Operating Expenses definition
Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.
Operating Expenses shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, 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 operating expenses.
Operating Expenses means all unreimbursed fees, costs and out-of-pocket expenses of the Issuer, including all amounts owed by the Issuer to the Indenture Trustee (including indemnities, legal, audit fees and expenses) or any Manager, the Servicing Fee, the Administration Fee, legal and accounting fees, Rating Agency fees, any Regulatory Assessment Fees and related fees (i.e. website provider fees) and any franchise or other taxes owed by the Issuer, including on investment income in the Collection Account.
Examples of Operating Expenses in a sentence
Landlord shall be permitted to include in Operating Expenses any costs or expenses incurred by Landlord under this Article 24 to the extent not prohibited by the terms of Article 4 of this Lease, above.
Commencing November 1, 2026, and continuing through the Extended Term, Tenant shall pay monthly Base Rent in the following amounts during the following time periods: 11/01/2026-10/31/2027 $16.50/SF $39,875.00/Mo 11/01/2027-10/31/2028 $17.00/SF $41,083.33/Mo During the Extended Term, Tenant shall continue to pay Operating Expenses and all other amounts due and owing by Tenant under the Lease, in addition to the monthly Base Rent as provided above.
The costs of all such insurance shall be part of the Operating Expenses.
In addition to Base Rent, Tenant shall pay Tenant’s Percentage Share, as specified in Paragraph 1, of the Operating Expenses paid or incurred by Landlord in such year in excess of the Operating Expenses for the Base Year 2026 (“Operating Expense Rent”).
Accordingly, as set forth in Section 4.2 above, Direct Expenses (which consists of Operating Expenses and Tax Expenses) are determined annually for the Project as a whole, and a portion of the Direct Expenses, which portion shall be determined by Landlord on an equitable basis, shall be allocated to the tenants of the Building (as opposed to the tenants of any other buildings in the Project) and such portion shall be the Building Direct Expenses for purposes of this Lease.
More Definitions of Operating Expenses
Operating Expenses means (i) all of Landlord's costs and expenses of management, operation, repair and maintenance of the Building (including the Building's parking structure) as determined by Landlord in accordance with generally accepted accounting principles or other recognized accounting principles, consistently applied, including, without limitation, (1) wages, salaries and payroll burden of employees, (2) management fees, (3) janitorial, maintenance, guard and other services, (4) Building office rent or rental value, (5) power, water, waste disposal and other utilities; (6) materials and supplies, (7) maintenance and repairs, (8) insurance premiums and the deductible portion of any insured loss, and (9) depreciation on personal property; (ii) costs, or a portion thereof, properly allocable to the Building of any capital improvements made to the Building by Landlord which comprise labor-saving devices or other equipment intended to improve the operating efficiency of any system within the Building (such as an energy management computer system); and (iii) costs properly allocable to the Building of any capital improvements made to the Building by Landlord that are required under any governmental law or regulation that was not applicable to the Building at the Commencement Date, or that are reasonably required for the health and safety of tenants in the Building, the costs, or allocable portion thereof, to be amortized over such reasonable period as Landlord shall determine, together with interest upon the unamortized balance at the Interest Rate or such higher rate as may have been paid by Landlord on funds borrowed for the purpose of constructing the capital improvements. If Landlord elects to self-insure or includes the Building under blanket insurance policies covering multiple properties, then the term "Operating Expenses" shall include the portion of the cost of such self-insurance or blanket insurance allocated by Landlord to this Building. If less than ninety five percent (95%) of the rentable area of the Building is occupied, Operating Expenses shall be adjusted to equal Landlord's reasonable estimate of Operating Expenses if ninety five percent (95%) of the total rentable area of the Building were occupied. Operating Expenses shall not include: Real Property Taxes; depreciation on the Building other than depreciation on exterior window draperies provided by Landlord and carpeting in the Common Areas; costs of tenant improvements; real estate brokers' commissions...
Operating Expenses shall not include the following: (a) any capital improvement (in accordance with generally accepted accounting principals) to the Premises and/or the Building except as may be required by a governmental authority; (b) repairs, restoration or other work occasioned by casualty; (c) taxes of Landlord or on Landlord's business, including, without limitation, income, excess profits, capital stock, estate, inheritance, gift, personal property and franchise taxes; (d) expenses (including legal fees) incurred in leasing to or procuring of tenants; (e) leasing commission; (f) advertising expenses; (g) expenses for the renovating of space for new tenant; (h) interest or principal payments on indebtedness of Landlord; (i) costs to correct original construction defects including asbestos abatement or environmental compliance; (j) expenses paid directly by a tenant for any reason, such as excessive utility use; (k) costs exceeding those obtainable through competitive bidding; (1) services or benefits or both provided to some tenants but not to tenant; (m) any suits, fines and the like due to Landlord's violation of any governmental rule or authority; (n) depreciation allowance or expense (unless related to allowable capital items); (o) costs related to a foreclosure of the Building or the Property by a purchaser, mortgagee or seller; (p) executive salaries; (q) any items, costs, or expenses described in this Lease as not being passed through to Tenant; or (r) costs incurred to renovate the Building to comply with the Americans with Disabilities Act. Tenant shall not be responsible for amounts arising out of interest or late charges due to Landlord's failure to make prompt payment of real estate taxes. If during any tax year, including the Base Year, the assessed value of the Property and the Building shall be lower due to the fact that any part of the Building is not occupied or is not completed, the real estate taxes payable or paid shad be deemed to be the amount calculated as though such Building was assessed at completion and 100% occupied. If Landlord contests the assessments and achieves a refund, Tenant's proportionate share of each refund of any tax shall be reimbursed to Tenant by Landlord's separate check.
Operating Expenses shall include:
Operating Expenses means all costs and expenses incurred by the Company, as determined under GAAP, that in any way are related to the operation of the Company or to Company business, including fees paid to the Advisor, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad loan reserves, (v) incentive fees paid in compliance with Section IV.F. of the NASAA Guidelines and (vi) Acquisition Fees, Acquisition Expenses, real estate commissions on the resale of real property, and other expenses connected with the acquisition, disposition, and ownership of real estate interests, loans or other property (other than commissions on the sale of assets other than real property), such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property.
Operating Expenses means the total costs and expenses paid or incurred by Landlord in connection with the ownership, operation, maintenance, management and repair of the Premises, the Building and/or the Project or any part thereof, including, without limitation, all the following items:
Operating Expenses means and include all Project Costs, as defined in Section (g) below, and Property Taxes, as defined in Section (h) below.
Operating Expenses means the reasonable operating expenses of the authority, including without limitation the cost of preparation of accounting and other reports, costs of maintenance of the ratings on the bonds, insurance premiums, and costs of authority meetings or other required activities of the authority, counsel fees, including the fees of the attorney general, and fees and expenses incurred for consultants and fiduciaries and any other costs described in section 4(12).