Costs of Operation and Maintenance Sample Clauses

Costs of Operation and Maintenance. The Landlord shall determine the amount by which its budgeted cost of operation and maintenance of the Building for the current year are estimated to increase or decrease relative to the maximum amount of costs of operation and maintenance of the Building to be borne by Landlord for the base year as set forth in paragraph 1.07. The term “costs of operation and maintenance” shall be deemed to mean those expenses actually incurred by Landlord with respect to the operation and maintenance of the Building which, in accordance with accepted principles of sound accounting practice as consistently applied to the operation and maintenance of a generally first-class building, are properly chargeable to the operation and maintenance of the Building including, without limitation, utilities, heating, air conditioning, repair and maintenance, (which under generally accepted accounting principles would not be capitalized), cost of janitorial and other services and maintenance contracts therefore, supplies, wages and salaries of employees used in the management (but not any salaries or wages for employees or agents above the grade of on-site building operation or management) of the Building, and payroll taxes with respect thereto, or alternatively the cost of contracting for the management services with a third party, a Landlord administration fee of fifteen (15%) percent of operating expenses (excluding property taxes), depreciation (on personal property owned by Landlord) or rental of personal property used in the maintenance of the Building, insurance, including fire and extended coverage, public liability and property damage and workmen’s compensation insurance and war risk and earthquake insurance and such other insurance to the extent customarily carried by the owners of first-class office buildings within the limits of Salt Lake County, property taxes as hereinafter defined, and other charges directly and properly related to the operation and maintenance of the Building. Landlord shall exclude from the cost of operation and maintenance any and all expenses relating to any operation, maintenance or supplies provided and furnished by any Tenant at Tenant’s own expense, and any expense, otherwise chargeable as part of the cost of operation and maintenance, that solely benefits a specific tenant in the Building. Notwithstanding anything contained in the Lease, no expenses incurred for the following shall be included in costs of operation and maintenance herein:
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Costs of Operation and Maintenance. PARTICIPANT shall own all facilities in the substation that PARTICIPANT needs to operate its own system and that VT Transco does not need to operate its system, as determined by VT Transco ("Exclusive Facilities"). Other than Exclusive Facilities owned by one or more PARTICIPANTS, VT Transco shall own all facilities in the substation. VT Transco shall determine the O&M costs for each substation. For each substation in which a PARTICIPANT owns Exclusive Facilities, it shall pay a portion of the O&M costs, such portion to be determined by dividing the original cost of that PARTICIPANT’S Exclusive Facilities in that substation by the total original cost of the entire substation, including any PARTICIPANT’S Exclusive Facilities in that substation and any other facilities in that substation. VT Transco shall issue an invoice to PARTICIPANT each month, identifying the amount of O&M costs that PARTICIPANT owes for each substation in which it owns Exclusive Facilities. Such amounts shall be payable within 10 days of issuance of the invoice. Any amount due and remaining unpaid 10 days following the date of issuance of the invoice shall bear interest at an annual rate to be calculated in accordance with regulations of the Federal Energy Regulatory Commission, codified in the Code of Federal Regulations, Volume 18, Section 35.19a, as such regulations may be amended from time to time. .
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Costs of Operation and Maintenance. The term "Costs of Operation and ----------------------------------- Maintenance" shall be defined as those expenses incurred by Landlord with respect to the repair, alteration, improvement, replacement, operation and maintenance of the Premises, Property and Parking Facilities, in accordance with accepted principles of sound accounting practice and industry standards as applied to the operation, maintenance and security of a first-class office building, which costs shall include but not limited to the following:
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Costs of Operation and Maintenance. Costs of operation and maintenance of each substation shall be determined and billed monthly and shall be payable within 10 days of billing. The portion of operation and maintenance costs to be paid by PARTICIPANT shall be determined by multiplying the sum of all costs of operation and maintenance of equipment at the substation, as recorded in FERC Accounts 562 and 570, by a fraction of which the numerator is PARTICIPANT'S Exclusive Costs and the denominator equals the original cost of the substation plus the original cost of any capital additions, as booked to VELCO’s Account No. 353, plus Exclusive Costsis. the sum of all costs of station equipment in the substation, including Exclusive Costs, as recorded in FERC Account 353.
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Costs of Operation and Maintenance. VT Transco shall determine the O&M costs for each substation. For each substation in which a PARTICIPANT owns Exclusive Facilities, it shall pay a portion of the O&M costs, such portion to be determined by multiplying the sum of all costs of operation and maintenance of equipment at the substation, as recorded in FERC Accounts 562 and 570, by a fraction of which the numerator is PARTICIPANT'S Exclusive Costs and the denominator equals the original cost of the substation plus the original cost of any capital additions, as booked to VT Transco’s Account No. 353, plus any Exclusive Costs for that substation. VT Transco shall issue an invoice to PARTICIPANT each month, identifying the amount of O&M costs that PARTICIPANT owes for each substation in which it owns Exclusive Facilities. Such amounts shall be payable within 10 days of issuance of the bill. Any amount due and remaining unpaid 10 days following the date of issuance of the invoice shall bear interest from that date until the amount due is paid at the FERC Interest Rate.
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Costs of Operation and Maintenance. During the term of this Parking Agreement, Developer shall be solely responsible for all costs and expenses incurred for operating and maintaining, or causing to be operated and maintained, the Xxxxxxxx Garage, in accordance with the terms of this Parking Agreement.
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Costs of Operation and Maintenance. If due to the occurrence of an event for which LIPA is responsible under Section 6.11 hereof, there shall be an increase in the Manager's cost of Construction Work or Operation and Maintenance Services, the amount of any such incremental cost increase shall be borne by LIPA to the extent it is responsible therefor under Section 6.11
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Costs of Operation and Maintenance. The Operations and Maintenance Expenses for the Common Use Assets shall be initially allocated between CRC (“CRC Expense Allocation”) and JVC as more particularly described on Exhibit C-4 (“JVC Expense Allocation,” and together with the CRC Expense Allocation, the “Expense Allocation(s)”). The Expense Allocations set forth on Exhibit C-4 were established by the Parties as of the Effective Date. If an Owner believes that the initial Expense Allocation set forth on Exhibits C-4 or an Expense Allocation that has been previously adjusted in accordance with the provisions of this Section, no longer fairly and equitably allocates the Operations and Maintenance Expenses for that Common Use Asset and related Services, that Owner may give CRSC a written proposal (and CRSC shall give the other Owner a copy of this proposal), setting forth a proposed change in the Expense Allocation for that Common Use Asset and related Services. If the non-requesting Owner does not reply to CRSC’s notice within thirty (30) days of receiving the proposal (which will be deemed a rejection of the proposal), timely rejects the proposal or timely proposes an alternate allocation, a designated Representative of each Owner shall meet in person, or by video conference, to negotiate with one another, in a commercially reasonable manner, in an effort to agree on a revised Expense Allocation in response to such proposal. To the extent that Owners are unable to reach such an agreement within one-hundred eighty (180) days after the non-requesting Owner’s receipt of the proposal, then the dispute will be resolved in accordance with the provisions of Article XIV. To the extent Owners agree to a revised Expense Allocation for a Common Use Asset and related Services, or the Expense Allocation is revised pursuant to the provisions of Article XIV, then the Parties shall amend Exhibit C-4 to reflect such revised Expense Allocation.
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Related to Costs of Operation and Maintenance

  • Maintenance of Operations The Company shall maintain operations at the Project for a minimum of ten (10) years beginning on the date the Project is Placed in Service. In addition to any other rights the Department may have under the terms of this Agreement, in the event that the Company discontinues of operations at the Project, such discontinuation may subject the Company to certain statutory provisions, including:

  • Operation and Maintenance 17.1 O&M obligations of the Concessionaire

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Definition of Operating Expenses (a) Subject to the exclusions and provisions hereinafter contained, the term "

  • Continuity of Operations (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Statement of Operations d. Statement of Changes in Net Assets.

  • Interim Operations (a) The Company covenants and agrees as to itself and its Subsidiaries that, from and after the execution of this Agreement and prior to the Effective Time (unless Parent shall otherwise approve in writing, which approval shall not be unreasonably withheld, conditioned or delayed, and except as (1) required by applicable Law, (2) expressly required by this Agreement or (3) otherwise expressly disclosed in Section 6.1(a) of the Company Disclosure Letter), the Company shall use its reasonable best efforts to conduct its business and the business of its Subsidiaries in the ordinary course of business consistent with past practice and each of the Company and its Subsidiaries shall, subject to compliance with the specific matters set forth below, use reasonable best efforts to preserve its business organization intact and maintain the existing relations and goodwill with Governmental Entities, customers, suppliers, distributors, licensors, creditors, lessors, employees and business associates and others having material business dealings with it and keep available the services of the Company and its Subsidiaries’ present employees and agents. Without limiting the generality of, and in furtherance of, the foregoing, the Company covenants and agrees as to itself and its Subsidiaries that, from and after the date of this Agreement and prior to the Effective Time, except (A) as required by applicable Law, (B) as Parent may approve in writing (such approval not to be unreasonably withheld, conditioned or delayed), (C) as expressly disclosed in Section 6.1(a) of the Company Disclosure Letter or (D) as expressly provided for in this Agreement, the Company shall not and will not permit any of its Subsidiaries to:

  • Conduct of Operations The Board of Directors and the General Partner shall use commercially reasonable efforts to conduct the business of the Partnership and its Affiliates in a manner that does not require a holder of Common Units to file a tax return in any jurisdiction with which the holder has no contact other than through ownership of Common Units.

  • Operation and Maintenance of Properties The Borrower, at its own expense, will, and will cause each Subsidiary to:

  • Hours of Operation Tenant will carry on its business diligently and continuously in the Premises and will keep the Premises open for business not less than sixteen (16) consecutive hours each day seven (7) days per week, including holidays. Director or his/her representative may, from time to time, change such required hours of operation, in which event, Tenant will remain open during such revised hours. Similarly, Tenant may, from time to time, request to revise its hours of operation. Such change must be approved by Director or his/her representative, in writing, prior to its occurrence. Tenant may not, at any time, vacate or abandon the Premises.

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