Landlord Operating Costs shall mean (i) Reimbursable Operating Costs (as such term is defined in the Master Lease) attributable to the Building, as described in Section 8.E of the Original Master Lease; (ii) Reimbursable Operating Costs attributable to the Project, as described in Section 8.E of the Original Master Lease, (iii) taxes payable by Sublandlord pursuant to Section 10 of the Original Master Lease, as well as (iv) costs payable by Sublandlord pursuant to Section 21.W of the Original Master Lease.
Examples of Landlord Operating Costs in a sentence
Subtenants estimated payments of Subtenants Percentage Share of Landlord Operating Costs shall be reconciled from time to time with the actual amounts thereof due as and when Sublandlord is notified by Landlord of the actual amounts of Landlord Operating Costs; and Sublandlord will deliver to Subtenant a copy of any such notice(s) from Landlord upon which such reconciliation may be based.
Sublandlord shall give Subtenant written notice of its estimate of the amount of Subtenants Percentage Share of Landlord Operating Costs payable for each calendar year; such estimate may be aggregated with Sublandlords estimate of Sublandlord Operating Costs payable for such year.
The budgeted amount of Landlord Operating Costs for each Lease Year (the "Operating Expense Budget") shall be payable by Tenant to Landlord in monthly amounts in advance on or before the first day of each calendar month during the Term.
If Landlord is not furnishing any particular work or service (the cost of which, if performed by Landlord, would be included in Operating Costs) to a tenant who has undertaken to perform such work or service in lieu of the performance thereof by Landlord, Operating Costs shall be deemed to be increased by an amount equal to the additional Operating Costs which would reasonably have been incurred during such period by Landlord if it had, at its own expense, furnished such work or service to such tenant.
If subtenant exercises its option to extend the term, Subtenant shall replace the then letter of credit with a letter of credit in the amount of Seventy Thousand One Hundred Sixty-Two and 20/100ths Dollars ($70,162.20) plus the then monthly estimated total of Landlord Operating Costs and Taxes and Sublandlord Operating Costs allocated to the Premises and satisfying the same conditions with an expiry date no earlier than the last day of the month following expiration of the extended term.