Base Year for Operating Expenses. With respect to calculating Tenant’s Proportionate Share of Operating Expenses, the term “Base Year” shall mean the twelve-month period beginning on January 1, 2014 and ending on December 31, 2014.
Base Year for Operating Expenses. The Base Year for calculation of -------------------------------- Operating Expenses shall be Calendar Year 1997.
Base Year for Operating Expenses. Effective as of the Relocation Date and only as it relates to the period from and after such date, the term “Base Year” as defined in Section 6 of the Addendum Number Two shall be the calendar year 2016.
Base Year for Operating Expenses. Effective as of the Suite 250 Expansion Date and only as it relates to the period from and after such date, the term “Base Year” as defined in Section 6 of the Addendum Number Two, as amended, as it applies to the Premises (including Existing Premises, and the applicable Expansion Premises) shall be the calendar year 2018.
Base Year for Operating Expenses. Calendar year 2016 (See Paragraph 3) Base Year for Real Estate Taxes: Calendar Year 2016 (See Paragraph 3)
Base Year for Operating Expenses. For purposes of calculating Tenant's -------------------------------- Share of Excess Operating Expenses, a Base Year of 1996 will be used for the Initial Leased Premises and a Base Year of 1997 will be used for the Expansion Space.
Base Year for Operating Expenses. The Base Year for Operating Expenses for each Suite shall be calendar year 2012.
Base Year for Operating Expenses. As of May 1, 2004, the Base Year for Operating Expenses shall be the calendar year of 2005. A calendar year of operating expenses shall be the actual operating expenses incurred during any calendar year of January 1 through December 31.
Base Year for Operating Expenses. Effective as of the Effective Date, (a) the Base Year will be calendar year 2011 with respect to Operating Expenses during calendar year 2011; and (b) the Base Year will be calendar year 2012 with respect to Operating Expenses during and after calendar year 2012. Anything in the Lease to the contrary notwithstanding, if the Project is not fully assessed for real estate tax purposes during the applicable Base Year as a result of a temporary reduction in assessed value pursuant to Proposition 8, as adopted by the voters of the State of California and as amended from time to time (“Temporary Reduction”), and Real Property Taxes and Assessments increase in any subsequent years as a result of the partial or complete elimination of the Temporary Reduction during the Base Year, then any increases in Tenant's Proportionate Share of Operating Expenses, to the extent that such increases are due solely to the partial or complete reduction of the Temporary Reduction, shall be limited to 4% per annum, on a cumulative basis; provided, however, that the foregoing limitations in connection with any Temporary Reduction will not, in any way whatsoever, either limit or affect (i) the statutory 2% per annum increase in Real Property Taxes and Assessments (as such statutory increase may be modified by subsequent legislation), or (ii) increases in Real Property Taxes and Assessments pursuant to the terms of Proposition 13, as adopted by the voters of the State of California and as amended from time to time (whether due to a reassessment of the Project based on a change of ownership or other triggering event thereunder); and provided further, however, that (i) any costs and expenses incurred by Landlord in securing any Temporary Reduction shall not be deducted from Real Property Taxes and Assessments for the Base Year, and (ii) refunds of Real Property Taxes and Assessments under Proposition 8 shall not be deducted from Real Property Taxes and Assessments for the Base Year, but shall be the sole property of Landlord.
Base Year for Operating Expenses. The Base Year for Operating Expenses shall be calendar year 2010. Section 9.1 of the Lease, is modified as follows: The definition of “Operating Expenses” as originally set forth therein shall now be modified to include the following: There shall be no escalation charges for the first twelve months of the Term and the Base Year shall be calculated on a full twelve month period, with such calculation reflecting a fully occupied building. It is also understood that the management fee previously allowed shall now be more specifically defined by including the following: Operating Expenses shall include a management fee equal to the amounts customarily charged by professional property management firms providing a similar level of service in similar properties in the same rental market. As a part of its portfolio optimization plan, Landlord reevaluates and competitively bids its contracts at approximately thirty six month intervals.
