Landlord’s Operating Expenses means the cost of operation of the Building and the Site which shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation, the following: premiums for insurance carried with respect to the Building and the Site (including, without limitation, liability insurance, insurance against loss in case of fire or casualty and insurance of monthly installments of fixed rent and any Additional Rent which may be due under this Lease and other leases of space in the Building for not more than 12 months in the case of both fixed rent and Additional Rent and if there be any first mortgage of the Property, including such insurance as may be required by the holder of such first mortgage); compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid to, for or with respect to all persons engaged in the operating, maintaining or cleaning of the Building or Site, water, sewer, electric, gas, oil and telephone charges (excluding utility charges separately chargeable to tenants for additional or special services); cost of building and cleaning supplies and equipment; cost of maintenance, cleaning and repairs (other than repairs directly chargeable to other tenants or not properly chargeable against income or reimbursed from contractors under guarantees); cost of snow removal and care of landscaping; payments under service contracts with independent contractors; management fees at reasonable rates consistent with the type of occupancy and the service rendered; and all other reasonable and necessary expenses paid in connection with the operation, cleaning and maintenance of the Building and the Site and properly chargeable against income, provided, however, there shall be included (a) depreciation for capital expenditures made by Landlord (i) to reduce Landlord's Operating Expenses if Landlord shall have reasonably determined that the annual reduction in Landlord's Operating Expenses shall exceed depreciation therefor or (ii) to comply with applicable laws, rules, regulations, requirements, statutes, ordinances, by-laws and court decisions of all public authorities which are now or hereafter in force; plus (b) in the case of both (i) and (ii) an interest factor, reasonably determined by Landlord, as being the interest rate then charged for long term mortgages by institutional lenders on like properties within the locality in which the Building is...
Landlord’s Operating Expenses means the cost of operation of the Property, including those incurred in discharging the obligations under Sections 7.1, 7.2 and 7.3. In addition, such costs shall exclude payments of debt service and any other mortgage charges, brokerage commissions, real estate taxes (to the extent paid pursuant to Section 6.2 hereof), and costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation:
Landlord’s Operating Expenses defined in Section 5.1(a).
Examples of Landlord’s Operating Expenses in a sentence
The cost of such insurance shall be treated as a part of Landlord’s Operating Expenses.
The cost of all such additional insurance shall also be part of the Landlord’s Operating Expenses.
Any or all of Landlord’s insurance may be provided by blanket coverage maintained by Landlord or any affiliate of Landlord under its insurance program for its portfolio of properties, or by Landlord or any affiliate of Landlord under a program of self-insurance, and in such event Landlord’s Operating Expenses shall include the portion of the reasonable cost of blanket insurance or self-insurance that is allocated to the Building.
If Tenant does not give written notice of its election to audit Landlord’s Operating Expenses during the Audit Election Period, Landlord’s Operating 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.
The costs and expenses incurred by Landlord in connection with such repairs and replacements will be included in Landlord’s Operating Expenses to the extent permitted by the terms of this Lease.
More Definitions of Landlord’s Operating Expenses
Landlord’s Operating Expenses means all costs actually paid or incurred in servicing, operating, managing, maintaining, and repairing the Building and the land, facilities and appurtenances thereto, including without limitation the costs of the following: (i) supplies, materials and total wage and labor costs and all costs and expenses of independent contractors paid or incurred on account of all persons engaged in the operation, maintenance, security, cleaning and repair of the Building and the land, facilities and appurtenances therefor including social security unemployment compensation, pension vacation, sick pay and other so-called "fringe benefits"; (ii) services furnished to tenants of the Building, including Tenant, by Landlord; (iii) utilities consumed and expenses incurred in the operation of the Building and the land, facilities and appurtenances thereto; (iv) casualty, liability, workmen's compensation and all other insurance expenses (and the amount of any deductible in the event of an insured loss), all insurance to be in such amounts and insuring against such risks as Landlord may, in its sole discretion from time to time decide; (v) snow removal, planting, landscaping, grounds and parking ration, maintenance and repair expenses; (vi) management fees to third parties, including Landlord's Managing Agent, which do not exceed those customarily paid with respect to buildings in the area which are similar to the Building, and fees for required licenses or permits; (vii) rental or reasonable depreciation of equipment used in the operation of the Building and the land, facilities and appurtenances thereto, and personal property taxes assessed upon such equipment; and (viii) expenses of periodic testing to assure that the premises and surrounding land are free of hazardous materials, agents or substances, and to assure compliance with codes, regulations and laws. In addition, if Landlord from time to time (i) repairs or replaces any existing improvements or equipment or (ii) installs any new improvements or equipment to the Building in order to retain the existing functions of the Building, comply with laws or conserve energy, (including without limitation energy conservation improvements or other improvements), then the cost of such items amortized over their reasonable life, together with an actual or imputed interest rate (at the level then being charged by institutional first mortgagees for new permanent first mortgage loans on buildings in the area which are similar to the...
Landlord’s Operating Expenses means the actual cost of operation of the Building and the Site (including, without limitation, costs associated with the operation of other portions of the Office Park, to the extent allocable to the Property), which shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation, the following (subject to the exclusions hereinafter set forth in this Section 2.6): premiums for insurance carried with respect to the Building and the Site (including, without
Landlord’s Operating Expenses shall include all costs of operation, maintenance, repair, and management of (i) the Building, (ii) the Project, and (iii) the personal property used in conjunction therewith all as determined by standard accounting practices. The definition of “Landlord’s Operating Expenses” includes, but not by way of limitation, the following: real estate taxes on the Building; ground rents; if any, installments and interest on assessments for public betterment or public improvements; expenses of any proceedings for abatement of taxes and assessments; premiums for insurance; reasonable compensation and all fringe benefits, worker’s compensation insurance premiums and payroll taxes paid by Landlord to, for or with respect to all persons engaged in the operating, maintaining, or cleaning of the Building, provided these costs are consistent with market rates; steam, water, sewer, electricity, gas, telephone, and other utility charges for the Building not billed directly to tenants by Landlord or the utility company; costs of building and cleaning supplies and equipment (including rental); cost of maintenance, cleaning, and repairs, cost of snowplowing or removal, or both, and care of landscaping; payments to the independent contractors under service contracts for cleaning, operating, managing, maintaining and repairing the Building (which payments may be to affiliates of Landlord provided the same are at rates consistent with local market practices and with the type of occupancy and the services rendered); reasonable pro rata rental costs associated with providing the managing Table of Contents agent space for an office in the office park of which the Building is a part; the Building’s pro rata share (as reasonably determined by the Landlord) of the cost of operating, maintaining and repairing the common areas and facilities (such as, but not limited to, snowplowing, landscaping, common area and street lighting, security and management); if the Building is located, either in whole or in part, on a lot which is ground leased, the Building’s pro rata share of all fixed or additional rents or charges payable with respect to such ground lease; and all other necessary expenses paid in connection with the operation, cleaning, management, maintenance and repair of the Building and Project, or either, and properly chargeable against new income, it being agreed that if Landlord installs a new or replacement capital item for the purpose of reducing Landlord’s Operating Expenses, the...
Landlord’s Operating Expenses means the cost of operation of the Building and the Site which (i) shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made; all costs incurred exclusively as a result of owning, operating and maintaining the Additional Building; all capital expenditures and depreciation (for items purchased or leased), except as otherwise explicitly provided in this Section 2.6; leasing fees or commissions, advertising and promotional expenses, legal fees, the cost of tenant improvements, build out allowances, moving expenses, assumption of rent under existing leases and other concessions incurred in connection with leasing space in the Building; interest on indebtedness, debt amortization, ground rent, and refinancing costs for any mortgage or ground lease of the Building or the Site; the cost of any item or service to the extent to which Landlord is actually reimbursed or compensated by insurance, any tenant, or any third party; legal fees or other expenses incurred in connection with negotiating and enforcing leases, subleases, assignments or other occupancy agreements for the Building; or depreciation or amortization except as otherwise expressly provided in this Lease but (ii) shall include, without limitation, the following: premiums for insurance carried with respect to the Building and the Site (including, without limitation, liability insurance, insurance against loss in case of fire or casualty and insurance of monthly installments of fixed rent and any Additional Rent which may be due under this Lease and other leases of space in the Building for not more than 12 months in the case of both fixed rent and Additional Rent and if there be any first mortgage of the Property, including such insurance as may be required by the holder of such first mortgage); compensation and all fringe benefits, worker’s compensation insurance premiums and payroll taxes paid to, for or with respect to all persons engaged in the operating, maintaining or cleaning of the Building or Site, water, sewer, gas, oil and telephone charges (excluding utility charges separately chargeable to tenants, including without limitation, those for additional or special services); cost of building and cleaning supplies and equipment; cost of maintenance, cleaning and repairs (other than repairs not properly chargeable against income or reimbursed from contractors under guarantees); cost of snow removal and care of landscaping; payments under ser...
Landlord’s Operating Expenses. (as defined in Section 2.6 of the Lease) for calendar year 2006 (that is the period beginning on January 1, 2006 and ending on December 31, 2006) divided by (b) the “Total Rentable Floor Area of the Building” (as defined in Section 1.1 of the Lease) (“Base Operating Expenses”). For the portion of the Lease Term prior to the Reduction Date, such operating expense base shall remain unchanged for such purposes.
Landlord’s Operating Expenses means all expenses and costs of every kind and nature which Landlord incurs because of or in connection with the ownership, maintenance, management and operation of the Land, the Building and the Common Area including all additional costs and expenses of operation, management and maintenance of the Land, the Building and the Common Area or, at the very minimum, which Landlord determines that it would have paid or incurred during any calendar year if the Building had been no less than ninety-five percent (95%) occupied. Landlord’s Operating Expenses and include, without limitation, all costs, expenses and disbursements incurred or made in connection with the following and treated uniformly during the base year and any subsequent years:
Landlord’s Operating Expenses means those costs or expenses paid or incurred by Landlord for operating, maintaining, and repairing (inclusive of Structural Repairs) the Building, any of its systems, or the Real Property, including the cost of electricity, gas, water, fuel, window cleaning, janitorial service, insurance of all kinds carried in good faith by Landlord and applicable to the Building or the Real Property, snow removal, maintenance and cleaning of the parking lot, cleaning of the exterior of the Building's windows, landscape maintenance (including replanting and replacing flowers and other plantings), painting or repainting or redecorating of the public areas, maintenance of equipment and replacement of worn out mechanical or damaged equipment, uniforms, management fees, typical and customary office expenses, building supplies, sundries, sales or use tax on supplies or services, wages, salaries and other compensation, including applicable payroll taxes and benefits, of all persons engaged by Landlord for the operation, maintenance and repair of the Building and the Real Property including independent contractors' fees, replacement cost of tools and equipment, legal and accounting expenses, and any other expenses or costs, which in accordance with generally accepted accounting principles and the standard management practices for office buildings comparable to the Building would be considered as an expense of operating, maintaining, or repairing the Building and the Real Property. Excluded from Landlord's Operating Expenses are capital improvement costs (unless any such cost or costs are incurred as a cost savings measure that will, at least in part, be of benefit to Tenant), costs reimbursed by insurance or otherwise, the cost of work performed specifically for a tenant in the Building for which such tenant reimburses Landlord, costs in connection with preparing space for a new tenant and real estate broker's commissions.