Allocation of Operating Expenses. The parties acknowledge that the Building is a part of a multi-building project, and that the costs and expenses incurred in connection with the Complex (i.e., the Operating Expenses) shall be shared between the tenants of the Building and the tenants of the other buildings of the Complex. Accordingly, as set forth above, Operating Expenses are determined annually for the Complex as a whole, and a portion of the Operating Expenses, which portion shall be determined by Landlord on a reasonable and equitable basis, shall be allocated to the tenants of the Building (as opposed to the tenants of such other buildings), and such portion so allocated shall be the amount of Operating Expenses payable with respect to the Building upon which Tenant’s Share shall be calculated. Such portion of the Operating Expenses allocated to the tenants of the Building shall include all Operating Expenses which are attributable solely to the Building, and a reasonable and equitable portion of the Operating Expenses attributable to the Complex as a whole.
Allocation of Operating Expenses. Tax Expenses and Utilities Costs to Building. The parties acknowledge that the Building is a part of a multi-building project, and that the costs and expenses incurred in connection with the Real Property i.e. the Operating Expenses, Tax Expenses and Utilities Costs) should be shared between the tenants of the Building and the tenants of the Adjacent Building. Accordingly, as set forth in Sections 4.1 and 4.2 above, Operating Expenses, Tax Expenses and Utilities Costs are determined annually for the Real Property as a whole. and a portion of the Operating Expenses, Tax Expenses and Utilities Costs, which portion shall be determined by Landlord on an equitable basis, shall be allocated to the Building (as opposed to the Adjacent Building), and such portion so allocated shall be the amount of Operating Expenses, Tax Expenses and Utilities Costs payable with respect to the Building upon which Tenant's Share shall be calculated. Such portion of the Operating Expenses, Tax Expenses and Utilities Costs allocated to the Building shall include all Operating Expenses, Tax Expenses and Utilities Costs which are attributable solely to the Building, and an equitable portion of the Operating Expenses, Tax Expenses and Utilities Costs attributable to the Real Property as a whole. As an example of such allocation with respect to Tax Expenses and Utilities Costs, it is anticipated that Landlord may receive separate tax bills which separately assess the improvements component of Tax Expenses for each building in the Project and/or Landlord may receive separate utilities bills from the utilities companies identifying the Utilities Costs for certain of the utilities costs directly incurred by each such building (as measured by separate meters installed for each such building), and such separately assessed Tax Expenses and separately metered Utilities Costs shall be calculated for and allocated separately to each such applicable building. In addition, in the event Landlord elects, at its sole option, to subdivide certain common area portions of the Real Property such as landscaping, public and private streets, driveways, walkways, courtyards, plazas, transportation facilitation areas, accessways and/or parking areas into a separate parcel or parcels of land (and/or separately convey all or any of such parcels to a common area association to own, operate and/or maintain same), the Operating Expenses, Tax Expenses and Utilities Costs for such common area parcels of land may be ...
Allocation of Operating Expenses. If at any time during the Term -------------------------------- less than ninety-five percent (95%) of the then current Rentable Area of the Building is occupied by tenants, at Landlord's option those components of Operating Expenses which vary with occupancy shall be adjusted to reflect the Operating Expenses as though the Building had been 95% occupied during such period. Such adjustment shall be made on a pro rata basis over the occupied Rentable Area of the Building, based on both the comparative Rentable Areas of the occupied premises and the portion of such Calendar Year during which such premises were occupied. Operating Expenses which do not vary with occupancy, such as public liability insurance, lobby maintenance and heating and air conditioning costs, will continue to be allocated on a pro rata basis over the Rentable Area of the Building whether or not occupied and Tenant shall only be responsible for its Proportionate Share of such Operating Expenses.
Allocation of Operating Expenses. Notwithstanding the allocations set forth in Section 10.1 and 10.2, Operating Expenses for any fiscal year shall be specially allocated Pro Rata to the Partners; provided, however, that, if the General Partner waives any portion of the Management Fee attributable to the General Partner or its Affiliates pursuant to Section 5.2(c) hereof, the General Partner or its Affiliates, as the case may be, will not be allocated any portion of the Management Fee so waived.
Allocation of Operating Expenses. Tenant shall pay as Additional Rent Tenant’s Percentage Share of Project Operating Expenses and Project Common Area Expenses. On an annual basis and from time to time, as described herein, Landlord shall advise Tenant of the estimated Tenant’s Percentage Share of Project Operating Expenses and Project Common Area Expenses for the next relative period. Tenant shall pay in advance in monthly installments the estimated Tenant’s Percentage Share of Operating Expenses and Common Area Expenses. Tenant shall also pay Tenant’s Percentage Share of adjustments to the actual Operating Expenses and actual Common Area Expenses on a quarterly or annual basis (as more fully described below) at Landlord’s option. At any time during the Lease Term, but no later than ten (10) days before the date a rental payment is due, Landlord may deliver to Tenant a written estimate of any increase in Tenant’s Percentage Share of Operating Expenses and Common Area Expenses which may be reasonably anticipated pursuant to this Section 5.1. Tenant shall pay to Landlord the amount of any such estimated increase in equal monthly installments no later than the first day of each month for such full or partial calendar year for which the estimate was made. Statements showing Tenant’s Percentage Share of the actual Operating Expenses and actual Common Area Expenses shall be prepared in reasonable detail and according to Generally Accepted Accounting Principles. Said statements shall be known as “Statements of Actual Adjustment”. Landlord shall deliver such a Statement of Actual Adjustment to Tenant within one hundred twenty (120) days after the end of any calendar year in which additional charges were paid by Tenant under the provisions of this Section 5.1 or, at the option of Landlord, within forty-five (45) days after the expiration of each calendar quarter. Any delays in notifying tenant of such charges shall not waive tenant’s obligation to pay any charges due. Within fifteen (15) days after Landlord delivers to Tenant such Statement of Actual Adjustment, Tenant shall pay to Landlord the amount of any additional charges shown as being due and unpaid on such Statement. If such Statement of Actual Adjustment shows that Tenant paid to Landlord an aggregate amount in excess of the additional charges due for the preceding calendar year, and Tenant is not then in default under this Lease, Landlord shall credit the amount of overpayment against subsequent obligations of Tenant, or shall pay such ex...
Allocation of Operating Expenses. All rents, utility charges, common area maintenance charges, and other similar expenses with respect to the Purchased Assets, if any, shall be apportioned between the Buyer and Seller as of the Closing Date (with Seller being liable for that portion of the period up to and including the day before the Closing Date, and Buyer being liable for that portion of the period on and after the Closing Date). At the Closing, if Seller has prepaid for any portion of such expenses that are allocated to Buyer and were not included in Current Assets for purposes of determining Net Working Capital, Seller shall present a statement to Buyer setting forth the amount of reimbursement to which Seller is entitled under this Section 11.5, together with such supporting evidence as is reasonably necessary to calculate the proration amount, and the Closing Amount shall be adjusted upwards by the amount owed. Following the Closing, if a Party pays any portion of such expenses that are allocated to the other Party and were not included in Net Working Capital, such Party shall present a statement to the other Party setting forth the amount of reimbursement to which such Party is entitled under this Section 11.5, together with such supporting evidence as is reasonably necessary to calculate the proration amount, and the other Party shall pay the amount owed within ten (10) days after delivery of such statement.
Allocation of Operating Expenses. Landlord shall pay that portion of Tenant's Proportionate Share of the Operating Expenses for each year during the term hereof which is equal to the Operating Expenses for Tenant's Base Year. The Basic Rent is established on the basis that Landlord shall pay only such amount in connection with the Operating Expenses and that Tenant will reimburse Landlord to the extent that Tenant's Proportionate Share of the Operating Expenses for any year exceed the Operating Expenses for Tenant's Base Year and on the basis that the Basic Rent shall never be decreased if Tenant's Proportionate Share of the actual Operating Expenses for any year is less than the Operating Expenses for Tenant's Base Year. Therefore, if Tenant's Proportionate Share of the Operating Expenses for any year shall be greater than the Operating Expenses for Tenant's Base Year, then Tenant shall pay as additional rent during such year an amount equal to the difference between Tenant's Proportionate Share of the Operating Expenses for such year and the Operating Expenses for Tenant's Base Year, all in accordance with the provisions of Section 4.2(d).
Allocation of Operating Expenses. TENANT'S RIGHT TO EXAMINE LANDLORD'S BOOKS AND RECORDS..
Allocation of Operating Expenses. If at any time during the Term less than ninety-five percent (95%) of the then current Rentable Area of the office section of the Building is occupied by tenants, at Landlord's option those components of Operating Expenses which vary with occupancy shall be removed from general Operating Expenses and allocated to the portion of the Building which is actually occupied by tenants and generating such components of Operating Expenses. Such special allocation shall be made on a pro rata basis over the occupied Rentable Area in the office section of the Building, based on both the comparative Rentable Areas of the occupied premises and the portion of such Calendar Year during which such premises were occupied. Operating Expenses which do not vary with occupancy, such as (i) public liability insurance, and (ii) maintenance and heating and air conditioning costs for the lobby, will continue to be allocated on a pro rata basis over the Rentable Area of the office section of the Building whether or not occupied and Tenant shall only be responsible for its Proportionate Share of such Operating Expenses.
Allocation of Operating Expenses. The operating costs (as defined in Appendix
i. Revenue from pool usage. (See definitions in Appendix A)
ii. Each District must execute a one time transfer of funds at the rate of $125,000 each at the beginning of the agreement. These funds will be the working cash for the life of the agreement for the Urbana Indoor Aquatic Center. When the partnership terminates, each District will be returned its remaining share of the working cash.
iii. Pro-rata contributions from the two Districts, as necessary, to cover remaining expenses. The pro-rata shares shall be based on a 50/50 split between the Districts, and shall be invoiced no later than June 30 and paid no later than July 31 following the fiscal year in which the operating deficit occurs.
