Monthly Operating Expense definition

Monthly Operating Expense. CHARGE: See Section 5.5.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Monthly Operating Expense means the monthly amount payable for operating expenses as set forth in the approved Annual Budget (defined in Exhibit A hereto) not otherwise paid or reserved for in the accounts for Impounds (described at Section 3 of Exhibit A hereto), together with other amounts incurred by Borrower (and approved by Lender) in connection with the operation and maintenance of the Property.

Monthly Operating Expense means, with respect to each Stabilized Property, the reasonable out-of-pocket operating expenses actually incurred by or on behalf of Borrower or the related Eligible Property Owner in accordance with the Asset Management Agreement in any calendar month with respect to such Stabilized Property. For the sake of clarity, the Monthly Operating Expenses shall not include any amounts paid out of the Tax and Insurance Reserve Account, the Tax and Insurance Reserve Monthly Deposit or any other future reserves for taxes, insurance, capital expenditures or any other future expenses.

Examples of Monthly Operating Expense in a sentence

The Monthly Operating Expense Estimate for a period less than a full calendar month shall be duly prorated.
Thereafter Tenant agrees to pay Tenant's Monthly Operating Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year.
Thereafter Tenant agrees to pay Tenant’s Monthly Operating Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year’s Estimate Statement or a new revised Estimate Statement for the current calendar year.
Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Monthly Operating Expense Charge for the then current calendar year.
Tenant's Monthly Operating Expense Charge shall be determined as provided in Subparagraph 1(i) of this Lease.
The amount to be paid pursuant to the provisions of this Section 10.1 shall be paid monthly in advance as part of Tenant's Monthly Operating Expense Charge as estimated by Landlord based on the most recent tax bills and estimates of reappraised values (if reappraisal is to occur), commencing with the month (or partial month on a prorated basis if such be the case) that the Commencement Date occurs.
See Addendum 1 Initial Estimated Monthly Operating Expense Payments: (estimates only and subject to adjustment to actual costs and expenses according to the provisions of this Lease) 1.
Such amount includes monthly Base Rent (as defined in section C.6 of the Information Sheet), the Monthly Operating Expense Reimbursement, as provided in such Paragraph 5.A(ii), and the Tenant Improvement Allowance Reimbursement, as provided in such Paragraph 5.A(iii).
Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement (“Estimate Statement”) wherein Landlord will estimate both the Operating Expenses and Tenant’s Monthly Operating Expense Charge for the then current calendar year.
Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("ESTIMATE STATEMENT") wherein Landlord will estimate both the Operating Expenses and Tenant's Monthly Operating Expense Charge for the then current calendar year.

More Definitions of Monthly Operating Expense

Monthly Operating Expense. CHARGE: $288.00 subject to adjustment as provided in Exhibit "B" attached hereto.

Monthly Operating Expense means, with respect to each Management Period Contributed REO Property, the reasonable out-of-pocket operating expenses actually incurred by or on behalf of Borrower or the related Eligible REO Entity in accordance with the Asset Management Agreement in any calendar month with respect to such Management Period Contributed REO Property. Borrower shall deliver to Lender a schedule setting forth the actual Monthly Operating Expenses not less than ten (10) days prior to the related Payment Date. For the sake of clarity, (i) the Monthly Operating Expenses shall not include future reserves for taxes, insurance, capital expenditures or any other future expenses and (ii) such future reserves for taxes, insurance, capital expenditures or any other future expenses shall not be paid out of Income other than Available Income.

Monthly Operating Expense shall have the meaning given to such term in the definition of Cash Collateral Account Payments.