Operating Expense Stop definition

Operating Expense Stop means an amount equal to the actual Operating Expenses (on a per rentable square foot basis) for the calendar year 2015 (“Operating Expense Base Year”), subject to adjustment under Section 3 below.

Operating Expense Stop. The quotient of (i) the amount of the Actual Operating Expenses for the Project for the calendar year 1997, divided by (ii) the number of square feet of Rentable Area in the Building.

Operating Expense Stop. The meaning given in Paragraph 17 of the Basic Lease Terms shall apply.

Examples of Operating Expense Stop in a sentence

• LESSEE shall pay to LESSOR as additional rent per annum ("Additional Rent") a proportionate share (9.02%) of any increase in the Operating Costs (defined below) in the building (including the related land, driveways, parking facilities, and similar improvements) of which the leased premises are a part (hereinafter called the building), for a given calendar year over the actual Operating Costs in the building for the calendar year 1999 (the "Operating Expense Stop").

• Beginning on the Commencement Date, Tenant shall pay to Landlord each calendar year the Additional Rental (herein so called) equal to Tenant's proportionate share of (i) the Actual Operating Expenses (defined below) for the Project for such calendar year in excess of (ii) the Operating Expense Stop multiplied by the number of square feet of Rentable Area in the Building.

• Tenant, on the first day of each month during the Term, shall pay to Landlord, as Additional Rent, without demand, offset or deduction, an amount equal to 1/12 of Tenant's Proportionate Share of the budgeted Operating Expenses as calculated by Landlord (prorated for any partial month) to the extent Tenant's Proportionate Share of Operating Expenses exceeds the Operating Expense Stop.

• Tenant shall either receive a refund or be assessed an additional sum based upon the difference between Tenant's Proportionate Share of the actual Operating Expenses over and above the Operating Expense Stop and the Additional Rent payments made by Tenant during said year.

• The Minimum Rental for the Premises shall be the then fair market rental (“Market Rate”) applicable to the Premises, and the Operating Expense Stop shall be adjusted to the extent reflected in the Minimum Rental for the Extension Term.

More Definitions of Operating Expense Stop

Operating Expense Stop means the following: “The amount of the Actual Operating Expenses for the Project for the calendar year 2004 (grossed up to full occupancy).”

Operating Expense Stop means $1.75 per square foot multiplied by the Rentable Area in the Premises. Each of the foregoing definitions and basic provisions shall be construed in conjunction with the references thereto contained in the other provisions of this Lease and shall be limited by such other provisions. Each reference in this Lease to any of the foregoing definitions and basic provisions shall be construed to incorporate each term set forth above under such definition or provision.

Operating Expense Stop. The actual cost and expense paid or incurred by Landlord during calendar year 2012 (the “Base Year”) for Operating Expenses, as hereinafter defined, divided by the Rentable Area in the Project.

Operating Expense Stop. The product that results from multiplying the total amount of Operating Expenses (as hereafter defined) of the Property during the 1996 calendar year, as adjusted to provide for, among other things, a ninety-five percent (95%) occupied and fully assessed and completed Building and Property pursuant to Paragraph 4 of this Lease, by the Tenant's Share. [See Paragraph 4]

Operating Expense Stop is an amount equal to the actual Operating Expenses (as defined herein) for Calendar Year 2004 (the "Operating Expense Base Calendar Year")

Operating Expense Stop means an amount equal to the actual Operating Expenses (on a per rentable square foot basis) for the calendar year 2014 (the “Base Year”).

Operating Expense Stop. The amount set forth in Section 1.01 (14).