Increase in Operating Costs Sample Clauses

Increase in Operating Costs. Tenant shall, for each calendar year after the year in which the Base Year Operating Charges (as hereinafter defined) are determined, pay to Landlord, as additional rent, two and 50/100 percent (2.50%) (being Tenant's agreed-upon proportionate share) of the increase during the term of this Lease in Annual Operating Charges (as hereinafter defined) over the Base Year Operating Charges. The Annual Operating Charges for any calendar year are hereby defined as the sum of the following costs and expenses: (i) gas, electricity, water, sewer and other utility charges (including surcharges) of whatever nature, (ii) insurance premiums, (iii) building personnel costs, including, but not limited to, salaries, wages, fringe benefits and other direct and indirect costs of engineers, superintendents, watchmen, porters and any other building personnel, (iv) costs of service and maintenance contracts, including, but not limited to, chillers, boilers, controls, elevators, mail chute, windows, janitorial and general cleaning, security services, and management fees, (v) all other maintenance and repair expenses and supplies which are deducted by Landlord for such calendar year in computing its Federal income tax liability, (vi) any other costs and expenses (i.e., items which are not capital improvements) incurred by Landlord in operating the Building, including ground rent, if any, and principal and interest payments, in excess of the amount paid during the Base Year on the permanent loan,* (vii) the cost of any additional services not provided to the Building at the Lease Commencement Date but thereafter provided by Landlord in the prudent management of the Building, and (viii) the cost of any capital improvements which are made by Landlord after completion of initial construction of the Building; provided, however, that the cost of each such capital improvement, together with any financing charges incurred in connection therewith, or imputed financing charge if the improvement is not financed by borrowing shall be amortized in constant annual payments over the useful life thereof and only that portion thereof attributable to such calendar year shall be included in the Annual Operating Charges for such calendar year.** Annual Operating Charges shall not include (i) principal payments or interest payments in an amount equal to the Base Year payments, on any permanent mortgages, (ii) leasing commissions payable by Landlord or (iii) deductions for depreciation of the Building....
Sample 1See All (4)
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Increase in Operating Costs. In addition to each monthly installment of Base Rent Tenant shall pay to Landlord as Additional Rent nine percent (9.0%) (being the approximate and agreed upon proportion which the floor area of the Premises bears to the total rentable office area of the Office Complex and being herein referred to as the "Tenant's Proportionate Share") of the excess during each calendar year of the Lease Term of the Basic Cost (as hereinafter defined). All payments under this Section 3.3 shall be deemed and considered to be Additional Rent as defined in Section 3.4 hereof.
Sample 1
Increase in Operating Costs. (i) For each Comparison Year after the Base Year, as herein defined, Lessee shall pay to Lessor as additional Rent Lessee's Proportionate Percentage of the increase (if any) in the Operating Costs of the Building as herein defined, for such Comparison Year over the Operating Costs of the Building for the Base Year as herein defined; provided that, Lessee's obligation to pay Lessee's Proportionate Percentage of any increase in Operating Costs shall not commence to accrue until the first (1st) anniversary of the Commencement Date. Within ninety (90) days after the expiration of each Comparison Year during the Lease Term, or as soon thereafter as is reasonably possible, a certified public accountant selected by Lessor shall audit the books and records of Lessor and shall make a determination of the increase in the Operating Costs of the Building for such Comparison Year over the Operating Costs of the Building for the Base Year. Lessor shall submit to Lessee a statement (the "Expense Statement") of the aforesaid determination, including Lessee's Proportionate Percentage of such increase ("Lessee's Expense Increase Share"). Within thirty (30) days after the delivery of the Expense Statement, Lessee shall pay to Lessor Lessee's Expense Increase Share. In the event Lessee fails to dispute any such Expense Statement within forty-five (45) days following delivery of such Expense Statement, such Expense Statement shall be deemed final and conclusive against Lessee.
Sample 1
Increase in Operating Costs. Commencing on January 1, 1998, if Landlord's Operating Costs for any Comparison Year shall be higher than the Operating Costs for the Base Year, the Additional Rent payable by Tenant hereunder for the Comparison Year shall be Tenant's Proportionate Share of such increase.
Sample 1
Increase in Operating Costs. That Landlord may, upon mailing two (2) months prior written notice to the Tenant, increase the unpaid balance of the annual rent, and each unpaid monthly installment of said annual rent payable during the term hereof, or of any renewal or extension thereof, by Tenant’s proportionate share of any increase in the Operating Costs of the apartment complex in which the Premises are located (hereinafter referred to as the “Apartment Complex”). Said increase in the Operating Costs is the difference between the Landlord’s Operating Costs during its last fiscal year preceding the date of this Lease and the average monthly amount of such Operating Costs incurred by Landlord from the first month subsequent to the date of this Lease through the month immediately prior to the date of Landlord’s notice hereunder, multiplied times twelve (12). Tenant shall pay each month a sum equal to 1/12 of Tenant’s proportionate share of said increase. Tenant’s proportionate share of any such increase in the Operating Costs shall be determined on the basis which the area of the Premises bears to the total area of all apartments in the Apartment Complex provided, however, that in no event shall any increase in rent violate any applicable law or regulation. The Tenant shall pay Tenant’s proportionate share of such increase, together with the rent expressly specified in this Lease, or any renewal or extension thereof, on the effective date of the increase and, thereafter, on the first day and every month during the Lease term, and any renewal or extension thereof. The Operating Costs of the Apartment Complex are hereby defined as the total costs and expense incurred by Landlord in operating, repairing and maintaining the Apartment Complex including, without limitation, gardening and landscaping, water, sewage, lighting, sanitary control, removal of snow, trash, garbage, and other refuse, heating, cooling, electricity and other utilities, insurance applicable to the Apartment Complex, janitorial and cleaning service, real estate taxes, assessments, rates and charges imposed with respect to the Apartment Complex, replacing or repairing of pavement curbs, walkways, drainage and lighting facilities, the cost of personnel (including, without limitation, salaries, wages and so-called fringe benefits) to implement such services, depreciation of machinery and equipment used for such operations, charges under maintenance and service contracts relating to the Apartment Complex, and equipment ass...
Sample 1
Increase in Operating Costs. A. If, in any calendar year commencing with calendar year 1995, Lessor's Annual operating Costs (as hereinafter defined) with respect to the Demised Premises shall be higher than such costs for the year ending 1995 (the "Base Year"), then in each such year during the Term, Lessee shall be obligated to pay, in addition to the monthly rental provided in Section 3 herein, an amount equal to Four percent (4%) of the excess over the Base Year's Annual Operating Cost (such percentage being based upon the square footage of the Subleased Premises to the Demised Premises). The term "
Sample 1
Increase in Operating Costs. Rent shall include Tenant's Percentage Share of the total dollar increases (separately determined), if any, in the Operating Expenses, Real Property Taxes and Insurance (collectively, the Operating Costs) paid or incurred by Landlord during each calendar year of the Term over the Base Year Operating Costs. If less than one hundred percent (100%) of the rentable area of the Building is occupied during the Base Year, Operating Expenses shall be adjusted to equal Landlord's reasonable estimate of Operating Expenses if ninety-five percent (95%) of the total rentable area of the Building were occupied during the Base Year.
Sample 1
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Increase in Operating Costs. If Landlord's Operating Costs for any Comparison Year shall be higher than the Operating Costs for the Base Year, Tenant shall also pay to Landlord, as Additional Rent for the Comparison Year, Tenant's Proportionate Share of such increase.
Sample 1

Related to Increase in Operating Costs

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Operating Expenses Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant hereby agrees to pay one hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term Operating expenses shall include all costs to Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

  • Total Operating Expenses All costs and expenses paid or incurred by the Company, as determined under GAAP, that are in any way related to the operation of the Company or its business, including the Advisory Fee, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and taxes incurred in connection with the issuance, distribution, transfer and registration of securities, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines; (vi) acquisition fees and Acquisition Expenses, (vii) real estate commissions on the sale of Real Property, and (viii) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgages or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair, and improvement of property). The definition of “Total Operating Expenses” set forth above is intended to encompass only those expenses which are required to be treated as Total Operating Expenses under the NASAA REIT Guidelines. As a result, and notwithstanding the definition set forth above, any expense of the Company which is not part of Total Operating Expenses under the NASAA REIT Guidelines shall not be treated as part of Total Operating Expenses for purposes hereof. 2%/25% Guidelines. 2%/25% Guidelines shall have the meaning set forth in Section 13.

  • Common Area Operating Expenses Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share (as specified in Paragraph 1.6(b)) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions:

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Operating Expense Limit The Fund’s maximum operating expense limits (each an “Operating Expense Limit”) in any year shall be that percentage of the average daily net assets of the Fund as set forth on Schedule A attached hereto and incorporated by this reference.

  • Rent and Operating Expenses Section 4.1 Basic Rent Section 4.2 Operating Expenses Section 4.3

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Increase in Insurance Premiums If an increase in any insurance premiums paid by Landlord for the Building is caused by Tenant's use of the Premises or if Tenant vacates the Premises and causes an increase in such premiums, then Tenant shall pay as additional rent the amount of such increase to Landlord.

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