Common use of Common Area Expenses Clause in Contracts

Common Area Expenses. For each full or partial calendar year during the term of the Lease, Tenant shall pay to Landlord, as Additional Rent. Tenant’s Pro Rata Share (86.6%) of the “Common Area Expenses”. For the purposes of this section, Common Area Expenses shall be defined as one hundred percent (100%) of all reasonable costs and expenses incurred by or on behalf of Landlord in each calendar year in operating, maintaining, and repairing (which includes replacements, additions, and alterations) of common areas of the Building. These include, without limitation, a) the cost of maintaining and repairing all service pipes, electric, gas and water lines and sewer mains leading to and from the Premises; b) all costs incurred in painting, resurfacing, and landscaping; c) all costs for repairs and improvements, line painting and striping, lighting, removal of snow, grass cutting, cleaning of parking areas; d) all costs incurred in maintaining, repairing and replacing the paving, parking areas, curbs, gutters, sidewalks, and steps; e) all costs for repairs and improvements to roof and exterior walls; and f) management fees, overhead and expenses directly attributable to management of the Building. Landlord shall cap increases on all controllable expenses with the exception of snow removal at five (5%) percent per year cumulative. Exclusions to the above: a) commissions or advertising costs; b) costs of sale, financing, and refinancing; c) legal and accounting expenses not specifically for Tenant; d) costs of enforcement of Leases; e) ground rents; f) fines or penalties of any kind or nature, unless directly resulting from a default by Lease; g) costs of any services provided to any other Tenant in the project, and not made available to Tenant on the same basis; h) damage and repairs necessitated by the negligence or willful misconduct of the Landlord; I) any amount paid to the Landlord, the management agent or any affiliate of either of them, to the extent in excess of that negotiable on an arm’s length basis: j) the cost of repairs or work to the extent reimbursed or paid by insurance proceeds or covered by warranty and (k) any expense which under generally accepted accounting principals, should be capitalized, except as specifically permitted.

Appears in 1 contract

Samples: Tenant Improvement Agreement (Boston Biomedica Inc)

AutoNDA by SimpleDocs

Common Area Expenses. For each full or partial calendar year during (a) As used in this Lease, the term "Common Area Expenses" shall mean -------------------- all costs incurred by Landlord for the operation, maintenance and repair of the LeaseCommon Areas, Tenant including, without limitation, maintenance, repair and resurfacing of the parking areas and maintenance, repair and replacement of Common Area lighting standards (except that if the cost of such resurfacing or replacement is not fully chargeable to current account in the year incurred in accordance with generally accepted accounting principles, such cost shall pay be amortized over its useful life and only the yearly amortization included in Common Area Expenses); cleaning, sweeping, repainting and restriping the parking areas; maintenance of refuse receptacles, landscaping, common utility lines serving all tenants of the Shopping Center, directional signs and other markers; Common Area utility costs; costs of Landlord's policy of commercial general liability insurance for the Common Areas maintained pursuant to Section 12(b) below, and ------------- an All Risk Policy for Common Area improvements in an amount equal to the full replacement value thereof (subject only to reasonable deductible amounts) which shall be maintained by Landlord; and a reasonable fee for Landlord's supervision and administration of such obligations with respect to the Common Areas, as Additional Rent. Tenant’s Pro Rata Share provided that in no event shall such supervision and administration fee exceed ten percent (86.610%) of the total Common Area Expenses exclusive of such insurance costs. Except to the extent specifically otherwise provided in this Lease, in no event shall "Common Area Expenses”. For the purposes of this section" include any expenditures which, Common Area Expenses shall be defined as one hundred percent (100%) of all reasonable costs and expenses incurred by or on behalf of Landlord in each calendar year in operating, maintaining, and repairing (which includes replacements, additions, and alterations) of common areas of the Building. These include, without limitation, a) the cost of maintaining and repairing all service pipes, electric, gas and water lines and sewer mains leading to and from the Premises; b) all costs incurred in painting, resurfacing, and landscaping; c) all costs for repairs and improvements, line painting and striping, lighting, removal of snow, grass cutting, cleaning of parking areas; d) all costs incurred in maintaining, repairing and replacing the paving, parking areas, curbs, gutters, sidewalks, and steps; e) all costs for repairs and improvements to roof and exterior walls; and f) management fees, overhead and expenses directly attributable to management of the Building. Landlord shall cap increases on all controllable expenses accordance -------------------- with the exception of snow removal at five (5%) percent per year cumulative. Exclusions to the above: a) commissions or advertising costs; b) costs of sale, financing, and refinancing; c) legal and accounting expenses not specifically for Tenant; d) costs of enforcement of Leases; e) ground rents; f) fines or penalties of any kind or nature, unless directly resulting from a default by Lease; g) costs of any services provided to any other Tenant in the project, and not made available to Tenant on the same basis; h) damage and repairs necessitated by the negligence or willful misconduct of the Landlord; I) any amount paid to the Landlord, the management agent or any affiliate of either of them, to the extent in excess of that negotiable on an arm’s length basis: j) the cost of repairs or work to the extent reimbursed or paid by insurance proceeds or covered by warranty and (k) any expense which under generally accepted accounting principalsprinciples, should be capitalized, except as specifically permittedare not fully chargeable to current account in the year the expenditure is incurred.

Appears in 1 contract

Samples: Lease (Sport Chalet Inc)

Common Area Expenses. For each full or partial calendar year during the term of the Lease, Tenant shall pay to Landlord, as Additional Rent. Tenant’s Pro Rata Share (86.6%) of the “Common Area Expenses”. For the purposes of this section, Common Area Expenses shall be defined as one hundred percent (100%) The amount of all reasonable costs and expenses incurred by or on behalf of Landlord in each calendar year in operatingconnection with the provision, maintainingoperation, management, maintenance, replacement and repairing (which includes replacements, additions, and alterations) of common areas repair of the BuildingCenter. These include, without limitation, a) Tenants will be required to pay their proportionate share of the cost of maintaining Landlord’s management, operation and repairing maintenance of the Common Area, as well as the other commonly shared costs, which may be incurred by Landlord in its discretion, included, among other costs, all service pipescosts of the following: lighting, electricpainting, gas cleaning, policing, inspecting, repairing, replacing Common Area elements; trash removal, insect and pest treatments and eradication (whether in the Common Area or for the building(s) of the Center); security (if and to the extent Landlord provides security); environmental protection improvements or devices and health and safety improvements and devices which may be required by applicable laws (including the maintenance, repair and replacement of same); charges and assessments paid by Landlord pursuant to any reciprocal easement or comparable document affecting the Center; and the management fees which Landlord pays for the management of the Center in an amount not to exceed fifteen percent (15%) of the total of all other Common Area Expenses. In addition, although the roof(s), sewer and water lines servicing the Center, fire-protection systems and devices, if any (such as sprinkler systems, if any), and exterior surfaces of the building(s) in the Center are not literally part of the Common Area, Landlord and Tenant agree that all costs incurred by Landlord for all sewer and water lines and sewer mains leading to and from the Premises; b) all costs incurred in paintingother equipment (including maintenance, resurfacingrepair, and landscaping; c) all costs replacement of same), for repairs fire-protection equipment and improvementsdevices (including maintenance, line repair and replacement of same), for exterior painting and striping, lighting, removal of snow, grass cutting, cleaning of parking areas; d) all costs incurred in maintaining, repairing for roof maintenance and replacing the paving, parking areas, curbs, gutters, sidewalks, and steps; e) all costs for repairs and improvements to roof and exterior walls; and f) management fees, overhead and expenses directly attributable to management of the Building. Landlord repair shall cap increases on all controllable expenses with the exception of snow removal at five (5%) percent per year cumulative. Exclusions to the above: a) commissions or advertising costs; b) costs of sale, financing, and refinancing; c) legal and accounting expenses not specifically for Tenant; d) costs of enforcement of Leases; e) ground rents; f) fines or penalties of any kind or nature, unless directly resulting from a default by Lease; g) costs of any services provided to any other Tenant be included in the project, and not made available Common Area Expenses pursuant to Tenant on the same basis; h) damage and repairs necessitated by the negligence or willful misconduct of the Landlord; I) any amount paid to the Landlord, the management agent or any affiliate of either of themthis Section, to the extent not specifically allocated to Tenant under this Lease nor another tenant pursuant to its lease. Notwithstanding anything to the contrary contained in excess of that negotiable on an arm’s length basis: j) the cost of repairs or work this Lease, to the extent reimbursed or paid by insurance proceeds or covered by warranty and (k) that any expense which under item comprising a portion of Common Area Expenses is a capital expenditure, then such item shall be amortized over its useful life in accordance with generally accepted accounting principals, should be capitalized, except as specifically permittedprinciples.

Appears in 1 contract

Samples: Lease Agreement (Neoleukin Therapeutics, Inc.)

AutoNDA by SimpleDocs

Common Area Expenses. For each full or partial calendar year during During the term of this Lease Landlord shall keep or cause the Leasecommon area to be kept in a neat, Tenant clean and orderly condition, properly lighted and landscaped, and shall pay repair any damage to Landlordthe facilities thereof, as Additional Rent. Tenant’s Pro Rata Share (86.6%) of the “Common Area Expenses”. For the purposes of this section, Common Area Expenses shall be defined as one hundred percent (100%) of but all reasonable costs and expenses incurred by or on behalf of Landlord in connection therewith shall be charged and prorated in the manner hereinafter set forth. It is understood and agreed that the term "costs and expenses incurred" shall mean all sums expended by Landlord for payment of all work deemed necessary by Landlord (in its sole discretion) for the operation, maintenance, replacement and repair of the common area (the "Common Area Expenses"), including the following (the specific recitation of which shall not be deemed to limit the definition of such costs and expenses), resurfacing, restriping, cleaning and sweeping the parking area; painting; janitorial services; maintenance; repair and replacement when necessary of roofs, sidewalks, curbs, bumpers, all Property signs, planting, and landscaping, and lighting and other utilities; operation, maintenance and repair of any common fire protection systems, automatic sprinkler systems and storm drainage systems; personnel to implement such services including the cost of security guards; police and fire protection services; any assessments imposed by governmental agencies; cost of utility services; depreciation on maintenance and operating machinery and equipment, if owned, and rental paid for such machinery and equipment if rented; public liability and property damage insurance on the common area; worker's compensation insurance for personnel; and (i) administrative and overhead costs equal to ten percent (10%] of the common area costs not to exceed $500. per month during the first 2 terms of the Lease; and (ii) in the event Landlord supervises, manages and maintains the common area, an amount equal to five percent (5%)] of the gross rentals received by Landlord from tenants at the Property for each calendar year ("gross rentals"); or (iii) in operatingthe event an independent contractor supervises, maintainingmanages and maintains the common area, and repairing (which includes replacements, additions, and alterations) of common areas of the Building. These include, without limitation, a) the cost of maintaining and repairing all service pipes, electric, gas and water lines and sewer mains leading an amount equal to and from the Premises; b) all costs incurred in painting, resurfacing, and landscaping; c) all costs for repairs and improvements, line painting and striping, lighting, removal of snow, grass cutting, cleaning of parking areas; d) all costs incurred in maintaining, repairing and replacing the paving, parking areas, curbs, gutters, sidewalks, and steps; e) all costs for repairs and improvements to roof and exterior walls; and f) management fees, overhead and expenses directly attributable to management of the Building. Landlord shall cap increases on all controllable expenses with the exception of snow removal at five percent (5%) percent per year cumulative. Exclusions )] of the gross rentals to the above: a) commissions or advertising costs; b) costs of sale, financing, independent contractor and refinancing; c) legal and accounting expenses not specifically for Tenant; d) costs of enforcement of Leases; e) ground rents; f) fines or penalties of any kind or nature, unless directly resulting from a default by Lease; g) costs of any services provided an amount equal to any other Tenant in the project, and not made available to Tenant on the same basis; h) damage and repairs necessitated by the negligence or willful misconduct [ Three percent (3%)] of the Landlord; I) any amount paid gross rentals to Landlord for its supervision of the Landlord, the management agent or any affiliate of either of them, to the extent in excess of that negotiable on an arm’s length basis: j) the cost of repairs or work to the extent reimbursed or paid by insurance proceeds or covered by warranty and (k) any expense which under generally accepted accounting principals, should be capitalized, except as specifically permittedindependent contractor.

Appears in 1 contract

Samples: Lease (Meganet Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.