Occupancy Cost definition

Occupancy Cost means building rental expense, real estate taxes, utilities, maintenance and repair and property casualty insurance.
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Occupancy Cost means (i) the “triple net” rental value of the Premises, which the parties have agreed is ( ) per month (the “Rental Component”) and (ii) Tenant’s pro rata share (as set forth in Exhibit B attached hereto and referred to herein as “Tenant’s Pro Rata Share”) of Landlord’s operating expenses for the Project, which operating expenses are more particularly described on Exhibit B attached hereto and made a part hereof (the “Non-Rental Component”). Tenant’s Pro Rata Share of the utility expense portion of the Non-Rental Component (referred to herein as the “Utility Charges”) will be billed to Tenant separately from all of the other operating expenses comprising the Non-Rental Component (all such other operating expenses are referred to herein as the “Operating Expense Charges”). All amounts required to be paid by Tenant under this Lease other than the Occupancy Cost shall be deemed Additional Rent (which, collectively with the Occupancy Cost, shall be deemed “Rent”). Rent shall be made payable to the entity, and sent to the address, Landlord designates in writing to Tenant and shall be made by good and sufficient check or by other means acceptable to Landlord.
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Occupancy Cost shall refer to (a) the "triple net" rental value of the Premises (which shall mean the management reporting depreciation on the land, the land improvements, the building, the building improvements and the building-related building equipment with respect to the Building, based on Hewlett-Packard Company's methods and procedures as of the date hereof (the "Rental Component")) and (b) a pro rata share of Landlord's actual cost of the following with respect to the Building and property on which the Building is located: Landlord's liability and property insurance, property taxes and assessments, utilities (to the extent not separately metered), maintenance to the common areas and areas for the common benefit of all of the occupants of the Building and other charges reasonably and customarily charged by landlords for similar premises (the "Non-Rental Component"). Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without any deduction or offset and without prior notice or demand, at the address indicated by Landlord from time to time. Rent for any period which is for less than one (1) month of the Term shall be a pro rata portion of the monthly installment. All amounts required to be paid by Tenant under this Lease other than Base Rent shall be deemed Additional Rent (which, collectively with Base Rent, shall be deemed "Rent"). Notwithstanding the provisions of the first two sentences of this section, in the event the Term extends or is extended by agreement of the parties beyond October 31, 2001, unless the parties otherwise expressly agree in writing, Base Rent shall be an amount equal to the Occupancy Cost of the Premises, including the use of the Shared Areas, plus an administrative fee equal to ten percent (10%) of the Non-Rental Component of the Occupancy Cost; provided that the Rental Component shall be equal to the fair market value of the Premises on a "triple net" basis. In such event, the parties shall negotiate in good faith to determine the fair market value of the Premises. In the event the parties are unable to agree upon the fair market value prior to August 1, 2001, the fair market rent shall be determined by three appraisers selected and governed by the rules of the American Arbitration Association.
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Examples of Occupancy Cost in a sentence

  • Occupancy Cost as a Percentage of Sales is the trailing 12-month Base Minimum Rent, plus all applicable ancillary charges, plus overage rent, if applicable (based on last 12 months of sales), divided by the trailing 12-month Total Sales PSF for the same tenants.

  • Occupancy Cost Ratio: (rental charges + service charges including marketing costs for tenants, all including VAT) / (tenants’ sales, including VAT).

  • Item D: Occupancy Cost – Include the projected costs for office and service site rental, and utility costs associated with the service being bid; all costs should be estimated and detailed to the fullest extent possible and listed in section D.

  • Occupancy Cost is calculated by dividing (c) Average Sum of Rent and Recoverable Common Area Costs per Square Foot by (a) Average Annual Tenant Sales per Square Foot.

  • ONTARIO TAX CREDIT— Ontario Property Tax Credit— Occupancy Cost: Given that you are living in a designated university student residence in Ontario, you may claim only $25 as your occupancy cost and not the full amount of residence fees paid when you file your income tax return.

  • FINANCIAL AND OPERATING RESULTS OCCUPANCY COST Occupancy Cost is a relevant performance measurement in the real estate industry as it allows the measurement of our tenant’s financial health.

  • Note: Costs associated with any rental of client housing should not be included in the Occupancy Cost category.

  • Occupancy Cost of SpaceThe cost of space in privately or publicly owned buildings used for the benefit of the program isALLOWABLE.The total cost of space is allowable to the extent that it is reasonable and does not exceed the rental cost of comparable space and facilities in the same locality.

  • In the event that an Occupancy Cost Pleading (as defined below) is filed, the Debtors will prepare and deliver an updated Budget in form and substance reasonably satisfactory to the Senior Agents that provides for the payment of Occupancy Costs for such locations as may be required based on the relief stated in the Occupancy Cost Pleading within five Business Days after the filing of such pleading (but only for such period as may be needed for the sale of Collateral as approved by the Senior Agents).

  • Occupancy Cost Ratio (“OCR”): (rental charges + service charges including marketing costs for tenants, all including VAT) / (tenant sales, including VAT).

Related to Occupancy Cost

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Single Room Occupancy or “SRO” means housing consisting of single room dwelling units that is the primary residence of its occupant or occupants. An SRO does not include facilities for students.

  • Occupancy Rate means, for any Property, the percentage of the net rentable area (determined on a square feet basis) of such Property leased by bona fide tenants of such Property (excluding tenants that have vacated the Property on a permanent basis and have not sublet same to a bona fide subtenant) pursuant to bona fide tenant leases (or subleases), in each case, which tenants (or subtenants) are not more than sixty days past due in the payment of all rent payments due under such leases (or subleases).

  • Lessor's Cost for the Aircraft means the amount denominated as such in Exhibit B to the Lease.

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Tenant’s Percentage means a percentage, the numerator of which is the number of rentable square feet of the leased Premises and the denominator of which is the total number of rentable square feet of the Building, whether or not such space is actually rented. The Tenant's Percentage shall be changed from time to time to reflect any change in the total rentable square footage in the Building or the rentable square feet of the leased Premises. If the rentable square footage of the Building is not fully occupied during any particular Operating Expense year including the base year, Landlord shall adjust those Operating Expenses which are affected by occupancy for the particular Operating Expense year to reflect 100% occupancy. If during any Operating Year the tenant of any space in the Building performs work or services therein pursuant to a written agreement between Landlord and such tenant in lieu of having Landlord perform the same and the cost thereof would have been included in Landlord's Operating Expenses, then in any such event(s), at Landlord's option, the Operating Expenses for such Operating Year shall be adjusted to reflect the Operating Expenses that would have been incurred if Landlord had performed such work or services, as the case may be. In the event Operating Expenses are decreased as a result of extraordinary changes then the Base Year Operating Expenses shall be correspondingly reduced. An extraordinary change shall mean changes unrelated to the normal inflation and deflation of the cost of goods and services making up the Operating Expenses, such as a change in the rentable area contained in the Building resulting from condemnation, casualty, demolition, alteration or construction of the additional improvements. Any decrease in Taxes shall be considered an extraordinary change if due to any statewide property tax limitation or reduction legislation. If the total rentable area of the Building changes, Landlord shall reasonably determine a revised Tenant's Percentage reflecting the change.

  • Anticipated county property tax revenue availability means the

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • bicycle parking space – occupant means an area that is equipped with a bicycle rack or locker for the purpose of parking and securing bicycles, and:

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Gross Floor Area means the total floor area, measured between the outside of exterior walls or between the outside of exterior walls and the centre line of party walls dividing the building from another building, of all floors above the average level of finished ground adjoining the building at its exterior walls;

  • Footage means collectively all video, video tape recordings, film, photographs, digital photographs, and all other digital assets that depict or record the Event and/or Undersigned’s presence at the Event.

  • Tenant’s Proportionate Share is, subject to the provisions of this Paragraph 3, the percentage number described in Item 4 of the Basic Lease Provisions. Tenant's Proportionate Share represents a fraction, the numerator of which is the number of square feet of Rentable Area in the Premises and the denominator of which is the number of square feet of Rentable Area in the Project, as determined by Landlord pursuant to Subparagraph 2(d) above.

  • mixed-use building means a building or structure containing a residential and non- residential use other than a home occupation;

  • Occupancy means the use or intended use of a building or part thereof for the shelter or support of persons, animals or property.

  • bicycle parking space – visitor means an area that is equipped with a bicycle rack for the purpose of parking and securing bicycles, and:

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • Tenant’s Percentage Share means the percentage specified in the Basic Lease Information.

  • Transient occupancy means occupancy in transient lodging that has all of the following

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Restoration Cost has the meaning set forth in Section 5.06.

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • domestic premises means any premises used wholly or partly as a dwelling or intended for such use;

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance, and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Project Cost means the costs incurred in connection with the