Operating Expense Budget means the budget of Operating Expenses for an Airport Fiscal Year adopted in conjunction with the Airport Operating Budget, all as provided in subdivision (13) of subsection (i) of this section.
Examples of Operating Expense Budget in a sentence
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.
For example, assume an annual existing Operating Expense Budget of $144,000 for a tenant with a tenants share of 50% and where such tenant was initially making $6,000 a month of estimated payments.
A proposed 2015 Operating Expense Budget is attached hereto as Exhibit P.
The retroactive billing will reflect the additional amount payable by the Tenant for Tenants Share of the new Operating Expense Budget for the calendar year to date.
The Operating Expense Budget for the first full Lease Year during the Term shall be $12,500 per month, and the Operating Expense Budget for any partial Lease Year at the commencement of the Term shall be prorated based on the first full Lease Year's Operating Budget.