Building Expenditure definition
Building Expenditure means the aggregate of:-
(i) all costs fees expenses and outgoings whatsoever (whether or not of a recurring nature) incurred in respect of or incidental to the provision of all or any of:-
(1) the Building Services and
(2) the costs and expenses set out in Part B of the Seventh Schedule (whether or not the Landlord or the Management Company is obliged by this Lease to incur the same) and (when any expenditure is incurred in relation to the Building and other premises) the proportion of such expenditure which is reasonably attributable to the Building as determined from time to time by the Building Surveyor
(ii) such sums as the Management Company shall consider desirable to set aside from time to time (which setting aside shall be deemed to be an item of expenditure actually incurred) for the purpose of providing for periodically recurring items of expenditure, whether or not of a capital nature and whether recurring at regular or irregular intervals and for anticipated expenditure in respect of any of the Building Services to be provided or other items within Part B of the Seventh Schedule (the "Building Reserve Fund")
(iii) the cost of replacement of any item where such replacement is reasonably necessary whether or not the replacement item is of a superior quality design or utility to the item being replaced
(iv) interest payments credited to the Tenant under Clause 9.5(b) and credited or paid to any tenants of premises within the Building under the provisions of clauses similar to the said Clause
(v) any Value Added Tax or other tax payable on or in connection with any such items in paragraphs (i) (ii) (iii) and (iv) above (so far as not recoverable by the Management Company as an input credit) but shall exclude:-
Building Expenditure means the sum calculated pursuant to Clause 8.2
Examples of Building Expenditure in a sentence
Each Project Specific IPP Capacity Building Expenditure Proposal shall be a Cash Allowance Expenditure Proposal for the purpose of DPA Section 13.4 and the provisions of DPA Section 13.4(b)(ii) shall apply to each Project Specific IPP Capacity Building Expenditure Proposal.
As soon as practicable after the end of each Landlord's Account Year the Landlord shall deliver to the Tenant a statement showing in reasonable detail the Centre Expenditure and the Building Expenditure for such year and showing the Tenant's Proportion of such Expenditure shown by such statement shall exceed the Basic Service Charge paid in respect of such Landlord's Account Year the Tenant shall immediately pay to the Landlord the amount of such excess.