Cap on Controllable Operating Expenses. For purposes of calculating Tenant's Additional Rental pursuant to Paragraph 19 of the Lease, Landlord and Tenant hereby agree that, commencing with the first full calendar year of the Lease Term, Operating Expenses (except for Uncontrollable Costs, as hereinafter defined) shall be deemed not to increase by more than four and one-half percent (4 1/2%) herein referred to as the "Operating Expense Cap" from one calendar year to the next calendar year, regardless of any actual increases in Operating Expenses; provided, however, in the event that in any calendar year any such increase in Operating Expenses is in fact greater than the Operating Expense Cap (any such increase in excess of the Operating Expense Cap being hereinafter collectively referred to as the "Carryover Percentage"), Landlord shall have the right to add all of the Carryover Percentage (or such portion thereof as will not produce a total increase in Operating Expenses in excess of the Operating Expense Cap) to the increases in Operating Expenses occurring over any of the following years of the Lease Term in which such increases in Operating Expenses are less than the Operating Expense Cap, on a cumulative basis until all such Carryover Percentages have been used to increase Operating Expenses for purposes of calculating Tenant's Additional Rental payable pursuant to Paragraph 19 of the Lease. For example, if the actual increase in Operating Expenses during the second calendar year of the Lease Term is ten percent (10%) and if, for purposes of this example, the Operating Expense Cap is eight percent (8%) (thus creating a Carryover Percentage of two percent (2%), which may be carried forward to future years by Landlord), and if in the third calendar year of the Lease Term the actual increase in the Operating Expenses is six percent (6%), then during the third calendar year of the Lease Term Operating Expenses shall be deemed to increase by eight percent (8%), such eight percent (8%) increase arising from adding the six percent (6%) increase in Operating Expenses which occurred in the third calendar year to the two percent (2%) Carryover Percentage from the second calendar year. The foregoing provisions of this Section notwithstanding, Taxes, all utility costs and expenses, including, without limitation, those for electricity and other fuels and forms of power or energy, water charges, sewer and waste disposal, and the cost of all casualty, liability and other insurance applicable to the Project...
Cap on Controllable Operating Expenses. Effective as of January 1, 2015, Controllable Operating Expenses (hereinafter defined) that may be included in Operating Expenses in any year of the Term shall not exceed one hundred six percent (106%) (the “Controllable Expense Cap”) of Controllable Operating Expenses for the calendar year 2014, calculated on a compounded and on-going basis. To illustrate the compounding component of the Controllable Expense Cap, Controllable Operating Expenses that may be included in the calculation of Operating Expenses for any calendar year after 2014 (each a "Comparison Year") shall not exceed the product of the total Controllable Operating Expenses for the calendar year 2014 and the following percentages for each Comparison Year: 106% for 2015; 112.36% for 2016; 119.10% for 2017; 126.25% for 2018; and so on (without regard to what was actually incurred and subject to the remaining terms of this Section 5). As used herein, (i) the term “Controllable Operating Expenses” means all Operating Expenses (after any gross up permitted under the Lease) excluding (1) Taxes, (2) the cost of utilities, (3) insurance costs, (4) employment costs based upon the minimum wage (including benefits), (5) any costs Landlord is required to incur to comply with any rule, code, law, regulation, or ordinance adopted or promulgated after the Effective Date (or new or different interpretations of any of the foregoing adopted or promulgated after the Effective Date) of any governmental authority or agency, (6) management fees (as limited in Section 2(c) of the Lease), and (7) any expense increase arising from the unionization of any service rendered to the Project, and (ii) “on-going basis” means that, if Controllable Operating Expenses for any given Comparison Year exceeds the Controllable Expense Cap for that Comparison Year, Landlord may carry over to future Comparison Years amounts by which Controllable Operating Expenses exceeded the Controllable Expense Cap in any previous Comparison Year until fully recouped by Landlord, so long as the amount of Controllable Operating Expenses billed to Tenant in each Comparison Year never actually exceeds the Controllable Expense Cap for that Comparison Year.
Cap on Controllable Operating Expenses. Notwithstanding anything to the contrary set forth in this Lease, Landlord agrees that Tenant’s obligation to pay increases in controllable Operating Expenses in any Operating Period shall not exceed five percent (5%) over the controllable Operating Expenses payable in the preceding Operating Period, determined on a cumulative basis throughout the Term. For the purposes of this Lease, “controllable” Operating Expenses include all Operating Expenses other than the cost of all utility services provided to the Project, insurance premiums and any taxes included in Operating Expenses. For purposes of clarity, there is no cap on the amount of Taxes payable by Tenant.
Cap on Controllable Operating Expenses. Notwithstanding anything to the contrary contained in this Article 4, the aggregate Controllable Expenses (as hereinafter defined) included in Operating Expenses in any Expense Year after the 2018 Base Year shall not increase by more than five percent (5%) on an annual and compounded basis, over the actual aggregate Controllable Expenses included in Operating Expenses for any preceding Expense Year, but with no such limit on the amount of Controllable Expenses which may be included in the Operating Expenses incurred during the 2018 Base Year. For purposes of this Section 4.3.4, “Controllable Expenses” shall mean all Operating Expenses except: (i) costs of utilities; (ii) any and all assessments, including assessment districts and government-mandated charges with respect to the Building or Real Property, or any part thereof; (iii) insurance carried by Landlord with respect to the Real Property and/or the operation thereof; and (iv)costs of capital expenditures, including, without limitation, costs of capital improvements, capital alterations, and capital repairs. The provisions of this Section 4.3.4 do not apply to the Tax Expenses.
Cap on Controllable Operating Expenses. Notwithstanding Paragraph 7(a), for purposes of this Lease, beginning with the first full Fiscal Year after the Fiscal Year in which the Commencement Date occurs, “Controllable Operating Expenses” used in calculating Operating Expenses under this Lease (for determination of Tenant’s Share of Operating Expenses) will not be increased from one Fiscal Year to the next by more than five percent (5%) on a cumulative and compounding annual basis, over the amount used in such calculation for the immediately preceding full Fiscal Year. “Controllable Operating Expenses” means all Operating Expenses other than Non-Controllable Operating Expenses. “Non-Controllable Operating Expenses” means (A) expenses for property, liability and other insurance coverages carried by Landlord, including deductibles and an allocation of a portion of the cost of blanket insurance policies, if any, maintained by Landlord and/or its affiliates; (B) Tax Expenses, (C) utility costs (including, but not limited to electrical, telecommunication, water, sewer, and gas costs), (D) license, permit, and inspection fees, (E) costs resulting from increases in the minimum wage under Applicable Laws, (F) costs resulting from a force majeure event, (G) management fees (which percentage is capped pursuant to Paragraph 7(b)), (H) costs resulting from a change in Applicable Law occurring after the Date of Lease, and (I) repair and maintenance costs. 8.
Cap on Controllable Operating Expenses. Landlord hereby agrees that "Controllable Operating Expenses" (all expenses other than ad valorem and non-ad valorem real estate taxes, Building insurance and utilities) shall not increase by more than six (6%) percent per year over the previous year's actual Controllable Operating Expenses, cumulative during the Term hereof, and any renewal terms. Landlord's actual costs for uncontrollable operating expenses (i.e. real estate taxes, Building insurance and utilities) shall be passed through to Tenant on a pro-rata basis. Additionally, any expenses deferred during the first year of operation of the Building because of construction warranties (i.e. HVAC service contracts, elevator service contracts, fire/security service contracts, etc.) will be added back to the operating expenses prior to determining whether or not the controllable operating expense cap has been exceeded.
Cap on Controllable Operating Expenses. Xxxxxxxx agrees that in calculating Tenant’s Share of Expenses pursuant to this Article 3, Controllable Operating Expenses will not increase more than five percent (5%) per year, compounded annually, over the amount of such Controllable Operating Expenses for the Stabilization Year. The “Stabilization Year” shall mean the first full calendar year during the Term in which the average actual occupancy of the Building equals or exceeds 95% of the total rentable square footage of the Building. Such cap is cumulative and the unused portion of a year’s cap may be carried forward to absorb any future Operating Expenses that would otherwise be in excess of the cap. For example, if the actual Operating Expense increase in a certain year is only 5%, and the cap is 7%, the maximum allowable Operating Expense increase for the following year would be 7% plus the amount of the prior year’s unused 2%. Further, any Operating Expense 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 Expenses. Notwithstanding anything to the contrary in the Lease, the aggregate Controllable Operating Expenses (as defined below) shall not increase by more than five percent (5%) in any calendar year over the amount of Controllable
Cap on Controllable Operating Expenses. For purposes of determining Tenant’s Proportionate Share of increases in Operating Expenses, the amount by which Controllable Operating Expenses (defined below) (in the aggregate and not on a line-by-line basis) increase during each Calendar Year commencing with Calendar Year 2009 shall not exceed the product of the Controllable Operating Expenses for the immediately preceding Calendar Year multiplied by *** (the “Cap”). For purposes of this Section 7.8 only, “Controllable Operating Expenses” shall be all Operating Expenses less all taxes, utility charges, insurance costs, costs of snow removal, costs incurred to comply with laws and any other charges incurred by reason of the causes or factors described in Section 27.16 (it being the intent that only controllable expenses be capped as set forth herein). Tenant’s Proportionate Share of increases in Operating Expenses shall be calculated after the determination of increases in Controllable Operating Expenses has been made pursuant to this Section 7.8.
Cap on Controllable Operating Expenses. Notwithstanding anything to the contrary contained in this Section 5, "Controllable Operating Expenses" (as hereinafter defined) for any calendar year after the First Lease Year (as defined below) shall not increase by more than five percent (5%) over the maximum permitted Controllable Expenses for any immediately preceding calendar year (regardless of the actual Controllable Expenses incurred for such preceding calendar year), provided, however, if the actual Controllable Expenses for any calendar year are greater than the maximum amount permitted to be charged to Tenant hereunder, the difference shall be added to the Controllable Expenses for succeeding calendar years until exhausted. For purposes of this section 5.2, (i) the term "
