Direct Operating Expenses. The Servicer shall be reimbursed for any Direct Operating Expenses not already reimbursed to the Servicer, in accordance with the priorities set forth in Section 302(b) of the related Indenture; provided that the Servicer shall, if requested, provide to the ICI Indenture Trustee, the Administrative Agent, each Registered Pledgee, each Lease Enhancer, each Lessor Note Enhancer, each Series Enhancer and each Control Party requesting the same, any and all invoices and receipts evidencing such Direct Operating Expenses.
Direct Operating Expenses. All direct costs of operation and maintenance determined by standard accounting practices which shall include all costs, expenses and disbursements of every kind and nature which Lessor shall pay or become obligated to pay in connection with the management, operation, maintenance, replacement and repair of all buildings, improvements and land comprising the Building and of the personal property, fixtures, machinery, equipment, systems and apparatus located in or used in connection therewith. By way of illustration, Direct Operating Expenses shall include but not be limited to the following: electricity, lamps, fluorescent tubes, ballasts, steam, fuel, utility costs, utility taxes, water (including sewer charges and/or rental), casualty and liability insurance, repairs and cleaning, janitorial supplies, management fees, service contracts with independent contractors, telephone, grounds maintenance, stationary advertising, equipment necessary for the maintenance and operation of the Building, reasonable reserves for operating expenses, salaries, wages, payroll charges and/or taxes, worker's compensation, hospitalization, medical, surgical, and general welfare benefits (including life insurance) and pension payments of employees of Lessor engaged in the operation and maintenance of the Building of which the Demised Premises form a part. ("Direct Operating Expenses" shall not include depreciation on the Building of which the Demised Premises are a part or equipment therein, loan payments, real estate brokers commissions, or capital expenditures for tenant finish expenses for other tenants or capital improvements to said building.)
Direct Operating Expenses. 7 7.1. Landlord to Maintain and Control Outside Areas................. 7 7.2. Tenant to Pay.................................................. 7 7.3. Monthly Payments............................................... 9
Direct Operating Expenses. 16 7.1 Landlord to Maintain and Control Outside Areas. . . . . . . . . . . . . . 16 7.2 Tenant to Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 7.3
Direct Operating Expenses. RTS's budget for Direct Operating Expenses for the first twelve (12) months of the Term of this Agreement has been approved by BAHI and is listed in Exhibit C. During the term of this Agreement, revisions to the operating budget may be made for unbudgeted scope changes with the prior approval of BAHI. Thereafter during the Term of this Agreement, RTS shall submit a budget for RTS's Direct Operating Expenses and a business plan for the Center for the upcoming year by November 1 of the current year. Such budget for Direct Operating Expenses and business plan for the Center must be approved in writing by BAHI prior to December 30 of such current year. No RTS Direct Operating Expenses shall be reimbursed by BAHI to RTS until such budget and business plan are approved, in writing by BAHI. BAHI shall reimburse RTS for the Direct Operating Expenses that have been budgeted, incurred and approved by BAHI, monthly, in arrears, after submission of such Direct Operating Expenses to BAHI by RTS. RTS shall, upon the request of BAHI, supply BAHI with all information requested by BAHI concerning the Direct Operating Expenses.
Direct Operating Expenses. For purposes of calculating Buyer's Net Operating Income after the Closing Date, (a) the Net Operating Income of Parent's Houston and Dallas/Ft. Worth-based fueling operations will be included in Buyer's Net Operating Income. and (b) any Ineligible Collections Rebates paid to the Company will be excluded from Buyer's Net Operating Income.
Direct Operating Expenses. In addition to the rent specified in Paragraph 2 hereof, Tenant and Landlord agree that an annual adjustment in the rent shall be made as hereinafter provided:
(a) Landlord and Tenant covenant and agree that the rent provided for herein is subject to annual review and adjustment in order that the Tenant shall pay for its individual share of any increase of the Direct Operating Expenses (as hereinafter defined) of the Office Park. Such review and adjustment shall be made as of the first day of the first full calendar month of each Lease Year (as hereinafter defined) during the term of this Lease. For the purpose of this Lease, the term "Lease Year" shall mean each consecutive twelve (12) calendar month period during the term of this Lease commencing on the first day of the first full calendar month during or after the calendar month Tenant commences to pay rent pursuant to Paragraph 2 above. The Base Year with which all future year comparisons shall be made is 2000. Any future year increase over the Base Year shall be paid on a prorata basis by Tenant, in the following manner: Prior to the commencement of the second and each subsequent Lease Year (or as soon thereafter as is reasonably practicable), Landlord shall estimate the Direct Operating Expenses for the Office Park for such Lease Year. In the event that for any Lease Year, Landlord's estimated Direct Operating Expenses for the Office Park shall exceed the Direct Operating Expenses for the Base Year, Tenant shall pay monthly as additional rent, concurrently with Tenant's monthly rental payment during said Lease Year, an amount equal to one-twelfth (1/12) of such excess, divided by the amount of square feet contained in the Office Park, times the amount of square footage in the demised Premises. For the purposes of this Paragraph 21, the amount of square footage in the demised Premises shall be deemed to be FORTY-TWO THOUSAND SIX HUNDRED SIXTY-SEVEN (42,667) useable square feet (useable square footage in the demised Premise to be adjusted as per the new BOMA calculation following BOMA re-measurement identified on Page 1 of this Lease) and the amount of square footage in the Office Park shall be deemed to be One Hundred Twenty Six Thousand (126,000) square feet.
Direct Operating Expenses. In addition to the rent specified in Paragraph 2 ----------- hereof, Tenant and Landlord agree that an annual adjustment in the rent shall be made as hereinafter provided:
(a) Landlord and Tenant covenant and agree that the rent provided for herein is subject to annual review and adjustment in order that the Tenant shall pay for its individual share of any increase of the Direct Operating Expenses (as hereinafter defined) of the Office Park.
Direct Operating Expenses a. For purposes hereof:
i) For purposes of this Paragraph 6, Parking Structure shall mean the Parking Structure adjacent to the Building as more particularly described in that certain Declaration of Covenants, Conditions and Restrictions for Parking Facility made as of January 26, 1987 by Landlord as Declarant, which was recorded on February 19, 1987, as document number 87-089650 of the Official Records of San Diego County, California.
Direct Operating Expenses. In addition to the rent provided for above, Tenant shall pay as additional rent hereunder Tenant’s Prorata Share as hereinafter defined and as further provided below:
(i) As used herein, the term “Tenant’s Prorata Share” shall mean, for any period, the positive amount, if any, determined by (a) deducting Base Expenses for the period (prorated in the case of partial years) from Operating Expenses for such period and, (b) multiplying the difference by a fraction, the numerator of which shall be the Net Rentable Area of the Premises, excluding the Storage Area, which is 269,480 and the denominator of which shall be 425,540 (the Net Rentable Area of the Building excluding storage areas, health club facility and building conference room). As used herein, “Operating Expenses” shall mean all expenses of every kind incurred and paid by Landlord with respect to the management, operation, maintenance and repair (including the cost of any capital improvements or repairs amortized over such reasonable period commencing after completion of such improvements or repairs as Landlord reasonably determines (the amortization period selected by Landlord shall reflect the useful life of the improvement or repair) together with interest on the unamortized balance at the prime rate at the time of such capital improvements or repairs (i) which are required to replace existing items which have worn out, (ii) which are required to refurbish the lobby area of the Building or other common areas in order to maintain the Building at the then current standards for first-class office building complexes, or (iii) which are required under any governmental laws or regulations) of the Building, the parking garage associated therewith, the land under the Building and the garage and all appurtenances including, without limitation, real and personal property taxes (including community improvement district assessments), insurance, administrative expenses, the cost of providing physical security and security personnel to the Building including, but not limited to, security contracts, security supplies and miscellaneous security expenses including, but not limited to, recruiting, training, rent and general administrative expenses associated with the security operation, communication systems, uniforms, vehicles, vehicle maintenance and any other security service supplied or paid for by Landlord on behalf of the Building, energy and other utility costs, janitorial service costs, the Building’s prora...
