OPERATING COST ADJUSTMENT Sample Clauses

OPERATING COST ADJUSTMENT. (a) If in any calendar year the Operating Cost is greater than the Estimated Operating Cost, Tenant shall pay to Landlord as additional rent an amount equal to such excess. Any amount payable by Tenant to Landlord under this Section 6 shall be paid within thirty (30) days after written notice thereof by Landlord, such notice to be given by Landlord not later than March 31 of each calendar year. Landlord may, either prior to the beginning of or during any calendar year, compute a bona fide estimate of Operating Cost for such calendar year. Upon receipt of written notice thereof, Tenant shall pay to Landlord, in monthly installments simultaneously with payments of Base Rent under Section 4(a), one-twelfth of such new estimate of Operating Cost. An annual adjustment shall be made between the parties within thirty (30) days after Landlord's determination of Operating Cost. Any amounts of excess estimated Operating Cost which Landlord is required to return may be offset by accrued amounts payable by Tenant to Landlord. If the term of this Lease ends before the end of a calendar year, any amount payable by Tenant or Landlord in respect of that year under this Section 6 shall be adjusted proportionately on a daily basis utilizing the previous year's determination of Operating Costs and the obligation to pay such amount shall survive the expiration or earlier termination of this Lease.
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OPERATING COST ADJUSTMENT. In addition to the rate adjustments provided for in Section 6. A., at any time during the term of this Agreement, the Service Provider may petition the Town for additional rate and price adjustments at reasonable times on the basis of material or unusual changes in its cost of operations due to, or directly resulting from, increased fuel costs, ad valorem taxes, governmental fees or regulations, or revised federal, state or local laws, ordinances or regulations. At the time of any such petition, the Service Provider shall provide the Town with documents and records in reasonable form and sufficient detail to reasonably establish the necessity of any requested rate adjustment.
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OPERATING COST ADJUSTMENT. Effective as of the Effective Date, Tenant's share of the Operating Costs for the Building is 75.95%. In the event that the Effective Date is not the first day of the calendar year, Tenant shall pay a prorated amount (number of days in the calendar year after the Effective Date to 365) of any annual Operating Costs adjustment that shall be due for the Additional Premises plus 100% of any annual Operating Cost adjustment for the remainder of the Premises for the calendar year in which the Effective Date falls and 100% of any annual Operating Cost adjustment for the entire Premises in subsequent years.
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OPERATING COST ADJUSTMENT. (A) The operating cost adjustment will be determined by comparing Owner’s actual operating costs, based on its normal operating costs in the ordinary course of business rather than those directly resulting from Owner’s negligence, with Owner’s modeled costs for each contract year contained in Schedule F. The model is based upon the following cost components: • Crew Cost • Routine Maintenance • Major Maintenance • Insurance • Supplies
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OPERATING COST ADJUSTMENT. 6 2.5 AMI Consent...................................................6
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OPERATING COST ADJUSTMENT. The Annual Base Rental shall be subject to periodic adjustment at successive annual intervals for increases in Annual Operating Cost in accordance with the following provisions:
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OPERATING COST ADJUSTMENT. In May of each year, except the first year (so, the first opportunity to petition for a CPI increase starts one [1] year and [5] months after the Agreement’s effective date), of this Agreement, the Service Provider upon petitioning the City, shall be entitled to rate and price adjustments on the basis of Standard CPI rate increases equal to the increases in the Water, Sewer, and Trash Collection Services expenditure category of CPI-U (non-seasonally adjusted, rolling 12-month average) published by the U.S. Bureau of Labor Statistics (see xxx.xxx.xxx/xxx/ for more information). These rate increases will go into effect in October, the first month of the City’s fiscal year, 5 months after a petition is submitted.
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OPERATING COST ADJUSTMENT. In addition to the rate adjustments provided for above, at any time during the term of this Agreement, the Service Provider may petition the Association for additional rate and price adjustments at reasonable times on the basis of material or unusual changes in its cost of operations. At the time of any such petition, the Service Provider shall provide the Association with documents and records in reasonable form and sufficient detail to reasonably establish the necessity of any requested rate adjustment. The Association shall have the right to determine the validity of any request for a change in rates.
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OPERATING COST ADJUSTMENT. Factors (OCAF)  Determine the amount of OCAF in accordance with HUD requirements;  Analyze adjustments of the owner utility allowance schedule, if applicable;  Calculate the amount of rent adjustment and provide written notification to the owner;  Validate comparability study if submitted by the owner to support a contract renewal request;  Verify accurate, timely completion and submission of adjusted rent schedule by the owner; and  Enter data into the appropriate HUD system.
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Related to OPERATING COST ADJUSTMENT

  • CPI Adjustment In this Agreement, “CPI-Adjusted” in reference to an amount means that amount is adjusted under the following formula: N  C  (1 CPIn  CPIc ) CPIc where: ”N” is the new amount being calculated; and “C” is the current amount being adjusted; and

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Audit Adjustment If any audit of the records, books or accounts relating to the Properties discloses an overpayment or underpayment of Management Fees, Owner or Manager shall promptly pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment of Management Fees for any fiscal year of more than the correct Management Fees for such fiscal year, Manager shall bear the cost of such audit.

  • Operating Costs The Assuming Institution agrees, during its period of use of any Leased Data Management Equipment, to pay to the Receiver or to appropriate third parties at the direction of the Receiver all operating costs with respect thereto and to comply with all relevant terms of any existing Leased Data Management Equipment leases entered into by the Failed Bank, including without limitation the timely payment of all rent, taxes, fees, charges, maintenance, utilities, insurance and assessments.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, ("Code")), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers ("Effective Rate") is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • Base Year The period beginning on 1 April of one year and ending on 31 March of the following year.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Operating Expenses Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant hereby agrees to pay one hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term Operating expenses shall include all costs to Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

  • Direct Expenses 1. Fees and expenses of its directors (including the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

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