Common use of Basic Operating Cost Clause in Contracts

Basic Operating Cost. (a) Basic Operating Cost shall mean all expenses and costs (but not specific costs that are separately billed to and paid by specific tenants) of every kind and nature that Landlord shall pay or incur or become obligated to pay or incur (including, without limitation, costs incurred by managers and agents that are reimbursed by Landlord) because of or in connection with the management, maintenance, preservation, ownership and operation of the Project and its supporting facilities directly servicing the Project (as allocated to the Project in accordance with generally accepted accounting principles, consistently applied) including, but not limited to the following: (1) Wages, salaries and reimbursable expenses and benefits of all on- site and off-site personnel engaged in the operation, maintenance and security of the Project and the direct costs of training such employees limiting such charges only to amounts directly allocable to services rendered by the employees and personnel for the benefit of the Project. (2) Costs of the property management office and office operation, but in no event shall such costs exceed those customarily charged by other landlords of comparable buildings located in the Northern San Mateo County area. (3) All supplies, materials and rental equipment used in the operation and maintenance of the Project, including, without limitation, temporary lobby displays and events, the cost of erecting, maintaining and dismantling art work and similar decorative displays commensurate with operation of a first-class office building, but excluding the cost of any and all art work purchased and owned by Landlord solely for aesthetic purposes. (4) Utilities, including, without limitation, water, power, gas, sewer, waste di sposal, communication and cable TV facilities, heating, cooling, lighting and ventilation of the Project.

Basic Operating Cost. (a) Basic Operating Cost shall mean all expenses and costs (but not specific costs that are separately billed to and paid by specific tenants) of every kind and nature that Landlord shall pay or incur or become obligated to pay or incur (including, without limitation, costs incurred by managers and agents that are reimbursed by Landlord) because of or in connection with the management, maintenance, preservation, ownership and operation of the Project and its supporting facilities directly servicing the Project (as allocated to the Project in accordance with generally accepted accounting principles, consistently applied) including, but not limited to the following: (1) Wages, salaries and reimbursable expenses and benefits of all on- on-site and off-site personnel engaged in the operation, maintenance and security of the Project and the direct costs of training such employees limiting such charges only to amounts directly allocable to services rendered by the employees and personnel for the benefit of the Project. (2) Costs of the property management office and office operation, but in no event shall such costs exceed those customarily charged by other landlords of comparable buildings located in the Northern San Mateo County area. (3) All supplies, materials and rental equipment used in the operation and maintenance of the Project, including, without limitation, temporary lobby displays and events, the cost of erecting, maintaining and dismantling art work and similar decorative displays commensurate with operation of a first-first- class office building, but excluding the cost of any and all art work purchased and owned by Landlord solely for aesthetic purposes. (4) Utilities, including, without limitation, water, power, gas, sewer, waste di sposaldisposal, communication and cable TV facilities, heating, cooling, lighting and ventilation of the Project.