Additional Operating Expenses Clause Samples
Additional Operating Expenses. (a) During a Cash Management Period, in the event that a Borrower incurs or will incur any operating expense, including Emergency Expenditures, that is not in the Approved Annual Budget but is otherwise an Approved Operating Expense (each an “Additional Operating Expense”), then such Borrower shall promptly (but in no event shall such Borrower be required to do so more frequently than monthly) deliver to Lender a reasonably detailed explanation of such Additional Operating Expense(s) or, with respect to any such item that is subject to Lender’s approval, such proposed Additional Operating Expense. Any Additional Operating Expense submitted to Lender (and, if required, approved by Lender) in accordance with this Agreement is referred to herein as an “Approved Additional Operating Expense”.
(b) Any funds distributed to a Borrower for the payment of Approved Additional Operating Expenses (including any distribution to such Borrower pursuant to Section 3.11(a)(vi) hereof) shall be used by such Borrower only to pay for Approved Additional Operating Expenses or reimburse such Borrower for Approved Additional Operating Expenses, as applicable.
Additional Operating Expenses. Section 6.08 is hereby added to the Agreement to read as follows:
Additional Operating Expenses. Upon execution of the Amendment to this Agreement, Purchaser shall pay to Helix the sum of $100,000 to cover costs of operations prior to Closing. If Closing does not take place on or prior to June 1, 2021, Purchaser shall pay to Helix an additional $100,000. Such amounts are not repayable by Helix irrespective of if or when Closing takes place.
Additional Operating Expenses. Additional Operating Expenses" shall be computed separately for each square foot of Net Rentable Area in the Subleased Premises for each calendar year or portion thereof commencing January 1, 1998 through the end of the Sublease Term of this Sublease and, for each such calendar year or portion thereof, shall mean an amount (but not less than zero) per square foot of Net Rentable Area in the Subleased Premises equal to [(i) - (ii)] x (iii), where:
Additional Operating Expenses. Upon the occurrence of a Transition Event, the following costs and expenses shall be included within the definition of Operating Expenses and subject to payment by Tenant as Additional Rent:
(a) MAINTENANCE AND REPAIR (EXCLUDING REPLACEMENTS) OF (I) EXTERIOR WALLS (EXCLUDING EXTERIOR WINDOWS AND DOORS AND RELATED HARDWARE) OF THE BUILDING; AND (II) THE PROPERTY'S STORM WATER SYSTEM;
(b) Fees for management services whether rendered by Landlord (or affiliate) or a third-party property manager in an amount equal to three percent (3%) of the Rent in each Lease Year.
Additional Operating Expenses. Upon execution of the Amendment to this Agreement, Purchaser shall pay to GGC the sum of $100,000 to cover costs of operations prior to Closing. If Closing does not take place on or prior to June 1, 2021, Purchaser shall pay to GGC an additional $100,000. Such amounts are not repayable by GGC irrespective of if or when Closing takes place.