Definition of Base Year Expense Stop


Base Year Expense Stop means Tenant's Proportionate Share of the sum of the actual Operating Expenses and Taxes for the Base Year.
Sample 1

Examples of Base Year Expense Stop in a sentence

Tenant shall have a 1997 Base Year Expense Stop (Landlord to pay said expense stop amount) calculated for the "Expanded Area", which area is comprised of956 net rentable square feet, with all other terms and conditions of Paragraph 4.
The Operating Base Year Expense Stop for the Expansion Premises will be the calendar year of 2008.
After the first twelve (12) full calendar months of the Term, Landlord may give Tenant written notice of Landlords estimate of the amount (Estimated Operating Expenses) by which Tenants Pro Rata Share of actual Operating Expenses will exceed the Base Year Expense Stop, for the remaining calendar year (prorated for the remainder of such calendar year based on a 365 day year).
Additional Rent shall include, but not be limited to, Operating Expenses, Real Estate Taxes, costs of insurance incurred by Landlord (Landlords Insurance) and Utility Expenses in excess of the Base Year Expense Stop for these items, and any after-hours and all extraordinary costs of all utilities, maintenance repairs, taxes and services provided to the Premises, unless Tenant is billed for such utilities directly by the provider of such services.
This is a modified triple net lease with a Base Year Expense Stop of 2003.