Initial Operating Expenses definition

Initial Operating Expenses means the actual amount of Operating Expenses incurred by Landlord during the Initial Operational Year;
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Initial Operating Expenses. $4,988.37 per month
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Initial Operating Expenses means, as of any date of determination prior to September 30, 2016, the sum of (i) the actual Operating Expenses for all full calendar months that have concluded prior to such date of determination, beginning with the actual Operating Expenses for the calendar month commencing on October 1, 2015, plus (ii) the budgeted Operating Expenses, pursuant to the then Approved Annual Budget, for all calendar months that have not commenced or concluded (as applicable) prior to such date of determination and ending with the month commencing on September 1, 2016.
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Examples of Initial Operating Expenses in a sentence

  • For purposes hereof, the Initial Operating Expenses are stipulated to be the amount of Operating Expenses actually incurred by Landlord during the Operating Expense Base Year set forth in Section y1.13.

  • The Annual Rent stated in Section 1.A.(2) shall not be reduced if Operating Expenses for any Calendar Year are below the Initial Operating Expenses Basic Cost.

  • By way of illustration, the initial amount of the Base Monthly Rental which represents Operating Expenses of the Building is Five Dollars ($5.00) per rentable square foot; the initial Monthly Base Rental is Sixteen and 27/100 Dollars ($16.27) per rentable square foot; and the portion of initial Monthly Base Rental which is exclusive of Initial Operating Expenses of the Building is therefore Eleven and 27/100 Dollars ($11.27) per rentable square foot.

  • Landlord will, within ninety (90) days (or as soon thereafter as reasonably possible) after the close of each calendar year, provide Tenant a statement of such year’s actual Operating Expenses, showing the actual increase, if any, in Operating Expenses over the Initial Operating Expenses.

  • The Term shall commence upon the date when all the following have occurred: (i) Sublessor and Sublessee shall have executed and delivered this Sublease; (ii) Sublessee shall have paid the Base Rent and Initial Operating Expenses as provided in Section 5 hereof and delivered the Security Deposit to Sublessor as provided in Section 6 hereof; and (iii) Sublessor shall have received the written consent of Landlord to this Sublease as provided in Section 13 of the Master Lease.

  • The Annual Rent stated in Section 1A(2) shall not be reduced if Operating Expenses for any Calendar Year are below the Initial Operating Expenses Basic Cost.

  • Commencing each January 1st during the Term, Tenant shall pay monthly as additional rent, one twelfth (1/12th) of Tenant’s proportionate share of any projected increase in the Operating Expenses over the Initial Operating Expenses.

  • Commencing January 1, 2005, Tenant shall pay to Landlord five and 14/100 percent (5.14%) (being the stipulated proportion which the rentable area of the Premises bears to the total rentable office area of the Building) of the increase in Operating Expenses during the Term over Initial Operating Expenses.

  • Tenant shall pay to Landlord as additional rent forty-one and 40/100 percent (41.40%) (being the stipulated proportion which the rentable area of the Premises bears to the total rentable area of the Project which, as of the date of this Lease, is 58,669 rentable square feet) of the increase in Operating Expenses during the Term over Initial Operating Expenses.

  • For purposes hereof, the Initial Operating Expenses are stipulated to be the amount of Operating Expenses actually incurred by Landlord during the Base Year.