Common Area Costs. (a) During each calendar year or portion thereof included in the Term and any renewal thereof, commencing on the Rent Commencement Date, Tenant shall pay to Landlord, as additional rent, Tenant’s Proportionate Share of Common Area Costs. Tenant’s Proportionate Share of Common Area Costs (“Tenant’s Proportionate Share”) shall equal Tenant’s Common Area Costs Percentage times the annual Common Area Costs of the Shopping Center. Tenant’s Common Area Costs Percentage is one and 07/100 percent (1.07%) which percentage represents the ratio of the approximate gross leasable area of the Premises to the total approximate gross leasable area of the Shopping Center. In the event that the gross leasable area of the Shopping Center or the Premises is increased or decreased, the Tenant’s Common Area Costs Percentage shall be recalculated and adjusted. Tenant’s percentage share of Common Area Costs shall be the percentage set forth above, except as follows: If any space in the Shopping Center is leased to a tenant who is separately responsible for paying the cost of a service that would otherwise be included in Common Area Costs, the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center for the purpose of determining Tenant’s percentage share of the balance of the cost of such services. Additionally, if any space in the Shopping Center is leased to a tenant who creates an exemption from any category of Common Area Costs so as to reduce the Shopping Center’s total cost of the same proportion to that tenant’s leasable area, then the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center for the purpose of determining Tenant’s percentage share of such category of Common Area Costs. (b) As used in Section 3.5(a) above, the term “Common Area Costs” shall mean all the costs and expenses of every kind and nature paid or incurred by Landlord in each calendar year in operating, managing, cleaning, protecting, equipping, lighting, repairing, replacing and maintaining all Common Areas in the Shopping Center. Such costs and expenses shall include, without limitation (including appropriate reserves), (1) the cost of maintaining, repairing or replacing all service pipes, electric, gas, and water lines and sewer mains leading to and from the Premises and other premises in the Shopping Center; (2) gas, electricity, water, sanitary sewer, storm sewer and other utility charges (including surcharges of every type and nature for services provided to the Common Areas incurred in operating the Shopping Center); (3) all costs incurred in painting (including painting of exterior walls), gardening, landscaping, and for traffic control; (4) the cost of public liability insurance, property damage insurance, and all other insurance coverage carried by Landlord for all land and improvements comprising the Shopping Center (including worker’s compensation and fidelity bonds); (5) all costs for repairs, maintenance and improvements including but not limited to, roof repairs, maintenance and replacement; sidewalk and street repair, maintenance and replacement; sign repair and maintenance; line painting and striping; lighting; decorations; sanitary and drainage control; public address system; security systems; cleaning; removal of snow, trash and rubbish; and depreciation on machinery and equipment used in such improvements, maintenance or repair; (6) costs of personnel, if any, to direct parking and to provide security for the Common Areas and facilities, management fees and personnel costs, including, but not limited to salaries, wages, fringe benefits and other direct or indirect costs of engineers, superintendents, watchmen, security, porters and other Shopping Center personnel, costs of service and maintenance contracts; (7) depreciation (on a straight line basis) of all capital expenditures made by Landlord to the extent such capital expenditures are made with the intention to reduce Common Area Costs or comply with any governmental law, order, requirement or regulation; and (8) Landlord’s administrative costs and overhead costs in an amount, in the aggregate, equal to five percent (5 %) of the total of all other Common Area Costs. For purposes of this Section 3.5, the term “Shopping Center” shall include the Land (as defined in Section 3.6).
Appears in 1 contract
Common Area Costs. (a) During each calendar year or portion thereof included in the Term initial term of this Lease and any renewal extension thereof, commencing on the Rent Commencement Date, Tenant shall pay to reimburse Landlord, as additional rent, Tenant’s 's Proportionate Share of Common Area Costs. Tenant’s Proportionate Share of the Common Area Costs (“Tenant’s Proportionate Share”) shall equal Tenant’s Common Area Costs Percentage times the annual Common Area Costs of the Shopping Center. Tenant’s Common Area Costs Percentage is one and 07/100 percent (1.07%) which percentage represents the ratio of the approximate gross leasable area of the Premises defined below), pursuant to the total approximate gross leasable area of the Shopping Center. In the event that the gross leasable area of the Shopping Center or the Premises is increased or decreased, the Tenant’s Common Area Costs Percentage shall be recalculated and adjusted. Tenant’s percentage share of Common Area Costs shall be the percentage set forth Section 4.4 above, except as follows: If any space in the Shopping Center is leased to a tenant who is separately responsible for paying the cost of a service that would otherwise be included in Common Area Costs, the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center for the purpose of determining Tenant’s percentage share of the balance of the cost of such services. Additionally, if any space in the Shopping Center is leased to a tenant who creates an exemption from any category of Common Area Costs so as to reduce the Shopping Center’s total cost of the same proportion to that tenant’s leasable area, then the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center for the purpose of determining Tenant’s percentage share of such category of Common Area Costs.
(b) As used in Section 3.5(a) above, the The term “Common Area Costs” shall mean all the actual direct costs and expenses of every kind and nature reasonably paid or incurred by Landlord in during each calendar year during the term hereof in operating, managing, cleaning, protecting, equipping, lighting, repairing, replacing maintaining and maintaining all Common Areas in the Shopping Center. Such costs and expenses shall include, without limitation (including appropriate reserves), (1) the cost of maintaining, repairing or replacing all service pipes, electric, gas, and water lines and sewer mains leading to and from the Premises and other premises in the Shopping Center; (2) gas, electricity, water, sanitary sewer, storm sewer and other utility charges (including surcharges of every type and nature for services provided to operating the Common Areas incurred in operating the Shopping Center); (3) all costs incurred in painting (Areas, including painting of exterior walls)cleaning, gardeninglighting, landscaping, striping and minor patching of the parking areas (but excluding any repaving of such parking areas), premiums for traffic control; insurance required hereunder, wages and salaries of personnel employed for such operation and maintenance (4) to the cost extent such charges directly apply to the operation and maintenance of public liability insurance, property damage insurance, and all other insurance coverage carried by Landlord for all land and improvements comprising the Shopping Center (including worker’s compensation and fidelity bonds); (5) all costs for repairs, maintenance and improvements including but not limited to, roof repairs, maintenance and replacement; sidewalk and street repair, maintenance and replacement; sign repair and maintenance; line painting and striping; lighting; decorations; sanitary and drainage control; public address system; security systems; cleaning; removal of snow, trash and rubbish; and depreciation on machinery and equipment used in such improvements, maintenance or repair; (6) costs of personnel, if any, to direct parking and to provide security for the Common Areas and facilitiesAreas), management fees and personnel costscharges for utilities consumed connection with such work, including, but not limited to salaries, wages, fringe benefits and other direct or indirect costs of engineers, superintendents, watchmen, professional security, porters and other Shopping Center personnel, costs of service and maintenance contracts; (7) depreciation (on a straight line basis) of all capital expenditures made by Landlord to the extent equipment or machinery used in such capital expenditures are made with the intention to reduce maintenance and which reduces such Common Area Costs Costs, and seven and one-half percent (7.5%) of all such costs (excluding Taxes, any other personal property, sales, or comply with any governmental lawother taxes, orderInsurance, requirement or regulation; and (8) utilities) for Landlord’s 's administrative costs and overhead management fees. In addition, Area shall include all costs in an amount, in the aggregate, equal to five percent (5 %) incurred by Landlord repaving all or any part of the total Common Areas from and after the date which is seven (7) years after the Commencement Date: provided, however, that such repaving costs shall be amortized on a straight line basis over a period of all other Common Area Costsseven (7) years, and if Tenant's Proportionate Share of such repaving costs, as as set forth above, would exceed the sum of Seven Thousand Fifty Dollars ($7,050) per sq. For purposes ft.), then any such excess amount shall be payable by Tenant during the next succeeding year, subject to the same limitation. Any such excess amounts shall continue to be carried forward and be payable by Tenant for succeeding years, until such time that such amounts may be paid by Tenant without exceeding such limitation, provided that Tenant shall have no obligation to pay for any such repaving costs remaining unamortized upon the expiration or termination of this Section 3.5Lease. Notwithstanding the foregoing, the term “Shopping Center” shall include the Land (as defined in Section 3.6).Area
Appears in 1 contract
Sources: Lease Agreement
Common Area Costs. (a) During each calendar year or portion thereof included The cost of maintaining, repairing, landscaping, painting, and operating the Common Areas of the Elm Road Medical Campus, to be set forth in the Term Declaration of Protective Covenants and Restrictions for Elm Road Medical Campus dated December 20, 2007 and recorded on January 18, 2008 as Document Number 0802055 in the office of the Recorder of St. J▇▇▇▇▇ County, Indiana (“Declaration”) pursuant to an amendment to the Declaration, shall specifically include, but not necessarily limited to: repairs to, striping and patching of the parking areas or other Common Areas, lighting, removal of snow, ice, trash, rubbish and other refuse from the Common Areas, costs associated with any renewal thereofof Landlord’s obligations set forth in Section 7.2, commencing and the cost of leasing or the depreciation on any equipment used to implement the Rent Commencement Date, foregoing maintenance. Tenant shall pay to Landlord, as additional rent, Tenant’s Proportionate Share of Common Area Costs. Tenant’s Proportionate Percentage Share of Common Area Costs (“Tenant’s Proportionate Share”) herein in accordance with the Declaration as provided in Section 7.3. The Declaration amendment shall equal Tenant’s Common Area Costs Percentage times the annual Common Area Costs of the Shopping Center. Tenant’s Common Area Costs Percentage is one and 07/100 percent (1.07%) which percentage represents the ratio of the approximate gross leasable area of the Premises to the total approximate gross leasable area of the Shopping Center. In the event provided that the gross leasable area of the Shopping Center or the Premises is increased or decreased, the Tenant’s Common Area Costs Percentage shall be recalculated and adjusted. Tenant’s percentage share of Common Area Costs shall be specifically exclude the percentage set forth above, except as followsfollowing: If any space in the Shopping Center is leased to a tenant who is separately responsible for paying the cost of a service that would otherwise be included in Common Area Costs, the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center any item for the purpose of determining Tenant’s percentage share of the balance of which Landlord is reimbursed by insurance or otherwise; the cost of such services. Additionally, if any space repairs made in the Shopping Center is leased accordance with Landlord’s obligations pursuant to a tenant who creates an exemption from any category of Common Area Costs so as to reduce the Shopping Center’s total cost of the same proportion to that tenant’s leasable area, then the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center for the purpose of determining Tenant’s percentage share of such category of Common Area Costs.
(b) As used in Section 3.5(a) above, the term “Common Area Costs” shall mean all the costs and expenses of every kind and nature paid or incurred by Landlord in each calendar year in operating, managing, cleaning, protecting, equipping, lighting, repairing, replacing and maintaining all Common Areas in the Shopping Center. Such costs and expenses shall include, without limitation (including appropriate reserves), (1) 6.1; the cost of maintaining, repairing or replacing all service pipes, electric, gas, and water lines and sewer mains leading to and from the Premises and other premises in the Shopping Center; (2) gas, electricity, water, sanitary sewer, storm sewer and other utility charges (including surcharges of every type and nature for services provided any additions to the Common Areas incurred in operating pursuant to an expansion of the Shopping CenterElm Road Medical Campus’s leasable square footage; Tenant’s Percentage Share of Real Estate Taxes or Insurance (which are provided for by separate agreement herein); the cost of any alterations, additions, changes, replacements, improvements and repairs and other items which under generally accepted accounting and auditing principles consistently applied (3as pertaining to the real estate industry) all are properly classified as capital expenditures (except as provided herein) or which are made in order to prepare space for occupancy by a new tenant or other occupant of the Elm Road Medical Campus; the cost of any initial installations for any tenant or other occupant of the Elm Road Medical Campus; reserves for the replacement or repair of portions of, or for equipment and machinery used in connection with, the Elm Road Medical Campus; legal, accounting and other professional fees; interest or amortization payments in connection with the Elm Road Medical Campus; leasing commissions, advertising expenses and other costs incurred in painting (including painting leasing or attempting to lease any portion of exterior walls), gardening, landscaping, and for traffic controlthe Elm Road Medical Campus; (4) the cost of public liability insuranceany services, property damage insurancemaintenance, or repairs performed specifically for certain tenants and not for the common use and benefit of all other insurance coverage carried by Landlord for all land the tenants of the Elm Road Medical Campus; the cost of correcting defects in the construction of the buildings, improvements and improvements comprising equipment of the Shopping Center Elm Road Medical Campus; the cost of Landlord’s membership (including worker’s compensation and fidelity bonds); (5costs related thereto) all costs for repairs, maintenance and improvements including but not limited to, roof repairs, maintenance and replacement; sidewalk and street repair, maintenance and replacement; sign repair and maintenance; line painting and striping; lighting; decorations; sanitary and drainage control; public address system; security systems; cleaning; removal of snow, trash and rubbishin any organizations representing Elm Road Medical Campus owners; and depreciation on machinery and equipment used in such improvements, maintenance any political or repair; (6) costs of personnel, if any, to direct parking and to provide security for the Common Areas and facilities, management fees and personnel costs, including, but not limited to salaries, wages, fringe benefits and other direct or indirect costs of engineers, superintendents, watchmen, security, porters and other Shopping Center personnel, costs of service and maintenance contracts; (7) depreciation (on a straight line basis) of all capital expenditures made by Landlord to the extent such capital expenditures are made with the intention to reduce charitable contributions. Common Area Costs or comply with any governmental law, order, requirement or regulation; and payable by Tenant during the first (8) Landlord’s administrative costs and overhead costs in an amount, in the aggregate, equal to five percent (5 %1st) Lease Year of the total Lease Term are estimated at Twelve Thousand AND 00/100 DOLLARS ($12,000,00), payable by Tenant in twelve (12) equal installments during the first (1st) Lease Year of all other Common Area Costs. For purposes the Lease Term of this Section 3.5, the term “Shopping Center” shall include the Land One Thousand AND 00/100 DOLLARS (as defined in Section 3.6)$1,000.00) per month.
Appears in 1 contract
Sources: Facility Lease Agreement (Global Medical REIT Inc.)
Common Area Costs. (a) During each calendar year or portion thereof included in the Term and any renewal thereof, commencing on the Rent Commencement Date, Tenant shall pay to Landlord, as additional rent, Tenant’s Proportionate Share of Common Area Costs. Tenant’s Proportionate Share of Common Area Costs (“Tenant’s Proportionate Share”) shall equal Tenant’s Common Area Costs Percentage times the annual Common Area Costs of the Shopping Center. Tenant’s Common Area Costs Percentage is one and 07/100 percent (1.07%) which percentage represents the ratio of the approximate gross leasable area of the Premises to the total approximate gross leasable area of the Shopping Center. In the event that the gross leasable area of the Shopping Center or the Premises is increased or decreased, the Tenant’s Common Area Costs Percentage shall be recalculated and adjusted. Tenant’s percentage share of Common Area Costs shall be the percentage set forth above, except as follows: If any space in the Shopping Center is leased to a tenant who is separately responsible for paying the cost of a service that would otherwise be included in Common Area Costs, the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center for the purpose of determining Tenant’s percentage share of the balance of the cost of such services. Additionally, if any space in the Shopping Center is leased to a tenant who creates an exemption from any category of Common Area Costs so as to reduce the Shopping Center’s total cost of the same proportion to that tenant’s leasable area, then the leasable area of such tenant’s space shall be excluded from the leasable area of the Shopping Center for the purpose of determining Tenant’s percentage share of such category of Common Area Costs.
(b) As used in Section 3.5(a) abovethis Lease, the term “Common Area Costs” shall mean all the costs and expenses of every kind and nature paid or incurred by Landlord in each calendar year in operatingwith respect to the maintenance, managing, cleaning, protecting, equipping, lighting, repairing, replacing and maintaining all Common Areas in the Shopping Center. Such costs and expenses shall include, without limitation (including appropriate reserves), (1) the cost of maintainingservicing, repairing or replacing all service pipes, electric, gas, and water lines and sewer mains leading to and from operation of the Premises and other premises in the Shopping Center; (2) gas, electricity, water, sanitary sewer, storm sewer and other utility charges (including surcharges of every type and nature for services provided to the Common Areas incurred in operating the Shopping Center); (3) all costs incurred in painting (including painting of exterior walls), gardening, landscaping, and for traffic control; (4) the cost of public liability insurance, property damage insurance, and all other insurance coverage carried by Landlord for all land and improvements comprising the Shopping Center (including worker’s compensation and fidelity bonds); (5) all costs for repairs, maintenance and improvements including but not limited to, roof repairs, maintenance and replacement; sidewalk and street repair, maintenance and replacement; sign repair and maintenance; line painting and striping; lighting; decorations; sanitary and drainage control; public address system; security systems; cleaning; removal of snow, trash and rubbish; and depreciation on machinery and equipment used in such improvements, maintenance or repair; (6) costs of personnel, if any, to direct parking and to provide security for the Common Areas and facilities, management fees and personnel costsProperty, including, but not limited to salariesthe following: maintenance, wagesrepair, fringe benefits and replacement costs; electricity, fuel, water, sewer, gas and other direct utility charges; security; exterior window washing; trash; snow and ice removal; landscaping and pest control; janitorial services for the Premises, HVAC maintenance, repair and replacement for all units servicing the Premises (subject to paragraph 5 above and excluding any charges related to repairs or indirect costs maintenance due to failure of engineersproper air distribution), superintendentsmanagement fees payable to Landlord, watchmen, security, porters Landlord’s affiliates or third parties; wages and other Shopping Center personnel, costs benefits payable to employees of service Landlord whose duties are directly connected with the operation and maintenance contractsof the Property; (7) depreciation (on a straight line basis) all services, supplies, repairs, replacement or other expenses for maintaining and operating the Property; the cost, including interest, amortized over its useful life, of all any capital expenditures improvement made to the Property by Landlord after the date of this Lease which is required under any governmental law or regulation that was not applicable to the extent such capital expenditures are made with Property at the intention time it was constructed; the cost, including interest, amortized over its useful life, of installation of any device or other equipment which improves the operating efficiency of any system within the Premises and thereby reduces operating expenses; all other expenses which generally would be regarded as operating and maintenance expenses which would reasonably be amortized over a period not to reduce Common Area Costs exceed five years; all real property taxes and installments of special assessments, including dues and assessments by means of deed restrictions and/or owner’s association which accrue against the Property during the term of this Lease; governmental levies or comply with charges of any governmental lawkind or nature assessed or imposed on the Property, orderwhether by state, requirement county, city or regulationany political subdivision thereof; and (8) Landlord’s administrative costs all insurance premiums Landlord is required to pay or deems necessary to pay, including public liability insurance, with respect to the Property. This Section outlines types of services Landlord may provide and overhead costs include in an amount, in the aggregate, equal to five percent (5 %) of the total of all other Common Area Costs. For purposes of this Section 3.5The term Common Area Costs does not include the following: expenses for repairs, restoration or other work occasioned by fire, wind, the term “Shopping Center” elements or other casualty that are covered by insurance; income and franchise taxes of Landlord; expenses incurred in leasing to or procuring of tenants, leasing commissions, advertising expenses and expenses for the renovating of space for new tenants; interest or principal payments on any mortgage or other indebtedness of Landlord; compensation paid to any employee of Landlord above the grade of property manager; any depreciation allowance or expenses; or operating expenses which are the responsibility of Tenant, or any other Tenant on the Property. Tenant shall include have the Land (right to audit Landlord’s Books and Records as defined set forth in Section 3.6)the Addendum.”
Appears in 1 contract
Sources: Lease Amendment (Liposcience Inc)