Common use of Definition of Operating Expenses Clause in Contracts

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and the other portions of the Project. These Operating Expenses may include, but are not limited to, Landlord's cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas; (iii) annual insurance premium(s) insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the Project, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of loss, and subject to the provisions of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Date; and (c) new improvements to the Project that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorter, as reasonably determined by Landlord, together with reasonable interest on the amortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the Building, if and to the extent, in Landlord's sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's use of the Premises or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below.

Appears in 2 contracts

Samples: Lease Agreement (Abaxis Inc), Lease Agreement (Abaxis Inc)

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Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises Premises, the Buildings, the Amenities, and the other portions of the ProjectProperty, as determined in accordance with generally accepted accounting principles consistently applied. These Operating Expenses may include, but are not limited to, Landlord's ’s cost of: (i) replacement of, repairs to, and maintenance of, all wall and floor coverings, ceiling tiles and fixtures in the Common Area (as defined below), the Premises, the roof membrane, the structural and non-structural portions of the roof and the non-structural elements of the perimeter and exterior walls of the Building, sidewalks and curbs, exterior windows, foundation and basement areas and any landscaping on the Property; (ii) maintaining the outside paved area, landscaping and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas; (iii) annual reasonable insurance premium(s) premiums insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "elects “special purpose" causes of loss” form coverage) and all other reasonable and customary insurance, including, but not limited to, earthquake and flood for the ProjectProperty, rental value insurance against loss of Rent for a period of at least nine eighteen (918) months commencing on the date of loss, terrorism insurance, and subject to any applicable deductible; (iii) the provisions costs of Section 25 belowoperating, any commercially reasonable deductiblerepairing, maintaining, renovating, and supplying the utilities, including without limitation, telephone, electricity, gas, sanitation, storm drainage, and elevator systems; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned Property to the extent required by any rulesand all statutes, laws ordinances and requirements of all local, municipal, state and federal authorities now in force, or regulations which may hereafter be in force, including, but not limited to, the Americans With Disabilities Act (the “Laws”) effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project Property after the Commencement Delivery Date; and (c) new improvements to the Project Property that reduce operating costs or improve life/safety conditionsconditions (but only if actual reductions are reasonably expected to be achieved), all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, discretion (provided that if such costs are of a capital nature, then such costs or allocable portions thereof shall will be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorter, as reasonably determined by Landlorditem, together with reasonable interest at a rate of the Wall Street Journal Prime Rate plus two percent (2%) per annum on the amortized balance); (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts contracts, including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (viivi) security and fire protection services for any portion of the BuildingProperty, if and to the extent, in Landlord's ’s sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ixvii) supplies, materials, equipment, rental equipment and other similar items used exclusively in connection with the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipmentProperty including janitorial service; (xviii) any and all levies, charges, fees and/or assessments payable imposed on Landlord by any federal, state or local governmental agency or body or to any applicable owner's ’s association or similar body; (xiix) except for ADA Work (defined below) performed as part subject to the terms of the Tenant Improvements pursuant to Exhibit B hereto Lease, fees and charged against other costs, including management fees, consulting fees, legal fees and accounting fees, and the Tenant Improvement Allowancefees of all contractors and consultants in connection with the management, any barrier removal work or other required improvementsoperation, alterations or work to any portion maintenance and repair of the Project generally required under Property and the ADA Amenities (defined belowincluding the fair rental value of the gross square footage dedicated to the Shared Amenities, if any) (the "ADA Work"“Management Fee”); provided, or if such ADA Work no property manager or management company is required under the ADA due to Tenant's use employed by Landlord, a sum in lieu thereof that is not in excess of the Premises or then-prevailing rate for management fees paid to managing agents of other Comparable Buildings; (x) payments under any Alteration equipment lease agreements for equipment used exclusively in connection with the Premises; (defined belowxi) made to the Premises by or on behalf of Tenantwages, then the cost of such ADA Work shall be borne solely by Tenant salaries and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below.other compensation

Appears in 1 contract

Samples: Neurocrine Biosciences Inc

Definition of Operating Expenses. Tenant The term "Operating Expenses" -------------------------------- shall pay mean (i) all of Landlord's direct costs and expenses of operation, repair and maintenance of the Premises, as determined by Landlord in accordance with generally accepted accounting principles or other recognized accounting principles, consistently applied; (ii) a reasonably amortized portion of the costs of any capital improvements made to the Premises by Landlord Tenant's Share which comprise labor-saving devices or other equipment intended to improve the operating efficiency of all any system within the Premises (such as an energy management computer system) to the extent of cost savings in Operating Expenses as Additional Renta result of the device or equipment, as reasonably determined by Landlord; and (iii) costs allocable to the Premises of any capital improvements made to the Premises by Landlord that are required under any governmental law or regulation that was not applicable to the Premises at the time they were constructed, and/or that are reasonably required for the health and safety of tenants in the Premises, and/or are installed to repair or replace property located in the Premises as of the Commencement Date, the costs to be amortized over such reasonable period as Landlord shall reasonably determine together with interest on the unamortized balance at the Interest Rate or such higher rate as may have been paid by Landlord on funds borrowed for the purpose of constructing the capital improvements. The term "Operating Expenses" as used herein shall mean include the total amounts paid cost of all insurance which Landlord or payable Landlord's lender reasonably deems necessary for the Premises; a reasonable management fee; dues imposed by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises any property owner's association ("Association"); and the other portions of the ProjectReal Property Taxes (as defined in subsection 5(f)). These Operating Expenses may include, but are not limited to, Landlord's cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas; (iii) annual insurance premium(s) insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the Project, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of loss, and subject to the provisions of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Date; and (c) new improvements to the Project that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorter, as reasonably determined by Landlord, together with reasonable interest on the amortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if If Landlord elects to so procure; (vii) security and fire protection services for any self-insure or includes the Premises under blanket insurance policies covering multiple properties, then the term "Operating Expenses" shall include the portion of the Building, if and to the extent, in Landlord's sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's use of the Premises or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely self- insurance or blanket insurance allocated by Tenant and Landlord to this Premises. The definition of Operating Expenses shall not be included as part deemed to impose any obligations on Landlord to perform any obligations under this Lease. Landlord's sole obligations regarding maintenance, repair or otherwise related to the condition of the Operating Expenses; and (xii) the repairs and maintenance items set forth Premises are specified in Section 11.2 below7 and subsection 10(b) of the Lease.

Appears in 1 contract

Samples: Ibeam Broadcasting Corp

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's its Pro Rata Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts paid or payable incurred by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and the other portions of Common Areas except for the Projectexclusions set forth in Section 8.2.3 below. These Operating Expenses may include, but are not limited to, costs incurred by Landlord with respect to the following: Landlord's cost of: (i) repairs tocosts of operating, and maintenance ofmaintaining, repairing or replacing the roof membrane, the non-structural portions of the roof Facilities and the non-structural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited toincluding, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs without limitation (if any), and landscaped areas; (iiia) annual insurance premium(s) insuring against personal injury for liability insurance with respect to the Common Areas and property damage (includingb) supplies, if Landlord electsmaterials, "all risk" or "special purpose" coverageequipment, rental equipment and other similar items; and Landlord's premiums for (i) and all other pollution coverage insurance, including, but not limited to, earthquake and flood for the Project, ; (ii) rental value insurance against loss of Rent for a period of at least nine not less than twelve (912) months commencing on the date of loss, and subject ; (iii) all other insurance obtained by Landlord that is not duplicative of insurance that Tenant is required to carry pursuant to Section 14.1.2; Insurance deductible amounts under any policy of insurance to the provisions extent relating to the Common Areas and/or Facilities located thereon; Landlord's costs of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations Laws effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Date; and (c) new improvements to the Project that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over Fees for business licenses required in connection with the estimated useful life ownership and operation of the capital item or fifteen (15) years whichever is shorter, as reasonably determined Project by Landlord and/or Landlord, together with reasonable interest on the amortized balance's property manager; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, in lieu of all other costs of accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to incurred in connection with the ownership, operation and management of the ProjectProject in the amount of three percent (3%) of the Base Rent; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the BuildingProject, if and to the extent, in Landlord's sole discretion, such services are providedprovided by Landlord and are not duplicative of those provided by Tenant; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's association or similar body; (xi) except for ADA Work (defined below) performed as part body or in connection with the utilization of parking and/or driveways through the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's use of the Premises or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating ExpensesAdjacent Park; and the costs of removing or otherwise remediating Hazardous Materials brought on or about the Common Areas by a Midnight Dumper (xii) the repairs and maintenance items set forth as defined in Section 11.2 below29.2.4), which are not covered by pollution insurance carried by the Landlord.

Appears in 1 contract

Samples: Lease Agreement (Cell Genesys Inc)

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts costs and expenses paid or payable incurred by Landlord in connection with the ownership, managementoperation, maintenancemaintenance and repair of the Property which in accordance with reasonable accounting and management practices consistently applied, repair including , without limitation (1) Taxes; (2) Insurance Premiums (3) the cost of utilities consumed on the Property if paid for by Landlord; (4) the cost of any governmentally required license, permit, or inspection for or of the Property; (5) personal property taxes on any personal property owned by Landlord and located on the Property and used for the maintenance or operation of the Premises Property; (6) and any other costs and expenses of Property; (7) reasonable property management fees not exceeding three percent (3%) of total rental charges and (8) any other expense designated by this Lease to be an Operating Expense. In the other portions event of the Projectfailure of a compressor or other major element of the heating and air conditioning system of the Property (which element is not a consumable or designed and intended to be replaced periodically) requiring replacement rather than maintenance, only fifty percent(50%) of the expense of such replacement shall be included within the meaning of Operating Expenses. These Operating Expenses may include, but are shall be "net" only and for that purpose shall be deemed reduced by the amounts of any insurance reimbursement or other reimbursement received by Landlord in connection with such expenses. The following shall not limited to, Landlord's cost of: be Operating Expenses (i1) repairs to, and maintenance of, or other W??????? occasioned by insured casualty except for the roof membrane, the non-structural portions deductible portion of the roof and the non-structural elements of the perimeter exterior walls of the Buildingany insured casualty loss; "(2) leasing commissions; (ii3) maintaining the outside paved area, landscaping depreciation and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areasamortization; (iii4) annual insurance premium(s) insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the Project, rental value insurance against loss costs of Rent for a period of at least nine (9) months commencing on the date of loss, and subject to the provisions of Section 25 below, any commercially reasonable deductiblecapital improvement nature; (iv5) interest on debt or principal payments to a Lender or rental under a ground lease (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Dateother than leasehold excise tax); and (c6) new improvements to the Project that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorter, as reasonably determined by Landlord, together with reasonable interest on the amortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the Building, if and to the extent, in Landlord's sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's use of the Premises or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 belowgeneral overhead.

Appears in 1 contract

Samples: Lease Agreement (Emagin Corp)

Definition of Operating Expenses. Tenant shall pay to Landlord TenantXxxxxx's Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts paid or payable by Landlord in connection with the ownership, management, security, maintenance, repair and operation of the Premises and the other portions of the Project. These Operating Expenses may include, but are not limited to, Landlord's cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved areaareas, landscaping and other common areas of the ParkProject. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas; (iii) annual insurance premium(s) insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, boiler and machinery, worker’s compensation, earthquake and flood for the Project, rental value insurance against loss of Rent for a period of at least nine twelve (912) months commencing on the date of loss, and subject to the provisions of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Date; and (c) new improvements to the Project that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorter, as reasonably determined by Landlord, together with reasonable interest on the amortized balanceunamortized balance at the rate of ten percent per annum or such higher rate as may have been paid by Landlord on funds borrowed for the purpose of constructing or installing such capital improvements; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the BuildingProject, if and to the extent, in Landlord's sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's specific manner of use of the Premises (or change in use) or any Alteration (defined below) made to the Premises by or on behalf of TenantTenant or any application by Tenant for any approval or permit from any governmental or quasi-governmental agency, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; (xii) refuse pickup and janitorial services and utilities supplied to the Premises, Building, Common Area and Project (to the extent the same are not separately charged or metered to tenants of the Building or Project), including, without limitation, any temporary or permanent utility surcharge or other exaction, whether now or hereafter imposed; and (xiixiii) the repairs and maintenance items set forth in Section 11.2 below, provided however, that in no event shall Operating Expenses include, and in no event shall the Tenant be obligated to reimburse the Landlord for the costs of repairs included in Section 11.3. The specific examples of Operating Expenses stated in this Section 6.1.1 are in no way intended to, and shall not limit the costs comprising Operating Expenses, nor shall such examples be deemed to obligate Landlord to incur such costs or to provide such services or to take such actions except as Landlord may be expressly required in other portion of this Lease or except as Landlord, in its sole discretion, may elect.

Appears in 1 contract

Samples: Lease Agreement (SolarJuice Co., Ltd.)

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's ’s Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean ” means the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and Project, except as expressly excluded from the definition of Operating Expenses. The term “Common Areas” means (a) all areas and facilities within the Park exclusive of the Premises and other portions of the ProjectPark leasable exclusively to other tenants and (b) the areas within the Building which are not leased exclusively to any tenant in the Building. These The Common Areas include, but are not limited to, interior lobbies, main electric room, telecommunications closets, mezzanines, parking areas, access and perimeter roads, sidewalks, and landscaped areas (and Tenant acknowledges and agrees that the size and shape of the Common Areas may be altered in the event the parcel or subdivision map referenced below in this Section 6.1.1 is recorded). Operating Expenses may include, but are not limited to, Landlord's ’s cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other common areas Common Areas of the Building and Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas; (iii) annual insurance premium(s) insuring against personal injury for any and property damage (includingall insurance Landlord elects to obtain, if Landlord electsincluding without limitation, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the Project, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of lossinsurance, and subject to the provisions of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement DateDate amortized as set forth below; and (c) new improvements to the Project that are intended to reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorterin accordance with real estate industry standards, as reasonably determined by LandlordLandlord (but in no event less than ten (10) years), together with reasonable interest on the amortized unamortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and ), heating, ventilation and air conditioning systems, systems and lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the BuildingProject, if and to the extent, in Landlord's ’s sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project, including, without limitation, the cost of the creation, management and operation of an owner’s association to manage and operate the Park at any time and from time to time (the “Association”); (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to the Association or any other applicable owner's ’s association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's ’s use of the Premises or any Alteration (defined below) (other [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. than the initial Tenant Improvements) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below. Landlord shall have the right, from time to time, to equitably allocate and prorate some or all of the Operating Expenses among different tenants and/or different buildings of the Project and/or on a building by building basis and Tenant acknowledges and agrees that Landlord shall have the right, in its sole and absolute discretion, to record a parcel or subdivision map with respect to the Park or a portion of the Park, the recordation of which may have the effect of increasing or decreasing Tenant’s Share of Operating Expenses. In either of such events, Tenant’s Share of Operating Expenses shall be commensurately revised to reflect any such increases or decreases that may result therefrom.

Appears in 1 contract

Samples: Lease Agreement (Endwave Corp)

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and the other portions of the Project. These Operating Expenses may include, but are not limited to, Landlord's cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural nonstructural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas; (iii) annual insurance premium(s) insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake (which premium for earthquake coverage only shall not exceed $0.05 per square foot per month compounded at a rate of three percent (3%) annually during the initial term of the Lease) and flood for the Project, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of loss, and subject to the provisions of Section 25 below, any commercially reasonable deductible (provided, however, that if any deductible that is Tenant's responsibility to pay per this Lease and will cost more than an amount equivalent to one month's Base Rent, then, at Tenant's option, Tenant shall pay to Landlord within thirty (30) days of receipt of an invoice therefor such amount equivalent to one month's Base Rent, and the balance of the cost of such deductible shall be amortized on a straight-line basis over the balance of the term of this Lease, and Tenant shall pay to Landlord monthly, in the same time and manner as the payment of Base Rent, the amortized portion of the cost of such deductible); (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Commencement Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Date; and (c) new improvements to the Project that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorter, as reasonably determined by Landlord, together with reasonable interest on the amortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management feefee (which shall not exceed three percent (3%) of Rent), accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the Buildingtire Project, if and to the extent, in Landlord's sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements Improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work") (subject to the amortization schedule designated in (iv) above); provided, if such ADA Work is required under the ADA due to Tenant's use of the Premises or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below, to the extent permitted by the terms of that Section.

Appears in 1 contract

Samples: Lease Agreement (New Focus Inc)

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Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and the other portions of the ProjectPremises. These Operating Expenses may include, but are not limited to, Landlord's ’s cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the BuildingPremises; (ii) maintaining the outside paved area, parking lot, landscaping and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areasAreas; (iii) annual insurance premium(s) insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the ProjectPremises, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of loss, and subject to the provisions of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project Premises occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project Premises after the Commencement Date; and (c) new improvements to the Project Premises that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretiondiscretion (with respect to improvements to life/safety conditions, such improvements shall be required by law or regulation or reasonably determined by Landlord to be likely required in the foreseeable future, or shall be of a type or nature then being installed by other similarly situated landlords in comparable buildings); provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorter, as reasonably determined by Landlord, together with reasonable interest on the amortized unamortized balance; (v) the management and administration of any and all portions of the ProjectPremises, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project Premises or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the ProjectPremises; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the BuildingPremises, if and to the extent, in Landlord's ’s sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the ProjectPremises; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project Premises and any reasonable reserves established for replacement or repair of any Common Area improvements or equipmentequipment with such reserves to be only for Operating Expenses to be incurred within the current Lease year and the next succeeding Lease year; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's ’s association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project Premises generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's ’s use of the Premises or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below.

Appears in 1 contract

Samples: Lease Agreement (Vnus Medical Technologies Inc)

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's ’s Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and the other portions of the Project. These Operating Expenses may include, but are not limited to, Landlord's cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other common areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas. The Operating Expenses may include, but are not limited to, Landlord’s cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter, exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other Common Areas of the Park; (iii) annual insurance premium(s) insuring against personal injury and property damage (including, if Landlord elects, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the Project, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of loss, and subject to the provisions of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Date; and (c) new improvements to the Project that reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, the improvements specified above in this Section 6.1.1(iv)(b) and (c) shall not be structural improvements except to the extent such improvements were made necessary by the act or omission of Tenant; provided, further if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorteritem, as reasonably determined by Landlord, together with reasonable interest (at an interest rate which is the lesser of twelve percent (12%) per annum or the maximum interest rate permitted by law) on the amortized unamortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; , (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and heating, ventilation and air conditioning systems, lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the BuildingProject, if and to the extent, in Landlord's ’s sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; , (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's ’s association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's ’s particular use of the Premises or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below. Landlord shall have the right from time to time, in its discretion, to include or exclude existing or future buildings in the Park in the calculation of the total rentable square feet of the Park for purposes of determining Operating Expenses and/or the provision of various services and amenities thereto, including, without limitation, allocation of Operating Expenses in Cost Pools. In such event, Tenant’s Share shall be commensurately revised to reflect any such increases or decreases in the rentable square footage of the Park. Landlord shall also have the right, from time to time, to equitably allocate and prorate some or all of the Operating Expenses among different tenants and/or different buildings of the Project and/or on a building-by-building basis (the “Cost Pools”). Such Cost Pools may include without limitation, reallocating among the office space, industrial space and retail space tenants of the buildings in the Project.

Appears in 1 contract

Samples: Lease Agreement (Alphasmart Inc)

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean means the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and Project. The term "Common Areas" means all areas and facilities within the Project exclusive of the Premises and other portions of the ProjectProject leasable exclusively to other tenants. These The Common Areas include, but are not limited to, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas. Operating Expenses may include, but are not limited to, Landlord's cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the Building1001 Ridder Building and the 0000 Xxx Xxxxxxxx; (ii) maintaining the outside paved area, landscaping and other common areas Common Areas of the Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areasProject; (iii) annual insurance premium(s) insuring against personal injury for any and property damage (includingall insurance Landlord reasonably elects to obtain based on industry standards for comparable buildings in the vicinity of the Project, if Landlord electsincluding without limitation, "all riskcauses of loss – special form" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the Project, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of lossinsurance, and subject to the provisions of Section 25 below, any commercially deductible (provided that any earthquake deductible shall be amortized on a straight-line basis over the estimated useful life of the repaired or replaced improvements, as reasonably determined by Landlord in accordance with GAAP, together with reasonable deductibleinterest on the unamortized balance); (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement Date; and (c) new improvements to the Project that are intended to reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen twenty (1520) years years, whichever is shorter, as reasonably determined by Landlord, together with reasonable interest on the amortized unamortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management feefee (Tenant’s Share of such property management fee shall not exceed three percent (3%) of Base Rent due under this Lease, provided that during the first (1st) twelve (12) months after the Commencement Date, Tenant’s share of such property management fee shall be based on the Base Rent shown on the Base Rent schedule set forth in the Basic Lease Information without the abatement of Base Rent during the Abatement Months), accounting, auditing, billing, postage, salaries and benefits for clerical employees (prorated to reflect time spent on operating and supervisory employees, whether located on managing the Project or off-siteas compared with time spent on matters unrelated to operating and managing the Project), payroll taxes and legal and accounting costs to the extent related to the Project and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and ), heating, ventilation and air conditioning systems, systems (if maintained by Landlord pursuant to Section 11.4 below) and lifts for disabled persons, if Landlord elects to so procure; (vii) reasonable security and fire protection services for any portion of the BuildingProject, if and to the extent, in Landlord's sole reasonable discretion, such services are providedprovided (provided that if Tenant provides security services for the Project and there is no reasonable basis to provide additional security services, Landlord agrees not to provide any such security services for the Project); (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project; (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to any applicable owner's association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's use of the Premises Premises, the Tenant Improvements or any Alteration (defined below) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below; and (xiii) payments under any easement, license, operating agreement, declaration, restrictive covenant, or instrument pertaining to the sharing of costs by the 1001 Ridder Building and the 1717 Fox Building at the Ridder Park Technology Center. Tenant acknowledges that the Project is part of the Ridder Park Technology Center and that there are certain Operating Expenses attributable to the development as a whole (and not attributable solely to any individual building therein) which shall be allocated by Landlord to the 1001 Ridder Building, the 1717 Fox Building and to the other buildings within such development on an equitable basis (for example, a shared day xxxxxx, security, certain parking expenses and insurance premiums). Landlord shall have the right, from time to time, to equitably allocate and prorate some or all of the Operating Expenses among different tenants and/or different buildings of the Ridder Park Technology Center and/or on a building by building basis (the "Cost Pools"). In such event, Tenant's Share shall be commensurately revised to reflect any such increases or decreases. If the 0000 Xxx Xxxxxxxx or Project is less than ninety-five percent (95%) occupied during all or a portion of a calendar year, the variable components of the Operating Expenses as determined by Landlord shall be calculated as if the 1717 Fox Building and Project had been 95% occupied for the full calendar year.

Appears in 1 contract

Samples: Lease Agreement (Spansion Inc.)

Definition of Operating Expenses. Tenant shall pay to Landlord Tenant's ’s Share of all Operating Expenses as Additional Rent. The term "Operating Expenses" as used herein shall mean ” means the total amounts paid or payable by Landlord in connection with the ownership, management, maintenance, repair and operation of the Premises and Project, except as expressly excluded from the definition of Operating Expenses. The term “Common Areas” means (a) all areas and facilities within the Park exclusive of the Premises and other portions of the ProjectPark leasable exclusively to other tenants and (b) the areas within the Building which are not leased exclusively to any tenant in the Building. These The Common Areas include, but are not limited to, interior lobbies, main electric room, telecommunications closets, mezzanines, parking areas, access and perimeter roads, sidewalks, and landscaped areas (and Tenant acknowledges and agrees that the size and shape of the Common Areas may be altered in the event the parcel or subdivision map referenced below in this Section 6.1.1 is recorded). Operating Expenses may include, but are not limited to, Landlord's ’s cost of: (i) repairs to, and maintenance of, the roof membrane, the non-structural portions of the roof and the non-structural elements of the perimeter exterior walls of the Building; (ii) maintaining the outside paved area, landscaping and other common areas Common Areas of the Building and Park. The term "Common Areas" shall mean all areas and facilities within the Park exclusive of the Premises and the other portions of the Park leasable exclusively to other tenants. The Common Areas include, but are not limited to, interior lobbies, mezzanines, parking areas, access and perimeter roads, sidewalks, rail spurs (if any), and landscaped areas; (iii) annual insurance premium(s) insuring against personal injury for any and property damage (includingall insurance Landlord elects to obtain, if Landlord electsincluding without limitation, "all risk" or "special purpose" coverage) and all other insurance, including, but not limited to, earthquake and flood for the Project, rental value insurance against loss of Rent for a period of at least nine (9) months commencing on the date of lossinsurance, and subject to the provisions of Section 25 below, any commercially reasonable deductible; (iv) (a) modifications and/or new improvements to any portion of the Project occasioned by any rules, laws or regulations effective subsequent to the Lease Date; (b) reasonably necessary replacement improvements to any portion of the Project after the Commencement DateDate amortized as set forth below; and (c) new improvements to the Project that are intended to reduce operating costs or improve life/safety conditions, all of the foregoing as reasonably determined by Landlord, in its sole but reasonable discretion; provided, if such costs are of a capital nature, then such costs or allocable portions thereof shall be amortized on a straight-line basis over the estimated useful life of the capital item or fifteen (15) years whichever is shorterin accordance with real estate industry standards, as reasonably determined by LandlordLandlord (but in no event less than ten (10) years), together with reasonable interest on the amortized unamortized balance; (v) the management and administration of any and all portions of the Project, including, without limitation, a commercially reasonable property management fee, accounting, auditing, billing, postage, salaries and benefits for clerical and supervisory employees, whether located on the Project or off-site, payroll taxes and legal and accounting costs and all fees, licenses and permits related to the ownership, operation and management of the Project; (vi) preventative maintenance and repair contracts including, but not limited to, contracts for elevator systems (if any) and ), heating, ventilation and air conditioning systems, systems and lifts for disabled persons, if Landlord elects to so procure; (vii) security and fire protection services for any portion of the BuildingProject, if and to the extent, in Landlord's ’s sole discretion, such services are provided; (viii) the creation and modification of any rail spur or track agreements, licenses, easements or other similar undertakings with respect to the Project, including, without limitation, the cost of the creation, management and operation of an owner’s association to manage and operate the Park at any time and from time to time (the “Association”); (ix) supplies, materials, equipment, rental equipment and other similar items used in the operation and/or maintenance of the Project and any reasonable reserves established for replacement or repair of any Common Area improvements or equipment; (x) any and all levies, charges, fees and/or assessments payable to the Association or any other applicable owner's ’s association or similar body; (xi) except for ADA Work (defined below) performed as part of the Tenant Improvements pursuant to Exhibit B hereto and charged against the Tenant Improvement Allowance, any barrier removal work or other required improvements, alterations or work to any portion of the Project generally required under the ADA (defined below) (the "ADA Work"); provided, if such ADA Work is required under the ADA due to Tenant's ’s use of the Premises or any Alteration (defined below) (other than the initial Tenant Improvements) made to the Premises by or on behalf of Tenant, then the cost of such ADA Work shall be borne solely by Tenant and shall not be included as part of the Operating Expenses; and (xii) the repairs and maintenance items set forth in Section 11.2 below. Landlord shall have the right, from time to time, to equitably allocate and prorate some or all of the Operating Expenses among different tenants and/or different buildings of the Project and/or on a building by building basis and Tenant acknowledges and agrees that Landlord shall have the right, in its sole and absolute discretion, to record a parcel or subdivision map with respect to the Park or a portion of the Park, the recordation of which may have the effect of increasing or decreasing Tenant’s Share of Operating Expenses. In either of such events, Tenant’s Share of Operating Expenses shall be commensurately revised to reflect any such increases or decreases that may result therefrom.

Appears in 1 contract

Samples: Lease Agreement (GigOptix, Inc.)

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