Cap on Controllable Operating Costs. Notwithstanding anything to the contrary herein, Landlord hereby agrees that Tenant’s Pro Rata Share of Operating Costs associated with items included within Operating Costs that are “controllable expenses” shall be limited to an increase of four percent per annum over the actual costs incurred in the 2019 calendar year on a cumulative basis. The parties agree that for purposes of this §4, the term “controllable expenses” shall mean all Operating Costs except utility charges or costs, including, but not limited to those described in §4(a)(iii), above, and any utility taxes which may be imposed on any of the same, insurance costs, taxes, including, but not limited to, real estate taxes, local and/or state surcharges or special charges, private assessments, the costs of snow removal, the costs of any weather-related clean up or damage, which is not an insurable event, or any capital expenditures.
Cap on Controllable Operating Costs. For the purpose of determining the Additional Rent payable by Tenant relative to increases in Operating Costs pursuant to this Section 4.2, aggregate Controllable Operating Costs (as hereinafter defined) for any calendar year during the Lease Term shall not be increased over the amount of aggregate Controllable Operating Costs actually incurred during the Base Year (as same may be “grossed up” pursuant to Section 4.2(b) herein) by more than five percent (5%) per year on a cumulative basis, compounded annually; provided, however, Landlord may carry over any increase in aggregate Controllable Operating Costs exceeding the five percent (5%) threshold for a particular calendar year to apply toward aggregate Controllable Operating Costs in future calendar years of the Lease Term, until fully recovered (assuming such sum can, in fact, be fully recovered prior to the expiration or earlier termination of this Lease). The parties’ understandings and intentions as expressed in this Section 4.2(c) are illustrated on Exhibit D attached hereto and incorporated herein by reference. As used herein, “Controllable Operating Costs” shall be deemed to refer to all Operating Costs except for utility expenses, snow and ice removal expenses, any expenses subject to collective bargaining, insurance premiums and real estate taxes. To avoid any confusion, Business Park Costs shall be deemed Controllable Operating Costs.
Cap on Controllable Operating Costs. Notwithstanding anything to the contrary contained herein, Tenant’s Share of Controllable Operating Costs during the Initial Term and each Extension Period shall not increase by more than five percent (5%) per year on a cumulative, compounding basis over the then-expired portion of the Initial Term or the applicable Extension Period (with the cap resetting on the first day of each Extension Period). “Controllable Operating Costs” shall mean expenses for which Landlord, acting individually, has the ability to control the timing and the price paid through bidding or other procedures. Controllable Operating Costs shall not include Real Property Taxes or any other taxes and assessments, government imposed charges, utility charges, insurance premiums or deductibles, payments that do not recur each year (such as, but not limited to, snow and ice removal), the cost of any contract the price of which is dependent on union labor, management fees that are stated as a percentage of revenue, or amortization of capital items permitted hereunder.
Cap on Controllable Operating Costs. Notwithstanding ----------------------------------- anything to the contrary contained in the Lease, during the Extension Period, the aggregate "Controllable Expenses" (as hereinafter defined) included in Operating Costs in any calendar year of the Extension Period after the 1998 Base Year, shall not increase by more than the lesser of the actual increase in any calendar year or five percent (5%) per year over the actual aggregate Controllable Expenses included in the Base Year but with no such limit on the amount of Controllable Expenses which may be included in the Operating Costs incurred during the Base Year. For purposes of this Paragraph 4(b), "Controllable Expenses" shall mean all Operating Costs except: (i) Taxes and any and all assessments, including assessment districts and government-mandated charges with respect to the Building and/or Site, or any part thereof, (ii) costs of utilities, including, without limitation, electricity, water, HVAC and sewer charges, utility surcharges and assessments, and refuse removal as actually billed from the utility companies; (iii) the costs of capital alterations, capital additions, capital improvements, capital repairs and capital replacements described in Section 28.2(4) of the Lease; and (iv) wages, salaries and other compensation and benefits paid to Landlord's employees, agents or contractors engaged in the operation, management, maintenance or security of the Building and/or Site, to the extent such wages, salaries and other compensation are for union personnel or paid or incurred; provided however, if any employee of Landlord provides services with respect to the Site and other property which is not part of the Site, then a prorated portion of such employees' wages, salaries and other compensation and benefits shall be included in Operating Costs based on the portion of their working time devoted to the Site.
Cap on Controllable Operating Costs. Landlord agrees that in calculating Tenant’s Share of Excess Operating Costs pursuant to Article 5 of this Lease, that portion of Operating Costs which are controllable by Landlord (specifically excluding, without limitation, insurance premiums, taxes [including Taxes] and costs of utilities) will not increase more than five percent (5%) per year, compounded annually, over the amount of such controllable Operating Costs for calendar year 2010. Such cap is cumulative and the unused portion of a year’s cap may be carried forward to absorb any future Operating Costs that would otherwise be in excess of the cap. For example, if the actual Operating Costs increase in a calendar year is only 3%, and the cap is 5%, the maximum allowable Operating Cost increase for the following or any future year would be 5% plus the amount of the prior year’s unused 2%. Further, any Operating Costs amount which is in excess of the cap in one year may be carried forward by Landlord and recovered in later years if and to the extent the cap for such later years is not exceeded.
Cap on Controllable Operating Costs. Notwithstanding anything to the contrary contained in Article 3 (Rent) of the Lease, effective as of the Extension Date, the aggregate Controllable Operating Costs (as hereinafter defined) included in Operating Costs in any calendar year after the Base Year shall not increase by more than five percent (5%) on an annual, cumulative and compounded basis, over the actual aggregate Controllable Operating Costs included in Operating Costs for any preceding calendar year (including the Base Year), but with no such limit on the amount of Controllable Operating Costs which may be included in the Operating Costs incurred during the Base Year. For purposes of this Section 4.c, “Controllable Operating Costs” shall mean all Operating Costs except: (i) insurance carried by Landlord with respect to the Property and/or the operation thereof; (ii) costs of capital expenditures which constitute Operating Costs under Section 3.2.(a).(3) of the Lease; and (iii) wages, salaries and other compensation and benefits paid to Landlord’s employees, agents or contractors engaged in the operation, management, maintenance (including, but not limited to, janitorial and cleaning services) or security of the Building or Property, to the extent such wages, salaries and other compensation are incurred as a result of union labor or government mandated requirements including, but not limited to, prevailing wage laws and similar requirements. The provisions of this Section 5.d do not apply to Taxes and utility services.
Cap on Controllable Operating Costs. Notwithstanding anything to the contrary contained herein, the aggregate Controllable Operating Costs, as that term is defined below, shall not increase more than seven percent (7%) in any calendar year during the Term commencing with the calendar year 2011 over the maximum amount of Controllable Operating Costs chargeable for the immediately preceding calendar year, with no limit on the Controllable Operating Costs during the calendar year 2010 (i.e., the actual Controllable Operating Costs for calendar year 2010 shall be the maximum amount for the calendar year 2010 for purposes of this provision). “Controllable Operating Costs” shall mean shall mean all Operating Costs except utility costs, security costs, insurance costs, costs of services provided under a union contract and costs associated with repairs due to casualty (including hurricanes), vandalism or other source outside of Landlord’s reasonable control and in no event shall Controllable Operating Costs include Taxes. Additionally, in no event shall any management fees included in Operating Costs for any calendar exceed four percent (4%) of the Project’s gross receipts for such calendar year.
Cap on Controllable Operating Costs. For purposes of calculating Tenant’s Proportionate Share of Operating Costs under Section 4(b)(2), [**].
Cap on Controllable Operating Costs. Notwithstanding anything to the contrary set forth herein, Landlord does hereby agree that, solely for purposes of determining Tenant’s Pro Rata Share of Operating Costs, the portion of Operating Costs attributable to all items other than taxes, insurance (as a result in increases in premiums or as a result of increases or changes in the coverages required by Landlord’s mortgagee), utilities and security costs (such portion being referred to herein as the “Controllable Expenses”) shall not exceed in any calendar year the Controllable Expenses in the year 2004 increased by 5% per annum on a cumulative, compounded basis. For example, if the Controllable Expenses for year 2004 (annualized) are $7.00 per rentable square foot, the Controllable Expenses for year 2005 shall not exceed $7.35 per rentable square foot, the Controllable Expenses for year 2006 shall not exceed $7.72 per rentable square foot, etc.
Cap on Controllable Operating Costs. Landlord agrees that in calculating Tenant's Share of Excess Operating Costs pursuant to Article 5 of this Lease, that portion of Operating Costs which are controllable by Landlord (specifically excluding, without limitation, insurance premiums, taxes [including Taxes] and costs of utilities) will not increase more than five percent (5%) per year, compounded annually, over the amount of such controllable Operating Costs for calendar year 2010 with respect to the Second Floor Premises and for calendar year 2013 with respect to the First Floor Premises; provided, however, that with respect to the entire Premises, such cap shall not apply in calendar year 2016, and thereafter the cap described above shall apply to the entire Premises, compounded annually, over the amount of such controllable Operating Costs for calendar year 2016. Such cap is cumulative and the unused portion of a year's cap may be carried forward to absorb any future Operating Costs that would otherwise be in excess of the cap. For example, if the actual Operating Costs increase in a calendar year is only 3%, and the cap is 5%, the maximum allowable Operating Cost increase for the following or any future year would be 5% plus the amount of the prior year's unused 2%. Further, any Operating Costs amount which is in excess of the cap in one year may be carried forward by Landlord and recovered in later years if and to the extent the cap for such later years is not exceeded.
