Philadelphia Uses in Increased Operating Expenses and Real Estate Taxes Clause

Increased Operating Expenses and Real Estate Taxes from Lease Agreement

Increased Operating Expenses and Real Estate Taxes. If in any calendar year during the term, including all Renewal Terms, the Operating Expenses (hereinafter defined) or Real Estate Taxes (hereinafter defined) are greater than the Operating Expenses or Real Estate Taxes for the calendar year 2015 which is hereby designated as a Base Year, then in addition to the mutual base rent fixed in this Lease, the Tenant will pay a sum equal to Tenants Proportionate Share (hereinafter defined) of the amount by which such Operating Expenses or Real Estate Taxes exceed the amounts thereof for the Base Year. For purposes of snow removal, however, snow removal cost for calendar yew 2015 may be adjusted by Landlord to equalize such costs to the costs that would have resulted if snow fall during calendar year 2015 was equal to the average snow fall in the greater Philadelphia metropolitan area for the previous ten (10) years. The Base Year Operating Expenses shall also be adjusted to reflect a 100% Building occupancy rate. Landlord shall permit Tenant and its designee(s) to review and copy any documents in Landlords possession used to calculate the increase(s). Such sum will be considered as additional rent and will be paid in equal installments over the next succeeding 12 months after the determination is made by Landlord on the first day of each month in advance. If the term hereof commences after the first day of January or terminates prior to the last day of December in any year, then such additional rent resulting from any such increase(s) will be proportionately adjusted for the fraction of the calendar year involved. For purposes of this Lease, Operating Expenses and Real Estate Taxes and Proportionate Share shall have the meanings set forth in Exhibit C attached hereto and incorporated herein. A proposed 2015 Operating Expense Budget is attached hereto as Exhibit P.

Increased Operating Expenses and Real Estate Taxes from Lease Agreement

Increased Operating Expenses and Real Estate Taxes. If in any calendar year during the term, including all Renewal Terms, the Operating Expenses (hereinafter defined) or Real Estate Taxes (hereinafter defined) are greater than the Operating Expenses or Real Estate Taxes for the calendar year 2015 which is hereby designated as a Base Year, then in addition to the mutual base rent fixed in this Lease, the Tenant will pay a sum equal to Tenants Proportionate Share (hereinafter defined) of the amount by which such Operating Expenses or Real Estate Taxes exceed the amounts thereof for the Base Year. For purposes of snow removal, however, snow removal cost for calendar yew 2015 may be adjusted by Landlord to equalize such costs to the costs that would have resulted if snow fall during calendar year 2015 was equal to the average snow fall in the greater Philadelphia metropolitan area for the previous ten (10) years. The Base Year Operating Expenses shall also be adjusted to reflect a 100% Building occupancy rate. Landlord shall permit Tenant and its designee(s) to review and copy any documents in Landlords possession used to calculate the increase(s). Such sum will be considered as additional rent and will be paid in equal installments over the next succeeding 12 months after the determination is made by Landlord on the first day of each month in advance. If the term hereof commences after the first day of January or terminates prior to the last day of December in any year, then such additional rent resulting from any such increase(s) will be proportionately adjusted for the fraction of the calendar year involved. For purposes of this Lease, Operating Expenses and Real Estate Taxes and Proportionate Share shall have the meanings set forth in Exhibit C attached hereto and incorporated herein. A proposed 2015 Operating Expense Budget is attached hereto as Exhibit P.