Common Area Operating Costs means, with respect to the Common Area, all costs and esxpenses paid or incurred by Landlord at its election in connection with: sweeping, cleaning, maintaining, restriping and repairing; lighting (including replacement of bulbs and ballasts, and painting, repairing and maintaining of light standards); providing project identification signs; providing signs and/or personnel for assisting in traffic control and management; constructing, operating, repairing and maintaining any necessary on-site or off-site utilities; providing and maintaining planting and landscaping; providing security services (if any) with respect to the Common Area; utilities charges; repairing and maintaining the roof of the Leased Premises and the building of which they are a part (including repairs to provide for adequate drainage); repairing and maintaining the structural portions of the Leased Premises and the building of which they are a part and utility lines which do not exclusively serve one tenant; overhead canopies; sprinklers and sprinkler risers, sidewalks (including steam cleaning); costs incurred by Landlord in providing with trash removal services for Tenant and other tenants and occupants of the Shopping Center (to the extent that Landlord elects to provide such services); exterminating and pest control in and about the Leased Premises and Shopping Center; periodic repainting and repairs of exterior walls, fascias and parapets of the buildings in the Shopping Center; plus all other costs and expenses relative to operating and managing the Common Area including, without limitation, subdivision maintenance fees or dues, property owners association fees or dues and similar charges, reasonable annual charges for reserves ("Capital Reserve") established by Landlord for future replacements or improvements to the Common Area; plus a reasonable management fee based on Landlord's gross revenues of the Shopping Center calculated in accordance with generally accepted accounting principles. In no event will annual charges for the Capital Reserve exceed fifteen percent (15%) of the aggregate of other Common Area Operating Costs. Any "Capital Item" (which is defined as any single item of repair or improvements costing more than $10,000.00 and ordinarily capitalized under generally accepted accounting principles, consistently applied) shall be charged against the Capital Reserve and not otherwise included in Common Area Operating Costs. To the extent that the Capital Reserve should ev...
Common Area Operating Costs is defined in Section 5.4.
Common Area Operating Costs means all costs and expenses of every kind and nature incurred by Landlord pursuant to the REA for owning, operating, maintaining, managing, equipping, insuring, securing, repairing, replacing, restoring and making improvements to the Common Area, including, but in no way limited to, the following (which are for broad general illustration purposes only):
Examples of Common Area Operating Costs in a sentence
Landlord shall xxxx Tenant for Tenant’s Proportionate Share of the cost of such normal repairs and maintenance as apart of the Common Area Operating Costs.
Failure of the Landlord to render any Specific Operating Costs and Common Area Operating Costs Statement shall not prejudice the Landlord’s right to render such Specific Operating Costs and Common Area Operating Costs Statement thereafter or with respect to any other financial period.
Within 120 days from the date when all information necessary to calculate actual Specific Operating Costs and Common Area Operating Costs becomes available after the end of each Lease Year, the Landlord will provide the Tenant with a statement of actual Operating Costs (the "Specific Operating Costs and Common Area Operating Costs Statement") in reasonable detail including the Tenant's Proportionate Share of Specific Operating Costs and Common Area Operating Costs for the applicable Lease Year.
Payment of Common Area Operating Costs as invoiced shall be paid to the Town within 30 days following issuance of invoices to each Service Operator and, in default of payment, interest on each Service Operator's share of Common Area Operating Costs shall be due and payable at a rate of interest equal to the Xxxxx Xxxx, Xxxx Xxxxxx, Xxxxxxx, Xxxxxxx, prime lending rate plus 3% per annum.
Prior to October 31 in each Lease Year, the Landlord will estimate and allocate and may, during a Lease Year, re‐estimate or re‐allocate Operating Costs for the ensuing Lease Year on a reasonable basis and will notify the Tenant of the amount of the Specific Operating Costs and Common Area Operating Costs.
More Definitions of Common Area Operating Costs
Common Area Operating Costs shall include the total cost and expense incurred by Landlord in operating, lighting, striping, maintaining, cleaning, landscaping, repairing (including replacement and resurfacing) managing, signing, equipping and insuring the Common Areas within Lot Nos. 46.24 and 46.25 plus ten (10%) percent of the foregoing costs to cover Landlord's administrative and overhead costs. Such costs and expenses shall include, without limitation: cleaning; fire and police protection and general security (Landlord not incurring or assuming any obligation to provide such protection or security or any liability for the failure of the same); repairing and replacing paving; keeping the Common Areas supervised, drained, reasonably free of snow, ice, rubbish and other obstructions, and in a neat, clean, orderly and sanitary condition; the charges for rubbish containers and removal (except that at Landlord's option, Tenant shall be directly responsible for contracting for and for providing (subject to Landlord's approval of the provisions and conditions of the agreement therefor, such approval not to be unreasonably withheld or delayed) rubbish containers and removal); the maintenance of any and all fire protection systems servicing Lot Nos. 46.24 and 46.25; the cost of public liability insurance; keeping the Common Areas suitably lighted; maintaining signs (other than Tenant's signs), markers, painted lines delineating parking spaces, and o t her means and methods of pedestrian and vehicular traffic control; constructing, maintaining and repairing of onsite and offsite traffic controls; maintaining adequate roadways, entrances and exits; maintaining any plantings and landscaped areas; Lot Nos. 46.24 and 46.25 management fees incurred by Landlord, including management fees payable to parties or entities owned or controlled by Landlord or any of them; maintenance and repair of all utilities, utility conduits and storm drainage systems situated within or servicing Lot Nos. 46.24 and 46.25; fees for required licenses and permits; and depreciation of machinery and equipment used in the operation and maintenance of the Common Areas (to the extent the cost thereof is amortized with respect to the year in question) and personal property taxes and other charges incurred in connection with such equipment. Notwithstanding anything to the contrary contained in this Lease, Common Area Operating Costs shall expressly exclude: (a) the cost of any repairs made by Landlord because of the occurrenc...
Common Area Operating Costs shall include the total costs and expenses actually incurred by LL in maintaining, managing and operating the Common Areas in a first class manner. (Lease, 3.4)
Common Area Operating Costs means the total costs and expense (other than the cost properly chargeable to capital account except as herein specifically provided) incurred in operating, managing (including property management fees), maintaining, repairing, relocating, modifying, renovating and replacing the common facilities hereinafter defined, including without limitation the costs of maintaining roof, walls, foundations, detention ponds, porches, sprinkler system, irrigation system, fire system, utility lines and resurfacing or patching the parking areas and labor associated with line painting, sidewalks and curbs, security and traffic control, ID signage, security alarm systems, public liability and umbrella insurance, gardening, watering and landscaping, lighting, maintenance of sanitary control, all costs for utilities to common areas, removal of snow, ice, drainage, rubbish, and other refuse, costs to remedy and/or comply with governmental and/or environmental and hazardous materials laws, regulations, ordinances or rules, repair or installation of equipment for energy‑saving or safety purposes, reserves for future maintenance and repair work (which Tenant hereby authorizes Landlord to use as necessary), any costs associated with any merchants’ association for the Shopping Center, depreciation on equipment and machinery used in maintenance, cost of personnel required to provide such services, all costs and expenses associated with Landlord’s obligation to repair and maintain the areas described in the agreement (if any), and such other items of cost and expense which are relatable to proper maintenance of the common facilities, plus ten percent (10%) of all of the foregoing costs to cover administrative cost relative to the common facilities.
Common Area Operating Costs shall include the total cost and expense incurred by Landlord in operating, lighting, striping, maintaining, cleaning, landscaping, repairing (including replacement and resurfacing) managing, signing, equipping and insuring the Common Areas within Lot Nos. 46.24 and 46.25 plus ten (10%) percent of the foregoing costs to cover Landlord's administrative and overhead costs. Such costs and expenses shall include, without limitation (including appropriate reserves): cleaning; fire and police protection and general security (Landlord not incurring or assuming any obligation to provide such protection or security or any liability for the failure of the same);
Common Area Operating Costs means the total costs and expenses incurred by Landlord in operating, maintaining, managing, repairing and replacing the Common Area and the Center. There shall be excluded from Common Area Operating Costs the original costs of constructing the Common Area and the Center, including any portions of the Common Area or the Center constructed subsequent to the date of this Lease; however, Common Area Operating Costs shall include, if any, the annual amortization (over the useful life) of a capital improvement falling within any of the following categories: (i) a labor saving device or improvement which is intended to reduce or eliminate any component of Common Area Operating Costs; (ii) an installation or improvement required by reason of any law, ordinance or regulation which is generally applicable to similar office centers; and (iii) an installation or improvement which directly enhances safety or comfort of Tenants in the Common Area or the Center generally.
Common Area Operating Costs means all reasonable costs and expenses incurred or payable by Landlord in operating and maintaining the Common Areas (defined later) as may be reasonable, normal, and customary, but does not include costs or expenses excluded from Common Area Operating Costs elsewhere in this Lease, either expressly or impliedly. All Common Area Operating Costs shall be determined in accordance with generally accepted accounting principles, which shall be consistently applied. The Common Area Operating Costs shall be net and for that purpose shall be deemed reduced by the amount of any insurance reimbursement, other reimbursement, recoupment, payment, discount, credit, reduction, allowance, or the like received or receivable by the Landlord in connection with such Common Area Operating Costs.
Common Area Operating Costs means the sum of all expenses paid or incurred by Landlord in connection with the operation, maintenance, repair, alteration and periodic replacement of any part or portion of the improvements maintained by Landlord in the Common Areas (that are not paid directly by, or separately metered or otherwise chargeable to, individual tenants), during the calendar year (the “Calendar Year”\ including, without limitation, the Common Area Operating Costs allocable to the Premises pursuant to the REA. Without limiting the generality of the foregoing, the Common Area Operating Costs shall include: