Electrical Expenses definition

Examples of Electrical Expenses in a sentence

If Tenant does not give written notice of its election to audit Landlord’s Electrical Expenses during the Electrical Audit Election Period, Landlord’s Electrical Expenses for the applicable calendar year shall be deemed approved for all purposes, and Tenant shall have no further right to review or contest the same.

Within 1 year after Landlord furnishes its statement of Electrical Expenses for any calendar year (including calendar year 2007) (the “Electrical Audit Election Period”), Tenant may, at its expense, elect to audit Landlord’s Electrical Expenses for such calendar year, provided that the audit shall be conducted during Landlord’s normal business hours at the location where Landlord maintains its books and records and shall not unreasonably interfere with the conduct of Landlord’s business.

If the audit proves that Landlord’s calculation of Electrical Expenses for the calendar year(s) under inspection was overstated by more than three percent (3%), then, Landlord shall pay Tenant’s actual reasonable out-of-pocket audit and inspection fees applicable to the review of the effected calendar year statement within thirty (30) days after receipt of Tenant’s invoice therefor.

Tenant’s Base Rental is based, in part, upon the assumption that Tenant is contributing as its share of the annual Electrical Expenses (as defined in paragraph 5(a) hereof) of the Building an amount equal to (i) the Electrical/Utility Base Expense Amount multiplied by (ii) the Rentable Space in the Premises.

Landlord may, from time to time, invoice Tenant for Metered Electrical Expenses (as well as any Excess Consumption Costs determined by a reputable consultant) and Tenant shall, within ten (10) days after receiving an invoice therefor, pay Landlord the amount of the Metered Electrical Expenses (and/or, as applicable, any Excess Consumption Costs determined by a reputable consultant) covered by such invoice.


More Definitions of Electrical Expenses

Electrical Expenses means the electrical charges incurred by the Project.