Annual Operating Expenses. Tenant’s Share of Annual Operating Expenses applicable to the Premises shall continue to be paid by Tenant, in addition to the Minimum Annual Rent, subject to adjustment and reconciliation and in accordance with the terms and conditions of the Lease. For the calendar year 2018, Landlord projects Annual Operating Expenses for the Premises to be $4.85 per rentable square foot.
Annual Operating Expenses. (As a percentage of average net assets) Management Fee (after waiver)(2).............................................................. 0.00% 12b-1 Fee(3).................................................................................. 0.00% Total Other Expenses.......................................................................... 1.97% Shareholder Services Fee......................................................... 0.25% Total Operating Expenses(4)......................................................
Annual Operating Expenses. Tenant shall continue to pay Annual Operating Expenses and monthly installments on account of estimated Annual Operating Expenses based on Tenant’s Share, which shall be subject to reconciliation and adjustment as provided in Section 6 of the Lease (currently estimated to be $2,591.85 per month).
Annual Operating Expenses. (a) Lessee shall pay for its "Pro Rata Share" (as defined below) of the Annual Operating Expenses. Except as otherwise provided in this Lease, "Annual Operating Expenses" include but are not limited to, (i) all real estate taxes and assessments with respect to the Building and Property in which the Lease Premises is located (including any assessments for the West Xxxxxxx Business Improvement District (BID)), (ii) maintenance and repairs for the Building, including painting; interior and exterior repairs; roof repairs but not roof replacement; building maintenance (provided, however, that, because Lessee is to provide its own janitorial and cleaning services, the costs of janitorial and cleaning services provided to tenants shall be deducted from "Annual Operating Expenses" before calculating Lessee's Pro Rate Share thereof); (iii) service contracts; (iv) insurance; (v) utilities, including water and sewer not separately metered to the Leased Premises; (vi) Lessor's building insurance costs; and (vii) administrative expenses not to exceed five percent (5%) of the total Annual Operating Expenses as budgeted by Lessor for the Building in which the Leased Premises is located. Payments due under this Section 5 shall be paid the first (1st) day of each month in addition to Lessee's payment of rent. Lessee shall pay monthly to Lessor its Pro Rata Share of 1/12th of Annual Operating Expenses. Prior to the commencement of each calendar year of the Term, Lessor shall notify Lessee of each such year's budgeted amount for Annual Operating Expenses and Lessee shall increase or decrease its monthly payment to equal 1/12th of such amount. The failure of Lessor to so notify Lessee shall not relieve Lessee of its obligations to pay any increased Annual Operating Expenses upon receipt of such notice. Lessor's Annual Operating Expense budget shall be based on the prior calendar year's actual expenses. At the end of each calendar year, Lessee shall pay to Lessor any deficiency between the actual and budgeted Annual Operating Expenses for such year and Lessee shall receive a credit towards the following year's Annual Operating Expenses for any surplus.
Annual Operating Expenses. Tenant shall pay Annual Operating Expenses and monthly installments on account of estimated Annual Operating Expenses for the entire Premises (including the Additional Premises) based on Tenant’s Share, as amended pursuant to Section 1 of this Amendment, which shall be subject to reconciliation and adjustment as provided in Section 6 of the Lease. With respect to the Additional Premises only, Annual Operating Expenses for the Additional Premises for 2014 are estimated to be $22,283.08, payable in equal monthly installments of $1,856.92.
Annual Operating Expenses. Tenant shall continue to pay Annual Operating Expenses, which shall be subject to reconciliation and adjustment as provided in Section 6 of the Lease, based on Tenant’s Share. As provided in the Lease, Tenant shall pay for all utilities supplied to or consumed in or on the Premises, including not but limited to electricity. For the year 2015, Annual Operating Expenses (net of electric) are estimated to be $5.50 per rentable square foot, which includes full service tenant services for interior and exterior, as well as preventative maintenance for all exhaust, heating and cooling equipment (the “Equipment”) in the Premises. In the event that the Equipment must be replaced by Landlord during the Term of the Lease, the cost (including reasonable finance charges) of such replacement shall be amortized over the estimated useful life of such Equipment and passed through to Tenant on a yearly basis as part of Tenant’s Operating Expenses.
Annual Operating Expenses. Lessee shall pay the “Additional Premises Pro Rata Share” of Annual Operating Expense at the same times and in the same manner as Lessee pays the “Pro Rata Share” under the Original Lease. However, the “Additional Premises Pro Rata Share” shall, for purposes of this Addendum and the Additional Leased Premises, be an amount each period equal to the sum of:
Annual Operating Expenses. Tenant’s proportionate share of all Operating Expenses (as hereinafter defined) in excess of Operating Expenses for the Base Year (as hereinafter defined).
Annual Operating Expenses. (i) Landlord’s good faith estimate of annual payments of Operating Expenses (as defined below) applicable to the Initial Premises (“Initial Premises Annual Operating Expenses”) for the Lease Year (as defined below) of Year One is Six and 45/100 Dollars ($6.45) per rentable square foot of the Initial Premises, which amount includes the expenses and charges set forth in Section 6(b) below. Accordingly, from and after the Initial Premises Commencement Date, during Year One, Initial Premises Annual Operating Expenses are expected to be, based on the above estimate, Twenty-Seven Thousand One Hundred Twenty-Eight and 70/100 Dollars ($27,128.70), payable in equal monthly installments of Two Thousand Two Hundred Sixty and 73/100 Dollars ($2,260.73). All of the amounts set forth above in this Section 1(g)(i) are and shall be subject to adjustment and reconciliation as provided in this Lease.
(ii) Landlord’s good faith estimate of annual payments of Operating Expenses applicable to the Expansion Premises (“Expansion Premises Annual Operating Expenses”) for Year One is Six and 45/100 Dollars ($6.45) per rentable square foot of the Expansion Premises, which amount includes the expenses and charges set forth in Section 6(b) below. Accordingly, from and after the Expansion Premises Commencement Date, during Year One, Expansion Premises Annual Operating Expenses are expected to be, based on the above estimate, Seventy-Eight Thousand Six Hundred Fifty-Seven and 75/100 Dollars ($78,657.75), payable in equal monthly installments of Six Thousand Five Hundred Fifty-Four and 81/100 Dollars ($6,554.81). All of the amounts set forth above in this Section 1(g)(ii) are and shall be subject to adjustment and reconciliation as provided in this Lease.
(iii) For purposes of this Lease, for the period from the Initial Premises Commencement Date to and including the day immediately preceding the Expansion Premises Commencement Date, the term “Annual Operating Expenses” as used herein shall mean and include only the Initial Premises Annual Operating Expenses. From and after the occurrence of the Expansion Premises Commencement Date, the term “Annual Operating Expenses” as used herein shall mean and include both the Initial Premises Annual Operating Expenses and the Expansion Premises Annual Operating Expenses.
Annual Operating Expenses. Section 1(h) of the Lease is hereby deleted in its entirety and replaced with the following:
