CEL Charges definition
CEL Charges means (a) all costs, expenses, fines, penalties or other similar charges payable by Landlord under or to comply with the “annual building emissions limit” as defined in the Carbon Emissions Law and attributable to the Building, and (b) amounts paid to purchase renewable energy credits and/or “greenhouse gas offsets” (collectively, “CEL Credits”) in order to reduce the amounts that would otherwise be payable under clause (a); provided, that CEL Charges shall not include Excluded CEL Charges.
CEL Charges means (x) all costs, expenses, fines, penalties or other similar charges payable by Landlord under or to comply with the Carbon Emissions Law and attributable to the Building, and (y) amounts paid to purchase renewable energy credits and/or “greenhouse gas offsets” in order to reduce the amounts that would otherwise be payable under clause (x); provided, that CEL Charges shall not include (A) any costs, expenses, fines, penalties or similar charges paid by Landlord (including, without limitation, in connection with any penalties or charges levied upon the Building under the Carbon Emissions Law or otherwise) directly or indirectly arising from, or attributable to, (i) any failure of Landlord to duly meet any reporting, improvements, installation and/or any other obligations under the Carbon Emissions Law applicable to the Building or (ii) Landlord’s failure to operate and maintain any Building systems in accordance with the standards from time to time prevailing with respect to comparable office buildings in midtown Manhattan, or (B) any capital expenditures incurred by Landlord in order to comply with Carbon Emissions Law (provided that the same shall be included in Operating Expenses as set forth in the last grammatical paragraph of Section 3.1(A)).
CEL Charges means (a) all costs, expenses, fines, penalties (except for penalties resulting from ▇▇▇▇▇▇▇▇’s failure to file a report with the Buildings Department) or other charges payable by Landlord from time to time under the Carbon Emissions Law to the Buildings Department or other applicable governmental authority attributable solely to the Building’s electrical energy consumption and/or (b) any amounts paid to purchase renewable energy credits and/or “greenhouse gas offsets” attributable solely to the Building’s electrical energy consumption in order to reduce the amounts that would otherwise be payable under clause (a) during such period. (iii) “Tenant Baseline Energy Consumption” means, for each CEL Payment Year, all electricity used to operate the Demised Premises during Business Hours on Business Days, which, for purposes of this Lease, is deemed to be equal to the lesser of: (a) the product of (A) 6.0 ▇▇▇▇▇, multiplied by (B) the rentable square footage of the Demised Premises, multiplied by (C) the total annual Business Hours on Business Days that this Lease is in effect during such period, and (b) the cumulative electrical usage of Tenant at the Demised Premises during the first twelve (12) full calendar months following the Final Substantial Completion Date. (iv) “Tenant’s Excess Energy Consumption” means, for each CEL Payment Year, the excess of (A) the amount of electricity, expressed in kilowatt-hours, for such period, used to operate the Demised Premises during such time period as determined by ▇▇▇▇▇▇’s direct meters plus, if Tenant has requested Overtime HVAC service during such period, Tenant’s allocable share (as reasonably determined by Landlord based on the applicable electric meters or submeters measuring same and the tenants requesting Overtime HVAC during such period) of the electricity used to operate the base Building HVAC system to provide such Overtime HVAC service over (B) the Tenant Baseline Energy Consumption for such period. Landlord shall use the 52 conversion factors for utility electricity in the Carbon Emissions Law to convert Tenant’s Excess Energy Consumption to carbon emissions.