Controllable Operating Expenses. Notwithstanding the foregoing, commencing with calendar year 2018 and each calendar year during the Term thereafter, it is understood and agreed that for purposes of calculating Tenant’s Proportionate Share of the Operating Expenses in any calendar year during the Term, the maximum amount of Controllable Operating Expenses (as hereinafter defined) included in Operating Expenses for any calendar year from and after 2018 during the Term (such maximum amount of Controllable Operating Expenses, the “Cap”) shall be limited to the actual amount of Controllable Operating Expenses paid or incurred by Landlord on account of or in calendar year 2017, which Cap shall be increased on a cumulative, compounding basis at five percent (5%) per annum through the applicable calendar year. Tenant shall remain fully liable in each year for the whole amount of Tenant’s Proportionate Share of the Operating Expenses which are not Controllable Operating Expenses. In the event that the Cap applies to limit Tenant’s Proportionate Share of the Operating Expenses attributable to Controllable Operating Expenses for any calendar year, the excluded amount shall be carried forward to succeeding calendar years and recaptured by Landlord so long as the amount of Controllable Operating Expenses does not exceed the Cap (as increased each year) in any such succeeding year. For purposes of clarity, it is acknowledged and agreed that Tenant’s responsibility for Controllable Operating Expenses in any calendar year shall not exceed (i) the Cap (as the same is adjusted annually), or (ii) the actual amount of Controllable Operating Expenses paid or incurred by Landlord in such calendar year, whichever is less. For purposes herein, the term “Controllable Operating Expenses” shall mean only (i) the cost of repairs, replacements, maintenance and cleaning, including, without limitation, the cost of janitorial and other service agreements, and trash removal with respect to Common Areas; (ii) the cost of all repairs and maintenance associated with the landscaped areas, surface parking areas and truck courts of the Property, the cost of associated roof maintenance in connection with the Property; and (iii) fees, charges and other costs, including, without limitation, consulting fees, attorneys’ fees and accounting fees of all contractors engaged by Landlord in connection with the operation, maintenance or repair of the Property.
Controllable Operating Expenses. Landlord hereby agrees that any increases in the Controllable Operating Expenses (as hereinafter defined) shall not exceed five percent (5%) cumulatively from the previous years’ Controllable Operating Expenses as to Tenant’s Pro-Rata Share (it is recognized that that Tenant holds a Partial Premises Termination Right and Lease Termination Right and that extra expenses incurred by Landlord based upon Tenant’s election to lease less than the entire Premises, shall be permitted to be charged as Operating Expenses and not excluded because they have increased Operating Expenses beyond the foregoing limit, if such costs and expenses were not payable by Landlord while Tenant leased the entire Building). “Controllable Operating Expenses” shall mean all Operating Expenses and expenses excluding insurance premiums, Real Estate Taxes, utilities for the Common Areas, costs of security, damages not covered by insurance resulting from acts of god, damages not covered by insurance caused by Tenant, its employees, guests or invitees and additional costs incurred while Tenant no longer leases the entire Premises, owner’s association fees or costs and expenses paid under the applicable covenants, conditions and restrictions, applicable easements, or any document recorded against or for the benefit of the Project, fees for required licenses and permits for the Building, the costs of any unionized labor or government mandated wage or benefit increases associated with services provided to the Building, and similar costs and expenses where the rates are set by third party providers.
Controllable Operating Expenses. Commencing with calendar year 2013 and each calendar year during the Term thereafter, it is understood and agreed that for purposes of calculating Operating Expenses in any calendar year during the Term (for purposes of this Section, the “Remaining Term”), the maximum amount of Controllable Operating Expenses included in Operating Expenses for any calendar year from and after 2012 during the Remaining Term shall be limited to the actual amount of Controllable Operating Expenses paid or incurred by Landlord on account of or in calendar year 2012, increased on a cumulative, compounding basis at five percent (5%) per annum through the applicable calendar year. In the event that the cap applies to limit the Operating Expenses attributable to Controllable Operating Expenses for any calendar year, the excluded amount shall be carried forward to succeeding calendar years and recaptured by Landlord so long as the foregoing limit on the increase in the portion of Operating Expenses attributable to Controllable Operating Expenses is not exceeded in any such succeeding year such that amounts that could not be included in Operating Expenses during such prior years may be re-captured by Landlord.
Controllable Operating Expenses. 9 substantially all of Tenant’s assets ............
Controllable Operating Expenses. Landlord hereby agrees that any increases in the Controllable Operating Expenses (as hereinafter defined) shall not exceed five percent (5%) from the previous years’ Controllable Operating Expenses. “Controllable Operating
Controllable Operating Expenses. The following paragraphs shall replace the second paragraph of Section 4(b)
Controllable Operating Expenses. The increase in Controllable Operating Expenses for each calendar year used to calculate Tenant’s Additional Rent due under this Section 3.3 shall not increase after the first full calendar year of the Term by more than four percent (4%) per year on a cumulative, compounded basis, over a base amount which shall be the actual amount of Controllable LEASE AGREEMENT 12
Controllable Operating Expenses. ATTACHED TO AND A PART OF THE LEASE AGREEMENT DATED OCTOBER 6TH, 1998, BETWEEN -------------------------------- PROLOGIS NORTH CAROLINA LIMITED PARTNERSHIP ------------------------------------------- and GLAS-CRAFT, INC. ----------------
Controllable Operating Expenses. Notwithstanding the foregoing provisions of Section 4(c)(ii), in determining Tenant’s Proportionate Share of Operating Expenses for any calendar year, the portion of Operating Expenses for such calendar year which constitute Controllable Operating Expenses (as hereinafter defined) shall not exceed one hundred five percent (105%) of the amount of Controllable Operating Expenses (as hereinafter defined) actually passed through to Tenant for the immediately preceding calendar year (the “Controllable Operating Expenses Cap”). As used herein, “Controllable Operating Expenses” shall mean all Operating Expenses except for the following: (i) utility company charges; (ii) insurance premiums; (iii) the cost to remove snow and ice; (iv) increased labor costs due to requirements for use of labor subject to collective bargaining, (v) costs of compliance with Legal Requirements first applicable to the Property after the Commencement Date; and (vi) the cost of providing security for the Building (if any). The Controllable Operating Expenses Cap is not cumulative (i.e., the unused portion of one particular calendar year’s cap shall not be carried forward to absorb any future Operating Expenses that would otherwise be in excess of the cap for such subsequent calendar years, nor shall any amount of Controllable Operating Expenses that are in excess of the cap be included in any subsequent calendar year calculations of the amount of Controllable Operating Expenses to be passed through to Tenant).
Controllable Operating Expenses. Notwithstanding anything in this Lease or Exhibit "C" attached hereto to the contrary, Tenant shall not be liable to Landlord for any aggregate increase in Controllable Operating Expenses (defined below) in excess of four percent (4%) over the Controllable Operating Expenses paid in the prior calendar year, with such excess to be borne by Landlord at Landlord's sole cost and expense. As used herein, "Controllable Operating Expenses" shall mean Operating Expenses which can be reasonably controlled by Landlord and shall not include insurance costs, Real Property Taxes and Assessments or Utilities Costs. Operating Expenses shall not be deemed to be "Controllable Operating Expenses" if Landlord exercises reasonable efforts to obtain competitive bids for the Operating Expense items in question and is not able to obtain a lower bid from a reasonably qualified contractor or service provider, for the same quality and quantity of items or services; provided, however, if Landlord fails to seek bids for an Operating Expense item that is likely to result in bids of varying prices, or if Landlord bids out work for an Operating Expense item and Landlord does not select the lowest bid from a reasonably qualified contractor or service provider, for the same quality and quantity of items or services, then such Operating Expenses shall be deemed to be Controllable Operating Expenses.
