Examples of Base Year Expenses in a sentence
Further, if the Building is less than 90% occupied in any year during the Term, including the Base Year, Expenses for such year may, at Landlord’s election, be adjusted to the amount such Expenses would have been if the Building had been 90% occupied.
The Annual Rent and Monthly Installment of Rent shall be adjusted pursuant to Article 4 of the Lease and Tenant shall pay during the Term Tenant’s Proportionate Share of the excess Expenses and Taxes over Base Year (Expenses) (calendar year 2010) and Base Year (Taxes) (calendar year 2010) respectively (subject to Section 4.2 of the Original Lease), together with all other charges and payments due under the Lease as therein set forth.
Expenses shall also include the amounts paid to subsidize the operation of any cafeterias or restaurants in Riverfront Office Park, however, if an amount for this item is included in the Base Year (Expenses) amount and subsequently during the Term the subsidy is reduced to below the amount included in the Base Year (Expenses) amount, the Base Year (Expenses) amount will be reduced accordingly.
If Landlord eliminates from any subsequent year Expenses a recurring category of Expenses previously included in Base Year Expenses, Landlord may subtract such category from Base Year Expenses commencing with such subsequent year.
Base Year Expenses shall not include market-wide cost increases (including utility rate increases) due to extraordinary circumstances, including, but not limited to, Force Majeure Events, boycotts, strikes, conservation surcharges, embargoes or shortages.