Excess Operating Costs definition

Excess Operating Costs means the amount by which the Net Interim Period Operating Costs exceeds the Maximum Interim Period Operating Costs. For the avoidance of doubt, if the Net Interim Period Operating Costs are less than or equal to the Maximum Interim Period Operating Costs, the Excess Operating Costs shall equal zero (0).
Excess Operating Costs means any excess of (i) Landlord's Operating Costs for any calendar year following the Base Year over (ii) the actual Operating Costs of the Base Year.
Excess Operating Costs means any increases in Operating Costs (defined below) for each year and partial year of the Term over the Operating Costs incurred during the Base Year. Landlord may make a good faith estimate of Excess Operating Costs to be due by Tenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar year of the Term after the Base Year, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to Tenant’s estimated Excess Operating Costs for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord may estimate and re-estimate the Excess Operating Costs to be due by Tenant and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Excess Operating Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year.

Examples of Excess Operating Costs in a sentence

  • In the case of the reconciliation for the last calendar year of the lease term, the difference between the actual Excess Operating Costs and the estimated Excess Operating Costs for the current year shall be invoiced to, or paid to, Lessee within 30 days following the determination of such amount.

  • If this Option is timely exercised, Tenant will deliver possession of the Leased Premises to Landlord on the Termination Date in accordance with the terms of the Lease and all other terms 9 O1037432.2 5/9/2014 and provisions will apply as if the Lease had expired according to its terms, including Tenant’s obligation for payment of Tenant’s Excess Operating Costs attributable to periods prior to the Termination Date at such time as such obligation is determined.

  • If estimated Excess Operating Costs for the current year exceed actual Excess Operating Costs for the current year, then a monthly pro rata portion of Lessee's Share of such excess shall be subtracted from the monthly base rental for each month of the following calendar year.

  • If the total of the estimated monthly payments made by Tenant for such year exceeds the actual amount of Tenant's Proportionate Share of Excess Operating Expenses for such Comparison Year, then Landlord shall credit against Tenant's next ensuing monthly installments of Tenant’s Proportionate Share of Excess Operating Costs an amount equal to the difference until the credit is exhausted.

  • Should Operating Costs be reduced for any calendar year after the Base Year, Lessor will credit future Excess Operating Costs in the amount of such overpayment or provide Lessee a refund of such overpayment if there are no Excess Operating Costs.


More Definitions of Excess Operating Costs

Excess Operating Costs at any point in time means, with respect to a Net Profits Interest, an amount equal to the excess of Operating Costs over Gross Proceeds of such Net Profits Interest for each calculation period. Excess Operating Costs shall be reduced by any revenues that would reduce Operating Costs pursuant to Section 1.17 hereinbelow but have not otherwise reduced such Operating Costs.
Excess Operating Costs means, for each calendar year or fractional calendar year during the Term, the amount by which Operating Costs for such calendar year or fractional calendar year exceed Base Year Operating Costs.
Excess Operating Costs means any excess of (i) Landlord's Operating Costs for any calendar year over (ii) the Operating Cost Stop multiplied by Total Square Footage.
Excess Operating Costs means the difference between (i) the Operating Costs for as Lease Year minus (ii) the product of (A) Landlord's Operating Cost Contribution multiplied times (B) the area of the Building.
Excess Operating Costs means, in a tax year, the amount (if any) by which a person’s direct operating costs in the tax year exceeds the person’s gross income from petroleum operations for the same tax year;
Excess Operating Costs means the difference between (a) Landlord's annual Operating Costs (as defined in Subparagraph 3.4.1 below) for the Base Year, and (b) Landlord's annual Operating Costs for any comparison year, in each case "grossed-up" as provided above.
Excess Operating Costs means and refer to Lessee’s Pro-Rata Share of Excess Operating and Lessee’s Pro-Rata Share of Excess Real Estate Taxes, as the context requires.