Operating Cost Escalation. With respect to the First Fiscal Year for Tenant's Paying Operating Cost Escalation, or fraction thereof, and any Fiscal Year or fraction thereafter, Tenant shall pay to Landlord, as additional rent, Operating Cost Escalation (as defined below), if any, on or before the thirtieth day following receipt by Tenant of Landlord's Statement (as defined below). As soon as practicable after the end of each Fiscal Year ending during the Term and after Lease termination, and in either case, no later than 180 days thereafter, Landlord shall render a statement ("Landlord's Statement") in reasonable detail and according to usual accounting practices certified by Landlord and showing for the preceding Fiscal Year or fraction thereof, as the case may be, Landlord's Operating Costs. Upon request, Landlord will provide access to Tenant, at reasonable times, to Landlord's books and records relating to the preparation of Landlord's statement, and Tenant may inspect and copy such records as are necessary to verify the accuracy of the Landlord's annual statement. In the event of a dispute, Tenant shall have the right to conduct or have conducted an audit according to generally accepted accounting principles consistently applied, with which Landlord shall cooperate in good faith. In the event of an error of five percent or more, Landlord shall bear all costs of such inspection and audit. For the purpose of this Paragraph 4.2, Landlord's Operating Costs shall exclude the interest and amortization on mortgages for the Building and Lot or leasehold For this purpose of this Paragraph 4.2, Landlord's Operating Costs shall include, without limitation: real estate taxes on the Building and Lot; installments and interest on assessments for public betterments or public improvements (other than those if any, relating to a traffic signal and related accessory improvements and turnaround on Route 9 adjacent to the Lot); expenses of any proceedings for abatement of taxes and If the management fee is reduced by reason of a tenant's default in the payment of fixed or additional rent, Landlord shall reduce the Annual Estimated Operating Costs by the amount of such reduction in the management fee. In case of services which are not rendered to all areas on a comparable basis, the proportion allocable to the Premises shall be the same proportion which the Rentable Floor Area of Tenant's Space bears to the total rentable floor area to which such service is so rendered (such latter area to be deter...
Operating Cost Escalation. If the Operating Costs incurred for the Building in which the Premises are located and Office Building Area for any Lease Year or Partial Lease Year during the Lease Term shall be greater than the Base Operating Costs (adjusted proportionately for periods less than a Lease Year), then Lessee shall pay to Lessor, as Additional Rent, Lessee's Percentage of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Lessor upon such wages and salaries; supplies; repairs and maintenance; maintenance and service contracts; painting; wall and window washing; laundry and towel service; tools and equipment (which are not required to be capitalized for federal income tax purposes); fire and other insurance; trash removal; lawn care; snow removal and all other items properly constituting direct operating costs according to standard accounting practices (hereinafter collectively referred to as the "Operating Costs"), but not including depreciation of Building or equipment; interest; income or excess profits taxes; costs of maintaining the Lessor's corporate existence; franchise taxes; any expenditures required to be capitalized for federal income tax purposes, unless said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area, or those which under generally applied real estate practice are expensed or regarded as deferred expenses or are required under any governmental or quasi-governmental law, statute, ordinance, rule, order, requirements or regulation, in which event the costs thereof shall be included. The Base Operating Costs shall as be as defined in the Preamble.
Operating Cost Escalation. The LESSEE shall pay to the LESSOR as additional rent hereunder when and as designated by notice in writing by LESSOR, all increases or projected increases in operating expenses over those incurred during the calendar year 2006. For the purposes of this paragraph, the calendar year 2006 operating expenses shall be $1.20 per rentable square feet. During the calendar year 2007, the operating expenses escalation paid by the LESSEE shall not increase by more than 5% over the above-mentioned calendar year 2006 operating expenses, the amount of the operating cost expenses incurred during calendar year 2007, subject to the 5% cap, shall be the “Operating Cost Base” (i.e. if the operating cost expenses incurred during calendar year 2007 is equal to $1.21 per rentable square feet, the Operating Cost Base shall be $1.21 per rentable square feet, if the operating cost expenses incurred during calendar year 2007 is equal to $1.31 per rentable square feet, the Operating Cost Base shall be $1.26 per rentable square feet which is the maximum amount allowed for calendar year 2007). During the calendar year 2008, and each year thereafter for the remainder of the lease term, the LESSEE shall pay to the LESSOR as additional rent hereunder when and as designated by notice in writing by LESSOR, all increases or projected increases in operating expenses incurred over the Operating Cost Base. Said payments shall include estimate installment payments based upon the LESSOR’S projection of the actual operating expenses. Actual operating cost expenses will not be known until after the conclusion of each calendar year, retroactive adjustment to estimate payments shall be necessary when actual operating cost expenses are known. The LESSEE shall pay LESSOR, within thirty (30) days of receiving written notice thereof, the balance owed due to insufficient estimated payments made in accordance with the above, and the LESSOR shall credit the LESSEE’S account for any excess estimated payments made in accordance with the above. Within thirty (30) days of its receipt of notice from LESSOR regarding the actual operating cost expenses for any calendar year, LESSEE may request additional written documentation evidencing the actual operating cost expenses for said calendar year and J.FSSOR shall provide such written documentation within thirty (30) days of such request. This request for information shall be in addition to the review or audit available to LESSEE as described below. Operating expen...
Operating Cost Escalation. 6 4.3 PAYMENTS................................................. 10
Operating Cost Escalation. The LESSEE shall pay to the LESSOR as additional rent hereunder when and as designated by notice in writing by LESSOR, 6.3 percent of any increase in operating expenses over those incurred during the calendar year 2001. Operating expenses are defined for the purposes of this agreement as:
Operating Cost Escalation. Tenant shall pay to Landlord, as Additional Rent, Operating Cost Escalation (as defined below) on or before the 10th day following receipt by Tenant of Landlord's Operating Cost Statement (as defined below).
Operating Cost Escalation. A. If, in any calendar year falling partly or wholly within the Term, Operating Costs (as hereinafter defined) paid or incurred by Landlord shall exceed the Operating Costs for the 2011 calendar year, Tenant shall pay upon demand to Landlord for such year as additional rent Tenant's proportionate share of such excess. Any payment to be made pursuant to this Paragraph 24 with respect to the year in which this Lease commences or terminates shall be prorated.
Operating Cost Escalation. (i) If during the Lease Term the Operating Costs incurred for the Building in which the Demised Premises are located and Xxxxxx Xxxxxxxx Xxxx for any calendar year or proportionate part thereof if the Lease Term expires prior to the expiration of a calendar year (herein the "Comparison Period") shall be greater than the Base Operating Costs (adjusted proportionately if the Comparison Period is less than a calendar year), then Lessee shall pay to Lessor, as Additional Rent, Lessee's Percentage of all such excess Operating Costs. Operating Costs shall include all reasonable costs and expenses of owning, operating, managing, maintaining, repairing, replacing and securing the Building and the Office Building Area including, by way of illustration and not by way of limitation: personal property taxes; asset and/or property management fees; labor, including all wages and salaries and benefits for those individuals rendering services to the Building and/or the Office Building Area, which are generally comparable to the wages, salaries and benefits paid to those providing services to other buildings of comparable quality in the general area of the Building but not including any employees above the rank of building or property manager; social security taxes, and other taxes (excluding late payment charges) which may be levied against Lessor upon such wages and salaries; supplies; repairs, maintenance and replacements; maintenance and service contracts; painting; wall and window washing; tools and equipment (which are not required to be capitalized under generally accepted accounting principles); fire, rent, liability and other insurance; trash removal; lawn care; snow removal; sums levied, assessed, imposed or required to be paid to any governmental authority on account of the parking of motor vehicles, including all sums required to be paid pursuant to transportation controls imposed by the Environmental Protection Agency under the Clean Air Act of 1970, or otherwise required to be paid by any governmental authority with respect to the parking, use, or transportation of motor vehicles, or reduction or control of motor vehicle traffic, or motor vehicle pollution; and all other items properly constituting direct operating costs according to standard accounting practices (hereinafter collectively referred to as the "Operating Costs") but not including Real Estate Taxes (as hereinafter defined), Utility and Energy Costs, depreciation of Building or equipment; principa...
Operating Cost Escalation. From and after the Base Year as same is stated on the Summary Pages, if the Operating Costs incurred for the Building in which the Premises are located, and Office Building Area (including parking and landscaped and access areas), for any calendar year or proportionate part thereof during the lease term or any renewal term shall be greater than the Base Operating Costs then Tenant shall pay to the Landlord as additional rent its proportionate share of all such Operating Costs in excess of Base Operating Costs. Operating Costs shall include, by way of illustration and not of limitation, personal property taxes, reasonable management fees actually charged to the Owner, labor, charges for persons working at the Building for time spent working at or on the Building (for management services, not for capital improvements), including all wages and salaries, social security taxes, and other taxes which may be levied against Landlord upon such wages and salaries, supplies, repairs and maintenance, maintenance and service contracts, cost of painting, wall and window washing, laundry and towel service, tools and equipment (which are not required to be capitalized for federal income tax purposes or in accordance with good accounting practices), fire and other insurance, cost of electrical surveys, trash removal, lawn care, snow removal and other items properly constituting direct out-of-pocket operating costs according to standard accounting practices (herein collectively referred to as the "Operating Costs), but not including depreciation of Building or equipment, interest, mortgage debt service, income or excess profit taxes, costs of maintaining the Landlord's corporate existence, franchise taxes, any expenditures required to be capitalized for federal income tax purposes or in accordance with good accounting practices or office expenses, or salaries of the Landlord's executive officers, or fuel, utility and electric cost escalation which is covered in subsection B post. As used in this Section 35, the Base Operating Costs shall be the Operating Costs incurred during the Base Year shown on the Summary Page (page 2) as reasonably and fairly adjusted, however, to reflect any projections that are needed to compensate for vacancies in the building during the Base Year or in any calendar year during the Term (or Extended Term)---the projection to proceed on the premises as if at least 90% of the rentable portion of the building were in fact occupied throughout the whole...
Operating Cost Escalation. If during the Lease Term the Operating Costs incurred for the Building in which the Demised Premises are located and Office Building Area for any Lease Year or proportionate part thereof if the Lease Term expires prior to the expiration of a Lease Year (herein the "Comparison Period") shall be greater than the Base Operating Costs (adjusted proportionately if the comparison Period is less than a Lease Year), then Lessee shall pay to Lessor, as Additional Rent, Lessee's Percentage, as hereinafter defined, of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: personal property taxes; management fees; labor including all wages and salaries; social security taxes, and other taxes which may be levied against Lessor upon such wages and salaries; supplies; repairs and maintenance; maintenance and service contracts; electricity to light the building and power the HVAC systems to the extent such expenses are not specifically reimbursed as set forth in Article 21; painting; wall and window washing; laundry and towel service; tools and equipment (which are not required to be capitalized for federal income tax purposes); fire, rent, liability and other insurance; trash removal; lawn care; snow removal; sums levied, assess, imposed or required to be paid to any governmental authority on account of the parking of motor vehicles, including all sums required to be paid pursuant to transportation controls imposed by the Environmental Protection Agency under the Clean Air Act of 1970, or otherwise required to be paid by any governmental authority with respect to the parking, use, or transportation of motor vehicle, or reduction or control of motor vehicle traffic, or motor vehicle pollution; and all other items properly constituting direct operating costs according to standard accounting practices (hereinafter collectively referred to as the "Operating Costs"), but not including depreciation of Building or equipment; interest; income of excess profit taxes; costs of maintaining Lessor's corporate existence; franchise taxes; any expenditures required to be capitalized for federal income tax purposes, unless said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area or are required under any governmental law, ordinance or regulation, in which event the costs thereof shall be included. As used in this Subsection 22(A), the Base Period Costs for Operating Costs shall b...
