Definition of Tenant's Proportionate Share of Common Operating Expenses


Tenant's Proportionate Share of Common Operating Expenses means, for each calendar year (or portion thereof), 14.09% of the Operating Expense Amount (defined below), which percentage is calculated by dividing the rentable area of the Premises (numerator) by the rentable area of the Building (denominator), and expressing the fraction as a percentage. As of the date hereof, the rentable area of the Building is 37,864 square feet. As used herein, the "Operating Expense Amount" shall mean, for each calendar year, or portion thereof, the amount by which the Common Operating Expenses exceeds the Base Year Common Operating Expenses.
Sample 1

Examples of Tenant's Proportionate Share of Common Operating Expenses in a sentence

Common Operating Expenses and Tenant's Proportionate Share of Common Operating Expenses shall be calculated on an accrual basis and estimated in accordance with Section 3.4 below.
During the Lease Term, Tenant shall pay to Landlord as additional rent Tenant's Proportionate Share of Common Operating Expenses (as hereinafter defined) for the ensuing calendar year in excess of the actual Common Operating Expenses during the calendar year 2006 (herein called the "Base Year").
If Tenant's Proportionate Share of Common Operating Expenses for such calendar year proves to be greater than the estimated amount, Landlord shall invoice Tenant for the deficiency as soon as practicable after the amount of underpayment has been determined, and Tenant shall pay such deficiency to Landlord within fifteen (15) days following its receipt of such invoice.
Tenant's Proportionate Share of Common Operating Expenses shall be prorated as necessary for any year during which this Lease is in effect for less than a full twelve month calendar year.
The Premises shall be 4,431 square feet and Tenants Proportionate Share of Common Operating Expenses shall be 11.70%.