Shared Operating Expenses Sample Clauses

Shared Operating Expenses. ARTICLE IX
Sample 1
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Shared Operating Expenses. The aggregate of all reasonable and customary costs and expenses incurred on an accrual basis by Landlord in connection with the management, operation, maintenance, repair, cleaning safety and administration of the Building and Land not included in Office Operating Expenses and Retail Operating Expenses including Real Estate Taxes; exterminating services; detection and security services; sewer rents and charges; premiums for fire and casualty, liability, workmen's compensation, sprinkler, water damage and other insurance; building supplies; uniforms and dry cleaning; trash removal; snow removal; water and other public utilities; landscaping maintenance; management fees, whether or not paid to any Person having an interest in or under common ownership with Landlord; fees paid in connection with the challenge of any proposed assessment which would result in an increase in the Real Estate Taxes; provided, Landlord shall only pursue such challenges if it reasonably expects the resulting savings to exceed the cost of such challenge; purchase and installation of additional landscaping not included in the original landscaping plan for the Building and replacement or substitute landscaping. The cost of all repairs, replacements and improvements required to maintain the 14330rrk.6pl Building in a first class condition other than those (i) excluded under Section 1.21 of this Second Amendment; (ii) related to structural or building systems; or (iii) serving exclusively either the Office Space or Retail Space shall be treated as a Shared Operating Expense even if the cost would otherwise be classified as a capital expenditure under generally accepted principles. Refunds of Real Estate Taxes (reduced by Landlord's reasonable expenses in obtaining such refunds); recoveries of water, sewer or other utility charges separately metered or submetered and collected by Landlord; and (to the extent that Shared Operating Expenses include the cost of any repair or reconstruction work) the amount of any insurance recoveries (net of the costs of collection) all determined on an accrual basis shall be credited against the Shared Operating Expenses in computing the amount thereof.
Sample 1
Shared Operating Expenses. As used in this Lease, "Shared Operating Expenses" shall mean all Operating Expenses other than Retail Operating Expenses and Office Operating Expenses.
Sample 1
Shared Operating Expenses. 5, Tenant agrees to pay, from and after the commencement date, :as additional rent, Tenant's pro- rata share, as defined below, of the operating expenses, as defined below, for the Building, Land and Project, if applicable, of which the premises are a part. In relation thereto, Landlord shall at its option, either (i) invoice Tenant for its pro rata share of such operating expenses on or before one hundred twenty (120) days following the close of each calendar year during the term hereof in which event Tenant shall pay the invoiced amount within thirty (30) days after delivery of such invoice or (ii) require Tenant to pay its prorata share of such operating expenses on a monthly basis, in advance, based upon estimated amounts. In the event Landlord elects to have Tenant pay its prorata share of operating expenses on a monthly basis based upon estimated amounts, Landlord shall, prior to, or within a reasonable time following the commencement date, give Tenant written notice of Landlord's estimate of the amount of Tenant's share of operating expenses payable per month for the period from the Commencement Date through the immediately following December, and Tenant shall pay Landlord such amounts on or before the first day of each such calendar month, Thereafter, during December of each, calendar year or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of its prorata share of operating expenses for the ensuing calendar year, and Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amount on or before the first day of each calendar month during each such calendar year. In the event Landlord's notice is not given in December, until the calendar month after such notice is delivered by Landlord, Tenant shall continue to pay Landlord monthly during the ensuing calendar year estimated payments equal to the amounts payable during the calendar year just ended. Upon receipt of any such post-December notice Tenant shall commence as of the immediately following calendar month and continue for the remainder of the calendar year, to pay Landlord monthly such new estimated payments and, if the monthly installment of the new estimate of such Tenant prorata share of operating expenses is greater than the monthly installment of the estimate for the previous calendar year, pay to Landlord within thirty (30) days of the receipt of such notice an amount equal to the difference of such monthly installment multiplied by the n...
Sample 1
Shared Operating Expenses. Shared Operating Expenses shall include all costs incurred by Landlord to pay taxes with respect to the Property and to manage, operate and maintain and make all necessary repairs m the "Common Areas," which shall mean all facilities within the Property, other than the One Xxxxx Drive and Eleven Xxxxx Drive buildings, that are provided by Landlord for the use of tenants of the Property, including, without limitation, the parking areas, sidewalks, landscaped areas, service areas, and trash disposal facilities. Shared Operating Expenses shall include without limitation costs of landscape maintenance and replacement; operation, repair and maintenance of concrete walkway curbs and parking areas; costs of electricity, gas, water and other utilities attributable to the Common Areas; and insurance premiums for any insurance with respect to the Common Areas.
Sample 1

Related to Shared Operating Expenses

  • Taxes and Operating Expenses All real estate taxes, charges and assessments affecting the Property (“Taxes”), all charges for water, electricity, sewer rental, gas, telephone, fuel oil and all other utilities (“Operating Expenses”), to the extent not paid directly by tenants, and all common area maintenance charges billed to tenants on an estimated basis (“CAM Charges”) shall be prorated on a per diem basis as of the date of Closing. Buyer shall be entitled to all income and responsible for all expenses for the period beginning at 12:01 a.m. (Central Time Zone (U.S.A.)) on the date of Closing, except as set forth herein. If any Taxes have not been finally assessed as of the date of Closing for the current fiscal year of the taxing authority, then the same shall be adjusted at Closing based upon the most recently issued bills therefor, and shall be re-adjusted when and if final bills are issued. If any Operating Expenses or CAM Charges cannot conclusively be determined as of the date of Closing, then the same shall be adjusted at Closing based upon the most recently issued bills thus far, and readjusted within 120 days after the end of the calendar year in which the Closing occurs or as soon thereafter as final adjustment figures are available. Buyer hereby agrees to assume all non-delinquent assessments affecting the Property, whether special or general, subject to proration on a per diem basis as of the Closing Date. If Seller is presently prosecuting tax abatement proceedings, after the Closing, Seller shall continue to be authorized to prosecute such proceedings, and shall be entitled to its pro rata share of any such abatement proceeds. Buyer agrees after the Closing, to the extent reasonably necessary for Seller to continue to prosecute such proceedings, to reasonably cooperate with Seller, to pay its pro rata share of any costs attributable to such proceedings and also agrees to promptly endorse or pay over to Seller any abatement amounts for such years received by Buyer, less applicable costs incurred by Buyer. To the extent that such refunds are paid to Seller and are due to tenants, Seller does hereby covenant and agree that it shall, upon receipt thereof, reimburse tenants for their applicable share of such refunds. Notwithstanding anything to the contrary contained herein, all reimbursable expenses shall be reconciled at Closing, such that if Seller has collected sums in excess of its reimbursable expenses under the Leases, Seller shall pay such excess to Buyer. In the event that such reconciliation shows that Seller has collected less than its incurred reimbursable expenses under the Leases, Buyer shall remit the shortfall to Seller, when and to the extent actually collected from tenants (with such collections applied first to amounts due with respect to the month in which Closing occurs, and then to any amounts due Buyer with respect to the period of time following the Closing, and then to Seller with respect to any amounts due to Seller with respect to the period of time prior to the Closing) not later than the expiration of one hundred twenty (120) days after the calendar year in which the Closing occurs with respect to the budgeting of such expenses under the Leases.

  • 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”).

  • Ordinary Operating Expenses For purposes of this Agreement, Ordinary Operating Expenses means all expenses of the Funds other than extraordinary expenses, such as litigation, taxes and brokerage commissions.

  • 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.

  • 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 Expenses During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

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

  • 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 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.

  • 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 14.

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