Definition of Lessee's Proportionate Share of Common Costs


Lessee's Proportionate Share of Common Costs means the result obtained by (i) dividing Common Costs by the Area of the Business Park, and (ii) multiplying that result by the Area of the Premises. "Common Costs" mean (a) all expenses incurred by Lessor allocable or attributable to, or for the operation and maintenance of the Property, or any part thereof, other than Taxes and Lessor's Insurance Premiums, including, without limitation, costs incurred for property management; lighting; painting; policing of common areas; interior and exterior cleaning; traffic control; driveway, sidewalk and parking lot maintenance; garbage or debris collection and removal; landscape maintenance and replacement; and utility line maintenance and replacement; and electric, water and sewer charges not separately metered to lessees of the Business Park, and (b) and all levies, assessments, special assessments, dues and other charges allocable to the Property by virtue of any owner's association or similar group of which Lessor is a part, the Property's share of costs of maintenance and repair of common amenities (such as roadways, lakes streams, paths, and entrances) for the Project known as Phoenix Business Park, of which the Property is a part, including any expansions of the Project, and covenants, restrictions or other agreements affecting the Property or any portion thereof, including those described in Section 23 hereof.

Examples of Lessee's Proportionate Share of Common Costs in a sentence

If Lessee's Proportionate Share of Common Costs exceeds the estimated payments made by Lessee under subparagraph 3.4.2 for the year in question, Lessee will pay such excess within 30 days after Lessor's statement is mailed.
If said estimated payments exceed Lessee's Proportionate Share of Common Costs, the overpayment win be credited against the next payments coming due under subparagraph 3.4.2 hereof.
For the calendar year in which the Commencement Date occurs, Lessor's estimate of Lessee's Proportionate Share of Common Costs shall be deemed to be $0.55 per square foot times the Area of the Premises.
If Lessee's Proportionate Share of Common Costs exceeds the estimated payments made by Lessee under subparagraph 3.4.2 for the year in question.
For the calendar year in which the Commencement Date occurs, Lessor's estimate of Lessee's Proportionate Share of Common Costs shall be deemed to be $.50 per square foot times the Area of the Premises.