Electrical Costs definition
Electrical Costs means: (a) charges paid by Landlord for electricity; (b) costs incurred in connection with an energy management program for the Property; and (c) if and to the extent permitted by Law, a fee for the services provided by Landlord in connection with the selection of utility companies and the negotiation and administration of contracts for electricity, provided that such fee shall not exceed 50% of any savings obtained by Landlord. Electrical Costs shall be adjusted as follows:
Electrical Costs means: (i) all charges paid by Landlord for electricity supplied to the Building, Property and Premises, regardless of whether such charges are characterized as distribution charges, transmission charges, generation charges, public good charges, disconnection charges, competitive transaction charges, stranded cost recoveries or otherwise; (ii) except to the extent otherwise included in Basic Costs, any costs incurred in connection with the energy management program for the Building, Property and Premises, including any costs incurred for the replacement of lights and ballasts and the purchase and installation of sensors and other energy saving equipment; and (iii) if and to the extent permitted by law, a reasonable fee for the services provided by Landlord in connection with the selection of utility companies and the negotiation and administration of contracts for the generation of electricity. Notwithstanding the foregoing, Electrical Costs shall be adjusted as follows:
Electrical Costs means the cost of all electricity used by the Project, which shall include sales, use, excise or other taxes assessed by governmental authorities on electrical services supplied to the Project, but which shall not include separately metered electricity payable directly to Landlord by Tenant or any other tenant or occupant of the Project. Such amount shall be payable in monthly installments on the Commencement Date and on the first day of each calendar month thereafter. Each installment shall be based on Landlord’s estimate of the amount due for each month. From time to time during any calendar year, Landlord may estimate or re-estimate the Electrical Costs to be due by Tenant for that calendar year and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Electrical Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations.
Examples of Electrical Costs in a sentence
Occupancy of the Premises by Tenant prior to the Commencement Date shall be subject to all of the provisions of this Lease excepting only those requiring the payment of Basic Rent, Additional Rent, and Electrical Costs (each as defined herein).
Tenant's obligation to pay ▇▇▇▇▇▇'s Proportionate Share of Operating Expenses, Taxes, and Electrical Costs (each as defined in Article III) as set forth in Section 3.03 below, and all other monetary obligations of Tenant hereunder (except for Base Rent) shall be considered "Additional Rent" due hereunder whether or not designated as such.
Notwithstanding such abatement of Basic Rent, (a) all other sums due under this Lease, including Additional Rent and Tenant's Proportionate Share of Electrical Costs, shall be payable as provided in this Lease, and (b) any increases in Basic Rent set forth in this Lease shall occur on the dates scheduled therefor.
If this Lease is not terminated, (i) Landlord shall restore the remainder of the Project, (ii) Tenant’s Proportionate Share of Operating Expenses, Taxes and Electrical Costs shall be adjusted based on the change of square footage in the Premises, the Building and the Project in accordance with BOMA standards, and, (iii) if any portion of the Premises become untenantable, then Rent shall be equitably adjusted to account for any said portion from the date of such Taking.
Landlord and Tenant agree that each provision of this Lease for determining charges and amounts payable by Tenant (including provisions regarding Additional Rent and Tenant's Proportionate Share of Electrical Costs) is commercially reasonable and, as to each such charge or amount, constitutes a statement of the amount of the charge or a method by which the charge is to be computed for purposes of Section 93.012 of the Texas Property Code.
More Definitions of Electrical Costs
Electrical Costs shall have the meaning set forth in Section 6.1.
Electrical Costs means: (i) charges paid by Landlord for electricity; and (ii) costs incurred in connection with an energy management program for the Building or Property, including costs incurred for the replacement of lights and ballasts and the purchase and installation of sensors and other energy saving equipment. If the Building is not at least 95% occupied during any calendar year or if Landlord is not supplying electrical services to at least 95% of the total Rentable Square Footage of the Building at any time during a calendar year, Electrical Costs shall be determined as if the Building had been 95% occupied and Landlord had been supplying electrical services to 95% of the Rentable Square Footage of the Building during that calendar year. Electrical Costs shall be adjusted as follows:
(a) amounts received by Landlord as reimbursement for above standard electrical consumption shall be deducted from Electrical Costs, and (b) the cost of electricity incurred to provide overtime HVAC to specific tenants (as reasonably estimated by Landlord) shall be deducted from Electrical Costs. Landlord shall have the exclusive right to select any company providing electrical service to the Premises, to aggregate the electrical service for the Building and Premises with other buildings, to purchase electricity through a broker and/or buyers group and to change the providers and manner of purchasing electricity.
Electrical Costs mean: (a) charges paid by Landlord for electricity; (b) costs incurred in connection with an energy management program for the Property; and (c) if and to the extent permitted by Law, a fee for the services provided by Landlord in connection with the selection of utility companies and the negotiation and administration of contracts for electricity, provided that such fee shall not exceed 50% of any savings obtained by Landlord. Electrical Costs shall be adjusted as follows:
(i) amounts received by Landlord as reimbursement from tenants for above standard electrical consumption shall be deducted from Electrical Costs; (ii) the cost of electricity incurred to provide overtime HVAC to specific tenants (as reasonably estimated by Landlord) shall be deducted from Electrical Costs; and (iii) if any tenants of the Complex, including Tenant, are billed directly by a utility company for the cost of electricity to their premises as a separate charge, the cost of electricity to such tenant spaces in the Complex shall be deducted from Electrical Costs.
Electrical Costs means: (i) all charges paid by Landlord for electricity supplied to the Building, Property and Premises, regardless of whether such charges are characterized as distribution charges, transmission charges, generation charges, public good charges, disconnection charges, competitive transaction charges, stranded cost recoveries or otherwise; and (ii) except to the extent otherwise included in Basic Costs, any costs incurred in connection with the energy management program for the Building, Property and Premises, including any costs incurred for the replacement of lights and ballasts and the purchase and installation of sensors and other energy saving equipment. Notwithstanding the foregoing, Electrical Costs shall be adjusted as follows:
Electrical Costs means: (i) charges paid by Landlord for electricity, whether to a utility company or other provider; (ii) costs incurred in connection with an energy management program, whether to a utility company or other provider; and (iii) if and to the extent permitted by Law, a fee for the services provided by Landlord in connection with the selection of utility companies and the negotiation and administration of contracts for electricity. Electrical Costs shall be adjusted as follows: (x) amounts received by Landlord as reimbursement for above standard electrical consumption shall be deducted from Electrical Costs; and (y) Landlord's cost of electricity to individual tenant spaces in the Office Area (whether separately metered or reasonably estimated), shall be deducted from Electrical Costs.
f. The cost of maintenance, repair and replacements of existing improvements and equipment pursuant to Section 9.02.
g. The amortized cost of capital improvements (as distinguished from replacement parts or components installed in the ordinary course of business) made to the ▇▇▇▇▇▇▇▇ Center which are: (i) performed primarily to reduce operating expense costs or otherwise improve the operating efficiency of the ▇▇▇▇▇▇▇▇ Center; or (ii) required to comply with any Laws that are enacted, or first interpreted to apply to the ▇▇▇▇▇▇▇▇ Center, after the Effective Date of this Lease. The cost of capital improvements shall be amortized by Landlord over the Payback Period (defined below). “Payback Period” means the reasonably estimated period of time that it takes for the cost savings resulting from a capital improvement to equal the total cost of the capital improvement. If Landlord incurs costs for the ▇▇▇▇▇▇▇▇ Center, whether pursuant to a reciprocal easement agreement, common areas agreement, lease with a non-Office Area tenant or otherwise, a portion of such shared costs and expenses allocated to the Office Area, as reasonably determined by Landlord, shall be considered Expenses. Expenses shall not include: the cost of capital improvements (except as set forth in (g) of this Section 4.03); depreciation; interest; principal payments of mortgage and other non-operating debts of Landlord; the cost of repairs or other work to the extent Landlord is reimbursed by insurance or condemnation proceeds; costs in connection with leasing space in the Office Area, including brokerage commissions; lease concessions, including rental abatements and construction allowances, granted to specific te...
Electrical Costs means charges paid by Landlord for electricity; costs incurred in connection with an energy management program for the Property; and, if and to the extent permitted by Law, a fee for the services provided by Landlord in connection with the selection of utility companies and the negotiation and administration of contracts for electricity, provided that such fee shall not exceed 50% of any savings obtained by Landlord. Electrical Costs shall be adjusted as follows: (A) amounts received by Landlord as reimbursement for electrical consumption metered to Tenant as set forth in Section 1 I shall be deducted from Electrical Costs; (B) the cost of electricity incurred to provide overtime IIVAC to specific tenants (as reasonably
Electrical Costs means: (a) charges paid by Landlord for electricity; (b) costs incurred in connection with an energy management program for the Property; and (c) if and to the extent permitted by Law, a fee for the services provided by Landlord in connection with the selection of utility companies and the negotiation and administration of contracts for electricity, provided that such fee shall not exceed 50% of any savings obtained by Landlord. Electrical Costs shall be adjusted as follows: (i) amounts received by Landlord as reimbursement for above Electrical Costs; (ii) the cost of electricity incurred to provide overtime HVAC to specific tenants (as reasonably estimated by Landlord) shall be deducted from Electrical Costs; and (iii) if Tenant is billed directly for the cost of building standard electricity to the Premises as a separate charge in addition to Base Rent, the cost of electricity to individual tenant spaces in the Building shall be deducted from Electrical Costs.