Common Operating Expenses means the following:
Common Operating Expenses. The term "Common Operating Expenses" is defined in Paragraph 8.2.
Common Operating Expenses is defined in Section 8.2.
Examples of Common Operating Expenses in a sentence
Tenant's obligation to pay Base Monthly Rent and Tenant's Share of Common Operating Expenses shall be prorated at the commencement and expiration of the Lease Term.
Tenant’s obligation to pay Base Monthly Rent and Tenant’s Share of Common Operating Expenses shall be prorated at the commencement and expiration of the Lease Term.
Tenant shall have the right at its expense, exercisable upon reasonable prior written notice to Landlord, to inspect at Landlord's office during normal business hours Landlord's books and records as they relate to Common Operating Expenses.
Tenant shall have the right at its expense, exercisable upon reasonable prior written notice to Landlord, to inspect at Landlord’s office during normal business hours Landlord’s books and records as they relate to Common Operating Expenses.
Tenant shall pay such share of the actual Common Operating Expenses incurred or paid by Landlord but not theretofore billed to Tenant within 10 days after receipt of a written xxxx therefor from Landlord, on such periodic basis as Landlord shall designate, but in no event more frequently than once a month.
More Definitions of Common Operating Expenses
Common Operating Expenses means the total amounts paid or payable, whether by Landlord or others on behalf of Landlord, in connection with the ownership, maintenance, repair, and operations of the Building, the Common Areas and the Project, including without limitation, the following:
Common Operating Expenses shall not include any of the following: (i) mortgage principle payments; (ii) ground rent and other payments made pursuant to any ground lease affecting the Property; (iii) the cost of refinancing any loan Secured by the Property; (iv) interest and penalties imposed against Landlord for late payments by Landlord; (v) legal fees incurred by Landlord in connection with the negotiation or enforcement of, or litigation in connection with, any lease affecting the Property; (vi) the cost of any paintings, sculptures, or other art objects installed on the Property; (vii) any costs reimbursed to Landlord by insurance or other third party payments that are not reimbursements by tenants for their share of Common Operating Expenses; (viii) brokerage commissions or other costs related to the leasing of space within the Property; (ix) the cost of any tenant improvements installed for the exclusive use of any other tenant of the Property.
Common Operating Expenses is defined in 8.2.
Common Operating Expenses. The Term "Common Operating Expenses" is defined in 8.2.
Common Operating Expenses is defined in ¶8.2.
Common Operating Expenses shall consist of all “operating costs” (as hereinafter defined) for the Property. For purposes of this Lease, the term “operating costs” shall mean all expenses, costs and disbursements, subject to the exclusions set forth in Section 3.3.13 hereof, relating to or incurred or paid in connection with the ownership, operation, maintenance and repair of the Property, computed in accordance with generally accepted accounting principles, consistently applied, including, but not limited to, the following:
Common Operating Expenses or that Landlord has erred in calculating same, Tenant shall have the right to audit Landlord’s books and records in accordance with this paragraph. Tenant shall exercise such audit right by providing Landlord with a written notice of Tenant’s exercise of such audit right within such 90-day period and a statement enumerating reasonably detailed reasons for Tenant’s objections to the Statement issued by Landlord (the “Audit Notice”). Upon the receipt by Landlord of an Audit Notice, Landlord shall instruct its property manager at the Building to meet with a designated employee of Tenant (the “Tenant Representative”) to discuss the objections set forth in the Audit Notice. Landlord shall provide the Tenant Representative with reasonable access to Landlord’s books and records at the Building relating to Common Operating Expenses for the calendar year in question in order to attempt to resolve the issues raised by Tenant in the Audit Notice. If, within thirty (30) days after Landlord’s receipt of the Audit Notice, Landlord and Tenant are unable to resolve Tenant’s objections, then not later than fifteen (15) days after the expiration of such 30-day period, Tenant shall notify Landlord if Tenant wishes to employ an independent, reputable certified public accounting firm charging for its services on an hourly rate (and not a contingent fee) basis (“Acceptable Accountants”) to inspect and audit Landlord’s books and records for the Building relating to the objections raised in Tenant’s statement. Such audit shall be limited to a determination of whether or not Landlord calculated the Common Operating Expenses in accordance with the terms and conditions of this Lease and normal and customary accounting methods used by owners of similar buildings in the area for calculating Tenant’s Common Operating Expense increase. All costs and expenses of any such audit shall be paid by Tenant. Any audit performed pursuant to the terms of this section shall be conducted only by the Acceptable Accountants at the offices of Landlord’s property manager at the Building. If Landlord has overcharged Tenant for Tenant’s Proportionate Share of the Common Operating Expense increase for any year, Landlord shall pay the amount of such overpayment to Tenant. If Common Operating Expenses are overstated by more than ten percent (10%), then Landlord agrees to pay the reasonable costs of such audit, not to exceed the lesser of Two Thousand and No/100 Dollars ($2,000.00) per audit or the amount o...