Common Area Maintenance Expenses means all expenses (other than the Tax and Insurance Expenses described above) incurred by Landlord for the maintenance, repair, and operation of the Building, (excluding only structural soundness of the roof, foundation and exterior walls) including, but not limited to, management fees, utility expenses (if not separately metered), maintenance and repair costs, sewer, landscaping, trash and security costs (if furnished by Landlord), wages and fringe benefits payable to employees of Landlord whose duties are connected with the operation and maintenance of the Building, amounts paid to contractors or subcontractors for work or services performed in connection with the operation and maintenance of the Building, all services, supplies, repairs, replacements or other expenses for maintaining, repairing, and operating the Building, including without limitation common areas and parking areas and roof, exterior wall and foundation work that is not related to structural soundness.
Common Area Maintenance Expenses shall not include repair, restoration or other work occasioned by fire, windstorm or other casualty with respect to which Landlord actually receives insurance proceeds, income and franchise taxes of Landlord, expenses incurred in leasing to or procuring of tenants, leasing commissions, advertising expenses, expenses for the renovating of space for new tenants, interest or principal payments on any mortgage or other indebtedness of Landlord, compensation paid to any employee of Landlord above the grade of building superintendent, or depreciation allowance or expense.
Common Area Maintenance Expenses means the costs and expenses of operating, and maintaining the Common Area.
Examples of Common Area Maintenance Expenses in a sentence
With respect to Common Area Maintenance Expenses, which City allocates to the Common Areas, the "Share" allocated to each Unit shall be the percentage set forth in the Basic Information, as adjusted by City from time to time based upon changes in the operation of all Concessions.
ArticleRelated Practice AreasReal Estate TOP 10 ISSUES IN COMMON AREA AND COMMON AREA EXPENSE PROVISIONS IN RETAIL LEASES When negotiating a retail lease, the provisions relating to the Common Areas of the Shopping Center and the tenant’s obligation to contribute its respective share of Common Area Maintenance Expenses (“CAM Expenses”) are among the most heavily debated topics.
In the event the average occupancy level of Concessions for the Terminal in which the Unit is located for any calendar year is not ninety-five percent (95%) or more of full occupancy, then the Common Area Maintenance Expenses for such year shall be apportioned among the concessionaires by City to reflect those costs which would have occurred had the Concessions been ninety- five percent (95%) occupied during such year.
In addition to the Monthly Base Rent payable to City hereunder, LAWA reserves the right, in its sole discretion, to impose "Common Area Maintenance Expenses" (as defined in Section 4.3.2) charges on concessionaires operating in Terminals 4, 5, 7 and 8.
Lessor shall be entitled to deduct from the Allowance a construction management fee for Lessor’s oversight of the Tenant Improvements in an amount equal to five percent (5%) of the total cost of the Tenant Improvements.F-3 EXHIBIT G DIEC IIEstimated Real Estate Taxes, Operating Expenses, and Insurance and Common Area Maintenance Expenses DIEC II2019 Estimated CAM and Operating Expenses/sq.
More Definitions of Common Area Maintenance Expenses
Common Area Maintenance Expenses means any and all expenses for the maintenance, repair, replacement and operation of the Common Areas and any portions of the Project for which Landlord is responsible hereunder, including, but not limited to, management fees, utility expenses (if furnished by Landlord), wages and fringe benefits payable to employees of Landlord responsible for the management of the Project and amounts paid to contractors for work performed in connection with the Project. The term “Common Area Maintenance Expenses” shall not include any capital improvement to the Project other than replacements required for normal maintenance and repair, nor shall it include repairs, restoration or other work occasioned by fire, windstorm or other insured casualty, expenses incurred in leasing or procuring tenants, leasing commissions, advertising expenses, expenses for renovating space for new tenants, legal expenses incident to enforcement by Landlord of the terms of any lease, interest or principal payments on any mortgage or other indebtedness of Landlord, compensation paid to any employee of Landlord above the grade of property manager, depreciation allowance or expense. Notwithstanding the foregoing, in the event Landlord installs equipment in or makes improvements or alterations to the Building which are for the purpose of reducing energy costs, maintenance costs or other Common Area Maintenance Expenses or which are required under any Applicable Laws which were not required at the date of commencement of the Term, Landlord may include in Common Area Maintenance Expenses reasonable charges for interest on such investment and reasonable charges for depreciation on the same so as to amortize such investment over the reasonable life of such equipment, improvement or alteration on a straight line basis.
Common Area Maintenance Expenses. (as defined in the Master Lease) for the Subleased Premises.
Common Area Maintenance Expenses means all expenses of any kind or nature which are necessary, ordinary or customarily incurred with respect to the operation, repair and maintenance of the Building, and the lot on which the Building is situated, as determined in accordance with generally accepted accounting principles and shall include, but not be limited to, all sums expended in connection with Common Areas for all general operation and maintenance and repairs, resurfacing, or painting, restriping, cleaning and sweeping; maintenance and repair of sidewalks, curbs, sprinkler systems, planting and landscaping; water, lighting and other utilities; maintenance and repair of any fire protection systems, lighting systems, storm drainage systems, roof patching and any other utility systems; personnel to implement such services; personal property taxes and assessments on the improvements comprising said Common Areas; and governmental imposition or surcharge imposed against Landlord or assessed against the automobile parking area or any other portion of the Common Areas; depreciation on maintenance and operating machinery and equipment (if owned) and rental paid for such machinery and equipment (if rented). In addition, Tenant shall pay a sum to Landlord for the accounting, bookkeeping and collection of the expenses in connection with said Common Areas in an amount equal to ten percent (10%) of Tenant’s pro rata share of the total of the aforementioned expenses for each calendar year. The amount payable by Tenant for any repair that exceeds $10,000 shall be pro-rated over the useful life of the repair. Tenant shall only be required to pay its pro-rata share of the cost divided by the useful life, as determined in accordance with generally accepted accounting principles, multiplied by the remaining lease term, including the Renewal Period if Tenant has exercised its option to renew the lease. As an example, if a repair costs $20,000 and there are two years remaining on the lease term and the repair has a useful life of ten years, Tenants share would be calculated as follows: Repair cost $20,000 Useful life 10 years Remaining term 2 years $20,000/10 = $2,000 times 2 years = $4,000 Tenant’s share $4,000 times 34.3% = $1,372
Common Area Maintenance Expenses means any and all expenses (other than the Tax and Insurance Costs described above) arising from the maintenance, repair, replacement and operation of, and modifications and improvements to comply with governmental mandate to, the Project's common areas and any portions of the Project for which Landlord is responsible hereunder (excluding only expenses associated with structural integrity of the roof, foundation, and exterior walls) including, but not limited to, management fees, utility expenses (if furnished by Landlord), wages and fringe benefits payable to employees of Landlord whose duties are connected with the operation and maintenance of the Project, amounts paid to contractors or subcontractors for work or services performed in connection with the operation and maintenance of the Project, including without limitation common areas and parking areas and roof, exterior wall and foundation work that is not related to structural integrity. Any capitalized expenditures included within the foregoing (together with reasonable finance charges) will be amortized for purposes of this Paragraph over the useful life of the improvement.
Common Area Maintenance Expenses means any and all expenses (other than the Tax and Insurance Costs described above) arising from the maintenance, repair, replacement and operation of, and modifications and improvements to comply with governmental mandate to, the Project's common areas and any portions of the Project for which Landlord is responsible hereunder (excluding only expenses associated with structural integrity of the roof, foundation, and exterior walls) including, but not limited to, management fees, utility expenses (if furnished by Landlord), wages and fringe benefits payable to employees of Landlord whose duties are connected with the operation and maintenance of the Project, amounts paid to contractors or subcontractors for work or services performed in connection with the operation and maintenance of the Project, including without limitation common areas and parking areas and roof, exterior wall and foundation work that is not related to structural integrity. Any capitalized expenditures included within the foregoing (together with reasonable finance charges) will be amortized for purposes of this Paragraph over a three (3) year period.
Common Area Maintenance Expenses. All costs and expenses incurred by Landlord during any Fiscal Year in owning, managing, operating and maintaining the Park Common Areas, as determined by Landlord in accordance with an generally accepted accounting principles regularly applied by Landlord. Such costs and expenses shall include, but not be limited to the cost of insurance; 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); the cost of water, gas, sanitary sewer, storm sewer, electricity, and other utilities to Park Common Areas; the cost of services to Park Common Areas and facilities and systems related thereto (including but not limited to, paving and parking areas, lighting and sound facilities, storm and sanitary drainage systems, utility conduits, systems and ducts, fire protection systems, sprinkler systems, security systems, Building signs, whether or not located on the Land, retaining walls, curbs, gutters, fences, sidewalks, canopies, steps, ramps, grass, trees and shrubbery), which services may include, among other things, ice and snow removal, lighting, cleaning, landscaping, gardening, sweeping, painting, and resurfacing; management fees which do not exceed the rate for any one (1) comparable building in Fairfax County, Virginia which Landlord identifies to Tenant and which is not owned or managed by Landlord or any affiliate of Landlord; business taxes, and license fees assessments imposed by any association now or hereafter established to maintain the Park Common Areas (including, but not limited to, assessments imposed by any association with respect to the Park); and the cost of any equipment or services provided by Landlord in connection with the servicing, operation, maintenance repair and protection of the Park Common Areas and related exterior appurtenances (whether or not provided on the Lease Commencement Date). Park Common Area Maintenance Expenses shall include the cost of capital improvements made by Landlord to manage, operate or maintain the Park Common Areas together with any financing charges incurred in connection therewith, provided that such costs shall be amortized over the useful life of the improvements and only the portion attributable to the Fiscal Year shall be included in Park Common Area Maintenance Expenses for the Fiscal Year. Common Area Maintenance Expenses shall not include (i...
Common Area Maintenance Expenses shall not include any of the following: (a) Salaries or benefits for Landlord's executives and employees above the grade of property manager, and for any employee who does not devote all of his time to the Building; (b) costs or expenses or depreciation or amortization for capital repairs and capital replacements required to be made by Landlord pursuant to Subsection 10.1 or capital improvements for development purposes; (c) Expenditures for which Landlord is reimbursed by any insurance carrier, or from any other source; (d) Cost of repairs or replacements incurred by reason of fire or other casualty or condemnation; (e) Advertising and promotional expenditures; (f) Costs incurred in performing work or furnishing services for any tenant (including Tenant), whether at such Tenant's or Landlord's expense, to the extent that such work or service is in excess of any work or service that Landlord is obligated to furnish to Tenant at Landlord's expense; (g) Depreciation, except as provided above; (h) Bad debt loss, rent loss or reserves for either of them; (i) The cost of electricity furnished to any particular tenant and paid for by such tenant; (j) Financing costs, including points, commitment fees, broker's fees, legal fees and Mortgage interest and amortization payments; (k) Costs incurred in connection with the construction and initial development of the Building; (l) Costs, expenses or expenditures relating to the duties, liabilities or obligations of other tenants in the Building; (m) Any costs incurred by Landlord arising out of its failure to perform or breach of any of its covenants, agreements, representations, warranties, guarantees or indemnities made for the benefit of Tenant under this Lease; (n) Legal fees, space planner's fees, broker's commissions and other costs incurred by Landlord in connection with leasing space and negotiating leases with tenants of the Building, or legal fees in connection with disputes between Landlord and any tenant of the Building or between Landlord and any Mortgagee; (o) Lease payments for rented equipment, the cost of which equipment would constitute a capital expenditure if the equipment were purchased; and any late fees, penalties, interest charges or similar fees incurred by Landlord; (p) Costs of improving, altering, constructing or redecorating any space leased to tenants of the Building; (q) Any cost representing an amount paid to a person, firm, corporation or other entity related to Landlord which is in exce...