Parcel Operating Expenses definition

Parcel Operating Expenses means all actual, out-of-pocket third-party costs and expenses of any kind or description whatsoever incurred or accrued by Sublandlord with respect to the Common Areas of the Parcel (excluding Parking Operating Expenses), including, without limitation, Additional Rent (as defined in the ▇▇▇▇▇▇▇▇▇) and rent under the ▇▇▇▇▇▇▇▇▇ applicable to the Common Areas of the Parcel. The term “Campus Operating Expenses” means all actual, out-of-pocket third-party costs and expenses of any kind or description whatsoever incurred or accrued by Sublandlord with respect to the areas of the Project (defined in the ▇▇▇▇▇▇▇▇▇) operated by Sublandlord (or Sublandlord’s affiliates) and which benefit the Parcel (“Campus Common Areas”) including, without limitation, any costs incurred in connection with Sublandlord’s obligations under the Stormwater Agreement. Campus Operating Expenses will not include any expenses for services or amenities which do not benefit the Parcel or Subtenant (including, but not limited to, landscaping located on other parcels of the Project). The term
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Examples of Parcel Operating Expenses in a sentence

  • If the amount demanded by Landlord for Building 2 Parcel Operating Expenses and Tenant’s Share of the East Parking Area Operating Expenses differs from the actual amount thereof by more than 5% of the demanded amount, then the cost of such audit shall be paid by Landlord.

  • If the amount demanded by Landlord for Building 1 Parcel Operating Expenses and all or Tenant’s Share of the East Parking Area Operating Expenses differs from the actual amount thereof by more than 5% of the demanded amount, then the cost of such audit shall be paid by Landlord.

  • Tenant shall have the right once each calendar year, at its expense, exercisable upon written notice to Landlord within sixty (60) days of Tenant’s receipt of Landlord’s annual statement, to audit, at Landlord’s office during normal business hours, Landlord’s books and records as they relate to Building 2 Parcel Operating Expenses and Tenant’s Share of the East Parking Area Operating Expenses.

  • Tenant’s obligation to pay Base Monthly Rent and Building 1 Parcel Operating Expenses and East Parking Area Operating Expenses (each as defined below in Section 8) shall be prorated for any partial month at the commencement and expiration of the Lease Term.

  • Tenant shall have the right once each calendar year, at its expense, exercisable upon written notice to Landlord within sixty (60) days of Tenant’s receipt of Landlord’s annual statement, to audit, at Landlord’s office during normal business hours, Landlord’s books and records as they relate to Building 1 Parcel Operating Expenses and all or Tenant’s Share of the East Parking Area Operating Expenses.

  • Subtenant’s share of (i) Parcel Operating Expenses (defined below) is one hundred percent (100%) (“Parcel Share”), (ii) Parking Operating Expenses (defined below) is ninety percent (90%) (“Parking Share”) and (iii) Campus Operating Expenses (defined below) is six and 86/100 percent (6.86%) (“Campus Share”, collectively with the Parcel Share and Parking Share, “Subtenant’s Share”).

  • Tenant’s obligation to pay Base Monthly Rent and Building 2 Parcel Operating Expenses and East Parking Area Operating Expenses (each as defined below in Section 8) shall be prorated for any partial month at the commencement and expiration of the Lease Term.