Definition of Tenant's Share of Basic Operating Costs


Tenant's Share of Basic Operating Costs means the sum of (i) Phase I Share of the amount, if any, by which the Basic Operating Costs for Phase I during any 12-month period ending on the anniversary date of the Phase I Base Year exceed the Phase I Base Amount for Basic Operating Costs, plus (ii) from and after the Phase II Commencement Date, Phase II Share of the amount, if any, by which the Basic Operating Costs for Phase II during any 12-month period ending on the anniversary date of the Phase II Base Year exceed the Phase II Base Amount for Basic Operating Costs.

Examples of Tenant's Share of Basic Operating Costs in a sentence

Unless Landlord in good faith disputes the results of such audit, an appropriate adjustment shall be made between Landlord and Tenant to reflect any overpayment or underpayment of Tenant's Share of Basic Operating Costs within thirty (30) days after delivery of such audit to Landlord.
In the event separate utility meters are provided to the Premises, Landlord may elect to have all charges for the utilities separately metered to the Premises billed directly to Tenant and Landlord shall make a corresponding adjustment to Tenant's Share of Basic Operating Costs.
If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant's Share of Basic Operating Costs shall be prorated for such year according to the number of days of the Lease Term in such year.
Prior to the commencement of each calendar year during the Lease Term beginning with calendar year following the Base Year for Operating Costs, Landlord may, at its option, provide Tenant with a then current estimate of Basic Operating Costs for the upcoming calendar year, and thereafter Tenant shall pay, as additional rental, in monthly installments, the estimated Tenant's Share of Basic Operating Costs for the calendar year in question.
The Second Amendment will reflect the actual percentages for Tenant's Share of Basic Operating Costs.