Controllable Expense definition

Controllable Expense means an expense relating to administrative, payroll, marketing and maintenance expenses included in Operating Expenses and “Controllable Expenses” means all administrative, payroll, marketing and maintenance expenses included in Operating Expenses.
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Examples of Controllable Expense in a sentence

  • For the purpose of calculating the Operating Expenses, no Controllable Expense will increase more than five percent (5%) over the charge paid by Tenant the previous Lease Year.

  • Landlord shall supply the Leased Premises with trash and recycling services, janitorial services on a 5-day a week basis (or as otherwise agreed to by Landlord and Tenant) as is customary for similar Buildings which costs shall be included in Operating Costs in accordance with the terms of Section 5.03(c) and shall not be a Controllable Expense.

  • In the event that the increase in a Controllable Expense is more than 3% for any one year, Lessor shall be entitled to carry over the amount in excess of 3% to any future year in the Lease term in which that Controllable Expense has less than a 3% increase.

  • Commencing as of January 1, 2029, in no event shall the amount of Controllable Operating Expenses (as hereinafter defined) included in Operating Expenses for any Lease Year exceed the Controllable Expense Cap (as hereinafter defined) for such Lease Year.

  • Notwithstanding the foregoing, increases in each individual Controllable Expense shall be limited to a maximum upward adjustment of three percent (3%) per year.

  • The “Controllable Expense Cap” for each calendar after 2012 shall be one hundred three (103%) percent of the Controllable Expense Cap for the immediately preceding calendar year (as the same may be adjusted pursuant to Section 3.2.3).

  • For purposes of calculating Tenant’s Percentage of Operating Costs, in no event shall the amount of Controllable Expenses included in Operating Costs for any calendar year exceed the Controllable Expense Cap for such calendar year.

  • It is the intention of this provision that the Cap provided with respect to Controllable Expense be a “cumulative cap”.

  • As used herein, “ongoing basis” means that, if actual Controllable Expenses increase by more than the Controllable Expense Cap amount for any given year, Landlord may carry over to the following years any such amounts by which actual Controllable Expenses exceeded the Controllable Expense Cap in such prior year(s), but only to the extent that they do not cause an exceedance of the Controllable Expense Cap in any of the following years.

  • If, pursuant to the provisions of this paragraph, any portion of Controllable Expenses is excluded from Operating Costs in a calendar year, such amount shall accrue and shall be included in Operating Costs (as Controllable Expenses) with respect to the next following calendar year, subject to the Controllable Expense Cap for such calendar year.

Related to Controllable Expense

  • Controllable Expenses means all expenses, other than Uncontrollable Expenses, incurred by the Company or any Subsidiary of the Company with respect to the Property.

  • Controllable Operating Expenses means all Operating Expenses except property taxes and assessments, capital expenditures that are reasonably required, costs for repairs and maintenance (excluding preventative maintenance), utility charges, insurance charges, costs of services provided under a union contract, payments under covenants, conditions and restrictions or to an owners’ association and costs associated with repairs due to casualty, vandalism or other cause outside of Landlord’s reasonable control.

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance, and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following: