Utility Cap(s) definition
Utility Cap(s) or “Usage Cap(s)” means the maximum amount of utility and diesel fuel usage for which the District is responsible for direct payment under this Agreement as set forth in Schedule 11. The Company is responsible for the costs of usage above the specified usage amounts of the cap and the Company is responsible for costs, if any, for significant unjustified variations in the usage profiles for utilities established as part of Schedule 11. The Company shall reimburse the District for these excess costs after invoice by the District.
Examples of Utility Cap(s) in a sentence
Any charges in excess of the Utility Caps may be billed on a monthly or quarterly basis, in the Landlord’s sole discretion, as additional rent to the Tenant as provided in Section 2 of this Lease.
Any charges in excess of the Utility Caps may be billed on a monthly or quarterly basis, in Landlord’s sole discretion, as additional rent to Tenant as provided in Section 2 of the Terms and Conditions.