Project Operating Expenses Sample Clauses

Project Operating Expenses. “Project Operating Expenses” shall include all reasonable and necessary expenses incurred by Landlord in the ownership, operation, maintenance, repair and management of the Project and/or the Common Area, including, but not limited to the following:
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Project Operating Expenses. Project Operating Expenses" shall include all reasonable and necessary expenses incurred by Landlord in the ownership, operation, maintenance, repair and management of the Project Common Area, including, without limitation, Real Property Taxes attributable to the Project Common Area; provided, however that all improvements or replacements made to or assets acquired for the Project after the Commencement Date that are reasonably expected to reduce Project Operating Expenses or are reasonably necessary for the health and safety of the occupants of the Project or required under any government of law or regulation, which costs, or an allocable portion thereof, shall be amortized over the period determined by Landlord, together with interest on the unamortized balance at the Applicable interest Rate actually paid to third party lenders, all in accordance with GAAP consistently applied.
Sample 1Sample 2
Project Operating Expenses. The term "Project Operating Expenses" shall mean the reasonable and actual operating expenses which are paid by Landlord in connection with only the Common Areas. The Project Operating Expenses shall be directly attributable to the operations, maintenance, management and repair of the Common Areas, as determined under generally accepted accounting principles, consistently applied, for the applicable period. Project Operating Expenses shall be the following: (A) Real Estate Taxes, as defined in Section 6.b.; (B) premiums for insurance; (C) wages, salaries and related expenses and benefits (including fringe benefits, payroll taxes, workers' compensation and uniforms) of on-site employees engaged in operation, maintenance and security; (D) the reasonable costs of repairs, replacements (amortized, as provided below) and general maintenance (excluding those which are the sole obligation of Landlord expressly so provided herein, those paid for by proceeds of insurance or other parties, and alterations attributable solely to tenants of the Buildings other than Tenant); (E) reasonable charges for steam, heat, ventilation, air conditioning, water, gas, electricity and other utilities used or consumed in the Common Areas; (F) the cost of supplies and equipment used in the operation and maintenance of the Project; (G) reasonable professional fees (E.G., fees of attorneys, auditors and other professionals and consultants) and association dues; (H) the cost of resurfacing and restriping the parking areas and janitorial and other cleaning costs and fees; (I) the cost of governmental licenses and permits, or renewals thereof, necessary for the operation of the Project; (J) the cost of capital improvements made to the Project either (1) for the intended purpose of reducing Project Operating Expenses (but only to the extent of the lesser of the amortized cost of the capital improvement or the actual cost savings resulting from the capital improvement) or (2) pursuant to a requirement of law, ordinance, order, rule or regulation of any governmental, quasi-governmental or public authority (a "Law") or a requirement of any insurance carrier or insurance rating organization or underwriting board, provided the Law or requirement is amended, enacted or promulgated after the Effective Date or (3) as set forth in Section 6.a(vi) hereof; and (K) all other reasonable and actual expenses paid in connection with the operation, maintenance, management and repair of the Common Areas. Th...
Sample 1
Project Operating Expenses. (a) Xxxxxxx shall oversee IDP Portugal’s payment of all Project Operating Expenses as per Article 10.2 of this Agreement.
Sample 1
Project Operating Expenses. Landlord shall maintain the Project Common Areas in good order, condition and repair and shall operate the Project, in Landlord’s reasonable discretion, as a first class industrial/commercial real property development. Tenant shall pay Tenant’s pro rata share (as defined below) of all costs reasonably incurred by Landlord generally in accordance with customary practices for similar projects in San Diego County for the operation and maintenance of the Project Common Areas (“Project Operating Expenses”). Project Operating Expenses include, but are not limited to, costs and expenses for the following: gardening and landscape maintenance; pest extermination services; utilities, water and sewage charges; maintenance of parking areas; fees, charges and other costs (including consulting, accounting and legal fees) reasonably necessary to manage the Project; costs of compliance with any and all governmental laws, ordinances, and regulations applicable to the Project; maintenance of signs (other than Tenant’s signs); premiums for liability, property damage, fire and other types of casualty insurance on the Project Common Areas and all Project Common Area improvements; all personal property taxes levied on or attributable to personal property used in connection with the Project Common Areas; rental or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Project Common Areas; fees for management and supervision of the Project and Common Areas (not to exceed five percent (5%) of the annual rent for the Project); fees for required licenses and permits; repairing, resurfacing, repaving, maintaining, painting, lighting, cleaning, refuse removal, security and similar items; and reserves (not to exceed five percent (5%) of all other Project Operating Expenses). Landlord may cause any or all of such services to be provided by third parties, or by entities associated with Landlord. Landlord may, at Landlord’s election, estimate in advance and charge to Tenant monthly as Project Operating Expenses, all real property taxes for which Tenant is liable under the Lease, all insurance premiums for which Tenant is liable under the Lease, and all maintenance and repair costs for which Tenant is liable under the Lease.
Sample 1
Project Operating Expenses. Project Operating Expenses are hereinafter defined as all costs and expenses associated with or in connection with the ownership, operation, management, maintenance and repair of the entire Building and Common Areas of the Project. Project Operating Expenses include (for illustration purposes only), but are not limited to, real property taxes and a property management fee in the amount of 3% of Lessor's monthly gross receipts from tenant(s) located at the Building. Project Operating Expenses that are specifically attributable to Lessee's Premises or to any other tenant's premises in the Building, shall be allocated entirely to Lessee's Premises or to any other tenant's premises, as applicable, in Lessor's reasonable discretion. During Lessee's occupancy of the Premises prior to March 31, 2000, Lessee occupied the entire Building and was responsible for paying all Project Operating Expenses. From and after April 1, 2000, Lessee is responsible for and shall reimburse Lessor for Lessee's Share of all Project Operating Expenses. On or before October 31, 2000, Lessor and Lessee agree to provide each other details of amounts that have been incurred and or paid relating to Project Operating Expenses for the period April 1, 2000, through October 31, 2000. Lessor shall equitably reconcile such amounts, and Lessor and Lessee agree to pay any amounts owed between the parties. After October 31, 2000, if either party identifies additional Project Operating Expenses that should have been included in the aforementioned reconciliation, such additional expenses must be communicated in writing to the other party no later than December 31, 2000, for a final reconciliation of amounts owing between the parties for the period prior to October 31, 2000. From and after April 1, 2000, Lessee shall not be required to directly obtain earthquake insurance. If Lessor is required by Lessor's lender to obtain earthquake insurance, such insurance shall be purchased by Lessor and Lessee shall reimburse to Lessor Lessee's pro rata share of the cost as part of Project Operating Expenses. From and after April 1, 2000, Lessor shall procure and maintain, subject to reimbursement by Lessee as part of Project Operating Expenses, a heating, ventilation and air conditioning system maintenance contract acceptable to Lessor in its reasonable discretion. Beginning November 1, 2000, Lessee's Share of Project Operating Expenses shall be payable by Lessee to Lessor within 10 days after a reasonably deta...
Sample 1
Project Operating Expenses. All Common Area Operating Costs as assessed by the REA Managing Agent under and in accordance with the terms of the REA including the following costs by way of illustration but not limitation:
Sample 1
AutoNDA by SimpleDocs
Project Operating Expenses. Xxxx/Mira Mesa industrial Park Association, a California non-profit corporation; police and fire protection services; depreciation and maintenance on operating machinery and equipment used in the maintenance and repair of the Common Areas (if owned) and rental paid for such machinery and equipment used in the maintenance and repair of the Common Areas (if rented); rental for electric and service rooms based upon the average rate in the Project; any parking charges, surcharges or any other costs levied or assessed by local, state or federal government agencies in connection with the use of parking facilities; property management costs; the cost of maintaining and operating the Common Area Facilities (as hereafter defined), including without limitation all utility expenses and salaries of all personnel employed by Landlord in the Common Area Facilities. Such costs and expenses shall not include any allowance for depreciation of the Common Area Facilities or other improvements located in the Common Areas. Landlord may cause any or all of the services described above to be provided by an independent contractor or contractors.
Sample 1
Project Operating Expenses. [INTENTIONALLY OMITTED]
Sample 1

Related to Project Operating Expenses

  • 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 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”).

  • 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 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.

  • Rent and Operating Expenses Section 4.1 Basic Rent Section 4.2 Operating Expenses Section 4.3

  • Common Area Expenses In the event the demised premises are situated in a shopping center or in a commercial building in which there are common areas, Lessee agrees to pay his pro-rata share of maintenance, taxes, and insurance for the common area.

  • 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.

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

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