Building Management Fee definition

Building Management Fee means an amount equal to One Hundred Seventy Seven Thousand Three Hundred Ninety Eight And 50/100ths Dollars ($177,398.50) during the 2013 Lease Year for Operating Expenses, which amount shall be annually increased by three percent (3%) per annum commencing on January 1, 2014 and continuing on the first day of each Lease Year for Operating Expenses occurring under the term thereafter. As used herein, the term “Administrative Cost Allocation” shall mean an amount equal to the lesser of (AA) forty-one and one hundred nine thousandths percent (41.109%) of the difference of (x) the amount of Lessor’s Administrative Costs (as defined hereinafter) minus (y) the amount of Lessor’s Administrative Costs Allocable to the Exterior Common Areas (as defined hereinafter), or (BB) the Administrative Costs Cap. “Lessor’s Administrative Costs” shall mean the aggregate amount incurred by Lessor in a Lease Year for Operating Expenses with respect to the following categories of administrative costs and expenses: (I) wages, salaries, payroll taxes and other labor costs and employee benefits; (II) depreciation of office furniture and office equipment owned and used by Lessor in the operation of Levi’s Plaza; (III) the commercially reasonable rental paid for reasonable office space for the property manager and related management and operations personnel responsible for the management of Levi’s Plaza, or if rental is not paid, the fair rental value of any such space provided for such purposes, including, in each case, the utilities expenses associated therewith, and (IV) office supplies, postage, courier costs, reproduction costs and other customary supply costs associated with the operation of a property management office. “Lessor’s Administrative Costs Allocable to the Exterior Common Areas” shall mean the portion of Lessor’s Administrative Costs that have been allocated to the Exterior Common Areas in Lessor’s annual audit of the Operating Expenses applicable to the Levi’s Plaza. “Administrative Costs Cap” shall mean fifty seven percent (57%) multiplied by the actual amount of Lessor’s Administrative Costs allocated to the Building with respect to the Lease Year for Operating Expenses 2012, which amount shall be annually increased by three percent (3%) per annum commencing on January 1, 2013, and continuing on the first day of each Lease Year for Operating Expenses occurring under the term thereafter.
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Building Management Fee shall have the meaning set forth in Section 5.1.
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Examples of Building Management Fee in a sentence

  • Routine maintenance management services shall be provided as part of the Building Management Fee.

  • Price adjustments to the Building Management Fee will be based on the CPI as defined below: Property Manager may request price adjustments, in writing, 30 days prior to the contract renewal date.

  • Any decision to provide required services through means other than use of Service Contractors, except for those services included in the Basic Building Management Fee, must have the prior written approval of Owner.

  • The Building Management Fee is defined as the annual fixed fee payable by Owner to General Contractor as full and complete compensation for all required management services to be provided by General Contractor under this, and includes all related indirect costs.

  • When a situation arises and you need to end a lease early, promptly after receipt, the Building Management Fee shall be negotiated in good faith and formalized in a written contract amendment issued by the rocurement fficer of cord.

  • The Building Management Fee is defined as the monthly fixed fee payable by Owner to Property Manager as full and complete compensation for all required management services to be provided by Property Manager under this Agreement, and, includes all related indirect costs.

  • Party A agrees to pay Party B the Building Management Fee based on5% of the monthly rental (US$12,246.85) referred in above section 3.1 term.

  • All costs associated with performing the services required under this Agreement shall be included in the Building Management Fee with the exception of the costs related to additional services as assigned to Property Manager as described in Section 3.08.27-30 of this Agreement.

  • On signing of this Contract or upon the submission of fitting out plan to Party A and / or the MANAGEMENT COMPANY ( whichever is the earlier), Party B shall pay by cash, cashier's order or wire TRANSFER TO PARTY A A SUM EQUAL TO THREE (3) MONTHS' BUILDING MANAGEMENT PEE ( which shall include ALL MANAGEMENT FEE DEPOSITS ALREADY PAID ) as the Building Management Fee Deposit.

  • See Exhibit B, Compensation for the monthly and annual sum of the Building Management Fee payable by Owner to Property Manager.