Uncontrollable Costs definition
Examples of Uncontrollable Costs in a sentence
During the Term, Landlord will maintain books of account which will be open to Tenant and its representatives at all reasonable times so that Tenant can determine that such Uncontrollable Costs have, in fact, been paid or incurred; provided, however, that Tenant will not be permitted to perform any such inspection and/or audit more than 1 time in any rolling 12 calendar month period.
If it is determined that Tenant has overpaid or underpaid, as may be applicable, by more than 3% of Tenant’s Share of Uncontrollable Costs, Landlord will pay Tenant’s actual and reasonable costs for such audit; provided, however, that in no event will Landlord be obligated pay Tenant more than $2,500.00 for such audit.
Accordingly, any review of Actual Costs against the Approved Budget, or Flex Budget, as applicable, must take into account the extent to which any Excess Costs were caused by such Uncontrollable Costs.
If and to the extent at the conclusion of the annual reconciliation there are determined to be Excess Costs that were not the result of Uncontrollable Costs, then C&S will not be required to pay for that portion of the Excess Costs and such annual reconciliation will take into account any necessary adjustments to reimburse C&S or reduce any amounts payable to Penn Traffic for that portion of such Excess Costs.
Increases in Operating Costs shall not exceed Five Percent (5%) for each year of the Lease for Controllable Costs (as defined below), but there shall be no cap on Uncontrollable Costs.
For purposes of this Section “Uncontrollable Costs” means Landlord’ Operating Cost component costs for snow and ice removal, insurance, Taxes and utilities for the Operating Year in question; and “Controllable Costs” means all of Landlord’s Operating Costs for the Operating Year in question minus Uncontrollable Costs.
Notwithstanding anything to the contrary contained in this Article 6, for purposes of calculating Tenant's Proportionate Share of Operating Expenses, expressly excluding Uncontrollable Costs (as hereinafter defined), increases in Operating Expenses in any Adjustment Year compared to the immediately preceding Adjustment Year during the Term shall be subject to a five and one-half percent (5.5%) compounding cap (the "Expense Cap"), an example of which is shown on Exhibit L.
Notwithstanding anything to the contrary set forth herein, from and after the first full Lease Year following the first Base Year (Expenses), except for Uncontrollable Costs (as hereinafter defined), and subject to the gross-up requirement in the last sentence of Section 4.3 of the Lease, in no event shall Expenses increase at a rate that is greater than five percent (5%) per annum, on a cumulative, compounding basis, over the Term.
The Uncontrollable Costs included in this price are: • Fuel * relating to the 3 Johannesburg ground teams.