Examples of Base Year Operating Costs in a sentence
If Tenant's Share of the increase of Operating Costs over the Base Year Operating Costs is more than that paid by Tenant during the prior calendar year as Additional Rent, Tenant shall pay Landlord, within thirty (30) days of the statement receipt, the difference.
The Market Rent shall take into account the length of the Renewal Term, the fact that there are no new tenant improvements to be constructed by Landlord nor other lease-up costs (except broker commissions, if any) and shall provide for updating the Base Year Operating Costs to the first year of each renewal term, if such factors are considered market concessions at such time.
If Tenant shall be obligated to make payments as aforesaid with regard to any partial calendar year during the Lease Term, Operating Costs in excess of Base Year Operating Costs shall be prorated on the basis of the number of days during such calendar year for which Tenant is obligated to make such payments.
On or prior to the Distribution Date, the parties hereto shall have consummated those other transactions in connection with the Corporate Transactions and the Distribution that are contemplated by the Information Statement and not specifically referred to in this Section 2.1.
The Monthly Operating Fee is intended to reflect, and reimburse the Gathering System Owners to the extent the actual out-of-pocket costs (without overhead) of the Gathering System Owners of operating, maintenance, replacement and repair of the Gathering System which are not attributable to New Third Party Volumes exceed the Base Year Operating Costs.