Common Area Charge. The Premises to be demised are located within an office/industrial park known as Forsgate Industrial Complex. Landlord, from time to time, will incur various expenses to maintain the Park for the benefit of all tenants. The Tenant shall pay three percent (3.0%) ("Tenant's Share") of the total costs and expenses incurred by Landlord in maintaining certain areas of the Park for items as follows: (i) the cost of maintaining Park signs and tenant directories; (ii) the cost of water, electricity and other utilities used in connection with the operation and maintenance of the Park and not part of any area demised to a tenant; (iii) the cost of insurance, including general liability insurance, which is carried by Landlord and is usual and customary under the circumstances; (iv) other costs reasonably incurred by Landlord to maintain the Park or costs incurred for services benefiting all tenants or occupants of the Park which, in the reasonable opinion of Landlord, are a service desirable to operate the Park. The cost of maintaining common facilities used by all tenants, such as common grass areas, boulevard dividers, curbing and lighting. Tenant shall pay to the Landlord as an additional charge, annually, Tenant's Share of such common Park expenses for each calendar year. At the end of each calendar year, Landlord shall furnish Tenant with a statement called "Landlord's Expense Statement" setting forth in reasonable detail the common area Complex expenses for such calendar year. Tenant's share of such charges shall not exceed, on an annual basis, FIVE THOUSAND TWO HUNDRED FIFTY and NO/100 Dollars ($5,250.00), such sum adjusted to be increased per annum by the percentage increase, if any, of the cost of living from January 1, 1996 to December 31 of the year for which the bill is rendered by Landlord to Tenant. The cost of living increaxx xhall be measured by the Consumer Price Index for "All Items", the "Index" issued by the U.S. Department of Labor. In the event the Index is no longer issued or available or commonly used at the time a determination is to be made, the Landlord shall designate another index or criteria which will accurately reflect the increase in the cost of living which has occurred for the time period so to be determined. Tenant's Share of common area charges for Forsgate Industrial Complex, which shall become payable by Tenant during the calendar year in which this Lease commences or ends, shall be apportioned between Landlord and Tenant in accordance with the portion of such calendar year within the Term.
Appears in 1 contract
Samples: Inter Parfums Inc
Common Area Charge. The Premises In addition to be demised are located within an office/industrial park known as Forsgate Industrial Complex. Landlordthe Basic Rental and all other amounts payable hereunder, from time to time, will incur various expenses to maintain the Park for the benefit of all tenants. The Tenant shall pay three percent (3.0%) ("Tenant's Share") of the total costs and expenses incurred by Landlord in maintaining certain areas of the Park for items as follows: (i) the cost of maintaining Park signs and tenant directories; (ii) the cost of water, electricity and other utilities used in connection with the operation and maintenance of the Park and not part of any area demised to a tenant; (iii) the cost of insurance, including general liability insurance, which is carried by Landlord and is usual and customary under the circumstances; (iv) other costs reasonably incurred by Landlord to maintain the Park or costs incurred for services benefiting all tenants or occupants of the Park which, in the reasonable opinion of Landlord, are a service desirable to operate the Park. The cost of maintaining common facilities used by all tenants, such as common grass areas, boulevard dividers, curbing and lighting. Tenant shall pay to Landlord for each calendar year or portion thereof during the Term (after the expiration of any rent abatement periods) an annual common area charge (the "Common Area Charge") equal to Tenant's Share, as defined in Section 3.3 above, of all costs allocable and attributable to, and incurred by, Landlord to operate, maintain and keep in good repair the Retail Parcel in Landlord's reasonable judgment, any parcels created from a reconfiguration, reallocation, addition, subtraction of all or part of the Retail Parcel which contain all or part of the Premises ("New Parcels"), and the Common Area, including, without limitation, (a) costs of insurance, (b) the charges of any independent contractor who, under contract with Landlord or its representatives, does any of the work of operating, maintaining or repairing the Retail Parcel, any New Parcels or Common Area, (c) costs of supplies, sundries and utilities, legal and accounting expenses, (d) a reasonable charge for Landlord's overhead, management and administrative expenses, (e) management fees not to exceed 4% of gross rental, (f) any other expense or charge, whether or not herein mentioned, which in accordance with generally accepted accounting and management principles would be considered as an additional chargeexpense of maintaining, annuallyoperating or repairing the Retail Parcel, any New Parcels or Common Area or any part thereof, and (g) all costs or expenses arising from or incurred in connection with Landlord's obligations as owner of the Retail Parcel or the obligations of the owner of any New Parcels, under the Declaration of Covenants, Conditions, Restrictions and Easements for 000 Xxxxx Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx dated May 30, 2001, as may be amended from time to time (the "Declaration of Covenants""). A copy of the Declaration of Covenants, Conditions and Easements which is in effect on the date of this Lease is attached hereto as Exhibit "D". Tenant's Share of the Common Area Charge payable with respect to 2005 shall not exceed the lesser of the actual per square foot rate of the Common Area Charge for the calendar year 2005 and $6.20 per square foot multiplied by the Rentable Area of the Premises. Landlord makes no representation or warranty as to Tenant's Share of the Common Area Charge for any year of the Lease Term. Tenant acknowledges that Landlord may incur such common Park expenses generally for each calendar yearthe Retail Parcel and any New Parcels or on a Building-wide or Property-wide basis, and that Landlord's reasonable allocation or an allocation in compliance with the Declaration of Covenants of such expenses to the Retail Parcel or any New Parcels, Common Area or to Tenant shall be binding for all purposes, absent manifest error or fraud. At Landlord and Tenant shall reconcile the payments made by Tenant in respect of the Common Area Charge against Landlord's actual expenses, as set forth in Landlord's written statement (the "Final Statement of Common Area Charge") to Tenant given within one hundred twenty (120) days following the end of each calendar year. If the Commencement Date is a day other than the first day of a calendar month, Landlord the Common Area Charge for the first partial calendar month of the Term shall furnish Tenant with be prorated on the basis of the number of days of the Term that are within that month, as a statement called "Landlord's Expense Statement" setting forth fraction of the total number of days in reasonable detail the common area Complex expenses for such calendar yearthat month. Tenant's share of such charges Common Area Charges shall not exceedinclude (i) depreciation and amortization costs (except as otherwise expressly set forth herein); (ii) ground lease payments (iii) costs of advertising or promoting for lease space in the Building (iv) legal fees or accounting fees incurred in negotiating leases or enforcing the obligations of tenants or other occupants under other leases in the Building (including, on an annual basisbut not limited to, FIVE THOUSAND TWO HUNDRED FIFTY and NO/100 Dollars collecting rents); ($5,250.00)v) costs attributed to maintaining Landlord in good standing as a limited liability company; (vi) any costs for which Landlord is reimbursed by way of insurance, such sum adjusted to be increased per annum service contracts or warranties; (vii) cost of repairs, alterations or replacements caused by the percentage increase, if any, exercise of the rights of eminent domain or fire or other casualty; (viii) the cost of living from January 1any special services rendered which are not generally rendered to other tenants in the Retail Parcel; (ix) allowances, 1996 to December 31 concessions and other costs and expenses incurred in completing, fixturing, furnishing, renovating or otherwise improving, decorating or redecorating space for tenants (including Tenant), other occupants or prospective tenants or other occupants of the year Building, or vacant, leasable space in the Building; (x) costs incurred in connection with the sale, financing, refinancing, mortgaging, selling or change of ownership of the Building, including brokerage commissions, attorneys' and accountants' fees, closing costs, title insurance premiums, transfer taxes and interest charges; (xi) costs or expenses of utilities directly metered to tenants of the Retail Parcel or New Parcels or payable separately by such tenants, and the costs of providing electricity to any space in the Retail Parcel or New Parcels which is leased, other than the Premises; (xii) all amounts that would otherwise be included in Common Area Charges which are paid to any affiliate of Landlord, the Building management company or any affiliate of the Building management company to the extent (other than to a de minimis extent) the costs of such services exceed market rates for such services in the Xxxxx Xxxxxxxx Xxxxxx xxxxxxxxx xx Xxxxxxx, Xxxxxxxx rendered by persons or entities of similar skill, competence and experience; (xiii) any costs for which any tenant in the bill is rendered Retail Parcel has been charged separately or any costs for which any tenant would have been charged separately had such tenant's lease contained the same terms and provisions as this Lease; (xiv) any penalties or liquidated damages that Landlord pays to Tenant under this Lease or to any other tenants in the Building under their respective leases; (xv) the cost of clean up or damage due to the presence or release of any Hazardous Materials (as defined in Article 19 below), including asbestos and polychlorinated biphenyls, except to the extent placed on the Premises or in the Retail Parcel by Tenant; (xvi) any costs, fines or penalties incurred due to violations by Landlord of any governmental rule or authority; costs or expenses (including fines, penalties and interest) incurred due to Tenant. The cost late payments or due to the negligence or willful misconduct of living increaxx xhall Landlord or Landlord's agents, employees or contractors; (xvii) to the extent any costs that are otherwise includable in Common Area Charges are incurred with respect to the Retail Parcel, Tower Parcel, and any other properties there shall be measured excluded from Common Area Charges a percentage (as reasonably determined by Landlord) thereof that is properly allocable to such other parcels or properties, as the Consumer Price Index for "All Items"case may be; (xviii) costs and expenses incurred in connection with disputes with consultants, management agents, or incurred in the negotiations or disputes with purchasers or mortgagees of the Building; (xix) costs of overtime or other expenses to Landlord in curing its defaults or other violations of Landlord of any lease or agreement to which Landlord is a party; (xx) mortgage principal, fees, late penalties, interest or amortization payments on any loans, including loans secured by mortgages on the Premises; (xxi) salaries of employees of Landlord above the level of building manager; (xxii) capital expenditures except the following: (a) those incurred to effect a reduction in Common Area Charges and (b) those incurred to effect compliance with Laws which became effective, or applicable to the Building, the Retail Parcel, any New Parcels or the Premises after the date hereof, which capital improvements shall be amortized over their useful life, with interest at two percent (2%) over the Prime Rate (as defined in Section 3.5 below) on the unamortized amount of such expenditures; (xxiii) management office expenses; (xxiv) costs of or related to paintings, sculptures and other art work; and (xxv) "Indextakeover expenses" issued (i.e., expenses incurred by Landlord with respect to space located in another building of any kind or nature in connection with the U.S. Department leasing of Laborspace in the Building.. There will be no duplication in charges to Tenant by reason of any provision in this Lease setting forth Tenant's obligation to reimburse Landlord for Common Area Charges. In no event shall Landlord collect from all tenants obligated to contribute to Common Area Charges an aggregate amount in excess of one hundred percent (100%) of the actual Common Area Charges; Common Area Charges shall be net of any abatement, discount or credit that Landlord may receive. Tenant or its agent shall have the right to examine Landlord's books and records for purposes of confirming the accuracy of the Common Area Charge at any time during normal business hours, upon two days written notice, within one hundred twenty (120) days following Tenant's receipt of Landlord's Final Statement of Common Area Charges. Tenant shall not be entitled to defer or withhold any payment of Rent subject to the inspection right granted pursuant to this paragraph. If it is determined and agreed that Tenant has paid more than its share of the Common Area Charges, then Tenant shall have a credit against Rent next due and payable in the amount of such overpayment (or same shall be refunded to Tenant if at the end of the Term); if it is determined and agreed that Tenant has not paid its full share of the Common Area Charges, then Tenant shall pay the deficiency within thirty (30) days after such determination. If it is determined and agreed that Landlord has charged Tenant Common Area Charges which exceed by five percent (5%) the actual Common Area Charges, then Landlord shall pay the reasonable costs of the audit conducted by Tenant (including travel if the books are not made available in Chicago, Illinois); in such event, Tenant may, if it has not already done so, conduct an audit and inspection of Landlord's books and records for the three (3) prior years. If Tenant shall not have notified Landlord in writing of its intention to review the books and records concerning a Common Area Charge within the one hundred twenty (120) days, then Tenant shall have waived any such right and the statement submitted by Landlord shall be deemed correct and accepted by Tenant, except as otherwise expressly provided for herein. In the event of a dispute as to the Index is no longer issued or available or commonly used at the time a determination is to be made, the Landlord shall designate another index or criteria which will accurately reflect the increase in the cost amount of living which has occurred for the time period so to be determined. Tenant's Share of common area charges for Forsgate Industrial ComplexCommon Area Charges which cannot be resolved by the parties 461545/C/10 within thirty (30) days after Tenant presents its written position (which must be presented and include documentation within one hundred fifty (150) days after receipt of Landlord's statement setting forth Common Area Costs) an independent, which shall become payable nationally recognized accounting firm approved by Tenant during the calendar year in which this Lease commences or ends, shall be apportioned between Landlord and Tenant in accordance shall be retained to effect an audit the results of which shall be binding on Landlord and Tenant, with the portion cost of such calendar year within audit being born by Landlord only if the Termaudit discloses an overcharge of more than five percent (5%) of the actual Common Area Charges.
Appears in 1 contract
Samples: Lease Agreement (Privatebancorp Inc)
Common Area Charge. The Premises to be demised are located within an office/industrial park known as Forsgate Industrial Complex. Landlord, from time to time, will incur various expenses to maintain the Park for the benefit of all tenants. The Tenant shall pay three percent (3.0%) ("“Tenant's ’s Share"”) of the total costs and expenses incurred by Landlord in maintaining certain areas of the Park for items as follows: (i) the cost of maintaining Park signs and tenant directories; (ii) the cost of water, electricity and other utilities used in connection with the operation and maintenance of the Park and not part of any area demised to a tenant; (iii) the cost of insurance, including general liability insurance, which is carried by Landlord and is usual and customary under the circumstances; (iv) other costs reasonably incurred by Landlord to maintain the Park or costs incurred for services benefiting all tenants or occupants of the Park which, in the reasonable opinion of Landlord, are a service desirable to operate the Park. The cost of maintaining common facilities used by all tenants, such as common grass areas, boulevard dividers, curbing and lighting. Tenant shall pay to the Landlord as an additional charge, annually, Tenant's ’s Share of such common Park expenses for each calendar year. At the end of each calendar year, Landlord shall furnish Tenant with a statement called "“Landlord's ’s Expense Statement" ” setting forth in reasonable detail the common area Complex expenses for such calendar year. Tenant's ’s share of such charges shall not exceed, on an annual basis, FIVE THOUSAND TWO HUNDRED FIFTY and NO/100 Dollars ($5,250.00), such sum adjusted to be increased per annum by the percentage increase, if any, of the cost of living from January 1, 1996 to December 31 of the year for which the bill xxxx is rendered by Landlord to Tenant. The cost of living increaxx xhall increase shall be measured by the Consumer Price Index for "“All Items"”, the "“Index" ” issued by the U.S. Department of Labor. In the event the Index is no longer issued or available or commonly used at the time a determination is to be made, the Landlord shall designate another index or criteria which will accurately reflect the increase in the cost of living which has occurred for the time period so to be determined. Tenant's ’s Share of common area charges for Forsgate Industrial Complex, which shall become payable by Tenant during the calendar year in which this Lease commences or ends, shall be apportioned between Landlord and Tenant in accordance with the portion of such calendar year within the Term.
Appears in 1 contract
Samples: Inter Parfums Inc
Common Area Charge. The Premises to be demised are located within an office/industrial park known as Forsgate Industrial Complex. Landlord, from time to time, will incur various expenses to maintain the Park for the benefit of all tenants. The Tenant shall pay three percent (3.0%) ("Tenant's Share") of the total costs and expenses incurred by Landlord in maintaining certain areas of the Park for items as follows: (i) the cost of maintaining Park signs and tenant directories; (ii) the cost of water, electricity and other utilities used in connection with the operation and maintenance of the Park and not part of any area demised to a tenant; (iii) the cost of insurance, including general liability insurance, which is carried by Landlord and is usual and customary under the circumstances; (iv) other costs reasonably incurred by Landlord to maintain the Park or costs incurred for services benefiting all tenants or occupants of the Park which, in the reasonable opinion of Landlord, are a service desirable to operate the Park. The cost of maintaining common facilities used by all tenants, such as common grass areas, boulevard dividers, curbing and lighting. Tenant shall pay to the Landlord as an additional charge, annually, Tenant's Share of such common Park expenses for each calendar year. At the end of each calendar year, Landlord shall furnish Tenant with a statement called "Landlord's Expense Statement" setting forth in reasonable detail the common area Complex expenses for such calendar year. Tenant's share of such charges shall not exceed, on an annual basis, FIVE THOUSAND TWO HUNDRED FIFTY and NO/100 Dollars ($5,250.00), such sum adjusted to be increased per annum by the percentage increase, if any, of the cost of living from January 1, 1996 to December 31 of the year for which the bill xxxx is rendered by Landlord to Tenant. The cost of living increaxx xhall increase shall be measured by the Consumer Price Index for "All Items", the "Index" issued by the U.S. Department of Labor. In the event the Index is no longer issued or available or commonly used at the time a determination is to be made, the Landlord shall designate another index or criteria which will accurately reflect the increase in the cost of living which has occurred for the time period so to be determined. Tenant's Share of common area charges for Forsgate Industrial Complex, which shall become payable by Tenant during the calendar year in which this Lease commences or ends, shall be apportioned between Landlord and Tenant in accordance with the portion of such calendar year within the Term.
Appears in 1 contract
Samples: Jean Philippe Fragrances Inc