Operating Expenses Defined. “Operating Expenses” means all costs and expenses incurred or accrued in each calendar year in connection with the ownership, operation, maintenance, management, repair and protection of the Property which are directly attributable or reasonably allocable to the Building, including Landlord’s personal property used in connection with the Property and including all costs and expenditures relating to the following:
Operating Expenses Defined. Operating Expenses", as used in this Lease, means all amounts paid or accrued by Landlord per calendar year for the operation and maintenance of the Project or the land on which it is situated, and the equipment, fixtures and facilities used in connection therewith, including the parking area. Operating Expenses includes, but is not limited to the cost of utilities, building supplies, janitorial and window cleaning services, normal maintenance and repair of the Project and the common areas (including elevators, if any, and the periodic refurbishing of the common areas), heating and air-conditioning, waste disposal, lighting, maintenance of fire protection and security systems, planting and landscaping, landscape maintenance, taxes (defined below), insurance premiums (including boiler and machinery, fire and extended coverage, earthquake, flood, rental and public liability insurance), and all labor, supplies, materials, tools, professional fees, management fees, wages, salaries and payroll burden of the Project manager, clerical maintenance and other employees directly associated with the operation of the Project, (including Project office rent or rental value, office supplies and materials, and all other items constituting operating and maintenance costs in connection with the Project and land according to generally accepted accounting principles). Operating Expenses shall not include the following: (a) depreciation of the Project, (b) leasing commissions, (c) repairs and restorations paid for by the proceeds of any insurance policy or (d) construction of improvements of a capital nature, except for the cost, or a portion thereof properly allocable to the Project, of any capital improvements made to the Project specifically to reduce Operating Expenses, or required to be made to the Project specifically to reduce Operating Expenses, or required to be made to the Project under any governmental law or regulation not applicable to the Project at the time it was constructed. Such cost shall be amortized over such reasonable period of time as Landlord shall determine, (e) ground rent, (f) debt service, (g) income and franchise taxes other than that portion, if any, of income and franchise taxes which may hereinafter be assessed and paid in lieu of or as a substitute in whole or in part for Taxes.
Operating Expenses Defined. (a) As used herein, the term "
Operating Expenses Defined. The term “Operating Expenses” shall mean the following:
Operating Expenses Defined. As used herein, the term "Operating -------------------------- Expenses" shall mean all expenses, costs and disbursements of every kind and nature, except as specifically excluded otherwise herein, which Landlord incurs because of or in connection with the ownership, maintenance, management and operation of the Project, including, if the Project is less than ninety-five percent (95%) occupied, all additional costs and expenses of operation, management and maintenance of the Project which Landlord determines that it would have paid or incurred during any Calendar Year if the Project had been ninety-five percent (95%) occupied. Operating Expenses may include, without limitation, all costs, expenses and disbursements incurred or made in connection with the following:
Operating Expenses Defined. The term "Operating Expenses" means and --------------------------- includes the total reasonable operating expenses related to the Warehouse and the Warehouse Site (the Warehouse and the Warehouse Site collectively, the "Real Estate".) which are incurred by the Landlord, and shall include, without limitation, taxes and assessments levied, assessed or imposed at any time by any municipal, county, state or federal government or any governmental authority, upon or against the Real Estate ("Real Estate Taxes"), and also any tax or assessment levied, assessed or imposed at any time by any governmental authority in connection with the receipt of any income or rents from the Warehouse and/or Warehouse Site to the extent that any such tax or assessment is in lieu of all or a portion of any of the Real Estate Taxes, personal property and ad valorem taxes, common area heat and fuel, costs of water and sewage, reasonable management expenses, labor, including all wages, salaries, Social Security taxes which may be levied upon such wages and salaries, supplies, repairs, maintenance, painting, insurance, trash removal, and other items properly constituting direct operating maintenance, and repair costs according to standard accounting practices. The term "Operating Expenses" does not mean or include depreciation of the Building or equipment, interest expense on borrowed money of any form or nature, costs of maintaining the Landlord's corporate or business existence, franchise taxes, federal or state income taxes, expenditures required to be capitalized for federal income tax purposes, office expenses or salaries of the Landlord's executive officers, commissions and fees paid for the rental of the Building, or any parts thereof, or tenant improvements or costs and expenses attributable to leasing other spaces in the Building to other tenants including but not limited to legal fees and costs incurred in negotiating or enforcing leases of other tenants, fines assessed against Landlord for violation of any other tenant leases, and expenses attributable to repairs to other tenant spaces by misuse of other tenants. Tenant or its agents shall be permitted to audit all books and records pertaining to Operating Expenses in the offices of the Landlord once each year during normal business hours, upon prior written request.
Operating Expenses Defined. 9 7.3 Exclusions from Operating Expenses......................................................11 7.4
Operating Expenses Defined. As used herein, the term "Operating Expenses" shall mean all expenses, costs and disbursements of every kind and nature, except as specifically excluded otherwise herein, which Landlord incurs because of or in connection with the ownership, maintenance, management and operation of the Project, determined in accordance with sound management accounting principles and not to exceed 100% of the amounts actually incurred by Landlord; provided that (i) if the Building, Phase II Buildings, or Project is less than 95% occupied, all additional costs and expenses of ownership, operation, management and maintenance of the Building or Project, as applicable, that vary with occupancy, which Landlord determines that it would have paid or incurred during any Calendar Year if the Building, Phase II Buildings or Project, as applicable had been 95% occupied; and (ii) if the Building, Phase II Buildings or Project, as applicable is equal to or greater than 95% occupied, all costs and expenses of ownership, operation, management and maintenance of the Building or Project, as applicable, that vary with occupancy, which Landlord determines that it would have paid or incurred during any Calendar Year if the Building, Phase II Buildings or Project, as applicable, had been 100% occupied. With respect to Operating Expenses shared among the Building and one or more Other Buildings or relating to amenities or services provided only to, or used on a disproportionate basis by, Tenant or other specific tenants, Landlord shall allocate on an equitable basis such Operating Expenses to the Building and Other Buildings or among specific tenants of the Project, as determined in Landlord’s reasonable discretion; provided that (a) in accordance with the Phase II Easement Agreement, fifty percent (50%) of the Operating Expenses of the Amenity Building and the Phase II Common Area shall be allocated to the Building, (b) in accordance with the Sports Park Easement Agreement, twenty five percent (25%) of the Operating Expenses of the Sports Park shall be allocated to the Building and (c) in accordance with the Phase II Easement Agreement, forty percent (40%) of the Operating Expenses of the Phase II Parking Garage shall be allocated to the Building. Operating Expenses may include, without limitation, all costs, expenses and disbursements incurred or made in connection with the following:
Operating Expenses Defined. The term "Operating Expenses" shall mean those reasonable expenses paid by the Lessor in respect to the Building for those repairs set forth herein, charges for electricity, water, gas, sanitary sewer and other public utilities, snow removal, landscaping expenses, Building Common Area utilities, premiums for casualty insurance on the Building, and the cost, as reasonably amortized by the Lessor, of any capital improvement made after the first Lease Year which reduces other Operating Expenses, but in an amount not to exceed such reduction for the relevant year. Operating Expenses shall not include: (i) the cost and expense to Lessor for Major Repairs as defined herein), (ii) the cost to the Lessor of any work or service performed in any instance for any tenant (including the Lessee)at the cost of such tenant, (iii) the amortization of any capital improvement without Lessee's consent, (iv) Lessor's depreciation of the Building, debt service, capital expenditures other than included above, taxes on income, franchise taxes, payments to affiliates of Lessor not expressly approved by Lessee, management salaries or fees, tenant allowances and other expenditures in connection with the preparation of space for use by a tenant or a prospective tenant and casualty loss or damage and repairs and other expenses related thereto.
