Common use of Definition of Operating Costs Clause in Contracts

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; deductibles under Landlord's insurance policies; wages and payroll, including bonuses, (all of which, for existing employees, will not increase by more than ten percent (10%) per annum, cumulative, and, for employees subsequently hired, will not increase by more than ten percent (10%) per annum, cumulative, over their initial wages and payroll, including bonuses); fringe benefits, workers compensation and payroll taxes; professional and consulting fees; management fees at prevailing rates or, if no managing agent is retained, an amount in lieu thereof not in excess of prevailing rates; complying with any Laws and insurance requirements; "environmental audits" deemed necessary by Landlord (but no more than once per year); and the Common Area (including the parking area). Operating --------- Costs do not include: Taxes; depreciation of the Project structures and -------------------- improvements; Landlord's loan or ground lease payments; brokerage commissions; marketing costs; legal fees and costs to enforce any leases; and costs to construct new leasable area in the Project. If Landlord in the future leases space to other tenants on a gross rather than net basis, Operating Costs will not thereby be increased over what they would have been if Landlord had leased on a net basis.

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 tenantsTenant or other tenants or licensees of the Project; materials, supplies and equipment; deductibles under Landlord's insurance policies; wages and payroll, including bonuses, bonuses (all of which, for existing employees, will not increase by more than ten percent (10%) per annum, cumulative, and, for employees subsequently hired, will not increase by more than ten percent (10%) per annum, cumulative, over their initial wages and payroll, including bonuses); fringe benefits, workers compensation and payroll taxes; professional and consulting fees; management fees at prevailing rates equal to three percent (3%) of all scheduled rent (including, without limitation, base rent, Taxes, Operating Costs, insurance costs and additional rent payable by Tenant and any other tenants and licensees of the Project and without giving effect to any abatements or reductions) or, if no managing agent is retained, an amount in lieu thereof not in excess of prevailing ratesthe foregoing rates (such management fees or fees in lieu thereof collectively are called "Management Fees"); complying with any Laws and insurance requirements; "environmental audits" deemed necessary by Landlord (but no more than once per year); cafeteria charges; snowplowing, landscaping and roadway maintenance, and costs payable in connection with all common areas and any easements or covenants, conditions and restrictions or similar agreements that benefit or burden the Common Area (including the parking area)Premises. Operating --------- Costs do not include: TaxesTaxes or the exclusions therefrom; depreciation of the Project Building structures and -------------------- improvements; Landlord's loan fees, points, debt service or ground lease payments, or costs incurred in negotiating of any of the underlying documents in connection therewith; costs (if any) for the construction, signalization, widening or improvement of public roads or bridges or traffic mitigation (except for transportation management programs or compliance therewith, which will be equitably allocated to the property or properties affected) that have been committed to by Landlord in connection with the existing MEPA Certificate of Compliance and the Special Permit obtained for the Premises; expenses for repairs or maintenance to the extent reimbursed by warranties, guarantees, service contracts or insurance proceeds (net of costs of enforcement and/or collection); costs involved in defending Landlord's title to or interest in the Project; costs to influence prospective legislation; costs otherwise directly paid or specifically reimbursed by Tenant or any other tenants or licensees in the Project (other than by an allocation of Operating Costs), such as separately metered electricity payable directly by Tenant to the utility company; brokerage commissions; marketing costs; legal fees and costs to enforce any leases; and costs to construct new leasable area or parking areas in the ProjectPremises that are not for use by Tenant. If The following costs are also not included in Operating Costs: the replacement of the Building's major structural members (as opposed to the cost of the repair and maintenance thereof, of which repair and maintenance costs will not be amortized and will be fully included as part of Operating Costs when incurred); and the cost of replacing the Building's roof (as opposed to the cost of the repair and maintenance thereof, which maintenance and repair costs will not be amortized and will be fully included as part of Operating Costs when incurred). However, in either case, if such replacement is required due to Tenant's failure to properly repair or maintain or the negligent or intentional acts or omissions of Tenant or its Affiliates, Tenant will pay all costs in connection therewith as and when incurred, less the net amount of any insurance proceeds collectible on account thereof. All Operating Costs (with the exception of Management Fees and cafeteria charges) will be subject to the further requirement that they are deemed reasonable and necessary by Landlord in the future leases space to other tenants on a gross rather than net basis, Operating Costs will not thereby be increased over what they would have been if Landlord had leased on a net basisexercise of its reasonable judgement.

Definition of Operating Costs. Operating Costs" are all costs and ----------------------------- expenses incurred in connection with the Project Premises 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 tenantsTenant; materials, supplies and equipment; deductibles under Landlord's insurance policies; wages and payroll, including bonuses, (all of which, for existing employees, will not increase by more than ten percent (10%) per annum, cumulative, and, for employees subsequently hired, will not increase by more than ten percent (10%) per annum, cumulative, over their initial wages and payroll, including bonuses); fringe benefits, workers compensation and payroll taxes; professional and consulting fees; management fees at prevailing rates equal to three percent (3%) of all scheduled rent (including, without limitation, base rent, Taxes, Operating Costs, insurance costs and additional rent payable by Tenant and without giving effect to any abatements or reductions) or, if no managing agent is retained, an amount in lieu thereof not in excess of prevailing the foregoing rates; complying with any Laws and insurance requirements; "environmental audits" deemed necessary by Landlord (but no more than once per year); , snowplowing, landscaping and roadway maintenance, and costs payable in connection with any easements or covenants, conditions and restrictions or similar agreements that benefit or burden the Common Area (including the parking area)Premises. Operating --------- Costs do not ---------------------- include: TaxesTaxes or the exclusions therefrom; depreciation ------- of the Project Premises structures and -------------------- improvements; Landlord's loan fees, points, debt service or ground lease payments, or costs incurred in negotiating of any of the underlying documents in connection therewith; the cost of Landlord's Work; costs (if any) for the construction, signalization, widening or improvement of public roads or bridges or traffic mitigation (except for transportation management programs or compliance therewith, which will be equitably allocated to the property or properties affected) that have been committed to by Landlord in connection with the existing MEPA Certificate of Compliance and the Special Permit obtained for the Premises; expenses for repairs or maintenance to the extent reimbursed by warranties, guarantees, service contracts or insurance proceeds (net of costs of enforcement and/or collection); costs involved in defending Landlord's title to or interest in the Project; costs to influence prospective legislation; costs otherwise directly paid or specifically reimbursed by Tenant (other than by an allocation of Operating Costs), such as separately metered electricity payable directly by Tenant to the utility company; brokerage commissions; marketing costs; legal fees and costs to enforce any leases; and costs to construct new leasable area or parking areas in the ProjectPremises that are not for use by Tenant. If Landlord The following costs will be included in Operating Costs, but amortized over the future leases space useful life of the applicable item or twelve (12) years, whichever is less, assuming straight-line amortization and an interest rate of ten percent (10%) per annum: the replacement of the Building's major structural members (as opposed to other tenants on a gross rather than net basisthe cost of the repair and maintenance thereof, which will not be --- amortized and will be fully included as part of Operating Costs when incurred); and the cost of replacing the Building's roof (as opposed to the cost of the repair and maintenance thereof, which will not thereby be increased over what they would have been amortized will be fully --- included as part of Operating Costs when incurred). However, in either case, if Landlord had leased such replacement is required due to Tenant's failure to properly repair or maintain or the negligent or intentional acts or omissions of Tenant or its Affiliates, Tenant will pay all costs in connection therewith as and when incurred, less the net amount of any insurance proceeds collectible on a net basisaccount thereof.

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; deductibles under Landlord's insurance policiespremiums and costs; wages and payroll, including bonuses, (all of which, for existing employees, will not increase by more than ten percent (10%) per annum, cumulative, and, for employees subsequently hired, will not increase by more than ten percent (10%) per annum, cumulative, over their initial wages and payroll, including bonuses); fringe benefits, workers compensation and payroll taxes; professional and consulting fees; management fees at then-prevailing rates or the current rates now charged for the Project, whichever is greater, or, if no managing agent is retained, an amount in lieu thereof not in excess of prevailing rates or those current rates, whichever is greater; cafeteria charges; and complying with any Laws and insurance requirements; "environmental audits" deemed necessary by Landlord (but no more than once per year); and the Common Area (including the parking area). Operating --------- Costs do not include: TaxesTaxes or the exclusions therefrom; depreciation of the Project structures and -------------------- improvements; Landlord's ’s loan fees, points, debt service or ground lease payments, or costs incurred in negotiating any of the underlying documents in connection therewith; brokerage commissions; marketing coststhe cost of Landlord’s Work, tenant allowances or workletter costs or any other costs incurred with respect to the installation of tenant improvements or in otherwise improving, 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); legal fees costs of negotiating or enforcing leases; free rent, rent abatements or similar inducements offered by Landlord to obtain tenants; expenses for repairs or maintenance to the extent reimbursed by warranties, guaranties, service contracts or insurance proceeds; costs for the replacement (as opposed to maintenance and repair) of basic structural components of the Project; costs involved in defending Landlord’s title to the Project; costs to enforce any leasesinfluence prospective legislation; and costs to construct new leasable area directly paid or specifically reimbursed by tenants in the Project. If Landlord in Project (other than by an allocation of Operating Costs), such as separately metered electricity payable directly by a tenant to the future leases space to other tenants on a gross rather than net basis, Operating Costs will not thereby be increased over what they would have been if Landlord had leased on a net basisutility company.