Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) of the total common area charges as defined below. Tenant’s percentage share of common area charges shall be paid as follows. Tenant’s estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefore, and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing services.
Appears in 2 contracts
Samples: Standard Industrial Lease (Southwall Technologies Inc /De/), Standard Industrial Lease (Southwall Technologies Inc /De/)
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) of the total common area charges as defined below. Tenant’s percentage share of common area charges shall be paid as follows. Tenant’s estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rentAdditional Rent, on the first day of each month during the term in accordance with paragraph 4(b) Tenant’s pro rata share of the leasereal estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its monthly pro rata share of common area charges as estimated by Landlordthe refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. Within one hundred twenty (120) days For the convenience of the end of each calendar year Landlord, CAM shall be paid in monthly installments due and payable at the time of the termination payment of this lease (or as soon as practicable thereafter)Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall deliver compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement of actual common area charges incurred for indicating whether the preceding year. If such statement shows that Tenant has paid for estimated CAM was greater or less than its the actual percentageCAM. To the extent the actual CAM was less than the estimated CAM, then Landlord will credit the excess against future rent payments due from Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to or will pay such deficiency due within ten amount in cash if no future rent payments are to be paid by Tenant (10) days after demande.g., Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefore, and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s obligation with respect to adjustments at the end of the term or earlier expiration of this lease Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, pay the difference to Landlord within thirty (i30) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion days of the building (date the statement is delivered to Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of . Landlord will preserve the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) records of the actual expenditures CAM for inspection by Tenant for two (2) years from the aggregate date of all other common area charges as compensation for Landlord’s accounting the annual statement to which the receipts apply, and processing servicesTenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per month.
Appears in 2 contracts
Samples: Lease Agreement (Northern Power Systems Corp.), Purchase and Sale Agreement (Wind Power Holdings Inc)
Common Area Charges. Tenant Lessee shall pay to LandlordLessor, as additional rentRent, an amount equal to One Hundred percent (100.00%) Lessee’s pro-rata share of the total common area charges of the Premises as defined below. Tenant’s percentage share of below (the common area charges for the Premises is referred to herein as (“CAC”)). Lessee shall be paid pay to Lessor as follows. TenantRent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided below, the sum of Nine Thousand Six Hundred Twelve Dollars ($9,612), said sum representing Lessee’s estimated monthly payment of common area charges Lessee’s percentage share of CAC and includes a fixed monthly sum of Fourteen Hundred Seven Dollars ($1,407.00) which represents the long term capital reserve for replacement of existing HVAC units, parking lot, roof and painting of building exterior (“Capital Reserves”). It is understood and agreed that Lessee’s obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. Lessee’s estimated monthly payment of CAC payable by Tenant Lessee during the calendar year in which the term Lease commences is set forth in paragraph 4(b) of this leaseabove. Prior At or prior to the commencement of each succeeding calendar year of the term (or as soon as practicable practical thereafter), Landlord Lessor shall deliver to Tenant a written estimate of Tenantprovide Lessee with Lessee’s estimated monthly payment of common area charges. Tenant for CAC which Lessee shall pay, pay to Lessor as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by LandlordRent. Within one hundred twenty (120) 120 days of the end of each the calendar year and the end of the termination of this lease (or as soon as practicable thereafter)Lease Term, Landlord Lessor shall deliver to Tenant provide Lessee a statement of actual common area charges CAC incurred including Capital Reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Tenant Lessee has paid for less than its actual percentage, then Tenant Lessee shall on demand pay to Landlord Lessor the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant Lessee has paid more than its actual percentage share percentage, then Landlord Lessor shall, at its option, promptly refund such excess to Tenant Lessee or credit the amount thereof to the common area charge Rent next becoming due from TenantLessee. Landlord Lessor reserves the right to revise any estimate of common area charges CAC if the actual or projected common area charges CAC show an increase or decrease in excess of 10% from any an earlier estimate for the same period. In such event, Landlord Lessor shall deliver the provide a revised estimate to TenantLessee, together with an explanation of the reasons therefore, and Tenant Lessee shall revise its monthly payments accordingly. LandlordLessor’s and TenantLessee’s obligation with respect to adjustments at the end of the term Lease Term or earlier expiration of this lease Lease shall survive such termination the Lease Term or earlier expiration. “Common area charges,” as As used in this leaseLease, CAC shall include, include but is not be limited to, : (i) all items identified as specified in paragraphs 8Sections 5(b), 96, 11, 12, 13 16 and 16 as being common area charges31; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating all costs and/or and expenses including but not limited to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the ProjectPremises; (viii) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (viiiv) all other operating costs incurred by Landlord Lessor in maintaining and operating the ProjectPremises; (v) Capital Reserves replacements and government regulations imposed on the Premises not related to Lessee’s use and occupancy of the Premises; and (viiivi) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges $.02 per square foot per month, as compensation for LandlordLessor’s accounting and processing management services. Lessee shall have the right to review the basis and computation analysis used to derive the CAC applicable to this Lease annually.
Appears in 1 contract
Samples: Lease Agreement (MoSys, Inc.)
Common Area Charges. Tenant shall pay to Landlord, as additional ------------------- rent, an amount equal to One Hundred twenty-three and forty-seven one hundredths percent (100.0023.47%) of the total common area charges as defined below. Tenant’s 's percentage share of common area charges shall be paid as follows. : Tenant’s 's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s 's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the this lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency excess amount due within ten thirty (1030) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of ten percent (10% %) from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s 's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, Within one hundred twenty (i120) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated days after completion receipt of the building (Tenant’s share itemized statement of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing servicesthe prior calendar year, Tenant shall have the right to request in writing from Landlord further documentation substantiating any actual common area charge. If Tenant makes such written request, Landlord shall provide Tenant with copies of invoices or other evidence of the common area charge in question. Tenant's failure to request such further backup documentation within the one hundred twenty (120) day period referenced above shall be deemed a waiver by Tenant of the right to request any documentation. Tenant shall have no right, pending the receipt of any documentation, to withhold any payment of the common area charges or any other amount owed by Tenant under this Lease.
Appears in 1 contract
Samples: Lease (Atmi Inc)
Common Area Charges. Tenant shall pay to Landlord, as additional rentAdditional ------------------- Rent, an amount equal to One Hundred percent (100.00%) of the total common area charges as defined below. Tenant’s percentage share of common area charges shall be paid as follows. Tenant’s estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demandreceipt of billing (together with reasonable back-up information) upon demand but not more often than once each calendar month, Tenant shall pay an additional ten percent (10%) amount equal to Tenant's Pro Rata Share of the amount due Common Area Charges as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease defined in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefore, Subparagraph 7.B and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, Paragraphs 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization 36 of such capital improvements having a useful life greater than one year as Landlord may have installed for this Lease. Tenant acknowledges and agrees that the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement Common Area Charges shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) include an amount equal to additional five percent (5%) of the actual expenditures in order to compensate Landlord for the aggregate of all other common area charges as compensation for Landlord’s accounting accounting, management and processing services. Provided Tenant notifies Landlord within six (6) months after receipt of a detailed statement of Tenant's Pro Rata Share of the Common Area Charges that Tenant disputes such statements received from Landlord, Tenant or its CPA (as defined below) shall have the right, at Tenant's sole cost and expense, provided Tenant utilizes a Certified Public Accountant (the "CPA") compensated on an hourly basis, upon at least thirty (30) days prior notice to Landlord at any time during regular business hours to audit, review and photocopy Landlord's records pertaining to Common Area Charges for the immediately previous calendar year only. Tenant agrees to keep all information thereby obtained by Tenant confidential. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be credited to Tenant's account within thirty (30) days after the audit is concluded. Notwithstanding anything to the contrary contained in this Lease, Common Area Charges shall not include any of the following: (i) legal fees incurred in Lease preparations; (ii) costs for which Landlord receives reimbursement from insurance; (iii) bad debt or rent loss; (iv) reserves for loss, interest or penalties resulting from Landlord's negligence; (v) costs associated with the operation of Landlord's off-site business premises (except for the five (5) percent administrative fee permitted above); (vi) advertising and leasing costs; (vii) costs incurred as a result of the active negligence or willful misconduct or violation of law by Landlord or its Agents; (viii) costs for which Landlord obtains reimbursement from others; (ix) fees, commissions, attorneys fees, costs or other disbursements incurred in connection with negotiations or disputes with any other occupant of the Buildings, if any, and costs arising from the violation by Landlord of the terms and conditions of any lease or other agreement; (x) depreciation, amortization or other expense reserves; (xi) costs and expenses for which Tenant reimburses Landlord directly or which Tenant pays directly to a third person; (xii) costs in the nature of management or administrative fees or expenses, other than the five (5) percent administrative fee described in this Paragraph 12.
Appears in 1 contract
Samples: Lease Agreement (Cybersource Corp)
Common Area Charges. Tenant Lessee shall pay to LandlordLessor, as additional rentRent, an amount equal to One Hundred percent (100.00%) Lessee’s pro-rata share of the total common area charges of the Premises as defined below. Tenant’s percentage share of below (the common area charges for the Premises is referred to herein as (“CAC”)). Lessee shall be paid pay to Lessor as follows. TenantRent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Forty Six Thousand Seven Hundred Four and 84/100’s Dollars ($46,704.84), said sum representing Lessee’s estimated monthly payment of common area charges Lessee’s percentage share of CAC and includes a fixed monthly sum of Two Thousand Three Hundred Ninety Five and 00/100’s Dollars ($2,395.00) which represents the long term capital reserve for replacement of parking lot, roof and painting of building exterior (“Capital Reserves”). It is understood and agreed that Lessee’s obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. Lessee’s estimated monthly payment of CAC payable by Tenant Lessee during the calendar year in which the term Lease commences is set forth in paragraph 4(b) of this leaseabove. Prior At or prior to the commencement of each succeeding calendar year of the term (or as soon as practicable practical thereafter), Landlord Lessor shall deliver to Tenant a written estimate of Tenantprovide Lessee with Lessee’s estimated monthly payment of common area charges. Tenant for CAC for the subject calendar year which Lessee shall pay, pay to Lessor as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by LandlordRent. Within one hundred twenty (120) 120 days of the end of each calendar year during the term hereof and within 120 days of the termination end of this lease (or as soon as practicable thereafter)the Lease Term, Landlord Lessor shall deliver to Tenant provide Lessee a statement of actual common area charges CAC incurred including Capital Reserves expended for the preceding year or other applicable period in the case of a termination year. If such statement shows that Tenant Lessee has paid for less than its actual percentage, then Tenant Lessee shall on demand pay to Landlord Lessor the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant Lessee has paid more than its actual percentage share percentage, then Landlord Lessor shall, at its option, promptly refund such excess to Tenant Lessee or credit the amount thereof to the common area charge Rent next becoming due from TenantLessee. Landlord Lessor reserves the right to revise any estimate of common area charges CAC if the actual or projected common area charges CAC show an increase or decrease in excess of 10% from any an earlier estimate for the same period. In such event, Landlord Lessor shall deliver the provide a revised estimate to TenantLessee, together with an explanation of the reasons thereforetherefor, and Tenant Lessee shall revise its monthly payments accordingly. LandlordLessor’s and TenantLessee’s obligation with respect to adjustments at the end of the term Lease Term or earlier expiration of this lease Lease shall survive such termination the Lease Term or earlier expiration. “Common area charges,” as Notwithstanding the foregoing, Lessor shall not be entitled to recover for any CAC expense incurred more than twenty-four (24) months prior to the date that the applicable expenses statement for such CAC expenses is delivered to Lessee. During the Term of the Lease or any extensions thereof, the Lessee will have the right to audit the Lessor’s records for the Premises within one (1) year of receipt by the Lessee of the annual statement of actual CAC incurred including Capital Reserves expended. The audit will take place during normal business hours at the Lessor’s office on a date mutually agreed to by the parties and Lessor shall provide reasonable facilities for the conduct of such audit. In the event that such audit shows any additional sums due from Lessee to Lessor on account of CAC expenses, Lessee shall pay such sums at the time of the next payment of Rent hereunder. In the event that such audit shows that Lessee has overpaid any CAC expenses for any year in questions, then Lessee shall be entitled to deduct such overpaid amount from the next payment of Base Rent hereunder, or if this Lease has terminated, Lessor shall, within thirty (30) days of the receipt of such audit, refund such overpaid amount to Lessee. If the audit by the Lessee results in a discrepancy of greater than five percent (5%), Lessor will reimburse Lessee, for Lessee’s reasonable out of pocket costs for the audit. As used in this leaseLease, CAC shall include, include but is not be limited to, : (i) all items identified as specified in paragraphs 8Sections 5(b), 96, 1116, 12, 13 31 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating all costs and/or and expenses including but not limited to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the ProjectPremises; (viii) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (viiiv) all other operating costs incurred by Landlord Lessor in maintaining and operating the ProjectPremises; (v) Capital Reserves replacements and government regulations imposed on the Premises not related to Lessee’s use and occupancy of the Premises; and (viiivi) an amount equal to five percent Five Thousand Nine Hundred Eighty Eight and 00/100’s Dollars (5%$5,988.00) of the actual expenditures for the aggregate of all other common area charges per month, as compensation for LandlordLessor’s accounting and processing management services. Lessee shall have the right to review the basis and computation analysis used to derive the CAC applicable to this Lease annually.
Appears in 1 contract
Samples: Lease Agreement (Equinix Inc)
Common Area Charges. Tenant shall pay to LandlordLandlord as a Common Area charge Tenant's proportionate share of all direct costs and expenses of every kind and nature paid or incurred by Landlord in operating and maintaining the Common Areas. Such costs and expenses shall include but not be limited to costs of cleaning, lighting, repairing, and replacing (except to the extent proceeds of insurance or condemnation awards are available therefor), landscaping, providing security, providing public liability, property damage, fire and extended coverage and such other insurance as additional rentLandlord deems appropriate; total compensation and benefits (including premiums for worker's compensation and other insurance) paid to or on behalf of employees; personal property taxes; supplies; fire protection and fire hydrant charges; water; garbage and sewer charges; utility charges; licenses and permit fees; reasonable depreciation of equipment used in operating and maintaining the Common Areas and rent paid for leasing any such equipment, an amount equal and reasonable reserves for Common Area maintenance, including costs of normal wear and tear to One Hundred percent (100.00%) the roof and exterior walls of the total common area charges Building, plus 15% of all such costs up to $300 in costs per month as defined belowa fee for managing and administering the Common Area. Tenant’s percentage 's proportionate share of common area the Common Area charges shall be 51.5% Tenant's Common Area charges shall be paid as follows. Tenant’s estimated in monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rent, installments on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as an amount to be estimated by Landlord. Within one hundred twenty (120) days of the end On or before April 1 of each calendar year and of the termination of this lease (or as soon as practicable thereafter)year, Landlord shall deliver furnish to Tenant a statement of the actual common area amount of Tenant's proportionate share of such Common Area charges incurred for the preceding calendar year. If such statement shows that Tenant has paid for less than its actual percentage, then Tenant shall on demand pay to Landlord the amount Within 30 days after delivery of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demandstatement, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then to Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate remit to Tenant, together with an explanation of as the reasons thereforecase may be, the difference between the estimated amounts paid by Tenant and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures amounts of Tenant's Common Area charges for such period as shown by such statement. For purposes of calculating the aggregate of all other common area actual Common Area charges as compensation for Landlord’s accounting and processing servicesany partial year, the total Common Area charges shall be pro-rated based upon twelve 30-day months.
Appears in 1 contract
Samples: Lease Agreement (Coast Bancorp)
Common Area Charges. Tenant Lessee shall pay to LandlordLessor, as additional rentRent, an amount equal to One Hundred percent (100.00%) Lessee’s pro-rata share of the total common area charges of the Premises as defined below. Tenant’s percentage share of below (the common area charges for the Premises is referred to herein as (“CAC”)). Lessee shall be paid pay to Lessor as follows. TenantRent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Seven Thousand One Hundred Ten Dollars ($7,110), said sum representing Lessee’s estimated monthly payment of common area charges Lessee’s percentage share of CAC. It is understood and agreed that Lessee’s obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. The CAC does not include any amounts for Utilities. Lessee’s estimated monthly payment of CAC payable by Tenant Lessee during the calendar year in which the term Lease commences is set forth in paragraph 4(b) of this leaseabove. Prior At or prior to the commencement of each succeeding calendar year of the term (or as soon as practicable practical thereafter), Landlord Lessor shall deliver to Tenant a written estimate of Tenantprovide Lessee with Lessee’s estimated monthly payment of common area charges. Tenant for CAC which Lessee shall pay, pay to Lessor as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by LandlordRent. Within one hundred twenty (120) 90 days of the end of each the calendar year and the end of the termination of this lease (or as soon as practicable thereafter)Lease Term, Landlord Lessor shall deliver to Tenant provide Lessee a statement of actual common area charges CAC incurred for the preceding year or other applicable period in the case of a termination year, If Lessee desires backup supporting documentation, Lessor will provide at a cost of $5.00 per page for each document requested. If such statement shows that Tenant Lessee has paid for less than its actual percentage, then Tenant Lessee shall on within ten (10) days of written demand pay to Landlord Lessor the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant Lessee has paid more than its actual percentage share percentage, then Landlord Lessor shall, at its Lessee’s option, promptly refund such excess to Tenant Lessee or credit the amount thereof to the common area charge Rent next becoming due from TenantLessee. Landlord Lessor reserves the right to revise any estimate of common area charges CAC if the actual or projected common area charges CAC show an increase or decrease in excess of 10% from any an earlier estimate for the same period. In such event, Landlord Lessor shall deliver the provide a revised estimate to TenantLessee, together with an explanation of the reasons thereforetherefor, and Tenant Lessee shall revise its monthly payments accordingly. LandlordLessor’s and TenantLessee’s obligation with respect to adjustments at the end of the term Lease Term or earlier expiration of this lease Lease shall survive such termination the Lease Term or earlier expiration. “Common area charges,” as Lessor shall maintain books and records reflecting the CAC in accordance with generally accepted accounting principles. Lessee and its certified public accountant shall have the right to inspect Lessor’s records at Lessor’s applicable local office or other location designated by Lessor upon at least forty-eight (48) hours prior notice during normal business hours. The results of any such inspection shall be kept strictly confidential by Lessee and its agents. If Lessee objects to any actual statement, Lessor and Lessee shall agree upon an independent certified public accountant to issue a final and conclusive actual statement. If it shall be finally determined by such independent certified public accountant that such actual statement by Lessor was incorrect, then either (a) Lessor shall reimburse Lessee for any overpayment or credit the amount of such overpayment against the next installment of rent, or (b) Lessee shall within ten (10) days after such determination pay any amounts due to Lessor. Lessee shall pay the cost of such audit, provided that if the audit reveals Lessor overstated CAC by more than five percent (5%), Lessor shall pay the cost of such audit. As used in this leaseLease, CAC shall include, include but is not be limited to, : (i) all items identified as specified in paragraphs 8Sections 5(b), 96, 11, 12, 13 16 and 16 as being common area charges31; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for all costs and expenses in connection with the purpose of reducing operating costs and/or foregoing, including but not limited to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the ProjectPremises; (viii) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (viiiv) all other operating costs incurred by Landlord Lessor in maintaining and operating the ProjectPremises; and (viiiv) an amount equal to five One percent (51%) of the actual expenditures for the aggregate of all other common area charges base rent and CAC, as compensation for LandlordLessor’s accounting and processing management services. Lessee shall have the right to review the basis and computation analysis used to derive the CAC applicable to this Lease annually. CAC shall not include and Lessee shall have no obligation for any of the following:
1. Leasing commissions and/or expenses and advertising and promotional expenses.
2. Legal fees or other professional or consulting fees in connection with the negotiation of tenant leases.
3. Repairs, alternations, additions, improvements, or replacements made to rectify or correct any defect in the original design, materials or workmanship of the Premises, building or common areas if proven by Lessee to be a defect. Defect does not cover normal wear and tear, products out of warranty or items that are over 1 year old except for structural defects.
4. Repairs required to cure violations of laws existing at date of occupancy,
5. The cost of repairs or replacements, less Lessee deductible, required under the Lease to be insured by Lessor unless such coverage was not available on a commercially reasonable basis and Lessor has notified Lessee that he is unable to obtain insurance required of Lessor under Lease.
6. Damage and repair necessitated by the sole negligence or willful misconduct of Lessor or Lessor Agents after notice from Lessee.
7. Compensation paid to officers or executives of the Lessor.
8. Salaries of service personnel to the extent that such personnel perform services not solely in connection with the management, operation, repair, or maintenance of the building except on a reasonable fair or equitable basis.
9. The cost of overtime or other expense to Lessor in curing its defaults.
10. Legal fees, accounting fees, and other expenses incurred in connection with disputes with tenants or occupants of the building or associated with the enforcement of the terms of any leases with tenants or the defense of Lessor’s title or interest in the building or any party thereof except as a result of Lessee defaults.
11. Costs (including permits, licensing, and inspection fees) incurred in renovations or otherwise improving, decorating, painting, or altering space for other tenants or other occupants or of vacant space (excluding common areas) in the building.
12. Cost incurred due to the default of any other tenant of the building pursuant to the terms and conditions of a lease.
13. Cost of any service provided to tenants or other occupants of the building for which Lessor is reimbursed.
14. Lessor shall not collect in excess of one hundred percent (100%) of operating expenses.
15. Interest on indebtedness or any costs of finance or refinancing the building, building equipment, or building improvements, replacements, or repairs provided Lessee promptly pays their pro-rata share of all of these items.
Appears in 1 contract
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) of the total common area charges as defined below. Tenant’s 's percentage share of common area charges shall be paid as follows. : Tenant’s 's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s 's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s 's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges18 "Xxxxxx xxxx xxxxxxx,” as " xs used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s 's share of any such capital improvement shall equal Tenant’s 's proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; : (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s 's accounting and processing services.
Appears in 1 contract
Samples: Sublease (Medibuy Com Inc)
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred fifty and ten one hundredths percent (100.0050.10%) of the total common area charges as defined below. Tenant’s 's percentage share of common area charges shall be paid as follows. : Tenant’s 's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s 's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s 's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “"Common area charges,” " as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s 's share of any such capital improvement shall equal Tenant’s 's proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; : (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s 's accounting and processing services.
Appears in 1 contract
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent 28.7% (100.00%29,424 [divided by] 102,528 square feet) of the total common area charges Common Area Charges as defined belowin this lease. Tenant further agrees that Common Area Charges shall include an additional 5% of the actual expenditures for the aggregate of all other Common Area Charges in order to compensate Landlord for accounting and processing services. Tenant’s 's percentage share of common area charges Common Area Charges shall be paid as follows. Tenant’s estimated monthly payment : At or prior to the commencement of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior and to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafterterm, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment total Common Area Charges during the balance of common area chargesthe calendar year in which the term commences and each succeeding calendar year, respectively. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(bcalendar year (or portion thereof) of the leasecovered by such estimate, its monthly percentage months share of common area charges Common Area Charges as estimated by Landlordshown on such estimate. Within one hundred twenty thirty (12030) days of the end of each calendar year and of the termination end of this lease (or as soon as practicable thereafter)the term, Landlord shall deliver to Tenant a statement of actual common area charges Common Area Charges incurred for the preceding year, or, in the case of a statement after the end of the term, covering the year in which the lease terminates. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges Common Area Charges if actual or projected common area charges Common Area Charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s obligation 's obligations with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expirationtermination. “Landlord shall allow Tenant reasonable access to Landlord's books and records respecting Common area charges,” as used in this lease, Area Charges. Tenant shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization entitled to cause a certified public accountant to perform an audit of such capital improvements having a useful life greater than one year as Landlord may have installed the statement of actual Common Area Charges for the purpose preceding year, and in the event such audit shall establish that the amount shown on such statement overstates by more than two percent (2%) the amount Tenant is liable for then Landlord shall promptly reimburse to Tenant any sums overpaid by Tenant, together with interest on the overpaid amounts at the rate of reducing operating costs and/or to comply with governmental rules ten percent (10%) per annum and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to audit. In the remaining term of event such audit shall not establish such overstatement, Tenant shall pay the lease over the useful life entire cost of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing servicesaudit.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Novellus Systems Inc)
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred nineteen and seventy-five one hundredths percent (100.0019.75%) of the total common area charges as defined below. Tenant’s 's percentage share of common area charges is determined by the square footage of the Premises (17,470 square feet) divided by the total square footage of the Project (88,450 square feet). Tenant's percentage share of common area charges shall be paid as follows. : Tenant’s 's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b4 (b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s 's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b4 (b) of the this lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter)) , Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency excess amount due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s 's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “"Common area charges,” " as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as required to be made by Landlord to the Common Area pursuant to this lease or that Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental all laws, rules and regulations promulgated after completion of the building federal, state, county, municipal and other governmental authorities now or hereinafter in effect (Tenant’s 's share of any such capital improvement shall equal Tenant’s 's proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvementimprovement and the determination of what constitutes a capital improvement and the useful life thereof shall be reasonably made by Landlord in accordance with generally accepted accounting principles); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; and (vii) all other reasonable operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing services.
Appears in 1 contract
Common Area Charges. Tenant Lessor shall arrange and pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) the contractors for maintenance of the total common area charges Common Areas including snow plowing and landscaping and maintenance of exterior structural items such as defined belowthe roof and parking areas, with all of same to be charged back the Lessee as a Common Area Maintenance charge. Tenant’s percentage share Lessor shall, in advance of common area the first day of each month, remit an invoice to Lessee for all such Additional Rent items to include the monthly charge for taxes, insurance and CAM. Monthly charges shall initially be paid based upon Lessor's estimation of expenses which at present are $3.52 per square foot (i.e., $8,037.33 per month). If, during any particular Lease Year, there is a change in the information on which Lessor based the estimate upon which Lessee is then making its payment so that such statement furnished to Lessee is no longer accurate, Lessor shall be permitted as follows. Tenant’s estimated monthly payment of common area charges payable reasonably necessary to revise such statements by Tenant during notifying Lessee, and there shall be such adjustments made in the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rent, Additional Rent on the first day of each the month during following the term in accordance with paragraph 4(b) serving of such statement on Lessee as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Lessee for the balance of the lease, its monthly share Lease Year (but in no event shall any such decrease result in a reduction of common area charges as estimated by Landlordthe Rent below the Monthly Rent plus all other actual amounts of Additional Rent). Lessor's and Lessee's responsibilities with respect to the Additional Rent described herein shall survive for two (2) years after the expiration or early termination of this Lease. Within one hundred twenty (120) 120 days of following the end conclusion of each calendar year and of Calendar Year (or within 90 days following the termination of this lease (or as soon as practicable thereafter), Landlord shall Lease) Lessor will deliver to Tenant a statement of to Lessee detailing the actual common area charges incurred for during the preceding yearprior Calendar Year ("Final Statement") and the monthly statement will be adjusted to reflect such actual charges. If such statement shows that Tenant has paid for less than its actual percentage, then Tenant Lessee shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves have the right to revise any estimate review the books and records of common area charges if actual or projected common area charges show Lessor relating only to expenses shown on the itemized statement provided said review request is made within six months after receipt of the Final Statement. Failure to request a timely review shall be deemed a waiver of this right for all time. If an increase or decrease in excess error of greater than 10% from any earlier estimate for is disclosed by the same periodaudit, then Lessor agrees to reimburse Lessee's reasonable cost to audit, no to exceed $5,000. In such eventthe event Lessee's review demonstrates an error in Lessor's Final Statement, Landlord an appropriate adjustment will be made on the next monthly statement or Lessor shall deliver reimburse Lessee if the revised estimate to Tenant, together with an explanation of the reasons therefore, and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s obligation with respect to adjustments at the end of the term Lease has expired or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing servicesterminated.
Appears in 1 contract
Common Area Charges. In addition to the above basic rent and as additional rent, Tenant shall pay to Landlord, as additional rent, an amount equal to One Landlord the sum of Thirty-six Thousand Nine Hundred percent Twelve Dollars (100.00%$36,912.00) on or before the first day of the total first (1st) full calendar month of the Lease Term and on the first day of each and every successive calendar month, said sum representing Tenant’s payment of “common area charges as defined belowcharges”. Tenant’s percentage share Payment of common area charges for any partial month shall be paid as follows. Tenant’s estimated payable in advance and shall be prorated at the rate of 1/30th of the monthly payment of common area charges payable by per day. If Tenant during vacates the Premises in its entirety prior to the expiration of the Lease Term, then Tenant shall have no further obligation for payment of common area charges for the remainder of the Lease Term, the common area charge for the calendar year month in which Tenant vacates the term commences is set forth in paragraph 4(b) Premises shall be prorated as specified above, and Landlord shall return to Tenant any prorated portion of this lease. Prior such common area charge applicable to the commencement portion of each succeeding such calendar year month after the date of such vacation. As used in this Lease, “common area charges” shall mean Tenant’s contribution to the term costs incurred by Landlord under Paragraphs 9 (or as soon as practicable thereafterMaintenance and Repair), 11 (Insurance), 12 (Utilities), 13 (Taxes) and 15 (Common area maintenance). Landlord shall deliver to and Tenant agree and acknowledge that the common area charges are a written reasonable estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) anticipated share of the lease, its monthly share of common area charges as estimated that will be incurred by LandlordTenant on a monthly basis under this Lease, and that such monthly amount shall be binding on the parties. Within one hundred twenty (120) days Subject to Section 12, Tenant’s sole obligation with respect to such common area charges shall be payment of the end of each calendar year and of the termination of monthly common area charge set forth in this lease (or as soon as practicable thereafterParagraph 4(b), Landlord and Tenant shall deliver have no further obligation with respect to Tenant a statement of such charges, even if the actual common area charges incurred for by Landlord are higher or lower than the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, then Tenant shall on demand pay to Landlord the monthly amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefore, and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used set forth in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvementParagraph 4(b); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing services.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Integrated Device Technology Inc)
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred fifty-five and 52/100 percent (100.0055.52%) of the total common area charges as defined below. Tenant’s 's percentage share of common area charges shall be paid as follows. : Tenant’s 's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s 's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s 's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as As used in this lease, "common area charges" shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental all laws, rules and regulations promulgated after completion of the building federal, state, county, municipal and other governmental authorities now or hereinafter in effect (Tenant’s 's share of any such capital improvement shall equal Tenant’s 's proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s 's accounting and processing services.
(i) any costs occasioned by a breach of the obligations of Landlord, or the negligence of Landlord, its agents, employees or contractors, (ii) costs related to any construction defects existing as of the commencement date of this lease, (iii) any costs related to remediation of Hazardous Materials in, on or about the Premises or the Project (this shall not limit Tenant's obligations set forth in paragraph 49 of this lease), and (iv) any costs for which Landlord has a right of reimbursement from third parties.
Appears in 1 contract
Samples: Lease (Novacept Inc)
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred (i) twenty percent (100.0020%) of the total common area charges as defined belowof the Project and (ii) 100% of the common area charges of the building in which the Premises are located. There shall be no duplication of costs in items (i) and (ii) of the preceding sentence. Tenant’s 's percentage share of such common area charges shall be paid as follows. : Tenant’s 's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s 's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. Upon Tenant's written request made within ninety (90) days after receipt of the statement, Landlord shall provide Tenant with copies of invoices and other documentation in support thereof. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s 's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as As used in this lease, "common area charges" shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental all laws, rules and regulations promulgated after completion of the building federal, state, county, municipal and other governmental authorities now or hereafter in effect (Tenant’s 's share of any such capital improvement shall equal Tenant’s 's proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s 's accounting and processing services.
Appears in 1 contract
Samples: Lease (Exodus Communications Inc)
Common Area Charges. Tenant Lessee shall pay to LandlordLessor, as additional rentRent, an amount equal to One Hundred percent (100.00%) Lessee’s pro-rata share of the total common area charges of the Premises as defined below. Tenant’s percentage share of below (the common area charges for the Premises is referred to herein as (“CAC”)). Lessee shall be paid pay to Lessor as follows. TenantRent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of One Thousand One Hundred and Sixty-Five Dollars ($1,165.00), said sum representing Lessee’s estimated monthly payment of common area charges Lessee’s percentage share of CAC and includes a fixed monthly sum of One Hundred and Fifty Dollars ($150.00) which represents the long term capital reserve for replacement of HVAC units, parking lot, roof and painting of building exterior (“Capital Reserves”). It is understood and agreed that Lessee’s obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term and adjusted based on the square footage occupied. Lessee’s estimated monthly payment of CAC payable by Tenant Lessee during the calendar year in which the term Lease commences is set forth in paragraph 4(b) of this leaseabove. Prior At or prior to the commencement of each succeeding calendar year of the term (or as soon as practicable practical thereafter), Landlord Lessor shall deliver to Tenant a written estimate of Tenantprovide Lessee with Lessee’s estimated monthly payment of common area charges. Tenant for CAC which Lessee shall pay, pay to Lessor as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by LandlordRent. Within one hundred twenty (120) approximately 120 days of the end of each the calendar year and the end of the termination of this lease (or as soon as practicable thereafter)Lease Term, Landlord Lessor shall deliver to Tenant provide Lessee a statement of actual common area charges CAC incurred including capital reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Tenant Lessee has paid for less than its actual percentage, then Tenant Lessee shall on demand pay to Landlord Lessor the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant Lessee has paid more than its actual percentage share percentage, then Landlord Lessor shall, at its option, promptly refund such excess to Tenant Lessee or credit the amount thereof to the common area charge Rent next becoming due from TenantLessee. Landlord Lessor reserves the right to revise any estimate of common area charges CAC if the actual or projected common area charges CAC show an increase or decrease in excess of 10% from any an earlier estimate for the same period. In such event, Landlord Lessor shall deliver the provide a revised estimate to TenantLessee, together with an explanation of the reasons thereforetherefor, and Tenant Lessee shall revise its monthly payments accordingly. LandlordLessor’s and TenantLessee’s obligation with respect to adjustments at the end of the term Lease Term or earlier expiration of this lease Lease shall survive such termination the Lease Term or earlier expiration. “Common area charges,” as As used in this leaseLease, CAC shall include, include but is not be limited to, : (i) all items identified as specified in paragraphs 8Sections 5(b), 96, 11, 12, 13 16 and 16 as being common area charges31; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating all costs and/or and expenses including but not limited to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the ProjectPremises, Building and Common Area; (viii) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (viiiv) all other operating costs incurred by Landlord Lessor in maintaining and operating the ProjectPremises, Building and Common Area; (v) Capital Reserves replacements and government regulations imposed on the Premises, Building and Common Area not related to Lessee’s use and occupancy of the Premises; and (viiivi) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges $.02 per square foot, as compensation for LandlordLessor’s accounting and processing management services. Lessee shall have the right to review the basis and computation analysis used to derive the CAC applicable to this Lease annually.
Appears in 1 contract
Samples: Standard Form Multi Tenant Lease (Occam Networks Inc/De)
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) 28.63% of the total common area charges Common Area Charges as defined belowin this lease. Tenant further agrees that Common Area Charges shall include an additional 5% of the actual expenditures for the aggregate of all other Common Area Charges in order to compensate Landlord for accounting and processing services. Tenant’s 's percentage share of common area charges Common Area Charges shall be paid as follows. Tenant’s estimated monthly payment : At or prior to the commencement of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior and to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafterterm, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment total Common Area Charges during the balance of common area chargesthe calendar year in which the term commences and each succeeding calendar year, respectively. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(bcalendar year (or portion thereof covered by such estimate) of the lease, its percentage monthly share of common area charges Common Area Charges as estimated by Landlordshown on such estimate. Within one hundred twenty thirty (12030) days of the end of each calendar year and of the termination end of this lease (or as soon as practicable thereafter)the term, Landlord shall deliver to Tenant a statement of the actual common area charges Common Area Charges incurred for the preceding year, or, in the case of a statement after the end of the term, covering the year in which the lease terminates. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges Common Area Charges if actual or projected common area charges Common Area Charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s obligation 's obligations with respect to adjustments at the end of the term expiration or earlier expiration termination of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s accounting and processing servicestermination.
Appears in 1 contract
Common Area Charges. Tenant Lessee shall pay to LandlordLessor, as additional rentRent, an amount equal to One Hundred percent (100.00%) Lessee's prorata share of the total common area charges of the Premises as defined below. Tenant’s percentage share of below (the common area charges for the Premises is referred to herein as ("CAC")). Lessee shall be paid pay to Lessor as follows. Tenant’s Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided below, the sum of Nine Thousand Six Hundred Twelve Dollars($9,612), said sum representing Lessee's estimated monthly payment of common area charges Lessee's percentage share of CAC and includes a fixed monthly sum of Fourteen Hundred Seven Dollars ($1,407.00) which represents the long term capital reserve for replacement of existing HVAC units, parking lot, roof and painting of building exterior ("Capital Reserves"). It is understood and agreed that Lessee's obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. Lessee's estimated monthly payment of CAC payable by Tenant Lessee during the calendar year in which the term Lease commences is set forth in paragraph 4(b) of this leaseabove. Prior At or prior to the commencement of each succeeding calendar year of the term (or as soon as practicable practical thereafter), Landlord Lessor shall deliver to Tenant a written estimate of Tenant’s provide Lessee with Lessee's estimated monthly payment of common area charges. Tenant for CAC which Lessee shall pay, pay to Lessor as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by LandlordRent. Within one hundred twenty (120) 120 days of the end of each the calendar year and the end of the termination of this lease (or as soon as practicable thereafter)Lease Term, Landlord Lessor shall deliver to Tenant provide Lessee a statement of actual common area charges CAC incurred including Capital Reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Tenant Lessee has paid for less than its actual percentage, then Tenant Lessee shall on demand pay to Landlord Lessor the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant Lessee has paid more than its actual percentage share percentage, then Landlord Lessor shall, at its option, promptly refund such excess to Tenant Lessee or credit the amount thereof to the common area charge Rent next becoming due from TenantLessee. Landlord Lessor reserves the right to revise any estimate of common area charges CAC if the actual or projected common area charges CAC show an increase or decrease in excess of 10% from any an earlier estimate for the same period. In such event, Landlord Lessor shall deliver the provide a revised estimate to TenantLessee, together with an explanation of the reasons therefore, and Tenant Lessee shall revise its monthly payments accordingly. Landlord’s Lessor's and Tenant’s Lessee's obligation with respect to adjustments at the end of the term Lease Term or earlier expiration of this lease Lease shall survive such termination the Lease Term or earlier expiration. “Common area charges,” as As used in this leaseLease, CAC shall include, include but is not be limited to, : (i) all items identified as specified in paragraphs 8Sections 5(b), 96, 11, 12, 13 16 and 16 as being common area charges31; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating all costs and/or and expenses including but not limited to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the ProjectPremises; (viii) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (viiiv) all other operating costs incurred by Landlord Lessor in maintaining and operating the ProjectPremises; (v) Capital Reserves replacements and government regulations imposed on the Premises not related to Lessee's use and occupancy of the Premises; and (viiivi) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges $.02 per square foot per month, as compensation for Landlord’s Lessor's accounting and processing management services. Lessee shall have the right to review the basis and computation analysis used to derive the CAC applicable to this Lease annually.
Appears in 1 contract
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred forty-one and three one hundredths percent (100.0041.03%) of the total common area charges as defined below. Tenant’s 's percentage share of common area charges shall be paid as follows. : Tenant’s 's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s 's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. Landlord’s 's and Tenant’s 's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “"Common area charges,” " as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s 's share of any such capital improvement shall equal Tenant’s 's proportionate share of the fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; : (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project; and (viii) an amount equal to five percent (5%) of the actual expenditures for the aggregate of all other common area charges as compensation for Landlord’s 's accounting and processing services. Notwithstanding the foregoing, common area charges shall not include any management fees other than the fee (equal to five percent (5%) of the cost of all other common area charges) as compensation for Landlord's accounting and processing services which is specifically referenced herein. In addition, common area charges shall not include (i) the cost of maintenance and repair of structural elements of the Premises excluding the roof and exterior walls or (ii) the cost of bringing the Premises into compliance with laws, statutes, ordinances and governmental rules, regulations or requirements (except for the Americans with Disabilities Act ), as in effect at the execution date of this lease as described in paragraph 7 of this lease. Capital improvements with an estimated useful life in excess of one (1) year shall be amortized as provided in paragraph 56 of this lease.
Appears in 1 contract
Samples: Standard Industrial Lease (Monolithic System Technology Inc)
Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) 17.40% of the total common area charges as defined below. Tenant’s percentage share of common area charges shall be paid as follows. : Tenant’s estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this leaseLease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the leasethis Lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease Lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year, which statement shall be certified as being accurate to the actual knowledge of an officer of Landlord’s management company. If such statement shows that Tenant has paid for less than its actual percentage, percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demandreceipt of the statement. If Tenant fails to pay the deficiency within such ten (10) day period, Tenant shall pay an additional ten five percent (105%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shallshall credit the amount of such excess to Tenant’s percentage share of common area charges next becoming due under the Lease, at its optionor if the Lease has terminated, promptly refund return such excess to Tenant or credit concurrently with delivery of the amount thereof to the common area charge next becoming due from Tenantstatement. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of ten percent (10% %) from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons thereforetherefor, and Tenant shall revise its payments accordingly. LandlordXxxxxxxx’s and TenantXxxxxx’s obligation with respect to adjustments at the end of the term or earlier expiration of this lease Lease shall survive such termination or expiration. Within ninety (90) days after receipt of the statement of actual common area charges for the prior calendar year described above or any other demand by Landlord for reimbursement pursuant to this Lease, Tenant shall have the right to request in writing from Landlord, and Landlord shall provide, reasonable “backup” documentation, including copies of invoices, substantiating any common area charge or requested reimbursement. Tenant shall have no right, pending the receipt of any documentation, to withhold any payment of the common area charges or any other amount actually owed by Tenant under this Lease. “Common area charges,” as used in this leaseLease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 15 as being common area charges; (ii) amortization of such capital repairs, replacements, improvements or alterations having a useful life greater than one (1) year (any such capital repair, replacement, improvement or alteration being a “Capital Expenditure”) as Landlord may have performed or installed for the purpose of reducing operating costs and/or to comply with governmental all laws, rules and regulations promulgated after completion of the building (Tenant’s share of any federal, state, county, municipal and other governmental authorities now or hereinafter in effect, such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal Capital Expenditure(s) to the remaining term of the lease be amortized over the useful life of the Capital Expenditure(s) in question with interest thereon at five percent (5%) (and Tenant shall pay its percentage share of the monthly amortized portion of any such capital improvementCapital Expenditure(s) during the remaining term of this Lease (plus any option term and/or other extension(s) of the term of this Lease)); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, non-capital equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; and (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord in maintaining and operating the Project. Notwithstanding the foregoing, common area charges shall not include and, subject to the third (3rd) subparagraph of paragraph 11 hereof, no other provision of this Lease shall impose upon Tenant a requirement to pay directly or reimburse Landlord for any of the following: (a) costs occasioned by casualties (except that Tenant shall pay Tenant’s percentage share of any deductible applicable to casualty insurance (which percentage share shall not exceed Ten Thousand Dollars ($10,000))) or by the exercise of the power of eminent domain by a public or quasi-public authority; (b) management fees or accounting fees or the cost of any on-site or off-site management personnel; (c) costs incurred to repair latent construction defects in the Premises not resulting from Alterations or Permitted Alterations performed by or on behalf of Tenant; (d) costs incurred by Landlord arising from claims, disputes or potential disputes between Landlord and individual tenants in the Project or any other third person with respect to the Project; (e) marketing and promotional costs, leasing commissions or fees in lieu of commissions or other costs incurred in procuring tenants, lenders or buyers; (f) costs occasioned by the intentional act or violation of law, rule, regulation, covenant, condition, restriction or fire underwriter’s requirement by Landlord, any other occupant of the Project, or their respective agents, employees or contractors; (g) costs to replace any underground utilities from the street to the Project or replacements of the structural elements of the Project; (h) any taxes which are separately assessed to another tenant of the Project as a result of such tenant’s over-standard improvements; (i) estate, inheritance, transfer, gift, or franchise taxes of Landlord or any federal or state income tax on income from all sources (except a tax on rent); (j) depreciation or other expense reserves; (k) interest, charges and fees incurred on debt, payments on mortgages and rent under ground leases; (l) costs of sculptures, fountains, paintings and other art objects; (m) costs incurred with respect to any Hazardous Materials (except to the extent the Hazardous Material was introduced to the Premises by Tenant, its subtenants or assigns, or their respective employees, agents or contractors); (n) the cost of repairs, replacements and general maintenance to the extent Landlord receives reimbursement for such costs in the same calendar year as incurred from insurance proceeds, warranties, guaranties or third parties (provided, however, if any such reimbursement is not received in the calendar year when such expense was incurred, the reimbursement shall be applied to common area charges for the calendar year in which such reimbursement is received (and, if the Lease has terminated, Landlord shall reimburse Tenant for its percentage share of any such reimbursement on the later of (A) the date Landlord delivers the statement described in the second (2nd) subparagraph of this paragraph 16 or (B) the date that is thirty (30) days after the date Landlord receives such reimbursement)); and (viiio) an amount equal to five percent (5%) insurance premiums in excess of the actual expenditures for the aggregate premiums reimbursable by Tenant pursuant to paragraph 11 of all other common area charges as compensation for Landlord’s accounting and processing servicesthis Lease.
Appears in 1 contract
Samples: Lease (Hemosense Inc)
Common Area Charges. Tenant Lessee shall pay to LandlordLessor, as additional rentRent, an amount equal to One Hundred its pro rata share of the total common area charges of the Project and one hundred percent (100.00100%) of the total common area charges as defined below. Tenant’s percentage share of for the Building (the common area charges for the Project and the common area charges for the building collectively referred to herein as ("CAC")). Lessee shall be paid pay to Lessor as follows. Tenant’s Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Sixteen Thousand Five Hundred Dollars ($16,500), said sum representing Lessee's estimated monthly payment of common area charges Lessee's percentage share of CAC. It is understood and agreed that Lessee's obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. Upon execution of this Lease, Lessee shall deposit with Lessor the first month's estimated CAC. Lessee's estimated monthly payment of CAC payable by Tenant Lessee during the calendar year in which the term Lease commences is set forth in paragraph 4(b) of this leaseabove. Prior At or prior to the commencement of each succeeding calendar year of the term (or as soon as practicable practical thereafter), Landlord Lessor shall deliver to Tenant a written estimate of Tenant’s provide Lessee with Lessee's estimated monthly payment of common area charges. Tenant for CAC which Lessee shall pay, pay to Lessor as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by LandlordRent. Within one hundred twenty (120) 120 days of the end of each the calendar year and the end of the termination of this lease (or as soon as practicable thereafter)Lease Term, Landlord Lessor shall deliver to Tenant provide Lessee a statement of actual common area charges CAC incurred including capital reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Tenant Lessee has paid for less than its actual percentage, then Tenant Lessee shall on demand pay to Landlord Lessor the amount of 2 such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant Lessee has paid more than its actual percentage share percentage, then Landlord Lessor shall, at its option, promptly refund such excess to Tenant Lessee or credit the amount thereof to the common area charge Rent next becoming due from TenantLessee. Landlord Lessor reserves the right to revise any estimate of common area charges CAC if the actual or projected common area charges CAC show an increase or decrease in excess of 10% from any an earlier estimate for the same period. In such event, Landlord Lessor shall deliver the provide a revised estimate to TenantLessee, together with an explanation of the reasons thereforetherefor, and Tenant Lessee shall revise its monthly payments accordingly. Landlord’s Lessor's and Tenant’s Lessee's obligation with respect to adjustments at the end of the term Lease Term or earlier expiration of this lease Lease shall survive such termination the Lease Term or earlier expiration. “Common area charges,” as As used in this leaseLease, CAC shall include, include but are not be limited to, (i) all items identified specified as CAC items in paragraphs 8Paragraphs 5(b), 6, 9, 11, 12, 13 16 and 16 as being common area charges31; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating utility costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the fraction of the cost of such capital improvement equal related to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance common areas of the Project (or the building in which the Premises are located"Project" is shown on Exhibit A.2) (iii) all costs and payroll taxes applicable thereto; (iv) expenses including but not limited to supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (viv) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (viiv) all other operating costs incurred by Landlord Lessor in maintaining and operating the Project; (vi) all reserves for capital replacements; and (viiivii) an amount equal to five two and one-half percent (52.5%) of the actual expenditures for the aggregate of all other common area charges CAC, as compensation for Landlord’s Lessor's accounting and processing services. Lessee shall have the right to review the CAC applicable to this Lease annually.
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Samples: Lease Agreement (On Command Corp)