CAM Charges definition
CAM Charges means common area maintenance charges, and shall be @10% of the applicable Space Rent for the area under their occupation.
CAM Charges means the proportionate share of common area maintenance and service charges to be paid by the Purchasers inter alia for the maintenance of the Unit/Building/Property, costs of insurances and supervisory expenses but shall not include property taxes payable in respect of the various units but will include property taxes payable for the common parts and portions. The proportionate amount agreed to be paid by the Purchasers on account of the service and maintenance charges shall be determined by the Developer and/or Seller and/or the Association in their absolute discretion.
CAM Charges. As used in this Lease, the term “CAM Charges” shall mean all reasonable third party expenses incurred by Landlord in providing Project Services, for ad valorem real property taxes and assessments levied against the Leased Premises and the Building by governmental authority, for the share of any assessments levied against the Building or the Leased Premises pursuant to any recorded instrument or otherwise applicable to the Project but only as to the amount thereof allocable to the Leased Premises or the Building and for any insurance premiums Landlord is required to pay with respect to the Building or Leased Premises pursuant to this Lease. Notwithstanding anything contained herein to the contrary, CAM Charges shall exclude or have deducted from them, the expenses listed on Exhibit F, attached hereto and made a part hereof. Prior to the beginning of each calendar year, and from time to time thereafter, Landlord shall deliver to Tenant its estimate of the CAM Charges to be incurred during the next calendar year. Landlord may adjust the estimate from time to time during the year to which it relates. On the first day of each month during the Lease Term, Tenant shall pay to Landlord, as additional rent, without offset or deduction, an amount equal to one-twelfth (1/12) of the estimated annual CAM Charges as calculated by Landlord. Within ninety (90) days following the end of each calendar year, Landlord shall furnish to Tenant a statement showing the total actual CAM Charges for the calendar year just expired and payments made by Tenant during such calendar year. If the actual CAM Charges for such calendar year exceed the aggregate of Tenant’s monthly payments made during the calendar year just expired, Tenant shall pay to Landlord the deficiency within thirty (30) days after receipt of said statement. If Tenant’s payments exceed the actual CAM Charges as shown on such statement, Landlord shall pay to Tenant the overage within thirty (30) days after receipt of said statement. Promptly following the delivery by Landlord to Tenant of the aforementioned statement, the estimated CAM Charges shall be adjusted accordingly for the ensuing calendar year. Upon computation of the CAM Charges and the corresponding adjustment of the estimated CAM Charges for the current calendar year and the communication of that adjustment by Landlord to Tenant, Tenant shall pay, with the monthly installment of Base Rent and the adjusted amount of CAM Charges next due following communicat...
Examples of CAM Charges in a sentence
As used herein, the term “CAM Lease Year” means the twelve (12) month period as to which annual CAM Charges are owed under each Lease.
As used herein, the term “CAM Lease Year” means the twelve (12) month period as to which annual CAM Charges are owed under each Tenant Lease.
Seller shall be responsible for the CAM Charges reconciliation on a lease-by-lease basis for their ownership period within the CAM Lease Year up to, but not including, the Closing Date.
Any terms and conditions varying from the Agreement (including the Transaction Documents and the Supplement and Schedules thereto) on any order or written notification from either Party or its Affiliates shall not be effective or binding on the other Party or its Affiliates.
Each party will be responsible for any CAM Charges “true up” necessary to the extent that any Tenant Lease provides for a “true up”.
More Definitions of CAM Charges
CAM Charges. Means the amount of the CAM that is required to be paid to the Developer by every tenant and property owner in the Property.
CAM Charges means the maintenance charges payable by the Purchaser inter alia for the maintenance of the Common Areas and Amenities of Project and other common areas of the said Property and for the provision of common amenities and facilities available to the Purchaser in the Project/said Property.
CAM Charges shall have the meaning ascribed thereto in SECTION 4.8.2 hereof.
CAM Charges shall include the costs incurred for operation, maintenance and repair of the common areas existing at the Property, and for the replacement of its component parts and structural elements, including but not limited to the structural elements of the Buildings located on the Land; the electrical, gas, sprinkler, plumbing, drainage, water, sewage and HVAC systems which serve the Property or Buildings in common with other tenants or space in the Property (including, without limitation, the Common Building Utility Systems; all areas exterior to the Leased Premises, including but not limited to entrances, exits, passageways, sidewalks, driveways, parking areas, lighting facilities, landscaped areas and utility lines; together with the cost of cleaning, painting, striping, and adequate illumination for such elements of the Property; except that (i) any expense included as a Common Outside Area Expense, (ii) any expense which, under any other provision of this Lease, is to be borne entirely by Tenant, (iii) any expense of maintaining, repairing, replacing or renewing the roof, exterior walls (other than walls which are common to the Leased Premises and other parts of the Building), foundation, floors, windows and glass in the Buildings, (iv) any expense of maintaining, repairing, replacing or renewing any electric, plumbing, gas, heating, ventilating, air conditioning, sprinkler, drainage or other equipment and utility systems which exclusively serve only parts of the Buildings other than the Leased Premises and (v) any electric, gas or water charges which are paid by Tenant under Section 4.9 hereof, shall not be included in CAM Charges. Such CAM Charges (insofar as they are for replacements of a major capital structural item (the "Structural Replacements")) shall be fully included in CAM Charges when incurred. Upon termination (other than as a result of (i) a default of Tenant or (ii) a termination in connection with a substitution of a subtenant in accordance with Section 3.2 hereof) of this Lease, Landlord shall reimburse Tenant for the Tenant's Pro Rata Share of the unamortized cost of such Structural Replacement item (to the extent theretofore paid by Tenant as a CAM Charge hereunder) in an amount equal to the remaining number of full years of the useful life of the Structural Replacement (as of the date of such expiration of the Lease) as apportioned at the time the structural replacement was made, multiplied by the Annualized Cost of the Improvement (as sai...
CAM Charges is defined in Section 5.5(b).
CAM Charges. As used herein, the term "Common Building Utility Systems" shall mean the portion of any and all utility lines and systems and drain lines serving the Buildings and/or the Leased Premises, including, but not limited to, gas, water, sewer and electric lines, from the point where they enter or leave the Leased Premises to the point outside the Buildings where the applicable utility company assumes control of such line, together with (i) the water tank located outside the Buildings which serve the sprinkler system, (ii) the gas storage shed located outside the Buildings, (iii) the drain lines and systems outside the Buildings and (iv) any and all utility lines and drain lines located within the Leased Premises which are below the slab.
CAM Charges shall have the meaning ascribed to it in Clause 15.5.