OPERATING COSTS ADJUSTMENT Clause Samples
OPERATING COSTS ADJUSTMENT. (JUN 2012)
A. Beginning with the second year of the Lease and each year thereafter, the Government shall pay annual incremental adjusted rent for changes in costs for cleaning services, supplies, materials, maintenance, trash removal, landscaping, water, sewer charges, heating, electricity, and certain administrative expenses attributable to occupancy.
B. The amount of adjustment will be determined by multiplying the base rate by the annual percent of change in the Cost of Living Index. The percent change will be computed by comparing the index figure published for the month prior to the Lease Term Commencement Date with the index figure published for the month prior which begins each successive 12-month period. For example, a Lease which commences in June of 2005 would use the index published for May of 2005, and that figure would be compared with the index published for May of 2006, May of 2007, and so on, to determine the percent change. The Cost of Living Index will be measured by the Department of Labor revised Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), U.S. city average, all items, (1982 to 1984 = 100) published by the Bureau of Labor Statistics. Payment will be made with the monthly installment of fixed rent. Rental adjustments will be effective on the anniversary date of the Lease; however, payment of the adjusted rental rate will become due on the first workday of the second month following the publication of the Cost of Living Index for the month prior to the commencement of each 12-month period.
C. In the event of any decreases in the Cost of Living Index occurring during the term of the occupancy under the Lease, the rental amount will be reduced accordingly. The amount of such reductions will be determined in the same manner as increases in rent provided under this paragraph.
D. If the Government exercises an option to extend the Lease term at the same rate as that of the original term, the option price will be based on the adjustment during the original term. Annual adjustments will continue.
OPERATING COSTS ADJUSTMENT. In addition to Minimum Monthly Rental, Tenant shall pay to Landlord, from Possession Date and throughout the Term of this Lease (including any Option Periods) as Additional Rent, Tenant’s Proportionate Share of Landlord's Operating Costs for the Leased Premises.
OPERATING COSTS ADJUSTMENT. The Base Rent payable pursuant to Section 1 of the Sixth Amendment to Lease is predicated, in part, upon an operating cost "stop" for the Building of $5.79 per rentable square foot. Tenant shall pay to Landlord as additional rent for the Existing Space the amount derived by multiplying 51,872 (being the rentable area of the Existing Space)by the amount by which the total annual operating costs of the Building exceed $5.79 per rentable square foot.
OPERATING COSTS ADJUSTMENT. Tenant’s Proportionate Share of the amount by which the Operating Costs incurred during any calendar year during the Term exceed the Operating Costs incurred during the Base Year (Section 3.2)
OPERATING COSTS ADJUSTMENT. Subject to the modification provisions set forth in Sections 3.2(f) and 3.2(g) of the Lease, Tenant's Proportionate Share (Operating Costs) of the amount by which the Operating Costs incurred during any calendar year during the Term exceed the Operating Costs incurred during the Base Year (Section 3.2)
OPERATING COSTS ADJUSTMENT. Sears Lease As of the date of this Lease, Sears Roebuck & Co. ("Sears") leases approximately 248,376 rentable squa▇▇ ▇▇▇▇ of space (the "Retail Space") in the Building. During the Term, except as provided herein, total Operating Costs will be reduced by the annual amount set forth on Exhibit H attached to this Lease (the "Retail Contribution"). The Retail Contribution covers a portion of the Operating Costs (the "Sears Operating Costs") for water, management fees, administrative fees and insurance, being the services (the "Sears Services") which Landlord is, as of the date of this Lease, obligated to furnish to Sears under the Sears Lease. Any other services or requirements needed by Sears to operate the Retail Space are paid by Sears. Landlord further agrees that if in the future Landlord provides additional services (other than the Sears Services) to Sears or any other retail occupant of the Retail Space, then the cost of such additional services will not be included in Operating Costs. In addition, if following the expiration of the Sears Lease, the Retail Space is used for office purposes rather than retail purposes, the parties will make an equitable adjustment (on a proportionate basis) to (i) the Retail Contribution, (ii) Tenant's Proportionate Share - Operating Costs, (iii) the Base Year Operating Costs, and (iv) any other item(s) requiring an adjustment as a result of such conversion; provided, however, that in no event will any such adjustment result in Tenant paying any more or less, on a per square foot basis, than what Tenant would have paid had the Sears Lease not expired.
OPERATING COSTS ADJUSTMENT. Section 4.6............................17
OPERATING COSTS ADJUSTMENT