Adjustment of Operating Costs Sample Clauses

Adjustment of Operating Costs. Notwithstanding anything herein contained to the contrary, if at any time during the Term, the Development is not one hundred percent (100%) occupied and operational, the Landlord shall have the right to increase those items of Operating Costs which vary with the extent of the occupancy or use of the rentable premises in the Development (including, without limitation, cleaning costs, supplies, utility costs and garbage removal) to such an amount as, in the reasonable estimation of the Landlord, would have been incurred if the Development were one hundred percent (100%) occupied and operational and the amount of such increase shall be included in Operating Costs.
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Adjustment of Operating Costs. In computing Operating Costs, if less than one hundred percent (100%) of the Rentable Area of the Building is completed or occupied during any period for which a computation must be made, the items of Operating Costs which vary with the extent of the occupancy percentage and/or use of leasable premises in the Building, (including without limitation, cleaning costs, refuse removal costs and utilities costs) shall be increased to such an amount as, in the reasonable estimate of the Landlord, would be incurred if one hundred percent (100%) of the Rentable Area of the Building was occupied during that period. Such adjustment shall not increase the Tenant’s Proportionate Share of Operating Costs.
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Adjustment of Operating Costs. In computing Operating Costs, if less than one hundred percent (100%) of the Rentable Area of the Building is completed or occupied during any period for which a computation must be made the amount of Operating Costs will be increased by the amount of the additional costs determined by the Landlord, acting reasonably, that would have been incurred had one hundred percent (100%) of the Rentable Area of the Building been completed or occupied during that period. In addition, if the Landlord enters into agreements with any tenants of the Building whereby such tenants perform any cleaning, maintenance or other work or services the cost of which, but for such agreement with the Landlord, would have been incurred by the Landlord directly and included in Operating Costs, the Landlord in computing Operating Costs may include a reasonable amount determined by the Landlord from time to time of such costs to the extent that the Landlord's costs for cleaning, maintenance and similar services for the Building as a whole are not proportionally reduced by such arrangements with tenants.
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Adjustment of Operating Costs. (a) Where Landlord determines, acting reasonably but in its sole discretion, that any items(s) of Operating Costs are provided only to or for the benefit of a portion of the Building, then Landlord shall be entitled, but not obligated, to allocate the cost of those item(s) over such portion of the Building and adjust Tenant’s Operating Cost payment based on such allocation; (b) if the Building is comprised of different categories of leaseable premises, Landlord shall be entitled, but not obligated, to allocate Operating Costs among the various categories on the basis of such factors as Landlord determines to be relevant and to adjust Tenant’s Operating Cost payment based on such allocation; and (c) if any facilities, services or utilities: (i) for the operation, administration, management, repair and maintenance of the Building are provided from another building or other buildings owned or operated by Landlord or its manager; (ii) for the operation, administration, management, repair and maintenance of another building or other buildings owned or operated by Landlord or its manager are provided from the Building; or (iii) are otherwise shared between the Building and another building or other buildings, the costs, charges and expenses of such items shall be allocated by Landlord, between the Building and other building or buildings on an equitable basis.
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Adjustment of Operating Costs. Operating Costs shall be adjusted as follows:
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Adjustment of Operating Costs. Notwithstanding paragraph 3(c) above, in computing Operating Costs: (i) where the Landlord determines, acting reasonably but in its sole discretion, that any item(s) of Operating Costs are provided only to or for the benefit of a portion of the Building, then the Landlord shall be entitled, but not obligated, to allocate the cost of those item(s) over such portion of the Building and adjust the Tenant's Operating Cost payment based on such allocation; (ii) if the Building is comprised of different categories of leaseable premises, the Landlord shall be entitled, but not obligated, to allocate Operating Costs among the various categories on the basis of such factors as the Landlord determines to be relevant and to adjust the Tenant's Operating Cost payment based on such allocation; and (iii) those items of Operating Costs which vary with the use and occupancy of rentable premises in the Building shall be adjusted and calculated as if the Building were one hundred percent (100%) occupied and operational for the entire operating year so that those items of Operating Costs shall be adjusted to what they would have been in the Landlord's reasonable estimation if the Building were one hundred percent (100%) occupied and operational for the entire operating year.
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Adjustment of Operating Costs. Notwithstanding any contrary provisions of this Lease, if, at any time during an Accounting Period, the Project is not one hundred percent (100%) occupied and operational, the Landlord shall have the right to increase those items of Operating Costs which vary with the extent of the occupancy or use of the rentable premises in the Project (including, without limitation, cleaning costs, supplies and garbage removal) to such an amount, as in the reasonable estimation of the Landlord, would have been incurred if the Project were one hundred percent (100%) occupied and operational for the entire Accounting Period and the amount of such increase shall be included in the Operating Costs. In no event however, shall the Tenant have to pay an amount higher than it would have paid if the Project had been fully occupied and operational.
Sample 1
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Related to Adjustment of Operating Costs

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Definition of Operating Expenses Operating Expenses" shall mean and include all expenses incurred and payable in connection with the ownership, operation, maintenance, repair and management of the Premises and the improvements thereon and, without restricting the generality of the foregoing, shall include:

  • Duration of Operating Expense Limit The Operating Expense Limit with respect to the Fund shall remain in effect during the term of this Agreement.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • Statement of Operations Statement of Changes in Net Assets.

  • Operating Costs (a) Tenant shall maintain the Premises in their condition on the Effective Date at Tenant’s sole cost and expense. Landlord may inspect the Premises and, if Landlord reasonably determines that Tenant is not maintaining the Premises in their condition on the Effective Date, Landlord may provide Tenant with written notice of any such maintenance concern, and Tenant shall promptly make such repairs. If Tenant fails to complete such repairs within thirty (30) days of receipt of such notice, Landlord may undertake such repairs and Tenant shall be obligated to reimburse Landlord for its costs within ten (10) days of receipt of an invoice therefore. Landlord represents and warrants to Tenant that the exterior walls, foundation and roof of the Premises are in good working order on the Effective Date. Landlord will, at its cost, replace, restore, repair or maintain (as necessary) the roof until the first anniversary of the Commencement Date. Landlord will, at its cost, replace, restore, repair or maintain (as necessary) the exterior walls and foundation of the Premises until the fifth anniversary of the Commencement Date. Tenant shall be fully responsible for the replacement, restoration, repair and maintenance of the roof, exterior walls and foundation of the Premises thereafter. If Landlord fails to commence such repairs within thirty (30) days of receipt of any notice from Tenant, Tenant may undertake such repairs and Landlord shall be obligated to reimburse Tenant for its costs within ten (10) days of receipt of an invoice therefore; provided, however, that Tenant shall have no rights to offset or set off any such amounts against the Rent to be paid hereunder. If Landlord does not reimburse Tenant within ten (10) days from the date of notice, such charge shall bear interest at the rate of eighteen percent (18%) per annum until paid. Notwithstanding anything to the contrary herein contained (except for the provisions of paragraph 32 below), if Tenant makes any changes, additions or alterations to the roof of the Premises which involves penetration of the roof (other than those for telecommunications installations so long as the installation contractor has Landlord’s prior written approval which will not be unreasonably conditioned, delayed or denied), Landlord’s obligations to replace, restore, repair or maintain the roof shall cease. If Tenant undertakes any structural repairs in the Premises which impact, affect, or alter the walls or foundation of the Premises, Landlord’s obligation to replace, restore, repair or maintain that portion of the exterior walls and foundation of the Premises shall cease as of the date of such action by Tenant. Any Operating Costs that pertain to a period prior to or after the Lease Term will be pro rated between Landlord and Tenant in the proportion of the amount of the Lease Term that falls within the period to which the Operating Costs pertain. (b) Tenant shall pay all Operating Costs during the Lease Term.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Tax Expenses Tenant shall pay to Landlord Tenant’s Share of all Tax Expenses applicable to the Project. Prior to delinquency, Tenant shall pay any and all taxes and assessments levied upon Tenant’s Property (defined below in Section 10) located or installed in or about the Premises by, or on behalf of Tenant. To the extent any such taxes or assessments are not separately assessed or billed to Tenant, then Tenant shall pay the amount thereof as invoiced by Landlord. Tenant shall also reimburse and pay Landlord, as Additional Rent, within ten (10) days after demand therefor, one hundred percent (100%) of (i) any increase in real property taxes attributable to any and all Alterations (defined below in Section 10), Tenant Improvements, fixtures, equipment or other improvements of any kind whatsoever placed in, on or about the Premises for the benefit of, at the request of, or by Tenant, and (ii) taxes and assessments levied or assessed upon or with respect to the possession, operation, use or occupancy by Tenant of the Premises or any other portion of the Project. “Tax Expenses” means, without limitation, any form of tax and assessment (general, special, supplemental, ordinary or extraordinary), commercial rental tax, payments under any improvement bond or bonds, license fees, license tax, business license fee, rental tax, transaction tax or levy imposed by any authority having the direct or indirect power of tax (including any governmental, school, agricultural, lighting or other improvement district) as against any legal or equitable interest of Landlord in the Premises, Project or Park or any other tax, fee, or excise, however described, including, but not limited to, any tax resulting from the recordation of any parcel or subdivision map with respect to the Park and/or any tax imposed in substitution (partially or totally) of any tax previously included within the definition of Tax Expenses. “Tax Expenses” shall not include (a) any franchise, estate, inheritance, net income, or excess profits tax imposed upon Landlord, (b) any penalty or fee imposed solely as a result of Landlord’s failure to pay Tax Expenses when due, and (c) any items included as Operating Expenses. In the event that a parcel or subdivision map with respect to the Park or a portion of the Park is recorded by Landlord, Tenant’s Share of Tax Expenses shall be commensurately revised to reflect any increases or decreases that may result from the impact of such parcel or subdivision map.

  • PERIOD OF OPERATION Subject to certification, this Agreement shall come into force from the first pay period commencing on or after 1st December 2002 and shall remain in force until 31 October 2005.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

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