Operating Expense Increases definition

Operating Expense Increases. For the first complete lease year (containing all 12 months, January through and including December) and each complete lease year thereafter commencing during the Term, an amount equal to Tenant's Proportionate Share of the excess of Landlord's Operating Expenses for such calendar year over the product obtained by multiplying the Operating Expense Base by the Building Rentable Area; provided, however, that Operating Expense Increases for the any lease year which is not complete (containing fewer than all 12 months) shall be determined in accordance with the provisions of Section 5.2.

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Operating Expense Increases. For the calendar year in which the Operating Expense Commencement Date occurs and each calendar year thereafter during the Term, an amount equal to Tenant's Proportionate Share of the excess of Landlord's Operating Expenses for such calendar year over the product obtained by multiplying the Operating Expense Base by the Building Rentable Area.

Operating Expense Increases. Subject to the conditions set forth in Paragraph 31 hereof, for calendar year 2005 and each calendar year thereafter during the Term (subject to prorations as provided in Paragraph 3), an amount equal to Tenant's Proportionate Share of the excess of Landlord's Operating Expenses for such calendar year over the product obtained by multiplying the Operating Expense Base by the Building Rentable Area. In no event shall the Tenant's Proportionate Share of the excess of Landlord's Operating Expenses for any calendar year exceed a sum equal to One Dollar ($1.00) multiplied by the number of square feet of Rentable Area.

Examples of Operating Expense Increases in a sentence

If either the Lease Commencement Date shall not coincide with the beginning of a calendar year or the last day of the Term shall not coincide with the end of a calendar year, then the amount of Operating Expense Increases payable for the calendar year in which the Lease Commencement Date or the last day of the Term occurs, as the case may be, shall be pro-rated on a daily basis between Landlord and Tenant based on the number of days in such calendar year in which this Lease is in effect.
Tenant's obligations under this subsection to pay Operating Expense Increases and Landlord's obligation to reimburse Tenant for an overpayment of Operating Expenses shall survive the expiration of the Term.
Tenant shall pay as additional rent Operating Expense Increases for each calendar year, commencing with the calendar year in which the Operating Expense Commencement Date occurs.
During the Term of this Sublease, Sublessee will pay to Sublessor "Lessee's Share" (as such term is defined in the Master Lease) of any Operating Expense Increases payable by Sublessor pursuant to Paragraph 4.2 of the Master Lease.
If Tenant's Operating Expense Increases so stated are less than the amount (if any) theretofore paid by Tenant for Operating Expense Increases based on Landlord's estimate, Landlord shall refund to Tenant the excess within thirty (30) days after submission of such statement.
If Landlord’s estimate of Tenant’s Operating Expense Increases for any calendar year is received by Tenant after January 1 of the calendar year, Tenant shall pay to Landlord in a lump sum, within thirty (30) days after receipt of the estimate, the arrearage in the monthly estimates for each month in the calendar year before receipt of the estimate and shall pay the remaining monthly installments on the first day of each month in advance during the balance of the calendar year.
Within one hundred and twenty (120) days after the end of each calendar year, Landlord shall submit to Tenant a statement setting forth in reasonable detail the Operating Expenses for such calendar year and the amount (if any) of Tenant's Operating Expense Increases for such calendar year.
If a change in Real Estate Taxes is obtained through a tax appeal by Landlord or otherwise, which affects the result of Landlord’s prior year’s calculation of Tenant’s Pro Rata Share of Operating Expense Increases, then Landlord shall promptly issue a credit or a charge to Tenant, as the case may be, reflecting such Real Estate Taxes adjustment.
If this Lease continues in force upon such partial taking, the Rent and Tenant's Proportionate Share of Landlord's Electrical Expense, Operating Expense Increases and Real Estate Tax Increases shall be equitably adjusted according to the rentable area of the Demised Premises and the Building remaining after such partial taking.
Tenant shall pay as Additional Charges its Proportionate Share of any Operating Expense Increases in accordance with Section 1(b) for each calendar year, commencing with the calendar year 2002, it being understood and agreed that Tenant shall pay such Additional Charges for 2002 in spite of the fact that the Lease Commences July 1, 2003.

More Definitions of Operating Expense Increases

Operating Expense Increases means, during the Initial Term, the First Space Operating Expense Increase and, during the Second Space Term, both the First Space Operating Expense Increase and the Second Space Operating Expense Increase. Prime Landlord's estimates, statements, and other determinations of Basic Operating Expenses, pursuant to Section 5(d) of the Prime Lease Agreement (including, but not limited to, Sections 5(d) (v) and (vi)), shall be binding upon Subtenant, and Subtenant shall have no right to dispute the accuracy of any such estimate, statement or other determination except only as expressly provided as follows in this Paragraph 5(d).

Operating Expense Increases shall be the operating Expenses that are incurred during the fifth and each subsequent Lease Year during the Lease Term that are in excess of the amount of the Base Year Operating Expenses.

Operating Expense Increases. For the Initial Calendar Year and each calendar year thereafter ending within the Term and for the calendar year which includes the last day of the Term, an amount equal to Tenant's Proportionate Share of the excess of (x) the Operating Expenses for such calendar year, over (y) the product obtained by multiplying the Operating Expense Base for such calendar year by the Building Rentable Area.