Operating Expense Cap definition

Operating Expense Cap means (i) for purposes of clause (x) above, an amount equal to (A) $500,000, multiplied by (B) the quotient of (1) the number of Weekly Collection Periods in the Initial Fiscal Year, divided by (2) 52, and (ii) for purposes of clause (y) above, $500,000.
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Operating Expense Cap means that Tenant shall not be charged for any increase in Controllable Operating Expenses in excess of five (5%) percent over the Controllable Operating Expenses for the Base Expense Year, with respect to the first Operating Expense Year, or in excess of five (5%) percent over the Controllable Operating Expenses for the immediately preceding Operating Expense Year, with respect to each succeeding Operating Expense Year.
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Operating Expense Cap shall have the meaning set forth in Section 6.7.1(a) hereof.
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Examples of Operating Expense Cap in a sentence

  • Any amount in excess of the Operating Expense Cap for any fiscal year shall be paid by the Investment Manager.

  • During at least the first twelve months after the Partnership commences trading, the General Partner has agreed to limit the operating expenses paid by the Partnership (those items in (ii) through (v) above) to 1/12th of 0.5% of the month-end capital account balances of all Interests for such month (the Operating Expense Cap).

  • In the event that the operating expenses during the first twelve months of trading operations exceed the Operating Expense Cap, such excess will be borne by the General Partner.

  • To the extent that A) such expenses are greater than the Operating Expense Cap for any month or B) the Operating Expense Cap exceeds such expenses for any month, the excess expenses or remaining portion of the Operating Expense Cap will carry over to the following month(s) and be included in the calculation of the Operating Expense Cap for such month(s).

  • For the avoidance of doubt, (i) the Operating Expense Cap shall not apply to any fees, costs, expenses and liabilities relating to persons investing indirectly in the Fund through any Unitholder or in connection with sub-clause 8.3(u) below and (ii) the Operating Expense Cap shall no longer apply upon the effectuation of an Exchange Listing.

  • Landlord and Tenant acknowledge that the foregoing is an estimate only and that the Tenant is obligated to pay Tenant's Share of the actual Operating Expenses, subject to the Controllable Operating Expense Cap set forth below.

  • For the avoidance of doubt, the Operating Expense Cap shall not apply to any fees, costs, expenses and liabilities relating to persons investing indirectly in the Fund through any Unitholder.

  • The Controllable Operating Expense Cap shall be an amount equal to Landlord's actual Controllable Operating Expenses for the first Lease Year increased by five percent (5%) annually, on a cumulative basis.

  • The Controllable Operating Expense Cap shall be an amount equal to Landlord's actual Controllable Operating Expenses for the first Lease Year increased by six percent (6%) annually, on a cumulative basis.

  • Operating Expenses for partial Operating Expense Years shall be divided by the number of months in such partial year and multiplied by twelve (12) for purposes of determining whether the Operating Expense Cap has been exceeded.