Operating Expense Payment definition

Operating Expense Payment means, with respect to any Operating Expense Year, the product obtained by multiplying (i) the excess (if any) of (A) the Operating Expenses for such Operating Expense Year, over (B) the Base Operating Expenses, by (ii) Tenant's Operating Expense Share.

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Operating Expense Payment means Tenant’s Percentage (as hereinafter defined) of the amount by which the Operating Expenses for a Lease Year exceeded the Operating Expenses for the Base Year.

Operating Expense Payment shall have the meaning given in Section 7.02.

Examples of Operating Expense Payment in a sentence

Notwithstanding anything to the contrary contained in this Lease, all amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not expressly denominated Fixed Rent, Tenant’s Tax Payment, the Retail Operating Expense Payment, Additional Rent (including Percentage Rent) or Rent, shall constitute rent for the purposes of Section 502(b)(6) of the United States Bankruptcy Code.
Until a different Comparative Statement shall be submitted as above provided, the monthly installments or rent payable under this lease due to an Increase in Projected Real Estate Taxes shall continue to be increased by such amount; however, notwithstanding any other provision herein, the failure of the Landlord to submit a Comparative Statement in any Subsequent Year shall not affect the amounts payable by Tenant as Operating Expense Payment in such Subsequent Year.
In order to adjust, during the term of this lease, for increases in the expenses of the Landlord in operating the building, the Tenant shall pay to the Landlord, as additional rent, commencing on April 1, 2001 and on each April 1 thereafter, the amount indicated in Schedule 1 as the Operating Expense Payment, such amount to be paid (in addition to the annual fixed rent) in twelve equal monthly installments.
When the Landlord shall furnish the Tenant with any Comparative Statement in accordance with this Article which shall show an Increase in Projected Real Estate Taxes, then commencing April 1, 2001, and on April 1 of each Subsequent Year in question, in addition to the increase in rent attributable to the Operating Expense Payment for such Subsequent Year, the rent payable under the lease shall be increased by the Tenant's Proportionate Share of the increase in the Projected Real Estate Taxes.
In no event shall any decrease in the Real Estate Taxes in any way reduce the fixed rent or additional rent payable by the Tenant under this lease, except to the extent to which a decrease in Real Estate Taxes shall result in a decrease in the additional rent payable pursuant to paragraph (a) of this Article; provided, however, that no decrease in Real Estate taxes shall in any way reduce any additional rent payable on account of any Operating Expense Payment.
The Operating Expense Payment shall be prorated for any partial Lease Years in which the Commencement Date shall occur and the Term shall end.
Should this Agreement terminate upon the transfer of the Stations to Programmer pursuant to the Purchase Agreement, the final Operating Expense Payment and LMA Fee Payment will be made at the Closing, subject to any adjustment required under Section 3 of the Purchase Agreement.
Within one hundred twenty (120) days following the end of each calendar year, Landlord will submit to Tenant a statement showing in reasonable detail the actual Real Estate Taxes and Operating Expenses for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s actual Tax and Operating Expense Payment for such calendar year (each a “Tax and Operating Expense Statement”).
The Estimated Operating Expense Payment for the first such calendar year is set forth in the Lease Summary.
The Operating Expense Payment shall be made by Tenant to Landlord in accordance with the terms of this Section 4.2 and shall be subject to adjustment as provided for in this Section 4.2.

More Definitions of Operating Expense Payment

Operating Expense Payment means the portion of the Operating Expenses which is payable by ▇▇▇▇▇▇ as provided in Article 3 hereinbelow.

Operating Expense Payment means, with respect to any Operating Expense Year, the sum of the Space A Operating Expense Payment and the Space B Operating Expense Payment.

Operating Expense Payment means one hundred percent (100%) of Lessor’s obligations to make payments to Prime Landlord in accordance with Section 5 of the Prime Lease, it being understood and agreed that such payments contemplated under Section 5 of the Prime Lease include, among other things, (i) Operating Expenses, (ii) Taxes, (iii) Landlord’s Property Management Fee, and (iv) Tenant’s share of Operating Expenses for the Garage, the Project, the Campus and the Premises (each such term, as defined in the Prime Lease).

Operating Expense Payment means the sum of the Common Operating Expense Payment (as hereinafter defined) plus the Building Operating Expense Payment (as hereinafter defined). The term “Common Operating Expense Payment” shall mean Tenant’s Percentage of the amount by which the Common Operating Expenses (as hereinafter defined) for a Lease Year exceed Common Operating Expenses for the Base Year. The term “Building Operating Expense Payment” shall mean Tenant’s Percentage of the amount by which the Building Operating Expenses (as hereinafter defined) for a Lease Year exceed Building Operating Expenses for the Base Year. The term “Common Operating Expenses” shall mean all Operating Expenses for maintenance of the parking facilities and roads that are used in common by the occupants of the Building and the Other Building (as hereinafter defined), landscaping costs, snow removal costs, and premiums for liability insurance maintained by Landlord for such parking facilities and roads. The “Building Operating Expenses” shall mean all Operating Expenses that are not Common Operating Expenses. Subject to Tenant’s right to dispute Annual Statements pursuant to Section 2.03(g) hereof, Landlord’s determination of whether Operating Expenses are Common Operating Expenses or Building Operating Expenses shall be conclusive and binding upon the parties.”