Actual Operating Costs Clause Samples
The 'Actual Operating Costs' clause defines the specific expenses incurred in the day-to-day operation of a property or business, typically including items such as utilities, maintenance, insurance, and property management fees. This clause outlines which costs are considered legitimate operating expenses and may detail how these costs are calculated or allocated among parties, such as between a landlord and tenant in a commercial lease. Its core practical function is to ensure transparency and fairness in the allocation of operational expenses, preventing disputes by clearly specifying what constitutes reimbursable or shared costs.
Actual Operating Costs. After the close of each Operating Year during the Term, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Costs during the preceding Operating Year. If such costs for any Operating Year exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to Section 5.a, Tenant shall pay the amount of such excess to Landlord as additional rent within thirty (30) days after receipt by Tenant of such statement. If such statement shows such costs to be less than the amount paid by Tenant to Landlord pursuant to Section 5.a, then the amount of such overpayment shall be paid by Landlord to Tenant within thirty (30) days following the date of such statement or credited by Landlord to the payment of rent next due.
Actual Operating Costs. Within ninety (90) days after the close of each Lease Year during the term hereof, Landlord shall deliver to Tenant a written statement setting forth the actual Operating Costs during the preceding Lease Year. If such costs for any Lease Year exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to paragraph 7(b)(1) for such Lease Year, Tenant shall pay the amount of such excess to Landlord as additional rent within thirty (30) days after receipt of such statement by Tenant. If such statement shows such costs to be less than the amount paid by Tenant to Landlord pursuant to paragraph 7(b)(1), then the amount of such overpayment shall be credited toward the next monthly rent payable by Tenant.
Actual Operating Costs. All costs incurred or to be incurred by Landlord for any given calendar year in connection with the management, operation, safety, security, replacement, and maintenance of the Building, the Land, the Common Areas, and all other improvements on the Land; as more fully defined in Exhibit C attached hereto.
Actual Operating Costs. Within ninety (90) days after the close of each Expense Year during the term hereof, Landlord shall endeavor to deliver to Tenant a written statement (a “Statement”) setting forth the actual Operating Expenses during the preceding Expense Year (“Actual Operating Expenses”). If such costs for any Expense Year exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to Section 9(b)(1) for such Expense Year, Tenant shall pay the amount of such excess to Landlord as Additional Rent within thirty (30) days after receipt of such Statement by Tenant. If such Statement shows such costs to be less than the amount paid by Tenant to Landlord pursuant to Section 9(b)(1), then the amount of such overpayment shall be credited toward the next monthly rent payable by Tenant or, if this Lease has terminated, shall be paid to Tenant concurrently with Landlord’s delivery of such Statement.
Actual Operating Costs. For purposes of this Agreement, "Actual ---------------------- Operating Costs" means all costs or expenses reasonably and actually incurred by ▇▇▇▇▇▇ in the conduct of the Business during 1998 or by ▇▇▇▇▇▇▇, ▇▇▇▇▇ in connection with Maggie's operations during 1998, including, without limitation, costs or expenses related to the day-to-day upkeep, normal maintenance, insurance and taxes for the Site, but excluding extraordinary repairs or replacement to the walls or structural components of the improvements on the Site, plus any and all costs and expenses, including any employment bonuses, paid by ▇▇▇▇▇▇▇, ▇▇▇▇▇ to or on behalf of the Operations Manager in connection with his employment. B.
Actual Operating Costs. Within ninety (90) days after the end of each year or as soon thereafter as practicable, Landlord shall deliver to Tenant a written statement setting forth Tenant's Pro Rata Share of the actual Operating Costs and Taxes in excess of the Base Amount during the preceding year. If the actual Operating Costs and Taxes in excess of the Base Amount exceed the estimates for such amounts paid by Tenant during the year, Tenant shall pay the amount of such excess to Landlord as Additional Rent within thirty (30) days after receipt of such statement. If the actual Operating Costs and Taxes in excess of the Base Amount are less than the amount paid by Tenant to Landlord, then the amount of such overpayment by Tenant shall be credited against the next Additional Rent payable by Tenant hereunder.
Actual Operating Costs. Within one hundred fifty (150) days of the close of each Operating Year (except the Base Year) during the Term, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Costs during the preceding Operating Year. If the Actual Operating Costs for any Operating Year (except the Base Year) exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to Section 6.b, then Tenant shall pay the amount of this excess to Landlord as additional rent within thirty (30) days after receipt by Tenant of the Actual Operating Costs statement. If the statement shows the Actual Operating Costs to be less than the amount paid by Tenant to Landlord pursuant to Section 6.b, then the amount of Tenant's overpayment shall be paid by Landlord to Tenant within thirty (30) days following the date of the statement or, at Landlord's option, credited by Landlord to the payment of Rent next due.
Actual Operating Costs. After the close of each Operating Year (except ---------------------- the Base Year) during the Term, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Costs during the preceding Operating Year. If such costs for any Operating Year exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to Section 5.a, Tenant shall ----------- pay the amount of such excess to Landlord as additional rent within thirty (30) days after receipt by Tenant of such statement. If such statement shows such costs to be less than the amount paid by Tenant to Landlord pursuant to Section ------- 5.a, then the amount of such overpayment shall be paid by Landlord to Tenant --- within thirty (30) days following the date of such statement or, at Tenant's election, credited by Landlord to the payment of rent next due.
Actual Operating Costs. The determination of Operating Costs Allocable to the Premises shall be made by Landlord. Within ninety (90) calendar days after the close of each Year, Landlord shall deliver to Tenant a written statement setting forth the actual Operating Costs Allocable to the Premises during the preceding Year. If such actual Operating Costs Allocable to the Premises for any Year exceed the Estimated Operating Costs Allocable to the Premises paid by Tenant to Landlord pursuant to subparagraph 3.4.1 for such Year, Tenant shall pay the amount of such excess to Landlord within twenty (20) Business Days after receipt of such statement by Tenant. If such statement shows the actual Operating Costs Allocable to the Premises to be less than the Estimated Operating Costs Allocable to the Premises paid by Tenant to Landlord pursuant to subparagraph 3.4.1, then the amount of such overpayment shall be paid by Landlord to Tenant within twenty (20) Business Days following the date of such statement or, at Landlord’s option other than during the last Lease Year, shall be credited towards the installment(s) of Additional Rent next coming due from Tenant.
Actual Operating Costs. 20.4.1 The Borrower shall provide the Technical Adviser with details of amounts which are to be claimed as Actual Operating Costs (including any supporting information reasonably requested by the Technical Adviser):
(a) on the last Banking Day of the sixth month after the Initial Charter Hire Date and then on the last Banking Day of every subsequent period of six (6) months occurring within the Security Period; and
(b) following a request by the Facility Agent (acting reasonably) prior to a distribution being made under clause 5.2.8 of the Deed of Proceeds and Priorities.
20.4.2 The Facility Agent shall request that the Technical Adviser promptly reviews the details provided pursuant to clause 20.4.1 and confirms to the Facility Agent whether the amount claimed in relation to Actual Operating Costs is equal to the actual amount of Actual Operating Costs.
21.1 Law