Cap on Expenses Sample Clauses

Cap on Expenses. Notwithstanding anything to the contrary contained in this Lease, Tenant's obligation to pay Expenses (excluding costs for snow removal, insurance, utilities and other noncontrollable costs) shall: (i) for the first calendar year following the Base Year, not exceed an amount equal to (a) one hundred five percent (105%) of the Expenses (excluding costs for snow removal, insurance, utilities and other non-controllable costs) in the Base Year, minus (b) Expenses (excluding costs for snow removal, insurance, utilities and other non-controllable costs) in the Base Year; and (ii) for the second calendar year following the Base Year, not exceed an amount equal to (a) one hundred five percent (105%) of one hundred five percent (105%) of the Expenses (excluding costs for snow removal, insurance, utilities and other non-controllable costs) in the Base Year, minus (b) Expenses (excluding costs for snow removal, insurance, utilities and other non-controllable costs) in the Base Year; and (iii) for the third calendar year following the Base Year, not exceed an amount equal to (a) one hundred five percent (105%) of one hundred five percent (105%) of one hundred five percent (105%) of the Expenses (excluding costs for snow removal, insurance, utilities and other non-controllable costs) in the Base Year, minus (b) Expenses (excluding costs for snow removal, insurance, utilities and other non-controllable costs) in the Base Year; and for each calendar year thereafter, Tenant's obligation to pay Expenses (excluding costs for snow removal, insurance, utilities and other non- controllable costs) shall be capped in the same manner as provided above. For example, and assuming the following: actual Expenses (excluding snow removal, insurance, utilities, and other non-controllable costs) for the Base Year are $2.00 psf, and for the next three calendar years are: $2.08 psf; $2.16 psf; and $2.45 psf; then Tenant's Expenses obligation, and the corresponding caps for each calendar year would be as follows: (i) Base Year - $0.00 in Expenses and no cap; (ii) first calendar year following Base Year - $.08 psf/annum in Expenses and a cap of $.10 psf/annum (i.e. 105% of $2.00 psf = $2.10 psf minus $2.00 psf); (iii) second calendar year following Base Year - $.16 psf in Expenses and a cap of $.21 psf/annum (i.e. 105% of 105% of $2.00 psf = $2.21 psf minus $2.00 psf) ; and (iv) third calendar year following Base Year- $.32 psf in Expenses and a cap of $.32 psf/annum (i.e. 105% of 105% of 10...
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Cap on Expenses. Notwithstanding anything herein to the contrary it is agreed that in no event will the Building Operating Expenses be increased by more than 5% on Controllable Expenses in any calender year over the Building Operating Expenses for the preceding year. For the purposes of this Office Lease, Controllable Expenses are described as Operating Expenses which are within the reasonable control of the Lessor, but specifically excluding taxes, utilities, costs associated with providing security, insurance, costs incurred to comply with governmental requirments and wages and salaries affected by the minimum wage. The undersigned parties acknowledge that the lease described below is in full force and effect and that Xxxxxx has taken possession of the space. Date of lease: September 1, 2008 Lessor: Xxxxxx Blackacre, Ltd. Lessee: WhiteGlove House Call Health, Inc. Building name: Building I Suite No.: Suite 100 Building address: 0000 Xxx Xxxx Xxxx, Xxxxxxxx X City/County/State/Zip: Austin / Xxxxxx / Texas / 78746 Legal description of property: See Exhibit B of Lease The commencement date, annual anniversary date, and ending date of the initial lease term as defined in paragraph 4.1 of above lease are as follows: Commencement date (month, day, year): Annual Anniversary date (month, day): Ending date (month, day, year): The parties acknowledge that the lease has not been amended or modified and that this acknowledgment may be filed of record with the Texas Secretary of State or the county where the Building is located in order to record (1) Xxxxxx’s possession rights to the Leased Premises, and (2) Lessor’s contractual landlord lien rights over all personal property therein and any security deposit posted by Xxxxxx. The entire lease is hereby affirmed and incorporated herein. The lease will cease to be an encumbrance to Xxxxxx’s title if Lessor files an affidavit of record, stating that Xxxxxx no longer occupies the premises and that Xxxxxx’s right of possession has been lawfully terminated. LESSOR (To be signed at move-in) Xxxxxx Blackacre, Ltd., By SDC, Inc. Its General XXXXXX (To be signed at move-in) Partner, By Spertus Investments, L.L.C. DBA, SDC Properties, Its Agent WhiteGlove House Call Health, Inc. Printed name of company or firm (if applicable) XXXXXXX XXXXXXXX Printed name of company or firm (if applicable) Printed name of person signing Printed name of person signing Signature PRESIDENT Signature Title of person signing (if applicable) Title of person signing (...
Sample 1
Cap on Expenses. Commencing with the calendar year 2009, Landlord agrees that in calculating Tenant’s Proportionate Share of Operating Expenses pursuant to this Section 3.02, Operating Expenses shall not include Controllable Operating Expenses (as hereinafter defined) applicable to the Leased Premises which exceed four percent (4%) per calendar year over the Controllable Operating Expenses calculated on a cumulative basis per calendar year over the term of this Lease (“Controllable Expense Cap”). For example, assuming Controllable Operating Expenses of $100 for the calendar year 2009, the total of such expenses would be capped at $104 for the calendar year 2010 and $108.16 for the calendar year 2011, and so on. “Controllable Operating Expenses” mean all Operating Expenses within Landlord’s reasonable and direct control, either due to contracts with the providers of services or items for the Building which permit such control by Landlord, or due to such contracts which are cancelable by Landlord without cause on not more than thirty (30) days’ notice and replaceable with contracts from other equally capable providers of substantially the same services or items for the Building, but specifically excluding real estate taxes, utility expenses and insurance premiums. If the term of this Lease expires on a date other than December 31 of a calendar year, the last calendar year will be prorated on a per diem basis and the calculation of the Controllable Expense Cap adjusted appropriately. This Section shall survive the expiration or termination of the Lease.
Sample 1
Cap on Expenses. Notwithstanding anything in the Lease to the --------------- contrary, for the purpose of computing Additional Rent under the Lease only, the amount of Expenses for Adjustment Years 1996, 1997, 1998, 1999 and 2000 which shall be payable by Tenant shall be subject to the following limitation: Expenses payable by the Tenant for Adjustment Year 1996 (if any) shall not exceed an amount equal to $5.40 per rentable square foot of the Premises. Thereafter for Adjustment Years 1997, 1998, 1999 and 2000 (the "Capped Years"), Tenant's expense Adjustment (hereinafter defined) with respect to Expenses (or components of Expenses) which are not "Uncontrollable Expenses," shall not increase by more than five percent (5%) over the prior Adjustment Year during the Capped Years on a cumulative compounding basis. The capped amount of Expenses for any Capped Year is herein referred to as the "Capped Expense Amount." The portion of the Expense Adjustment attributable to Expenses (or components of Expenses) which are Uncontrollable Expenses (as hereinafter defined) shall not be capped. "Uncontrollable Expenses (including uncontrollable components of Expenses)" shall mean: the cost of snow removal, the cost of road salt, the cost of insurance premiums required to be carried by Landlord hereunder, the cost of internal and external common area utilities, including electricity, water and gas, supplies and union wages for both direct employees and employees of contractors.
Sample 1

Related to Cap on Expenses

  • Collection Expenses The Borrower further agrees, subject only to any limitation imposed by applicable law, to pay all expenses, including reasonable attorneys’ fees, incurred by the holder of this Note in endeavoring to collect any amounts payable hereunder which are not paid when due.

  • Distribution Expenses Each of the Funds expressly agrees to pay to Service Company, as requested, the Fund’s portion of the actual cost of distributing shares of the Funds, which shall mean its share of all of the direct and indirect expenses of a marketing and promotional nature including, but not limited to, advertising, sales literature, and sales personnel, as well as expenditures on behalf of any newly organized registered investment company which is to become a party of this Agreement pursuant to Section 5.4. The cost of distributing shares of the Funds shall not include distribution-related expenses of an administrative nature, which shall be allocated among the Funds pursuant to Section 3.2(A). Distribution expenses of a marketing and promotional nature shall be allocated among the Funds in the manner approved by the Securities and Exchange Commission in Investment Company Act Release No. 11645 (Feb. 25, 1981): (1) 50% of these expenses will be allocated based upon each Fund’s average month-end assets during the preceding quarter relative to the average month-end assets during the preceding quarter of the Funds as a group. (2) 50% of these expenses will be allocated initially among the Funds based upon each Fund’s sales for the 24 months ended with the last day of the preceding quarter relative to the sales of the Funds as a group for the same period. (Shares issued pursuant to a reorganization shall be excluded from the sales of a Fund and the Funds as a group.) (3) Provided, however, that no Fund’s aggregate quarterly contribution for distribution expenses, expressed as a percentage of its assets, shall exceed 125% of the average expenses for the Funds as a Group, expressed as a percentage of the total assets of the Funds. Expenses not charged to a particular Fund(s) because of this 125% limitation shall be reallocated to other Funds on iterative basis; and that no Fund’s annual expenses for distribution shall exceed 0.2% of its average month-end net assets.

  • Litigation Expenses If either party successfully seeks to enforce any provision of this Agreement or to collect any amount claimed to be due under it, this party will be entitled to reimbursement from the other party for any and all of its out-of-pocket expenses and costs including, without limitation, reasonable attorneys' fees and costs incurred in connection with the enforcement or collection.

  • Liquidation Expenses Expenses that are incurred by the Master Servicer or a Servicer in connection with the liquidation of any defaulted Mortgage Loan and that are not recoverable under the applicable Primary Mortgage Insurance Policy, if any, including, without limitation, foreclosure and rehabilitation expenses, legal expenses and unreimbursed amounts, if any, expended pursuant to Sections 9.06, 9.16 or 9.22.

  • Termination Expenses Termination Expenses are in addition to compensation for Basic and Supplemental Services, and are full compensation for all damages and expenses which are directly or indirectly attributable to termination. Termination Expenses are applicable only to a termination for convenience by Owner and shall be computed as a percentage of the total compensation for Basic Services and Supplemental Services earned to the time of termination, as follows: .1 Twenty (20%) percent of the total compensation for Basic and Supplemental Services earned to the date of termination, if termination occurs before or during the schematic design phase; or .2 Ten (10%) percent of the total compensation for Basic and Supplemental Services earned to the date of termination, if termination occurs during the design development phase; or .3 Five (5%) percent of the total compensation for Basic and Supplemental Services earned to the date of termination, if termination occurs during any subsequent phase.

  • COMPENSATION; EXPENSES (a) In consideration of the foregoing, the Advisor shall pay the Sub-advisor, with respect to the Fund, a fee as specified in Appendix B hereto. Such fees shall be accrued by the Advisor daily and shall be payable monthly in arrears on the first business day of each calendar month for services performed hereunder during the prior calendar month. If fees begin to accrue in the middle of a month or if this Agreement terminates before the end of any month, all fees for the period from that date to the end of that month or from the beginning of that month to the date of termination, as the case may be, shall be prorated according to the proportion that the period bears to the full month in which the effectiveness or termination occurs. Upon the termination of this Agreement with respect to the Fund, the Advisor shall pay to the Sub-advisor such compensation as shall be payable prior to the effective date of termination. (b) During the term of this Agreement, the Sub-advisor will pay all expenses incurred by it in connection with its activities under this Agreement other than the cost of securities and other investments (including brokerage commissions and other transaction charges, if any) purchased for the Portfolio. The Sub-advisor shall, at its sole expense, employ or associate itself with such persons as it reasonably believe to be particularly fitted to assist it in the execution of its duties under the Agreement. Except as set forth in Appendix B, the Sub-advisor shall not be responsible for the Trust’s, the Fund’s or the Advisor’s expenses, including any extraordinary and non-recurring expenses. (c) No fee shall be payable hereunder with respect to the Fund during any period in which the Fund invests all (or substantially all) of its investment assets in a registered, open-end, management investment company, or separate series thereof, in accordance with Section 12(d)(1)(E) under the 1940 Act, pursuant to the instruction of the Advisor and of the Trust’s Board of Trustees.

  • Acquisition Expenses Any and all expenses incurred by the Company, the Advisor, or any Affiliate of either in connection with the selection, acquisition or development of any Asset, whether or not acquired, including, without limitation, legal fees and expenses, travel and communications expenses, costs of appraisals, nonrefundable option payments on property not acquired, accounting fees and expenses, and title insurance premiums.

  • ALPS Compensation; Expenses (a) ALPS will bear all expenses in connection with the performance of its services under this Agreement, except as otherwise provided herein. ALPS will not bear any of the costs of Fund personnel. Other Fund expenses incurred shall be borne by the Fund or the Fund’s investment adviser, including, but not limited to, initial organization and offering expenses; the blue sky registration and qualification of Shares for sale in the various states in which the officers of the Fund shall determine it advisable to qualify such Shares for sale (including registering the Fund as a broker or dealer or any officer of the Fund as agent or salesman in any state); litigation expenses; taxes; costs of preferred shares; expenses of conducting repurchase offers for the purpose of repurchasing Fund shares; administration, transfer agency, and custodial expenses; interest; Fund directors’ or trustees’ fees; brokerage fees and commissions; state and federal registration fees; advisory fees; insurance premiums; fidelity bond premiums; Fund and investment advisory related legal expenses; costs of maintenance of Fund existence; printing and delivery of materials in connection with meetings of the Fund’s directors or trustees; printing and mailing of shareholder reports, prospectuses, statements of additional information, other offering documents and supplements, proxy materials, and other communications to shareholders; securities pricing data and expenses in connection with electronic filings with the U.S. Securities and Exchange Commission (the “SEC”).

  • Administration Expenses The Company agrees to pay any Administration Expenses to the County when and as they shall become due, but in no event later than the date which is the earlier of any payment date expressly provided for in this Fee Agreement or the date which is forty-five (45) days after receiving written notice from the County, accompanied by such supporting documentation as may be necessary to evidence the County’s or Indemnified Party’s right to receive such payment, specifying the nature of such expense and requesting payment of same.

  • Additional Expenses to be inserted if applicable.

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