Common use of Operating Expenses Clause in Contracts

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

Appears in 10 contracts

Samples: Real Estate Lease (TitleMax of Virginia, Inc.), Real Estate Lease (TitleMax of Virginia, Inc.), Real Estate Lease (TitleMax of Virginia, Inc.)

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Operating Expenses. During Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership 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. If requested, and Tenant hereby agrees to pay Landlord on the first day one hundred percent (100%) of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of any and all Operating Expenses due from Tenant, such deficiency 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 be paid include all costs to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining Building and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlrelated parking areas, and removal of trashshall include, garbage without limitation, real estate and other refuse; maintenancepersonal property taxes and assessments, repair and replacement of utility systems serving any common areasmanagement fee, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewerheating, electricity, water, waste disposal, sewage, operating materials and gas; janitorialsupplies, sweeping service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning servicesand custodial, trash bin rentalssecurity, trash pickup feesinsurance, licensesthe cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, permits and inspection fees; all other direct operating costs of operating and maintaining the Building and related parking lot painting and restriping; plantingareas, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and unless expressly excluded from operating expenses; all labor and supplies required by . 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 administrative 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 directly attributable theretoof items and services for which Tenant reimburses Landlord or pays third persons directly.

Appears in 10 contracts

Samples: Commercial Lease Contract, Commercial Lease Contract Triple Net, Commercial Lease Contract

Operating Expenses. During Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership 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. If requested, and Tenant hereby agrees to pay Landlord on the first day one hundred percent (100%) of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of any and all Operating Expenses due from Tenant, such deficiency 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 be paid include most costs to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining Building and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlrelated parking areas, and removal of trashshall include, garbage and other refuse; maintenancewithout limitation, repair and replacement of utility systems serving any common areasassessments, including watermanagement fee, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewerheating, electricity, water, waste disposal, sewage, operating materials and gas; janitorialsupplies, sweeping service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning servicesand custodial, trash bin rentalssecurity, trash pickup feesinsurance, licensesthe cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, permits and inspection fees; all other direct operating costs of operating and maintaining the Building and related parking lot painting and restriping; plantingareas, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and unless expressly excluded from operating expenses; all labor and supplies required by . 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 administrative 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 directly attributable theretoof items and services for which Tenant reimburses Landlord or pays third persons directly.

Appears in 3 contracts

Samples: Commercial Lease Contract Triple Net, Commercial Lease Contract Triple Net, Commercial Lease Contract Triple Net

Operating Expenses. During The amount of the term Annual Operating Expenses set forth in Section 1(g) above represents Tenant’s Share of the estimated Operating Expenses for the calendar year in which the Term commences. Landlord may adjust such amount from time to time if the estimated Annual Operating Expenses increase or decrease; Landlord may also invoice Tenant separately from time to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses. By April 30th of each year (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the Property), Landlord shall provide Tenant with a statement of Operating Expenses for the preceding calendar year or part thereof. Within 30 days after delivery of the statement to Tenant, Landlord or Tenant shall pay to the other the amount of any overpayment or deficiency then due from one to the other or, at Landlord’s option, Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by may credit Tenant’s account for any overpayment. If Tenant does not give Landlord in connection notice within 30 days after receiving Landlord’s statement that Tenant disagrees with the maintenance, repair, operation, management, or ownership of statement and specifying the Premises. If requesteditems and amounts in dispute, Tenant agrees shall be deemed to have waived the right to contest the statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord on the first day of each calendar monthmay, together with the payment of rentin its reasonable discretion, such amount as Landlord estimates determine from time to time the method of computing and allocating Operating Expenses, including the method of allocating Operating Expenses to various types of space within the Building to reflect any disparate levels of services provided to different types of space. If the Building is not fully occupied during any period, Landlord may make a reasonable adjustment based on occupancy in computing the Operating Expenses for such period so that Operating Expenses are computed as necessary though the Building had been fully occupied. The Building is intended to pay such expensesbe part of a multi-building development on the Property and adjacent properties (the “Development”). Landlord shall xxxx Tenant annually after may, at its option, treat the end entire Development, or any portion thereof, as a single unified project for purposes of each year for determining and allocating certain Operating Expenses that relate to the entire Development, such expensesas real estate taxes. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of such event, such Operating Expenses due from Tenant, such deficiency shall be paid as Landlord elects to Landlord within ten (10) days after demand therefore. In allocate based on the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” entire Development shall include the cost of maintaining casualty aggregate amount thereof for all buildings on the Property and public liability insurance covering adjacent properties and their attendant common areas included in the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlunified project, and removal Tenant’s Share with respect to such Operating Expenses shall be equal to a fraction, the numerator of trash, garbage which is the number of rentable square feet of the Premises and other refuse; maintenance, repair the denominator of which is the number of rentable square feet of all buildings on the Property and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoadjacent properties.

Appears in 3 contracts

Samples: Lease Agreement (Free for All, Inc), Lease Agreement (Free for All, Inc), Lease Agreement (Free for All, Inc)

Operating Expenses. During Tenant will pay directly all Operating Expenses of the term of this Lease Tenant Premises in a timely manner and prior to delinquency, unless otherwise specified herein that Landlord shall pay to Landlord as additional rent all ad valorem taxes directly such Operating Expenses and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates receive reimbursement from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expensesTenant. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of that Tenant fails to pay any Operating Expenses due from Tenant, such deficiency shall be paid to Landlord Expense within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from written notice by Landlord to Tenant, such overpayment shall and without being under any obligation to do so and without hereby waiving any default by Tenant, Landlord may pay any delinquent Operating Expenses. Any Operating Expense paid by Landlord and any expenses reasonably incurred by Landlord in connection with the payment of the delinquent Operating Expense may be applied billed immediately to Tenant’s next monthly installment of Operating Expenses , or at Landlord's option and Rentupon written notice to Tenant, may be deducted from the Security Deposit. As used herein, the term “"Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and " means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of managingthe Premises including, operating and maintaining the Premises, including but not limited to: costs of constructinginsurance, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of the foundation, roof, walls, heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility systems serving any common and safety systems, paving and parking areas, including water, sanitary sewer roads and storm water lines and other utility lines, pipes and conduitsdriveways; costs maintenance of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, exterior areas such as gardening and landscaping, snow removal and signage; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repairrepair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; other general painting; lighting; cleaning; refuse removal; security; utilities for, or the maintenance of, outside areas; building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation and or maintenance costs and expenses; all labor and supplies required by of the foregoingPremises; and administrative costs directly attributable theretofees for required licenses and permits.

Appears in 3 contracts

Samples: Lease Agreement (Ascend Wellness Holdings, LLC), Lease Agreement (Ascend Wellness Holdings, LLC), Purchase and Sale Agreement and Joint Escrow Instructions (Innovative Industrial Properties Inc)

Operating Expenses. During Tenant will pay directly all Operating Expenses of the term of this Lease Tenant Premises in a timely manner and prior to delinquency, unless otherwise specified herein that Landlord shall pay directly such Operating Expenses and receive reimbursement from Tenant. In the event that Tenant fails to pay any Operating Expense within fifteen (15) days after written notice by Landlord as additional rent all ad valorem taxes to Tenant, and operating expenses without being under any obligation to do so and other charges of every kind and nature (“without hereby waiving any default by Tenant, Landlord may pay any delinquent Operating Expenses”) . Any Operating Expense paid by Landlord and any expenses reasonably incurred or paid by Landlord in connection with the maintenance, repair, operation, managementpayment of the delinquent Operating Expense may be billed immediately to Tenant, or ownership of the Premises. If requested, Tenant agrees at Landlord’s option and upon written notice to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall may be paid to Landlord within ten (10) days after demand thereforededucted from the Security Deposit. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of managingthe Premises including, operating and maintaining the Premises, including but not limited to: costs of constructinginsurance, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of the foundation, roof, walls, heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility systems serving any common and safety systems, paving and parking areas, including water, sanitary sewer roads and storm water lines and other utility lines, pipes and conduitsdriveways; costs maintenance of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, exterior areas such as gardening and landscaping, snow removal and signage; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repairrepair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; other general painting; lighting; cleaning; refuse removal; security; utilities for, or the maintenance of, outside areas; building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Premises; and maintenance costs fees for required licenses and expenses; all labor and supplies required by permits. Notwithstanding the foregoing; and administrative costs directly attributable thereto, Landlord may not engage in any activity (including paying any expenses) to the extent such activity is prohibited by Applicable Law or that could reasonably be expected to endanger Tenant’s maintenance of the License.

Appears in 3 contracts

Samples: Lease Agreement (Innovative Industrial Properties Inc), Lease Agreement (Innovative Industrial Properties Inc), Lease Agreement (Innovative Industrial Properties Inc)

Operating Expenses. During Tenant will pay directly all Operating Expenses of the term of this Lease Tenant Premises in a timely manner and prior to delinquency, unless otherwise specified herein that Landlord shall pay directly such Operating Expenses and receive reimbursement from Tenant. In the event that Tenant fails to pay any Operating Expense within fifteen (15) days after written notice by Landlord as additional rent all ad valorem taxes to Tenant, and operating expenses without being under any obligation to do so and other charges of every kind and nature (“without hereby waiving any default by Tenant, Landlord may pay any delinquent Operating Expenses”) . Any Operating Expense paid by Landlord and any expenses reasonably incurred or paid by Landlord in connection with the maintenance, repair, operation, managementpayment of the delinquent Operating Expense may be billed immediately to Tenant, or ownership at Landlord's option and upon written notice to Tenant, may be deducted from the Security Deposit. "Operating Expenses" means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of the Premises. If requestedPremises including, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructinginsurance, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of the foundation, roof, walls, heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility systems serving any common and safety systems, paving and parking areas, including water, sanitary sewer roads and storm water lines and other utility lines, pipes and conduitsdriveways; costs maintenance of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, exterior areas such as gardening and landscaping, snow removal and signage; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repairrepair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; other general painting; lighting; cleaning; refuse removal; security; utilities for, or the maintenance of, outside areas; building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Premises; and maintenance costs fees for required licenses and expenses; all labor and supplies required by permits. Notwithstanding the foregoing; and administrative costs directly attributable thereto, Landlord may not engage in any activity (including paying any expenses) to the extent such activity is prohibited by Applicable Law or that could reasonably be expected to endanger Tenant's maintenance of the License.

Appears in 2 contracts

Samples: Lease Agreement (Innovative Industrial Properties Inc), Lease Agreement (Innovative Industrial Properties Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord monthly, as additional rent all ad valorem taxes and operating expenses and other charges Additional Rent, one-twelfth (1/12) of every kind and nature (“the Operating Expenses”) incurred or paid Expenses Excess based on estimates provided by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time and subject to reconciliation as necessary provided in Section 8 below. Notwithstanding the foregoing, Tenant shall have no obligation to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during Percentage of the year shall be less than annual Operating Expenses which are in excess of the amount of Operating Expenses due from Tenant, such deficiency applicable to the calendar year 2023 during the first twelve (12) months of the Term. No credit or payment shall be paid due to Landlord within ten (10) days after demand therefore. In Tenant in the event Operating Expenses for any year are less than Base Operating Expenses. “Operating Expenses” means and includes all expenses, costs, fees and disbursements paid or incurred by or on behalf of Landlord for managing, operating, maintaining, improving, servicing or repairing the aggregate Buildings or Property, all as determined in accordance with sound real estate accounting and management practices consistently applied, and all associated plumbing, heating, ventilation, air conditioning, lighting, electrical, mechanical and other systems, including, without limitation, costs of: performing the Landlord’s obligations described in Section 13 below; janitorial services, the repair, maintenance, repaving and re-striping of Tenant’s installments during any parking and dock areas; any installation or improvement required by reason of any law, ordinance or regulations (provided such law, ordinance or regulation was not violated by ongoing conditions present prior to the year Commencement Date); improvements that reduce Operating Expenses (provided, the cost of such improvements shall be more reasonably amortized (including interest on the unamortized cost at the lesser of: (i) the Prime Rate plus five percent (5%) per annum, or (ii) the Default Rate in effect at the time such expenditure is placed in service) over its useful life as Landlord shall reasonably determine in accordance with standard real estate management and accounting principles, consistently applied, and only the current amortized portion of such expenditure shall be included in Operating Expenses for each applicable year in which the expenses are incurred, and in no event shall the amortized amount of the cost which Landlord may include in Operating Expenses exceed $35,000.00 in any particular year in which the expenses are incurred; providing any services or amenities such as conference rooms, parking garage, cafeteria, or gymnasium exterior maintenance, repair and repainting; landscaping; snow removal; utilities (including common area electricity); management fees (but any such management fees shall not exceed five percent (5%) of the gross revenues of the Property); supplies and sundries; sales or use taxes on supplies or services; charges or assessments under any easement, license, declaration, restrictive covenant or association; legal and accounting expenses; Insurance Premiums (as defined below); compensation and all fringe benefits, worker’s compensation insurance premiums and payroll taxes paid to, for or with respect to all persons engaged in the operation, administration, maintenance and repair of the Property (provided that such persons hold a title generally considered to be no higher in rank than Building manager or Building engineer); and any other expenses expressly provided in this Lease to be included in Operating Expenses. Landlord may equitably allocate any item of Operating Expenses that benefits multiple Buildings on the Property among such Buildings. Landlord may equitably allocate any item of Operating Expenses among different portions or occupants of the Buildings or Property based on use or other considerations as determined by Landlord in Landlord’s reasonable discretion. If there is less than ninety five percent (95%) occupancy of the Buildings during any period, Landlord may adjust those Operating Expenses that are affected by variations in occupancy levels to the amount of Operating Expenses that would have been incurred had there been ninety five percent (95%) occupancy. Notwithstanding the foregoing, Operating Expenses shall not include costs of alterations to the premises of other tenants of the Property, depreciation charges, interest and principal payments on mortgages, ground rental payments and real estate brokerage and leasing commissions; costs incurred for Landlord’s general overhead and any other expenses not directly attributable to the operation and management of the Building or the Property; costs of selling or financing any of Landlord’s interest in the Property; costs incurred by Landlord for the repair of damage to the Property to the extent that Landlord is reimbursed by insurance proceeds or by a third party; Taxes; the costs of services and utilities separately chargeable to individual tenants of the Building; costs of reasonable attorneys' fees and other costs and expenses incurred in connection with negotiations or disputes with present or prospective tenants or other occupants of the Property; any costs expressly excluded from Operating Expenses elsewhere in this Lease; costs, including permit, license and inspection costs, incurred in renovating or otherwise improving, decorating, or redecorating rentable space (including vacant rentable space but excluding common areas) for tenants or other occupants in the Building; tax penalties incurred as a result of Landlord’s negligence, inability or unwillingness to make payments or file returns when due; costs arising from Landlord’s charitable or political contributions; costs incurred due from Tenantto the violation by Landlord of the terms and conditions of any lease of space in the Building; the wages and benefits of any employee who does not devote substantially all of his or her employed time to the Property unless such wages and benefits are prorated to reflect time spent on operating and managing the Property vis-à-vis time spent on matters unrelated to operating and managing the Property; costs of additions, such overpayment alterations, repairs or improvements, equipment replacement and all other items which under standard real estate management and accounting practices, consistently applied are properly classified as capital expenditures, except those costs set forth in the immediately preceding paragraph, and except as provided in the following clause; depreciation and amortization, except as expressly provided in the immediately preceding paragraph, and except on materials, tools, supplies and vendor type equipment purchased by Landlord to enable Landlord to supply services Landlord might otherwise contract for with a third party, and when depreciation or amortization is permitted or required, the item shall be applied amortized over its useful life in the manner described in the immediately preceding paragraph, together with interest on the unamortized costs at the Default Rate; rentals for items (except when needed in connection with normal repairs and maintenance of permanent systems) which if purchased, rather than rented, would constitute a capital item which is specifically excluded hereinabove (excluding, however, equipment not affixed to the Building or the Property which is used in providing janitorial or similar services); costs (including, without limitation, fines, penalties, interest, and costs of repairs, replacements, alterations and/or improvements) incurred in bringing the Property into compliance with building codes and any other Applicable Law (as defined in Section 12 below) in effect as of the Commencement Date and as interpreted by applicable governmental authorities as of such date, including, without limitation, any costs to correct building code violations pertaining to the initial design or construction of the Building or any other improvements to the Property, to the extent such violations exist as of the Commencement Date under any applicable building codes in effect and as interpreted by applicable governmental authorities as of such date; marketing costs including any reasonable attorneys' fees in connection with the negotiation and preparation of letters, deal memos, letters of intent, agreements, leases, subleases and/or assignments, space planning costs, and other costs and expenses (other than Taxes) incurred in connection with sale/transfer/lease, sublease and/or assignment negotiations and transactions with present or prospective purchasers, tenants or other occupants of the Property; costs associated with the operation of the business of the partnership or entity which constitutes Landlord as the same are distinguished from the costs of operation of the Building and/or the Property, including partnership accounting and legal matters, costs of defending any lawsuits with or claims by any mortgagee (except as the actions of Tenant may be in issue), costs of selling, syndicating, financing, mortgaging or hypothecating any of Landlord's interest in the Building or the Property, costs of any disputes between Landlord and its employees (if any) not engaged in Building and/or Property operation, disputes of Landlord with the manager of the Property, or outside fees paid in connection with disputes with other tenants (except to the extent the expenditure of such outside fees generally benefit all tenants of the Building, and Landlord included such category of expenses or similar types of expenses, if actually incurred, in the calendar year 2023); costs of cleanup, removal and/or remediation of any Hazardous Substances (as defined below) in, on or under the Building or Property required to comply with any Environmental Laws (as defined below) which are incurred as a result of (A) the introduction by Landlord of any such Hazardous Substances in, on or under the Building or Property in violation of Environmental Laws in effect at the time of such introduction, or (B) as a result of the presence of Hazardous Substances in, on, or under the Building or Property as of the Commencement Date, to the extent such Hazardous Substances are in violation of Environmental Laws in effect as of such date; payments in connection with overhead or profit to subsidiaries or affiliates of Landlord as a result of a noncompetitive selection process for providing management or other services in or to the Property, or for supplies or other materials to be provided to the Property, to the extent that the costs of such services, supplies or materials shall exceed the costs that would have been provided by parties unaffiliated with Landlord on a competitive basis; reserves for bad debts or for future improvements, repairs, maintenance, replacements, additions, etc.; and costs for which Landlord has been compensated by a management fee, to the extent that the inclusion of such costs in Operating Expenses would result in a double charge to Tenant’s next monthly installment of . Notwithstanding anything to the contrary contained in this Section 7, the aggregate Controllable Expenses (as hereinafter defined) included in Operating Expenses in any particular year in which the expenses are incurred during the Term after the calendar year 2023 shall not increase by more than four percent (4%) on an annual, cumulative and Rentcompounded basis, over the actual aggregate Controllable Expenses included in Operating Expenses for any preceding year in which the expenses are incurred (including the calendar year 2023), but with no such limit on the amount of Controllable Expenses which may be included in the Operating Expenses incurred during the calendar year 2023. As used hereinThe foregoing cap on Controllable Expenses shall not apply to Taxes. For purposes of this paragraph, "Controllable Expenses" shall mean all Operating Expenses except: (i) any assessments, including assessment districts and government-mandated charges with respect to the term “Operating Expenses” shall include Building or the Property, or any part thereof; (ii) insurance carried by Landlord with respect to the Property and/or the operation thereof; (iii) costs of utilities and janitorial services, including, without limitation, electricity, water, HVAC and sewer charges, utility surcharges and assessments, and refuse removal; (iv) the costs of capital alterations, capital additions, capital improvements, capital repairs and capital replacements described above; (v) the cost of maintaining casualty snow removal; and public liability insurance covering the Premises(vi) increases in wages, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage salaries and other refuse; maintenancecompensation and benefits paid to Landlord’s employees, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection agents or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretocontractors.

Appears in 2 contracts

Samples: Lease (R F Industries LTD), Lease (R F Industries LTD)

Operating Expenses. During Throughout the term Term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with Lease, commencing on the maintenance, repair, operation, management, or ownership of the Premises. If requestedCommencement Date, Tenant agrees to pay Landlord on the first day of each calendar month, together as additional rent in accordance with the payment terms of rentthis Section 4, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount 's Share of Operating Expenses for the taxes and insurance for the Project and for all costs and expenses for the operation, maintenance, repair, and replacement of the Project including, without limitation: (i) any form of real property tax, assessment, license fee, license tax, business license fee, commercial rental tax, levy, charge, improvement bond or similar imposition of any kind or nature imposed by any authority having the direct power to tax, including any city, county, state or federal government, or any school, agricultural, lighting, drainage or other improvement or special assessment district thereof; (ii) any and all assessments under any covenants, conditions and restrictions affecting the Project; (iii) water, sewer and other utility charges; (iv) costs of insurance obtained by Landlord pursuant to Section 21 of this Lease; (v) waste disposal and janitorial services; (vi) security; (vii) labor; (viii) management costs including, without limitation: (A) wages and salaries (and payroll taxes and similar charges ) of property management employees, and (B) management office rental, supplies, equipment and related operating expenses and commercially reasonable management/administrative fees; (ix) supplies, materials, equipment and tools including rental of personal property; (x) repair and maintenance of the structural portions of the buildings within the Project, including the plumbing, heating, ventilating, air-conditioning and electrical systems installed or furnished by Landlord; (xi) maintenance, sweeping, repairs, resurfacing, and upkeep of all parking and other Common Areas; (xii) amortization on a straight line basis over the useful life [together with interest at the Interest Rate on the unamortized balance] of all capitalized expenditures which are: (A) reasonably intended to produce a reduction in operating charges or energy consumption; or (B) required under any governmental law or regulation that was not applicable to the Project as of the Commencement Date (however, if such expenditure by Landlord is required solely due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment 's particular use, occupancy or alteration of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem then regardless of when such law or regulation became in effect, Tenant shall be responsible for all of such expenditure); or (C) for replacement or restoration of any Project equipment and/or improvements needed to operate and/or maintain the Project at the same quality levels as prior to the replacement or restoration; (xiii) gardening and landscaping; (xiv) maintenance of signs (other than signs of tenants of the Project); (xv) personal property taxes levied on or attributable to personal property used in connection with the Common Areas; (xvi) reasonable accounting, audit, verification, legal and all other consulting fees; and (xvii) any other costs and expenses of managingrepairs, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decoratingmaintenance, painting, lighting, sanitary controlcleaning, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areassimilar items, including waterappropriate reserves. Notwithstanding anything to the contrary in the definition of Operating Expenses set forth in this Lease, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by Operating Expenses shall not include the foregoing; and administrative costs directly attributable thereto.following:

Appears in 2 contracts

Samples: Aurora Biosciences Corp, Aurora Biosciences Corp

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) ” charged to Tenant hereunder shall mean all costs incurred or paid by Landlord in connection with owning, operating, insuring, maintaining, repairing and replacing the maintenancePremises, repairBuilding, operation, management, or ownership and all other portions of the Premises. If requestedPark or Outside Area including, Tenant agrees to pay Landlord on the first day of each calendar monthwithout limitation, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public all utilities or services not paid directly by Tenant, property insurance, liability insurance covering the Premisesinsurance, real estate ad valorem taxes and all costs of managingproperty management, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common landscaping, parking areas, including waterand any other common facilities, sanitary sewer and storm water lines and other utility linesperforming Landlord’s obligations under Paragraph 7.2.2. Operating Expenses shall include without limitation, pipes and conduits; costs of utilitiesthe following: (i) the cost, including waterinterest at ten percent (10%) per annum, seweramortized over its useful life, electricityof any capital improvement made to any portion of the Park by Landlord after the Effective Date of this Lease which is required under any Applicable Laws that were not applicable to the relevant portion of the Park at the time the relevant portion of the Park was constructed; (ii) the cost, including interest at ten percent (10%) per annum, amortized over its useful life, of installation of any device or other equipment which improves the operating efficiency of any system within the Park and thereby reduces Operating Expenses; (iii) maintenance, repair and replacement items which have a reasonable life expectancy in excess of five (5) years and which, if charged to Operating Expenses in one(1) year, would unreasonably distort total Operating Expenses for that year and therefore the cost thereof is being spread over the reasonable life expectancy of the work performed; (iv) all expenses allocated to the Property pursuant to the CC&Rs; and (v) a management fee equal to three percent (3%) of Base Rent and Operating Expenses. Landlord shall not charge to Tenant, and gas; janitorialTenant shall not be obligated to pay, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection any cost or detection service; all general maintenance and repair; other general operation and maintenance expense not charged to Tenant within two (2) years after the date such cost is incurred (except for costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoproperly amortized over multiple years pursuant to this Paragraph 8.4).

Appears in 2 contracts

Samples: AbSci Corp, AbSci Corp

Operating Expenses. During The accounting of the Operating Expenses will be performed in accordance with Generally Accepted Accounting Principles. For the purpose of calculating the Operating Expenses, no Controllable Expense will increase more than five percent (5%) over the charge paid by Tenant the previous Lease Year. If the average occupancy rate of the Building Rentable Area will be less than ninety-five percent (95%) during any calendar year, or if any tenant is separately paying for (or does not require) electricity, janitorial, or other services furnished to its premises, then, for purposes of calculating Operating Expenses, the Operating Expenses for such period that vary with the level of occupancy of the Building or Project will be increased by the additional costs and expenses that Landlord reasonably estimates would have been incurred if the average occupancy rate had been ninety-five percent (95%) for such period. In no event will the Project tenants be required to pay, in the aggregate, more than 100% of the actual Operating Expenses of the Building or Project for any calendar year, and Tenant will not be required to pay more than one hundred percent (100%) of its Proportionate Share of the total increase in Operating Expenses actually incurred for the calendar year, with such actual Operating Expenses to be determined and payments reconciled through the process described above. At Tenant’s written request, Landlord will provide information sufficient to disclose or quantify adjustments made to each category of Operating Expenses increased pursuant to the provisions of this Section. For the purpose of this Section, the term of this Lease Tenant shall pay “Building” will be deemed to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with include the maintenance, repair, operation, management, or ownership roof of the PremisesBuilding and any extensions therefrom, courtyards, sidewalks, landscaping, and all other areas, facilities, improvements, and appurtenances relating to any of the foregoing; provided, however, that Operating Expenses for the Building will not include Operating Expenses for the Project. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually Within 120 days after the end of each year for such expenses. In calendar year, Landlord will submit to Tenant the event Statement showing (i) the aggregate of actual Tenant’s installments Proportionate Share of the amount by which Operating Expenses incurred during the preceding calendar year shall exceed the Tenant's Forecast Operating Expenses, (ii) the amount thereof paid by Tenant, and (iii) the balance due or the overpayment. If there is a balance due, Tenant will pay the balance due as Additional Rent within thirty (30) days following receipt of such Statement. If the Statement indicates an overpayment, then Landlord will credit the net overpayment toward Tenant’s next estimated payment(s) pursuant to this Section or if at the end of the Term, will refund such excess to Tenant. Tenant or its designated representative, at its sole expense, will have the right once per calendar year during the Term to audit Landlord’s books and records relating to the Operating Expenses for the immediately preceding calendar year. This audit must take place on a mutually agreeable date during reasonable business hours at Landlord’s office at the address stated above and only after Tenant has given Landlord at least fourteen (14) calendar days prior written notice of the date and time Tenant desires to commence such audit. If Tenant elects to audit Landlord’s books and records, Tenant will have the right to perform an audit of the Operating Expenses for the immediately preceding two (2) calendar years, such audit to be less than conducted by a reputable accounting firm reasonably approved by Landlord. If any such audit reveals an error by Landlord resulting in an overcharge to Tenant, then Landlord will promptly reimburse Tenant for the amount erroneously charged to Tenant. Likewise, if any such audit reveals an error resulting in Tenant being undercharged, then Tenant will promptly reimburse Landlord for the amount of such deficiency. If any audit performed by Tenant reveals that the Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be in total have been overstated by more than the amount of Operating Expenses due from Tenantfive percent (5%), such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include Landlord will pay and/or reimburse Tenant for the cost of maintaining casualty and public liability insurance covering the Premisesaudit not to exceed Two Thousand, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoFive Hundred Dollars ($2,500.00).

Appears in 2 contracts

Samples: Lease Agreement (Precision Biosciences Inc), Lease Agreement (Precision Biosciences Inc)

Operating Expenses. During the term Term of this Lease Agreement and any renewals or extensions thereof, Tenant shall pay to its pro rata share of the Operating Expenses incurred by Landlord as additional rent all ad valorem taxes in the operation, maintenance and operating expenses repair of the Building, the Parking Areas and other charges common areas of every kind the Building, and nature (the parcel(s) of land on which they are located. The term “Operating Expenses”) incurred or paid ” herein shall include, but not be limited to, all payments by Landlord in connection with the for maintenance, operation, repair, operationreplacement and care of all heating, managementlighting, fire protection and plumbing fixtures in or serving the Parking Areas and other common areas of the Building and of all equipment, systems, exterior glass, landscaped areas, signs, Building exteriors (non-structural) and parking lots (including seal coating); all payments by Landlord for electricity, water, sewer and other utilities not separately metered or sub metered and specially billed to and payable by an individual tenant, snow removal, refuse removal, insurance premiums and deductibles, commercially reasonable management fees, wages and fringe benefits or personnel employed for the aforesaid work and proportionate costs of equipment purchased and used for such purposes; and the amortization of capital expenditures or investments that are made to reduce operating costs, or ownership of the Premises. If requested, Tenant agrees that are necessary due to pay Landlord on the governmental requirements first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually enacted after the end date of each year for such expensesthis Lease, all as determined on a commercially reasonable basis by Landlord. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the The term “Operating Expenses” shall not be deemed to include any of the following: (i) leasing costs and commissions, costs of tenant disputes, leasehold improvements and other costs of preparing space for tenants, other tenant incentives, and expenses incurred in negotiating or enforcing leases; (ii) interest, principal or any other payments made to the mortgagee under any mortgage or rental or any other payments made to the ground lessor under any ground lease, (iii) the cost of maintaining casualty any items of a capital nature, except as expressly provided above, (iv) charges charged to Tenant under any other sections of this Lease, paid by other tenants, or covered by insurance or condemnation proceeds; (v) costs and public liability insurance covering expenses attributable to any personnel except to the Premisesextent the time and energies of such personnel are devoted exclusively to the Building; (vi) costs related to the ownership or operation of the entity that is the Landlord, real estate ad valorem taxes and all costs of managing, (vii) items not typically included as operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs in similar projects in the region; (viii) advertising and promotional expenses; all labor and supplies required by (ix) insurance costs to the foregoing; extent that any insurance coverage, deductibles and/or premiums are not consistent with standard, prudent industry practice for similar projects in the region. Any capital expenditures permitted to be included in Operating Expenses shall be amortized over the useful life of the improvement at an annual interest rate of eight percent (8%) and administrative costs directly attributable theretoonly the annual portion thereof that occurs during the Term shall be included in Operating Expenses.

Appears in 2 contracts

Samples: Lease (Surmodics Inc), Lease (Surmodics Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of TenantLandlord’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include means the cost of maintaining casualty operation of the Building and public liability insurance covering the Premises, real estate ad valorem taxes and Site which (i) shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made; all costs incurred exclusively as a result of managingowning, operating and maintaining the PremisesAdditional Building; all capital expenditures and depreciation (for items purchased or leased), except as otherwise explicitly provided in this Section 2.6; leasing fees or commissions, advertising and promotional expenses, legal fees, the cost of tenant improvements, build out allowances, moving expenses, assumption of rent under existing leases and other concessions incurred in connection with leasing space in the Building; interest on indebtedness, debt amortization, ground rent, and refinancing costs for any mortgage or ground lease of the Building or the Site; the cost of any item or service to the extent to which Landlord is actually reimbursed or compensated by insurance, any tenant, or any third party; legal fees or other expenses incurred in connection with negotiating and enforcing leases, subleases, assignments or other occupancy agreements for the Building; or depreciation or amortization except as otherwise expressly provided in this Lease but (ii) shall include, without limitation, the following: premiums for insurance carried with respect to the Building and the Site (including, without limitation, liability insurance, insurance against loss in case of fire or casualty and insurance of monthly installments of fixed rent and any Additional Rent which may be due under this Lease and other leases of space in the Building for not more than 12 months in the case of both fixed rent and Additional Rent and if there be any first mortgage of the Property, including but not limited such insurance as may be required by the holder of such first mortgage); compensation and all fringe benefits, worker’s compensation insurance premiums and payroll taxes paid to: costs of constructing, for or with respect to all persons engaged in the operating, maintaining and repairing on site and off-site traffic controls; decoratingor cleaning of the Building or Site, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricitygas, oil and gastelephone charges (excluding utility charges separately chargeable to tenants, including without limitation, those for additional or special services); janitorial, sweeping cost of building and cleaning servicessupplies and equipment; cost of maintenance, trash bin rentals, trash pickup fees, licenses, permits cleaning and inspection feesrepairs (other than repairs not properly chargeable against income or reimbursed from contractors under guarantees); parking lot painting cost of snow removal and restriping; planting, irrigating, gardening and care of landscaping; signs payments under service contracts with independent contractors (at market rates); management fees at reasonable rates consistent with the type of occupancy and markersthe service rendered; parking control and security guards all other reasonable and fire protection or detection service; all general maintenance and repair; other general operation necessary expenses paid in connection with the operation, cleaning and maintenance costs of the Building and expensesthe Site and properly chargeable against income, provided, however, there shall be included (a) depreciation for capital expenditures (whether purchased or leased) made by Landlord (i) to reduce Landlord’s Operating Expenses if Landlord shall have reasonably determined that the annual reduction in Landlord’s Operating Expenses shall exceed depreciation therefor or (ii) to comply with applicable laws, rules, regulations, requirements, statutes, ordinances, by-laws and court decisions of all public authorities which are now or hereafter in force; all labor plus (b) in the case of both (i) and supplies required (ii) an interest factor, reasonably determined by Landlord, as being the interest rate then charged for long term mortgages by institutional lenders on like properties within the locality in which the Building is located; depreciation in the case of both (i) and (ii) shall be determined by dividing the original cost of such capital expenditure by the foregoing; number of years of useful life of the capital item acquired and administrative costs directly attributable theretothe useful life shall be reasonably determined by Landlord in accordance with generally accepted accounting principles and practices in effect at the time of acquisition of the capital item.

Appears in 2 contracts

Samples: Lease Agreement (Vistaprint LTD), Vistaprint LTD

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges Additional Rent in the manner described below an amount equal to Tenant’s Pro Rata Share of every kind and nature (“the Building’s Operating Expenses”) incurred or paid Expenses payable by Landlord in connection with the maintenance, repair, operation, management, any full or ownership of the Premisespartial calendar year. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include mean all reasonable expenses of Landlord for maintaining, operating and repairing (including replacement of systems due to wear and tear, but subject to the limits set forth herein) the Building, the property on which it is located and the personal property, if any, used in connection therewith, including, by way of illustration only, insurance premiums, utilities, costs to repair and maintain lighting, customary management fees and other expenses which, in accordance with generally accepted accounting and management practices, would be considered an expense of maintaining, operating or repairing the Building, the Office Unit’s allocable share of the Condominium’s common expenses under the Condominium’s Declaration, expenses of the Condominium directly allocated to the Office Unit under the Condominium’s declaration; excluding, however: (i) the cost of maintaining casualty any special services rendered to individual tenants for which a separate charge is collected; (ii) leasing commissions and public liability insurance covering other leasing expenses; and (iii) costs of repairs, replacements or improvements that are required to be capitalized in accordance with GAAP, except that Operating Expenses shall include amortization over the Premisesuseful life of such capital repairs, replacements or improvements made subsequent to the Commencement Date that are required by any law enacted after the Commencement Date, or that are designed with a reasonable probability of improving operating efficiency of the Building in a manner benefiting the tenants thereof; provided further, however, that in such later case, such amortization shall not exceed the reasonably expected savings in Operating Expenses. Further, notwithstanding anything contained herein to the contrary, Operating Expenses shall not include (1) the initial costs of equipment properly chargeable to the capital account consisting of items of real estate ad valorem taxes in nature and all the original costs of managingconstructing the Common Areas; (2) attorneys’ fees, operating accounting fees and maintaining expenditures incurred in connection with negotiations, disputes and claims of other tenants or occupants of the PremisesBuilding; (3) expenses for which Landlord is reimbursed by another source (excluding tenant reimbursement for Operating Expenses) including repair or replacement of any item covered by warranty; (4) costs incurred to benefit (or as a result of) a specific tenant or items and services selectively supplied to any specific tenant; (5) expenses for the defense of the Landlord’s title to the Premises or the Building;(6) depreciation and amortization of the Building financing costs, including but interest and principal amortization of debts; (7) charitable or political contributions; (8) any duplicate expenses or costs; (9) Costs incurred to investigate and remediate Hazardous Material (as defined in Section 37.1) contamination, exposure or release (including any Hazardous Material in the ground water or soil), provided such Hazardous Material was not limited to: stored, used or disposed of by Tenant; (10) costs to correct defects in the original design and construction of constructingthe Premises or the Building, maintaining or any latent defects therein for the five year period following the Commencement Date; (11) expenses paid directly by Tenant for any reason (such as excessive utility use); (12) any repair, rebuilding or other work necessitated by condemnation, fire, windstorm or other insured casualty or hazard; (13) any other amounts as a result of Landlord’s violation or failure to comply with any governmental regulations and repairing rules or any court order, decree or judgment; (14) advertising expenses and other costs incurred in leasing or procuring new tenants; (15) rental on site ground leases or other underlying leases; and off-site traffic controls; decorating, painting, lighting, sanitary control(16) any employee salaries and other compensation and/or health benefits or other such benefits for the personnel of Landlord above the level of building manager or allocable to other projects. Except as excluded above, and removal except as otherwise expressly provided in this Lease, the intent of trash, garbage the parties is to make Rent payable by Tenant and other refuse; maintenancetenants in the Building, repair and replacement of utility systems serving if any, absolutely net to Landlord. If the Building is less than one hundred percent (100%) occupied during any common areasyear, including waterOperating Expenses that vary in direct relation to occupancy shall be proportionately adjusted to reflect those costs which Landlord reasonably estimates would have been incurred, sanitary sewer and storm water lines and other utility lineshad the Building been one hundred percent (100%) occupied during such year (“Grossed-Up”). This “Grossed-Up” provision allows the Landlord to recover all Operating Expenses from the existing tenants in the Building, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by but in no event more than the foregoing; and administrative costs directly attributable theretoactual Operating Expenses.

Appears in 2 contracts

Samples: Lease (Avalara Inc), www.sec.gov

Operating Expenses. During Expenses, costs and liabilities incurred in connection with the term operation of the Company and the Securities and the performance by the Managing Member, the Company and their respective Affiliates of their respective obligations under this Agreement, including, without limitation, (i) all expenses, costs and liabilities incurred in connection with the identification, structuring, negotiation, making, monitoring, ownership, operation, administration, management, financing, sale, proposed sale, enforcement, other disposition or valuation of the Securities and Temporary Investments or the Securities and Temporary Investments considered for the Company (including due diligence in connection therewith), whether or not consummated, (ii) costs and liabilities incurred in connection with litigation or other extraordinary events, directors and officers liability and other insurance expenses, (iii) all taxes, fees and other governmental charges payable by the Company, and all expenses incidental to the transfer, servicing and accounting for the Company’s cash and Securities, including all charges of depositories and custodians, (iv) communications expenses, (v) all expenses and costs associated with meetings of the Members, (vi) brokerage commissions, custodial expenses, appraisal fees and other investment costs actually incurred in connection with the Securities and Temporary Investments, (vii) expenses of liquidating the Company and its Subsidiaries, (viii) expenses incurred in connection with the maintenance of the Company’s books of account and the preparation of audited or unaudited financial statements required to implement the provisions of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes Agreement or by any governmental authority with jurisdiction over the Company (including, without limitation, fees and operating expenses of independent auditors, accountants and counsel, the costs and expenses of preparing and circulating the reports called for by Section 8.1 hereof and any fees or imposts of a governmental authority imposed in connection with such books and records and statements) and other routine administrative expenses of the Company or its Subsidiaries, including, but not limited to, the cost of the preparation of Returns, cash management expenses and insurance and legal expenses, (ix) all expenses incurred in connection with any indebtedness of the Company or other charges credit arrangement (including any line of every kind credit, loan commitment or letter of credit for the Company or related to the Securities (or any underlying asset)), (x) all legal, accounting, investment banking, real estate, tax, financial or other consulting, audit, appraisal and nature other expenses (to the extent not subject to reimbursement) incurred by the Company in respect of its operation and affairs, and (xi) all expenses and costs associated with the acquisition of the Securities (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Brookfield Asset Management Inc.), Limited Liability Company Agreement (Brookfield Asset Management Inc.)

Operating Expenses. During the term of this Lease Operating Expenses" shall not include and ------------------ Tenant shall in no event have any obligation to perform or to pay directly, or to reimburse Landlord as additional rent for, all ad valorem taxes or any portion of the following repairs, maintenance, improvements, replacements, premiums, claims, losses, fees, charges, costs and operating expenses and other charges (collectively, "Costs"): (a) Costs occasioned by the violation of every kind and nature (“Operating Expenses”) incurred or paid any Applicable Law by Landlord or its agents, employees or contractors; (b) Costs occasioned by fire except for uninsured costs or deductibles or Costs occasioned by the exercise of the power of eminent domain; (c) Costs to correct any construction defect in the Industrial Center for which Landlord is responsible hereunder or to comply with any Applicable Law on the Commencement Date the compliance with which is one of Landlord's responsibilities hereunder; (d) Costs of any renovation, improvement, painting or redecorating of any portion of the Industrial Center not made available for Tenant's use; (e) Costs incurred in connection with negotiations or disputes with any other occupant of the Industrial Center and Costs arising from the violation by Landlord or any other occupant of the Industrial Center of the terms and conditions of any lease or other agreement; (g) Costs incurred in connection with the maintenancepresence of any Hazardous Substances, except to the extent caused by Tenant;(i) Costs relating to the repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair maintenance and replacement of utility systems serving the structural elements of the Industrial Center; (j) interest, charges and fees incurred on debt, payments on mortgages and rent under ground leases; (k) any common areasfee, including water, sanitary sewer profit or compensation retained by Landlord or its affiliates for management and storm water lines and other utility lines, pipes and conduits; costs administration of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general the Industrial Center in excess of the management fee which would be charged by a professional management service for operation and maintenance costs and expenses; all labor and supplies required by of comparable projects in the foregoing; and administrative costs directly attributable theretovicinity of the Building.

Appears in 2 contracts

Samples: Lease (Kyphon Inc), Lease (Kyphon Inc)

Operating Expenses. During Tenant will pay directly all Operating Expenses of the term of this Lease Tenant Premises in a timely manner and prior to delinquency, unless otherwise specified herein that Landlord shall pay to Landlord as additional rent all ad valorem taxes directly such Operating Expenses and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates receive reimbursement from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expensesTenant. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of that Tenant fails to pay any Operating Expenses due from Tenant, such deficiency shall be paid to Landlord Expense within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from written notice by Landlord to Tenant, such overpayment shall and without being under any obligation to do so and without hereby waiving any default by Tenant, Landlord may pay any delinquent Operating Expenses. Any Operating Expense paid by Landlord and any expenses reasonably incurred by Landlord in connection with the payment of the delinquent Operating Expense may be applied billed immediately to Tenant’s next monthly installment of Operating Expenses , or at Landlord's option and Rentupon written notice to Tenant, may be deducted from the Security Deposit. As used herein, the term “"Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and " means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of managingthe Premises including, operating and maintaining the Premises, including but not limited to: costs of constructinginsurance, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of the foundation, roof, walls, heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility systems serving any common and safety systems, paving and parking areas, including water, sanitary sewer roads and storm water lines and other utility lines, pipes and conduitsdriveways; costs maintenance of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, exterior areas such as gardening and landscaping, snow removal and signage; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repairrepair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; other general painting; lighting; cleaning; refuse removal; security; utilities for, or the maintenance of, outside areas; building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Premises; and maintenance fees for required licenses and permits. Operating Expenses shall exclude (a) legal fees, brokerage commissions, advertising costs and expensesother related expenses incurred in connection with the leasing of the Building; all labor (b) wages, salaries benefits, perquisites and supplies required by compensation paid or given to (i) executives, shareholders, officers, directors or partners of Landlord, (ii) any principal or partner of the foregoingentity from time to time comprising Landlord, or (iii) off-site employees and employees at the Building above the level of Building manager; (c) Landlord’s general overhead and administrative expenses not related to the Building; (d) payments of principal or interest on any mortgage or other encumbrance including ground lease payments and points, commissions and legal fees associated with financing; (e) non-cash items, such as deductions for depreciation and amortization of the Building and the Building equipment, or interest on capital invested; and administrative (f) costs directly attributable theretoincurred in connection with the actual or contemplated sales, financing, refinancing, mortgaging, syndicating, selling, or change of ownership interest of the Building, including brokerage commissions, attorneys, and accountants’ fees, closing costs, title insurance premiums, transfer taxes and interest charges.

Appears in 2 contracts

Samples: Lease Agreement (Ascend Wellness Holdings, LLC), Lease Agreement (Ascend Wellness Holdings, LLC)

Operating Expenses. During The amount of the term Annual Operating Expenses set forth in Section 1(g) above represents Tenant’s Share of the estimated Operating Expenses for the calendar year in which the Term commences. Landlord may adjust such amount from time to time if the estimated Annual Operating Expenses increase or decrease; Landlord may also invoice Tenant separately from time to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses. By April 30th of each year (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the Property), Landlord shall provide Tenant with a statement of Operating Expenses for the preceding calendar year or part thereof. Within 30 days after delivery of the statement to Tenant, Landlord or Tenant shall pay to the other the amount of any overpayment or deficiency then due from one to the other or, at Landlord’s option, Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by may credit Tenant’s account for any overpayment. If Tenant does not give Landlord in connection notice within 30 days after receiving Landlord’s statement that Tenant disagrees with the maintenance, repair, operation, management, or ownership of statement and specifying the Premises. If requesteditems and amounts in dispute, Tenant agrees shall be deemed to have waived the right to contest the statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord on the first day of each calendar monthmay, together with the payment of rentin its reasonable discretion, such amount as Landlord estimates determine from time to time as necessary the method of computing and allocating Operating Expenses, including the method of allocating Operating Expenses to pay such expensesvarious types of space within the Building to reflect any disparate levels of services provided to different types of space. If the Building is not fully occupied during any period, Landlord shall xxxx Tenant annually after may make a reasonable adjustment based on occupancy in computing the end of each year Operating Expenses for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of period so that Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In are computed as though the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoBuilding had been fully occupied.

Appears in 2 contracts

Samples: Lease Agreement (PhaseBio Pharmaceuticals Inc), Lease Agreement (PhaseBio Pharmaceuticals Inc)

Operating Expenses. During Landlord's Operating Expenses" means the term cost of operation of the Building and the Site which shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation, the following: premiums for insurance carried with respect to the Building and the Site (including, without limitation, liability insurance, insurance against loss in case of fire or casualty and insurance of monthly installments of fixed rent and any Additional Rent which may be due under this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other leases of space in the Building for not more than 12 months in the case of both fixed rent and Additional Rent and if there be any first mortgage of the Property, including such insurance as may be required by the holder of such first mortgage); compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid to, for or with respect to all persons engaged in the operating, maintaining or cleaning of the Building or Site, water, sewer, gas, oil and telephone charges (excluding utility charges separately chargeable to tenants for additional or special services); cost of every kind building and nature cleaning supplies and equipment; cost of maintenance, cleaning and repairs (“Operating Expenses”) incurred other than repairs not properly chargeable against income or reimbursed from contractors under guarantees); cost of snow removal and care of landscaping; payments under service contracts with independent contractors; management fees at reasonable rates consistent with the type of occupancy and the service rendered; and all other reasonable and necessary expenses paid by Landlord in connection with the maintenance, repair, operation, management, or ownership cleaning and maintenance of the Premises. If requestedBuilding and the Site and properly chargeable against income, Tenant agrees provided, however, there shall be included (a) depreciation for capital expenditures made by Landlord (i) to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. reduce Landlord's Operating Expenses if Landlord shall xxxx Tenant annually after have reasonably determined that the end annual reduction in Landlord's Operating Expenses shall exceed depreciation therefor or (ii) to comply with applicable laws, rules, regulations, requirements, statutes, ordinances, by-laws and court decisions of each year all public authorities which are now or hereafter in force; plus (b) in the case of both (i) and (ii) an interest factor, reasonably determined by Landlord, as being the interest rate then charged for such expenses. In long term mortgages by institutional lenders on like properties within the event locality in which the aggregate Building is located; depreciation in the case of Tenant’s installments during the year both (i) and (ii) shall be less than determined by dividing the amount original cost of Operating Expenses due from Tenant, such deficiency capital expenditure by the number of years of useful life of the capital item acquired and the useful life shall be paid to reasonably determined by Landlord within ten (10) days after demand thereforein accordance with generally accepted accounting principles and practices in effect at the time of acquisition of the capital item. In Notwithstanding the event foregoing, the aggregate of Tenant’s installments during the year following shall be more than the amount of Operating Expenses due excluded from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Landlord's Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.:

Appears in 2 contracts

Samples: Agreement (Unica Corp), Agreement (Unica Corp)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) ” charged to Tenant hereunder shall mean all costs incurred or paid by Landlord in connection with owning, operating, maintaining, repairing and replacing the maintenancePremises, repairBuilding, operationOutside Area, management, or ownership and all other portions of the Premises. If requestedProperty including, Tenant agrees to pay Landlord on the first day of each calendar monthwithout limitation, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public all utilities or services not paid directly by Tenant, property insurance, liability insurance covering the Premisesinsurance, real estate ad valorem taxes and all costs of managingproperty management fee, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common landscaping, parking areas, including waterand any other common facilities, sanitary sewer and storm water lines performing Landlord’s obligations under Paragraph 8.1.2. Operating Expenses shall include without limitation, the following: (i) reserves for roof repair, exterior painting and other utility lines, pipes and conduitsappropriate reserves; costs of utilities(ii) the cost, including waterinterest at ten percent (10%) per annum, seweramortized over its useful life, electricityof any capital improvement made to any portion of the Property by Landlord after the date of this Lease which is required under any Applicable Laws that were not applicable to the relevant portion of the Property at the time the relevant portion of the Property was constructed; (iii) the cost, including interest at ten percent (10%) per annum, amortized over its useful life, of installation of any device or other equipment which improves the operating efficiency of any system within the Property and thereby reduces Operating Expenses; (iv) maintenance, repair and replacement items which have a reasonable life expectancy in excess of five (5) years and which, if charged to Operating Expenses in one (1) year, would unreasonably distort total Operating Expenses for that year and therefore the cost thereof is being spread over the reasonable life expectancy of the work performed; (v) salaries and benefits for Building property manager(s), engineer(s) and maintenance staff only to the extent directly working on the Building (or an actual allocation if engaged in the repair, maintenance or management of Landlord’s other properties in the Park or elsewhere), and gas; janitorial(vi) all expenses allocated to the Property pursuant to the CC&Rs. Operating Expenses shall not include roof replacement, sweeping correction of the Building foundation, Level 1 floorslab, property management fee exceeding one percent (1%) of Rent, the costs for Landlord to change, reconfigure or rearrange the Outside Area, brokerage commissions, construction and cleaning servicesdesign costs to accommodate other tenants and/or correction of deficiencies in structural elements of the Building, trash bin rentalsexpenses related to the sale of the Building, trash pickup feesexpenses relating to violations of laws, licensesregulations, permits and inspection fees; parking lot painting and restriping; plantingstatutes or ordinances, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoBuilding defects.

Appears in 2 contracts

Samples: Office Lease Agreement, Office Lease (Lionbridge Technologies Inc /De/)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating All Taxes, costs, expenses and other charges disbursements of every kind and nature (“Operating Expenses”) incurred which Landlord shall pay or paid by Landlord become obligated to pay in connection with the maintenanceownership, repairmanagement, operation, managementmaintenance, or ownership replacement and repair of the Premises. If requestedProperty (including the amortized portion of any capital expenditure or improvement, Tenant agrees to pay Landlord on amortized over the first day average useful life of each calendar monththe repaired or replaced item as reasonably determined by Landlord, together with interest thereon at the payment Reference Rate, expenses of rentchanging utility service providers, such amount as Landlord estimates from time and any dues, assessments and other expenses pursuant to time as necessary to pay such expensesany covenants, conditions and restrictions, or any reciprocal easements, or any owner’s association now or hereafter affecting the Project). Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year Operating Expenses shall be less than allocated among the amount categories of Project Operating Expenses, Building Operating Expenses due from Tenantor Phase Operating Expenses as provided in Article Four. If any Operating Expense, such deficiency shall be though paid in one year, relates to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than one calendar year, at the amount option of Landlord such expense may be proportionately allocated among such related calendar years. Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the following, by way of illustration only and not limitation: (1) all Taxes; (2) all insurance premiums and other costs (including deductibles, provided, that any deductible for earthquake insurance shall only be included in Operating Expenses if there is damage to the Building resulting from an earthquake, and such deductible shall be amortized over the average useful life of the improvements repaired or reconstructed, as reasonably determined by Landlord, together with interest thereon at the Reference Rate, and only the amortized portion thereof applicable to the Term of the Lease shall be included in Operating Expenses), including the cost of maintaining casualty rental insurance; (3) all license, permit and public liability insurance covering the Premises, real estate ad valorem taxes and inspection fees; (4) all costs of managingutilities, operating fuels and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilitiesrelated services, including water, sewer, electricitylight, telephone, power and steam connection, service and related charges; (5) all costs to repair, maintain and operate heating, ventilating and air conditioning systems, including preventive maintenance; (6) all janitorial, landscaping and security services; (7) all wages, salaries, payroll taxes, fringe benefits and other labor costs, including the cost of workers’ compensation and disability insurance; (8) all costs of operation, maintenance and repair of all parking facilities and other common areas; (9) all supplies, materials, equipment and tools; (10) dues, assessments and other expenses pursuant to any covenants, conditions and restrictions, or any reciprocal easements, or any owner’s association now or hereafter affecting the Project; (11) modifications to the Building or the Project occasioned by Laws now or hereafter in effect; (12) the total charges of any independent contractors employed in the care, operation, maintenance, repair, leasing and cleaning of the Project, including landscaping, roof maintenance, and gasrepair, maintenance and monitoring of life-safety systems, plumbing systems, electrical wiring and Project signage; janitorial(13) the cost of accounting services necessary to compute the rents and charges payable by tenants at the Project; (14) exterior window and exterior wall cleaning and painting; (15) managerial and administrative expenses; (16) all costs in connection with the exercise facility at the Project; (17) all costs and expenses related to Landlord’s retention of consultants in connection with the routine review, sweeping inspection, testing, monitoring, analysis and cleaning servicescontrol of Hazardous Material, trash bin rentalsand retention of consultants in connection with the clean-up of Hazardous Material (to the extent not recoverable from a particular tenant of the Project and except to the extent any spill or release of Hazardous Material is determined to be caused by Landlord or its employees, trash pickup contractors, agents or representatives), and all costs and expenses related to the implementation of recommendations made by such consultants concerning the use, generation, storage, manufacture, production, storage, release, discharge, disposal or clean-up of Hazardous Material on, under or about the Premises or the Project (to the extent not recoverable from a particular tenant of the Project and except to the extent any spill or release of Hazardous Material is determined to be caused by Landlord or its employees, contractors, agents or representatives); (18) all capital improvements made for the purpose of reducing or controlling other Operating Expenses, and all other capital expenditures, but only as amortized over the average useful life of the improvements, as reasonably determined by Landlord, together with interest thereon at the Reference Rate; (19) all property management costs and fees, licensesincluding all costs in connection with the Project property management office, permits provided that the management fees shall not exceed three percent (3%) of gross rents for the Project; and inspection fees(20) all fees or other charges incurred in conjunction with voluntary or involuntary membership in any energy conservation, air quality, environmental, traffic management or similar organizations. Operating Expenses shall not include: (a) costs of alterations of space to be occupied by new or existing tenants of the Project; parking lot painting (b) depreciation charges; (c) interest and restripingprincipal payments on loans (except for loans for capital expenditures or improvements which Landlord is allowed to include in Operating Expenses as provided above); planting, irrigating, gardening (d) ground rental payments; (e) real estate brokerage and landscapingleasing commissions; signs (f) advertising and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and marketing expenses; all labor (g) costs of Landlord reimbursed by insurance proceeds; (h) expenses incurred in negotiating leases of other tenants in the Project or enforcing lease obligations of other tenants in the Project; (i) Landlord’s or Landlord’s property manager’s corporate general overhead or corporate general administrative expenses; (j) capital improvements except as expressly provided above; (k) any capital expenditure for improvements or modifications to the Building or Project to the extent that Landlord was in violation of Law then in effect and supplies required by applied to the foregoingBuilding and Project prior to execution of the Lease for failure to make such improvements or modifications prior to execution of the Lease; and administrative (l) costs directly attributable theretoof removal, abatement or remediation of Hazardous Material to the extent that Landlord was in violation of Law then in effect and applied to the Project prior to execution of the Lease for failure to remove, xxxxx or otherwise remediate Hazardous Material prior to execution of the Lease.

Appears in 2 contracts

Samples: Workletter Agreement (Guardant Health, Inc.), Workletter Agreement (Guardant Health, Inc.)

Operating Expenses. During Tenant will pay directly all Operating Expenses of the term of this Lease Tenant Premises in a timely manner and prior to delinquency, unless otherwise specified herein that Landlord shall pay to Landlord as additional rent all ad valorem taxes directly such Operating Expenses and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates receive reimbursement from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expensesTenant. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of that Tenant fails to pay any Operating Expenses due from Tenant, such deficiency shall be paid to Landlord Expense within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from written notice by Landlord to Tenant, such overpayment shall and without being under any obligation to do so and without hereby waiving any default by Tenant, Landlord may pay any delinquent Operating Expenses. Any Operating Expense paid by Landlord and any expenses reasonably incurred by Landlord in connection with the payment of the delinquent Operating Expense may be applied billed immediately to Tenant’s next monthly installment of Operating Expenses , or at Landlord's option and Rentupon written notice to Tenant, may be deducted from the Security Deposit. As used herein, the term “"Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and " means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of managingthe Premises including, operating and maintaining the Premises, including but not limited to: costs of constructinginsurance, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of the foundation, roof, walls, heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility systems serving and safety systems, maintenance and repair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; painting; lighting; cleaning; refuse removal; security; utilities for, or the maintenance of, outside areas; building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Premises; and fees for required licenses and permits. Operating Expenses shall exclude (a) legal fees, brokerage commissions, advertising costs and other related expenses incurred in connection with the leasing of the Buildings (or any common areasportion thereof); (b) wages, salaries benefits, perquisites and compensation paid or given to (i) executives, shareholders, officers, directors or partners of Landlord, (ii) any principal or partner of the entity from time to time comprising Landlord, or (iii) off-site employees and employees at the Buildings above the level of building manager; (c) Landlord’s general overhead and administrative expenses not related to the Buildings; (d) payments of principal or interest on any mortgage or other encumbrance including ground lease payments and points, commissions and legal fees associated with financing; (e) non-cash items, such as deductions for depreciation and amortization of the Buildings and related equipment, or interest on capital invested; and (f) costs incurred in connection with the actual or contemplated sales, financing, refinancing, mortgaging, syndicating, selling, or change of ownership interest of the Buildings (or any portion thereof), including waterbrokerage commissions, sanitary sewer attorneys, and storm water lines accountants’ fees, closing costs, title insurance premiums, transfer taxes and interest charges. Notwithstanding the foregoing, Operating Expenses shall include all costs, expenses, charges, fees, interest and other utility linesamounts required to be paid pursuant to the CC&Rs (as hereinafter defined), pipes and conduits; costs of utilitiesincluding, including waterwithout limitation, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required expenses levied against the Premises by the foregoing; and administrative costs directly attributable theretoChestnut Hill Avenue Primary Condominium Association (or its board on its behalf) (the “Association”) in connection with the Project.

Appears in 2 contracts

Samples: Lease Agreement (Ascend Wellness Holdings, LLC), Lease Agreement (Ascend Wellness Holdings, LLC)

Operating Expenses. During IMPROVEMENTS, REPAIRS, MAINTENANCE, REPLACEMENT, INSURANCE, TAXES AND PROPERTY MANAGEMENT. This Lease shall be a triple net lease for the term of this Lease Tenant shall pay to Landlord as additional rent Base Term (not the Storage Term), therefore all ad valorem taxes and operating expenses and other charges utilities are passed through to the tenants in the Building. Since the Premises is part of every kind the Building, Tenant is responsible for its prorata share of all operating expenses for the Building including but not limited to the following Building services: repairs, maintenance, replacement with respect to the Common Areas (including the roof, shell, pavement and nature resurfacing of the parking lot and sidewalks), heating, ventilation and air conditioning (“HVAC”), plumbing, glass, electrical, power generator (connected for operation of the Premises and all equipment located therein during power outages), battery backup, card access for the doors for the Building, door hardware, locks and keys, video monitoring systems, alarm systems, Common Area utilities, utilities for the Building (provided that such utilities are not metered separately as to the Premises), Common Area janitorial services, maintenance services, security services, snow removal, water, sewer and garbage, insurance, property taxes and assessments, and third party property management fees incurred in the operation and management of the Building and the Common Areas (collectively, “Operating Expenses”) incurred ). Operating Expenses for repairs or paid by Landlord in connection with replacements of a capital nature (whether or not capitalized), such as improvements, repairs or replacements to the maintenanceparking lot or other paved areas, repair, operation, management, or ownership and Tenant’s obligation shall be amortized over the useful life of the Premisesimprovement in accordance with generally accepted accounting principles, but in no event shall Tenant be obligated to pay any portion of such amortized costs extending beyond the Term of this Lease. If requestedFor purposes of this Lease, Operating Expenses shall specifically exclude electric, gas and security (if any) for Tenant’s Use of the Premises to the extent that such charges are separately billed to Tenant and are the sole responsibility of Tenant. Tenant agrees to use landlord-provided janitorial services, which shall be charged to Tenant directly or as Operating Expenses. Tenant shall separately contract and pay Landlord on for security services for Tenant’s Premises if desired by Tenant. Building common area security, if provided by Landlord, is not responsible for security for Tenant’s Premises and is only there for convenience. If due to the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate nature of Tenant’s installments during business, Landlord requires additional security for the year shall Building or Premises, this will be less than the amount of at Tenant’s expense and billed directly to Tenant. Operating Expenses due shall further exclude (i) amounts reimbursable from insurance proceeds or under warranty or paid for by any other tenant in the Building or any third party, (ii) interest, late charges or penalties incurred as a result of Landlord’s failure to pay bills in a timely manner; (iii) any charge for depreciation, interest on encumbrances or ground rents paid or incurred by Landlord; (iv) brokerage or leasing commissions; (v) amounts incurred to remediate any Hazardous Materials (as defined below) not caused by Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment Proration of Operating Expenses and Rent. As used hereinUtilities shall be on a square footage basis adjusted for hours of operation and Tenant’s proration shall be calculated by multiplying the Operating Expenses by a fraction, the term “numerator being the rentable square feet of the Premises and the denominator being the total rentable square feet of the Building (including any space occupied by Landlord) adjusted based on Tenant’s hours of operation. Tenant’s pro rata share of Operating Expenses” Expenses is currently estimated at $5.00 per rentable square foot. Utility Expenses are currently estimated at $1.95 per rentable square foot. The total Operating Expenses shall include the cost of maintaining casualty be prorated and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing be payable by Tenant as Additional Rent on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.a monthly basis as follows:

Appears in 2 contracts

Samples: Commercial Triple Net Lease (Extend Health Inc), Triple Net Lease (Extend Health Inc)

Operating Expenses. During It is the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership intention of the parties, and they hereby agree, that this shall be a triple net Lease, and the Lessor 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. If requested, Tenant and Lessee hereby agrees to pay Landlord on the first day one hundred percent (100%) of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of any and all Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand thereforeas hereafter defined for the entire term of the Lease and any thereof in accordance with specific provisions hereinafter set forth. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of The term Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs to Lessee of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining Premises and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlrelated parking areas, and removal of trashshall include, garbage without limitation, real estate and other refuse; maintenancepersonal property taxes and assessments, repair and replacement of utility systems serving any common areasmanagement fee, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewerheating, electricity, water, waste disposal, sewage, operating materials and gassupplies, 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 Premises and related parking areas, unless expressly excluded from the operating expenses. Notwithstanding the foregoing operating costs, and Lessee's obligations in relation thereto, shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; janitorialprincipal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Lessor is reimbursed through insurance, sweeping and cleaning servicesor by third persons, trash bin rentals(iii) repair costs occasioned by fire, trash pickup feeswindstorm or other casualty, licenses(iv) any construction, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection repair or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required expenses or obligations that are the sole responsibility of the Lessor (not to be reimbursed by the foregoing; Lessee), (v) leasing commissions and administrative 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 the Lessor which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs directly attributable theretoof items and services for which the Lessee reimburses or pay any third persons directly.

Appears in 2 contracts

Samples: Triple Net Lease Agreement, Triple Net Lease Agreement

Operating Expenses. During If, with respect to any Lease Year or fraction thereof, LESSOR'S 0perating Expenses Allocable to the term Leased Premises, as hereinafter defined, shall for such Lease Year of this Lease Tenant fraction thereof exceed the product of (a) LESSEE's Share of Operating Expenses Included in Annual Fixed Rent multiplied by (b) the Total Rentable Floor Area of the Leased Premises, then on or before the thirtieth day following receipt by LESSEE of written notice from LESSOR as provided below, LESSEE shall pay to Landlord LESSOR, as additional rent all ad valorem taxes and Additional Rent, the amount of such excess. For any Lease Year or fraction thereof for which LESSEE shall owe Operating Expenses as herein provided, LESSOR shall deliver to LESSEE a statement in reasonable detail showing for said Lease Year or fraction thereof, as the case may be, XXXXXX's operating expenses for the Property ("Operating Expenses'), excluding costs of special services rendered to lessees (including LESSEE) for which a separate charge is otherwise made, but including, without limitation: premiums for insurance for fire and extended casualty, general and excess liability, rent insurance, and any necessary endorsements pertaining to these policies or, if there be any mortgage (5) of the lot or improvements, or both, insurance as may be required by the holder of the mortgage(s); compensation and all fringe benefits, workmen's compensation insurance premiums and payroll taxes paid by XXXXXX to, for, or with respect to all persons engaged in the operating, maintaining, or cleaning of the Property in proportion to the percentage of such employee's time spent with respect to such property, as evidenced by time cards or other record keeping mechanisms; steam, water, sewer, gas, telephones, and other utility charges, and electricity charges attributable to the common areas; cost of every kind providing conditioned water for HVAC services attributable to the common areas; cost of building and nature cleaning supplies and equipment; rental costs for equipment used in the operating, cleaning, maintaining, or repairing of the property; cost of maintenance, cleaning, repairs, including those with respect to elevators, (“Operating Expenses”) other than repairs and other expenditures not properly chargeable against income or for which XXXXXX has received reimbursement from contractors under guaranties or insurance proceeds under insurance). LESSOR's reasonable accounting and legal costs applicable to the operation and management of the Property; management costs incurred in respect of the Property; cost of snow and trash removal and care of landscaping; payments under service contracts with contractors including security services and janitorial services attributable to the common areas; costs of any road or parking lot maintenance allocable to the Property; the cost of any capital improvement made for the purpose of reducing operating expenses which costs shall be amortized over such reasonable period as the LESSOR shall reasonably determine equals the useful life of such capital improvement together with interest on the unamortized balance at the base lending rate charged by a major commercial bank designated by the LESSOR on funds said bank ordinarily loans for the purpose of constructing, installing or making similar, and all other reasonable and necessary expenses paid by Landlord in connection with the maintenance, repair, operation, managementcleaning, maintenance and repair of the Property. The following shall be excluded from Operating Expenses: any costs or expenses incurred by XXXXXX in construction and development of the Building; payment of principal, interest and other changes on mortgages and ground rent; salaries of executives and principals of LESSOR (except as may be attributable to actual building operations), expenses for repairs, replacement or other work necessitated by insured fire or other casualty (including the action of any public authority in consequence thereof) or by any taking by eminent domain; the cost of correcting defects, except that conditions (not occasioned by construction defects) resulting from ordinary wear and tear shall not be deemed defects for this purpose; depreciation or amortization; costs relating to lessees' alterations; principal and interest on XXXXXX's indebtedness; costs for which LESSOR, by the terms of this Lease or any other lease for space within the Property makes a separate charge; charges for utilities exclusively serving other Lessees or LESSOR; and all other items, or ownership portions thereof, which under generally accepted accounting principles as generally applied in the real estate industry for similar properties are not properly classified as Operating Expenses for the Property or are properly classified as capital expenditures. Cost of all LESSOR's services provided by LESSOR or its affiliates shall not exceed the Premisescommercially comparable rates for such services to similar first class buildings in the city where the building is located. If requestedLESSOR reserves the right at any time during a Lease Year to bill LESSEE in equal monthly payments, Tenant agrees to pay Landlord on the first day of each calendar monthaccount, together but as Additional Rent due with the next succeeding month's payment of rentAnnual Fixed Rent, such for the amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In increases in Operating Expenses in the event the aggregate LESSOR's Operating Expenses Allocable to the Leased Premises (as hereinafter defined) exceed the product of Tenant’s installments during the year shall be less than the amount (a) LESSEE's Proportionate Share of Operating Expenses due from TenantIncluded in Annual Fixed Rent and (b) the Total Rentable Floor Area of the Leased Premises. XXXXXX's Operating Expenses Allocable to the Leased Premises shall exclude any expenses otherwise separately billed to LESSEE, such deficiency and shall be paid to Landlord within ten (10) days after demand therefore. In the event sum of the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.following:

Appears in 2 contracts

Samples: Maker Communications Inc, Maker Communications Inc

Operating Expenses. During the term of this Lease Tenant shall pay Tenant’s Proportionate Share of annual increases in Real Estate Taxes and Operating Expenses above the Calendar 2001 Base Year. An itemized breakdown of 2001 estimated Operating Expenses will be delivered to Landlord as additional rent Tenant upon completion of Landlord’s year-end consolidation. Detailed breakdowns of all ad valorem taxes charges to Tenant will be provided. The aggregate of all costs and operating expenses reasonably and other charges of every kind and nature (“Operating Expenses”) customarily paid or incurred or paid on a cash basis by Landlord in connection with the maintenance, repairownership, operation, managementservicing, and maintenance of the Leased Premises, the Building, the land on which the Building is constructed and any ancillary improvements constructed on the land, the surface and garage parking areas, and ingress/egress easements and private roadways servicing the Building, including, but not limited to, employees’ wages, salaries, welfare and pension benefits and other customary and usual employee fringe benefits; payroll taxes; Real Estate Taxes; property owner’s association dues, fees and contributions of any kind, electricity and other utility charges; telephone service; painting of public or other common areas of the Building; exterminating service; security services; trash removal; sewer and water charges; premiums for fire and casualty, liability, rent loss, workmen’s compensations, sprinkler, water damage and other insurance; repairs, maintenance, additions and improvements made by Landlord to the Building (properly depreciating any capital improvements); building, janitorial and cleaning services and supplies; uniforms and dry cleaning; snow removal; landscaping maintenance; window cleaning; service contracts for the maintenance of elevators, boilers, HVAC, and other mechanical, plumbing, and electrical equipment; legal fees (other than legal fees relating to the enforcement of Landlord’s rights under leases with tenants for space in the Building); accounting fees; advertising (except for advertising expenses and leasing fees relating to leasing space in the building); management fees at reasonable and customarily incurred rates and all other expenses now or hereafter reasonably and customarily incurred in connection with the ownership, operation and maintenance of comparable office buildings in Northern Virginia. Refunds of Real Estate Taxes (reduced by Landlord’s actual expenses in obtaining such refunds), receipts from tenants of the Building for after-hours heating or air-conditioning and for excess electrical usage in an amount equal to the actual costs of providing such service, recoveries of expenses and other separate charges made to tenants of the Building for special services (but excluding any mxxx-up or profit realized by Landlord in connection with providing such special services) and, to the extent that Operating Expenses include the cost of any repair or reconstruction work, the amount of any insurance recoveries, shall be credited against Operating Expenses in computing the amount thereof. Operating Expenses shall also be reduced as provided in Section 3(b). Notwithstanding anything in this Lease to the contrary, for purposes of the calculations to be made pursuant to this paragraph, Operating Expenses shall exclude (i) capital improvements except as provided under this definition of Operating Expenses, (ii) repairs and replacements, which under sound accounting principles and practices should be classified as capital expenditures as determined by Landlord’s independent accounting firm, depreciated as provided for above, (iii) painting, redecorating, or ownership other work which Landlord performs for any other tenant or prospective tenant of the Premises. If requestedbuilding other than painting, Tenant agrees redecorating, or other work which is standard for the building and performed for tenants subsequent to pay their initial occupancy, (iv) repairs or other work (including rebuilding) occasioned by fire, windstorms, or other casualty, to the extent covered by insurance, or condemnation, (v) any cost (such as repairs, improvements, electricity, special cleaning or overtime services) to the extent such costs are included in tenants’ rent or are expressly reimbursable to Landlord by tenants (as opposed to partial reimbursement in the nature of rent escalation provisions) or are separately charged to and payable by tenants or to the extent Landlord is entitled to compensation by insurance proceeds, (vi) leasing commissions and expenses of procuring tenants, including lease concessions and lease take-over obligations, (vii) depreciation, (viii) interest on and amortization of debt, (ix) taxes of any nature, excluding real estate taxes, but including interest and penalties for late payment of taxes, except as provided herein, (x) rent payable under any lease to which this lease is subject, (xi) wages or salaries of employees other than on-site employees for the first day of each calendar monthbuilding or employees specifically employed, together in whole or in part, in connection with the payment ownership and maintenance of rentthe Building, such amount as (xii) costs and expenses of enforcing leases against tenants, including legal fees, (xiii) managing agents’ commissions in excess of rates then customarily charged by managing agents for comparable office buildings and, (xiv) expenses resulting from any violation by Landlord estimates from time of the terms of any lease of space in the building or of any ground or underlying lease or mortgage to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenseswhich this lease is subordinate. In the event that pursuant to the aggregate terms of Tenant’s installments during the year shall be less than the amount this Lease, Tenant is obligated to pay its proportionate share of Operating Expenses due from TenantExpenses, such deficiency Tenant shall be paid have the right to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenantaudit Landlord’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses books and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.records as follows:

Appears in 2 contracts

Samples: Lease Agreement (Comscore, Inc.), Lease Agreement (Comscore, Inc.)

Operating Expenses. During Operating Expenses shall mean all costs and expenses (whether or not presently within the term contemplation of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”the parties) incurred paid or paid incurred, directly or indirectly, by Landlord in operating, managing, equipping, repairing, replacing, policing and/or maintaining the Building or Property, or any part thereof, witch shall include the following costs by way of illustration, but shall not be limited to: same, wages, hospitalization, medical, surgical, and general welfare benefits (including group life insurance), and pension payments of agents or employees of Landlord engaged in the operation or maintenance of the Building (all of which shall be prorated to the extent any such agent or employee does not work full time at the Building); payroll charges and/or taxes; workers compensation insurance; lamps; fluorescent tubes; ballasts; steam; fuel; utility taxes; . electricity, including the Electricity Charges; water (including sewer charges and/or rental); casualty, business interruption or rent insurance and liability insurance; repairs and maintenance, including, but not limited to, repairs and maintenance to the roof, foundation, exterior and interior walls, floors and covering of same in common areas and structural elements; building and cleaning supplies; uniforms and dry cleaning; window cleaning; management fees not to exceed five percent (5%) of the gross revenues of the Property; service contracts with independent contractors; electricity audit costs; telephone; telegraph, stationery, advertising; equipment necessary for the maintenance and operation of the Building; protection and security services; replacements of plate and window glass; tenant area and common area cleaning and janitorial services; plant and landscape services; ground maintenance; elevator maintenance and repair; ice, snow and trash removal; and all other expenses paid in connection with the maintenanceoperation of the Building. (Operating Expenses shall not include depreciation on the Building of which the Premises are a part or equipment therein, repair, operation, managementloan payments, or ownership real estate broker's commissions Operating Expenses shall also include, but not be limited to, the capital cost of repairs and/or replacements, including, but not limited to repairs and replacements of the Premises. If requestedroof, Tenant agrees foundation, exterior and interior walls, floors and coverings of same in the Common Areas, structural elements and elements or systems in the Building which are considered capital items pursuant to pay generally accepted accounting principles, or any capital improvements made to the building by Landlord on that reduce Operating Expenses or that are required under any governmental law or regulation not previously applicable to the first day of each calendar month, together with Building or not in effect at the payment of rent, time it was constructed.) Such capital cost shall be amortized over such amount reasonable periods as Landlord estimates from time to time as necessary to pay such expensesshall determine consistent with generally accepted accounting principles. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year agrees that all capital costs included as Operating Expenses shall be less than the amount net of any insurance proceeds received. Operating Expenses due from shall not include the capital costs associated with any expansion of the Building or the parking area (unless expanded at Tenant, such deficiency 's request) nor shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall they include the cost of maintaining casualty and public liability insurance covering advertising costs associated with the Premises, real estate ad valorem taxes and all costs marketing or rental of managing, operating and maintaining space in the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoBuilding.

Appears in 2 contracts

Samples: Agreement (DSL Net Inc), Agreement (DSL Net Inc)

Operating Expenses. During From and after the term occurrence of a Sweep Event (taking into account Borrower’s deposit of Rents and Gross Revenues in accordance with Section 6.1), Borrower shall deposit with or on behalf of Lender on or before each Monthly Payment Date the monthly amount set forth in the Approved Annual Budget for the following month as being necessary for payment of Approved Operating Expenses at the Property for such month and which are not otherwise paid by WM Recycle America, LLC pursuant to the Waste Management Lease (together with any additional funds, if any, for Extraordinary Expenses requested by Borrower and approved by Lender in accordance with the terms hereof), which amounts shall be shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Operating Expense Account”). Amounts deposited pursuant to this Section 6.5 are referred to herein as the “Operating Expense Funds”. Provided no Event of Default has occurred and is continuing (it being expressly understood that a Sweep Event triggered under Section 6.8(c) does not constitute an Event of Default for purposes of this Lease Tenant Section provided such Sweep Event terminates as and when required under Section 6.8), Lender shall disburse Operating Expense Funds to Borrower out of the Operating Expense Account to pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Approved Operating Expenses, within fifteen (15) incurred or paid days after delivery by Landlord Borrower to Lender of a request therefor (but not more often than once per month), in connection with the maintenanceincrements of at least $10,000, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, provided (i) such amount as Landlord estimates from time to time as necessary disbursement is for an Approved Operating Expense; and (ii) such disbursement is accompanied by (A) an Officer’s Certificate certifying (x) that such funds will be used to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Approved Operating Expenses and Rent. As a description thereof, (y) that all previous disbursements have been or will be used herein, to pay the term “previously identified Approved Operating Expenses” shall include Expenses and (z) that all outstanding trade payables (other than those to be paid from the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlrequested disbursement or those constituting Permitted Indebtedness) have been paid in full, and removal of trash(B) documentation satisfactory to Lender as to the amount, garbage necessity and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretopurpose therefor.

Appears in 2 contracts

Samples: Loan Agreement (O'Donnell Strategic Industrial REIT, Inc.), Loan Agreement (O'Donnell Strategic Industrial REIT, Inc.)

Operating Expenses. During each month of the term of this Lease Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to Landlord 1/12 of the annual cost, as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid estimated by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate time, of Tenant’s installments during the year shall be less than the amount Proportionate Share (hereinafter defined) of Operating Expenses due from Tenant, such deficiency for the Project or Building. Payments for any fractional calendar month shall be paid to Landlord within ten (10) days after demand thereforeprorated. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the The term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and means all costs and expenses incurred by Landlord with respect to the ownership, maintenance, and operation of managingthe Project including, operating and maintaining the Premises, including but not limited toto costs of: costs of constructing, maintaining Taxes (hereinafter defined) and repairing on site fees payable to tax consultants and off-site traffic controlsattorneys for consultation and contesting taxes; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuseinsurance; utilities; maintenance, repair and replacement of utility systems serving any common all portions of the Building, Premises, and Project, including without limitation, paving and parking areas, roads, non-structural components of exterior walls, non-structural components of the roofs (including waterthe roof membrane), sanitary sewer alleys, and storm water lines and other driveways, mowing, landscaping, snow removal, exterior painting, utility lines, pipes fire sprinklers and conduitsfire protection systems, the current amortized portion of any capital repairs and replacements of all portions of the Building, Premises, and Project, heating, ventilation and air conditioning systems (as defined below), lighting, electrical systems and other mechanical and building systems; costs amounts paid to contractors and subcontractors for work or services performed in connection with any of utilitiesthe foregoing; charges or assessments of any association to which the Project is subject; a property management or administration fee payable to a property manager, including waterLandlord, seweror any affiliate of Landlord, electricityequal to three (3%) percent of gross receipts due and payable by Tenant to Landlord under this Lease; a deductible for all-risk property insurance not to exceed USD$25,000; security services, and gasif any; janitorialtrash collection, sweeping and cleaning servicesdebris removal; and additions or alterations made by Landlord to the Project or the Building in order to comply with Legal Requirements (other than those expressly required herein to be made by Tenant) or that are appropriate to the continued operation of the Project or the Building as an industrial/warehouse facility in the market area, trash bin rentalsprovided that the cost of additions or alterations that are required to be capitalized for federal income tax purposes shall be amortized on a straight line basis over a period equal to the useful life thereof as determined by Generally Accepted Accounting Principles. Operating Expenses do not include (a) debt service under mortgages or ground rent under ground leases; (b) leasing commissions, trash pickup or the costs of renovating space for tenants; (c) repairs, alterations, additions, improvements or replacements made to rectify or correct any defect in the design, materials or workmanship of the Premises, the Building or the Project; (d) costs of repairs, restoration, replacements or other work occasioned by (i) fire, windstorm or other casualty (including the costs of any deductibles paid by Landlord) and either (aa) payable (whether paid or not) by insurance required to be carried by Landlord under this Lease, or (bb) otherwise paid by insurance then in effect obtained by Landlord (ii) the adjudicated negligence or adjudicated intentional tort of Landlord, or any representative, employee or agent of Landlord, (iii) the act of any other tenant in the Premises, the Building or the Project, or any other tenant’s agents, employees, licensees or invitees to the extent the applicable cost is, in the Landlord’s reasonable judgment, practically recoverable from such person; (e) costs incurred (less costs of recovery) for any items to the extent such amounts are, in Landlord’s reasonable judgment, recoverable by Landlord under a manufacturer’s, materialman’s, vendor’s or contractor’s warranty; (f) non-cash items, such as deductions for depreciation and amortization of the Premises, the Building or the Project and the Premises, the Building or the Project equipment, or interest on capital invested; (g) legal fees, licensesaccountants’ fees and other expenses incurred in connection with disputes with other tenants or occupants of the Premises, permits the Building or the Project or associated with the enforcement of any lease or defense of Landlord’s title to or interest in the Premises, the Building or the Project or any part thereof; (h) costs incurred due to violation by Landlord or any other tenant in the Premises, the Building or the Project of the terms and inspection feesconditions of any lease; parking lot painting (i) the cost of any service provided to Tenant or other occupants of the Premises, the Building or the Project for which Landlord is entitled to be reimbursed; (j) charitable or political contributions; (k) interest, penalties or other costs arising out of Landlord’s failure to make timely payments of its obligations; or (l) costs, expenses, depreciation or amortization for repairs and restriping; plantingreplacements required to be made by Landlord under Paragraph 11 of this Lease. If Tenant’s total payments of Operating Expenses for any year are less than Tenant’s Proportionate Share of actual Operating Expenses for such year, irrigatingthen Tenant shall pay the difference to Landlord within 30 days after demand, gardening and landscaping; signs if more, then Landlord shall either, at Landlord’s option, retain such excess and markers; parking control credit it against Tenant’s next payments of Operating Expenses or pay such refund to Tenant, except that during the last calendar year of the Lease Term or any extension terms thereof, Landlord shall refund any such excess within 60 days following the termination of the Lease Term or any extension terms thereof, provided that Tenant is not in default of its obligations under this Lease. Any payment required to be paid by Landlord after the expiration or earlier termination of the Lease shall be delivered to the most recent address Tenant has provided to Landlord. With respect to Operating Expenses which Landlord allocates to the entire Project or just the Building, Tenant’s “Proportionate Share” shall be the percentage set forth in Paragraph 1 of this Lease as Tenant’s Proportionate Share of the Project or Tenant’s Proportionate Share of the Building (as applicable) as reasonably adjusted by Landlord in the future for changes in the physical size of the Premises, Building, or the Project. Landlord may equitably increase Tenant’s Proportionate Share for any item of expense or cost reimbursable by Tenant that relates to a repair, replacement, or service that benefits only the Premises or only a portion of the Project or Building that includes the Premises or that varies with Xxxxxx’s use. The estimated Operating Expenses for the Premises set forth in Paragraph 1 of this Lease are only estimates, and security guards and fire protection Landlord makes no guaranty or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretowarranty that such estimates will be accurate.

Appears in 2 contracts

Samples: Lease Agreement (RayzeBio, Inc.), Lease Agreement (RayzeBio, Inc.)

Operating Expenses. During All actual costs and expenses incurred by Landlord during any calendar year in managing, operating and maintaining the term Building and the Land (as well), as determined by Landlord in accordance with an accounting system established and regularly applied by Landlord. Such costs and expenses shall include, but not be limited to, the cost of this Lease Tenant shall pay to Landlord as additional rent all ad valorem water, gas (only for the Common Areas), sanitary sewer, storm sewer, electricity (only for the Common Areas), and other utilities, trash removal, telephone services, insurance, janitorial and char services (only for the Common Areas), and supplies, security services, labor costs (including social security taxes and contributions and fringe benefits), charges under maintenance and service contracts (including, but not limited to, chillers, boilers, elevators, window and security services), central heating and air conditioning, management fees, business taxes, license fees, public space and vault rentals and charges, costs, charges and other assessments made by or for any entity operating expenses a business improvement district in which the Building is located, condominium fees, assessments, dues, expenses, and other charges which are paid by Landlord as a result of every kind the Building, the Land or part or all of both being part of a condominium, and nature (“Operating Expenses”) incurred the cost of any equipment or paid services provided by Landlord in connection with the maintenance, repairservicing, operation, managementmaintenance, or ownership repair and protection of the Premises. If requested, Tenant agrees to pay Landlord Building and the Land and related exterior appurtenances (whether or not provided on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expensesLease Commencement Date). Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty capital improvements made by Landlord to manage, operate or maintain the Building, together with any financing charges incurred in connection therewith, provided that such costs shall be amortized over the useful life of the improvements and public liability only the portion attributable to the calendar year shall be included in Operating Expenses for the calendar year; further provided, that capital expenditures shall be limited to (a) improvements or building elements added to the Building which in Landlord’s reasonable judgment will increase the efficiency of the Building (i.e., are reasonably anticipated by Landlord to reduce Operating Expenses as they relate to the item which is the subject of the capital expenditure or to reduce the rate of increase in the Operating Expense which relates to the item which is the subject of the capital expenditure from what it otherwise may have been reasonably anticipated to be in the absence of such capital expenditure), and (b) improvements or replacements which are required to comply with the requirements of any laws, regulations, or insurance covering or utility company requirements, except with respect to conditions existing in violation thereof on the PremisesLease Commencement Date. Operating Expenses shall not include: (i) Real Estate Tax Expenses; (ii) payments of principal and interest on any Mortgages; (iii) leasing commissions; (iv) costs of preparing, improving or altering any space in preparation for occupancy of any new or renewal tenant; (v) capital expenditures, except as specified above; (vi) costs of electricity supplied to the individual premises of tenants of the Building and the costs of special services and utilities separately paid by particular tenants of the Building; (vii) costs which are reimbursed to Landlord by insurers or by governmental authorities in eminent domain proceedings; (viii) advertising for space in the Building; (ix) costs of any equipment , services or utilities which are provided solely to one or more retail tenants of the Building, (x) ground rent or other rental payments made under any ground lease or underlying lease except to the extent that the same constitutes real estate ad valorem taxes taxes, insurance premiums or the like; (xi) salaries, wages, or other compensation paid to officers or executives of Landlord (i.e., employees above the level of portfolio manager); (xii) salaries, wages, or other compensation or benefits paid to off-site employees or other employees of Landlord who are not assigned full-time to the operation, management, maintenance, or repair of the Building; provided however, Operating Expenses shall include Landlord's reasonable allocation of compensation paid for the wages, salary, or other compensation or benefits paid to the employees at or below the level of portfolio manager, if offsite, who are assigned part-time to the operation, management, maintenance, or repair of the Building (including, but not limited to, accountants and engineers); (xiii) any costs, fines or penalties incurred due to the violation by Landlord of any governmental rule or authority, if such violation existed as of the Lease Commencement Date; (xiv) costs incurred in connection with disputes with tenants, other occupants, or prospective tenants, or costs and expenses incurred in connection with negotiations or disputes with employees, consultants, management agents, leasing agents, purchasers or mortgagees of the Building; (xv) costs incurred in connection with the sale, financing, refinancing, mortgaging, selling or change of ownership of the Building; (xvi) costs arising from the presence of Hazardous Materials in or about or below the Land or the Building, including without limitation, hazardous substances in the groundwater or soil (unless introduced into, caused or exacerbated by Tenant); and (xvii) any amounts paid to any person, firm, or corporation related to or otherwise affiliated with Landlord or any general partner, officer or director of Landlord or any of its general partners to the extent they exceed arm’s-length competitive prices paid in Rockville, Maryland for similar services of comparable quality rendered by persons or entities of similar skill, competence and experience. In the event that, during any calendar year or portion thereof during the Term, Landlord shall furnish any utility or service which is included in the definition of Operating Expenses to less than one hundred percent (100%) of the rentable area of the Building because (i) less than all of the rentable area of the Building is occupied, (ii) any such utility or service is not desired or required by any tenant, or (iii) any tenant is itself obtaining or providing any such utility or service, then the Operating Expenses for such calendar year shall be increased to equal the total expenses that Landlord reasonably estimates it would have incurred if Landlord had provided all such utilities and services to one hundred percent (100%) of the rentable area of the Building for the entire calendar year. For example, if the average occupancy rate of the Building during a calendar year is eighty percent (80%), the janitorial contractor's charges are $1.00 per occupied rentable square foot per year, and the Building contains one hundred thousand (100,000) rentable square feet of space, then it would be reasonable for Landlord to estimate that, if the Building had been one hundred percent (100%) occupied during the entire calendar year, janitorial charges for such calendar year would have been One Hundred Thousand Dollars ($100,000) and to compute the Operating Expenses for such calendar year accordingly. In no event shall the provisions of this paragraph be used to enable Landlord to collect from the tenants of the Building more than one hundred percent (100%) of the costs of and expenses incurred by Landlord in managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining Building and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoLand.

Appears in 2 contracts

Samples: Office Lease (Cellular Biomedicine Group, Inc.), Office Lease (Cellular Biomedicine Group, Inc.)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating All costs, expenses and other charges disbursements of every kind and nature (“Operating Expenses”) incurred which Landlord shall pay or paid by Landlord become obligated to pay during the Term in connection with the ownership, management, operation, maintenance, replacement and repair of the Building and the Property, including, without limitation, property management fees not to exceed three and one- half percent (3.5%) of gross revenues for the Building (the “PM Fee Cap”); costs and expenses of any capital expenditure or improvement that is Landlord’s responsibility under this Lease, and if Landlord reasonably elects to amortize such costs and expenses over a period that Landlord may reasonably determine (provided, however, that Landlord shall amortize any single expense that exceeds $100,000.00 in any calendar year), such costs and expenses shall be together with interest thereon at the lower of the rate incurred by Landlord to finance such capital expenditure or improvement or the Default Rate, provided that any such capital expenditure or improvement shall be limited to that (a) made to the Property after the Commencement Date in order to comply with Laws enacted after the Commencement Date (except to the extent such capital expenditure or improvement already is included in Operating Expenses prior to the Commencement Date), or (b) installed after the Commencement Date which are for the purpose of reducing or controlling Operating Expenses (the “Permitted Capital Expenditures”); the costs of changing utility service providers; an equitable allocation of management office expenses (including, without limitation, office rent, supplies, equipment, salaries, wages, bonuses and other compensation relating to employees of Landlord or its agents engaged in the management, operation, repair, operationor maintenance of the Campus, the costs and expenses of which shall be equitably prorated and apportioned between the Building and the other buildings or properties within the Campus); and, if Tenant and its employees have the right to use the same, the cost of operating a fitness center and/or any conference centers that are available for use by Tenant, as reasonably determined by Landlord, which centers may be located in other buildings in the Campus. Notwithstanding anything to the contrary in the preceding paragraph, Operating Expenses shall not include: (i) costs of alterations of or improvements to the premises of tenants of the Project or Campus, (ii) costs or expenses of capital expenses or improvements to or of the Building or any other part of the Project or Campus, other than Permitted Capital Expenditures, (iii) depreciation charges, (iv) interest and principal payments on loans (except for loans for Permitted Capital Expenditures as provided above), (v) ground rental payments, (vi) real estate brokerage and leasing commissions, (vii) advertising and marketing expenses, (viii) costs of Landlord to the extent reimbursed by insurance proceeds, tenants, or other third parties, (ix) expenses incurred in negotiating leases of tenants in the Project or Campus or enforcing lease obligations of tenants in the Project or Campus, (x) accountants’ fees, attorneys’ fees and other professional fees and costs incurred in connection with the defense of Landlord’s title to or interest in the Project or Campus or any part thereof, and the sale, transfer, financing or refinancing of the Project or Campus, (xi) Landlord’s general corporate overhead, (xii) costs incurred in connection with services or other benefits which are provided to tenants or occupants other than Tenant, but not made available to Tenant, (xiii) reserves, including reserves for capital expenditures or improvements, bad debts, or rental losses, (xiv) costs incurred in connection with upgrading the Building and/or any other part of the Project or Campus to comply with the current interpretation of disability, life, fire and safety codes, ordinances, statutes, or other Laws in effect on the Commencement Date, including, without limitation, the ADA (as defined below), and including penalties or damages incurred due to such non-compliance (except to the extent such capital expenditure or improvement already is included in Operating Expenses prior to the Commencement Date), (xv) wages, salaries or other compensation paid to any employee of Landlord (A) not dedicated full time to the Project or Campus (unless such costs are reasonably prorated to reflect time spent on the Campus) and/or (B) having a rank higher than Campus Director, (xvi) utility costs for which any tenant or occupant contracts directly with the utility provider, or resulting from excess or after-hours usage by other tenants or occupants of the Project or Campus, or for which Landlord is reimbursed directly by a tenant, (xvii) costs incurred in connection with any environmental investigation, monitoring, clean up, response action, or remediation with respect to a condition in existence on or prior to the Commencement Date on, in, under or about the Premises, the Building or any other part of the Property, (xviii) deductibles under any insurance policy in excess of Twenty-Five Thousand Dollars ($25,000.00) in any one calendar year, (xix) property management, asset management or ownership other management fees other than property management fees not to exceed the PM Fee Cap, and (xx) any item that, if included, in Operating Expenses, would involve a double collection for such item by Landlord. In the event there exists a conflict as to an expense that is specified to be included in Operating Expenses and is also specified to be excluded from Operating Expenses within the above list, the exclusions listed above shall prevail and the expenses shall be deemed excluded. If any Operating Expense, though paid in one (I) year, relates to more than one calendar year, at the option of Landlord such expense may be proportionately allocated among such related calendar years; provided that only those periods falling within the Term of the PremisesLease shall be allocated to Tenant. If requestedLandlord agrees that Landlord will not collect or be entitled to collect Operating Expenses from Tenant in an amount in excess of Tenant’s Share of one hundred percent (100%) of the Operating Expenses attributable to the Building and the remainder of the Project or Campus. In addition, Tenant agrees Operating Expenses shall be reduced by all cash discounts, trade discounts or quantity discounts received by Landlord or Landlord’s managing agent in the purchase of any goods, utilities or services in connection with the prudent operation of the Building. Operating Expenses for the Property that are not, in Landlord’s reasonable discretion, allocable solely to pay either the office or laboratory portion of the Building shall be equitably allocated by Landlord between/amongst such uses. The above enumeration of services and facilities shall not be deemed to impose an obligation on Landlord to make available or provide such services or facilities except to the first day extent if any that Landlord has specifically agreed elsewhere in this Lease to make the same available or provide the same. PREMISES: The space located in the Building at the Suite Numbers listed in Section 1.1 and depicted on Exhibit A attached hereto. PROJECT or PROPERTY: The Project consists of each calendar monththe office and laboratory building located at the street address specified in Section 1.1, and associated surface and garage parking as designated by Landlord from time to time, landscaping and improvements, together with the payment Land, any associated interests in real property, and the personal property, fixtures, machinery, equipment, systems and apparatus located in or used in conjunction with any of rentthe foregoing. The Project may also be referred to as the Property. PROJECT’S SUSTAINABILITY PRACTICES: The operations and maintenance practices for the Building, such amount whether incorporated into the Building’s Rules and Regulations, construction rules and regulations or separate written sustainability policies of Landlord with respect to the Building or the Project, as Landlord estimates the same may be revised from time to time so long as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of revisions do not materially and adversely impact Tenant’s installments during use of the year shall be less than the amount of Operating Expenses due from Premises or materially increase Tenant’s costs, such deficiency shall addressing, among other things: energy efficiency; energy measurement and reporting; water usage; recycling, composting, and waste management; indoor air quality; and chemical use. REAL PROPERTY: The Property excluding any personal property. RENT: Collectively, Monthly Base Rent, Rent Adjustments and Rent Adjustment Deposits, and all other charges, payments, late fees or other amounts required to be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoTenant under this Lease.

Appears in 2 contracts

Samples: Work Agreement (Caribou Biosciences, Inc.), Work Agreement (Caribou Biosciences, Inc.)

Operating Expenses. During Operating Expenses" shall mean all expenses paid or incurred by Landlord or on Landlords behalf in respect of the term management, repair, operation and maintenance of this Lease Tenant shall pay the Building Area, including without limitation: (a) salaries, wages, other compensation and benefits of employees of Landlord engaged in the management, repair, operation and maintenance of the Building Area (prorated, in the case of employees who devote less than all of their working time to Landlord as additional rent the Building Area, to reflect the proportion of their working time devoted to the Building Area); (b) payroll taxes, social security taxes, federal, state and local unemployment taxes, workers' compensation, uniforms and related expenses for such employees; (c) the cost of all ad valorem taxes and operating expenses charges for oil, gas, steam, electricity, any alternate source of energy, heat, ventilation, air-conditioning, water, sewers and other charges utilities furnished to the such costs shall be reasonably amortized by Landlord over the useful life of every kind any improvements, additions, machinery or equipment, and nature the Landlord shall receive interest on the unamortized costs at the prime rate then available from the largest bank in the state in which the Building is located; (m) management and other personnel fees for management and operation of the Building and Common Area or, if no managing agent is employed by Landlord, a sum in lieu thereof which is not in excess of the then prevailing rates for management fees of other first class office buildings in the area in which the Building is located; (n) the cost of installing, purchasing, operating, maintaining and repairing any security system or Common INC (as defined in Section 5.5 hereof); (o) the cost of any capital improvements or additions to the Building Area and of any machinery or equipment installed in the Building Area which are made or become operational, as the case may be, during the Term and which have the effect of reducing the expenses which otherwise would be included in Operating Expenses to the extent of the lesser of (i) such cost, as reasonably amortized by Landlord over the useful life of the improvements, additions, machinery or equipment, plus interest on the unamortized amount at the prime rate then generally available in the State in which the Building is located, or (ii) the reasonably estimated amount of such reduction in Operating Expenses; (p) reasonable legal, accounting and other professional fees incurred or paid by Landlord in connection with the maintenanceoperation, maintenance and management of the Building Area; (q) the proportion of all administrative and other expenses of maintaining an office for management attributable to the Building Area; (r) license, permit and inspection fees required in connection with operation of the Building Area; (s) all charges and assessments on the Building pursuant to any applicable CC&Rs; and (t) all other charges properly allocable to the repair, operation, management, or ownership operation and maintenance of the PremisesBuilding Area in accordance with generally accepted BONIA building operating standards. If requestedthe Building is not fully occupied, Tenant agrees to pay Landlord on Operating Expenses shall be adjusted at the first day expiration of each calendar monthLease Year as if the Building were fully occupied. "Fully occupied" shall be defined as the greater of actual occupancy or occupancy of ninety five percent (95%) of the net rentable area of the Building. Notwithstanding the above, together the following shall be excluded from Operating Expenses: (aa) depreciation (except as provided above); (bb) interest on and amortization of debts; (cc) leasehold improvements including redecorating made for tenants of the Building; (dd) brokerage commissions and advertising expenses for procuring new tenants of the Building; (ee) refinancing costs; (ff) the cost of any repair or replacement (other than as described in clauses (a) through (t) above) which would be required to be capitalized under generally accepted accounting principles, except that if under such principles such costs may be amortized over a period of not more than ten years, then a proportionate part of such cost may be included each year in Operating Expenses over the useful life (as reasonably estimated by Landlord) of such repair or replacement; (gg) Taxes (as defined in Section 4.2 hereof); (hh) the cost of any repair, replacement or alteration to the Building Area necessary to comply with the payment ADA to the extent such repair, replacement or alteration is not caused by Tenant's use of rentthe Premises or other of Tenant's actions; (ii) the cost of any item included in Operating Expenses under clauses (a) through (t) above to the extent that such cost is reimbursed by an insurance company or a condemnor or a tenant (except as a reimbursement of Operating Expenses) or any other party, but if at the time Operating Expenses are determined for a calendar year such reimbursement has not been made, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall expenses may be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of included in Operating Expenses and Rent. As used herein, the term “Operating Expenses” an adjustment shall include the cost of maintaining casualty be made when and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoif such reimbursement is actually received.

Appears in 1 contract

Samples: Office Lease (Sitestar Corp)

Operating Expenses. During Collectively, the term aggregate of this Lease Tenant shall pay those amounts actually incurred and paid with respect to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repairthe, operation, management, or ownership leasing and occupancy of the Premises. If requestedLand and Improvements, Tenant agrees determined on a cash basis, except as otherwise specified herein, with respect to pay Landlord the Project for the immediately preceding DSC Period including, but not limited to, any and all of the following (but without duplication of any item): (i) real property taxes calculated on an accrual basis (and not on the first day cash basis) of each accounting for the DSC Period; such accrual accounting for real property taxes shall be based upon taxes actually assessed for the current calendar year, or if such assessment for the current calendar year has not been made, then until such assessment has been made (and with any retroactive adjustments for prior calendar months as may ultimately be needed when the actual assessments has been made) real property taxes for the DSC Period shall be estimated based on the last such assessment for the Project; (ii) foreign, U.S., state and local sales, use or other taxes, except for taxes measured by net income; (iii) special assessments or similar charges against the Project; (iv) costs of utilities, air conditioning and heating for the Project to the extent not directly paid by lessees or tenants; (v) maintenance and repair costs for the Project; (vi) a capital expenditure reserve in the amount of $1,662.50 per month; (vii) management fees; provided, together with however, the payment amount of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord management fees which may be charged hereunder shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall not be less than the amount sum of Operating Expenses due from Tenantthree percent (3.00%) of the Gross Income for each applicable calendar month; (viii) all salaries, wages and other benefits to "on-site" employees of Borrower or Borrower's property manager (excluding all salaries, wages and other benefits of officers and supervisory personnel, and other general overhead expenses of Borrower and Borrower's property manager) employed in connection with the leasing, maintenance and management of the Project which are specifically not included within the management fee outlined in subparagraph (vii) above; (ix) insurance premiums calculated on an accrual basis (and not on the cash basis) of accounting for the DSC Period; such deficiency accrual accounting for insurance premiums shall be based upon the insurance premiums for the Project which was last billed to Borrower, adjusted to an annualized premium if necessary; (x) an amortized and prorated allocation of advertising and promotion costs for leasing space in the Project; (xi) outside accounting and audit fees and costs and administrative expenses in connection with the direct operation and management of the Project; (xii) any payments, and any related interest thereon, to lessees or tenants of the Project with respect to security deposits or other deposits required to be paid to Landlord within ten tenants but only to the extent any such security deposits and related interest thereon have been previously included in Gross Income; (10xiii) days after demand thereforeto the extent not otherwise included in items (i) through (xii) above, amounts reimbursable as Tenant Reimbursements; and (xiv) rents and other sums payable by Borrower under the Ground Lease. In Notwithstanding anything to the event contrary as being included in the aggregate definition of Tenant’s installments during the year Operating Expenses, there shall be more than the amount of excluded from Operating Expenses due from Tenant, such overpayment shall be applied the following: (i) depreciation and any other non-cash deduction allowed to Tenant’s next monthly installment of Operating Expenses Borrower for income tax purposes and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes (ii) any and all principal, interest or other costs of managing, operating and maintaining paid under or with respect to the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection Note or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoLoan.

Appears in 1 contract

Samples: Construction Loan Agreement (Stratus Properties Inc)

Operating Expenses. During Commencing on the term first day of this the second Lease Year and continuing throughout the Lease Term, Tenant shall agrees to pay to Landlord Landlord, as additional rent Additional Rent, Tenant’s Proportionate Share, as set forth in Section 1(a)(4), of operating expenses. The term “operating expenses” shall mean any and all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenanceowning, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating operating, maintaining, servicing, insuring and maintaining repairing the PremisesBuilding, including but not limited to: (1) wages and salaries of all employees engaged in the management, operation or maintenance of the Building, including taxes, insurance and benefits relating hereto (equitably prorated to the extent any employees works at any building other than the Building); (2) all supplies, materials, equipment and tools used in the operation or maintenance of the Building; (3) cost of all maintenance and service agreements for the Building and the equipment therein, including but not limited to controlled access and energy management services, generator maintenance, window cleaning and elevator maintenance; (4) cost of all insurance relating to the Building, including the cost of casualty, liability and rent loss insurance applicable to the Building and Landlord’s personal property used in connection therewith; (5) general and special repairs and maintenance; (6) management fees, which shall not exceed 3% of the gross revenues of the Building (it being understood and agreed that the current management fee is 2.75%); (7) legal, accounting, auditing and other professional fees; (8) the cost of any additional services not provided to the Building at the Commencement Date of the Lease Term, but thereafter provided by Landlord in the prudent management of the Building; (9) intentionally deleted; (10) costs for char service and cleaning supplies; (11) costs for utility services such as electricity, gas, water and sewage, generator fuel, including the cost of heating and cooling the Building (it being understood and agreed that amounts that are separately payable by tenants for utilities shall not be included in operating expenses) ; (12) the cost of any capital improvements or alterations made to the Building after the Commencement Date, that reduce other operating expenses, or which are required under any governmental law or regulation that was not applicable to the Building at the Effective Date, such cost to be amortized over the useful life of such capital improvement or alteration in accordance with generally accepted accounting principles, together with interest on the unamortized balance at the rate paid by Landlord on funds borrowed for the purposes of constructing said capital improvements (or, in the event that Landlord elects not to borrow funds to construct such capital improvements, at the rate that Landlord would have paid had it borrowed funds for the purpose of constructing said improvements) (the cost of such capital improvements or alterations, together with interest thereon shall hereinafter be collectively referred to as the “Permitted Capital Expenditures”); (13) transportation district fees, parking district fees, and the cost of other amenities required by law; (14) cost of onsite Building management office expenses and directly allocable offsite management expenses, including telephone, rent, stationery and supplies; (15) costs of constructing, maintaining all elevator and repairing on site escalator (if installed in the Building) maintenance and off-site traffic controlsoperation; decorating, painting, lighting, sanitary control, and removal (16) cost of trash, providing security; (17) cost of providing garbage and other refusesnow removal and pest control; maintenance(18) cost of decoration of Common Areas; (19) cost of landscaping; (20) cost of maintenance and operation of the parking area; (21) costs and fees charged and/or assessed in connection with any business improvement district that is applicable to the Building; (22) subject to clause (12) above, repair the cost of operating, replacing, modifying and/or adding improvements or equipment mandated by any law, statute, regulation or directive of any governmental agency and replacement any repairs or removals necessitated thereby (including, but not limited to, the cost of utility systems serving complying with the Americans With Disabilities Act and regulations of the Occupational Safety and Health Administration); (23) payments made by Landlord under any common areaseasement, license, operating agreement, declaration, restrictive covenant, or instrument pertaining to the payment or sharing of costs among property owners; (24) any business property taxes or personal property taxes imposed upon the fixtures, machinery, equipment, furniture and personal property used in connection with the operation of the Building; (25) the cost of all business licenses, including waterBusiness Professional and Occupational License Taxes and Business Improvements Districts Taxes, sanitary sewer and storm water lines and any gross receipt taxes based on rental income or other utility linespayments received by Landlord, pipes and conduitscommercial rental taxes or any similar taxes or fees; costs of utilities(26) transportation taxes, fees or assessments, including waterbut not limited to, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup mass transportation fees, licensesmetrorail fees, permits trip fees, regional and inspection transportation district fees; parking lot painting (27) all costs and restripingexpenses associated with or related to the implementation by Landlord of any transportation demand management program or similar program; planting, irrigating, gardening (28) fees assessed by any air quality management district or other governmental or quasi-governmental entity regulating pollution; (29) the cost of any other service provided by Landlord or any cost that is elsewhere stated in this Lease to be an “operating expense”; (30) operating expenses incurred in connection with the Project to the extent that they are attributable to the Building; (31) a reasonable rental rate and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general costs for the operation and maintenance of a fitness facility; (32) a reasonable rental rate and all other costs for the operation and maintenance of a conference facility; and (33) a reasonable rental rate and all other costs for the operation and maintenance of a management office (not to exceed 1,600 square feet of rentable area). Real Property Taxes (as defined in Section 5 hereof) shall be paid in accordance with Section 5 below and shall not be included in operating expenses. Landlord shall have the right but not the obligation, from time to time, to equitably allocate some or all of the operating expenses among different tenants of the Project or among the different buildings which comprise the Project (the “Cost Pools”). Such Cost Pools may include, but shall not be limited to, the office space tenants of the Project and the retail space tenants of the Project. Notwithstanding anything in this Lease to the contrary, the preceding list is for definitional purposes only and shall not impose any obligation upon Landlord to incur such expenses or provide such services. “Operating expenses” shall not include any of the following, except to the extent that such costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.expenses are included in operating expenses as described above:

Appears in 1 contract

Samples: Deed of Lease (Opgen Inc)

Operating Expenses. During Landlord's Operating Expenses" means the term cost of operation of the Building and the Site which shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation, the following: premiums for insurance carried with respect to the Building and the Site (including, without limitation, liability insurance, insurance against loss in case of fire or casualty and insurance of monthly instalhnents of fixed rent and any Additional Rent which may be due under this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other leases of space in the Building for not more than twelve (12) months in the case of both fixed rent and Additional Rent and if there be any first mortgage of the Property, including such insurance as may be required by the holder of such first mortgage); compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid to, for or with respect to all persons engaged exclusively in the operating, maintaining or cleaning of the Building or Site (and in the event such persons are also employed on other properties of Landlord or its affiliates, such compensation shall be equitably prorated among the Building and such other propertie ), water, sewer, electric, gas, oil and telephone charges (excluding utility charges separately chargeable to tenants for additional or special services); cost of every kind building and nature cleaning supplies and equipment; cost of maintenance, cleaning and repairs (“Operating Expenses”other than repairs not properly chargeable against income or reimbursed from contractors under guarantees); cost of snow removal and care of landscaping; cost of operating, maintaining, cleaning and providing utilities to any conference center or other amenities serving the Building; payments under service contracts with independent contractors; management fees at reasonable rates for self managed buildings consistent with the type of occupancy and the service rendered, which management fees shall not exceed three percent (3%) incurred or paid by Landlord of gross revenues; costs of maintaining a regional property management office (allocated pro rata among all properties within the region) in connection with the maintenance, repair, operation, management, or ownership management and maintenance of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together Building; and all other reasonable and necessary expenses paid in connection with the payment operation, cleaning and maintenance of rentthe Building and the Site and properly chargeable against income, such amount as provided, however, there shall be included (a) depreciation for capital expenditures made by Landlord estimates from time during the Lease Term (i) to time as necessary to pay such expenses. reduce Landlord's Operating Expenses if Landlord shall xxxx Tenant annually have reasonably determined that the annual reduction in Landlord's Operating Expenses shall exceed depreciation therefor or (ii) to comply with applicable laws, rules, regulations, requirements, statutes, ordinances, by-laws and court decisions of all public authorities which are first applicable to the Property after the end Commencement Date (the capital expenditures described in subsections (i) and (ii) being hereinafter referred to as ''Permitted Capital Expenditures"); plus (b) in the case of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.both

Appears in 1 contract

Samples: Agreement of Sublease (Care.com Inc)

Operating Expenses. During Upon the term consummation of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes any transfer of the QPRC Shares, the Transferred Leased Properties and operating the Affiliate Properties in accordance with the foregoing, the expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord arising in connection with the maintenanceownership or operation of the Owned U.S. Real Properties, repairthe Transferred Leased Properties and the Affiliate Properties shall be apportioned between the transferor and the transferee of said shares and properties as of the Separation Date. In particular, operation(a) rent under any third party (sub)lease shall be apportioned as of the Separation Date, managementregardless of whether or not such rent has been paid to Seller and any rent arrearages attributable to periods prior to the Separation Date which are collected after the Separation Date shall be reimbursed to the transferee promptly upon collection, (b) real estate taxes and assessments shall be prorated as of the Separation Date based on the best available information, (c) the transferee shall receive any security deposits of (sub)lessee's held by the transferor or its affiliates, (d) all operating expenses or additional charges of any other nature reimbursable by (sub)tenants under any (sub)lease and all reimbursements by (sub)tenants of such charges shall be apportioned between the transferor and the transferee as of the Separation Date, (e) all utilities shall be apportioned as of the Separation Date, (f) interest, principal and other amounts payable under the CS First Boston Loan, the Transferred Leased Properties Assumed Leases & Contract, and the Affiliate Properties Assumed Leases & Contracts shall be prorated to the Separation Date, (g) annual or periodic permit and/or inspection fees (calculated on the basis of the period covered) and insurance premiums (as to those policies, if any, that the transferee continues after the Separation Date, shall be apportioned between the parties as of the Separation Date; and (g) any other recurring costs of the operation and ownership of said properties shall be apportioned between the Premisesparties as of the Separation Date. If requested, Tenant agrees to pay Landlord any of the aforesaid prorations cannot be calculated accurately on the first day of each calendar monthSeparation Date, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year then they shall be less than estimated (to the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10extent reasonably possible) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required calculated as soon thereafter as is feasible with payment by the foregoing; and administrative costs directly attributable theretoresponsible party to the other party promptly thereafter following written demand.

Appears in 1 contract

Samples: Real Estate Matters Agreement (Maxtor Corp)

Operating Expenses. During Landlord and Tenant hereby agree that, except as described in the second paragraph of this Section and except with respect to any expense which is defined hereunder to be the responsibility of Landlord, it is the intention of the parties that this Lease shall be absolutely net to Landlord, so that this Lease shall yield, net to Landlord, the base rent specified in Article 2. Accordingly, all reasonable costs or expenses of whatever character, nature or kind, general and special, ordinary and extraordinary, foreseen or unforeseen, that may be necessary with respect to the occupancy, use or operation of the leased premises and any improvements thereon, and Tenant's authorized use thereof during the entire term of this Lease, shall be paid by Tenant. All provisions of this Lease relating to costs and expenses are to be construed in light of such intention and purpose to construe this lease as a "net lease." In addition to the monthly installments of base rent, subject to the specific exclusions set forth in this Article 33, Tenant shall pay to Landlord on a monthly basis as additional rent Additional Rent during the term hereof all ad valorem taxes reasonable costs and operating expenses and other charges of every kind relating to the leased premises, including but not limited to utilities and nature (“all "Operating Expenses”) ," which shall mean all costs and expenses incurred or paid by Landlord in connection managing, cleaning, operating, maintaining, repairing and insuring the leased premises and the amortized cost of equipment used in maintenance; and capital improvements necessary to preserve or maintain the leased premises and all improvements to the leased premises or required by any law, rule, regulation or order of any governmental or quasi-governmental authority. Capital expenditures that otherwise qualify to be included in Operating Expenses will be depreciated at 8% over the useful life of the capital item as determined under U. S. Generally Accepted Accounting Principles and only one year's depreciation shall be included in Operating Expenses in any given year. Operating Expenses shall include, but not be limited to, management fees and expenses not to exceed 4.5% of gross rent each year, the total cost incurred for fire and extended coverage and liability insurance premiums due and payable with respect to the leased premises; water; sewer; gardening, lawn and landscape care; paving maintenance and repair; snow removal; line painting; sign maintenance; exterior maintenance and repair; security equipment and services and the costs of personnel and contractors to implement said services, repair, operation, management, but specifically excluding structural repairs which are the responsibility of Landlord pursuant to Article 6 hereof. Operating Expenses shall specifically exclude costs reimbursed by insurance proceeds or third parties; interest or other payments on indebtedness of Landlord; leasing commissions; marketing or advertising expenses; professional fees related to ownership of the Premisesproperty, financing of the property or related to other existing or prospective tenants; tenant improvements; income taxes; late fees incurred by Landlord for late payment of bills; amounts paid to an affiliate of Landlord that are in excess of competitive rates for similar quality goods or services; expenses resulting from the negligence of Landlord, its employees, vendors and invitees; costs incurred to repair defects in original design or construction of the building; bad debt or loss reserve or capital reserve amounts; charitable expenditures; travel costs; expenses for repairs or maintenance to the extent same are reimbursed to Landlord due to warranties, guaranties or service contracts by third parties; or education costs. If requestedOperating Expenses shall be paid by Tenant in monthly installments in such amounts as are estimated and billed by Landlord at the beginning of each twelve (12) month period commencing and ending on dates designated by Landlord, Tenant agrees to pay Landlord each installment being due on the first day of each calendar month. If at any time during such twelve (12) month period, together with it shall appear that Landlord has underestimated or overestimated Operating Expenses, Landlord may re-estimate Operating Expenses and may bill Tenant for any deficiency (or credit Tenant for any excess, as 20 the payment of rent, case may be) which may have accrued during such amount as Landlord estimates from time to time as necessary to pay such expensestwelve (12) month period and thereafter the monthly installment payable by Tenant shall also be adjusted. Landlord shall xxxx Tenant annually Within one hundred (100) days after the end of each year such twelve (12) month period, Landlord shall deliver to Tenant a statement of Operating Expenses by line item and Real Estate Taxes for such expensestwelve (12) month period and the monthly installments paid or payable shall be adjusted between Landlord and Tenant, and each party hereby agrees that Tenant shall pay Landlord or Landlord shall credit Tenant' s account (or, if such adjustment is at the end of the term, pay Tenant), within thirty (30) days of receipt of such statement, the amount of any excess or deficiency in Operating Expenses and Real Estate Taxes paid by Tenant to Landlord during such twelve (12) month period. Failure of Landlord to provide the statement called for hereunder within the time prescribed shall not relieve Tenant from its obligations hereunder. Provided no material event of default has occurred and is continuing, Tenant or representatives designated by Tenant may inspect and copy Landlord's books and records related to Operating Expenses which shall be maintained by Landlord during the term of this Lease and for one (1) year after the expiration or earlier termination of this Lease. Tenant's inspection shall be conducted in the location where Landlord maintains the books and records during reasonable business hours and upon no less than ten (10) business days' advance written notice. Such notice shall be provided within 90 days following delivery by Landlord of the finalized statement of Operating Expenses for the prior year. In the event that the aggregate books and records are not made available within a reasonable time after Tenant's request, no further payment of estimated Operating Expenses shall be due until Tenant is furnished reasonable access to the books and records. Tenant shall pay for the costs of its inspection; provided, however, that if it is determined that Operating Expenses are in error by an amount of three percent (3%) or more of Tenant’s installments during 's Operating Expenses for the year in question, then Landlord shall reimburse Tenant (x) for its reasonable out-of-pocket costs for the inspection and (y) the full amount of such overpayment, with interest at the then prevailing Prime Rate (as set forth in the Wall Street Journal) plus two percentage points from the date of such overpayment until the date payment is made by Landlord. Landlord shall not charge an administrative or other fee to accommodate such inspection. If, after such inspection, Tenant still disputes the statement of Operating Expenses, then either party may refer the decision of the issues raised to a final and binding arbitration in Minneapolis, Minnesota, in accordance with the Commercial Arbitration Rules of the American Arbitration Association then in effect. Landlord and Tenant shall cooperate with each other to conclude such arbitration on an expedited basis. The reasonable fees and expenses involved in such arbitration shall be less than born by the amount party that did not prevail in the arbitration. During the first lease year, based on only 25,000 square feet in the leased premises, Tenant's share of Operating Expenses due from Tenant, such deficiency shall be paid to $55,942.00 for the year, payable in equal monthly installments with base rent. During the first lease year, Landlord within ten (10) days after demand therefore. In shall discount the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of by $37,192.00 so that the actual net Operating Expenses and Rent. As used herein, paid by Tenant in the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretofirst lease year are $18,750.00.

Appears in 1 contract

Samples: Lease (Atmi Inc)

Operating Expenses. During Lessee agrees to pay its pro rata share of real property taxes, casualty and extended coverage property insurance, water to the term common area of the Building to the extent not separately metered, common area maintenance (including landscaping and snow removal) and exterior maintenance incurred within Phase VI of the Presidential Business Park of which the Premises are a part (collectively, Operating Expenses). Operating Expenses shall not include (i) costs and expenses incurred to bring the Building or the Center into compliance with any federal, state or local laws, statute or ordinance applicable to the Building or the Center as of the Lease Commencement Date or due to defects or deficits in the original construction thereof or Lessor's improvements thereto, provided such defects have not been caused by Lessee's improvements or construction, (ii) the costs of repairs or other work incurred by reason of fire, windstorm or other casualty required to be insured against hereunder, except for reasonable deductibles paid under insurance policies maintained by Lessor; (iii) costs associated with the operation of the business of Lessor and/or the sale and /or financing of the Building or the Center as distinguished from the cost of Building operations, maintenance and repair; (iv)costs of disputes between Lessor and its employees, tenants or contractors; (v) costs of alterations or improvements which under generally accepted accounting principles are properly classified as capital expenditures, except (A) improvements or replacements to structural elements of the Building or Building systems (excluding HVAC) following expiration of their useful life or (B) that are directly caused by Lessee's use of the Premises or (C) to comply with any new governmental regulation arising out of Lessee's use and not applicable to the Building as of the Lease Commencement Date; and (vi)costs incurred in remediating any environmental contamination. Further, it is agreed that Lessee shall not be charged a management fee. For purposes of this Lease Tenant Lease, Lessee's pro rata share of Operating Expenses as of the Rent Commencement Date is 7.48%, based on 12,711 sq.ft. in the Premises, and 169,880 sq.ft. in Phase VI of the Business Park. Budgeted expenses for this Phase based upon 100% shell occupancy are $.085 PSF per month, which includes $.055 property taxes, $.005 insurance, $.025 landscape, snow removal and other exterior maintenance, and water provided to common areas as well as tenants of the Building who are not separately metered. Commencing with the Rent Commencement Date, Lessee shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection Lessor with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the monthly payment of rent, such amount as Landlord estimates from time Base Rent the sum of $1,080.00 per month to time as necessary be applied to pay such expensesOperating Expenses payable by Lessee. Landlord shall xxxx Tenant annually after Within ninety (90) days following the end of each calendar year for such expenses. In the event the aggregate of Tenant’s installments during the year term (or the earlier termination of this Lease), Lessor shall be less than the amount provide Lessee with a statement setting forth in reasonable detail Lessee's share of Operating Expenses due from Tenantfor the preceding year, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate Lessor's estimate of Tenant’s installments during the year shall be more than the amount Lessee's pro rata share of Operating Expenses due from Tenantfor the then current calendar year, such overpayment shall be applied to Tenant’s next and the new monthly installment amount payable by Lessee for the then current year's expenses. Lessee's share of Operating Expenses and Rentshall not increase more than 5% over any previous calendar year. As used hereinWithin thirty (30) days following presentation of Lessor's statement, Lessor shall refund to Lessee the term “full amount of any overpayments of Operating Expenses” Expenses made by Lessee for the preceding year or Lessee shall include pay to Lessor the cost full amount of maintaining casualty and public liability insurance covering underpayments of Operating Expenses for the Premisespreceding year. Should any line item of Operating Expenses increase by more than 3% over the previous calendar year, real estate ad valorem taxes and all costs Lessor shall, if Lessee so requests, provide third party invoices evidencing payment of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretosuch costs.

Appears in 1 contract

Samples: Lease (Pac-West Telecomm Inc)

Operating Expenses. During In addition to the term of this Lease Monthly Base Rent, Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount Percentage of Operating Expenses due from Tenant(which includes all costs and expenses of operation and maintenance of the Common Areas and the Site), such deficiency shall be paid to Landlord within ten (10) days after demand thereforein the manner and at the times set forth in the following provisions of this Section 1.18. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall consist of all costs and expenses of operation, maintenance and repair of the Building and Common Areas as determined by standard accounting practices and calculated assuming the Building is at least ninety-five percent (95%) occupied, together with all costs and expenses of operation and maintenance of the Common Areas and the Site as determined by standard accounting practices and calculated assuming the Property is at least ninety-five percent (95%) occupied. Operating Expenses include the cost following costs by way of maintaining casualty illustration but not limitation: (i) any and public liability insurance covering all assessments imposed with respect to the Building, Common Areas, and/or Site pursuant to any covenants, conditions and restrictions affecting the Property; (ii) costs, levies or assessments resulting from statutes or regulations promulgated by any government authority in connection with the use or occupancy of the Site, Building or the Premises, real estate ad valorem taxes and ; (iii) all costs of managing, operating utilities serving the Common Areas and maintaining the Premises, including but not limited to: any costs of constructingutilities for the Premises which are not separately metered, maintaining (iv) all Taxes and repairing on site Insurance Costs as defined in the Standard Lease Provisions, (v) waste disposal; (vi) security, if any; (vii) costs incurred in the management of the Site, Building and off-site traffic controls; decoratingCommon Areas, paintingincluding, lightingwithout limitation: (1) supplies, sanitary controlmaterials, equipment and removal tools, (2) wages, salaries, benefits, pension payments, fringe benefits, (and payroll taxes, insurance and similar governmental charges related thereto) of trashemployees used in the operation and maintenance of the Site, garbage Building and other refuse; Common Areas, (3) the rental of personal property used by Landlord’s personnel in the maintenance, repair and operation of the Property, (4) accounting fees, legal fees and real estate consultant’s fees, and (5) a management/administrative fee equal to 3% of Monthly Base Rent, provided, however, that during the Rent Abatement Period, the management/administrative fee shall be calculated as if the Monthly Base Rent were $16,090.20 each month; (viii) repair and maintenance of other portions of the Building other than such portions as are maintained by Tenant, including the elevators (if any), restrooms (if any), structural and non-structural portions of the Building, and the plumbing, heating, ventilating, air-conditioning and electrical systems installed or furnished by Landlord and not maintained by Tenant pursuant to Section 8.2 of the Standard Provisions; (ix) maintenance, costs and upkeep of all parking and Common Areas; (x) amortization on a straight-line basis over the useful life of the capital improvement related work based on generally accepted accounting principles, together with interest at the Interest Rate (as defined in Section 1.12 of the Lease Summary) on the unamortized balance of all costs of a capital nature (including, without limitation, capital improvements, capital replacements, capital repairs, capital equipment and capital tools): (1) reasonably intended to produce a reduction in operating charges or energy consumption; or (2) required after the date of this Lease under any Law that was not applicable to the Building at the time it was originally constructed; or (3) for repair or replacement of utility systems serving any common areasequipment or improvements needed to operate and/or maintain the Building, including water, sanitary sewer the Common Areas and/or the Site at the same quality levels as prior to the repair or replacement; (xi) costs and storm water lines and other utility lines, pipes and conduits; costs expenses of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; (xii) maintenance of signs (other than signs of tenants of the Site); (xiii) personal property taxes levied on or attributable to personal property used in connection with the Building, the Common Areas and/or the Site; and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance (xiv) costs and expenses; all labor expenses of repairs, resurfacing, repairing, maintenance, painting, lighting and supplies required by similar items, including appropriate reserves for anticipated Operating Expenses for the foregoing; and administrative costs directly attributable thereto.next ensuring twelve month period. As of the date of this Lease, Landlord represents that Operating Expenses for the calendar year 2010 the monthly Operating Expenses is estimated to be $0.23 per rentable square foot per month in the Premises,

Appears in 1 contract

Samples: Work Letter Agreement (Gigamon LLC)

Operating Expenses. During This Lease is a triple net lease, and Base Rent shall be paid to Landlord absolutely net of all costs and expenses relating to the term Building and Tenant’s Proportionate Share (defined below) of the Complex, except as specifically provided to the contrary in this Lease. As used in this Lease, Tenant’s “Proportionate Share” of Operating Expenses, Real Property Taxes and other Direct Expenses (as defined below in this Paragraph 5(e)) or other amounts payable by Tenant shall be deemed to be thirty-six percent (36%), provided that with respect to any Operating Expenses that are allocable solely to the Building (and not to the Other Building) Tenant’s Proportionate Share shall be one hundred percent (100%). Similarly, with respect to Operating Expenses that are allocable solely to the Other Building (or any collection of buildings now or hereafter located at the Complex but not the Building), Tenant’s Proportionate Share will be zero percent (0%). The parties hereby agree that the Premises contain 64,000 rentable square feet, there shall be no adjustment in the Base Rent or other amounts set forth in this Lease that are determined based upon rentable or usable square feet of the Premises, and Tenant shall have no right to terminate this Lease or receive any adjustment or rebate of any Base Rent or Additional Rent payable hereunder if the square footage of the Complex or the Premises is incorrect. However, if the rentable area of the Complex is changed by the construction of new rentable area on the Land (other than with regard to increases to the rentable area of the Building as the result of the Lobby Changes, if any, made by Tenant pursuant to Section 5.7 of the Tenant Work Letter), Tenant’s Proportionate Share shall be adjusted accordingly. Beginning on the first (1st) day immediately following the expiration of the Additional Rent Abatement Period, Tenant shall pay to Landlord or to Landlord’s designated agent, in addition to the Base Rent and as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature Additional Rent, the following (collectively, Operating Direct Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.):

Appears in 1 contract

Samples: Lease (Neophotonics Corp)

Operating Expenses. During If the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord Expenses for the Property, in connection with any calendar year during the maintenanceTerm, repair, operation, management, or ownership of exceed the Premises. If requestedOperating Expenses for the Base Year, Tenant agrees to pay as additional monthly rent the Proportionate Share of such excess Operating Expenses, as estimated by Landlord on from time to time. During any partial calendar year of the first day Term (such as the year in which the Commencement Date occurs and the year in which the Terminates), Tenant’s Proportionate Share of Operating Expenses shall be adjusted based upon the actual number of days contained within the Term during such partial calendar year. By April 30th of each calendar monthyear, together with Landlord will provide Tenant an itemized statement showing in reasonable detail all additional rent due (or any overpayments made) under this Section and Tenant (or Landlord, as the payment of rent, case may be) shall pay such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten thirty (1030) days after demand thereforereceipt of such statement; provided, however, in no event shall Tenant be released of its obligation for such additional rent if Landlord fails to send Tenant a statement within the time specified above. In no event shall the event Base Rent or other sums due under this Lease ever be reduced due to the aggregate operation of Tenant’s installments during this Section 2.3 or to Operating Expenses being less for the year shall be more Property than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rentfor the Base Year. As used herein, the The term “Operating Expenses” shall include includes all expenses of Landlord with respect to the cost ownership, maintenance, servicing, repairing and operation of maintaining casualty and public liability insurance covering the PremisesProperty, real estate ad valorem taxes and all costs of managingincluding, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areascosts; electricity, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, gas and gasother utility charges; janitorial, sweeping window washing and cleaning janitorial services, ; trash bin rentals, trash pickup fees, licenses, permits and inspection feessnow and ice removal; parking lot painting landscaping and restripingpest control; planting, irrigating, gardening management fees payable to third parties; wages and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general benefits payable to employees of Landlord’s property management company whose duties are directly connected with the operation and maintenance costs and expensesof the Property; all labor services, supplies, repairs, replacement or other expenses for maintaining and supplies operating the Property including parking and Common Areas; me cost of any capital improvements made to the Property by Landlord, not to exceed $25,000.00 in any given Lease Year of the Term (notwithstanding, in any Lease Year in which such capital improvement costs exceed $25,000.00, Landlord may, in any succeeding Lease Year of the Term, charge to Tenant as an Operating Expense such excess amount, provided, however, that in no single Lease Year of the Term shall such capital improvement costs charged to Tenant exceed $25,00.00); the cost of installation of any device or other equipment which is installed to improve the operating efficiency of any system and reduce Operating Expenses, not to exceed $25,000.00 in any given Lease Year of the Term (notwithstanding, in any Lease Year in which such installation costs exceed $25,000.00, Landlord may, in any succeeding Lease Year of the Term, charge to Tenant as an Operating Expense such excess amount, provided, however, in no single Lease Year of the Term shall such installation costs charged to Tenant exceed $25,00.00); all real property taxes and installments of special assessments which accrue against the Property during the term of this Lease; governmental levies or charges of any kind or nature assessed or imposed on the Property, whether by state, county, city of any political subdivision thereof; all insurance premiums Landlord is required by to pay or deems necessary to pay, including hazard insurance and public liability insurance, with respect to the foregoingProperty; all amounts paid for liability and casualty loss pursuant to insurance deductible amounts; and administrative costs directly attributable theretoany amounts considered an operating, maintenance or management expense under generally accepted accounting principles.

Appears in 1 contract

Samples: Office Lease Agreement (Circle Bancorp)

Operating Expenses. During Notwithstanding anything to the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes contrary in the Lease, including Section 5(b)(i)(A), Section 8(a), Section 12(c) and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership Exhibit H of the Premises. If requestedOriginal Lease (but subject to the immediately succeeding sentence), Tenant agrees in the event Landlord performs capital repairs or improvements to pay Landlord the Project (including to the roof structure and/or roof membrane on the first day of each calendar monthBuilding), together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall will include the cost of maintaining casualty those capital expenditures incurred (a) in replacing obsolete equipment, (b) for the primary purpose of reducing Operating Expenses or (c) required by any governmental authority to comply with changes in federal, state, municipal and public liability insurance covering local laws, codes, ordinances, rules and regulations of governmental authorities, committees, associations, or other regulatory committees, agencies or governing bodies having jurisdiction over the Premises, real estate ad valorem taxes and all costs of managingthe Building, operating and maintaining the PremisesProject, Landlord or Tenant, including but both statutory and common law and hazardous waste rules and regulations (“Applicable Laws”) that take effect after the Lease Date or to ensure continued compliance with Applicable Laws in effect as of the Lease Date, in each case amortized over the useful life thereof, as reasonably determined by Landlord, in accordance with generally accepted accounting principles; provided, however, that during the Third Amendment Extension Term, the amortized amount of the foregoing capital expenditures included in Operating Expenses payable by Tenant will not limited to: costs exceed a total of constructing$0.10 per rentable square foot of the Premises per month. Notwithstanding anything to the contrary in the Lease, maintaining (y) any capital expenditures incurred by Landlord that the Lease otherwise identifies to be at Tenant’s sole cost and repairing on site expense (which for clarity, includes phrases like “at Tenant’s cost,” “at [Tenant’s] own cost,” “at Tenant’s expense” and off-site traffic controls; decoratingsimilar phrases) (such capital expenditures, painting, lighting, sanitary control, “Tenant Capital Expenditures”) shall remain to be Tenant’s sole cost and removal of trash, garbage expense as opposed to included in Operating Expenses as set forth above and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies (z) the immediately preceding sentence will not be applicable to Tenant Capital Expenditures. The Lease is hereby amended as required by the foregoing; and administrative costs directly attributable theretoto effectuate this Section 9.

Appears in 1 contract

Samples: Lease (Cutera Inc)

Operating Expenses. During The term "Operating Expenses", as used in this Lease, means all of Lessor's reasonable costs to operate and maintain the term Land and the Building from time to time, as determined in accordance with Lessor's accounting practices. Operating Expenses shall include (to the extent and only to the extent same are Lessor's obligation to pay or furnish under the other provisions of this Lease Tenant Lease), but not be limited to, all sums expended by Lessor, or in the case of major repairs or improvements having a life expectancy in excess of one year, an amortized portion of such sums, whether or not such repair or improvement is properly chargeable to capital expenses or capital improvements under generally accepted accounting principles, in connection with the Building, and the parking and common areas and other improvements on the Land, for general maintenance and repairs, maintenance and repair of the deionized water system and the diesel-powered emergency electrical generator, resurfacing, exterior painting, restriping, sweeping, portxx xxxvices, any personnel or services deemed necessary by Lessor, trash removal (if Lessor elects to furnish this service to Lessee), planting, landscaping, lighting, water and other utilities paid for by Lessor and directional signs and other markers, bumpers, and personnel to implement such services. Operating Expenses shall pay to Landlord as additional rent also include all ad valorem taxes or assessments and operating expenses and other charges Annual Assessments of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenanceThe Woodlands Community Association, repair, operation, managementInc., or ownership of The Woodlands Trade Center Association, whichever is applicable, which accrue against the Premises. If requested, Tenant agrees to pay Landlord on Building or the first day of each calendar monthLand during the Term, together with the payment of rentall insurance premiums, such amount as Landlord estimates from time if any, which Lessor is required to time as pay or deems necessary to pay such expensespay, with respect to the Building or the Land, and a building management fee ("Fee") equal to five percent (5%) of the Base Rent (except that this Fee shall not be prorated between Lessee and the other tenants in the Building as are the other Operating Expenses). Landlord shall xxxx Tenant annually after Notwithstanding anything contained herein to the contrary, if at the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used hereinfiscal year, the term “Operating Expenses” shall include Land, with the cost of maintaining casualty and public liability insurance covering Building thereon, has not yet been placed on the Premisestax rolls, real estate the fiscal year ad valorem taxes and all costs assessment shall be adapted and increased as if it had been. Further, notwithstanding any other provision herein to the contrary, it is agreed that in the event not more than ninety-five percent (95%) of managingthe rentable area in the Building is occupied during any fiscal year or in the event not more than ninety-five (95%) of the rentable area in the Building is provided with building standard services during any fiscal year, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.an adjustment shall

Appears in 1 contract

Samples: Lease Agreement (Lexicon Genetics Inc/Tx)

Operating Expenses. During Tenant will pay directly all Operating Expenses of the term of this Lease Tenant Premises in a timely manner and prior to delinquency, unless otherwise specified herein that Landlord shall pay to Landlord as additional rent all ad valorem taxes directly such Operating Expenses and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates receive reimbursement from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expensesTenant. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of that Tenant fails to pay any Operating Expenses due from Tenant, such deficiency shall be paid to Landlord Expense within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from written notice by Landlord to Tenant, such overpayment shall and without being under any obligation to do so and without hereby waiving any default by Tenant, Landlord may pay any delinquent Operating Expenses. Any Operating Expense paid by Landlord and any expenses reasonably incurred by Landlord in connection with the payment of the delinquent Operating Expense may be applied billed immediately to Tenant, or at Landlord’s next monthly installment of Operating Expenses option and Rentupon written notice to Tenant, may be deducted from the Security Deposit. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of managingthe Premises including, operating and maintaining the Premises, including but not limited to: costs of constructinginsurance, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of the foundation, roof, walls, heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility systems serving any common and safety systems, paving and parking areas, including water, sanitary sewer roads and storm water lines and other utility lines, pipes and conduitsdriveways; costs maintenance of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, exterior areas such as gardening and landscaping, snow removal and signage; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repairrepair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; other general painting; lighting; cleaning; refuse removal; security; utilities for, or the maintenance of, outside areas; building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Premises; and maintenance fees for required licenses and permits. Operating Expenses expressly exclude any costs and expenses; all labor expenses specific to the cultivation and supplies required processing of cannabis, and otherwise in connection with Tenant’s Permitted Use, such costs and expenses will be borne by the foregoing; Tenant and administrative costs directly attributable theretonot paid to Landlord as Operating Expenses.

Appears in 1 contract

Samples: Lease Agreement (Vireo Health International, Inc.)

Operating Expenses. During All costs and expenses incurred by Landlord during any Fiscal Year, as defined in Subsection 1.G. above, in managing, operating and maintaining the term Building and the Land, as determined by Landlord in accordance with generally accepted accounting principles established and regularly applied by Landlord. Such costs and expenses shall include, but not be limited to, the cost of this Lease Tenant shall pay to Landlord as additional rent all ad valorem water, gas, sanitary sewer, storm sewer, electricity and other utilities, trash removal, telephone services, insurance, janitorial and char services and supplies, security services, labor costs (including social security taxes and contributions and fringe benefits), charges under maintenance and service contracts (including but not limited to chillers, boilers, elevators, window and security services), central heating and air conditioning, management fees (not to exceed the rate for any comparable building in Arlington, Virginia which Landlord identifies to Tenant, if the management agent is not an affiliate of Landlord), business taxes, license fees, public space and vault rentals and charges, costs, charges and other assessments made by or for any entity operating expenses a business improvement district in which the Building is located, condominium fees, assessments, dues, expenses, and other charges which are paid by Landlord as a result of every kind the Building, the Land or part or all of both being part of a condominium, and nature (“Operating Expenses”) incurred the cost of any equipment or paid services provided by Landlord in connection with the maintenance, repairservicing, operation, managementmaintenance, or ownership repair and protection of the Premises. If requested, Tenant agrees to pay Landlord Building and the Land and related exterior appurtenances (whether or not provided on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expensesLease Commencement Date). Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty capital improvements made by Landlord to manage, operate or maintain the Building which (i) Landlord reasonably contemplates will reduce Operating Expenses or reduce the rate of increase in Operating Expenses from what it otherwise would have been with respect to the item which is the subject of the capital improvement or (ii) are necessary to comply with laws, regulations or utility company requirements, except for conditions existing in violation thereof on the Lease Commencement Date, together with any financing charges incurred in connection therewith, provided that such costs shall be amortized over the useful life of the improvements and public liability insurance covering only the Premisesportion attributable to the Fiscal Year shall be included in Operating Expenses for the Fiscal Year, real estate ad valorem taxes except that no portion thereof which is attributable to any capital improvement which is completed at any time prior to the expiration of the Base Year shall be included in Operating Expenses for any Fiscal Year (including, but not limited to, the Base Year). Operating Expenses shall not include: (i) Real Estate Tax Expenses, (ii) payments of principal and interest on any Mortgages or any financing costs (including points) and broker fees, (iii) leasing commissions, (iv) costs of preparing, improving or altering any space in preparation for occupancy of any new or renewal tenant, (v) ground rents and any and all other payments associated with a Ground Lease, (vi) any and all special services rendered by Landlord which are not made available to all office tenants at the Building, (vii) those expenses attributable to retail tenants only, (viii) original construction costs of the Building, (ix) interest and amortization of funds borrowed by Landlord, except as provided above with respect to capital improvements, (x) reserves for repairs, maintenance and replacements, except to the extent actually utilized for such purposes, (xi) salaries, wages, or other compensation paid to employees of any property management organization being paid a fee by Landlord for its services (or to any employees of Landlord who are not assigned to the operation, management, maintenance or repair of the Building, including accounting or clerical personnel and other overhead expenses of Landlord) or any executive above the level of property manager, except to the extent included in any management fee, (xii) amounts paid to any partners, shareholders, officers or directors of Landlord, for salary or other compensation, (xiii) costs of electricity outside normal business hours sold to tenants of the Building by Landlord or any other special service to tenants in excess of that furnished to Tenant whether or not Landlord receives reimbursement from such tenants as an additional charge, (xiv) expenses for repairs, replacements or improvements arising from the initial construction of the Building to the extent such expenses either (a) are reimbursed to Landlord by virtue of warranties from contractors or suppliers or (b) result by reason of deficiencies in design or workmanship, (xv) any amounts paid to any person, firm or corporation related to or otherwise affiliated with Landlord or any general partner, officer or director of Landlord or any of its general partners, to the extent the same exceeds arm's-length competitive prices paid in Washington, D.C. for the services or goods provided, (xvi) legal fees and other costs incurred in connection with (a) the negotiation of leases of space in the Building, (b) the enforcement of the rent payment provisions of leases in the Building or in connection with a tenant dispute concerning the rent payment provisions of leases; and (c) disputes with prospective tenants, employees, purchasers or mortgagees of the Building, (xvii) professional accounting fees in connection with the preparation of, or disputes concerning, Landlord's income tax returns, (xviii) costs relating to maintaining Landlord's existence, either as a corporation, partnership or other entity, such as trustee's fees, partnership organization or administration expenses, and deed recordation expenses, (xix) interest or penalties arising by reason of Landlord's failure to timely pay any Operating Expenses or Real Estate Tax Expenses, (xx) compensation paid to clerks, attendants, salespersons or other persons on or in commercial concessions operated in the Building, or costs which are the responsibilities of the garage operator, (xxi) capital improvements to the Building other than those permitted by this Section 1.0, or (xxii) costs incurred in making the Building Year 2000 compliant. In the event that, during any Fiscal Year or portion thereof during the Term, Landlord shall furnish any utility or service which is included in the definition of Operating Expenses to less than one hundred percent (100%) of the rentable area of the Building because (i) less than all of the rentable area of the Building is occupied, (ii) any such utility or service is not desired or required by any tenant, or (iii) any tenant is itself obtaining or providing any such utility or service, then the Operating Expenses for such Fiscal Year shall be increased to equal the total expenses that Landlord reasonably estimates it would have incurred if Landlord had provided all such utilities and services to one hundred percent (100%) of the rentable area of the Building for the entire Fiscal Year. For example, if the average occupancy rate of the Building during a Fiscal Year is eighty percent (80%), the electrical contractor's charges are $1.00 per occupied rentable square foot per year, and the Building contains one hundred thousand (100,000) rentable square feet of space, then it would be reasonable for Landlord to estimate that, if the Building had been one hundred percent (100%) occupied during the entire Fiscal Year, electrical charges for such Fiscal Year would have been One Hundred Thousand Dollars ($100,000) and to compute the Operating Expenses for such Fiscal Year accordingly. In no event shall the provisions of this paragraph be used to enable Landlord to collect from the tenants of the Building more than one hundred percent (100%) of the costs and expenses incurred by Landlord in managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining Building and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoLand.

Appears in 1 contract

Samples: Hagler Bailly Inc

Operating Expenses. During the term of this Lease Operating Expenses" shall not include and Tenant shall in no event have any obligation to perform or to pay directly, or to reimburse Landlord as additional rent for, all ad valorem taxes or any portion of the following repairs, maintenance, improvements, replacements, premiums, claims, losses, fees, charges, costs and operating expenses and (collectively, "Costs"): (a) Costs occasioned by the act, omission or violation of any Law by Landlord, or its Agents, employees or contractors; (b) Costs occasioned by fire, acts of God, or other charges casualties or by the exercise of every kind and nature the power of eminent domain; (“Operating Expenses”c) Costs incurred or paid by Landlord in connection with the maintenance, repair, operation, management, violation by Landlord of the terms and conditions of any lease or ownership other agreement; (d) insurance costs for coverage not customarily paid by tenants of similar projects in the vicinity of the Premises. If requested, Tenant agrees costs of earthquake insurance (unless Landlord is required to pay Landlord carry earthquake insurance by an institutional lender holding a first mortgage or deed of trust encumbering the Premises, in which case the commercially reasonable premium for such insurance shall be an Operating Expense, provided that such lender is generally requiring that all of its borrowers then carry earthquake insurance on the first day lender's collateral in the San Francisco Bay Area), flood or pollution insurance, insurance deductibles in excess of each calendar month$10,000, together and co-insurance payments; (e) Costs incurred in connection with the payment presence of rentany Hazardous Material, except to the extent caused by the release of the Hazardous Material in question by Tenant, or its agents, employees, invitees, contractors or subcontractors; (f) Costs in the nature of depreciation, amortization or other expense reserves; (g) Costs to repair, replace, restore or maintain the structural portions of the Building (including structural roofs) unless such amount as Costs are incurred due to the negligence or willful misconduct of Tenant; (h) compensation for any employee of Landlord estimates or any compensation retained by Landlord or its affiliates for management and administration of the Premises in excess of the reasonable management fee which would be charged by an unaffiliated professional management service for operation of comparable projects in the vicinity; and (i) Costs which could properly be capitalized under generally accepted accounting principals, except to the extent amortized over the useful life of the capital item in question. Tenant shall have the right to audit Operating Expenses and Taxes from time to time as necessary to pay time. If the results of such expenses. Landlord shall xxxx audit disclose that Tenant annually after has overpaid Operating Expenses or Taxes by more than five percent (5%) of the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the accurate amount of Operating Expenses due from and Taxes payable by Tenant, such deficiency then Landlord shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include pay the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretosuch audit.

Appears in 1 contract

Samples: Improvement Agreement (Cruel World Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. 9.1 As used herein, the term “Operating Expenses” shall include include: (a) Government impositions, including property tax costs consisting of real and personal property taxes (including amounts due under any improvement bond upon the cost 10421 Building, the 10431 Building or the Project (including the parcel or parcels of maintaining casualty real property upon which the 10421 Building, the 10431 Building, any other buildings in the Project and public liability insurance covering areas serving the 10421 Building and/or the 10431 Building and the Project are located)) or assessments in lieu thereof imposed by any federal, state, regional, local or municipal governmental authority, agency or subdivision (each, a “Governmental Authority”); taxes on or measured by gross rentals received from the rental of space in the Project; taxes based on the square footage of the Premises, real estate ad valorem the 10421 Building, the 10431 Building or the Project, as well as any parking charges, utilities surcharges or any other costs levied, assessed or imposed by, or at the direction of, or arising from Applicable Laws or interpretations thereof, promulgated by any Governmental Authority in connection with the use or occupancy of the Project or the parking facilities serving the Project; taxes on this transaction or any document to which Tenant is a party creating or transferring an interest in the Premises; any fee for a business license to operate an office building; and all any expenses, including the reasonable cost of attorneys or experts, reasonably incurred by Landlord in seeking reduction by the taxing authority of the applicable taxes, less tax refunds obtained as a result of an application for review thereof; provided, however, Operating Expenses will not include and Tenant shall not be required to pay any tax or assessment expense (i) in excess of the amount which would be payable if such tax or assessment expense were paid in installments over the longest permitted term; (ii) imposed on land and improvements other than the Project; (iii) attributable to Landlord’s gift or transfer taxes (however, in the event of a reassessment of the Property for any reason whatsoever, including a sale, refinancing, or any change in ownership, any increase in taxes arising from such reassessment will be included in Operating Expenses); or (iv) taxes that are the personal obligation of another tenant at the Project; and (b) All other costs of managingany kind paid or incurred by Landlord in connection with the operation or maintenance of the 10421 Building, operating the 10431 Building and maintaining the PremisesProject, including but not limited to: which shall include Project office rent at fair market rental for a commercially reasonable amount of space for Project management personnel, to the extent an office used for Project operations is maintained at the Project, plus customary expenses for such office, and costs of constructing, maintaining repairs and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduitsreplacements to improvements within the Project as appropriate to maintain the Project as required hereunder; costs of utilitiesutilities furnished to the Common Area; sewer fees; cable television; trash collection; cleaning, including waterwindows; heating, sewerventilation and air-conditioning (“HVAC”); maintenance of landscaping and grounds; snow removal; maintenance of drives and parking areas; maintenance of the roof; security services and devices; building supplies; maintenance or replacement of equipment utilized for operation and maintenance of the Project; license, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits permit and inspection fees; parking lot painting sales, use and restripingexcise taxes on goods and services purchased by Landlord in connection with the operation, maintenance or repair of Building or Project systems and equipment; plantingtelephone, irrigatingpostage, gardening stationery supplies and landscapingother expenses incurred in connection with the operation, maintenance or repair of the Project; signs accounting, legal and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.professional fees

Appears in 1 contract

Samples: Codex DNA, Inc.

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall mean, collectively, the Premises Operating Expenses, Building Operating Expenses and Project Operating Expenses. In addition, the Operating Expenses shall include a property management fee equal to three percent (3%) of the Base Rent then payable under this Lease. Notwithstanding anything to the contrary contained in this Lease, Operating Expenses shall not include, and Tenant shall have no obligation to pay for, the following: (i) the costs of repair, replacement, or restoration work occasioned by any casualty pursuant to Section 12 below or condemnation pursuant to Section 13 below; (ii) leasing commissions, advertising expenses, promotional expenses, attorneys’ fees, disbursements, and other costs and expenses incurred in procuring prospective tenants, negotiating and executing leases, and constructing improvements required to prepare for a new tenant’s occupancy; (iii) finance and debt service fees, principal and/or interest on debt or amortization payments on any mortgages executed by Landlord covering Landlord’s property, any other indebtedness of Landlord, and rental under any ground lease or leases for the Building or the Project; (iv) any depreciation allowance or expense, amortization (except as expressly provided for in this Section 6), expense reserve and other non-cash items; (v) except for management fees, Landlord’s general overhead; (vi) any costs or expenses representing any amount paid for services and materials to a (personal or business) related person, firm, or entity to the extent such amount exceeds the amount that would have been paid for such service or materials at the then existing market rates in the absence of such relationship; (vii) costs of electrical energy furnished and metered directly to tenants of the Building or for which Landlord is entitled to be reimbursed by tenants as additional rental over and above that tenant’s Base Rent or pass-through of Operating Expenses; (viii) the cost of maintaining casualty any work or service furnished to any tenant or occupant of the Building at such tenant’s cost; (ix) the costs and public liability expenses incurred in resolving disputes with other tenants, other occupants, or prospective tenants or occupants of the Building or the Project, collecting rents or otherwise enforcing leases of the tenants of the Building or the Project; (x) increases in insurance covering costs caused by the Premisesactivities of another tenant of the Building or the Project; (xi) the costs for items and services which any tenant reimburses Landlord or pays third persons, real estate ad valorem taxes to the extent of such reimbursement or payment; (xii) costs incurred in connection with the presence of any Hazardous Materials (as defined in Section 8.6.1 below), except to the extent caused by the release or emission of the Hazardous Materials in question by Tenant; (xiii) the costs and all expenses attributable to the construction of the Building or Project, including correcting defects in the construction of the Building or Project or in the Building or Common Area equipment; (xiv) the costs (excluding increased Real Property Taxes and other operating expenses related thereto) for any additions or improvements to the Building or the Project after the original construction; (xv) the costs of managingrepairs or maintenance which are reimbursed by warranties or service contracts in existence on the Commencement Date and to the extent such maintenance and repairs are or would have been made at no cost to Landlord; (xvi) the costs and expenses incurred in leasing equipment or systems that would ordinarily constitute a capital expenditure if such equipment or systems were purchased; (xvii) the costs of repairs, operating alterations, and maintaining general maintenance necessitated by the Premisessole active negligence or willful misconduct of Landlord or Landlord Parties, or repairs, alterations, and general maintenance necessitated by the negligence or willful misconduct of any other tenant (excluding Tenant) or occupant of the Building or Project or any of their respective agents, employees, contractors, invitees, or licensees; (xviii) interest or penalties due to the late payment of taxes, utility bills or other such costs not caused by Tenant’s failure to make payments due hereunder; (xix) any cost for overtime or other expenses to Landlord in curing defaults; and (xx) the costs, including but not limited to: costs of constructingfines, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlpenalties, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup legal fees, licensesincurred due to violations by Landlord, permits its employees, agents, or contractors or assigns, or any other tenant (excluding Tenant) or occupant of the Building or Project of building codes, any governmental rule or requirement or the terms and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection conditions of any lease pertaining to the Building or detection service; all general maintenance and repair; any other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretocontract.

Appears in 1 contract

Samples: Lease Agreement (Palm Inc)

Operating Expenses. During Operating Expenses shall consist of all costs of operation and maintenance of the term Building, the common areas and the Site as determined by standard accounting practices, calculated assuming the Building is ninety-five (95%) occupied (unless actually occupied in a greater percentage, in which case the actual occupancy percentage shall be used), including the following costs by way of this Lease Tenant shall pay to Landlord as additional rent all ad valorem illustration, but not limitation: real property taxes and operating expenses assessments and other charges any taxes or assessments hereafter imposed in lieu thereof; gross receipt taxes (whether assessed against Landlord or assessed against Tenant and collected by Landlord, or both); the net cost and expense of every kind and nature (“Operating Expenses”) incurred insurance for which Landlord is responsible hereunder or paid by which Landlord or any first mortgagee with a lien affecting the Premises reasonably deems necessary in connection with the operation of the Building (including the deductible portion of any insured loss); janitorial services; security; parking valet/attendant expenses; card key parking apparatus repair and maintenance; any and all Garage-related expenses, with all such valet/attendant, car key apparatus repair, operation, management, or ownership maintenance and other Garage-related expenses not to exceed such expenses incurred by prudent operators of substantially similar sized garages within the geographical location of the Premises. If requested; labor; utilities and utilities surcharges, Tenant agrees to pay Landlord on and any other costs levied, assessed or imposed by, or at the first day of each calendar monthdirection of, together or resulting from statutes or regulations or interpretations thereof, promulgated by any federal, state, regional, municipal or local government authority in connection with the payment use or occupancy of rentthe Building or the Premises or the parking facilities serving the Building or the Premises; the cost (amortized over the useful life of the improvement or equipment in question as reasonably determined by Landlord in accordance with generally accepted accounting principles at an interest rate of ten percent (10%)) of (a) any capital improvements made to the Building by the Landlord which are reasonably anticipated to increase the efficiency of the Building or made to the Building by Landlord that are required under any governmental law or regulation that was not applicable to the Building at the time it was constructed, such amount or (b) replacement of any building equipment needed to operate the Building at the same quality levels (or levels of efficiency) as prior to the replacement; costs incurred in the management of the Building, if any (including supplies, wages and salaries of employees used in the management, operation and maintenance of the Building, and payroll taxes and similar governmental charges with respect thereto); on site Building management office rental; a management fee (not to exceed 3% of the gross revenue receivable by Landlord estimates from time to time as necessary in connection with the Premises pursuant to pay such expenses. Landlord shall xxxx Tenant annually after this Lease); air conditioning; waste disposal; heating; ventilating; elevator maintenance; supplies; materials; equipment; tools; repair and maintenance of the end structural portions of each year for such expenses. In the event Building and the aggregate plumbing, heating, ventilating, air conditioning and electrical systems installed or furnished by Landlord; and maintenance, costs and upkeep of all parking and common areas, rental of personal property used in maintenance; costs and expenses of gardening and landscaping, maintenance of signs (other than Tenant’s installments during 's signs); personal property taxes levied on or attributable to personal property used in connection with the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premisesentire Building, including but not limited to: the common areas; reasonable audit or verification fees; and costs and expenses of constructingrepairs, maintaining and repairing on site and off-site traffic controls; decoratingresurfacing, repairing, maintenance, painting, lighting, sanitary controlcleaning, window washing, refuse removal, security and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areassimilar items, including waterappropriate reserves. Notwithstanding anything contained in this Paragraph 5.1 to the contrary, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs Operating Expenses shall not include any of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.following:

Appears in 1 contract

Samples: Organic Inc

Operating Expenses. During As used in this Lease, "Operating Expenses" shall mean all costs of operation, maintenance, repair and management of every portion of the term Project as determined by standard accounting practices. Operating Expenses shall include, without limitation, all sums expended in connection with all maintenance and repairs, resurfacing, painting, restriping, cleaning, sweeping and janitorial services; maintenance and repair of this Lease Tenant shall pay sidewalks, curbs, signs and other Common Areas (defined in Article 55); maintenance and repair of sprinkler systems, planting and landscaping; trash removal; sewage; electricity, gas, water and any other utilities (including any temporary or permanent utility surcharge or other exaction whether now or hereafter imposed); maintenance and repair of directional signs and other markers and bumpers; maintenance and repair of any fire protection systems, elevator systems, lighting systems, storm drainage systems, HVAC, and other utility systems; any governmental imposition or surcharge imposed upon Landlord or assessed against the Project; all costs and expenses pertaining to a security alarm system and security guard for the Project if Landlord as additional rent all ad valorem taxes deems necessary in Landlord's reasonable discretion; materials; supplies; tools; depreciation on maintenance and operating expenses machinery and other charges equipment (if owned) and rental paid for such machinery and equipment (if rented); service agreements on equipment; maintenance and repair of every kind parking areas and nature parking structures, if any; repair and routine and preventative maintenance of the roof (including repair of leaks and resurfacing); repair and maintenance of the exterior surfaces of all improvements (including painting); maintenance and repair of structural parts (including foundation, floor slabs and load bearing walls); replacement of Common Area carpets and window coverings, the cost of which shall be amortized over the useful life of such items as determined by standard accounting practices; window cleaning; elevator or escalator services; material handling; fees for licenses and permits relating to the Project; the cost of complying with rules, regulations and orders of governmental authorities; accounting and lega fees; Project office rent or rental value; the cost of contesting the validity or applicability of any governmental enactments which may affect Operating Expenses”) incurred Expenses or paid Project Taxes; personnel to implement such services; public liability, property damage and fire and extended coverage insurance on the Project (in such amounts and providing such coverage as determined in Landlord's reasonable discretion and which may include without limitation liability, all risk property, lessor's risk liability, war risk, vandalism, malicious mischief, sprinkler leakage, boiler and machinery, rental income, flood and worker's compensation insurance, and, if available at commercially reasonable rates or required by the lender of any loan affecting all or any portion of the Project, earthquake); compensation and fringe benefits payable to all persons employed by Landlord in connection with the operation, maintenance, repair, operationand management of the Project; and all annual assessments and special assessments levied against the Project and/or Landlord pertaining to the Project pursuant to any declaration of covenants, managementconditions and restrictions affecting the Project. Landlord may cause any or all of said services to be provided by an independent contractor or contractors, or ownership of the Premisesthey may be rendered by Landlord. If requestedsuch services are provided by Landlord, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering such services which are included in Operating Expenses shall be reasonable, based upon the Premisesprevailing market prices for such services, real estate ad valorem taxes and all costs if Landlord makes capital improvements which have the effect of managingreducing Operating Expenses, operating and maintaining Landlord may amortize its investment in said improvements as an Operating Expense in accordance with standard accounting practices provided that such amortization is not at a rate greater than the Premisesanticipated savings in Operating Expenses. It is the intent of the parties hereto that Operating Expenses shall include every cost paid or incurred by Landlord in connection with the operation, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement management of utility systems serving any common areas, including water, sanitary sewer the Project and storm water lines and other utility lines, pipes and conduits; costs the specificexamples of utilities, including water, sewer, electricityOperating Expenses stated in this Section 7b. are in no way intended to, and gas; janitorialshall not limit the costs comprising Operating Expenses, sweeping nor shall such examples be deemed to obligate Landlord to incur such costs or to provide such services or to take such actions except as Landlord may be expressly required in other portions of this Lease, or except as Landlord, in its reasonable discretion, may elect. The maintenance of the Project shall be at the reasonable discretion of Landlord and cleaning servicesall costs incurred by Landlord reasonably and in good faith shall be deemed conclusively binding on Tenant. If less than one hundred (100%) percent of the Project is occupied during any calendar year, trash bin rentalsall Operating Expenses on the statements provided by Landlord shall be adjusted for each calendar year to equal Landlord's reasonable estimate of Operating Expenses had one hundred percent (100%) of the Project been occupied. Operating Expenses shall be comprised of Retail Operating Expenses, trash pickup fees, licenses, permits Office Operating Expenses and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoShared Operating Expenses.

Appears in 1 contract

Samples: Centre Office Lease (QCS Net Corp)

Operating Expenses. During Throughout the term of this Lease Lease, Tenant shall pay to Landlord Landlord, as additional rent rent, Tenant's Proportionate Share of all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) Expenses incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership operation of the PremisesProperty. If requested, Tenant agrees to shall pay Landlord on the first day Tenant's Proportionate Share of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand thereforeas provided in Section 3.3 hereof. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenantshall include, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not be limited to: costs of constructingmanagement (not to exceed 5%); cleaning; trash removal; lighting; costs of repairing, maintaining and repairing replacing all Common Area improvements; repair and maintenance of the Building and all related improvements on site and off-site traffic controls; decoratingthe Property, including, without limitation, , gutters, down spouts, snow removal, parking lot striping, painting, lightinglandscaping; providing security; providing public liability, sanitary controlproperty damage, fire and removal of trash, garbage extended coverage and such other insurance as Landlord deems appropriate on the Building and Property; total compensation and benefits (including premiums for Workers' Compensation and other refuseinsurance) paid to or on behalf of employees; maintenance, repair personal property taxes; supplies; fire protection and replacement of fire hydrant charges; water and sewer charges; utility systems serving any common areas, including water, sanitary sewer charges; licenses and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection permit fees; parking lot painting reasonable depreciation of equipment used in operating and restripingmaintaining the Property and rent paid for leasing such equipment; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection reasonable reserves for any or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by of the foregoing. Any capital improvement costs included in Operating Expenses which Landlord is required to amortize pursuant to the Internal Revenue Service Code shall be amortized over the useful life of such item and Tenant shall pay Tenant's Proportionate Share of the amortized cost charged during the term of this Lease. Operating Expenses shall not include debt service, Building depreciation, leasing commissions paid by Landlord or the cost of creating new space for new tenants within the Property; and administrative costs directly attributable theretoor repairs or replacements to the extent proceeds of insurance or condemnation awards are available therefor.

Appears in 1 contract

Samples: Lease (Asset Acceptance Capital Corp)

Operating Expenses. During In addition to the term of this Lease Tenant Rent, Lessee shall pay currently Lessee's proportionate share of all increases in the Operating Expenses above the Base Amount. The Base Amount shall be determined by actual Operating Expenses for the period from May 1, 1996 to Landlord April 30, 1997 per the total square feet of the park. Lessee's Proportionate Share is that percentage set forth in the Basic Lease Information on page I as additional rent all ad valorem taxes and operating expenses and other charges Lessee's Proportionate Share of every kind and nature (“the Park and/or Lessee's Proportionate Share of the Building and/or Lessee's Proportional Share of the Lot. The term "Operating Expenses”) incurred " means the total amounts paid or paid payable by Landlord Lessor or others on behalf of Lessor in connection with the ownership, maintenance, repair, operation, management, or ownership and operation of the Premises, the Building, and the Park, and includes, but is not limited to, the amount paid for all hot and cold water; sewer service charges; the amount paid for lighting; the amount paid for heating and air conditioning; the amount paid for all labor and/or wages and other payments, including cost to Lessor of workers' compensation and disability insurance, payroll taxes, welfare, and fringe benefits made to janitors, employees, budding managers, contractors, and subcontractors of the Lessor to the extent involved in the operation, maintenance, repair, and restoration of the Building or the Park; the cost of maintenance and repair of the roof, landscaping, sidewalks, driveways, parking lots, fences and other exterior Common Areas; modifications to the Building occasioned by any rules, regulations, or laws effective subsequent to the Commencement Date; permits, licenses, and certificates necessary to operate and manage the Building; managerial fees and managerial, administrative, and telephone expenses related to the Building; the total charges of any independent contractors employed in the care and operation, maintenance, leasing, cleaning, repair, and restoration of the Building and the Park landscaping; the amount paid for all supplies, tools, equipment, and necessities which are occasioned by everyday wear and tear; the cost of window and exterior wall cleaning and painting; the cost of accounting services necessary to compute the Rent and charges payable by tenants; legal, inspection, and consulting services; the amount paid for premiums for all insurance required from time to time by Lessor or Lessor's mortgagees and real property taxes applicable to the Lot, improvement, fixtures and equipment included within the Lot The term "Taxes" includes any form of assessment, general, special, ordinary or extraordinary, commercial rental tax, improvement bond or bonds, license fee, license tax, rental tax, levy, penalty, or tax other than personal income tax, inheritance or estate taxes imposed by any authority having the direct or indirect power of tax, including any city, county, state, or federal government, or any school, agricultural, lighting, drainage, or other improvement district thereof, as against any legal or equitable interest of Lessor in the Premises or in the real property of which the Premises are a part, as against Lessor's right to Rent or other income therefrom, or as against Lessor's business of leasing the Premises or the occupancy of Lessee, or any other tax, fee, or excise, however described, including any value added tax, or any tax imposed in substitution, partially or totally, for any of the foregoing or otherwise. If requestedTaxes shall also include reasonable legal fees and costs incurred in connection with proceedings to contest, Tenant determine, or reduce taxes. Lessee acknowledges that Lessor shall have no obligation whatsoever to provide guard service or other security measures for the benefit of the Premises or Park. Should Lessor elect to provide security protection for the Park, the cost of guards and other protection services shall be included within the definition of Operating Expenses. Operating expenses shall not, however, include interest on debt, capital retirement of debt, depreciation, expenses properly chargeable to capital account except for capital expenditures primarily designed to reduce operating expenses or as required or reasonably requested by governmental authority (which capital expenditures shall be amortized over such reasonable period not exceeding five (5) years, as Lessor shall determine), and expenses directly chargeable by the Lessor to any tenant or Lessor's initial construction cost of the Project, real estate brokerage and leasing commissions, advertising and marketing expenses and Lessor's or Lessor's property manager's corporate general overhead or corporate general administrative expenses. The reference to "Building" in this paragraph shall include all corridors, lobbies, sidewalks, loading areas, and parking areas, if any, and driveways and other public areas in or around the Building. Notwithstanding the provisions of this paragraph 7, Lessee agrees that any cost or expense which arises from Lessee's particular use or occupancy of the Building shall be paid in full by Lessee upon demand from Lessor. Failure of Lessee to pay Landlord on any of the foregoing amounts and charges shall constitute a default under the terms hereof in like manner as failure to pay Rent when due. Lessor may estimate such increases as of the beginning of each calendar year and require Lessee to pay one-twelfth (1/12) of such estimated amount as Additional Rent hereunder as of the first day of each month. Not later than March 31st of the following calendar monthyear or as soon thereafter as reasonably possible, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during including the year following the year in which this Lease terminates, Lessor shall endeavor to furnish Lessee with a true and correct accounting of actual costs with respect to the items set forth above which accounting shall be less than binding on Lessee, and within thirty (30) days of Lessor's delivery of such accounting, Lessee shall pay to Lessor the amount of Operating Expenses due from Tenantany underpayment. Notwithstanding the foregoing, failure by Lessor to give such deficiency accounting by such date shall be paid not constitute a waiver by Lessor of its right to Landlord within ten (10) days after demand thereforecollect Lessee's share of any underpayment. In the event the aggregate of Tenant’s installments during the year Lessor shall be more than credit the amount of any overpayment of Lessee toward the next estimated monthly installment(s) falling due, or where the term of the Lease has expired, refund the amount of overpayment to Lessee. Lessor may upon notice to Lessee change from a calendar year period for estimating Operating Expenses due from Tenantto any other twelve (12) consecutive month period, and in the event of any such overpayment shall be applied to Tenant’s next monthly installment change Lessee's proportionate share of Operating Expenses shall be equitably adjusted. Tenant shall have the right to audit the books and Rentrecords of Landlord provided that such audit shall be (i) conducted by a regional or national firm of certified accountants; (ii) any such audit shall be conducted within six (6) months following the delivery of Landlord's statement for a particular year and (iii) any claim arising out of such Landlord's Statement or Tenant's audit shall be asserted within one (1) year after the delivery of Landlord's Statement or shall be waived. As used hereinThe above provisions requiring Lessee to pay its proportionate share of Operating Expenses are intended to pass to Lessee and to reimburse Lessor for all increases in the costs of operating, repairing and managing the Building, the term “Operating Expenses” shall include Premises and the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoPark except as otherwise set forth herein.

Appears in 1 contract

Samples: Letter and Construction Agreement (Business Objects Sa)

Operating Expenses. During From and after the term of this Lease Commencement Date, during the Term, the Tenant shall pay to Landlord the Landlord, as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with Additional Rent, the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of 's Operating Expenses due from Tenant, such deficiency shall be paid Allocable to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes in accordance with this Section 3.3 including, without limitation, the conditions and all costs limitations set forth in clauses (a) through (k) below, with respect to each 12-month period beginning February 1 each year or such other fiscal period of managing, operating and maintaining twelve (12) consecutive months hereinafter adopted by the Landlord for lease administration purposes ("Operating Fiscal Year"). "The Tenant's Operating Expenses Allocable to the Premises" means that portion of the Operating Expenses for the Property which bears the same proportion thereto as the Rentable Floor Area of the Premises bears to the Total Rentable Floor Area of the Building. The term "Operating Expenses for the Property" means the Landlord's actual cost of operating, including but not limited to: costs of constructingcleaning, maintaining and repairing on site the Property, the roads, driveways and off-site traffic controls; decorating, painting, lighting, sanitary controlwalkways for providing access to the Building, and removal shall include without limitation, the cost of trashfulfilling the maintenance and repair obligations required to be performed by Landlord under Section 5.1 and, garbage subject to the exclusions set forth below, the cost of services specified on EXHIBIT D; premiums for insurance carried pursuant to Section 7.4; the amount of any deductible associated with an insurance claim of the Landlord; compensation including, without limitation, fringe benefits, worker's compensation insurance premiums and other refusepayroll taxes paid to, for or with respect to all persons (University Park/Building general manager and below) engaged in the operating, maintaining or cleaning of the Property; interior landscaping and maintenance; steam, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, gas, oil electricity, telephone and gasother utility charges (excluding any such utility charges either separately metered or separately chargeable to the Tenant for either measured or additional or special services); janitorial, sweeping cost of providing HVAC services other than such services described in Section 3.4; cost of building and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection feessupplies; parking lot painting and restripingthe costs of routine environmental management programs operated by Landlord; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection market rental costs (or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.alternatively

Appears in 1 contract

Samples: Non Disturbance Agreement (Alkermes Inc)

Operating Expenses. During All costs and expenses incurred by Landlord during the term applicable calendar year in managing, operating and maintaining the Building, the Parking Area and the Land, as reasonably determined by Landlord. Such costs and expenses shall include, without limitation, as applicable (and without any obligation on Landlord to provide any of this Lease Tenant shall pay to Landlord as additional rent all ad valorem the following delineated items), the cost of water, gas, sanitary sewer, storm sewer, electricity and other utilities, trash removal, telephone services, insurance, janitorial services and supplies, security services, the cost of electricity for the Parking Area, labor costs (including social security taxes and operating expenses contributions and fringe benefits), charges under maintenance and service contracts (including chillers, boilers, elevators, window and security services), heating and air conditioning, management fees (not to exceed the lesser of two percent (2%) of total gross Building revenues for any calendar year), business taxes, license fees, public space and vault rentals and charges, costs, charges and other charges assessments made by or for any entity operating a business improvement district in which the Building is located, assessments, dues, expenses, and the cost of every kind and nature (“Operating Expenses”) incurred any equipment or paid services provided by Landlord in connection with the maintenance, repairservicing, operation, managementmaintenance, or ownership repair and protection of the PremisesBuilding and the Land and related exterior appurtenances. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty capital improvements made by Landlord to manage, operate or maintain the Building, provided that such costs shall be amortized over the useful life of the improvements in accordance with generally accepted accounting principles, and public liability only the portion attributable to the applicable calendar year shall be included in Operating Expenses for such calendar year; such capital improvements shall include, without limitation, and subject to: (a) improvements or building elements added to the Building which will increase the efficiency of the Building (i.e., are reasonably anticipated by Landlord to reduce Operating Expenses as they relate to the item which is the subject of the capital expenditure or to reduce the rate of increase in the Operating Expense which relates to the item which is the subject of the capital expenditure from what it otherwise may have been reasonably anticipated to be in the absence of such capital expenditure), (b) improvements, which if relate to an item that is a capital expenditure that is being replaced, such item shall be at the end of its useful life in accordance with generally accepted accounting principles and the required repairs to such capital expenditure would exceed the cost of replacement, and (c) improvements which are required to comply with the requirements of any Applicable Laws (as hereinafter defined in Article 5), or insurance covering or utility company requirements; provided however, unless otherwise approved by Tenant in writing or if required to comply with the requirements of any Applicable Laws, or insurance or utility company requirements, no capital improvements shall be replaced during the first twelve (12) months of the Term. Operating Expenses shall not include the expenses set forth on Exhibit C attached hereto and made a part hereof. Tenant shall obtain in its own name and pay directly to the appropriate supplier the cost of all utilities serving the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

Appears in 1 contract

Samples: Lease Agreement (Gsi Technology Inc)

Operating Expenses. During Lessee agrees to pay as Additional Rent its proportionate share of the amount paid by Lessor during the Term for operation and maintenance of the Building (collectively "Operating Expenses"). Operating Expenses shall include, but not be limited to, the following: (i) all expenses for operation, repair, replacement and maintenance as necessary to keep the Building and common area of the Project and the grounds, and parking areas associated therewith in good order, condition and repair, including but not limited to, utilities for the common areas of and relating to the Project expenses associated with the driveways and parking areas (including repair of the asphalt surface and snow, trash and ice removal), lighting facilities, landscaped areas, walkways, directional sign age, curbs, drainage strips, sewer lines, all charges assessed against the Project pursuant to any applicable easements, covenants or development standards, administrative fees (including property management fees) and (ii) all insurance premiums paid by Lessor with respect to the Project, including public liability insurance. The cost for all capital improvements that would be capitalized or depreciated under generally accepted accounting principles shall not be included in calculating Operating Expenses; provided, however, notwithstanding the foregoing, that Operating Expenses shall include amortization of all costs of capital improvements which are for the purpose of reducing Operating Expenses and which ultimately result in a reduction in Lessee's proportionate share of Operating Expenses. Operating Expenses shall not include expenses for the costs of any maintenance and repair required to be performed by Lessor at its own expense under Paragraph 6.01 of this Lease. The proportionate share of Operating Expenses to be paid by Lessee shall be a percentage of the Operating Expenses based upon the proportion that the square footage of the Premises bears to the total square footage of the Project (such figure referred to as "Lessee's Operating Expense Percentage). Lessor shall estimate the total amount of Operating Expenses to be paid by Lessee during each calendar year and promptly after the beginning of each calendar year or partial calendar year during the term of this Lease Tenant and Lessee shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges Lessor one-twelfth (1/12) of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord such sum on the first day of each calendar monthmonth during each such calendar year, together with the payment of rentor part thereof, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year Tenn. Lessor shall be less than submit to Lessee a statement of the actual amount of Operating Expenses due from Tenantfor such calendar year, such deficiency shall be paid to Landlord and within ten thirty (1030) days after demand therefore. In receipt of such statement; Lessee shall pay any deficiency between the actual amount owed and the estimates paid during such calendar year, or in the event the aggregate of Tenant’s installments during the year shall be more than overpayment, Lessor shall, at Lessor's option, credit the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s toward the next monthly installment of Operating Expenses, or refund the amount of such overpayment to Lessee. If the Rental Commencement Date of the Base Tenn shall fall on other than the first day of the calendar year, or if the Expiration Date shall fall on other than the last day of the calendar year, Lessee's share of the Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretofor such calendar year hall be apportioned pro rata.

Appears in 1 contract

Samples: Lease Agreement (Gerber Childrenswear Inc)

Operating Expenses. During Throughout the term Term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with Lease, commencing on the maintenance, repair, operation, management, or ownership of the Premises. If requestedCommencement Date, Tenant agrees to pay Landlord on the first day of each calendar month, together as additional rent in accordance with the payment terms of rentthis Section 4, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount 's Share of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and RentExpenses. As used hereinin this Lease, the term "Operating Expenses" shall include the cost consist of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managingand expenses for the ownership, operating and maintaining the Premisesoperation, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving the Project as determined by Landlord utilizing standard accounting practices and calculated assuming the Project is one hundred percent (100%) occupied. Operating Expenses shall include the following costs by way of illustration but not limitation: (i) Real Property Taxes; (ii) any common areasand all assessments under any covenants, including conditions and restrictions affecting the Project; (iii) water, sanitary sewer and storm water lines and other utility lines, pipes and conduitscharges; (iv) costs of utilitiesinsurance obtained by Landlord pursuant to Section 21 of this Lease; (v) waste disposal and janitorial services; (vi) security; (vii) labor; (viii) management costs including, without limitation: (A) wages, salaries, pension payments, fringe benefits, uniforms and dry-cleaning thereof (and payroll taxes, insurance and similar charges ) of property management employees, and (B) management office rental, supplies, equipment and related operating expenses and commercially reasonable management/administrative fees; (ix) supplies, materials, equipment and tools including rental of personal property; (x) repair and maintenance of all portions of the buildings within the Project, including waterthe plumbing, sewerheating, electricityventilating, air-conditioning and electrical systems installed or furnished by Landlord; (xi) maintenance, sweeping, repairs, resurfacing, and gasupkeep of all parking and other Common Areas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees(xii) amortization on a straight line basis over the useful life (together with interest at the Interest Rate on the unamortized balance) of all capitalized expenditures which are: (A) reasonably intended to produce a reduction in operating charges or energy consumption; parking lot painting and restripingor (B) required under any governmental law or regulation that was not applicable to the Project at the time it was originally constructed; planting, irrigating, or (C) for replacement or restoration of any Project equipment and/or improvements needed to operate and/or maintain the Project at the same quality levels as prior to the replacement or restoration; (xiii) gardening and landscaping; (xiv) maintenance of signs (other than signs of tenants of the Project); (xv) personal property taxes levied on or attributable to personal property used in connection with the Common Areas; (xvi) reasonable accounting, audit, verification, legal and markersother consulting fees; parking control and security guards and fire protection or detection service; all general maintenance and repair; (xvii) any other general operation and maintenance costs and expenses; all labor expenses of repairs, maintenance, painting, lighting, cleaning, and supplies required by the foregoing; and administrative costs directly attributable theretosimilar items, including appropriate reserves.

Appears in 1 contract

Samples: Industrial Lease (E Digital Corp)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the The term “Operating Expenses” as used herein shall include all actual direct costs of operation, maintenance and management of the Building, including common areas serving the Building, as determined by generally accepted accounting practices. By way of illustration but not limitation, Operating Expenses shall include the cost of or charges for the following items: heat; air conditioning; light; water and sewer charges; power; waste disposal; janitorial services; window cleaning; materials and supplies; equipment and tools; security; maintaining casualty elevators; service agreements on equipment and public liability their maintenance and repairs; insurance covering premiums for the Premisesinsurance carried by Landlord, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controlsin amounts reasonably determined by Landlord; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting wages and restripingsalaries; plantingemployee benefits and payroll taxes; accounting, irrigating, gardening auditing and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and legal expenses; all labor management fees not to exceed three percent (3%) of the annual gross rental income for the Building in any year ; maintenance of the Building and supplies grounds; depreciation on personal property; the cost of contesting the validity or applicability of any governmental enactments which could reasonably be expected to affect operating expenses; cost of compliance with laws and governmental regulations enacted subsequent to the date of this Lease; the cost of any capital improvements made to or capital assets acquired for the Building by Landlord that reduce any other operating expenses, are reasonably necessary for the health and safety of the occupants of the Building, or are made to the Building by Landlord after the Commencement Date that are required under any governmental law or regulation enacted subsequent to the date of this Lease, such costs to be amortized over their useful life as reasonably determined by Landlord, together with interest on the unamortized balance at the reference rate charged by the foregoingBank of America, San Francisco main office, at the time such costs are incurred plus 2% per annum. For the purposes of this Lease, Operating Expenses shall not include taxes covered under subparagraph 5.3 below, interest expenses, costs attributable to seeking and obtaining new tenants as well as retaining existing tenants, such as advertising costs, leasing commissions, architectural, engineering, attorneys’ fees, renovations and improvements, depreciation on the Building itself, the cost of capital expenditures except as provided above, costs attributable to enforcing leases against tenants, depreciation and amortization of debt, costs incurred due to violations by the Landlord of terms of leases in the Building, interest on mortgages and rent under any ground lease, repairs and other work to the extent that Landlord is reimbursed by insurance, fines or penalties due to violations by Landlord of government rules, costs for paintings and other objects of art, wages, salaries or other consideration paid to executive employees of Landlord above the grade of Building Manager, or costs attributable to repairing items to the extent covered by warranties; and administrative costs directly attributable theretoincurred in connection with the presence of any Hazardous Material, except to the extent caused by the release or emission of the Hazardous Material in question by Tenant or its employees, agents, contractors or invitees; or expense reserves.

Appears in 1 contract

Samples: Trulia, Inc.

Operating Expenses. During Throughout the term Term of this Lease Lease, commencing on the Commencement Date, Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection accordance with the maintenanceterms of this Section 5, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount 's Share of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In for the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and insurance for the Building and the Project and for all costs of managing, operating and maintaining expenses for the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuseoperation; maintenance, repair and replacement of utility systems serving the Building and the Project including, without limitation: (i) any common areasform of real property tax, assessment, license fee, license tax, business license fee, permit fee, inspection fee, commercial rental tax, levy, charge, improvement bond or similar imposition of any kind or nature imposed by any authority having the direct power to tax, including any city, county, state or federal government, or any school, agricultural, lighting, drainage or other improvement or special assessment district thereof; (ii) any and all assessments under any covenants, conditions and restrictions affecting the Project, including without limitation assessments levied by the Community Association as provided in the Community Declaration, by the Pacific Park Association as provided in the Pacific Park Declaration, and by the Town Center Corporate Park Owners Association as provided in the Town Center Declaration; (iii) water, sanitary sewer and storm water lines and other utility linescharges, pipes and conduitsto the extent not separately metered, including without limitation any costs or expenses incurred in connection with a change in the Electric Service Provider or Alternate Service Provider pursuant to Section 7 of this Lease; (iv) costs of utilitiesinsurance obtained by Landlord pursuant to Section 13 of this Lease; (v) waste disposal; (vi) janitorial services for the common area within the Building; (vii) security; (viii) labor; (ix) management costs including, without limitation: (A) wages, salaries, fringe benefits (and payroll taxes and similar charges) of property management employees, and (B) management office rental, supplies, equipment and related operating expenses and commercially reasonable management and administrative fees; (x) supplies, materials, equipment and tools including rental of personal property; (xi) repair and maintenance of the structural portions of the buildings within the Project, including waterthe plumbing, sewerheating, electricityventilating, air-conditioning and electrical systems installed or furnished by Landlord (if such repair and maintenance are Landlord's responsibility under Section 9.2 below); (xii) maintenance, sweeping, lighting, repairs, resurfacing, and gasupkeep of all parking and other common areas; janitorial, sweeping (xii) amortization on a straight line basis over the useful life (together with interest at the Interest Rate on the unamortized balance) of all capitalized expenditures which are: (A) reasonably intended to produce a reduction in operating charges or energy consumption; or (B) required under any governmental law or regulation that was not applicable to the Project at the time it was originally constructed; or (C) for replacement or restoration of any Project equipment and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection feesimprovements needed to operate or maintain the Project at the same quality levels as prior to the replacement or restoration; parking lot painting and restriping; planting, irrigating, (xiv) gardening and landscaping; (xv) maintenance of signs (other than signs of tenants of the Project); (xvi) personal property taxes levied on or attributable to personal property used in connection with the common areas; (xvii) reasonable accounting, audit, verification, environmental, insurance, tax, legal and markersother consulting fees; parking control (xviii) any other costs and security guards expenses of repairs, maintenance, painting, lighting, cleaning, and fire protection or detection servicesimilar items, including appropriate reserves; all general maintenance and repair; other general operation (xix) costs associated with the procurement and maintenance of air conditioning, heating and ventilation service agreements; (xx) procurement and maintenance of an intrabuilding cable network tenant information system for common use of all tenants within the Project, and any other installation, maintenance, repair and replacement costs associated with such lines; and (xxi) any expense incurred pursuant to Sections 5.2, 7, 8.2, 9.2 and 13 (collectively, the "OPERATING EXPENSES"). The foregoing list constitutes a nonexclusive list of costs and expenses; all labor expenses Landlord may incur for the operation, maintenance, repair and supplies required replacement of the Building and the Project. The fact that an item is included in this list does not imply that any particular item or service will be provided by the foregoing; and administrative costs directly attributable theretoLandlord or that Landlord is obligated to incur any particular expense or provide any particular service.

Appears in 1 contract

Samples: Work Letter Agreement (Eyeonics Inc)

Operating Expenses. During Landlord's Operating Expenses" means the term customary and reasonable costs of operation of the Building and the Site which shall exclude costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation, the following: premiums for insurance carried with respect to the Building and the Site (including, without limitation, liability insurance, insurance against loss in case of fire or casualty and insurance of monthly installments of fixed rent and any Additional Rent which may be due under this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other leases of space in the Building for not more than 12 months in the case of both fixed rent and Additional Rent and if there be any first mortgage of the Property, including such insurance as may be required by the holder of such first mortgage); compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid to, for or with respect to all persons to the extent engaged in the operating, maintaining or cleaning of the Building or Site, water, sewer, electric, gas, oil and telephone charges (excluding utility charges separately chargeable to tenants for additional or special services); cost of every kind building and nature cleaning supplies and equipment; cost of maintenance, cleaning and repairs (“Operating Expenses”) incurred other than repairs not properly chargeable against income or reimbursed from contractors under guarantees); cost of snow removal and care of landscaping; payments under service contracts with independent contractors; management fees at reasonable rates consistent with the type of occupancy and the service rendered and comparable to management fees for similar buildings in the Waltham, Massachusetts area; and all other reasonable and necessary expenses paid by Landlord in connection with the maintenance, repair, operation, management, or ownership cleaning and maintenance of the Premises. If requestedBuilding and the Site and properly chargeable against income, Tenant agrees provided, however, there shall be included (a) depreciation for capital expenditures made by Landlord (i) to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. reduce Landlord's Operating Expenses if Landlord shall xxxx Tenant annually after have reasonably determined that the end annual reduction in Landlord's Operating Expenses shall exceed depreciation therefor or (ii) except as set forth in Section 4.1.5 below, to comply with applicable laws, rules, regulations, requirements, statutes, ordinances, by-laws and court decisions of each year all public authorities which are now in force or hereafter become applicable to the Building or the Site; plus (b) in the case of both (i) and (ii) an interest factor, reasonably determined by Landlord, as being the interest rate then charged for such expenses. In long term mortgages by institutional lenders on like properties within the event locality in which the aggregate Building is located; depreciation in the case of Tenant’s installments during the year both (i) and (ii) shall be less than determined by dividing the amount original cost of such capital expenditure by the number of years of useful life of the capital item acquired and the useful life shall be reasonably determined by Landlord in accordance with generally accepted accounting principles and practices in effect at the time of acquisition of the capital item. Notwithstanding anything to the contrary set forth in this Lease, Landlord's Operating Expenses due from Tenant, such deficiency shall be paid not include: leasing commissions; rent concessions to Landlord within ten (10) days after demand therefore. In other occupants of the event Building or the aggregate Site; tenant improvement costs for other occupants of Tenant’s installments during the year shall be more than Building or the amount of Operating Expenses due from Tenant, such overpayment shall be applied Site; or capital expenditures except to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoextent expressly provided above.

Appears in 1 contract

Samples: Oasis Semiconductor Inc

Operating Expenses. During a. Commencing on January 1, 2019 and continuing throughout the term Term, the County shall pay, in monthly installments, the County’s Proportionate Share of Operating Expenses for the calendar year in question in excess of Operating Expenses incurred during the 2018 calendar year base year (the “Base Year”). If any portion of the Buildings is not fully occupied during the Base Year Landlord shall gross up Operating Expenses which vary with occupancy for such period so that Operating Expenses are computed as though the Buildings had been fully occupied. If any expense (including without limitation any tax or insurance premium) included within the Operating Expenses incurred during the Base Year is thereafter reduced or eliminated (an “Expense Reduction”), then for the purpose of calculating the County’s Proportionate Share of Operating Expenses, the applicable Base Year amount shall be reduced to reflect the Expense Reduction. By April 30th of each year (and as soon as practical after the expiration or termination of this Lease Tenant or, at Landlord’s option, after a sale of the Property), Landlord shall provide the County with a statement of Operating Expenses for the preceding calendar year or part thereof. Within 30 business days after delivery of the statement with properly documented statements to the County and after any questioned expenses have been satisfactorily explained or disputed as set forth below, County shall pay to the Landlord as additional rent all ad valorem taxes and operating expenses and other charges the County’s Proportionate Share of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with Expenses for the maintenance, repair, operation, management, or ownership of the Leased Premises. If requested, Tenant agrees to pay the County does not give Landlord on notice within 30 business days after receiving Landlord’s statement that the first day of each calendar month, together County disagrees with the payment of rentstatement and specifying the items and amounts in dispute, the County shall be deemed to have waived the right to contest the statement and the amounts set forth in such amount as statement shall thereafter be deemed conclusive against the County. The Landlord estimates from time to time as necessary to pay such expenses. Landlord specifically agrees that Controllable Operating Expenses shall xxxx Tenant annually after the end of each not increase by more than five percent (5%) per year for such expenses. In the event in the aggregate over the Initial Term of Tenantthe Lease on a non-cumulative and non-compounding basis. Controllable Operating Expenses shall mean Operating Expenses other than taxes, insurance, utilities, snow and ice removal and security. Xxxxxxxx’s installments during and the year shall be less than County’s obligation to reconcile the amount of Operating Expenses due from Tenant, such deficiency the other pursuant to this Section shall be paid to Landlord within ten (10) days after demand therefore. In survive the event the aggregate expiration or termination of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretothis Lease.

Appears in 1 contract

Samples: Lease Agreement

Operating Expenses. During Tenant shall pay to Landlord, pursuant to the term terms of this Lease Section 4.03, Xxxxxx’s Share of Building Operating Expenses and Tenant’s Share of Warehouse Operating Expenses incurred by Landlord (including, without limitation, all expenses incurred by Landlord pursuant to Section 7.03). “Building Operating Expenses” shall include all reasonable and necessary expenses incurred by Landlord for the administration, management, cleaning, maintenance and repair of the Building. “Warehouse Operating Expenses” shall include all reasonable and necessary expenses incurred by Landlord for the administration, management, cleaning, maintenance and repair of the Warehouse. Expenses constituting Building Operating Expenses and Warehouse Operating Expenses shall include, without limitation: the cost of utilities relating to the Property that are not separately metered to the Premises; costs for the maintenance and repair of the Common Areas of the Property including, without limitation, parking areas, landscaping, sprinkler systems, walkways, and fire alarm systems; costs for maintenance and repair of the heating, ventilation and air conditioning equipment and systems serving the Building and the elevators located in the Building; reserves set aside for maintenance and repair of the Common Area; and costs for capital improvements and repairs made to the Building, the Warehouse, the Common Areas and/or the Property, during Tenant’s tenancy in the Premises, amortized using a commercially reasonable interest rate over the time period reasonably estimated by Landlord to recover the costs thereof, as determined by Landlord using its good faith, commercially reasonable judgment. Building Operating Expenses and Warehouse Operating Expenses shall not include (a) the costs for capital improvements and repairs made to the Building or the Warehouse which are triggered by the specific and unique use of the Premises by Tenant, which shall be paid in full by Tenant at the time incurred, (b) Insurance Expenses, (c) Tax Expenses, (d) the costs to maintain and repair the foundations, exterior walls, structural condition of interior load-bearing walls, and the exterior roof structure (but excluding the roof membrane), (e) the costs to maintain and repair any utility systems or heating, ventilation and air conditioning equipment and systems that exclusively serve the premises of any tenant other than Tenant, and (f) costs for capital improvements other than as set forth in the preceding sentence. The parties acknowledge that the Building and Warehouse are part of a multi-tenant, multi-building project and that some costs and expenses incurred in connection with the Property and not attributable solely to any particular building should be shared among the tenants of the Property. Accordingly, certain costs and expenses (e.g. certain costs attributable to the Common Areas) are determined annually for the Property as a whole, and a portion of such costs and expenses, which portion shall be determined by Landlord on an equitable basis, shall be allocated (i) to the Building (as opposed to the other buildings) and such portion shall be included in Building Operating Expenses and (ii) to the Warehouse (as opposed to the other buildings) and such portion shall be included in Warehouse Operating Expenses. Landlord shall have the right, from time to time, to equitably allocate some or all operating expenses for the Property among different portions or occupants of the Property, in Landlord’s reasonable discretion. In addition to Xxxxxx’s Share of Building Operating Expenses and Tenant’s Share of Warehouse Operating Expenses, in consideration of Landlord’s administration of the Premises and the Property, Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature Additional Rent a monthly administrative charge equal to three percent (“Operating Expenses”3%) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Base Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

Appears in 1 contract

Samples: Energy Recovery, Inc.

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Operating Expenses. During Lessee agrees to pay as Additional Rent b ------------------ proportionate share of the term amount paid by Lessor during the Term for operation and maintenance of the Project (collectively "Operating Expenses"). Operating Expenses shall include the following: (i) all expenses for operation, repair, replacement and maintenance as necessary to keep the Building and common area of the Project and the grounds, and parking areas associated therewith in good order, condition and repair, including but not limited to, utilities for the common areas of and relating to the Project expenses associated with the driveways and parking areas (including repaving and snow, trash and ice removal), lighting facilities, landscaped areas, walkways, directional signage, curbs, drainage strips, sewer lines, all charges assessed against the Project pursuant to any applicable easements, covenants or development standards. administrative fees (including property management fees) and (ii) all reasonable and customary insurance premiums paid by Lessor with respect to the Project, including public liability insurance. The cost for all capital improvements that would be capitalized or depreciated under generally accepted accounting principles shall not be included in calculating operating Expenses; provided, however, notwithstanding the foregoing, that Operating Expenses shall include amortization of all costs of capital improvements which are for the purpose of reducing Operating Expenses and which ultimately result in a reduction in Lessee's proportionate share of Operating Expenses, but only to the extent of such reduction. Operating Expenses shall not include expenses for the costs of any maintenance and repair required to be performed by Lessor at its own expense under Section 15.1 of this Lease Tenant Lease, operating Expenses shall not include (i) leasing commissions, (ii) Lessor's home office expenses, (iii) cost billed to specific tenants or other third parties, (iv) costs associated with financing the Building or Project, (v) depreciation, or (vi) costs paid by the proceed of insurance received by Lessor, The proportionate share of Operating Expenses to be paid by Lessee shall be a percentage of the Operating Expenses based upon the proportion that the square footage of the Premises bears to the total square footage of the Project (such figure referred to as "Lessee's Operating Expense Percentage"). Lessor shall estimate the total amount of Operating Expenses to be paid by Lessee during each calendar year promptly after the beginning of each calendar year during the Term, and Lessee shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges Lessor one-twelfth (1/12) of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord such sum on the first day of each calendar monthmonth during each such calendar year, together with or Part thereof, during the payment of rent, such amount as Landlord estimates from Term. Within a reasonable time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In calendar year, Lessor shall submit to Lessee a statement of the event the aggregate of Tenant’s installments during the year shall be less than the actual amount of Operating Expenses due from Tenantfor such calendar year, such deficiency shall be paid to Landlord arid within ten thirty (1030) days after demand therefore. In receipt of such statement, Lessee shall pay any deficiency between the actual amount owed and the estimates paid during such calendar year, or in the event of overpayment, Lessor shall, at Lessors option, credit the aggregate amount of Tenant’s installments during such Overpayment toward the next installment of Operating Expenses, or refund the amount of such overpayment to Lessee. If the Rental Commencement Date shalt fall on other than the first day of the calendar year, or if the Expiration Date shall fall on other than the last day of the calendar year, Lessee's share of the Operating Expenses for such calendar year shall be more than apportioned prorata. The estimated operating expenses per square foot for the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, Premises for the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretocurrent year are $0.55 per square foot.

Appears in 1 contract

Samples: Lease Agreement Earle (Airgate PCS Inc /De/)

Operating Expenses. During (a) Commencing on January 1, 2007 (the term “Expense Rent Commencement Date”), Tenant shall pay, as Additional Rent, Tenant’s Share referred to in Section 1(h) of the Lease of the “expenses” (as hereinafter defined) of the Property for any calendar year which occurs wholly or partially during the Term of this Lease Tenant shall pay in excess of the expenses of the Property for the calendar year referred to Landlord as additional rent all ad valorem taxes and operating expenses and other charges in Section 1(i) of every kind and nature this Lease (the Operating ExpensesBase Expense Year”) (such Additional Rent is hereinafter called the “Expense Rent”). The term “expenses” shall mean any and all costs incurred or paid by Landlord in connection with the maintenance, repairownership, operation, managementmaintenance, or ownership care and repair of the Premises. If requestedProperty, Tenant agrees to pay Landlord on the first day of each calendar monthincluding, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs snow removal; repairing, resurfacing or repaving the parking areas, roads or driveways on the Property ; maintaining, repairing and markersreplacing the roof of the Building; parking control maintaining, repairing and security guards replacing the heating, ventilating and air conditioning system and other mechanical systems serving the Building; premiums for fire protection or detection serviceand other casualty insurance, rent insurance, liability insurance, workers compensation insurance and other insurance with respect to the Property ; wages, medical insurance, pension payments and other fringe benefits of all employees servicing the Property ; payroll taxes; labor and materials for repairs and replacements for the Building and its components and other improvements on the Property ; trash removal; all general maintenance cleaning except for cleaning performed by Tenant in accordance with the terms of this Lease; service contracts; electricity, gas, water, sewer and repairother utility charges and rents unless payable by Tenant in accordance with the terms of this Lease; other general licenses and permits required for the ownership and operation of the Property ; sales and maintenance costs use taxes payable by Landlord, or its agents or contractors in connection with tangible personal property and services purchased exclusively for and used exclusively in the management, operation, maintenance, care and repair of the Property ; fuel oil; painting; security; professional fees; administrative expenses; management fees paid to third parties in connection with the management of the Property, which management fees shall not exceed four (4%) percent of the Annual Rent payable by Tenant for each calendar year during the Term; and alterations and improvements made by reason of governmental or insurance company requirements. To the extent any expenses are shared with any other properties owned or managed by Landlord or is affiliates (including, without limitation, the 1015 Building), only the pro-rated portion of such expense relating to the Property shall be included in “expenses.” The term “expenses” shall include all labor capital improvements (subject to Section 5(b) below) provided that the cost for such capital improvements shall be amortized on a straight-line basis over a useful life period, and supplies required Tenant shall reimburse Landlord for the portion of such costs allocable to the applicable amortization period which falls within the Term hereof. At Tenant’s option, Expense Rent with respect to capital expenditures shall be paid by Tenant either (i) in a lump sum without interest within twenty (20) days of its receipt of Landlord’s invoice therefor, or (ii) in monthly installments, as Additional Rent, at the same time and in the same manner as Annual Rent, which installments shall be paid together with annual interest on the outstanding amount at a rate equal to the “Prime Rate” reported in the “Money Rates” column of the Wall Street Journal from time to time (or such other reasonably equivalent journal should the Wall Street Journal cease publication) (the “Prime Rate”) plus six (6%) percent. Notwithstanding anything to the contrary contained herein, in the event that the Building is less than one hundred percent (100%) occupied during the Base Expense Year (including any portion of the Base Expense Year occurring prior to the Commencement Date) and/or any calendar year of the Term, the expenses of the Property for the Base Expense Year and/or such calendar year, as the case may be, shall be appropriately adjusted so that the expenses of the Property shall reflect such costs as would have been incurred in the operation of a fully occupied office building in the Philadelphia, Pennsylvania area similar to the Building. In addition to the foregoing; and administrative costs directly attributable thereto, expenses for the Base Expense Year shall also be adjusted to exclude any extraordinary expense of a one time nature incurred during the Base Expense Year.

Appears in 1 contract

Samples: Agreement of Lease (Kulicke & Soffa Industries Inc)

Operating Expenses. During In addition to the term Base Rent required to be paid hereunder, beginning with the expiration of this the Base Year specified in the Basic Lease Information (the "Base Year"), Tenant shall pay as Additional Rent, Tenant's Proportionate Share of the Building and/or Project (as applicable), 2s defined in the Basic Lease Information, of increases in Operating Expenses (defined below) over the Operating Expenses incurred by Landlord during the Base Year (the "Base Year Operating Expenses"), in the manner set forth below. Tenant shall pay the applicable Tenant's Proportionate Share of each such Operating Expenses. Landlord and Tenant acknowledge that if the number of buildings which constitute the Project increases or decreases, or if physical changes are made to the Premises, Building or Project or the configuration of any thereof, Landlord may at its discretion reasonably adjust Tenant's Proportionate Share of the Building or Project to reflect the change. Landlord's determination of Tenant's Proportionate Share of the Building and of the Project shall be conclusive so long as additional rent it is reasonably and consistently applied. "Operating Expenses" shall mean all ad valorem taxes and operating expenses and other charges costs of every kind and nature (“Operating Expenses”) incurred which Landlord shall pay or paid by Landlord become obligated to pay, because of or in connection with the ownership, management, maintenance, repair, operationpreservation, management, or ownership replacement and operation of the PremisesBuilding or Project and its supporting facilities and such additional facilities now and in subsequent years as may be determined by Landlord to be necessary or desirable to the Building and/or Project (as determined in a reasonable manner) other than those expenses and costs which are specifically attributable to Tenant or which are expressly made the financial responsibility of Landlord or specific tenants of the Building or Project pursuant to this Lease. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenantshall include, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but are not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.following:

Appears in 1 contract

Samples: Multilink Technology Corp

Operating Expenses. During At the term start of the Lease Term, (a) electric service will be provided/charged to Tenant through sub-meters installed by Landlord at Landlord’s expense; and (b) natural gas service and hot and cold water supply will be provided/charged to Tenant based on Tenant’s Proportionate Share of such utility as provided above. For all utility charges Landlord will provide a full accounting of utility charges for the whole Building service and any of the allocated or sub-metered services under the whole Building service. Notwithstanding anything contained in this Lease to the contrary, if (i) an interruption, suspension or stoppage of an Essential Service (as hereinafter defined) shall occur, except any of the same caused by the negligence or intentional acts of Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenanceTenant’s employees, repaircontractors, operation, managementagents or invitees, or ownership any person claiming by, through or under Tenant, or due to any Event of Casualty as provided for in Section 17 (any such interruption of an Essential Service being hereinafter referred to as a “Service Interruption”), and (ii) such Service Interruption occurs or continues as a result of the negligence or intentional acts of Landlord or Landlord’s employees, contractors, agents or representatives, and (iii) such Service Interruption continues for more than five (5) consecutive Business Days (as hereinafter defined) after Landlord shall have received notice thereof from Tenant, and (iv) as a result of such Service Interruption, the conduct of Tenant’s normal business operations in the Premises is materially and adversely affected, then there shall be an abatement of one day’s Fixed Rent and Additional Rent for each day during which such Service Interruption continues after such five (5) consecutive Business Day period; provided, however, that if any part of the Premises is reasonably useable for Tenant’s normal business operations or if Tenant conducts all or any part of its operations in any portion of the Premises notwithstanding such Service Interruption, then the amount of each daily abatement of Fixed Rent and Additional Rent shall only be proportionate to the nature and extent of the interruption of Tenant’s normal business operations or ability to use the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used hereinFor purposes hereof, the term “Operating ExpensesEssential Service” shall include mean each of the cost of maintaining casualty and public liability insurance covering following services: access to the Premises, real estate ad valorem taxes electric service, natural gas service, hot and all costs of managingcold water supply, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlsewer / septic service, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required HVAC service (to the extent controlled by the foregoing; and administrative costs directly attributable theretoLandlord).

Appears in 1 contract

Samples: Lease Agreement (Immunogen Inc)

Operating Expenses. During In addition to the term Base Rent required to be paid hereunder, beginning with the expiration of this the Base Year specified in the Basic Lease Information (the “Base Year”), Tenant shall pay as Additional Rent, Tenant’s Proportionate Share of the Building and/or Project (as applicable), as defined in the Basic Lease Information, of increases in Operating Expenses (defined below) over the Operating Expenses incurred by Landlord during the Base Year (the “Base Year Operating Expenses”), in the manner set forth below. Tenant shall pay the applicable Tenant’s Proportionate Share of each such Operating Expenses. Landlord and Tenant acknowledge that if the number of buildings which constitute the Project increases or decreases, or if physical changes are made to the Premises, Building or Project or the configuration of any thereof, Landlord may at its discretion reasonably adjust Tenant’s Proportionate Share of the Building or Project to reflect the change. Landlord’s determination of Tenant’s Proportionate Share of the Building and of the Project shall be conclusive so long as additional rent it is reasonably and consistently applied. “Operating Expenses” shall mean all ad valorem taxes and operating expenses and other charges costs of every kind and nature (“Operating Expenses”) incurred which Landlord shall pay or paid by Landlord become obligated to pay, because of or in connection with the ownership, management, maintenance, repair, operationpreservation, management, or ownership replacement and operation of the PremisesBuilding or Project and its supporting facilities and such additional facilities now and in subsequent years as may be determined by Landlord to be necessary or desirable to the Building and/or Project (as determined in a reasonable manner) other than those expenses and costs which are specifically attributable to Tenant or which are expressly made the financial responsibility of Landlord or specific tenants of the Building or Project pursuant to this Lease. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenantshall include, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but are not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.following:

Appears in 1 contract

Samples: Agreement of Sublease (Primal Solutions Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating All COMMERCIALLY REASONABLE costs, ------------------- expenses and other charges of every kind and nature (“Operating Expenses”) fees, incurred or paid accrued each Lease Year, including the Base Year, by Landlord in connection with the maintenanceownership, repairmanagement, operation, management, or ownership servicing and maintenance of the Premises. If requestedBuilding including, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: , any COMMERCIALLY REASONABLE costs incurred in keeping the Building in compliance with code; repairs, maintenance, additions, replacements and improvements to the Building (excluding capital improvements unless the same are reasonably intended by Landlord to reduce Operating Expenses), including all parking areas, loading and unloading areas, trash areas, roadways, sidewalks, stairways, landscaped areas, motor court plaza and fountains, striping, bumpers, irrigation systems, lighting facilities, building exteriors and roofs, fences and gates related solely to the Building; building, janitorial and cleaning supplies; uniforms and dry cleaning services; window cleaning services, plumbing, mechanical, electrical systems, life safety systems and equipment, telecommunication equipment, elevators, escalators, tenant directories, fire detection systems, including sprinkler system maintenance and repair; the cost of constructingtrash disposal, janitorial services and security services and systems; service contracts for the maintenance and operation of elevators, boilers, HVAC, mechanical equipment and exercise equipment; employees' wages, salaries and fringe benefits; payroll taxes; business and franchise taxes; Real Estate Taxes (as defined in subsection 11 below); any expenses reasonably incurred by Landlord in attempting to protest, reduce or minimize Real Estate Taxes; electricity, gas, oil and other fuels, solid waste and utility charges; sewer and water charges; premiums for fire and casualty, liability, workmen's compensation and other insurance, including any deductibles; telephone and facsimile services and other communications costs; common transportation services; any costs in connection with equipping, maintaining and repairing on site and off-site traffic controlsoperating the health club in the Building; decoratingany property owners association dues including the Tysons II Property Owners Association, painting, lighting, sanitary control, and removal Inc.; any parking management fee; the cost of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areasall business licenses, including waterBusiness Professional and Occupational License Tax and Business Improvements Districts Tax, sanitary sewer any gross receipt taxes based on rental income or other payments received by Landlord, commercial rental taxes or any similar taxes or fees; the cost of installing intra-building network cabling ("INC") and storm water lines maintaining, repairing, securing and other utility linesreplacing existing INC; administrative costs and overhead expenses; miscellaneous management-related expenses; and management fees. For purposes of determining Tenant's Proportionate Share of Operating Expenses which are not fixed and which vary depending upon Building occupancy levels, pipes and conduits; costs of utilities, including water, sewersuch as janitorial services, electricity, and gas; janitorialmanagement fees based upon rental, sweeping the Proportionate Share of such expenses shall be adjusted utilizing as the numerator the rentable square footage of the Leased Premises and cleaning as the denominator the rentable square footage of office tenants in occupancy of the Building each Lease Year. For purposes of determining Tenant's Proportionate Share of Operating Expenses which in certain instances have been contracted for separately by other tenants of the Building, such as electricity and janitorial services, trash bin rentalsthe Proportionate Share of such expenses shall be adjusted utilizing as the numerator the rentable square footage of the Leased Premises and as the denominator the rentable square footage of all remaining office tenants of the Building which do not contract separately for such services. If the cost incurred in making an improvement or replacing any equipment is not fully deductible as an expense in the year incurred in accordance with generally accepted accounting principles or income tax rules, trash pickup feesthe cost shall be amortized over the useful life of the improvement or equipment, licensesas reasonably determined by Landlord, permits and inspection fees; parking lot painting and restriping; plantingtogether with an interest factor on the unamortized cost of such item equal to the lesser of (i) twelve percent (12%) per annum, irrigatingor (ii) the maximum rate of interest permitted by applicable law. In addition, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by notwithstanding anything to the foregoing; and administrative costs directly attributable thereto.contrary contained in the definition of Operating Expenses set forth in this Section 1(b)(8), Operating Expenses shall not include the following:

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Apache Medical Systems Inc)

Operating Expenses. During The accounting of the Operating Expenses will be performed in accordance with Generally Accepted Accounting Principles. For the purpose of calculating the Operating Expenses, no Controllable Expense will increase more than five percent (5%) over the charge paid by Tenant the previous Lease Year. If the average occupancy rate of the Building Rentable Area will be less than ninety-five percent (95%) during any calendar year, or if any tenant is separately paying for (or does not require) electricity, janitorial, or other services furnished to its premises, then, for purposes of calculating Operating Expenses, the Operating Expenses for such period that vary with the level of occupancy of the Building or Project will be increased by the additional costs and expenses that Landlord reasonably estimates would have been incurred if the average occupancy rate had been ninety-five percent (95%) for such period. In no event will the Project tenants be required to pay, in the aggregate, more than 100% of the actual Operating Expenses of the Building or Project for any calendar year, and Tenant will not be required to pay more than one hundred percent (100%) of its Proportionate Share of the total increase in Operating Expenses actually incurred for the calendar year, with such actual Operating Expenses to be determined and payments reconciled through the process described above. At Tenant’s written request, Landlord will provide information sufficient to disclose or quantify adjustments made to each category of Operating Expenses increased pursuant to the provisions of this Section. For the purpose of this Section, the term of this Lease Tenant shall pay “Building” will be deemed to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with include the maintenance, repair, operation, management, or ownership roof of the PremisesBuilding and any extensions therefrom, courtyards, sidewalks, landscaping, and all other areas, facilities, improvements, and appurtenances relating to any of the foregoing; provided, however, that Operating Expenses for the Building will not include Operating Expenses for the Project. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually Within 120 days after the end of each year for such expenses. In calendar year, Landlord will submit to Tenant the event Statement showing (i) the aggregate of actual Tenant’s installments Proportionate Share of the amount by which Operating Expenses incurred during the preceding calendar year shall exceed the Tenant's Forecast Operating Expenses, (ii) the amount thereof paid by Xxxxxx, and (iii) the balance due or the overpayment. If there is a balance due, Tenant will pay the balance due as Additional Rent within thirty (30) days following receipt of such Statement. If the Statement indicates an overpayment, then Landlord will credit the net overpayment toward Tenant’s next estimated payment(s) pursuant to this Section or if at the end of the Term, will refund such excess to Tenant. Tenant or its designated representative, at its sole expense, will have the right once per calendar year during the Term to audit Landlord’s books and records relating to the Operating Expenses for the immediately preceding calendar year. This audit must take place on a mutually agreeable date during reasonable business hours at Landlord’s office at the address stated above and only after Tenant has given Landlord at least fourteen (14) calendar days prior written notice of the date and time Tenant desires to commence such audit. If Tenant elects to audit Xxxxxxxx’s books and records, Tenant will have the right to perform an audit of the Operating Expenses for the immediately preceding two (2) calendar years, such audit to be less than conducted by a reputable accounting firm reasonably approved by Landlord. If any such audit reveals an error by Xxxxxxxx resulting in an overcharge to Tenant, then Landlord will promptly reimburse Tenant for the amount erroneously charged to Tenant. Likewise, if any such audit reveals an error resulting in Tenant being undercharged, then Tenant will promptly reimburse Landlord for the amount of such deficiency. If any audit performed by Xxxxxx reveals that the Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be in total have been overstated by more than the amount of Operating Expenses due from Tenantfive percent (5%), such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include Landlord will pay and/or reimburse Tenant for the cost of maintaining casualty and public liability insurance covering the Premisesaudit not to exceed Two Thousand, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoFive Hundred Dollars ($2,500.00).

Appears in 1 contract

Samples: Lease Agreement (Precision Biosciences Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord pay, as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Additional Rent, the Operating Expenses”) incurred or paid Expenses Excess based on estimates provided by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time and subject to reconciliation as necessary provided in Section 10 below. “Operating Expenses” means and includes all expenses, costs, fees and disbursements paid or incurred by or on behalf of Landlord for managing, operating, maintaining, improving and repairing the Building or Property and all associated plumbing, heating, ventilation, air conditioning, lighting, electrical, mechanical and other systems, including, without limitation, costs of: performing the Landlord’s obligations described in Section 13; janitorial, the repair, maintenance, repaving and re-striping of any parking and dock areas; providing any services or amenities such as conference rooms, parking garage, cafeteria, or gymnasium; exterior maintenance, repair and repainting; landscaping; utilities; management fees; supplies and sundries; sales or use taxes on supplies or services; charges or assessments under any easement, license, declaration, restrictive covenant or association; legal and accounting expenses; Insurance Premiums; and compensation and all fringe benefits, worker’s compensation insurance premiums and payroll taxes paid to, for or with respect to pay such expensesall persons engaged in the operation, administration, maintenance and repair of the Property. Landlord shall xxxx Tenant annually after may allocate any item of Operating Expenses that benefits multiple buildings among such buildings equitably. Landlord may equitably allocate any item of Operating Expenses among different portions or occupants of the end of each year for such expensesBuilding or Property based on use or other considerations as determined by Landlord in Landlord’s reasonable discretion. In the event the aggregate of Tenant’s installments during the year shall be If there is less than ninety five percent (95%) occupancy during any period, Landlord may adjust those Operating Expenses that are affected by variations in occupancy levels to the amount of Operating Expenses due from Tenantthat would have been incurred had there been ninety five percent (95%) occupancy. Notwithstanding the foregoing, such deficiency in no event shall Tenant be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of charged for Operating Expenses due from Tenantas Additional Rent for the first twelve (12) months of the Term. Notwithstanding the foregoing, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses shall not include costs of alterations to the premises of other tenants of the Property, depreciation charges, interest and Rent. As used hereinprincipal payments on mortgages, ground rental payments and real estate brokerage and leasing commissions; costs incurred for Landlord’s general overhead and any other expenses not directly attributable to the term “Operating Expenses” shall include operation and management of the Building or the Property; costs of selling or financing any of Landlord’s interest in the Property; costs incurred by Landlord for the repair of damage to the Property to the extent that Landlord is reimbursed by insurance proceeds; the costs of services and utilities separately chargeable to individual tenants of the Building; advertising vacant space at the Property; the cost of repairs necessitated by the gross negligence of Landlord, its agents, employees or contractors; Landlord’s general overhead expenses incurred in connection with maintaining casualty Landlord’s existence as a corporation or other entity; costs incurred because of violation by any tenant (other than Tenant) of the terms and public liability insurance covering the Premises, real estate ad valorem taxes and all costs conditions of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduitsits lease; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoingremoving Hazardous Substances; and administrative costs directly attributable theretoTaxes. The cost of capital improvements shall not be included in Operating Expenses except for those capital improvements which are intended to reduce Operating Expenses or which are required under any governmental laws, regulations, or ordinances which were not applicable to the Building at the time it was constructed, which, together with any financing charges incurred in connection therewith, shall be amortized over their useful life as reasonably determined by Landlord.

Appears in 1 contract

Samples: Lease (Capitol Investment Corp. V)

Operating Expenses. During In addition to the term of this Lease minimum rent, Tenant shall pay to Landlord as additional rent its share of all ad valorem taxes and operating expenses and other charges for the Project. As used herein "operating expenses" shall mean all costs of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repairownership, operation, management, or ownership maintenance and repair of the Premises. If requestedProject as determined by standard real estate accounting practice, Tenant agrees to pay Landlord on including, but not limited to: wages, salaries and benefits of employees engaged in the first day operation, maintenance and repair of each calendar monththe Project; cost of consumable supplies, together with materials, tools and equipment used in the payment operation, management and maintenance of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include Project; the cost of maintaining casualty and public liability all insurance covering relating to the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the PremisesProject, including but not limited to: to the cost of casualty, rental abatement and liability insurance (and all deductibles); all accounting, legal and professional fees incurred in connection with the operation of the Project; costs of constructingrepairs, maintaining replacements and repairing on site general maintenance; cost or rental value of the Project office; and offa management fee of two and one-site traffic controlshalf percent (2 1/2%) of the minimum rent. XXXXXX SCHOLLS Operating Expenses shall not include (i) the initial cost of any construction of the Project or any part thereof; decorating(ii) costs for any capital expenditure in excess of $10,000; provided, paintinghowever that operating expenses shall include the annual amortization charge for such capital expenditure assuming amortization over the useful life of the capital asset in question together with interest thereon at the rate of 9% per annum; (iii) salary, lightingemployee benefit and payroll taxes for offsite executive or managerial personnel; (iv) brokerage fees and commissions incurred in connection with the sale or leasing of space in the Project; (v) such portion of any expenses for which Landlord is entitled to reimbursement by insurance proceeds, sanitary controlcondemnation awards, other tenants (excluding reimbursements of operating expenses pursuant to lease provisions similar to this Section) or any other source; (vi) cost of performing additions, alterations, improvements or individual services for other tenants or vacant or vacated space; (vii) any payments required in connection with any debt or ground lease encumbering the Project; (viii) any amounts not actually expended, such as contingency funds, reserve funds or sinking funds; (ix) costs and removal expenses of trashenforcing lease provisions against other tenants in the Project, garbage and other refuseincluding legal fees; (x) expenses resulting from a violation of Landlord of the terms of any lease of space in the Project or of any ground lease or mortgage to which this Lease is subordinate; (xi) the repair of any part of the Common Area to the extent covered by a construction warranty; (xii) costs attributable to maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer building; (xiii) all costs associated with the removal and storm water lines clean up of hazardous wastes and toxic substances; (xiv) cost of compliance with ADA access requirements in connection with the initial construction of the Common Area of the Project; (xv) all management fees other utility lines, pipes than the two and conduitsone-half percent (2 1/2%) fee set forth above; costs of utilities, including water, sewer, electricityand (xvi) expenses incurred to keep the Project clean, and gas; janitorialin good condition during Landlord's construction activities. The charges for any services provided by affiliates, sweeping related or designated parties of Landlord which are included in operating expenses shall be reasonable, customary and cleaning servicescompetitive with charges for similar services of independent contractors in the area where the Project is located. Tenant shall have the right, trash bin rentalsbut not more than once per year on reasonable prior notice to Landlord, trash pickup feesto inspect, licensesexamine and make copies of, permits Landlord's books, records and inspection fees; parking lot painting computations with respect to Operating Expenses, real estate taxes and restriping; plantinginsurance and Landlord shall retain such books, irrigatingrecords and computations for at least three (3) years following the period to which they relate. In the event of any overpayment by Tenant, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; Landlord shall, within thirty (30) days after demand, refund the amount of overpayment to Tenant with interest thereon, from the date of overpayment to the date refunded at the rate set forth in Section 13.3 of the Lease. Alternatively, in the event of any overpayment by Tenant, Tenant shall be entitled to offset such excess against payments becoming due as additional rent. If the audit discloses a discrepancy in excess of five percent (5%), Landlord shall be obligated to pay all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoassociated with such audit.

Appears in 1 contract

Samples: Lease (Metro One Telecommunications Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord monthly, as additional rent all ad valorem taxes and operating expenses and other charges Additional Rent, one-twelfth (1/12) of every kind and nature (“the Operating Expenses”) incurred or paid Expenses Excess based on good faith estimates provided by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time and subject to reconciliation as necessary provided in Section 8 below. No credit or payment shall be due to pay Tenant in the event Operating Expenses for any year are less than Base Operating Expenses. "Operating Expenses" means and includes all expenses, costs, fees and disbursements paid or incurred by or on behalf of Landlord for managing, operating, maintaining, improving, servicing or repairing the Building or Property and all associated plumbing, heating, ventilation, air conditioning, lighting, electrical, mechanical and other systems, including, without limitation, costs of: performing the Landlord's obligations described in Section 13; janitorial services, the repair, maintenance, repaving and re-striping of any parking and dock areas; providing any services or amenities such as conference rooms, parking garage, cafeteria, or gymnasium; exterior maintenance, repair and repainting; landscaping; snow removal; utilities; management fees; supplies and sundries; sales or use taxes on supplies or services; charges or assessments under any easement, license, declaration, restrictive covenant or association; legal and accounting expenses; Insurance Premiums; and compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid to, for or with respect to all persons engaged in the operation, administration, maintenance and repair of the Property. Landlord shall xxxx Tenant annually after may allocate any item of Operating Expenses that benefits multiple buildings on the end Property among such buildings. Landlord may allocate any item of each year for such expensesOperating Expenses among different portions or occupants of the Building or Property based on use or other considerations as determined by Landlord in Landlord's reasonable discretion. In the event the aggregate of Tenant’s installments during the year shall be If there is less than ninety five percent (95%) occupancy during any period (including the calendar year 2018), Landlord shall adjust those Operating Expenses that are affected by variations in occupancy levels to the amount of Operating Expenses due from Tenant, such deficiency that would have been incurred had there been at least ninety-five percent (95%) occupancy. Operating Expenses accounting shall be paid consistently applied from year to Landlord within ten year. During the first twelve (1012) days after demand thereforemonths of the Term, Tenant shall not be responsible for paying any excess over Tenant's Percentage of Operating Expenses Excess. In If, in any calendar year following the event calendar year 2018 (such later year being a "Subsequent Year"), a new expense item is included in Operating Expenses which was not included in Base Operating Expenses, then the aggregate cost of Tenant’s installments during the year such new item shall be more than added to Base Operating Expenses for purposes of determining the Operating Expenses Excess payable for such Subsequent Year and for each year thereafter, but only for so long as the new expense item is included in Operating Expenses. Conversely, when an expense item that was originally included in Base Operating Expenses is, in any Subsequent Year, no longer included in Operating Expenses, then the cost of such item shall be deleted from Base Operating Expenses for purposes of determining the Operating Expenses Excess payable for such Subsequent Year and for each year thereafter, but only for so long as the expense item is absent from Operating Expenses. Notwithstanding the foregoing, Operating Expenses shall not include costs of alterations to the premises of other tenants of the Property, depreciation charges, interest and principal payments on mortgages, ground rental payments and real estate brokerage and leasing commissions; costs incurred for Landlord's general overhead and any other expenses not directly attributable to the operation and management of the Building or the Property; costs of selling or financing any of Landlord's interest in the Property; costs incurred by Landlord for the repair of damage to the Property to the extent that Landlord is reimbursed by insurance proceeds or other means or sources; reserves for future capital replacements; maintenance and replacement of structural elements of the Building and the Property (including the structural walls, foundations, concrete subflooring, structural elements of the roof and underground utilities); amounts paid for services provided by affiliates of Landlord, to the extent that the same exceed the amounts which would otherwise be payable for the same services had such services been performed by unaffiliated third parties; and the costs of services and utilities separately chargeable to individual tenants of the Building. Notwithstanding the foregoing, the maximum increase in the amount of Controllable Operating Expenses due from Tenant, (defined herein below) that may be included in calculating such overpayment Operating Expenses for each calendar year during the Term shall be applied limited to Tenant’s next monthly installment of 5% per calendar year on a cumulative, compounded basis. For the purposes hereof, Controllable Operating Expenses means all Operating Expenses other than those expenses the increase in which is beyond the reasonable control of Landlord. By way of illustration and Rent. As used hereinnot limitation, examples of increases in Operating Expenses that are beyond the term “Operating Expenses” shall reasonable control of Landlord include the cost of maintaining casualty and public liability insurance covering the PremisesInsurance Premiums, real estate ad valorem taxes and all costs of managingutilities, operating and maintaining the Premisesmanagement fees, including but not limited to: costs of constructingassociation charges, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlgovernmentally mandated charges, and removal of trash, garbage wages and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretobenefits.

Appears in 1 contract

Samples: Sublease Agreement (Exagen Inc.)

Operating Expenses. During Subject to the term of this Lease Tenant shall pay Excluded Costs (as defined below) relating to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used hereinProject, the term “Operating Expenses” shall include means all expenses, costs, and amounts of every kind or nature that Landlord pays or incurs because of or in connection with the ownership, operation, management, maintenance, or repair of the Project (which includes the land and any parking areas located under the Building). Operating Expenses include, without limitation, the following amounts paid or incurred relative to the Project (a) the cost of maintaining casualty and public liability insurance covering supplying utilities to the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the PremisesProject, including but not limited to: costs of constructingwithout limitation, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, heating, ventilation, and gas; janitorialair conditioning, sweeping (b) Tax Expenses, (c) the cost of providing janitorial services and of operating, managing, maintaining, and repairing all building systems, including without limitation utility, mechanical, sanitary, storm drainage, and elevator systems, and the cost of supplies, tools, and equipment, as well as maintenance and service contracts in connection with those systems, (d) the cost of licenses, certificates, permits, and inspections relating to the operation of the Project, (e) the cost of contesting the validity or applicability of any government enactments that may affect the Operating Expenses, (f) the cost of maintenance, repair, and restoration of any parking areas located under the Building (if any), including, without limitation, resurfacing, repainting, restriping, and cleaning servicescosts, trash bin rentals, trash pickup (g) fees, licensescharges, permits and inspection other costs, including administrative, management fees; parking lot painting , and restriping; plantingaccounting costs (or amounts in lieu of such fees), irrigatingwhether paid to Landlord, gardening an affiliate of Landlord’s, or a third party, consulting fees, legal fees, and landscaping; signs accounting fees of all persons engaged by Landlord or otherwise reasonably incurred by Landlord in connection with the operation, management, maintenance, and markers; parking control repair of the Project, (h) wages, salaries, and other compensation and benefits of all persons engaged in the operation, maintenance, repair, or security guards of the Project plus employer’s Social Security taxes, unemployment taxes, insurance, and fire protection any other taxes imposed on Landlord that may be levied on those wages, salaries, and other compensation and benefits (if any of Landlord’s employees provide services for more than one project of Landlord, only the prorated portion of those employees’ wages, salaries, other compensation and benefits, and taxes reflecting the percentage of their working time devoted to the Project will be included in the Operating Expenses), (i) payments under any easement, CC&R’s, license, operating agreement, declaration, restrictive covenant, or detection service; all general maintenance other instrument relating to the sharing of costs, (j) amortization (including interest on the unamortized cost at a rate equal to the floating commercial loan rate announced from time to time by Bank of America as its “reference rate” (or a comparable rate selected by Landlord if such reference rate ceases to be published) plus three percentage points per annum) of the cost of acquiring or renting personal property used in the maintenance, repair, and repair; operation of the Project, and (k) reasonable reserves (it being acknowledged that, among other general operation and maintenance costs and expenses; all labor and supplies amounts, any amount of reserves required by a Lender (as defined below), will be deemed reasonable), and (l) the foregoing; and administrative costs directly attributable theretocost of capital improvements including those which (1) are intended as a labor saving or cost saving device or to effect other economies in the maintenance or operation of the Project, or (2) are required under any government law or regulation. All capital expenditures shall be amortized (including interest on the unamortized cost at the rate stated in subparagraph (j) of this Paragraph) over their useful life, as reasonably determined by Landlord’s certified public accountant.

Appears in 1 contract

Samples: Gross Office Lease (BeautyKind Holdings, Inc.)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term "Operating ------------------ Expenses" shall include mean all expenses incurred by Landlord for the repair and maintenance of the Outside Area and the Building, including, without limitation the following: annual roof inspections; wages and salaries of all employees engaged in the operation, maintenance and security of the Building, including taxes, insurance and benefits relating thereto; the rental cost and overhead of any office and storage space used to provide such services; cost of all supplies, materials and labor used in the operation, repair, replacement and maintenance of the Building and the Outside Area; cost of repairs and general maintenance of the Building and the Outside Area (excluding repairs and general maintenance paid for by proceeds of insurance or by Tenant or other third parties); resurfacing and restriping of the parking area; painting, sweeping, maintenance and repair of sidewalks, fountains, curbs and signs, landscape sprinkler systems, planting and landscaping; lighting and other utilities; directional signs and other markers and bumpers; maintenance and repair of any fire protection systems, lighting systems, storm drainage systems, and any other utility system; personnel to implement such services, including, if Landlord deems necessary, the cost of maintaining casualty security guards; garbage, trash, rubbish and public waste removal; all costs with respect to repairs and maintenance of utility facilities (including pipes and conduits) serving more than one tenant; depreciation on maintenance and operating machinery and equipment (if owned) and rental paid for such machinery and equipment (if rented); premiums for commercial liability insurance covering the PremisesProject; premiums for all risk or causes of loss - special form insurance and, real estate ad valorem taxes and all costs at Landlord's option, earthquake insurance on the Building; premiums for insurance against loss of managing, operating and maintaining rents for a period of twelve (12) months from the Premises, including but not limited to: costs date of constructing, maintaining and repairing on site and off-site traffic controlsthe loss; decorating, painting, lighting, sanitary control, and removal Real Property Taxes; a reasonable management fee for the manager of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoingBuilding; and administrative costs directly attributable theretoany capital improvements made to the Building or the Outside Area to reduce operating costs, to comply with governmental rules and regulations enacted after completion of the Building, to replace the roof (including the roof membrane) or the HVAC system for the Building, or to resurface the parking areas. The cost of any capital improvements shall be amortized over the useful life of the improvement and only the annual amortized cost of such item shall be included in Operating Expenses annually.

Appears in 1 contract

Samples: Tvia Inc

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general general-maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

Appears in 1 contract

Samples: Real Estate Lease (TitleMax of Virginia, Inc.)

Operating Expenses. During Tenant will pay directly all Operating Expenses of the term of this Lease Tenant Premises in a timely manner and prior to delinquency, unless otherwise specified herein that Landlord shall pay to Landlord as additional rent all ad valorem taxes directly such Operating Expenses and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates receive reimbursement from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expensesTenant. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of that Tenant fails to pay any Operating Expenses due from Tenant, such deficiency shall be paid to Landlord Expense within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from written notice by Landlord to Tenant, such overpayment shall and without being under any obligation to do so and without hereby waiving any default by Tenant, Landlord may pay any delinquent Operating Expenses. Any Operating Expense paid by Landlord and any expenses reasonably incurred by Landlord in connection with the payment of the delinquent Operating Expense may be applied billed immediately to Tenant’s next monthly installment of Operating Expenses , or at Landlord's option and Rentupon written notice to Tenant, may be deducted from the Security Deposit. As used herein, the term “"Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and " means all costs and expenses incurred by Landlord with respect to the ownership, maintenance and operation of managingthe Premises including, operating and maintaining the Premises, including but not limited to: costs of constructinginsurance, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of the foundation, roof, walls, heating, ventilation, air conditioning, plumbing, electrical, mechanical, utility systems serving any common and safety systems, paving and parking areas, including water, sanitary sewer roads and storm water lines and other utility lines, pipes and conduitsdriveways; costs maintenance of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, exterior areas such as gardening and landscaping, snow removal and signage; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repairrepair of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; other general painting; lighting; cleaning; refuse removal; security; utilities for, or the maintenance of, outside areas; building personnel costs; personal property taxes; rentals or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Premises; and maintenance fees for required licenses and permits. However, Operating Expenses shall not include any of the following: (a) Taxes; (b) principal or interest payments on loans secured by mortgages or trust deeds on any portion of the Premises or rent payable on any ground lease of the real property; (c) any late fees, fines, penalties and/or interest on past due amounts incurred by Landlord due to Landlord’s negligent failure to timely pay such amounts (unless such failure is due to Tenant’s default), (d) costs or expenses incurred by Landlord to the extent Landlord has actually collected funds in reimbursement of such costs and expenses from any policies of insurance in effect (net of any collection costs incurred and any deductible amount required to be paid under any such insurance policy); (d) salaries of employees of Landlord; (e) bad debt losses; (f) except as expressly provided in this Lease, costs of Landlord’s corporate overhead and general administrative expenses, including costs associated with the operation of the business entity that constitutes Landlord; all labor and supplies (g) contributions to operating reserves, unless required by any Lender; (h) costs arising from any charitable or political contribution made by Landlord; (i) except for the foregoingProperty Management Fee, any property management fees; (j) depreciation and administrative amortization; or (k) costs directly attributable theretoincurred in connection with the sale, ground lease, financing or refinancing of the Property (or any portion thereof), including brokerage commissions.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions

Operating Expenses. During the The term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) ” shall mean any and all expenses incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership maintenance and repair of the PremisesBuilding and the real estate which supports the Building and all associated easements, rights and appurtenances thereto (“Land”) to the extent such expenses (i) are not the result of the gross negligence or willful misconduct of Landlord or Landlord’s employees, agents, or contractors, and (iii) are not otherwise expressly excluded in this Section 5.1. If requestedBy way of example, Tenant agrees but without limitation, Operating Expenses shall include any and all of the following: salaries, wages, medical, surgical and general welfare benefits (including health, accident and group life insurance), pension payments for employees of Landlord at or below the grade of building manager engaged in the operation, management, maintenance or repair of the Building; license fees; worker’s compensation insurance; compliance with governmental laws, rules, regulations and orders (subject, however, to pay the limitations hereinafter set forth to the extent such amounts constitute capital expenditures); electricity and other utilities (except as charged directly to tenants); repairs and maintenance, but not costs of preparing, improving or altering any space in preparation for occupancy of any new or renewal tenant; cost of materials; any local or state surcharges or special charges; utility taxes; water and sewer charges; amortization over the Approved Period (with interest at Landlord’s cost of funds or (if the improvement is not financed) at the prime rate reported in The Wall Street Journal plus 400 basis points) for capital expenditures made by Landlord on (a) to the first day extent such capital expenditures are reasonably expected to decrease Operating Expenses or improve the efficiency or safety of each calendar monththe operation of the Building, together or (b) to comply with the payment of rent, such amount Laws (as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually hereinafter defined) that are enacted after the end Lease Commencement Date; premiums for casualty, liability, elevator, worker’s compensation, boiler and machinery, sprinkler leakage, rent loss, use and occupancy or other insurance; security services and costs; uniforms and dry cleaning; payroll taxes; building supplies; cleaning and janitorial services; window cleaning; trash removal; snow removal; repair and maintenance of each year the grounds, including costs of landscaping, gardening and planting; service or management contracts with independent contractors, including, but not limited to security and energy management services; usual and customary management fees for such expenses. In the event relevant market area; legal and accounting fees; telephone, telegraph, postage, stationery supplies and other materials and expenses required for the aggregate routine operation of Tenant’s installments during the year shall Building; and any other customary or reasonable expense or charge of any nature whatsoever, whether or not herein mentioned, which would be less than the amount of included in Operating Expenses due from Tenantin accordance with sound accounting and management principles generally accepted with respect to the operation of first-class office buildings in the Washington Metropolitan Area. The “Approved Period” shall mean the time period equal to the number of years in the estimated useful life of the improvement, such deficiency shall be paid except that with respect to Landlord within ten (10) days after demand therefore. In an improvement made for the event the aggregate purpose of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “reducing Operating Expenses” shall include , Landlord may reduce such time period to the number of years that it will take to fully amortize the cost of maintaining casualty the capital expenditure if the yearly amortization amount (including interest as aforesaid) is equal to the projected annual savings as reasonably estimated by Landlord. “Laws” shall mean collectively governmental laws and public liability insurance covering regulations applicable to the Building or Tenant’s use and occupancy of the Demised Premises, real estate ad valorem taxes including, without limitation, life, fire and all costs safety codes, seismic codes, and/or federal, state or local laws or regulations relating to disabled access, including, without limitation, the Americans With Disabilities Act (ADA) and any similar state or local law or any regulation, directive or guideline relating thereto. Operating Expenses shall not include any of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and following expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.:

Appears in 1 contract

Samples: Office Lease (Cvent Inc)

Operating Expenses. During the term Operating Expenses shall consist of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating costs, expenses and other charges disbursements of every kind ownership, management, maintenance, operation, administration and nature repair of the Building, Common Areas, Development and Project and related off-site areas ("Operating Expenses"), including the following costs by way of illustration, but not limitation: any and all assessments Landlord must pay for the Building and other improvements pursuant to any CC&Rs, REAs (as such terms are defined in Subparagraph 13(e)), tenancy-in-common agreements or similar restrictions and agreements affecting the Development or the Project; real property taxes (defined below) incurred and assessments and any taxes or assessments hereafter imposed in lieu thereof; rent taxes, gross receipt taxes (whether assessed against Landlord or assessed against Tenant and paid by Landlord, or both; water, water management, and sewer charges (including without limitation, maintenance and repair of private sewer lines and sewer hook-ups for the Building or the Premises); accounting, legal and other consulting fees; the net cost and expense of insurance for which Landlord is responsible hereunder or which Landlord or any first mortgagee with a lien affecting the Premises reasonably deems necessary in connection with the maintenance, repair, operation, management, or ownership operation of the Premises. If requestedBuilding (including deductible amounts thereof, Tenant agrees to pay Landlord on exclusive of any portion of the first day deductible paid under a policy of each calendar monthearthquake insurance); utilities (including, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and without limitation any utilities serving off-site Mitigation Area); window washing; security; labor; utilities surcharges, or any other costs levied, assessed or imposed by, or at the direction of, or resulting from statutes or regulations or interpretations thereof, promulgated by any federal, state, regional, municipal or local government authority in connection with the use or occupancy of the Project or the Premises or the parking facilities serving the Project or premises (collectively, "Governmental Required Expenditures"); any financing costs of same obtained by Landlord on financing of any repairs, alterations, replacements and improvements where Landlord is entitled to pass through the cost thereof under this Lease; repairs, alterations, replacements and improvements made for safety of persons or property in or about the Project or Common Areas (colectively, "Safety Expenditures"); the costs of any other capital expenditures to the extent of any reduction in Operating Expenses ("Efficiency Expenditures"); costs reasonably required to maintain the Development and Project in first class condition and repair as existing on the Commencement Date ("Maintenance Expenditures"); costs incurred in the management of the Building, if any (including supplies, wages and salaries of employees to the extent used in the management, operation and maintenance of the Building, and payroll taxes and similar governmental charges with respect thereto); any exaction, assessment, fee, charge or other cost relating to any and all governmentally mandated transportation system management programs and other transportation and traffic controlsmeasures applying to the Development and Project; decoratingBuilding management office rental, not to exceed the fair market rental value of such office and provided such office is not materially larger than necessary and only for the portion devoted exclusively to management of the Development and/or Project; a management fee not to exceed that payable to first class managers of Comparable Buildings who are not owned, controlled or affiliated with the Landlord; air conditioning; waste disposal; heating; ventilating; elevator maintenance; supplies; materials; equipment; tools; warranties; repair and maintenance of the structural portions of the Building, including the plumbing, heating, ventilating, air conditioning and electrical systems installed or furnished by Landlord; maintenance costs, including utilities and payroll expenses, rental of personal property used in maintenance, and all other upkeep of all Parking Area and Common Areas; costs and expenses of gardening and landscaping; maintenance of signs (other than Tenant's signs which shall be the sole responsibility of Tenant); personal property taxes levied on or attributable to personal property used in connection with the Project; reasonable audit or verification fees; costs and expenses of repairs, resurfacing, repairing, maintenance, painting, lighting, sanitary controlcleaning, refuse removal, security and removal similar items; and costs and expenses incurred in connection with the leasing and management of trashany parking facility used in connection with the Project, garbage including, but not limited to, the cost for payroll for clerks, attendants and other refuse; maintenance, repair and replacement of utility systems serving any common areaspersons, including waterpayroll taxes and benefits, sanitary sewer and storm water lines and other utility linespayroll processing, pipes and conduits; costs of utilitiesbookkeeping, including water, sewer, electricity, and gas; janitorial, sweeping janitorial and cleaning services, trash bin rentalsstriping and painting of parking spaces, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation repair and maintenance costs of parking equipment, and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretotraffic signs.

Appears in 1 contract

Samples: Lease and Option Agreement (Amwest Insurance Group Inc)

Operating Expenses. During The Landlord shall make a reasonable estimate of the term of this Lease Operating Expenses for each calendar year and the Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with Additional Rent the maintenance, repair, operation, management, or ownership Tenant's pro rata share of the Premises. If requestedOperating Expenses in twelve (12) equal monthly installments, Tenant agrees to pay Landlord due and payable on the first day of each month. If the last day of the Term ends on any day other than the last day of a calendar monthyear, together with any payment due to the payment Landlord or to the Tenant by reason of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year any increase or decrease in Operating Expenses shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord pro rated as applicable within ten (10) days after demand thereforeof written notice. In Operating Expenses are the event sum of the aggregate following, without limitation and whether or not within the contemplation of Tenant’s installments during the year parties, including, but not limited to: (i) the cost and expenses for the repair, replacement, maintenance, policing, insurance and operation of the Building, Land, and common areas; (ii) the cost for fire, rent, casualty, glass, flood, liability, fidelity and such other insurance required by the Landlord or other parties having an insurable interest; (iii) the fees payable to a managing agent appointed by the Landlord (provided same are competitive with the fees payable to independent managing agents of comparable facilities in Morris County), not to exceed five percent (5%) of the Rent; (iv) xxxxxssional fees other than legal and accounting; (v) wages and fringe benefit payments to persons engaged in such operation, maintenance and repair (for persons not engaged on a full-time basis at this Property, these costs shall be more than allocated equitably); (vi) the amount cost of building and cleaning supplies and service and maintenance contracts with independent contractors; (vii) utilities covering all common areas, including heat, air conditioning and storage areas, and parking areas; (viii) utility, water and other charges for the Premises which are not separately metered; and (ix) the cost for fire alarm systems. Tenant shall have the right to receive copies, if available, of invoices reflecting amounts billed as Operating Expenses due from and Real Estate Taxes if requested in writing no later than thirty (30) days following Tenant, such overpayment 's receipt of Landlord's annual recap. Tenant shall then haxx xxx right to audit Landlord's charges for Operating Expenses and Real Estate Taxes. Such audit shall be applied to requested, in writing, not later than thirty (30) days following Tenant’s next monthly installment 's receipt of Landlord's invoices of Operating Expenses and RentXxxx Estate Tax charges and shall provide not less than thirty (30) days notice of the date of such audit. As used hereinTenant shall be entitled to audit only the expenses for the year in question and no others. Landlord shall afford Tenant access to its books and records at Landlord's offices during normal business hours. If the audit reveals that Landlord's charges are not overstated by an amount in excess ox xxxx xercent (5%), then Tenant shall reimburse Landlord for its reasonable costs incurred in preparing for the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premisesaudit, including but not limited to: costs to administrative and bookkeeping expenses of constructingLandlord's employees and employees of its duly appointed managing agent. Landlord and Tenant shall, maintaining within thirty (30) days after the audit, adjust any underpayment or overpayment and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal make any required payment or credit for any overpayment. The Landlord reserves the right to adjust the amount of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection insurance coverage from time to time as may be required or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretodesirable to provide adequate coverage consistent with then existing economic conditions.

Appears in 1 contract

Samples: Lease Agreement (Intellesale Com Inc)

Operating Expenses. During All costs and expenses incurred by Landlord during any Fiscal Year, as defined in Subsection 1.G. above, in managing, operating and maintaining the term Building and the Land, as determined by Landlord in accordance with an accounting system established and regularly applied by Landlord. Such costs and expenses shall include, but not be limited to, the cost of this Lease Tenant shall pay to Landlord as additional rent all ad valorem water, gas, sanitary sewer, storm sewer, electricity and other utilities, trash removal, telephone services, insurance, janitorial and char services and supplies, security services, labor costs (including social security taxes and contributions and fringe benefits), charges under maintenance and service contracts (including but not limited to chillers, boilers, elevators, window and security services), central heating and air conditioning, management fees, business taxes, license fees, public space and vault rentals and charges, costs, charges and other assessments made by or for any entity operating expenses a business improvement district in which the Building is located, condominium fees, assessments, dues, expenses, and other charges which are paid by Landlord as a result of every kind the Building, the Land or part or all of both being part of a condominium, and nature (“Operating Expenses”) incurred the cost of any equipment or paid services provided by Landlord in connection with the maintenance, repairservicing, operation, managementmaintenance, or ownership repair and protection of the Premises. If requested, Tenant agrees to pay Landlord Building and the Land and related exterior appurtenances (whether or not provided on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expensesLease Commencement Date). Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty capital improvements made by Landlord to manage, operate or maintain the Building, together with any financing charges incurred in connection therewith, provided that such costs shall be amortized over the useful life of the improvements and public liability insurance covering only the Premisesportion attributable to the Fiscal Year shall be included in Operating Expenses for the Fiscal Year, real estate ad valorem taxes except that no portion thereof which is attributable to any capital improvement which is completed at any time prior to the expiration of the Base Year shall be included in Operating Expenses for any Fiscal Year (including, but not limited to, the Base Year). Operating Expenses shall not include: (i) Real Estate Tax Expenses; (ii) payments of principal and all interest on any Mortgages, (iii) leasing commissions, or (iv) costs of preparing, improving or altering any space in preparation for occupancy of any new or renewal tenant. In the event that, during any Fiscal Year or portion thereof during the Term, Landlord shall furnish any utility or service which is included in the definition of Operating Expenses to less than one hundred percent (100%) of the rentable area of the Building because (i) less than all of the rentable area of the Building is occupied, (ii) any such utility or service is not desired or required by any tenant, or (iii) any tenant is itself obtaining or providing any such utility or service, then the Operating Expenses for such fiscal Year shall be increased to equal the total expenses that Landlord reasonably estimates it would have incurred if Landlord had provided all such utilities and services to one hundred percent (100%) of the rentable area of the Building for the entire Fiscal Year. For example, if the average occupancy rate of the Building during a Fiscal Year is eighty percent (80%), the janitorial contractor’s charges are $1.00 per occupied rentable square foot per year, and the Building contains one hundred thousand (100,000) rentable square feet of space, then it would be reasonable for Landlord to estimate that, if the Building had been one hundred percent (100%) occupied during the entire Fiscal Year, janitorial charges for such Fiscal Year would have been One Hundred Thousand Dollars ($100,000) and to compute the Operating Expenses for such Fiscal Year accordingly. In no event shall the provisions of this paragraph be used to enable Landlord to collect from the tenants of the Building more than one hundred percent (100%) of the costs and expenses incurred by Landlord in managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining Building and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoLand.

Appears in 1 contract

Samples: Office Lease (Sucampo Pharmaceuticals, Inc.)

Operating Expenses. During Throughout the term Term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with Lease, commencing on the maintenance, repair, operation, management, or ownership of the Premises. If requestedCommencement Date, Tenant agrees to pay Landlord on the first day of each calendar month, together as additional rent in accordance with the payment terms of rentthis Section 4, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount 's Share of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and RentExpenses. As used hereinin this Lease, the term “Operating Expenses” "OPERATING EXPENSES" shall include the cost consist of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managingand expenses for the ownership, operating and maintaining the Premisesoperation, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving the Project as determined by Landlord utilizing standard accounting practices and calculated assuming the Project is one hundred percent (100%) occupied. Operating Expenses shall include the following costs by way of illustration but not limitation: (i) Real Property Taxes; (ii) any common areasand all assessments under any covenants, including conditions and restrictions affecting the Project; (iii) water, sanitary sewer and storm water lines and other utility lines, pipes and conduitscharges; (iv) costs of utilitiesinsurance obtained by Landlord pursuant to Section 21 of this Lease; (v) waste disposal and janitorial services; (vi) security; (vii) labor; (viii) management costs including, without limitation: (A) wages, salaries, pension payments, fringe benefits, uniforms and dry-cleaning thereof (and payroll taxes, insurance and similar charges ) of property management employees, and (B) management office rental, supplies, equipment and related operating expenses and commercially reasonable management/administrative fees; (ix) supplies, materials, equipment and tools including rental of personal property; (x) repair and maintenance of all portions of the buildings within the Project, including waterthe plumbing, sewerheating, electricityventilating, air-conditioning and electrical systems installed or furnished by Landlord; (xi) maintenance, sweeping, repairs, resurfacing, and gasupkeep of all parking and other Common Areas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees(xii) amortization on a straight line basis over the useful life (together with interest at the Interest Rate on the unamortized balance) of all capital expenditures which are: (A) reasonably intended to produce a reduction in operating charges or energy consumption; parking lot painting and restripingor (B) required under any governmental law or regulation that was not applicable to the Project as of the date hereof; planting, irrigating, or (C) for replacement or restoration of any Project equipment and/or improvements needed to operate and/or maintain the Project at the same quality levels as prior to the replacement or restoration; (xiii) gardening and landscaping; (xiv) maintenance of signs (other than signs of tenants of the Project); (xv) personal property taxes levied on or attributable to personal property used in connection with the Common Areas; (xvi) reasonable accounting, audit, verification, legal and markersother consulting fees; parking control and security guards (xvii) any other costs and fire protection or detection service; expenses of repairs, maintenance, painting, lighting, cleaning, and similar items, including appropriate reserves. Notwithstanding the foregoing, Operating Expenses shall not include (i) management costs in excess of four percent (4%) of all general maintenance and repair; other general operation rent received by Landlord from all tenants leasing space in the Project, (ii) repair and maintenance costs of the structural walls, foundations, concrete subflooring, structural elements of the roof or underground utilities installed by Landlord in any of the buildings within the Project and expenses; all labor and supplies required by (iii) any of the foregoing; and administrative costs directly attributable thereto.following:

Appears in 1 contract

Samples: HNC Software Inc/De

Operating Expenses. Landlord shall promptly perform all maintenance and repairs upon the common areas, including, without limitation, all landscaped areas, parking areas and structures, paved areas, sidewalks and drives at or serving the Building or the Property, except to the extent expressly made the responsibility of Tenant under this Lease Agreement. During the term Term of this Lease Agreement and any renewals or extensions thereof, Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges its pro rata share of every kind and nature (“the Operating Expenses”) Expenses incurred or paid by Landlord in connection with owning, operating, managing, maintaining, repairing, replacing and insuring the Building, the Parking Areas and other common areas of the Building, and the parcel(s) of land on which they are located, including for Retail Lots 6 and 7. The term "Operating Expenses" herein shall include, but not be limited to: (a) all payments by Landlord for maintenance, operation, repair, operationreplacement and care of: (i) all heating, managementlighting, fire protection and plumbing fixtures in or ownership serving the Parking Areas and other common areas and (ii) all equipment, systems, roofs, exterior glass, landscaped areas, signs, the Building’s exteriors and parking lots (including seal coating); (b) all payments by Landlord for electricity, water, sewer and other utilities not separately metered or sub-metered, costs allocated to the Building or the parcels on which the Building is located pursuant to a reciprocal easement agreement or declaration (or similar document), snow removal for the Parking Areas, refuse removal, painting, insurance premiums and deductibles, management fees up to 3% of gross annual revenues for the Premises, wages and fringe benefits of personnel employed for the aforesaid work and proportionate costs of equipment purchased and used for such purposes; and (c) the amortization of capital expenditures or investments (but not improvements or expansions), all as determined on a commercially reasonable basis by Landlord using an interest rate of no greater than 8% and amortized over the useful life of the Premisescapital improvement, replacement or investment as reasonably determined by Landlord. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the The term “Operating Expenses” shall not be deemed to include any of the cost following: (i) leasing costs and commissions, costs of maintaining casualty tenant disputes, leasehold improvements and public liability other costs of preparing space for tenants, other tenant incentives, and expenses incurred in negotiating or enforcing leases; (ii) interest, principal or any other payments made to the mortgagee under any mortgage or rental or any other payments made to the ground lessor under any ground lease; (iii) costs for which Landlord is reimbursed, including costs covered by proceeds of insurance, condemnation awards or court judgments, amounts specially billed to and payable by an individual tenant and costs covered by any manufacturer’s, contractor’s or other warranty; (iv) fees and other costs for professional services provided by attorneys, space planners and architects; (v) marketing and advertising expenses; (vi) any costs of capital improvements or expansions (as opposed to capital repairs or replacements, or maintenance of items of a capital nature); (vii) political or charitable contributions; (viii) costs incurred in connection with the mortgaging, selling or changing of ownership of a building or any part of the associated real property, including, without limitation, brokerage commissions, consultants’, attorneys’ and accountants’ fees, closing costs, title insurance covering the Premisespremiums, real estate ad valorem transfer taxes and all interest charges; (ix) Real Estate Taxes (which are covered in Article 6(a)(i)) or any costs expressly excluded from the definition of Real Estate Taxes; (x) costs incurred in connection with the original construction of the Building or any other part of the Property and costs of managingrepairing, operating replacing or otherwise correcting defects or deficiencies in the design, construction or components of the improvements comprising the Property; (xi) costs incurred in connection with the investigation, removal, remediation or clean-up of Hazardous Materials from the Property or Building (including the fees of any environmental consultants); (xii) Landlord’s general corporate overhead and maintaining the Premisesgeneral and administrative expenses or wages, including but not limited to: costs of constructingsalaries, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlfees, and removal fringe benefits paid to administrative or executive personnel or officers or partners of trashLandlord not having direct day to day responsibility for operating or providing services to the Building; (xiii) any "tap fees" or one-time lump sum sewer or water connection fees for the Property payable in connection with the original construction of the Property; (xiv) costs incurred for any item to the extent covered by a manufacturer’s, garbage materialman’s, vendor’s or contractor’s warranty and other refusepaid by such manufacturer, materialman, vendor or contractor (Landlord shall pursue a breach of warranty claim for items of Landlord’s Work covered by a warranty); maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup (xv) development fees, licenses, permits impact fees and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoingsimilar charges; and administrative costs directly attributable thereto(xvi) deductibles and retentions on any insurance maintained by Landlord that are in excess of commercially reasonable deductibles (i.e., self-insurance shall not be an Operating Expense).

Appears in 1 contract

Samples: Lease Agreement (SomaLogic, Inc.)

Operating Expenses. During Except as otherwise provided in this Lease, Lessee shall pay to Lessor during the term hereof. In addition to the Base Rent, Lessee's Share, as hereinafter defined, of all Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions: (a) "Lessee's Share" is defined, for purposes of this Lease, as the percentage set forth in paragraph 1.10 of the Basic Lease Tenant Provisions, which percentage has been determined by dividing the approximate square footage of the Premises by the total approximate square footage of the rentable space contained in the Office Building Project. It is understood and agreed that the square footage figures set forth in the Basic Lease Provisions are approximations which Lessor and Lessee agree are reasonable and shall pay not be subject to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord revision except with Lessee's written consent in connection with an actual change in the maintenancesize of the Premises or a change in the space available for lease in the Office Building Project. (b) "Operating Expenses" is defined, for purposes of this Lease, to include all costs, if any, incurred by Lessor in the exercise of its reasonable discretion, for: (i) The operation, repair, operationmaintenance, managementand replacement, or ownership in neat, clean, safe, good order and condition, of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the PremisesOffice Building Project, including but not limited to, the following: costs of constructing(aa) The Common Areas, maintaining including their surfaces, coverings, decorative items, carpets, drapes and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlwindow coverings, and removal of trashincluding parking areas, garbage loading and un-loading areas, trash areas, roadways, sidewalks, walkways, stairways, parkways, driveways, landscaped areas, striping, bumpers, irrigation systems, Common Area lighting facilities, building exteriors and roofs, fences and gates; (bb) All heating, air conditioning, plumbing, electrical systems, life safety equipment, telecommunication and other refuse; maintenanceequipment used in common by, repair and replacement or for the benefit of, lessees or occupants of utility systems serving any common areasthe Office Building Project, including waterelevators and escalators, sanitary sewer tenant directories, dire detection systems including sprinkler system maintenance and storm water lines repair. (ii) Trash disposal, janitorial and security services; (iii) Any other utility lines, pipes service to e provided by Lessor that is elsewhere in this Lease stated to be an "Operating Expense"; (iv) The cost of the premiums for the liability and conduitsproperty insurance policies to e maintained by Lessor under paragraph 8 hereof; costs (v) The amount of utilities, including the real property taxes to be paid by Lessor under paragraph 10.1 hereof; (vi) The cost of water, sewer, gas, electricity, and gasother publicly mandated services to the Office Building Project; janitorial(vii) Labor, sweeping salaries and applicable fringe benefits and costs, materials, supplies and tools, used in maintaining and/or cleaning services, trash bin rentals, trash pickup fees, licenses, permits the Office Building Project and/or parking or other service charges and inspection feesaccounting and a management fee attributable to the operation of the Office Building Project; parking lot painting (viii) Replacing and/or adding improvements mandated by any governmental agency and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection any repairs or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.removals necessitated thereby amortized over its useful life according to Federal Income tax

Appears in 1 contract

Samples: Icc Technologies Inc

Operating Expenses. During For the term purpose of this Lease Tenant Lease, Operating Expenses shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) mean the total amounts incurred or paid by Landlord in connection with the ownership, management, maintenance, repair, operationreplacement and operation of the Building. Such expenses shall include, managementbut shall not be limited to: Janitorial and cleaning contracts and restroom supplies and cleaning equipment for the Building Common Areas; all management fees and costs for the Building; heating and air conditioning for the Building; electricity, gas, and water and sewer usage fees for the Building, excluding any utility usage fees for electricity, gas, or ownership water and sewer supplied to and paid by individual tenants; maintenance and repair of the Premises. If requestedexterior of the Building, Tenant agrees including the roof, foundation and structural portions of the Building; maintenance and repair of the Building Common Areas; the Building’s proportionate share of all costs to pay Landlord on maintain the first day Common Area; insurance costs; landscaping services; leasing or amortization of each calendar monthcapital improvements made to the Building after the date of the execution of this Lease that reduce the operating or energy expenses, improve life safety or security systems, or are required under any governmental law or regulation that was not applicable at the time the Building was constructed, such cost to be amortized over such reasonable period as determined at Landlord’s sole discretion, together with interest on the payment of rent, such amount as Landlord estimates from time unamortized balance at a rate equal to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten percent (10%) days after demand therefore. In per annum at the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, time such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection capital improvement is put into service; all general maintenance and repair; other general taxes. Taxes, for the purposes of this paragraph, shall mean: personal property taxes on property and equipment used in the operation and maintenance costs and expensesof the Building; all labor and supplies real estate taxes including state equalization factor, if any, payable (adjusted after protest or litigation, if any) for any part of the term of this Lease, exclusive of penalties or discounts, on the Building; any taxes which shall be levied in lieu of any such taxes on the gross rentals of the Building; any special assessments against the Building which shall be required by to be paid during the foregoingcalendar year in respect to which taxes are being determined; and administrative costs directly attributable theretothe expense of contesting the amount or validity of any such taxes, charges, or assessments, including tax consultant fees, such expense to be applicable to the period of the item contested.

Appears in 1 contract

Samples: Lease Agreement

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating All costs, expenses and other charges disbursements of every kind and nature (“Operating Expenses”) incurred which Landlord shall pay or paid by Landlord become obligated to pay in connection with the maintenanceownership, repairmanagement, operation, managementmaintenance, or ownership replacement and repair of the Premises. If requested, Tenant agrees to pay Landlord on Property (including the first day amortized portion of each calendar monthany capital expenditure or improvement, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expensesinterest thereon). Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenantshall not include, (i) costs of alterations and decorations of the premises of tenants of the Building, (ii) costs of capital improvements to the Building (except for amortized portion of capital improvements (together with interest thereon) installed for the purpose of reducing or controlling Operating Expenses or complying with applicable Laws), (iii) depreciation charges, (iv) interest and principal payments on loans (except for loans for capital improvements which Landlord is allowed to include in Operating Expenses as provided above), (v) ground rental payments, (vi) real estate brokerage and leasing commissions, (vii) advertising and marketing expenses, (viii) expenses incurred in negotiating leases of other tenants in the Building or enforcing lease obligations of other tenants in the Building, (ix) Landlord’s or Landlord’s property manager’s corporate general overhead or corporate general administrative expenses, (x) the cost of electrical energy furnished directly to tenants of the Property and paid for by such deficiency shall be paid tenants directly to the provider of such electrical energy, (xi) salaries or fringe benefits of personnel above the grade of Building Manager, (xii) the cost of any items to the extent to which such cost is reimbursed to Landlord within ten by tenants of the Property (10) days after demand therefore. In other than by virtue of the event the aggregate pass-throughs of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include to tenants of the cost Building), insurance or condemnation proceeds or third parties, (xiii) costs incurred in connection with the making of maintaining casualty and public liability insurance covering repairs which are the Premises, real estate ad valorem taxes and all costs obligation of managing, operating and maintaining another tenant of the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlBuilding, and removal (xiv) costs incurred by Landlord as a result of trashLandlord’s breach of this Lease or any other lease with a tenant of the Property. If any Operating Expense, garbage and other refuse; maintenancethough paid in one year, repair and replacement relates to more than one calendar year, at option of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoLandlord such expense may be proportionately allocated among such related calendar years.

Appears in 1 contract

Samples: Initial Premises Workletter Agreement (FSP 303 East Wacker Drive Corp.)

Operating Expenses. During Operating Expenses" shall mean and include all reasonable amounts, expenses, and costs of whatever nature paid by or on behalf of Landlord for the term management (excluding wages and benefits for employees above the level of building manager), operation, repair, maintenance and security of the Building and Landlord's personal property which may be reasonably utilized in connection therewith. Without limiting the foregoing, Operating Expenses will include a share (equal to the rentable square footage of the Building divided by the total rentable square footage of all buildings in the Project from time to time) of any costs and expenses incurred by Landlord which are for the benefit of the Project generally, rather than any particular Building. If, however, greater security is required for an occupant of a particular building in the Project, or if an occupant requires repairs or maintenance to such occupant's specific tenant improvements (excluding however, repairs or maintenance to the Base Building which are included in Operating Expenses), the cost of such greater security or repairs or maintenance to such occupant's specific tenant improvements will not be treated as a cost for the benefit of the Project generally under this provision, but will be allocated specifically to such occupant. Notwithstanding the foregoing, controllable Operating Expenses (which include landscaping, janitorial, pest control and waste removal) shall not increase more than five percent (5%) per annum. Notwithstanding anything to the contrary herein, Operating Expenses shall not include, and Tenant shall not be required to pay or reimburse Landlord for any part of the following: property management fees in excess of five percent (5%) of Base Rent; the cost of capital improvements or depreciation (except as expressly permitted by the next sentence); interest and principal payments on mortgages, ground lease rentals and other non-operating debts of Landlord; specific costs for special items or services billed to specific tenants (or that would be billed to another tenant if its lease required payments in addition to base rent on substantially the same terms and conditions as this Lease Tenant shall pay to requires of Tenant); costs of correcting construction or design defects or violations of law existing as of the Commencement Date; legal fees or other costs incurred because of any lease negotiation or dispute between Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature tenants or prospective tenants; income, excess profits, franchise, transfer, estate or inheritance taxes; costs paid by insurance, recovery upon construction warranties or other sources (excluding reimbursement by tenants for Operating Expenses”) ); leasing commissions, attorneys' fees, advertising expenses, and other expenses incurred or paid by Landlord in connection with leasing, selling or conveying any interest in the maintenance, repair, operation, management, Project or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduitsland associated therewith; costs of utilitiesrepairs or other work occasioned by fire, including waterwind storm or other casualty or necessitated by condemnation. Operating Expenses shall, sewerhowever, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.include:

Appears in 1 contract

Samples: Lease Agreement (Eloyalty Corp)

Operating Expenses. During (a) The amount of the term Annual Operating Expenses set forth in Section 1(n) above represents Landlord’s current good faith estimation of Tenant’s Share of the estimated Operating Expenses for the calendar year in which the Term commences (excluding the cost of janitorial service to the Premises, unless Tenant requests that Landlord undertake such services and the parties agree upon the cost therefor to Tenant), which amount will be confirmed or adjusted (based on reasonable supporting documentation demonstrating an increase in third party costs and expenses constituting Annual Operating Expenses) by Landlord as necessary prior to the Commencement Date. Furthermore, Landlord may proportionally adjust such amount from time to time after the Commencement Date if the estimated Annual Operating Expenses increase or decrease; provided, however, that Tenant’s monthly installment shall not be reset more than once during any calendar year; provided further, however, that Landlord may also invoice Tenant separately from time to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses, and Tenant shall have a period of not less than thirty (30) days within which to pay such expense. By April 30th of each year (and no later than ninety (90) days after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the Property), Landlord shall provide Tenant with an itemized statement of Operating Expenses for the preceding calendar year or part thereof substantially in the form set forth as Exhibit “I” attached hereto (the “Landlord’s Statement”). Within thirty (30) days after delivery of the Landlord’s Statement to Tenant, Landlord or Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and the other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses any overpayment or deficiency then due from Tenantone to the other or, such deficiency shall be paid to at Landlord’s option, Landlord within ten (10) days after demand therefore. In the event the aggregate of may credit Tenant’s installments during account for any overpayment against the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly following installment of Operating Expenses and Rentthereafter until fully exhausted. As used hereinLandlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section 6(a) shall survive the expiration or termination of this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord may, in its reasonable discretion, determine from time to time to alter the term “method of computing and allocating Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlprovided that such method is consistent with generally accepted accounting principles consistently applied (“GAAP”), and removal provided, further, that Tenant shall be able to reasonably and competently audit and analyze, on a line item basis, changes in Operating Expenses year over year notwithstanding such change in methodology. Annual Operating Expenses shall be net of trash, garbage all discounts and other refuse; maintenance, repair reduced by all rebates actually received by Landlord and replacement shall in no event exceed 100% of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; the Annual Operating Expenses actually incurred in such year. There shall be no duplication of costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoreimbursements.

Appears in 1 contract

Samples: Lease Agreement (Iovance Biotherapeutics, Inc.)

Operating Expenses. During From and after the term of this Lease Commencement Date, during the Term, the Tenant shall pay to the Landlord, as Additional Rent, the Tenant’s Operating Expenses Allocable to the Premises, in accordance with this Section 3.3 including, without limitation, the conditions and limitations set forth in clauses (a) through (k) below, with respect to each 12-month period beginning February 1 each year or such other fiscal period of twelve (12) consecutive months hereinafter adopted by the Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature for lease administration purposes (“Operating ExpensesFiscal Year”). “The Tenant’s Operating Expenses Allocable to the Premises” means that portion of the Operating Expenses for the Property which bears the same proportion thereto as the Rentable Floor Area of the Premises bears to the Total Rentable Floor Area of the Building. The term “Operating Expenses for the Property” means the Landlord’s actual cost of operating, cleaning, maintaining and repairing the Property, the roads, driveways and walkways for providing access to the Building, and shall include without limitation, the cost of fulfilling the maintenance and repair obligations required to be performed by Landlord under Section 5.1 and, subject to the exclusions set forth below, the cost of services specified on Exhibit D; premiums for insurance carried pursuant to Section 7.4; the amount of any deductible associated with an insurance claim of the Landlord; compensation including, without limitation, fringe benefits, worker’s compensation insurance premiums and payroll taxes paid to, for or with respect to all persons (University Park/Building general manager and below) engaged in the operating, maintaining or cleaning of the Property; interior landscaping and maintenance; steam, water, sewer, gas, oil electricity, telephone and other utility charges (excluding any such utility charges either separately metered or separately chargeable to the Tenant for either measured or additional or special services); cost of providing HVAC services other than such services described in Section 3.4; cost of building and cleaning supplies; the costs of routine environmental management programs operated by Landlord; market rental costs (or alternatively the Amortization Charge-off [as hereinafter defined] so long as the expenses which are the subject of such Amortization Charge-off would have been permitted Operating Expenses had the item in question been purchased) with respect to equipment used in the operating, cleaning, maintaining or repairing of the Property; cost of cleaning; cost of maintenance, and non-capital repairs and replacements; cost of snow removal; cost of landscape maintenance; security services; payments under service contracts with independent contractors; management fees at reasonable rates consistent with comparable single-tenant or multi-tenant buildings, as applicable, in the Cambridge market with the type of occupancy and services rendered (the parties agree that for the first Lease Year, this shall equal $0.85 per rentable square foot, and shall be subject to reasonable adjustments during subsequent Lease Years); the cost of any capital repairs, replacements or improvements: (i) required by any law or regulation enacted or promulgated after the issuance of a building permit for the construction of the Building, (ii) which is required in order to maintain the Property in the condition it is required to be kept and maintained under Section 5.1, (iii) which reduces the Operating Expenses for the Property, or (iv) which improves the management and operation of the Property in a manner reasonably acceptable to Tenant (all such capital costs to be amortized on a straight-line basis in accordance with generally accepted accounting principles, together with interest on the unamortized balance at such rate as may have been paid by the Landlord on funds borrowed for the purpose of making such capital repairs, replacements or improvements (or if the Landlord did not borrow such funds, then at the base lending rate announced by a major commercial bank designated by the Landlord), with only the annual amortization amount (“Amortization Charge-off”) incurred or being included in Operating Expenses with respect to any Operating Fiscal Year); charges equitably and reasonably allocated to the Building for the operating, cleaning, maintaining, securing and repairing of the Common Areas excluding the initial capital improvement costs associated with initially establishing the Common Areas; and all other reasonable and necessary (in the Landlord’s reasonable judgment) expenses paid by Landlord in connection with the maintenance, repair, operation, managementcleaning, or ownership maintenance and repair of the PremisesProperty. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency for the Property shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall not include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.following:

Appears in 1 contract

Samples: Sublease Agreement (Aveo Pharmaceuticals Inc)

Operating Expenses. During Notwithstanding anything to the contrary contained in Paragraph 4.2 of the Lease Agreement, the term "Operating Expenses" shall not include: (a) the cost of this Lease Tenant shall pay labor and employees with respect to Landlord as additional rent all ad valorem taxes any employee above the level of building manager; (b) the cost of labor and operating expenses employees with respect to any supervisory or other personnel not located at the Industrial Center on a full-time basis unless such costs are appropriately allocated between the Industrial Center and the other responsibilities of such personnel; (c) the cost of fixturing, furnishing, painting or decorating any leasable space in the Industrial Center; (d) the cost of any "tenant allowances", "tenant concessions", and any alterations, improvements, or replacements made to leasable space in the Industrial Center; (e) cost of leasehold improvements and other charges of every kind and nature preparations for occupancy made for specific lessees; (“Operating Expenses”f) incurred amounts paid for legal, brokerage or paid by Landlord other professional services in connection with the maintenanceleasing of space or in connection with relationships or disputes with lessees, repairformer lessees, operationprospective lessees or other occupants; (g) depreciation and other non-cash charges (except as hereinafter provided); (h) interest on or amortization of debts; (i) financing or refinancing costs; (j) brokerage commissions; (k) cost of any work or services performed or furnished to any tenant to the extent that same is, management, can be or ownership of the Premises. If requested, Tenant agrees would customarily be reimbursed to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten Lessor or a third party; (10l) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty completion of the Building and public liability any other improvements to the Industrial Center; (m) the cost of correcting any defects in construction; (n) expenses for which Lessor is or will be reimbursed by insurance covering proceeds or condemnation awards; (o) advertising and promotional expenses; (p) income, transfer, inheritance and franchise taxes; (q) expenses in the Premisesnature of interest, real estate ad valorem taxes fines and all costs penalties; (r) expenses which are properly allocable to property other than the Industrial Center are located; (s) rent, additional rent and other charges payable under any ground lease or any lease superior to this Lease; (t) the cost of managinginstalling, operating and maintaining any specialty service such as an observatory, parking facility (unless parking is without charge for all lessees and their employees and guests), a restaurant or luncheon, athletic or recreational club; (u) any insurance premium to the Premisesextent that the cost thereof is reimbursed by any tenant or other party; (v) any management or similar fee in excess of the customary fee for a similar property located in the vicinity of the Industrial Center; (w) any costs or other sums paid to any person or entity related to or affiliated with Lessor to the extent that same exceeds the reasonable and customary cost thereof; (x) any repairs, including but not limited to: replacements or other expenses resulting from the negligence or misconduct of Lessor or its employees or agents; (y) the cost of any electricity or other utilities furnished to any leasable space; (z) accounting fees incurred in connection with the preparation of financial statements, tax returns and other documents and information for Lessor or its mortgagees; (aa) costs of constructingrepairs or replacements incurred due to casualty or condemnation; (bb) costs in connection with services (including electricity), maintaining items, or other benefits of a type which are not standard for the Industrial Center and repairing on site and off-site traffic controlswhich are not available to Lessee without specific charge therefor, but which are provided to another tenant or occupant of the Industrial Center, whether or not such other tenant or occupant is specifically charged therefor by Lessor; decorating(cc) compensation paid to clerks, paintingattendants or other persons in commercial concessions (such as snack bars, lightingrestaurant or newsstand), sanitary controlif any, and removal operated by Lessor or any subsidiary, affiliate or agent of trash, garbage Lessor; (dd) rentals and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.related

Appears in 1 contract

Samples: Cavco Industries Inc

Operating Expenses. During The term “ Operating Expenses ” shall mean all costs of operating, servicing, managing, repairing, and maintaining the term Project, the landscaping of this Lease Tenant shall pay Common Areas of the Project and the parking lot or garage used as parking for the Project . All costs of operating, servicing, administering, repairing, and maintaining the Project include any reasonable and necessary costs of operation, maintenance and repair, computed in accordance with sound accounting principles applied on a consistent basis, and will include by way of illustration, but not limitation : (i) all necessary costs of managing, operating, repairing and maintaining the Project, including, without limitation, wages, salaries, fringe benefits and payroll burden for employees on - site utilized in the day to Landlord as additional rent day operation of the Project ; public liability, flood, property damage and all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or insurance premiums paid by Landlord with respect to the Project, including any amounts that would be charged as premiums if Landlord self - insures any of the insurance risks ; liability disclaimers ; water, sewer, heating, air conditioning, ventilating, gas and all other utility charges (other than with respect to utilities separately metered and paid directly by Tenant or other tenants) ; the cost of contesting the validity or amount of real estate and personal property taxes ; janitorial services ; access control ; window cleaning ; elevator maintenance ; fire detection and security services ; gardening and landscape maintenance ; all costs of snow and ice removal ; trash, rubbish, garbage and other refuse removal ; pest control ; painting ; facade maintenance ; lighting ; exterior and partition (demising) wall repairs ; roof repairs ; maintenance of all steam, water and other water retention and discharging piping, lakes, culverts, fountains, pumps, weirs, lift stations, catch basins and other areas and facilities, whether or not on - site ; canal embankment and related maintenance ; repair and repainting of sidewalks due to settlement and potholes and general resurfacing and maintenance of parking areas ; sanitary control ; DocuSign Envelope ID: 56DCA16E - 35F8 - 4B33 - 829F - 9A99ECD27BAA DocuSign Envelope ID: C0B7CB2F - 01B0 - 4A88 - 9EF4 - 40BAC9F6327D 1097001387 \ 7 \ AMERICAS depreciation of machinery and equipment used in any of such maintenance and repair activities ; management fees ; union increases ; road sidewalk and driveway maintenance ; and all other Project maintenance, repairs and insurance ; (ii) the costs (amortized together with a reasonable finance charge) of any capital improvements : (A) made to the Project by Landlord primarily for the purpose of reducing Operating Expenses ; or (B) made to the Project by Landlord primarily to comply with any governmental law or regulation that was not in force at the Commencement Date ; (iii) the costs of supplies, materials, tools and equipment for repairs and maintenance; (iv) all real and personal property taxes, assessments (whether they be general or special), sewer rents, rates and charges, transit taxes, taxes based upon the receipt of Rent, dues from any HOA or similar association, and any other federal, state or local government charge, general, special, ordinary or extraordinary (but not including income taxes), which may now or hereafter be levied or assessed against the land upon which the Project stands or the Project for such year or the furniture, fixtures, machinery, equipment, apparatus, systems and appurtenances used in connection with the maintenanceProject for the operation thereof (the "Taxes") . Operating Expenses shall not include: (i) depreciation on the Project or any Common Areas; (ii) costs of space planning, repairtenant improvements, operationmarketing expenses, managementfinders’ fees and real estate broker commissions ; (iv) any and all expenses for which Landlord is reimbursed (either by an insurer, condemnor, tenant or ownership other person or entity), but only to the extent of such reimbursement ; (v) that portion of the Premises. If requested, Tenant agrees salaries for on or off site personnel to pay the extent any of them work for other projects owned by Landlord on or the first day Project’s managing agent ; (vi) costs in connection with services or benefits of each calendar month, together with the payment of rent, such amount as Landlord estimates from time a type which are not Project standards and are not available to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid but are available to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited toanother tenant or occupant ; DocuSign Envelope ID: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.56DCA16E - 35F8 - 4B33 - 829F - 9A99ECD27BAA DocuSign Envelope ID: C0B7CB2F - 01B0 - 4A88 - 9EF4 - 40BAC9F6327D 1097001387 \ 7 \ AMERICAS

Appears in 1 contract

Samples: Office Lease (Intrusion Inc)

Operating Expenses. During the term of Without limiting in any way Tenant's other ------------------ obligations under this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requestedLease, Tenant agrees to pay to Landlord on the first day of each calendar month, together with the payment of rent, such amount its Proportionate Share (as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount defined in this Xxxxxxxxx 0X xxxxx) of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10hereinafter defined) days after demand thereforefor the Project (hereinafter defined). In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenantshall mean (i) Taxes (hereinafter defined) payable by Landlord pursuant to Paragraph 3A below, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of any tax consultant to assist Landlord in determining the fair tax valuation of the Building and land upon which it is located (ii) the cost of utilities for the common areas of the Project payable by Landlord pursuant to Xxxxxxxxx 0 xxxxx, (xxx) Landlord's cost of maintaining casualty any insurance or insurance related expense applicable to the Building and public liability insurance covering the PremisesLandlord's personal property used in connection therewith including, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to, insurance pursuant to Paragraph 9A below, and (iv) Landlord's cost of maintaining the Project which include but are not limited to (a) maintenance and repairs, (b) landscaping, (c) common area utilities, (d) water and sewer, (e) roof repairs, (f) reasonable and customary management fees, (g) exterior painting, and (h) parking lot maintenance and repairs. Operating Expenses shall not include the following expenses: (a) any costs for interest, amortization, or other payments on loans to Landlord, (b) expenses incurred in leasing or procuring tenants, (c) legal expenses other than those incurred for the general benefit of the Building's tenants, (d) allowances, concessions, and other costs of constructingrenovating or otherwise improving space for occupants of the Building or other buildings in the Project or vacant space in the Building or other buildings in the Project, maintaining (e) rents under ground leases, (f) costs incurred in selling, syndicating, financing, mortgaging, or hypothecating any of Landlord's interests in the Building or the Project, (g) expenses for which Landlord is actually reimbursed by another source (excluding tenant reimbursement for Operating Expenses) including repair or replacement of any item covered by warranty as well as insurance proceeds received by Landlord or paid by a tenant or other third parties, (h) alterations attributable solely to individual tenants of the Project, (i) the cost of capital improvements, depreciation, interest, lease commissions, advertising and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary controlmarketing costs, and removal of trash, garbage principal payments on mortgage and other refuse; maintenancenon-operating debts of Landlord, repair (j) depreciation of the Building or other buildings in the Project, (k) salaries paid to employees above the Building manager level, commission to brokers, advertising and promotion costs, and wages, salaries, fees and benefits paid to executive personnel or officers or partners of Landlord, (l) the cost of tools and equipment used initially in the construction of the Project, (m) costs incurred in connection with the original construction of the Project or with any major changes to same, including, but not limited to, additions or deletions of corridor extensions, renovations and improvements of the common areas beyond the costs caused by normal. wear and tear, and upgrades or replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.major

Appears in 1 contract

Samples: Lease Agreement (Active Power Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall mean all costs and expenses associated with the operation, management, maintenance and repair of the Property, together with the Building’s share of costs associated with the operation, management, maintenance and repair of the common areas of the Project. Operating Expenses include without limitation costs of: compliance with Landlord’s obligations under Section 10.03(c); planting and landscaping; snow removal; utility, water and sewage services; maintenance of signs (other than tenants’ signs); supplies, materials and equipment purchased or rented; total wage and salary costs paid to, and all contract payments made on account of, all persons engaged in the cost operation, maintenance, security, cleaning and repair of maintaining casualty the Property, including Social Security, old age and public liability insurance covering the Premises, real estate ad valorem unemployment taxes and all costs so-called “fringe benefits” prorated to the extent engaged in such services to or for the Building; services furnished to tenants of managingthe Property, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refusegenerally; maintenance, repair and replacement of utility systems serving any common areasBuilding equipment and components; utilities consumed and expenses incurred in the operation, including maintenance and repair of the Property including, without limitation, oil, gas, hot/chilled water, sanitary sewer and storm water lines electricity (other than electricity to tenants in their demised premises if Tenant is directly responsible for payment under this Lease on account of electricity consumed by Tenant); workers’ compensation insurance and property, liability and other utility linesinsurance premiums; personal property taxes; rental or lease payments paid by Landlord for rented or leased personal property used in the operation or maintenance of the Property; fees for required licenses and permits; refuse removal; security; an administrative fee in the initial amount of [***] per rentable square foot, pipes increasing by [***] per rentable square foot after the third (3rd) Lease Year and conduitsevery third (3rd) Lease Year thereafter, subject to a cap of [***] per rentable square foot during the initial term of this Lease and then increasing to a flat [***] per rentable square foot (i.e. without further increases) effective on the commencement of the Extension Term; Landlord’s “Percentage Share” of “CAM Charges” (as defined in the Declaration); any periodic assessments, both regular and special, for which Landlord is or becomes responsible under the Project Documents; and costs incurred by Landlord to comply with the terms and conditions of any governmental approvals affecting operations of the Property (including without limitation the Project Documents). Landlord may use third parties or affiliates to perform any of these services (subject to the limitations on Operating Expenses attributable to services performed by affiliates expressly set forth in the immediately following paragraph), and the cost thereof shall be included in Operating Information redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been separately filed with the Commission. Expenses, provided that Operating Expenses shall not include any property management fee, other than the administrative fee described above. Landlord shall reasonably allocate the cost of any Operating Expenses incurred jointly for the Property and any other property. In addition, if Landlord from time to time repairs or replaces any existing improvements or equipment or installs any new improvements or equipment to the Building (including without limitation energy conservation improvements or other improvements), then the cost of such items that are treated as capital expenses pursuant to generally accepted accounting principles (to the extent not excluded below) shall be amortized over their useful life, as reasonably determined by Landlord, together with interest at an actual or imputed interest rate (at the prime rate of interest then being charged by the Bank of America or its successors, plus 4%) and included in Operating Expenses. Notwithstanding the foregoing, Operating Expenses shall not include: the cost of designing and constructing the Landlord Work; the costs of initial contributions, exactions, and costs of a capital nature, for which Landlord is or becomes responsible under the Project Documents (except (i) housing exactions in the amount of $5.49 per square foot of gross floor area, as defined in the Boston Zoning Code, of the Building, payable in 12 equal annual installments following the issuance of a certificate of occupancy in accordance with the “Development Impact Project Agreement” listed on Exhibit 2.01(f) and (ii) such costs to the extent included in the CAM Charges paid to FPOC for administration of the Common Areas and Facilities); and costs incurred by Landlord in order to construct the Building and any other improvements at the Property and Project in compliance with the terms and conditions of any governmental approvals affecting operations of the Property (including without limitation the Project Documents), the cost of casualty repairs to the extent covered by insurance (except for reasonable deductibles paid by Landlord under insurance policies maintained by Landlord); costs associated with the operation of utilitiesthe business of Landlord and/or the sale and/or financing of the Property, including wateras distinguished from the cost of Property operations, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; any ground or underlying lease rental; costs of disputes between Landlord and its employees, tenants or contractors; bad debt expenses and interest, principal, points and fees on debts or amortization on any mortgage or other debt instrument encumbering the Building or the Property; costs incurred by Landlord to the extent that Landlord is reimbursed by insurance proceeds or is otherwise reimbursed by third parties; expenses in connection with services or other benefits that are not offered to Tenant or to the extent that any other tenant is charged for directly; management fees paid or charged by Landlord in connection with the management of the Building; amounts paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or services in the Building to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis; costs associated with the operation of the business of the entity which constitutes Landlord as the same are distinguished from the costs of operation of the Building, including accounting and legal matters; costs of selling, syndicating, financing, mortgaging or hypothecating any of Landlord’s interest in the Building; salaries of executives and owners not directly employed in the management/operation of the Building; the cost of work done (including without limitation leasehold improvements and redecoration work) or services furnished by Information redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been separately filed with the Commission. Landlord exclusively for a particular tenant; the cost of soil and groundwater testing, remediation and other response actions, except to the extent the need therefor arises from any negligence or willful misconduct of Tenant or Tenant’s employees, agents or contractors, or any default of Tenant under this Lease; advertising and other fees and costs (including without limitation legal, architectural and brokerage fees and tenant improvement allowances) incurred in procuring tenants; costs incurred in connection with causing the Base Building Work to comply with Legal Requirements existing as of the Commencement Date; repairs, alterations, additions, improvements or replacements made to rectify or correct any defect in the design, materials or workmanship of the Base Building Work or common areas during any warranty period (to the extent covered by warranty) or to comply with any requirements of any governmental authority in effect as of the Commencement Date; costs of repairs, restoration, replacements or other work occasioned by (i) fire, windstorm or other casualty and either (a) paid by insurance required to be carried by Landlord under this Lease, or (b) otherwise paid by insurance (not including any deductible paid by Landlord) then in effect obtained by Landlord, (ii) the exercise by governmental authorities of the right of eminent domain, whether such taking be total or partial, to the extent that Landlord is compensated by such governmental authority for such repairs, restoration, replacements or other work, or (iii) the act of any other tenant in the Building, or any other tenant’s agents, employees, licensees or invitees to the extent the applicable cost is recovered from such person; Landlord’s general operation overhead and administrative expenses not related to the Building; non-cash items, such as deductions for depreciation and amortization of the Building (except with respect to capital expenditures as specified above) and the Building equipment, or interest on capital invested; costs incurred due to violation by Landlord or any other tenant in the Building of the terms and conditions of any lease; salaries, wages, or other compensation to any employee of Landlord to the extent not assigned to the operation, management, maintenance, or repair of the Building, including accounting or clerical personnel and other overhead expenses of Landlord (except to the extent providing services, such as accounting, for which Landlord would otherwise use a third-party provider); costs of the initial construction of the Base Building Work; repair of defects in the Base Building Work identified in the one year period after substantial completion of the Base Building Work; any expenses related to real estate taxes, insurance, and all expenses for the construction, operation, repair and maintenance costs and expenses; all labor and supplies required by of the foregoing; and administrative costs directly attributable theretoParking Garage. None of the foregoing exclusions from Operating Expenses shall be deemed to entitle Tenant to an exclusion on account of any portion of CAM Charges, Tenant acknowledging that Landlord may vote as part of FPOC on matters affecting the CAM Charges but does not control FPOC. [***]. Tenant shall pay Tenant’s Pro Rata Share of Operating Expenses in accordance with Section 4.02.

Appears in 1 contract

Samples: Confidential Treatment Requested (Vertex Pharmaceuticals Inc / Ma)

Operating Expenses. During (a) The amount of the term Annual Operating Expenses set forth in Section l(g) above represents Tenant’s Share of the estimated Operating Expenses for the calendar year in which the Term commences. Landlord may adjust such amount from time to time if the estimated Annual Operating Expenses increase or decrease; Landlord may also invoice Tenant separately from time to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses. By April 30th of each year (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the Property), Landlord shall provide Tenant with a statement of Operating Expenses for the preceding calendar year or part thereof. Within 30 days after delivery of the statement to Tenant, Landlord or Tenant shall pay to the other the amount of any overpayment or deficiency then due from one to the other or, at Landlord’s option, Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by may credit Tenant’s account for any overpayment. If Tenant does not give Landlord in connection notice within 30 days after receiving Landlord’s statement that Tenant disagrees with the maintenance, repair, operation, management, or ownership of statement and specifying the Premises. If requesteditems and amounts in dispute, Tenant agrees shall be deemed to have waived the right to contest the statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord on the first day of each calendar monthmay, together with the payment of rentin its reasonable discretion, such amount as Landlord estimates determine from time to time as necessary the method of computing and allocating Operating Expenses, including the method of allocating Operating Expenses to pay such expensesvarious types of space within the Building to reflect any disparate levels of services provided to different types of space. If the Building is not fully occupied during any period, Landlord shall xxxx Tenant annually after may make a reasonable adjustment based on occupancy in computing the end of each year Operating Expenses for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of period so that Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In are computed as though the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoBuilding had been fully occupied.

Appears in 1 contract

Samples: Lease Agreement (TherapeuticsMD, Inc.)

Operating Expenses. During In addition to the term of this Lease Monthly Base Rent, Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount Percentage of Operating Expenses due from Tenant(which includes the Building Percentage of all costs and expenses of operation and maintenance of the Property Common Areas and the Site), such deficiency shall be paid to Landlord within ten (10) days after demand thereforein the manner and at the times set forth in the following provisions of this Section 1.18. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall consist of all costs and expenses of operation, maintenance and repair of the Building and Building Common Areas as determined by standard accounting practices, together with the Building Percentage of all costs and expenses of operation and maintenance of the Property Common Areas and the Site as determined by standard accounting practices and after the Relocation Date, calculated assuming the Property is at least ninety-five percent (95%) occupied. Operating Expenses include the cost following costs by way of maintaining casualty illustration but not limitation: (i) any and public liability insurance covering all assessments imposed with respect to the Building, Common Areas, and/or Site pursuant to any covenants, conditions and restrictions affecting the Property; (ii) costs, levies or assessments resulting from statutes or regulations promulgated by any government authority in connection with the use or occupancy of the Site, Building or the Premises, real estate ad valorem taxes ; (iii) all costs of utilities serving the Common Areas and any costs of utilities for the Premises which are not separately metered and all costs of managingany HVAC contracts and/or any repairs, operating maintenance or replacements required thereunder as provided in Section 1.19.b below, (iv) all Taxes and maintaining Insurance Costs as defined in the PremisesStandard Lease Provisions, including but not limited to(v) waste disposal; (vi) security, if any; (vii) costs incurred in the management of the Site, Building and Common Areas, including, without limitation: costs (1) supplies, materials, equipment and tools, (2) wages, salaries, benefits, pension payments, fringe benefits, (and payroll taxes, insurance and similar governmental charges related thereto) of constructingemployees used in the operation and maintenance of the Site, maintaining Building and repairing on site and off-site traffic controls; decoratingCommon Areas, painting, lighting, sanitary control, and removal (3) the rental of trash, garbage and other refuse; personal property used by Landlord’s personnel in the maintenance, repair and operation of the Property, (4) accounting fees, legal fees and real estate consultant’s fees, and (5) management/administrative fee in an amount not to exceed ten percent (10%) of the Operating Expenses, excluding all Taxes and Insurance Costs; (viii) repair and maintenance of other portions of the Building other than such portions as are maintained by Tenant, including the elevators (if any), restrooms (if any), structural and non-structural portions of the Building, and the plumbing, heating, ventilating, air-conditioning and electrical systems installed or furnished by Landlord and not maintained by Tenant pursuant to Section 8.2 of the Standard Provisions; (ix) maintenance, costs and upkeep of all parking and Common Areas; (x) amortization on a straight-line basis over the useful life together with interest at the Interest Rate (as defined in Section 1.13 of the Lease Summary) on the unamortized balance of all costs of a capital nature (including, without limitation, capital improvements, capital replacements, capital repairs, capital equipment and capital tools): (1) reasonably intended to produce a reduction in operating charges or energy consumption; or (2) required after the date of this Lease under any Law that was not applicable to the Building at the time it was originally constructed; or (3) for repair or replacement of utility systems serving any common areasequipment or improvements needed to operate and/or maintain the Building, including water, sanitary sewer the Common Areas and/or the Site at the same quality levels as prior to the repair or replacement; (xi) costs and storm water lines and other utility lines, pipes and conduits; costs expenses of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; (xii) maintenance of signs (other than signs of tenants of the Site); (xiii) personal property taxes levied on or attributable to personal property used in connection with the Building, the Common Areas and/or the Site; and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance (xiv) costs and expenses; expenses of repairs, resurfacing, repairing, maintenance, painting, lighting and similar items, including appropriate reserves. Landlord shall have the right, from time to time, to equitably allocate some or all labor of the Operating Expenses among different tenants and/or different buildings and/or difference premises of the Property based upon differing levels of use, demand, risk, or other distinctions among such parties, premises or Buildings (the “Cost Pools”). Such Cost Pools may include, for example, all office space tenants or industrial/R&D space tenants in the Property, Taxes and supplies required Insurance Costs based upon the applicable tenant improvements constructed within all or a portion of the Project, and may be modified to take into account the addition of any additional buildings within the Property. Accordingly, in the event of such allocations into Cost Pools, Tenant’s Percentage shall be appropriately adjusted to reflect such allocation. In addition, if Landlord does not furnish a particular service or work (the cost of which, if furnished by Landlord would be included in Operating Expenses) to a tenant (other than Tenant) that has undertaken to perform such service or work in lieu of receiving it from Landlord, then Operating Expenses, Insurance Costs, costs of utilities and/or Taxes, as applicable, shall be considered to be increased by an amount equal to the foregoing; and administrative additional Operating Expenses, Insurance Costs, costs directly attributable theretoof utilities and/or Taxes that Landlord would reasonably have incurred had Landlord furnished such service or work to that tenant.

Appears in 1 contract

Samples: Zhone Technologies Inc

Operating Expenses. During The accounting of the Operating Expenses will be performed in accordance with Generally Accepted Accounting Principles. For the purpose of calculating the Operating Expenses, no Controllable Expense will increase more than five percent (5%) over the charge paid by Tenant the previous Lease Year. If the average occupancy rate of the Building Rentable Area will be less than ninety-five percent (95%) during any calendar year, or if any tenant is separately paying for (or does not require) electricity, janitorial, or other services furnished to its premises, then, for purposes of calculating Operating Expenses, the Operating Expenses for such period that vary with the level of occupancy of the Building or Project will be increased by the additional costs and expenses that Landlord reasonably estimates would have been incurred if the average occupancy rate had been ninety-five percent (95%) for such period. In no event will the Project tenants be required to pay, in the aggregate, more than 100% of the actual Operating Expenses of the Building or Project for any calendar year, and Tenant will not be required to pay more than one hundred percent (100%) of its Proportionate Share of the total increase in Operating Expenses actually incurred for the calendar year, with such actual Operating Expenses to be determined and payments reconciled through the process described above. At Tenant’s written request, Landlord will provide information sufficient to disclose or quantify adjustments made to each category of Operating Expenses increased pursuant to the provisions of this Section. For the purpose of this Section, the term of this Lease Tenant shall pay “Building” will be deemed to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with include the maintenance, repair, operation, management, or ownership roof of the PremisesBuilding and any extensions therefrom, courtyards, sidewalks, landscaping, and all other areas, facilities, improvements, and appurtenances relating to any of the foregoing; provided, however, that Operating Expenses for the Building will not include Operating Expenses for the Project. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually Within 120 days after the end of each year for such expenses. In calendar year, Landlord will submit to Tenant the event Statement showing (i) the aggregate of actual Tenant’s installments Proportionate Share of the amount by which Operating Expenses incurred during the preceding calendar year shall exceed the Tenant’s Forecast Operating Expenses, (ii) the amount thereof paid by Tenant, and (iii) the balance due or the overpayment. If there is a balance due, Tenant will pay the balance due as Additional Rent within thirty (30) days following receipt of such Statement. If the Statement indicates an overpayment, then Landlord will credit the net overpayment toward Tenant’s next estimated payment(s) pursuant to this Section or if at the end of the Term, will refund such excess to Tenant. Tenant or its designated representative, at its sole expense, will have the right once per calendar year during the Term to audit Landlord’s books and records relating to the Operating Expenses for the immediately preceding calendar year. This audit must take place on a mutually agreeable date during reasonable business hours at Landlord’s office at the address stated above and only after Tenant has given Landlord at least fourteen (14) calendar days prior written notice of the date and time Tenant desires to commence such audit. If Tenant elects to audit Landlord’s books and records, Tenant will have the right to perform an audit of the Operating Expenses for the immediately preceding two (2) calendar years, such audit to be less than conducted by a reputable accounting firm reasonably approved by Landlord. If any such audit reveals an error by Landlord resulting in an overcharge to Tenant, then Landlord will promptly reimburse Tenant for the amount erroneously charged to Tenant. Likewise, if any such audit reveals an error resulting in Tenant being undercharged, then Tenant will promptly reimburse Landlord for the amount of such deficiency. If any audit performed by Tenant reveals that the Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be in total have been overstated by more than the amount of Operating Expenses due from Tenantfive percent (5%), such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include Landlord will pay and/or reimburse Tenant for the cost of maintaining casualty and public liability insurance covering the Premisesaudit not to exceed Two Thousand, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable theretoFive Hundred Dollars ($2,500.00).

Appears in 1 contract

Samples: Lease Agreement (Precision Biosciences Inc)

Operating Expenses. During In addition to the term of this Lease Monthly Base Rent, Tenant shall pay to Landlord as additional rent Tenant's Percentage of Operating Expenses (which includes the Building Percentage of all ad valorem taxes costs and operating expenses of operation and other charges maintenance of every kind the Property Common Areas and nature (“the Site), in the manner and at the times set forth in the following provisions of this Section 1.18. "Operating Expenses" shall consist of all costs and expenses of operation, maintenance and repair of the Building and Building Common Areas as determined by standard accounting practices and calculated assuming the Building is at least ninety-five percent (95%) incurred occupied, together with the Building Percentage of all costs and expenses of operation and maintenance of the Property Common Areas and the Site as determined by standard accounting practices and calculated assuming the Property is at least ninety-five percent (95%) occupied. Operating Expenses include the following costs by way of illustration but not limitation: (i) any and all assessments imposed with respect to the Building, Common Areas, and/or Site pursuant to any covenants, conditions and restrictions affecting the Property; (ii) costs, levies or paid assessments resulting from statutes or regulations promulgated by Landlord any government authority in connection with the maintenance, repair, operation, management, use or ownership occupancy of the Premises. If requestedSite, Tenant agrees to pay Landlord on Building or the first day Premises (unless triggered by the specific use or occupancy of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten another tenant or any alterations or improvements made by another tenant); (10iii) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managingutilities serving the Common Areas and all Premises Utilities Costs and utilities costs for other premises in the Building which are not separately metered which shall be billed on a pro rata basis based upon the rentable square footage of all space leased which share in the such utilities) (iv) all Taxes and Insurance Costs as defined in the Standard Lease Provisions, operating (v) waste disposal; (vi) security, if any; (vii) costs incurred in the management of the Site, Building and maintaining Common Areas, including, without limitation: (1) supplies, materials, equipment and tools, (2) wages, salaries, benefits, pension payments, fringe benefits, (and payroll taxes, insurance and similar governmental charges related thereto) of employees used in the Premisesoperation and maintenance of the Site, including but not limited to: costs Building and Common Areas, (3) the rental of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; personal property used by Landlord's personnel in the maintenance, repair and operation of the Property, (4) accounting fees and (5) a management/administrative fee; (viii) repair and maintenance of other portions of the Building other than such portions as are maintained by Tenant, including the elevators (if any), restrooms (if any), structural and non-structural portions of the Building, and the plumbing, heating, ventilating, air-conditioning and electrical systems installed or furnished by Landlord and not maintained by Tenant pursuant to Section 8.2 of the Standard Provisions; (ix) maintenance, costs and upkeep of all parking and Common Areas; (x) amortization on a straight-line basis over the useful life together with interest at the Interest Rate (as defined in Section 1.13 of the Lease Summary) on the unamortized balance of all costs of a capital nature (including, without limitation, capital improvements, capital replacements, capital repairs, capital equipment and capital tools) that are: (1) reasonably intended to produce a reduction in operating charges or energy consumption; or (2) required after the date of this Lease under any Law that was not applicable to the Building at the time it was originally constructed; or (3) for repair or replacement of utility systems serving any common areasequipment or improvements needed to operate and/or maintain the Building, including water, sanitary sewer the Common Areas and/or the Site at the same quality levels as prior to the repair or replacement; (xi) costs and storm water lines and other utility lines, pipes and conduits; costs expenses of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; (xii) maintenance of signs (other than signs of tenants of the Site); (xiii) personal property taxes levied on or attributable to personal property used in connection with the Building, the Common Areas and/or the Site; and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance (xiv) costs and expenses; expenses of repairs, resurfacing, repairing, maintenance, painting, lighting and similar items, including appropriate reserves. Landlord shall have the right, from time to time, to equitably allocate some or all labor of the Operating Expenses among different tenants and/or different buildings and/or difference premises of the Property based upon differing levels of use, demand, risk or other distinctions among such parties, premises or Buildings (the "Cost Pools"). Such Cost Pools may include, for example, all office space tenants or industrial/R&D space tenants in the Property and supplies required may be modified to take into account the addition of any additional buildings within the Property. Accordingly, in the event of such allocations into Cost Pools, Tenant's Percentage shall be appropriately adjusted to reflect such allocation. In addition, if Landlord does not furnish a particular service or work (the cost of which, if furnished by Landlord would be included in Operating Expenses) to a tenant (other than Tenant) that has undertaken to perform such service or work in lieu of receiving it from Landlord, then such tenant's percentage share of the foregoing; costs of such service or work shall be excluded for purposes of calculating Tenant's Percentage (and administrative the percentage share of all other tenants) as to the costs directly attributable theretoof such service or work which is included Operating Expenses and performed by Landlord.

Appears in 1 contract

Samples: WaferGen Bio-Systems, Inc.

Operating Expenses. During the term of this Lease Tenant shall pay to Any and all expenses incurred by Landlord in each calendar year as additional rent all ad valorem taxes determined in accordance with accounting procedures established and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid regularly applied by Landlord in connection with the maintenance, repair, operation, management, or ownership maintenance and repair of the Premises. If requestedBuilding and the Land, Tenant agrees to pay Landlord which accounting procedures shall be consistent with accounting procedures used by landlords of other comparable first-class office buildings in the Central Business District of Washington, D.C., taking into account the age, finishes on the first day Lease Commencement Date, method of each calendar monthconstruction and system design of such comparable buildings ("Comparable Buildings"), together with excluding Char Service Costs which are treated separately in Paragraph 6 below. By way of example, but without limitation, Operating Expenses shall include any and all of the payment following: salaries, wages, medical, surgical and general welfare benefits (including health, accident and group life insurance) and other pension contribution payments for employees of rentLandlord, employees of Landlord's management agent, or both, engaged in the operation, management, maintenance or repair of the Building, but only to the extent that such amount as Landlord estimates from employees are assigned full-time to the Building; provided, however, that Operating Expenses shall include Landlord's reasonable allocation of compensation paid to employees who are assigned part-time to the operation, management, maintenance or repair of the Building; payroll taxes with respect to the foregoing employees; license fees; costs incurred to achieve compliance with governmental laws, rules, regulations and orders, subject to the limitation set forth hereinbelow with respect to certain of such costs which constitute capital expenditures; electricity, water and sewer charges and other utilities (except as necessary charged directly to pay such expenses. tenants); repairs and maintenance but not costs of repairing, improving or altering any space in preparation for occupancy of any new or renewal tenant; cost of materials and supplies for Building maintenance; any local or state surcharges or special charges; utility taxes; capital expenditures made by Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year Term, provided, that such expenditures shall be less than limited to (i) those replacements of Building elements with other Building elements and improvements which serve similar purposes and which in Landlord's reasonable judgment will increase the amount efficiency of the Building (i.e., are reasonably anticipated by Landlord to reduce Operating Expenses due from Tenant, such deficiency shall be paid as they relate to the item which is the subject of the capital expenditure or which are reasonably anticipated by Landlord within ten (10) days after demand therefore. In to reduce the event the aggregate rate of Tenant’s installments during the year shall be more than the amount of increase in Operating Expenses due as they relate to the item which is the subject of the capital expenditure from Tenantwhat it otherwise would have been in the absence of such capital expenditure) and will not change the character of the Building, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses (ii) those replacements and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.improvements,

Appears in 1 contract

Samples: Lease Agreement (National Consumer Cooperative Bank /Dc/)

Operating Expenses. During the term of IMPROVEMENTS, REPAIRS, MAINTENANCE, REPLACEMENT, INSURANCE, TAXES AND PROPERTY MANAGEMENT. In this Lease Tenant shall pay to Landlord as additional rent triple net lease, all ad valorem taxes and operating expenses and other charges utilities are passed through to the tenants in the Building. Since the Premises is part of every kind the Building, Tenant is responsible for its prorata share of all operating expenses for the Building including but not limited to the following Building services: repairs, maintenance, replacement with respect to the Common Areas (including the roof, shell, pavement and nature resurfacing of the parking lot and sidewalks), heating, ventilation and air conditioning (“HVAC”), plumbing, glass, electrical, power generator (connected for operation of the Premises and all equipment located therein during power outages), battery backup, card access for the doors for the Building, door hardware, locks and keys, video monitoring systems, alarm systems, Common Area utilities, utilities for the Building (provided that such utilities are not metered separately as to the Premises), Common Area janitorial services, maintenance services, security services, snow removal, water, sewer and garbage, insurance, property taxes and assessments, and third party property management fees incurred in the operation and management of the Building and the Common Areas (collectively, “Operating Expenses”) incurred ). Operating Expenses for repairs or paid by Landlord in connection with replacements of a capital nature (whether or not capitalized), such as improvements, repairs or replacements to the maintenanceparking lot or other paved areas, repair, operation, management, or ownership and Tenant’s obligation shall be amortized over the useful life of the Premisesimprovement in accordance with generally accepted accounting principles, but in no event shall Tenant be obligated to pay any portion of such amortized costs extending beyond the Term of this Lease. If requestedFor purposes of this Lease, Operating Expenses shall specifically exclude electric, gas and security (if any) for Tenant’s Use of the Premises to the extent that such charges are separately billed to Tenant and are the sole responsibility of Tenant. Tenant agrees to use landlord-provided janitorial services, which shall be charged to Tenant directly or as Operating Expenses. Tenant shall separately contract and pay Landlord on for security services for Tenant’s Premises if desired by Tenant. Building common area security, if provided by Landlord, is not responsible for security for Tenant’s Premises and is only there for convenience. If due to the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate nature of Tenant’s installments during business, Landlord requires additional security for the year shall Building or Premises, this will be less than the amount of at Tenant’s expense and billed directly to Tenant. Operating Expenses due shall further exclude (i) amounts reimbursable from insurance proceeds or under warranty or paid for by any other tenant in the Building or any third party, (ii) interest, late charges or penalties incurred as a result of Landlord’s failure to pay bills in a timely manner; (iii) any charge for depreciation, interest on encumbrances or ground rents paid or incurred by Landlord; (iv) brokerage or leasing commissions; (v) amounts incurred to remediate any Hazardous Materials (as defined below) not caused by Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment Proration of Operating Expenses and Rent. As used hereinUtilities shall be on a square footage basis adjusted for hours of operation and Tenant’s proration shall be calculated by multiplying the Operating Expenses by a fraction, the term “numerator being the rentable square feet of the Premises and the denominator being the total rentable square feet of the Building (including any space occupied by Landlord) adjusted based on Tenant’s hours of operation. Tenant’s pro rata share of Operating Expenses” Expenses is currently estimated at $5.00 per rentable square foot. Utility Expenses are currently estimated at $1.95 per rentable square foot. The total Operating Expenses shall include the cost of maintaining casualty be prorated and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing be payable by Tenant as Additional Rent on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.a monthly basis as follows:

Appears in 1 contract

Samples: Triple Net Lease (Extend Health Inc)

Operating Expenses. During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s Tenants installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s Tenants installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s Tenants next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

Appears in 1 contract

Samples: Real Estate Lease (TitleMax of Virginia, Inc.)

Operating Expenses. During (a) Commencing on January 1, 2010 (the term “Expense Rent Commencement Date”), Tenant shall pay as Additional Rent Tenant’s Share referred to in Section 1(h) of the Lease of the “expenses” (as hereinafter defined) of the Property for any calendar year which occurs wholly or partially during the Term of this Lease Tenant shall pay in excess of the expenses of the Property for the calendar year referred to Landlord as additional rent all ad valorem taxes and operating expenses and other charges in Section 1(i) of every kind and nature this Lease (the Operating ExpensesBase Expense Year”) (such Additional Rent is hereinafter called the “Expense Rent”). Tenant’s Share reflects the ratio of the rentable area of the Premises to the rentable area of the Buildings and may be modified from time to time in the event of a change in the total rentable floor area of the Premises or the total rentable floor area of the Buildings; provided, however that the total rentable floor area of the Premises shall not be increased unless requested or agreed to by Tenant, and the rentable floor area of the Buildings shall not be decreased except in connection with a casualty or condemnation as set forth in Sections 21 and 22 hereinbelow. The term “expenses” shall mean any and all costs incurred or paid by Landlord in connection with the maintenance, repairownership, operation, managementmaintenance, or ownership care and repair of the Premises. If requestedProperty, Tenant agrees to pay Landlord on the first day of each calendar monthincluding, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs snow removal; repairing, resurfacing or repaving the parking areas, roads or driveways on the Property; maintaining, repairing and markersreplacing the roof and structural portions of the Property; parking control maintaining, repairing and security guards replacing the heating, ventilating and air conditioning system and other mechanical systems serving the Buildings; reasonable premiums for fire protection or detection serviceand other casualty insurance, rent insurance, liability insurance, workers compensation insurance and other insurance with respect to the Property; wages, medical insurance, pension payments and other fringe benefits of all employees servicing the Property consistent with practices in the locale of the Property; payroll taxes; labor and materials for repairs and replacements for the Buildings and its components and other improvements on the Property; trash removal; all general maintenance common area cleaning; service contracts; electricity, gas, water, sewer and repairother utility charges and rents other than those directly metered or submetered to the Premises; licenses and permits required for the ownership and operation of the Property; sales and use taxes payable in connection with tangible personal property and services purchased for the management, operation, maintenance, care and repair of the Property; fuel oil other general operation and maintenance costs and than fuel oil directly metered or submetered to the Premises; painting; security; professional fees; administrative expenses; all labor and supplies required by management fees (not to exceed 4% of the foregoinggross rent of the Property); and administrative costs directly attributable theretoalterations and improvements made by reason of governmental requirements enacted after the date hereof.

Appears in 1 contract

Samples: Agreement of Lease (Bio Imaging Technologies Inc)

Operating Expenses. During If the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord Expenses for the Property, in connection with any calendar year during the maintenanceTerm, repair, operation, management, or ownership of exceed the Premises. If requestedOperating Expenses for the Base Year, Tenant agrees to pay as additional monthly rent the Proportionate Share of such excess Operating Expenses, as estimated by Landlord on from time to time. During any partial calendar year of the first day Term, Tenant’s Proportionate Share of Operating Expenses shall be adjusted based upon the actual number of days contained within the Term during such partial calendar year. By April 30th of each calendar monthyear, together with Landlord will provide Tenant an itemized statement showing in reasonable detail all additional rent due (or any overpayments made) under this Section and Tenant (or Landlord, as the payment of rent, case may be) shall pay such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten thirty (1030) days after demand thereforereceipt of such statement; provided, however, in no event shall Tenant be released of its obligation for such additional rent if Landlord fails to send Tenant a statement within the time specified above. In no event shall the event Base Rent or other sums due under this Lease ever be reduced due to the aggregate operation of Tenant’s installments during this Section 2.4 or to Operating Expenses being less for the year shall be more Property than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rentfor the Base Year. As used herein, the The term “Operating Expenses” shall include includes all expenses of Landlord with respect to the cost ownership, maintenance, servicing, repairing and operation of maintaining casualty and public liability insurance covering the PremisesProperty, real estate ad valorem taxes and all costs of managingincluding, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areascosts (including the repairs specified in Section 5.1 below); electricity, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, gas and gasother utility charges; janitorial, sweeping window washing and cleaning janitorial services, ; trash bin rentals, trash pickup fees, licenses, permits and inspection feessnow and ice removal; parking lot painting landscaping and restripingpest control; planting, irrigating, gardening management fees (not to exceed 5% of total revenue from the Building) payable to third parties; wages and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general benefits payable to employees of Landlord’s property management company whose duties are directly connected with the operation and maintenance costs and expensesof the Property; all labor services, supplies, repairs, replacement or other expenses for maintaining and supplies operating the Property including parking and Common Areas; the cost of repairing and replacing all building standard lighting fixtures in the Property, including, without limitation, bulbs and ballasts therefore; the cost of installation of any device or other equipment which is installed to improve the operating efficiency of any system and reduce Operating Expenses; all real property taxes and installments of special assessments which accrue against the Property during the Term; governmental levies or charges of any kind or nature assessed or imposed on the Property, whether by state, county, city of any political subdivision thereof; all insurance premiums Landlord is required by to pay or deems necessary to pay, including hazard insurance and public liability insurance, with respect to the foregoingProperty; all amounts paid for liability and casualty loss pursuant to insurance deductible amounts; and administrative costs directly attributable theretoany amounts considered an operating, maintenance or management expense under generally accepted accounting principles.

Appears in 1 contract

Samples: Lease (Targacept Inc)

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