Operating Expenses; Utilities Sample Clauses

Operating Expenses; Utilities. All amounts payable under any Contracts (to the extent assumed by Buyer and subject to the terms of Section 5C(2)); assignable permits and/or inspection fees (calculated on the basis of the period covered); and any other expenses of the operation and maintenance of the Property shall be prorated between Buyer and Seller, Seller being charged and credited for all of the same allocable to the period up to the Closing Date and Buyer being charged and credited for all of the same allocable to the period from and after the Closing Date.
Sample 1
AutoNDA by SimpleDocs
Operating Expenses; Utilities. Tenant shall have in addition to the Base Rent payable by Tenant under the provisions of hereof, Tenant shall pay to Landlord “Additional Rent” as hereinafter provided for in this Section 9. For purposes of this Section 9, the parties hereto agree upon the following Definitions:
Sample 1
Operating Expenses; Utilities. Personal property taxes (if any), installment payments of special assessment liens, fees, assessments and other charges under declarations, reciprocal easement agreements and similar instruments, sewer charges, utility charges and operating expenses actually paid or payable by Seller as of the Closing Date, even if not then due and payable (which shall include expenses under all Service Contracts which, even if terminated at or prior to Closing as provided in Section 5.4(a), continue by their terms for a period after Closing), shall be prorated as of the Closing Date based on the parties' respective period of ownership during the period for which such charges are billed and adjusted against the Purchase Price; provided, further, that within ninety (90) days after the Closing, Purchaser and Seller shall make a further adjustment for such expenses which may have accrued or been incurred prior to the Closing Date, but which were not billed or paid as of the Closing Date. If the consumption of any of the foregoing is measured by meters, then if possible and as an attempt to allocate and apportion effectively charges for such service, Seller shall attempt to obtain a reading of each such meter on the Closing Date and determine the usage of such service as of 11:59 P.M. Eastern Time, on the Closing Date and Seller shall pay all charges thereunder through the date of the meter readings. If there is no such meter or if a reading is not taken as of the Closing Date, or if the bills for any of the foregoing have not been issued on or before the date of the Closing, the charges therefor shall be adjusted at the Closing on the basis of charges for the prior period for which bills were issued and shall be further adjusted when the bills for the current period are issued. Seller and Purchaser shall cooperate to cause the transfer of the Asset's utility accounts from Seller to Purchaser, including the return to Seller of any deposits previously made by Seller (all of which deposits shall remain the property of Seller). All prorations of operating expenses (other than Taxes) made at Closing shall be final upon the expiration of the ninety (90) day adjustment period described in this Section 7.4(f) and there shall be no subsequent adjustment thereof.
Sample 1
Operating Expenses; Utilities. For the remainder of the Term and continuing through the Option Term, Subtenant shall continue to reimburse Sublandlord for all Operating Expenses and Utilities pursuant to Section 6(b) of the Second Amendment to Sublease Agreement.
Sample 1
Operating Expenses; Utilities. All amounts payable under any Contracts (to the extent assumed by Buyer and subject to the terms of Section 5C(2) hereof); annual permits and/or inspection fees (calculated on the basis of the period covered); and, subject to Section 6D(3), any other expenses of the operation and maintenance of the Property shall be prorated between Buyer and Seller, Seller being charged and credited for all of the same allocable to the period up to the Closing Date and Buyer being charged and credited for all of the same allocable to the period from and after the Closing Date. Notwithstanding any provision to the contrary, except for the credits provided pursuant to this Agreement, there shall be no proration made between Seller and Buyer pursuant to this Section with respect to the Architect Agreements, the Traffic Study Contract, the A&E SMA Contract, the County of Maui Roof Repair Contract or the Refresh Work Phase I Contract, and Buyer shall assume the obligation to pay all amounts due thereunder relating to work performed before, on or after the Closing. On or prior to Closing, Seller shall deliver to Buyer and Escrow Agent evidence of payment of work performed prior to Closing (to the extent invoiced and paid) together with all lien waivers and release obtained in connection therewith. To the extent work has been performed prior to Closing but not yet paid, Seller shall use reasonable efforts to obtain an invoice for such work together with lien waivers and releases for such work, and Seller shall pay such invoice at Closing pursuant to the Closing settlement statement. To the extent work has been performed prior to Closing but not yet paid, and Seller does not receive an invoice prior to Closing, Seller shall provide Buyer a reasonable description of the scope of work performed and payment due, and Buyer shall make such payment pursuant to the terms of the applicable contract from and after Closing.
Sample 1
Operating Expenses; Utilities. All operating expenses and gas service for heat are included in the rent. The Tenant shall pay for its own electrical service separately to the utility company.
Sample 1
Operating Expenses; Utilities. 6.1 The Fixed Base Rent provided for herein shall include all normal costs for maintaining and operating the Entire Premises. Hereinafter such costs shall be referred to as "Operating Expenses". Such Operating Expenses shall include: real estate taxes, building insurance, common area and Entire Premises maintenance, common area utilities and capital repairs required of Landlord.
Sample 1
AutoNDA by SimpleDocs
Operating Expenses; Utilities 
Sample 1Sample 2Sample 3

Related to Operating Expenses; Utilities

  • 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.

  • 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”).

  • 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:

  • 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.

  • 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.

  • Operating and Maintenance Expenses Subject to the provisions herein addressing the use of facilities by others, and except for operations and maintenance expenses associated with modifications made for providing interconnection or transmission service to a third party and such third party pays for such expenses, the Interconnection Customer shall be responsible for all reasonable expenses including overheads, associated with: (1) owning, operating, maintaining, repairing, and replacing the Interconnection Customer’s Interconnection Facilities; and (2) operation, maintenance, repair and replacement of the Participating TO’s Interconnection Facilities.

  • 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.

  • 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.

  • Exclusions from Operating Expenses Operating Expenses exclude the following expenditures:

  • Tax Expenses Tenant shall pay to Landlord Tenant’s Share of all Tax Expenses applicable to the Project. Prior to delinquency, Tenant shall pay any and all taxes and assessments levied upon Tenant’s Property (defined below in Section 10) located or installed in or about the Premises by, or on behalf of Tenant. To the extent any such taxes or assessments are not separately assessed or billed to Tenant, then Tenant shall pay the amount thereof as invoiced by Landlord. Tenant shall also reimburse and pay Landlord, as Additional Rent, within ten (10) days after demand therefor, one hundred percent (100%) of (i) any increase in real property taxes attributable to any and all Alterations (defined below in Section 10), Tenant Improvements, fixtures, equipment or other improvements of any kind whatsoever placed in, on or about the Premises for the benefit of, at the request of, or by Tenant, and (ii) taxes and assessments levied or assessed upon or with respect to the possession, operation, use or occupancy by Tenant of the Premises or any other portion of the Project. “Tax Expenses” means, without limitation, any form of tax and assessment (general, special, supplemental, ordinary or extraordinary), commercial rental tax, payments under any improvement bond or bonds, license fees, license tax, business license fee, rental tax, transaction tax or levy imposed by any authority having the direct or indirect power of tax (including any governmental, school, agricultural, lighting or other improvement district) as against any legal or equitable interest of Landlord in the Premises, Project or Park or any other tax, fee, or excise, however described, including, but not limited to, any tax resulting from the recordation of any parcel or subdivision map with respect to the Park and/or any tax imposed in substitution (partially or totally) of any tax previously included within the definition of Tax Expenses. “Tax Expenses” shall not include (a) any franchise, estate, inheritance, net income, or excess profits tax imposed upon Landlord, (b) any penalty or fee imposed solely as a result of Landlord’s failure to pay Tax Expenses when due, and (c) any items included as Operating Expenses. In the event that a parcel or subdivision map with respect to the Park or a portion of the Park is recorded by Landlord, Tenant’s Share of Tax Expenses shall be commensurately revised to reflect any increases or decreases that may result from the impact of such parcel or subdivision map.

Time is Money Join Law Insider Premium to draft better contracts faster.