Base Year Operating Expenses Sample Clauses
Base Year Operating Expenses. The total amount of Operating Expenses for the calendar year January 1, 2004 to December 31, 2004.
Base Year Operating Expenses. Operating Expenses incurred during the Base Year, provided that: (1) in the event that the Building is less than 100% occupied during the Base Year, then in determining the Base Year Operating Expenses, all Operating Expenses that may reasonably be determined to vary in accordance with the occupancy level of the Building, shall be grossed up to reflect 95% occupancy by multiplying the amount of such expenses by a fraction, the numerator of which is the total rentable square feet in the Building and the denominator of which is the average square feet in the Building that is occupied by tenants during the Base Year; and (2) if any extraordinary expenses are incurred during the Base Year which typically are not operations, maintenance, or repair costs of a stabilized property, as reasonably estimated by Landlord, then such expenses shall be excluded from the calculation of Operating Expenses during the Base Year.
Base Year Operating Expenses. Tenant shall receive a 1999 Base Year for the Expansion Premises (Suites K105, K120 and K140) as well as Suites K124 and K152 and shall continue to receive a 1998 Base Year for the remainder of the leased Premises (Suites K112, K114, K190, K192 and K195) in determining the Tenant's responsibility regarding its prorata share of Operating Expenses that exceed the actual operating costs of the Building incurred in the calendar year as Additional Rents. This prorata share is subject to adjustment from time to time to reflect any changes in the size of the (a) Premises or (b) any correction in the net rentable area of the Building from a measurement that Landlord may cause to be made.
Base Year Operating Expenses. “Base Year Operating Expenses” shall be defined as all reasonable costs and expenses, without duplication, paid or incurred by Landlord in Calendar Year 1995, i.e. the Operating Expense Base Year, in the reasonable exercise of Landlord's business judgment with respect to the following:
I. Items included in Operating Expenses
(1) Labor costs [including salaries, wages, medical, surgical and general welfare benefits (including group life and medical insurance) and pension payments, payroll taxes, Workmen’s Compensation, Union Benefits paid by employer, unemployment insurance, social security and other similar taxes] for the services of the following classes of employees performing services required in connection with the operation, repair and maintenance of the Building:
(i) the Building manager who works full or part time (if part time the allocable labor costs to the Building) on the Building.
(ii) engineers, mechanics, electricians, plumbers, porters, janitors and other employees engaged on a full or part-time basis in the actual operation, repair and maintenance of any part of the Building, including cleaning, and the heating, air conditioning, ventilating, plumbing, electrical and elevator systems of the Building; provided that in the case of such part-time employees only the costs attributable to the Building shall be included.
(2) (i) The competitive cost of materials and supplies used in the operation, repair and maintenance of the Building including painting of the Demised Premises and removal of graffiti, and including cleaning, and the real property on which it is located.
Base Year Operating Expenses. The Expense Adjustment Amount with respect to each Calendar Year shall be paid in monthly installments, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant, which estimate may be revised to reflect, without limitation, increases in Taxes during any period. Landlord shall cause to be kept books and records showing Operating Expenses in accordance with an appropriate system of accounts and accounting practices consistently maintained. Following the close of each Calendar Year, Landlord shall cause the amount of the Expense Adjustment Amount for such Calendar Year to be computed based on Operating Expenses for such Calendar Year and Landlord shall deliver to Tenant a statement of such amount and Tenant shall pay any deficiency to Landlord as shown by such statement within thirty (30) days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Calendar Year exceed the actual Expense Adjustment Amount due from Tenant for such Calendar Year, at Landlord's option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder. Delay in computation of the Expense Adjustment Amount or failure to deliver a statement of such amount shall not be deemed a default hereunder or a waiver of Landlord's right to collect the Expense Adjustment Amount, but Tenant shall have no obligation to make a payment of the Expense Adjustment Amount for a particular year until Landlord shall have delivered the statement with respect to such year. In computing the Expense Adjustment Amount, the following provisions relating to Taxes shall be applicable: The amount of any refund of Taxes received by Landlord shall be credited against Taxes for the Calendar Year in which such refund is received; provided, however, that in the event Landlord receives a refund of Taxes after the termination date (as the same may be accelerated or extended as provided elsewhere in this Lease) which refund relates to a Calendar Year during the Term hereof, the amount of such refund fairly allocable to Tenant shall be refunded to Tenant by Landlord (net of Tenant's allocated share of the cost of obtaining such refund and the cost, if any, of making such refund); and further provided that if Tenant expands into space formerly occupied by other tenants, which expansion space becomes subject to this Lease, Tenant shall not be entitled...
Base Year Operating Expenses. Base Year Operating Expenses" ---------------------------- shall mean the actual Operating Expenses for the Base Year set forth in Subsection 1(u).
Base Year Operating Expenses. Landlord and Tenant acknowledge ---------------------------- that the Estimated First Year Operating Expenses reflect only an estimate of Operating Expenses based on Landlord's experience in developing, owning and managing similar buildings. Therefore, at the end of the First Lease Year, Landlord shall calculate actual Operating Expenses for the First Lease Year and those expenses, subject to the adjustments set forth below, collectively shall be deemed the "Base Year Operating Expenses".
Base Year Operating Expenses. “Base Year Operating Expenses” shall be defined as all reasonable costs and expenses, without duplication, paid or incurred by Landlord in Calendar Year 1995, i.e. the Operating Expense Base Year, in the reasonable exercise of Landlord’s business judgment with respect to the following:
I. Items included in Operating Expenses
(1) Labor costs [including salaries, wages, medical, surgical and general welfare benefits (including group life and medical insurance) and pension payments, payroll taxes, Workmen’s Compensation, Union Benefits paid by employer, unemployment insurance, social security and other similar taxes] for the services of the following classes of employees performing services required in connection with the operation, repair and maintenance of the Building:
(i) the Building manager who works full or part time (if part time the allocable labor costs to the Building) on the Building.
(ii) engineers, mechanics, electricians, plumbers, porters, janitors and other employees engaged on a full or part-time basis in the actual operation, repair and maintenance of any part of the Building, including cleaning, and the heating, air conditioning, ventilating, plumbing, electrical and elevator systems of the Building; provided that in the case of such part-time employees only the costs attributable to the Building shall be included.
(i) The competitive cost of materials and supplies used in the operation, repair and maintenance of the Building including painting of the Demised Premises and removal of graffiti, and including cleaning, and the real property on which it is located.
(ii) The competitive cost of independent contractors performing services required for the repair, operation and maintenance of the Building including extermination services once each month, including cleaning.
(iii) The costs of electricity and all other utilities for the common areas of the Building.
(3) The cost of casualty (war-risks if obtainable), workers compensation and property damage insurance;
(4) Management fees, provided that said management fee shall be no higher than that which is ordinary and customary in the real estate management industry in New York City.
(5) Repairs or replacements made to the Building and the Demised Premises by Landlord, at its expense, subject to those items contained in exclusions #2,9,10,12,13,14, and 17 of Article 5(A. 1.)(II); and
(6) Straight line depreciation or amortization over a ten (10) year period (including interest at the rate of t...
Base Year Operating Expenses. (a) Effective December 1, 2007: (a) Paragraph 1(n) of the Lease is hereby amended by deleting “2002” and substituting “2008” in place thereof as the Base Year in effect under the Lease from and after December 1, 2007; and (b) Section 4 of the First Amendment is hereby deleted in its entirety.
(b) For the period from January 1, 2007 through November 30, 2007, the amount payable by Tenant pursuant to the Lease in respect of Tenant’s Percentage of Operating Expenses shall be determined as originally provided in the Lease (without reference to the amendment made pursuant to subsection (a) above), in the same manner as if the last day of the Term were November 30, 2007. Tenant shall not be required to pay any amount in respect of Tenant’s Percentage of Operating Expenses for the period from December 1, 2007 through December 31, 2008 (other than the Operating Expense Allowance included in Monthly Base Rent).
(c) Notwithstanding anything to the contrary contained in the Lease, with regard to the aggregate amount included in Operating Expenses excluding insurance, utilities, taxes and security expenditures (with such exclusions, the “Capped Expenses”), for purposes of determining the amount payable by Tenant in respect of Tenant’s Percentage of Capped Expenses, in no event shall the amount of the Capped Expenses for any calendar year following the Base Year be increased by more than five percent (5%) per year on a cumulative basis, as provided below. Accordingly, for 2009 and each subsequent calendar year of the Term, the amount of the Capped Expenses shall in no event be greater the Capped Expenses for the 2008 calendar year (the “Initial Amount”) multiplied by a number of factors of 1.05 equal to the number of calendar years from 2008 to the year for which Capped Expenses are being determined. For example, the amount of the Capped Expenses used in calculating Tenant’s Percentage shall not be greater than the following amounts: in 2009, the Initial Amount times 1.05; in 2010, the Initial Amount times 1.05 times 1.05; in 2011, the Initial Amount times 1.05 times 1.05 times 1.05; etc.
Base Year Operating Expenses. Tenant shall continue to receive a 1998 Base Year in determining the Tenant's responsibility regarding its prorata share of Operating Expenses that exceed the actual operating costs of the Building incurred in the calendar year as Additional Rent. This prorata share Is subject to adjustment from time to time to reflect any changes in the size of the (a) Premises or (b) any correction in the net rentable area of the Building from a measurement that Landlord may cause to be made.