Expense Stop definition

Expense Stop means that portion of the Operating Expenses, expressed in terms of dollars per square foot of Net Rentable Area per Fiscal Year, which will be deducted from the computation of Additional Rent. Unless changed by mutual agreement of the parties, the "Expense Stop" shall be equal to the actual operating expenses per rentable square foot for the 1997 calendar year.

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Expense Stop means the amount (per square foot of Rentable Area of the Premises) Landlord herewith agrees to expend as its share of Operating Expense (which shall be a credit for Tenant to apply to offset Operating Expenses charged to the Premises), not to exceed the total amount of Operating Expenses for calendar year 2007 (the “Base Year”) (per square foot of Rentable Area in the Building); provided, however, that if occupancy of the Building during the Base Year is less than ninety-five percent (95%), Operating Expenses for the Base Year shall be “grossed up” to that amount of Operating Expenses that, using reasonable projections, would normally be expected to be incurred if the Building were ninety-five percent (95%) occupied during the Base Year. With respect to Real Property Taxes included in Operating Expenses for the Base Year, such amount shall be determined under the assumption that the Building is fully assessed as a completed and occupied unit.

Expense Stop means the “Operating Expenses” (as defined in Paragraph 5.1.2) allocable to the Premises that are actually incurred in4.

Examples of Expense Stop in a sentence

• During each calendar year or partial calendar year of the Term (after the base year, if the Expense Stop is calculated on a base year basis), Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to the estimated Additional Rent for such calendar year or part thereof divided by the number of months therein.

• With respect to any partial calendar month occurring during such partial calendar year, the Expense Stop shall also be prorated based upon the number of days in that partial calendar month.

• The Basic Cost (other than the first year in which the Building is occupied) and Expense Stop shall be prorated for any portion of the Term which is less than a full calendar year.

• For any partial calendar year at the termination of this Lease, Tenant’s Share of any increases in Operating Costs for such year over the Expense Stop shall be prorated on the basis of a 365-day year by computing Tenant’s Share of the increases in Operating Costs for the entire year and then prorating such amount for the number of days this Lease was in effect during such year.

• Tenant acknowledges that the Premises Electrical Expense Stop is seventy cents ($0.70) per square foot of Net Rentable Area is a component of the Basic Costs Expense Stop and that Tenant is obligated to pay electrical expenses exceeding the Premises Electrical Expense Stop pursuant to Paragraph 14 of the Lease.

More Definitions of Expense Stop

Expense Stop. Tenant’s Proportionate Share of actual 2014 (“Base Year”) expenses. Landlord’s Address for Payment of Rent: DTR14, LLC 17▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: Accounting Department Standard HVAC Hours: Between 7:00 a.m. and 6:00 p.m., Monday through Friday, and between 8:00 a.m. and 12:00 p.m. on Saturday, excluding legal holidays in the State of Arizona. Landlord's Address DTR14, LLC For Notices: 17▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: Ga▇▇ ▇. ▇▇▇▇▇▇▇, Esq. Fax: (4▇▇) ▇▇▇-▇▇▇▇ With copy of any Default Notice to:

Expense Stop means the Basic Costs (as defined in this Lease) per square foot of Rentable Area in the Building for the calendar year 1996.

Expense Stop means Operating Expenses (stated on a per rentable square foot basis) for the fiscal year beginning on November 1, 2003 and ending October 31, 2004 (the "Base Year"); provided, however, that if the Building was not substantially occupied (which shall mean occupancy of ninety-five percent (95%) of the square feet of rentable area in the Building) during all or a portion of the Base Year, or if by reason of partial operation of the Building all variable Operating Expenses for the Base Year were not incurred, the Expense Stop shall be adjusted by increasing in a commercially reasonable manner the Operating Expenses for the Base Year to an amount which Landlord estimates, in Landlord's reasonable judgment exercised in good faith, would have been incurred had the Building been substantially occupied and in full operation during the Base Year. By way of example and not limitation, variable Operating Expenses include utilities, supplies, trash removal, janitorial services, and extermination.

Expense Stop means an amount equal to $6.50 per rentable square foot of the Building.

Expense Stop. “ shall mean the amount set forth in Section 9.1 of the Summary.

Expense Stop means $7.00 per rentable square foot in the Premises (to be increased by 3% each year during the Term commencing January 1, 2008).

Expense Stop means for the purposes of this Lease, the Expense Stop for Operating Expenses is agreed to be $5.69 per rentable square foot.