Adjustment for Operating Expenses. (a) Tenant shall pay, as additional rent, Tenant’s Share of Expenses for the Property. For each Fiscal Year during the Term, Tenant’s Share of Expenses shall consist of the sum of (x) the excess of (i) Tenant’s Percentage of the sum of the total Operating Expenses for the Property and the total Taxes for the Property for that Fiscal Year over (ii) the Expense Base, and (y) a commercially reasonable charge for the provision of services to operate the Building during periods other than 8:00 am. to 6:00 pm. on weekdays and 9:00 am. to 1:00 pm. on Saturdays and to operate the Building on holidays (which are all days on which commercial banks in Boston, Massachusetts are authorized or required by law to close) (such periods being referred to herein as “Non-Business Hours”) that are fairly allocable to the Premises, if such services are requested by Tenant or are necessary, in Landlord’s reasonable judgment, for Tenant’s operations during Non-Business Hours. For any partial Fiscal Year at the beginning or end of the Term, Tenant’s Share of Expenses shall be adjusted proportionately for the part of the Fiscal Year falling within the Term. Tenant’s Percentage may be reduced if the Property is changed or reconfigured, but shall in all cases not exceed the percentage that the Rentable Square Feet in the Premises bears to the total rentable square footage in the Property, calculated on a consistent basis. In addition, Tenant shall pay, as additional rent, one hundred percent (100%) of any increase in Taxes not otherwise billed to Tenant which may result from any alteration, addition or improvement to the Premises that is made by or on behalf of Tenant, other than the Leasehold Improvements. Upon request of Tenant, Landlord shall supply to Tenant reasonable evidence of such increase in Taxes which shows that such increase is attributable to Tenant’s alteration, addition or improvement to the Premises.
(b) Before each Fiscal Year, Landlord shall give Tenant a reasonable estimate of the expected Operating Expenses and Taxes for the Property for the coming Fiscal Year (excluding Landlord’s cost for services provided during Non-Business Hours), and a calculation of the estimated amount of Tenant’s Share of Expenses. Tenant shall pay one-twelfth of the estimated amount of Tenant’s Share of Expenses with each monthly payment of Base Rent. After the end of each Fiscal Year, Landlord shall give Tenant a statement (the “Statement”) showing the actual Operating Expenses and Tax...
Adjustment for Operating Expenses. A. Terms used herein are defined as follows:
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Adjustment for Operating Expenses. In each Adjustment Year, Tenant shall pay Tenant’s Proportion of Operating Expenses to the extent the Operating Expenses for such Adjustment Year exceed the Operating Expenses for the applicable Base Year (“Operating Expense Excess”) for the portion of the Premises in question. In the event Landlord estimates (no more than twice per calendar year) that there will be an Operating Expense Excess for any Adjustment Year, then monthly installments of Operating Expenses for such Adjustment Year shall be paid equal to 1/12 of Tenant’s Proportion of such estimated increase. Notwithstanding anything contained herein to the contrary, Tenant shall have no duty to pay Tenant’s Proportion of Operating Expenses, nor shall same accrue, until the twenty-first (21st) month anniversary of the 1st Commencement Date, and Tenant’s obligations for the remainder of such Adjustment Year shall be prorated accordingly.
Adjustment for Operating Expenses. For the purpose of this Section 2.6, tile following terms shall have the following meanings:
A. Real Estate Taxes - real estate taxes levied against the Property, including betterment assessments, so-called rent taxes and other governmental charges, which may be charged, assessed or imposed upon the Property, and reasonable expenses of any proceedings for abatement of taxes. There shall be excluded from Real Estate Taxes income taxes, excess profits taxes, excise taxes, franchise taxes and estate, succession, inheritance and transfer taxes.
B. Building Operation Costs - ail costs and expenses incurred by Landlord in connection with the maintenance and operation of the Property, except for any Office Operation Costs (as defined below). Building Operation Costs shall include without limitation, all costs and expenses incurred by Landlord (a) in making repairs or replacements to tile Building and its parking areas and other appurtenances, (b) in carrying fire, casualty, rent and liability insurance upon and with respect to the Property (including, Without limitation, insurance carried under so-called "blanket" and/or "umbrella" policies, provided however, that only such portion of the premiums for the so-called "blanket" "umbrella" policies as is reasonably and equitably allocable to the Property shall be included in Building Operation Costs), (c) in providing trash pick-up service for the Building, and lighting, plowing, cleaning, maintaining and beautifying the exterior of the Building and the land and parking areas appurtenant to the Building and tile landscaping and gardening (if any) thereof, (d) in paying wages, unemployment taxes and benefits of personnel engaged in the management and operation of the Building (appropriately pro-rated where a person's duties are not limited solely to the Building),
Adjustment for Operating Expenses. If Tenant's proportionate share of the Operating Expenses for any Operating Year (as such terms are defined in subsection 3.2.2(F) hereof) shall be greater than the Operating Expense Allowance, then Tenant shall pay to Landlord as Additional Rent an amount equal to the difference (the amount of such difference is hereinafter referred to as the "Operating Expense Adjustment").
Adjustment for Operating Expenses. The parties agree Tenant shall be obligated to Landlord in the event that Thomxx Xxxx'x xxxre of Operating Expenses pursuant to Section 5.4 of the Lease exceeds the payments actually made by Thomxx Xxxx xxxer the Lease in respect of the period prior to the Effective Date. Accordingly, Landlord shall also remain liable to Tenant in the event it is determined in accordance with Section 5.4 that the payments actually made by Thomxx Xxxx xxxer the Lease in respect of the period prior to the Effective Date exceed Thomxx Xxxx'x Xxxre of such Operating Expenses.
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Adjustment for Operating Expenses. 2.6.1 Operating Expense Cap
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