Basic Operating Costs. (a) Landlord shall arrange for the services and utilities described in Section 9 to be available for use by Tenant.
(b) Tenant shall also pay to Landlord Tenant's Share of Basic Operating Costs, as additional rental, in monthly installments in accordance with Section 5. Beginning on the Commencement Date (which amount will be delivered with the executed Lease, as provided in Section 5), Tenant will pay to Landlord each month on the first day of the month an amount equal to one-twelfth (1/12) of Tenant's Share of Basic Operating Costs for the calendar year in question as reasonably estimated by Landlord, with an adjustment to be made between the parties at a later date as hereinafter provided. [If the Commencement Date is not the first day of a calendar month, Tenant will pay a pro-rated portion of Tenant’s Share of Basic Operating Costs for such partial month with the initial payment. Furthermore,] Landlord may from time to time, but not more than three (3) times during any Lease Year, furnish Tenant with notice of a re-estimation of the amount of Tenant's Share of Basic Operating Costs, and Tenant shall commence paying its re-estimated Tenant's Share of Basic Operating Costs on the first day of the month following receipt of said notice. The failure of Landlord to estimate Basic Operating Costs and xxxx Tenant on a monthly basis shall in no event relieve Tenant of its obligation to pay Tenant's Share of Basic Operating Costs. In the event the Building is not at least ninety-five percent (95%) occupied during any year of the Lease Term (including the calendar year in which the Lease Term commences), the Basic Operating Costs shall be “grossed up” by increasing the variable components of Basic Operating Costs to the amount which Landlord projects would have been incurred had the Building been ninety-five percent (95%) occupied during such year, such amount to be annualized for any partial year.
(c) By April 1 of each calendar year during Tenant's occupancy (including the calendar year following the year in which the Lease Term is terminated), or as soon thereafter as possible, Landlord shall furnish to Tenant a statement of Tenant's Share of Basic Operating Costs (the “Statement”). In the event of an underpayment by Tenant because of any difference between the amount, if any, collected by Landlord from Tenant for the estimated Tenant's Share of Basic Operating Costs and the actual amount of Tenant's Share of Basic Operating Costs, Tenant shall pay the amoun...
Basic Operating Costs. (a) Basic Operating Costs shall mean all expenses and costs (but not specific costs which are separately billed to and paid by particular tenants of the Building) of every kind and nature which Landlord shall pay or become obligated to pay because of or in connection with the management, ownership, maintenance, repair, replacement, preservation and operation of the Leased Premises, the Building, the Project and its supporting facilities directly servicing the Building and/or the Project (determined in accordance with generally accepted accounting principles, consistently applied) including, but not limited to, the following:
(1) Wages, salaries and related expenses and benefits of all on-site and off-site employees and personnel engaged in the operation, maintenance, repair and security of the Project.
(2) Costs of Landlord’s office (including the property management office) to the extent providing for the management of the Project and office operation in the Project, as well as the costs of operation of a room for delivery and distribution of mail to tenants of the Building.
(3) All supplies, materials, equipment and equipment rental used in the operation, maintenance, repair, replacement and preservation of the Project .
(4) Utilities, including water, sewer and power, telephone, communication and cable television facilities, lighting, heating, air conditioning and ventilating the entire Project.
(5) All maintenance, janitorial and service agreements for the Project and the equipment therein, including, without limitation, alarm and/or security service, window cleaning, elevator maintenance, courtyards, sidewalks, landscaping, Building exterior and service areas.
(6) A property management fee in an amount not to exceed five percent (5%) of all gross revenues derived from the Project.
(7) Legal and accounting services for the Project, including the costs of audits by certified public accountants; provided, however, that legal expenses shall not include the cost of lease negotiations, termination of leases, extension of leases or legal costs incurred in proceedings by or against any specific tenant, or for the defense of Landlord’s legal title to the Project.
(8) All insurance premiums and costs, including, but not limited to, the cost of property and liability coverage and rental income and earthquake and flood insurance applicable to tire Project and Landlord’s personal property used in connection therewith, as well as deductible amounts applicable to su...
Basic Operating Costs. Section 3.5(a)(11) of the Lease shall be deleted and replaced with the following:
Basic Operating Costs. In addition to the Base Rent required to be paid hereunder, Tenant shall pay as additional Rent Tenant's Proportionate Share of Basic Operating Charges (such amount to be referred to herein as "Basic Operating Costs"). "Basic Operating Charges" shall mean all expenses and costs of every kind and nature which Landlord shall pay or become obligated to pay, or would be required to pay if the Project were fully occupied because of or in connection with the management, maintenance, preservation and operation of the Project and its supporting facilities servicing the Project (determined in accordance with generally accepted accounting principles, consistently applied as determined by Landlord) including, but not limited to, the following:
Basic Operating Costs. Tenant shall continue paying Basic Operating Costs as provided under the Existing Lease through June 30, 2011. Commencing on July 1, 2011, those items and services listed on Exhibit A attached hereto shall be excluded from the Basic Operating Costs payable by Tenant with respect to the Premises. Also, Landlord shall reimburse Tenant $19,500 each month for the months of May 2011 and June 2011 only for Basic Operating Costs paid by Tenant for the Premises (each, a “Reimbursement Payment”). Landlord shall deliver the first Reimbursement Payment to Tenant on or before June 30, 2011, and shall deliver the second Reimbursement to payment to Tenant on or before July 31, 2011.
Basic Operating Costs. (a) In addition to the Rent referred to in Section 1(c), from and after the Rent Commencement Date Tenant shall also pay Tenant's Share of the Basic Operating Costs. Landlord may, at its option, provide Tenant with a current good faith estimate of Basic Operating Costs, and thereafter Tenant shall pay, as additional rental, in monthly installments in accordance with Section 5, Landlord's reasonable estimate of the Basic Operating Costs for the calendar year in question. The failure of Landlord to estimate Basic Operating Costs and xxxx Tenant on a monthly basis shall in no event relieve Tenant of its obligation to pay Tenant's Share of the Basic Operating Costs.
(b) By June 1 of each calendar year during the Lease Term (including the calendar year following the year in which the Lease Term is terminated), Landlord shall furnish to Tenant a statement of actual Basic Operating Costs for the prior calendar year, and within thirty (30) days thereafter an appropriate adjustment shall be made between Landlord and Tenant to reflect any overpayment or underpayment of Basic Operating Costs for the prior calendar year because of any difference between the amount, if any, collected by Landlord from Tenant for Tenant's Share of Basic Operating Costs and the actual amount of Tenant's
Basic Operating Costs. For the period commencing on the Extension Date and ending on the Extended Termination Date, Tenant shall pay for all additional rent payable under the Lease, including Tenant’s Proportionate Share of Basic Operating Costs, in accordance with the terms of the Lease.
Basic Operating Costs. Limitation on Basic Operating Cost. Notwithstanding anything to the contrary contained above, Basic Operating Costs shall not include any of the --- following:
Basic Operating Costs. (a) Basic Operating Costs shall mean all expenses and costs (but not specific costs which are separately billed to and paid by particular tenants of the Project) of every kind and nature which Landlord shall pay or become obligated to pay because of or in connection with the management, ownership, maintenance, repair, replacement, preservation and operation of the Leased Premises, the Building, the Project and its supporting facilities directly servicing the Building and/or the Project (determined in accordance with generally accepted accounting principles, consistently applied) including, but not limited to, the following:
(1) Fair market wages, salaries and related expenses and benefits of all employees and personnel engaged in the operation, maintenance, repair and security of the Project (prorated based on the percentage of time spent working for the Project) that are normally incurred by owners of Comparable Buildings (as defined in Section 8.1) providing comparable services.
Basic Operating Costs. See Addendum 5 * In the event that the building is not fully occupied during any fiscal year of the Term as determined by Landlord, an adjustment shall be made in computing the Basic Operating Cost for such year so that Basic Operating Cost shall be computed as though the building had been one hundred percent (100%) occupied; provided, however, that in no event shall Landlord be entitled to collect in excess of one hundred percent (100%) of the Total Basic Operating Cost from all of the tenants in the Building including Tenant. All costs and expenses shall be determined in accordance with generally accepted accounting principles which shall be consistently applied. Basic Operating Cost shall not include specific costs incurred for the account of, separately billed to and paid by specific tenants. Notwithstanding anything herein to the contrary, any instance wherein Landlord, at Landlord's fair and reasonable discretion, deems Tenant to be responsible for any amounts greater than its Proportionate Share, Landlord shall have the right to allocate costs in any manner Landlord deems appropriate.