Adjustment to Operating Expenses Sample Clauses
The Adjustment to Operating Expenses clause allows for modifications to the calculation or allocation of operating expenses under a contract or agreement. Typically, this clause outlines circumstances under which certain costs may be added to or excluded from the operating expenses, such as changes in utility rates, property taxes, or maintenance fees. Its core practical function is to ensure that the allocation of operating expenses remains fair and accurate over time, addressing fluctuations or unforeseen changes that could otherwise create disputes or imbalances between the parties.
Adjustment to Operating Expenses. In determining Operating Expenses for any Operating Year and for the Operating Base Year, if the Building was less than fully occupied during such entire year, or was less than fully operational during such entire year, then Operating Expenses shall be adjusted by Landlord to reflect the amount that such expenses would normally be expected to have been, in the reasonable opinion of Landlord, had the Building been ninety-five percent (95%) occupied and fully operational throughout such year, except that in no event shall such adjustment result in an amount less than the actual Operating Expenses.
Adjustment to Operating Expenses. Notwithstanding anything to the contrary contained in this Paragraph 3, as to each specific category of Operating Expense which one or more tenants of the Building either pays directly to third parties or specifically reimburses to Landlord (for example, separately contracted janitorial services or property taxes directly reimbursed to Landlord), then, on a category by category basis, the amount of Operating Expenses for the affected period shall be adjusted as follows: (1) all such tenant payments with respect to such category of expense and all of Landlord's costs reimbursed thereby shall be excluded from Operating Expenses and Tenant's Building Share, Tenant's Phase Share or Tenant's Project Share, as the case may be, for such category of Operating Expense shall be adjusted by excluding the square footage of all such tenants, and (2) if Tenant pays or directly reimburses Landlord for such category of Operating Expense, such category of Operating Expense shall be excluded from the determination of Operating Expenses for the purposes of this Lease.
Adjustment to Operating Expenses. Notwithstanding anything to the contrary set forth herein, for the purposes of calculating surplus cash, operating expenses shall include: (a) the repayment of operating deficit loans provided by Developer’s limited partner(s) provided such loans bear interest at no more than three percent (3%) in excess of the rate of interest most recently announced by Bank of America, NT & SA (or its successor bank) at its San Francisco office as its "prime rate," (hereafter, the “Interest Rate”), and (b) the amount of any tax credit adjustor that is required to be paid from Project cash flow.
Adjustment to Operating Expenses. In determining Operating Expenses, if less than one hundred (100%) percent of the Building shall have been occupied at any time during the year, Operating Expenses which vary with occupancy levels shall be increased to an amount equal to the like operating expenses which, in Landlord’s reasonable judgment, would normally be expected to be incurred had occupancy been 100% during the entire period.
Adjustment to Operating Expenses. In determining Operating Expenses and Operating Base, if less than one hundred (100%) percent of the Building shall have been occupied at any time during the year, Operating Expenses which vary with occupancy levels (such as cleaning, electricity, and heat) shall be increased proportionately, on an item-by-item basis, to an amount equal to the like operating expenses which, in Landlord’s reasonable judgment, would normally be expected to be incurred had occupancy been 100% during the entire period. In no event, however, shall Landlord ever be entitled to recover from all tenants more than one hundred percent (100%) of the excess of the amount actually paid by Landlord for Operating Expenses for the year in question over the Operating Base.
Adjustment to Operating Expenses. Anything in this Lease to the contrary notwithstanding, Landlord shall have the right to specially assess Tenant a Service Charge for additional services or other items of Operating Expenses (and shall reduce the total of Operating Expenses accordingly) to the extent Tenant's use or consumption thereof due to hours of operation, equipment operated from the Premises, or other reasons, reasonably warrant such assessment. Upon written request by Tenant, Landlord shall provide backup information to support such assessment.