Definition of Operating Costs. The term "Operating Costs" shall mean all costs and expenses paid or incurred by Landlord or on Landlord's behalf in connection with the ownership, management, repair, replacement, remodeling, maintenance and operation of the Development (including, without limitation, all assessed real property taxes, assessments (whether general or special) and governmental charges of any kind and nature whatsoever including assessments due to deed restrictions and/or owner's associations, which accrue against the building and/or development of which the premises are a part, the costs of maintaining and repairing parking lots, parking structures, easements, and landscaping, property management fees, utility costs to the extent not separately metered, insurance premiums, depreciation of the costs of replacement (as defined below) of the building and improvements in the Development but not including any structural repairs or replacements which are normally chargeable to capital accounts under sound accounting principles, and the Building's share of costs of the Development). The term "operating costs" does not include; (i) costs of alterations of tenants' premises; (ii) costs of curing construction defects; (iii) interest and principal payments on mortgages, and other debt cost; (iv) real estate brokers' leasing commissions or compensation; (v) any cost or expenditure for which Landlord is reimbursed, whether by insurance proceeds or otherwise; (vi) cost of any service furnished to any other occupant of the Building which Landlord does not provide to tenant hereunder. Structural repairs and replacements are repairs and replacements to the foundations, load-bearing walls, columns and joists and replacement of roofing and roof deck. Notwithstanding anything contained herein to the contrary, depreciation of any capital improvements which are intended to reduce Operating Costs, or are required under any governmental laws, regulations or ordinances which were not applicable to the Building or the Development at the time it was constructed, or are recommended by the N.F.P.A. Life Safety Code, shall be included in Operating Costs. The useful life of any such improvement as well as all non-structural replacements shall be reasonably determined by Landlord. In addition, interest on the undepreciated cost of any such improvement or non-structural replacement (at the prevailing construction loan rate available to Landlord on the date the cost of such improvement was incurred) shall a...
Definition of Operating Costs. “Operating Costs” means, for each calendar year (or portion thereof) during the Use Period, the aggregate of all costs, expenses, and liabilities of every kind or nature paid or incurred by Tenant in connection with the use/ownership, operation and maintenance of the “Project” (being the Property, all underlying land, together with driveways, parking facilities, warehouse and loading dock areas, roadways and any other similar improvements and easements associated with the foregoing or operation thereof as well as all Shared Assets and the warehouse management system (“WMS”) components used in the overall operation of the warehouse, but excluding those components of the WMS system used exclusively for Tenant’s operations). Operating Costs include, but are not limited to, the following costs determined in accordance with generally accepted accounting principles consistently applied: (A) all rent due under the Lease (including all amounts of base rent and additional pass through charges from Landlord regardless of whether such amounts are designated as rental payments, operating costs or financial liabilities of Tenant under the Lease) plus property management and/or administrative fees and expenses that are related to management of the Project; (B) all supplies and materials used in the operation, maintenance, repair, replacement, and security of the Project; (C) cost of all association fees, landscaping, janitorial services, waste disposal, and utilities (including fuel, gas, electricity, water, sewer, and other services) for the Property, unless the same are separately metered and billed by such service provider directly to User or 3PL as reasonably determined by Tenant or charged by Landlord; (D) repairs, replacements, and general maintenance of the Project including but not limited to paving and parking areas, roads, roof repairs, alleys and driveways, trash collection, sweeping and removal of trash for the common areas, mowing and snow removal, landscaping and exterior painting, the cost of maintaining utility lines, fire sprinklers and fire protection systems, exterior lighting, Shared Assets and mechanical and plumbing systems serving the Project; (E) service, maintenance and management contracts for the operation, maintenance, management, repair, replacement, and security of the Project (including but not limited to alarm service, window cleaning, and service of the Shared Assets); (F) costs of professional services rendered for the general benefit o...
Definition of Operating Costs. “Operating Costs” shall mean all costs incurred and expenditures of whatever nature made by Landlord in the operation and management, for repair and replacements, cleaning and maintenance of the Building including, without limitation, vehicular and pedestrian passageways related to the Building, related equipment, facilities and appurtenances, elevators, and cooling and heating equipment. In the event that Landlord or Landlord’s managers or agents perform services for the benefit of the Building off-site which would otherwise be performed on-site (e.g., accounting), the cost of such services shall be reasonably allocated among the properties benefiting from such service and shall be included in Operating Costs. Operating Costs shall include, without limitation, those categories of “Specifically Included Categories of Operating Costs”, as set forth below, but shall not include “Excluded Costs,” as hereinafter defined. If Landlord incurs Operating Costs for the Building together with one or more other buildings or properties, the shared costs and expenses shall be equitably prorated and apportioned between the Building and the other buildings or properties. Wherever the term “Building” is used in determining Operating Costs, it shall mean Operating Costs specific to the actual Building, or the equitably prorated and apportioned portion of those costs which apply to the Building together with other buildings or properties.
Definition of Operating Costs. The term “Operating Costs” as used herein shall mean all expenses, costs and disbursements of every kind and nature arising from or related to the ownership, operation and maintenance of the Leased Premises. For avoidance of doubt, where an Operating Cost is incurred for the entire Real Property, Tenant’s share of Operating Costs shall be the pro rata portion of such Operating Cost, by square footage. Operating Costs, include but are not limited to, the following:
Definition of Operating Costs. The term “Operating Costs” means any costs associated with the operation, management, maintenance, repair, replacement, and protection of the Building including, without limitation, costs of heating; cooling; utilities (including any taxes or impositions thereon); insurance; parking lot maintenance, repair, repaving, resurfacing and re-stripping; re-roofing; janitorial and cleaning service; lobby host, if any is provided by Landlord; security services, if any are provided by Landlord; salaries, wages, and other personnel costs of engineers, superintendents, watchmen, and other Building employees, and other employees of Landlord and the employees of Landlord’s agents and contractors allocable to Building or Project-related matters (provided, however, that to the extent that employees of Landlord or employees of Landlord’s agents are not assigned exclusively to the Building or the Project, then Operating Costs will include only the portion of their salaries, wages, and other personnel costs that Landlord allocates to the Building or the Project); charges under all Building and Project maintenance and service contracts, including contracts for chilled water and hot water, boilers, controls, elevators, security systems, exterior window cleaning, landscaping (including new plantings and irrigation), common areas, public areas, lobbies, and Building, Project and Land maintenance; costs of all maintenance and repair, including costs of all warranties included in contracts for the provision of materials or services to the Building to the extent the cost of such warranty is separately stated in such contract; costs of enforcing warranties; costs of supplies that are deducted (and not capitalized) for federal income tax purposes; management fees that are not in excess of the prevailing market rate management fees paid to management organizations managing Comparable Buildings; accounting costs and fees; costs incurred for attorneys or other third parties to appeal or contest Real Estate Tax assessments (as more fully provided in this Section 4), including the costs incurred to review the feasibility thereof; costs of cleaning, decorating, repairing, maintaining, replacing and operating any common areas in the Project; all other costs Landlord incurs to operate, service, maintain, repair and replace the Building, Land and Project; the cost of any capital improvements made by Landlord to the Building and/or Project, or capital assets acquired by Landlord after the Leas...
Definition of Operating Costs. “Operating Costs” are all costs and expenses incurred in connection with the Project and its ownership, operation, management, maintenance, repair, replacement and improvement, including, without limitation, costs for: services, costs and utilities not otherwise directly paid or reimbursed by tenants; materials, supplies and equipment to the extent used for the Project; insurance deductibles, premiums and costs; wages and payroll, including bonuses, fringe benefits, workers compensation and payroll taxes; professional and consulting fees; management fees equal to 3.5% of the annual gross revenues generated by the Project (including for example all rent and proceeds paid by tenants in the project and security deposits applied by Landlord, but excluding interest and insurance proceeds, except insurance proceeds that are meant to compensate for rent, such as proceeds from rental loss insurance), or if no managing agent is retained, an amount in lieu thereof not in excess of such amount; complying with any Laws and insurance requirements; an annual audit of Landlord’s books and records relating to the Project and the preparation of Landlord’s annual financial statements (but not its tax returns); Cafeteria Charges (which will be abated for the first Lease Year); and snowplowing and landscaping.
Definition of Operating Costs. The term “Operating Costs” shall mean all costs and disbursements that Landlord incurs in connection with the ownership, operation, maintenance, repair and replacement of the Project determined in accordance with sound accounting principles consistently applied, including premiums for property, liability and other coverages carried by Landlord, including deductibles and risk retention programs and an allocation of a portion of the cost of blanket insurance policies maintained by Landlord and/or its Affiliates; property management fees and expenses; service and maintenance contracts; salaries, wages, benefits and other payroll expenses of employees engaged in the operation, maintenance or repair of the Project; rent and expenses for Landlord’s and any property manager’s offices in the Project not to exceed the fair market rent for such spaces, with such spaces not to exceed the size of property managers’ office spaces for comparable projects; Real Property Taxes (as defined in Section 4(e) below); repair and maintenance costs; telecom expenses; license fees; the Building’s Systems maintenance, repair and replacement costs; utilities; repair and replacement, resurfacing or repaving of paved areas, sidewalks, curbs and gutters, life safety; security (if and to the extent Landlord elects to provide same); janitorial services and cleaning supplies; window cleaning and elevator maintenance and uniforms for personnel providing services; trash collection; pest control charges; materials, supplies; administrative costs; business license taxes and fees; tools and rental equipment; administrative costs; costs associated with operating a shuttle (if applicable and available to Tenant), cost of all utilities not directly metered to individual tenants (including water, sewer, electrical, gas, trash/recycling/compost) and the cost of janitorial services for the Common Areas and tenant premises and supplies used in connection therewith (including night service, day xxxxxx(s), cleaning/restroom supplies and interior window cleaning), and the costs for capital improvements (as determined pursuant to generally accepted accounting principles (“GAAP”), consistently applied) made to the Project (i) to comply with applicable Laws hereafter promulgated by any governmental authority or any interpretation hereafter rendered with respect to any existing Laws, (ii) to reduce operating expenses, or (iii) to improve the health, safety and welfare of the Project and its tenants, in each...
Definition of Operating Costs. “Operating Costs” shall mean all costs incurred by Landlord in the operation and management, for repair and replacements, cleaning and maintenance of the Building including, without limitation, vehicular and pedestrian passageways related to the Building, related equipment, facilities and appurtenances, elevators, cooling and heating equipment. In the event that Landlord or Landlord’s managers or agents perform services for the benefit of the Building off-site which would otherwise be performed on-site (e.g., accounting), the cost of such services shall be reasonably allocated among the properties benefiting from such service and shall be included in Operating Costs. Operating Costs shall include, without limitation, those categories of “Specifically Included Categories of Operating Costs”, as set forth below, but shall not include “Excluded Costs,” as hereinafter defined. If Landlord incurs Operating Costs for the Building together with one or more other buildings or properties, the shared costs and expenses shall be equitably prorated and apportioned between the Building and the other buildings or properties. Wherever the term “Building” is used in determining Operating Costs, it shall mean Operating Costs specific to the actual Building, or the equitably prorated and apportioned portion of those costs which apply to the Building together with other buildings or properties.
Definition of Operating Costs. Subject to the exclusions below, “Operating Costs” (also referred to as “Operating Expenses”) are all costs and expenses actually incurred in connection with the Project and its ownership, operation, management, maintenance, repair, replacement and improvement, including, without limitation, costs for: cleaning, maintenance and repair of the Common Area; snowplowing, security, and landscaping; services, costs and utilities not otherwise directly paid or reimbursed by tenants; materials, supplies and equipment; insurance deductibles, cost of monitoring environmental conditions (as opposed to remediation which is excluded below) premiums and costs; wages and payroll , including bonuses, fringe benefits, workers compensation and payroll taxes; professional and consulting fees; management fees at then-prevailing market rates for similar properties or the current rate structure now charged for the Project, whichever is greater, and complying with any Laws and insurance requirements. Operating Coats do not include: Taxes or the exclusions therefrom; depreciation of the Project structures and improvements; Landlord’s loan fees, points, debt service, other financing charges or ground lease payments, or costs incurred in negotiating or enforcing any of the underlying documents in connection with any of Landlord’s loans or ground leases; cost of any remediation of environmental conditions, except those caused by the Tenant or those the Tenant is responsible for, costs to sell, assign, syndicate, mortgage, hypothecate or convey Landlord’s interest in the Project or in the entity constituting Landlord; brokerage commissions or “finders fees” for the sale, lease, mortgaging or hypothecation of all or any part of the Project; bad debt losses or reserves therefore; the cost of tenant allowances or work letter costs or any other costs to install tenant improvements or in designing, engineering, drawing, permitting, entitling, improving, renovating, decorating, painting or redecorating vacant space held for lease to tenants (but such exclusion will apply only with respect to the costs directly allocable to the space to be leased to such tenants); costs of negotiating or enforcing leases, subleases, licenses or occupancy agreements, or deal memos, letters of intent, assignments, subleases, sublicenses or Transfers thereof, including, without limitation, legal fees, arbitration fees and associated costs; free rent, partial or total rent abatements or similar inducements offe...
Definition of Operating Costs. “Operating Costs” shall mean the sum of any and all costs, expenses and disbursements of any kind paid or incurred by Landlord in connection with the management, operation, security, maintenance, and repair of the Project, calculated in accordance with the audited financial statements of Landlord, including, but not be limited to, salaries, wages, benefits and related costs for employees; management fees, either as charged to Landlord by outside management companies or not exceeding the amount typically charged by outside management companies if Landlord or Landlord’s affiliate manages the Project; charges for utilities and services provided to all tenants in accordance with Article 13.1 herein, including but not limited to janitorial services, window cleaning, elevator services, HVAC services, security services (including any taxes thereon); the cost of insurance as specified in Article 12.6 herein; outside accounting fees; office supplies; building cleaning supplies and materials; garbage and waste collection; and a reasonable allowance for depreciation (or amortization) with respect to machinery and equipment and other capital expenditures and improvements; provided, however, that the only depreciation (or amortization and expenditures) includable in Operating Costs shall be a reasonable allowance for depreciation (or amortization) over the useful life of the improvements, as determined by Landlord’s accountants to conform with applicable tax laws. See Paragraph 49
