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 Tenant shall pay to Landlord as Additional Rent Tenant's Percentage, as hereinafter defined, of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, 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; 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, 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 depreciation of Building or equipment; interest; income or excess profits taxes; costs of maintaining Landlord's corporate existence; franchise taxes; and expenditures required to be capitalized for federal income tax purposes, unless aid 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 be as defined in the Preamble.
Appears in 1 contract
Operating Cost Escalation. If during the Lease Term the Operating Costs incurred for the Building in which the Demised Premises are located located, Complex and Office Building Area Parcel, for any Lease Year or proportionate part thereof if the Lease Term expires prior to the expiration of a Lease Year (herein the "Comparison PeriodCOMPARISON PERIOD") shall be greater than the Base Operating Costs (adjusted proportionately if the Comparison Period is less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent TenantRent, Lessee's Percentage, as hereinafter defined, Percentage of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord Lessor upon such wages and salaries; employee benefits and payroll taxes; accounting and legal fees; any sales, use or service taxes incurred in connection with the operation of the Complex or Parcel; supplies; repairs and maintenance; maintenance and service contracts; the cost of security and alarm services; license permits and inspection fees; painting; wall and window washing; laundry and towel service; tools and equipment (which are not required to be capitalized for federal Federal income tax purposes); fire, rent liability fire and other insurance; the cost of any loss which is the responsibility of Lessor because of the existence of commercially reasonable deductibles; 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; removal and all other items properly constituting direct operating costs according to standard accounting practices (hereinafter collectively referred to as the "Operating CostsOPERATING COSTS"), but not including depreciation of Building or equipment; interest; income or excess profits taxes; costs of maintaining Landlord's corporate existence; franchise taxes; . Lessor shall be entitled to amortize and expenditures required to be capitalized for federal income tax purposes, unless aid expenditures are for the purpose of reducing include in Operating Costs within an allocable portion of the Building and Office Building Area cost of capital improvement items, including life safety systems, which are reasonably calculated to reduce operating expenses or which are required under any governmental lawlaws, ordinance regulations or regulation, in ordinances which event were not applicable to the Building or Complex or Parcel at the time it was constructed. All such costs thereof shall be includedamortized over the reasonable life of such improvements with interest at two (2%) percent over the prime lending rate announced as such by Chase Manhattan Bank to its most creditworthy borrowers on the unamortized amount in accordance with such reasonable life and amortization schedules as shall be determined by Lessor in accordance with generally accepted accounting principles. As used in this Subsection 22(A25(A), the Base Period Costs for Operating Costs shall be as defined in on the PreambleReference Page. Any Operating Costs which under generally accepted accounting principles are to be capitalized shall be capitalized by Lessor hereunder and amortized over their useful lives.
Appears in 1 contract
Sources: Lease Agreement (Goamerica Inc)
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 after 2003 or proportionate part thereof if Partial Lease Year during 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 for periods less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent TenantRent, Lessee's Percentage, as hereinafter defined, Percentage of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord 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, 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; 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 Landlordthe Lessor's corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area 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, ordinance statute, ordinance, rule, order, requirements or regulation, in which event the costs thereof shall be included. As used Notwithstanding anything contained herein to the contrary, any additional costs incurred by Lessor during the 2003 Calendar Year by reason of Lessor or any of its vendors entering into new labor contracts or renewals or modifications of existing labor contracts shall not be included in this Subsection 22(A), the Base Period Costs for Operating Costs. The Base Operating Costs shall as be as defined in the Preamble.. The following, however, will not be included in Operating Expenses:
1. Costs of alterations of any lessee's premises; 2. Principal or interest payments on loans secured by mortgages or trust deeds on the Office Building Area or portions thereof; 3. Expenses incurred in leasing or procuring new lessees or extending, modifying or amending any leases or the space covered by any lease (including without limitation lease commissions, legal, advertising and renovating space); 4. The cost of electricity to any space leased or available for lease (it being understood that electricity for the Premises, other than HVAC, shall be separately paid by Lessee pursuant to Article 22 hereof and that Lessee shall not pay for increased electricity costs except for the Building's common areas, HVAC, base building systems and elevators) or for which Lessor receives reimbursement from Lessee or other lessees (other than reimbursements by way of their proportionate share of Utility and Energy Costs); 5. Except as provided below, depreciation or amortization of the Building or improvements in the Building or expenditures which standard real estate practices treat as capital in nature; 6. Expenses for repairs or other work occasioned by fire, windstorm or other casualty, whether or not insured, provided, however, a commercially reasonable deductible shall be included as part of Operating Costs if such amount is actually paid by Lessor as part of an insured casualty; 7. Legal expenses in enforcing the terms of or analyzing any lease or in connection with any actual or proposed sale or financing of the Building; 8. Fees and expenses paid to Lessor or an affiliate of Lessor for services to the extent such fees and expenses are above a reasonably competitive rate; 9. Costs of environmental investigation or remediation with respect to existing or future conditions in the Building, including without limitation asbestos (reserving to Lessor, however, its rights against Lessee for any violation of Lessee's environmental obligations under this Lease); provided Lessor shall have the right to periodically test the air and water quality in the Building and to perform routine operation and maintenance pursuant to an existing operation and maintenance plan and to treat the costs thereof as an Operating Cost and provided further that any expenses incurred by Lessor to comply with any future environmental law may be included in Operating Costs;
Appears in 1 contract
Sources: Lease Agreement (American Business Financial Services Inc /De/)
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 Partial Lease Year during 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 for periods less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent Tenant's PercentageRent, as hereinafter defined, Lessee’s Percentage of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord 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, 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; 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 Landlord's the Lessor’s corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area 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, ordinance statute, ordinance, rule, order, requirements or regulation, in which event the costs thereof shall be included. As used Notwithstanding anything contained herein to the contrary, any additional costs incurred by Lessor during the 2002 Calendar Year by reason of Lessor or any of its vendors entering into new labor contracts or renewals or modifications of existing labor contracts shall not be included in this Subsection 22(A), the Base Period Costs for Operating Costs. The Base Operating Costs shall as be as defined in the Preamble.
Appears in 1 contract
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 Partial Lease Year (herein during the "Comparison Period") Term shall be greater than the Base Operating Costs (adjusted proportionately if the Comparison Period is for periods less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent TenantRent, Lessee's Percentage, as hereinafter defined, Percentage of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord 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, rent liability fire 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; 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 Landlord's the Lessor’s corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area 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, ordinance statute, ordinance, rule, order, requirements 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 be as defined in the Preamble.
Appears in 1 contract
Sources: Lease Agreement (Silicom Ltd.)
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 Partial Lease Year during 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 for periods less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent Tenant's PercentageRent, as hereinafter defined, Lessee’s Percentage of all such excess Operating Costs. “Operating Costs Costs” shall includeinclude costs incurred for the Building in which the Premises are located, the Office Building Area and the Complex for, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord Lessor upon such wages and salaries; Building’s Percentage of Complex Expenses (as defined below); 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 purposesin accordance with generally accepted accounting principles (“GAAP”); 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; removal and all other items properly constituting direct operating costs according to standard accounting practices GAAP (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 Landlord's the Lessor’s corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposespursuant to GAAP, unless aid said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area (but only to the extent such costs are amortized in accordance with GAAP over the useful life of such item), or are required under any governmental or quasi-governmental law, ordinance statute, ordinance, rule, order, requirements or regulation, in which event the costs thereof shall be included. As used Notwithstanding anything contained herein to the contrary, any additional costs incurred by Lessor during the 2007 Calendar Year by reason of Lessor or any of its vendors entering into new labor contracts or renewals or modifications of existing labor contracts shall not be included in this Subsection 22(A)Base Operating Costs. In addition, the Lessee shall pay Lessor Lessee’s Percentage of all costs and expenses incurred by Lessor in connection with complying with any “homeland security” requirements under applicable law, and such costs and expenses shall not be included in Operating Costs. The Base Period Costs for Operating Costs shall as be as defined in the Preamble.
Appears in 1 contract
Sources: Lease Agreement (Tollgrade Communications Inc \Pa\)
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 Partial Lease Year during 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 for periods less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent TenantRent, Lessee's Percentage, as hereinafter defined, Percentage of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord 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, 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; 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 Landlordthe Lessor's corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area 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, ordinance statute, ordinance, rule, order, requirements or regulation, in which event the costs thereof shall be included. As used Notwithstanding anything contained herein to the contrary, any additional costs incurred by Lessor during the 2006 Calendar Year by reason of Lessor or any of its vendors entering into new labor contracts or renewals or modifications of existing labor contracts shall not be included in this Subsection 22(A)Base Operating Costs. In addition, the Lessee shall pay Lessor Lessee's Percentage of all costs and expenses incurred by Lessor in connection with complying with any "homeland security" requirements, and such costs and expenses shall not be included in Operating Costs. The Base Period Costs for Operating Costs shall as be as defined in the Preamble. Operating Costs shall also include the total cost and expenses incurred by Lessor maintaining certain areas of the Capital Office Park (the "Business Park") for the following items:
a. The cost of maintaining Business Park signs and lessee directories; and
b. the cost of water, electricity and other utilities used in connection with the operation and maintenance of the Business Park and that part of any area demised to a lessee; and
c. other costs reasonably incurred by Lessor to maintain the Business Park or cost incurred for services benefiting all lessees or occupants of the Business Park which, in the reasonable opinion of the Lessor are services desirable to operate the Business Park and not otherwise included or specifically prohibited under this Article 23; and
d. the cost of maintaining common facilities used by all lessees such as common grass areas, boulevard dividers, curbing and lighting. All costs associated with the operation of the Business Park shall be appropriately allocated among all of the buildings in the Business Park owned by Lessor.
Appears in 1 contract
Sources: Lease (Old Line Bancshares Inc)
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 Real Property for any Lease Year or proportionate part thereof if the Lease Term expires prior to the expiration of a Partial Lease Year (herein during the "Comparison Period") shall Term will be greater than the Base Operating Costs (adjusted reduced proportionately if to correspond to the Comparison Period is duration of periods less than a Lease Year), then Tenant shall will pay to Landlord Landlord, as Additional Rent Rent, Tenant's Percentage, as hereinafter defined, ’s Percentage of all such excess Operating Costs. Operating Costs shall will include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, 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; 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, 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; removal and all other items properly constituting direct operating costs according to standard accounting practices (hereinafter collectively referred to as the "“Operating Costs"” in this Lease), ; but not including depreciation of Building or equipment; interest; income or excess profits taxes; costs of maintaining the Landlord's ’s corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid said expenditures are for the purpose of reducing Operating Costs within at the Building and Office Building Area Real Property, or those which under generally applied real estate practice are expensed or regarded as deferred expenses or are required under any governmental law, ordinance or regulationLegal Requirement, in which event the costs thereof shall be included. As used Notwithstanding anything contained herein to the contrary, any additional costs incurred by Landlord during the Calendar Year by reason of Landlord or any of its vendors entering into new labor contracts or renewals or modifications of existing labor contracts will not be included in this Subsection 22(A)Base Operating Costs. In addition, the Base Period Costs for Tenant will pay Landlord Tenant’s Percentage of all costs and expenses incurred by Landlord in connection with complying with any “homeland security” requirements and such costs and expenses will not be included in Operating Costs shall be as defined in the PreambleCosts.
Appears in 1 contract
Sources: Short Form Lease (Ophthotech Corp.)
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 comparison Period is less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent TenantRent, Lessee's Percentage, as hereinafter defined, of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, labor including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord 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 rent, liability and other insurance; trash removal; lawn care; snow removal; sums levied, assessedassess, 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 vehiclesvehicle, 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 or of excess profits profit taxes; costs of maintaining LandlordLessor's corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid 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 be as defined in the Preamble.
Appears in 1 contract
Sources: Lease (Robocom Systems Inc)
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 Real Property for any Lease Year or proportionate part thereof if the Lease Term expires prior to the expiration of a Partial Lease Year (herein during the "Comparison Period") shall Term will be greater than the Base Operating Costs (adjusted reduced proportionately if to correspond to the Comparison Period is duration of periods less than a Lease Year), then Tenant shall will pay to Landlord Landlord, as Additional Rent Rent, Tenant's Percentage, as hereinafter defined, Percentage of all such excess Operating Costs. Operating Costs shall will include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, 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; 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, 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; removal and all other items properly constituting direct operating costs according to standard accounting practices (hereinafter collectively referred to as the "“Operating Costs"” in this Lease), ; but not including depreciation of Building or equipment; interest; income or excess profits taxes; costs of maintaining the Landlord's ’s corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid said expenditures are for the purpose of reducing Operating Costs within at the Building and Office Building Area Real Property, or those which under generally applied real estate practice are expensed or regarded as deferred expenses or are required under any governmental law, ordinance or regulationLegal Requirement, in which event the costs thereof shall be included. As used Notwithstanding anything contained herein to the contrary, any additional costs incurred by Landlord during the Calendar Year by reason of Landlord or any of its vendors entering into new labor contracts or renewals or modifications of existing labor contracts will not be included in this Subsection 22(A)Base Operating Costs. In addition, the Base Period Costs for Tenant will pay Landlord Tenant’s Percentage of all costs and expenses incurred by Landlord in connection with complying with any “homeland security” requirements and such costs and expenses will not be included in Operating Costs shall be as defined in the PreambleCosts.
Appears in 1 contract
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 Partial Lease Year during 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 for periods less than a Lease Year), then Tenant Lessee shall pay to Landlord Lessor, as Additional Rent TenantRent, Lessee's Percentage, as hereinafter defined, Percentage of all such excess Operating Costs. Operating Costs shall include, by way of illustration and not of limitation: electric, gas, including fuel surcharges or adjustments with respect thereto, water sewer, and other utilities and heating, ventilating and air conditioning costs for the Building to include all leased and leasable areas (not separately billed or separately metered within the Building) and Common Facilities electricity, lighting, water, sewer and other utilities for the Building and Office Building Area (herein "Utility and Energy Costs"); personal property taxes; management fees; labor, including all wages and salaries; social security taxes, and other taxes which may be levied against Landlord 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, rent liability fire 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; 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 Landlordthe Lessor's corporate existence; franchise taxes; and any expenditures required to be capitalized for federal income tax purposes, unless aid said expenditures are for the purpose of reducing Operating Costs within the Building and Office Building Area 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, ordinance statute, ordinance, rule, order, requirements or regulation, in which event the costs thereof shall be included. As used in this Subsection 22(A), the The Base Period Costs for Operating Costs shall as be as defined in the Preamble.
Appears in 1 contract
Sources: Lease (Purchasesoft Inc)