Operating Cost Pass-Throughs, Etc Sample Clauses

Operating Cost Pass-Throughs, Etc. After the Closing, Seller and Buyer will cooperate to perform a “true up” of common area maintenance charges, real estate taxes, electric, utility, insurance and other operating charges and expenses (collectively “CAM”) and reasonably determine or cause to be determined whether the CAM has been overbilled or underbilled in accordance with the provisions of the Saatchi Lease and the method of billing previously followed by Seller. Such “true up” is to be completed by Seller and Buyer no later than May 1, 2011. If following such “true up” Buyer and Seller reasonably determine or cause to be determined that there has been: (i) an overbilling of CAM and an overbilled amount has been received, then Buyer shall reimburse or cause to be reimbursed such amount to Saatchi, and Seller shall pay to Buyer the portion of such reimbursement which is properly allocable to the period prior to the Adjustment Point based on days of ownership, net of costs of collection, if any, or (ii) an underbilling of CAM, then the additional amount shall be billed or caused to be billed by Buyer to Saatchi, and any amount received by Buyer, net of costs of collection, if any, to the extent properly allocable to periods prior to the Adjustment Point based on days of ownership shall promptly be paid by Buyer to Seller. With regard to any overbillings or underbillings, Seller shall have the right to review and reasonably approve Buyer’s calculations prior to any reimbursements or xxxxxxxx being sent to Saatchi, such approval not to be unreasonably withheld or delayed. In connection with any annual “true-up” of estimated CAM paid during the course of any fiscal year, Seller shall furnish to Buyer schedules and other information to be utilized in calculating and supporting amounts due in connection with such true-up for the portion of the fiscal year elapsed prior to the Closing Date (and/or, if applicable, the prior fiscal year). Buyer agrees to calculate amounts due on the basis of the schedules and information furnished by Seller (to the extent factually accurate) along with schedules and information used by Buyer for the portion of the fiscal year elapsed after the Closing Date. As used in this Section 15.4, the term “costs of collection” shall mean and include reasonable attorneys’ fees and other costs incurred by or on behalf of Seller or Buyer, as applicable, in collecting any CAM but shall not include the regular fees payable to any property manager for the Property or any payroll or...
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Operating Cost Pass-Throughs, Etc. Common area maintenance charges, property taxes, insurance and other operating cost pass-throughs payable by tenants of the Project (collectively, the "Operating Expenses"), shall be prorated together with rentals as of the Closing Date. As a post-Closing obligation of Seller, which Seller hereby confirms will survive the Closing, the annual reconciliation of actual Operating Expenses compared to estimated Operating Expenses collected from tenants for calendar year 2002 shall be completed by Seller on or before February 28, 2003. To the extent such reconciliations show that Seller over-collected and owes a refund or under-collected and is owed additional Operating Expenses contribution, Seller shall pay or xxxx for such amounts together with the reconciliation statement. Seller shall furnish Buyer with a copy of all reconciliation statements, all back-up expense information, and payments or bills at the same time as Seller sends the same to the tenants or, if Buyer requests, Seller's reconciliation statements may be sent together with any statement of Buyer adjusting the tenants' Operating Expenses estimates for 2003. If any Operating Expenses adjustments due from tenants relative to 2002 is paid to Buyer, Buyer shall promptly forward the same to Seller.
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Operating Cost Pass-Throughs, Etc. Operating cost pass-throughs, percentage-rentals, additional rentals and other retroactive rental escalations, sums or charges (“Additional Rents”) payable by Tenants which accrue to the Closing Date but are not then due and payable, shall be prorated as of the Closing Date; provided, however, no payment thereof shall be made to Xxxxxx unless and until American Spectrum Xxxxxx Properties collects such revenues from the Tenants. American Spectrum Xxxxxx Properties shall use commercially reasonable efforts to collect such Additional Rents on Dunham’s behalf and shall pay such amounts to Xxxxxx promptly upon receipt. Xxxxxx shall also have the right to collect, after Closing, Additional Rents due to Xxxxxx from Tenants, but shall not be entitled to commence any litigation or disposition or eviction proceeding against a Tenant. Xxxxxx shall not be entitled to any such Additional Rents received by American Spectrum Xxxxxx Properties from a Tenant after the Closing Date unless such Tenant is current in its obligations under its Tenant Lease for periods occurring from and after the Closing. Such Additional Rents collected by American Spectrum Xxxxxx Properties, net of the reasonable costs of collection (including attorneys' fees), shall be applied first to any amount currently due, and, to the extent amounts are available, American Spectrum Xxxxxx Properties shall pay to Xxxxxx amounts accruing prior to the Closing, computing same on a per diem basis after amortizing them over the respective periods for which such amounts are payable. Payments of such prorated amounts collected by American Spectrum Xxxxxx Properties shall be made to Xxxxxx promptly after receipt and shall be accompanied by a report showing how same were calculated and such reasonably detailed supporting documentation evidencing the calculation of the amount due Xxxxxx.
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Operating Cost Pass-Throughs, Etc. Operating cost pass-throughs, utility charges, common area maintenance charges, administrative charges, percentage rentals, additional rentals and other retroactive rental escalations, sums or charges payable by Tenants which accrue as of the Proration Date but are not then due and payable or collected ("Pass-Throughs"), shall be prorated as of the Proration Date; provided, however, no payment or credit thereof shall be made to the applicable Seller unless and until Purchaser and/or Seller collects same from the Tenants. All such amounts payable by Tenants for the period accruing prior to the Proration Date shall belong to the applicable Seller and all such amounts payable by Tenants for
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Related to Operating Cost Pass-Throughs, Etc

  • Pass-Through Expenses (a) If a Work Order provides that a Pass-Through Expense is to be paid by LAUSD directly, Contractor will promptly provide LAUSD with the original third-party invoice for the Pass-Through Expense. If a Work Order provides that a Pass- Through Expense is to be paid by Contractor, Contractor will act as payment agent for LAUSD and will pay third-party charges comprising the Pass-Through Expense. For each Pass-Through Expense, Contractor will review the corresponding invoiced charges to determine whether the charges are proper and valid and should be paid, and will provide LAUSD with a statement to that effect. Where Contractor is paying a Pass-Through Expense on LAUSD's behalf, Contractor will provide LAUSD with a reasonable opportunity to review the applicable invoice. Following this review, Contractor will pay the amounts due and will invoice LAUSD for the charges.

  • 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.

  • Cost Pools Landlord shall have the right, from time to time, to equitably allocate some or all of the Direct Expenses for the Project among different portions or occupants of the Project (the “Cost Pools”), in Landlord’s reasonable discretion. Such Cost Pools may include, but shall not be limited to, the office space tenants of a building of the Project or of the Project, and the retail space tenants of a building of the Project or of the Project. The Direct Expenses within each such Cost Pool shall be allocated and charged to the tenants within such Cost Pool in an equitable manner.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Utility Charges Tenant shall pay or cause to be paid all charges for electricity, power, gas, oil, water and other utilities used in connection with the Leased Property.

  • Common Area Charges Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) of the total common area charges as defined below. Tenant’s percentage share of common area charges shall be paid as follows. Tenant’s estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefore, and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing services.

  • 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.

  • Tenant Improvement Allowance Items Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord only for the following items and costs (collectively the “Tenant Improvement Allowance Items”):

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