Common use of Excess Operating Costs Clause in Contracts

Excess Operating Costs. Tenant shall pay to Landlord Xxxxxx’s Proportionate Share of Excess Operating Costs. As used herein, “Excess Operating Costs” means any increases in Operating Costs (defined below) for each year and partial year of the Term over the Operating Costs incurred during the Base Year. Landlord may make a good faith estimate of Excess Operating Costs to be due by Tenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar year of the Term after the Base Year, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to Tenant’s estimated Excess Operating Costs for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord may estimate and re-estimate the Excess Operating Costs to be due by Xxxxxx and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Excess Operating Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year. Operating Costs, for the sole purpose of determining Excess Operating Costs, shall not increase by more than 5% annually, on a cumulative and compounding basis (the “Cost Cap”). Notwithstanding the foregoing, non-controllable Operating Costs (which are costs that Landlord incurs for insurance, security services, utilities, management not to exceed market rates, and seasonal storm clean-up) are not subject to the Cost Cap.

Excess Operating Costs. Commencing on the first (1st) anniversary of the Commencement Date, and continuing thereafter throughout the Term, Tenant shall pay to Landlord XxxxxxTenant’s Proportionate Share of Excess Operating Costs. As used herein, “Excess Operating Costs” means any increases in Operating Costs (defined below) for each year and partial year of the Term over the Operating Costs incurred during the Base Year. Landlord may make a good faith estimate of Excess Operating Costs to be due by Tenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar year of the Term after the Base Year, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to Tenant’s estimated Excess Operating Costs Costs, as estimated by Landlord, for such calendar year or part thereof divided by the number of months therein. From time to time, but not more frequently than two (2) times per calendar year, Landlord may estimate and re-estimate the Excess Operating Costs to be due by Xxxxxx and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Excess Operating Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year. Operating Costs, for the sole purpose of determining Excess Operating Costs, shall not increase by more than 5% annually, on a cumulative and compounding basis (the “Cost Cap”). Notwithstanding the foregoing, non-controllable Operating Costs (which are costs that Landlord incurs for insurance, security services, utilities, management not to exceed market rates, and seasonal storm clean-up) are not subject to the Cost Cap.

Excess Operating Costs. Tenant shall pay to Landlord XxxxxxTenant’s Proportionate Share of Excess Operating Costs. As used herein, “Excess Operating Costs” means any increases in Operating Costs (defined below) for each year and partial year of the Term over the Operating Costs incurred during the Base Year. Landlord may make a good faith estimate of Excess Operating Costs to be due by Tenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar year of the Term after the Base Year, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to Tenant’s estimated Excess Operating Costs for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord may estimate and re-estimate the Excess Operating Costs to be due by Xxxxxx Tenant and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Excess Operating Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year. Operating Costs, for the sole purpose of determining Excess Operating Costs, shall not increase by more than 5% annually, on a cumulative and compounding basis (the “Cost Cap”). Notwithstanding the foregoing, non-controllable Operating Costs (which are costs that Landlord incurs for insurance, security services, utilities, management not to exceed market rates, and seasonal storm clean-up) are not subject to the Cost Cap.

Excess Operating Costs. Tenant shall pay to Landlord Xxxxxx’s Land -lord Tenant's Proportionate Share of Excess Operating Costs. As used herein, “"Excess Operating Costs” " means any increases increase in Operating Costs (defined below) for each year and partial year of the Term over the Operating Costs incurred during the Base Year. Landlord may make a good faith estimate of Excess Operating Costs to be due by Tenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar year of the Term after the Base Year, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to Tenant’s 's estimated Excess Operating Costs for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord may estimate and re-estimate the Excess Operating Costs to be due by Xxxxxx Tenant and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Excess Operating Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year. Operating Costs, for the sole purpose of determining Excess Operating Costs, shall not increase by more than 5% annually, on a cumulative and compounding basis (the “Cost Cap”). Notwithstanding the foregoing, non-controllable Operating Costs (which are costs that Landlord incurs for insurance, security services, utilities, management not to exceed market rates, and seasonal storm clean-up) are not subject to the Cost Cap.