Existing Premises Extension Term Proportionate Share Sample Clauses
Existing Premises Extension Term Proportionate Share. As of the first day of the Extension Term, Tenant’s obligation to pay its Proportionate Share of Operating Expenses with respect to the Existing Premises shall be amended to provide that Tenant shall pay its Proportionate Share of Operating Expenses to the extent that Landlord’s actual cost of Operating Expenses exceed Landlord’s cost thereof in the calendar year 2011 (the “Existing Premises Base Year”). Landlord agrees that increases in the Controllable Portion of Operating Expenses shall not exceed five percent (5%) from the Existing Premises Base Year to the following calendar year between other calendar years in the Extension Term, applied on a non-cumulative basis. For purposes hereof, the “Controllable Portion of Operating Expenses” shall not include real estate taxes and other governmental charges, utilities, insurance, increases in the wages of employees actually performing work or services at the Building to the extent that such increases are contractually or by law tied to increases in the minimum wage, and commercially reasonable costs associated with any increased security provided by Landlord based upon responses to changes in external factors. In the event that Tenant exercises the Option to Renew set forth herein, the foregoing limitation on increases in the Controllable Portion of Operating Expenses shall not be applicable to the increase in Operating Expenses between the last year of the Extension Term and the first year of any renewal term, but shall instead first be applicable to the increase in the Controllable Portion of Operating Costs between the first and second calendar years within the renewal term and between calendar years thereafter.