Operating Cost Base Year Sample Clauses

Operating Cost Base Year. The Lease (Section 9.2 of the Original Lease as amended by Paragraph 6 of the Second Amendment and Paragraph 6 of the Third Amendment) shall be amended by inserting in addition thereto the following: "Notwithstanding anything to the contrary contained in this Lease, Landlord and Tenant acknowledge and agree that beginning on January 1, 2017 and ending on the Expiration Date, the Operating Costs Base Year shall be Calendar Year 2017."
Operating Cost Base Year. Prior to January 1, 2020, Tenant’s Operating Costs Base Year shall remain Calendar Year 2017. Notwithstanding anything to the contrary contained in the Lease, Landlord and Tenant acknowledge and agree that beginning on January 1, 2020 and ending on the Expiration Date, the Operating Costs Base Year shall be Calendar Year 2020.
Operating Cost Base Year. 2007. If any other provision of this Sublease contradicts any definition of this Article, the provision of the Sublease will prevail.

Related to Operating Cost Base Year

Operating Costs The term “Operating Costs,” as used in this Lease, shall mean all expenses and costs of every kind and nature which Landlord shall pay or become obligated to pay because of or in connection with the ownership, operation, maintenance, replacement, and repair of the Building, Real Estate and Common Areas (but expressly excluding all costs associated with the initial construction of the Building and Tenant Improvements) including, without limitation, any and all buildings, structures, and improvements in the Common Areas, and the Real Estate computed in accordance with generally accepted accounting principles consistently applied (“GAAP”), including, without limitation, painting (including, without limitation, façade painting or caulking); service and maintenance contracts; accounting, consulting, and reasonable legal fees incurred in the operation of Real Estate (not tenant specific or related to Landlord’s operation as an entity); windows and general cleaning; removing of snow, ice, debris, garbage, and other refuse and surface water; security personnel; electronic intrusion and fire control and telephone alert systems; machinery and equipment used in the maintenance, repair, replacement, and operation of the Common Areas and the Building; storm, sanitary, and other drainage or detention systems; sprinklers and other fire protection systems; irrigation systems; electrical, gas, water, sewage, telephone, and other utility systems and charges; roof, roof membrane, entrances; the cost of compliance with any accessibility statute including, without limitation, the Americans with Disabilities Act, including all amendments thereto and regulations thereof (“ADA”) occurring after the Possession Date and, if such compliance requires a capital repair or improvement, the same shall be subject to the limitations provided below; all costs and expenses of water or other common utilities; off-site improvements (including off-site detention areas, landscaping, and traffic signals); traffic regulation, directional signs, and traffic consultants; all licenses, permits, certificates, and inspection fees related to ongoing maintenance and operations of the Building or Real Estate including all Common Areas; paving, curbs, sidewalks, walkways, roadways, and parking surfaces (including repaving, sealing, striping, and patching and snow, ice and hazard removal), lighting facilities; informational signage; surcharges levied upon or assessed against parking spaces or areas; payments toward mass transit or otherwise as required by federal, state or local governmental authorities; the cost and expense of landscaping, gardening, and planting; decorating; heating, ventilating, and air conditioning and other Building systems maintenance serving the Common Areas that are not otherwise the obligations of Tenant hereunder; the costs of any and all types of insurance coverages customary for similar buildings or otherwise required herein and carried by Landlord covering the Common Areas, Building and Real Estate, including, without limitation, public liability, personal and bodily injury and property damage liability and automobile coverage, fire and extended coverage, vandalism and malicious mischief and all broad form coverages, sign insurance, rental abatement insurance, terrorism (if customary), and any other insurance that may be carried by Landlord covering the Common Areas, Building and Real Estate which is customary for similar buildings or otherwise required herein; the rental charges for such machinery and equipment used therefor; all charges for utilities supplied to the Common Areas; the cost of personnel (including applicable payroll taxes, workmen’s compensation insurance, and disability insurance) to the extent actually involved in the operations of the Building or required to implement any of the foregoing, including the policing of the Common Areas and the directing of traffic and parking of automobiles on the parking areas thereof with costs to be prorated based on the actual time spent on operations for the Common Areas; all costs and expenses incurred by Landlord pursuant to any off-site easement or other agreement or matter of record related to the Real Estate (including, without limitation, the off-site parking easement and access easements benefitting the Real Estate); and an overhead cost equal to five percent (5%) of the amount of all Operating Costs exclusive of the overhead costs (“Administration Fee”). Landlord may cause any or all of said services to be provided by an independent contractor or contractors, management agent, or management company, provided that the costs of providing such services shall paid exclusively from the Administrative Fee and shall not be separately included as part of the Operating Costs. The cost of any Operating Costs incurred by Landlord which are required or permitted to be capitalized pursuant to Section 263A of the Internal Revenue Code of 1986, as amended, and Department of Treasury regulations promulgated thereunder (a “Capitalized Expense”), shall be amortized over the useful life of such Capitalized Expense on a straight-line basis without markup (except for the Administration Fee), and Tenant shall reimburse Landlord for the amortized portion of such Capitalized Expense accrued, as an Operating Costs, each calendar year until the Capitalized Expense is fully amortized. The useful life of any Capitalized Expense shall be determined by reference to the categories of property under the “general depreciation system” as published by the Internal Revenue Service from time to time (currently published as IRS Publication 946). In addition, in the event Landlord installs equipment in or makes improvements or alterations to the Building or Real Estate which are for the purpose of reducing energy costs, maintenance costs, or other costs and expenses, or which are required under any Laws (including any accessibility statute) which were not required as of the Possession Date, the same shall also be considered a Capitalized Expenses, Landlord may amortize such investment on a straight line basis over the useful life of such equipment, improvement, or alteration determined by reference to the categories of property under the “general depreciation system” as published by the Internal Revenue Service from time to time (currently published as IRS Publication 946). For the avoidance of doubt, in the event the Lease terminates prior to the conclusion of any amortization period determined hereunder, Tenant shall not be liable for the unamortized amount of any Capitalized Expense that remains outstanding as of the time of such termination. ). In no event shall those matters set forth in Exhibit H be included in Operating Costs.
Operating Expenses All expenses, costs, and disbursements of every kind which Landlord pays or becomes obligated to pay in connection with the operation, management, repair, cleaning and maintenance of the Land and the Building (including all facilities and equipment in operation on the Term Commencement Date and such additional facilities and equipment in subsequent years as may be determined by Landlord to be necessary or beneficial in reducing Operating Expenses or protecting the health and safety of occupants of the Building) and the provision of Basic Services, including, but not limited to (a) wages, salaries and fees, including taxes, insurance, and benefits of all Persons engaged in connection with Basic Services, (b) the cost of (i) supplies and materials, electricity and lighting, for Common Areas, (ii) water, heat, air conditioning, and ventilating for the Building, (iii) maintenance, janitorial, and service agreements, (iv) snow removal and maintenance of parking and landscaped areas, (v) insurance, including casualty and liability insurance applicable to the Building and Landlord’s personal property used in connection with the Building, (vi) repairs and general maintenance, (vii) capital items and improvements which are primarily for the purpose of reducing Operating Expenses, or which are designed to protect the health and safety of occupants of the Building or which may be required by a Governmental Authority, amortized over the reasonable life of the capital items with the reasonable life and amortization schedule being determined by Landlord in accordance with generally accepted accounting principles, (viii) pursing an application for an abatement of Taxes to the extent not deducted from the abatement, if any, received, (ix) independent auditors, (x) that portion of Landlord’s central accounting functions allocable to the Building, (c) management fees, not to exceed eight percent (8%) of Basic Rent in any Lease Year, and (d) maintenance charges with respect to the Land imposed on the Landlord under the Ground Lease. Operating expenses will be determined on the accrual basis in accordance with generally accepted accounting principles consistently applied. Operating Expenses do not include (i) costs of services in excess of Basic Services billed to and payable by specific Tenants; (ii) Taxes, any sales tax, gross receipt tax or similar tax based on Rent, and any income, profits or similar tax imposed on Landlord; (iii) expenditures for capital improvements, and any depreciation or amortization, except amortization of certain capital expenditures as provided in clause (vii) above; (iv) executive salaries above the grade of building manager; (v) advertising and promotional expenses; (vi) brokerage commissions; (vii) interest, principal and other amounts payable under any mortgage, and rent payable under the Ground Lease; (viii) expenditures for correcting construction defects in the Building; (ix) expenditures for any alteration, renovation, redecoration, subdivision, layout or finish of any tenant space in * See Rider and Addendum - 14 – 6 – the Building; (x) cost of any curative action required to remedy damage caused by or resulting from the negligence or willful act of Landlord, its agents, servants or employees; (xi) legal and other professional fees incurred by Landlord in connection with the leasing of space in the Building and in connection with enforcing leases, or for any other matters not directly connected to the administration or operation of the Building; and (xii) costs of any type relating to the development of the Building.
Base Year The defined term “Base Year” set forth in Section 1.10 of the Lease is deleted in its entirety and replaced with the following:
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:
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”).
Tenant’s Share of Operating Expenses Tenant shall pay Tenant’s Share of Operating Expenses in the respective shares of the respective categories of Operating Expenses as set forth below.
Lease Year Lease Year" means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.
Operating Expense Increase Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share, as hereinafter defined, of the amount by which all Operating Expenses, as hereinafter defined, for each Comparison Year exceeds the amount of all Operating Expenses for the Base Year, such excess being hereinafter referred to as the "Operating Expense Increase," in accordance with the following provisions:
Direct Expenses 1. Fees and expenses of its directors (including the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;
Total Operating Expenses All costs and expenses paid or incurred by the Corporation, as determined under generally accepted accounting principles, that are in any way related to the operation of the Corporation or to corporate business, including Asset Management Fees and other operating fees paid to the Advisor, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Property, (viii) distributions made with respect to interests in the Operating Partnership, and (ix) other fees and expenses connected with the acquisition, Disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair, and improvement of property). Notwithstanding the definition set forth above, any expense of the Corporation 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.