Definition of Tenants Operating Payment


Tenants Operating Payment means an amount equal to Tenants Proportionate Share of the amount by which Operating Expenses for a calendar year exceeds the Base Factor.
Sample 1

Examples of Tenants Operating Payment in a sentence

All amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not expressly denominated Fixed Rent, Tenants Tax Payment, Tenants Operating Payment, Additional Rent or Rent, shall constitute rent for the purposes of Section 502(b)(6) of the United States Bankruptcy Code.
If the Expiration Date occurs on a date other than December 31st, Tenants Tax Payment and Tenants Operating Payment for the Comparison Year in which such Expiration Date occurs shall be apportioned on the basis of the number of days in the period from January 1st to the Expiration Date.
For each Comparison Year, Landlord shall furnish to Tenant a statement setting forth Landlords reasonable estimate of Tenants Operating Payment for such Comparison Year (the Expense Estimate).
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, Tenant's Operating Payment, Additional Rent or Rent, shall constitute rent for the purposes of Section 502(b)(6) of the United States Bankruptcy Code.
If the Commencement Date is not January 1, and provided that the Commencement Date does not occur in the Base Year, Tenants Tax Payment and Tenants Operating Payment for the Comparison Year in which the Commencement Date occurs shall be apportioned on the basis of the number of days in the year from the Commencement Date to the following December 31.