Excluded Costs. “ Excluded Costs” means the following expenses, as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): (i) depreciation, interest, and amortization on mortgages or ground lease payments, (ii) legal fees incurred in negotiating and enforcing tenant leases, (iii) real estate brokers’ leasing commissions, (iv) initial improvements or alterations to tenant spaces, (v) the cost of providing any service directly to and paid directly by any individual tenant, if the cost of providing such service would have otherwise been included in Building’s Operating Costs, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which Landlord receives reimbursement from insurance proceeds or a third party (such costs shall be excluded from Operating Expenses in the year in which the reimbursement is received), but any deductible amount under any insurance policy shall be included within Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (x) costs incurred due to Landlord’s breach of a lease, law, or ordinance, (xi) repairs necessitated by the gross negligence or willful misconduct of Landlord, (xii) the cost of earthquake or flood insurance, unless required by Landlord’s Lender and in such event an amount reasonably estimated by Landlord to approximate the cost of such coverage as if such coverage been carried during the Base Year shall be added to Direct Expenses for the Base Year, (xiii) overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or to the building or for supplies or other materials to the extent that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid to any executive employees above the grade of building manager, (xx) the cost of correcting any building code or other violations which were violations prior to the Lease Commencement Date, and (xxi) the cost of containing, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was not caused by Tenant.
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Samples: www.sec.gov, Modified Gross Office Lease (Bakbone Software Inc)
Excluded Costs. “ “Excluded Costs” means the following expenses, shall be defined as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): (i) depreciation, any mortgage charges (including interest, principal, points and amortization on mortgages or ground lease payments, fees); (ii) legal fees incurred in negotiating and enforcing tenant leases, brokerage commissions; (iii) real estate brokers’ leasing commissions, salaries of executives and owners not directly employed in the management/operation of the Property; (iv) initial improvements or alterations to tenant spaces, the cost of work done by Landlord for a particular tenant; (v) the cost of providing items which, by generally accepted accounting principles, would be capitalized on the books of Landlord or are otherwise not properly chargeable against income, except to the extent permitted pursuant to Section A (i) or (ii) above; (vi) the costs of Landlord’s Work and any service directly contributions made by Landlord to and any tenant of the Property in connection with the build-out of its premises; (vii) franchise or income taxes imposed on Landlord; (viii) costs paid directly by individual tenants to suppliers, including tenant electricity, telephone and other utility costs; (ix) increases in premiums for insurance when such increase is caused by the use of the Building by Landlord or any individual tenantother tenant of the Building; (x) maintenance and repair of capital items not a part of the Building or the Property; (xi) depreciation of the Building; (xii) costs relating to maintaining Landlord’s existence as a corporation, if partnership or other entity; (xiii) advertising and other fees and costs incurred in procuring tenants; (xiv) the cost of providing such service would have otherwise been included in Building’s Operating Costs, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which Landlord receives reimbursement from insurance proceeds is reimbursed by insurance, condemnation awards, refund, rebate or a third party otherwise, and any expenses for repairs or maintenance to the extent covered by warranties, guaranties and service contracts; (such costs shall be excluded from Operating Expenses in the year in which the reimbursement is received), but any deductible amount under any insurance policy shall be included within Operating Expenses, (viiixv) costs incurred in connection with any disputes between Landlord and its employees, between Landlord and Building management, or between Landlord and other tenants or occupants; and (xvi) costs incurred in connection with the clean-up, response action or remediation of capital improvements, except as specifically provided herein, Hazardous Materials at the Property; (ixxvii) costs incurred for the benefit replacement of a single tenant (for examplei.e., tenant improvement as opposed to the maintenance and repair of) the Acid Neutralization Tank; (xviii) costs in connection with the leasing of space in the Building, including lease concessions, rental abatement and construction allowances granted to build-out a particular suite), specific tenants; (xxix) costs incurred with the sale, financing or refinancing of the Building, fines, interest and penalties incurred due to Landlord’s breach the late payment of a lease, law, taxes or ordinance, expenses; (xixx) repairs necessitated by the gross negligence or willful misconduct of Landlord, (xii) the cost of earthquake or flood insurance, unless required by Landlord’s Lender and in such event an amount reasonably estimated costs incurred by Landlord in connection with the correction of defects in design and original construction of the Building or Property; the costs or expenses of any services or benefits provided generally to approximate the cost of such coverage other tenants in the Building and not provided or available to Tenant; sums (other than management fees, it being agreed that the management fees included in Building Operating Costs are as if such coverage been carried during the Base Year shall be added to Direct Expenses for the Base Year, (xiiidescribed above) overhead profit increments paid to Landlord’s subsidiaries or other affiliates of Landlord for management or other services on or to the building Property, Building or for supplies or other materials the First Floor Premises, but only to the extent that the costs of such services exceed the competitive cost for such services rendered by persons or entities of similar skill, competence and experience; any general administrative expenses, which costs would not be chargeable to operating expenses of the servicesBuilding in accordance with generally accepted accounting principles, supplies, consistently applied; or materials exceeds any penalties or damages that Landlord pays to Tenant under this Lease or to other tenants in the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid to any executive employees above the grade of building manager, (xx) the cost of correcting any building code or other violations which were violations prior to the Lease Commencement Date, and (xxi) the cost of containing, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was not caused by TenantBuilding under their respective leases.
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Samples: Lease (Akebia Therapeutics, Inc.), Lease (Akebia Therapeutics, Inc.)
Excluded Costs. “ “Excluded Costs” means the following expenses, as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): Expenses: (i) depreciation, principal, interest, and amortization fees on mortgages or ground lease payments, except as otherwise provided herein, (ii) legal fees incurred in negotiating and enforcing tenant leases, disputes with other tenants, (iii) real estate brokers’ leasing commissionscommissions and advertising costs in connection with leasing space in the Project, (iv) initial improvements or alterations to tenant spacesspaces in the Project, (v) the cost of providing any service directly to and paid directly by any a single individual tenant, if or costs incurred for the cost benefit of providing such service would have otherwise been included in Building’s Operating Costsa single tenant, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which to the extent Landlord actually receives reimbursement therefor from insurance proceeds proceeds, under warranties, or from a tenant or other third party (such costs shall be excluded or deducted – as appropriate – from Operating Expenses in the year in which the reimbursement is received), but any deductible amount under any insurance policy shall be or which are paid out of reserves previously included within in Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (xvii) costs incurred due to Landlord’s breach of a lease, law, law or ordinanceordinance (including costs incurred by Landlord to cause the Premises or Building to comply with ADA or to xxxxx Prohibited Substances to the extent that Landlord is required to do so under this Lease), (xiviii) repairs necessitated by the gross negligence or willful misconduct of Landlord or Landlord’s employees, agents, or contractors, (ix) capital expenses other than those specifically included in the definition of Operating Expenses, (x) charitable or political contributions and membership fees or other payments to trade organizations, (xi) costs of Landlord’s Work which are to be borne by Landlord pursuant to attached Exhibit “C”, if any (xii) the cost of earthquake or flood insurance, unless required by rent and similar charges for Landlord’s Lender and in such event an amount reasonably estimated by on-site management office and/or leasing office or any other offices of Landlord to approximate the cost of such coverage as if such coverage been carried during the Base Year shall be added to Direct Expenses for the Base Year, or its affiliates (xiii) overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or general overhead expenses not related to the building or for supplies or other materials to the extent that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid to any executive employees above the grade of building manager, (xx) the cost of correcting any building code or other violations which were violations prior to the Lease Commencement Date, and (xxi) the cost of containing, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was not caused by TenantProject.
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Excluded Costs. “ To the extent that the following costs are not included in the Final Project Budget, such costs (collectively the “Excluded Costs” means the following expenses, ”) shall be allocated as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): set forth in this Section 3.14: (i) depreciationadditional costs to construct, interestre-construct, and amortization on mortgages re-surface, widen or ground lease payments, (ii) legal fees incurred otherwise improve any public or private roadway abutting the Land that may be required by the City of Austin or the County of Txxxxx or other applicable authority in negotiating and enforcing tenant leases, (iii) real estate brokers’ leasing commissions, (iv) initial improvements or alterations order to tenant spaces, (v) the cost of providing any service directly to and paid directly by any individual tenant, if the cost of providing such service would have otherwise been included in Building’s Operating Costs, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which Landlord receives reimbursement from insurance proceeds obtain either a building permit or a third party (such costs shall be excluded from Operating Expenses in certificate of occupancy for the year in which the reimbursement is received)Project, but any deductible amount under any insurance policy shall be included within Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (x) costs incurred due to Landlord’s breach of a lease, law, or ordinance, (xi) repairs necessitated by the gross negligence or willful misconduct of Landlord, (xii) the cost of earthquake or flood insurance, unless required by Landlord’s Lender and in such event an amount reasonably estimated by Landlord to approximate the cost of such coverage as only if such coverage been carried during the Base Year additional costs exceed $100,000.00 (costs less than $100,000 shall be added to Direct Expenses for the Base YearFinal Project Budget); (ii) additional costs to construct, expand the capacity of or otherwise improve any water lines, sanitary sewer lines, lift stations, private sanitary sewer plants, off-site or regional detention facilities necessary to serve the Land and the to be constructed Improvements, but only if such additional costs exceed $100,000.00 (xiii) overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or costs less than $100,000 shall be added to the building or for supplies or other materials Final Project Budget); and (iii) Tenant’s Work (as defined in Section 8.1 hereof). The costs of Tenant’s Work shall be borne solely by Tenant. This Lease shall be conditioned upon an agreement from the parties regarding a mutually acceptable manner in which to allocate items (i) and (ii) of Excluded Costs, which agreement shall not be unreasonably withheld. Landlord and Tenant anticipate that they will be able to further define and ascertain the extent that the cost impact of any of the servicesExcluded Costs during the design phase of the Project. Landlord agrees and acknowledges that Landlord shall not approve or incur any obligations in regards to items identified as Excluded Costs without the express written approval of Tenant, supplieswhich approval will not be unreasonably withheld. Landlord further agrees that Landlord shall provide Tenant all information, documents, or materials exceeds in regards to negotiations for any items identified as an Excluded Cost and shall provide Tenant the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) opportunity to materially participate in any compensation paid to clerks, attendants, or other persons negotiations in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid regards to any executive employees above Excluded Cost item. Tenant and Landlord agree that items identified as Excluded Costs which are required after construction commences will be submitted to Tenant for inclusion into the grade of building managerFinal Project Budget, (xx) the cost of correcting any building code or other violations which were violations prior to the Lease Commencement Date, and (xxi) the cost of containing, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was approval shall not caused by Tenantbe unreasonably withheld.
Appears in 1 contract
Samples: And Restated Lease Agreement (Global Medical REIT Inc.)
Excluded Costs. “ “Excluded Costs” means the following expenses, as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): Expenses: (i) depreciation, principal, interest, and amortization fees on mortgages or ground lease payments, except as otherwise provided herein, (ii) legal fees incurred in negotiating and enforcing tenant leases, disputes with other tenants, (iii) real estate brokers’ leasing commissionscommissions and advertising costs in connection with leasing space in the Project, (iv) initial improvements or alterations to tenant spacesspaces in the Project, (v) the cost of providing any service directly to and paid directly by any a single individual tenant, if or costs incurred for the cost benefit of providing such service would have otherwise been included in Building’s Operating Costsa single tenant, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which to the extent Landlord actually receives reimbursement therefor from insurance proceeds proceeds, under warranties, or from a tenant or other third party (such costs shall be excluded or deducted—as appropriate—from Operating Expenses in the year in which the reimbursement is received), but any deductible amount under any insurance policy shall be or which are paid out of reserves previously included within in Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (xvii) costs incurred due to Landlord’s breach of a lease, law, failure to comply with any law or ordinance, (xiviii) repairs necessitated by the gross negligence or willful misconduct of Landlord or Landlord’s employees, agents, or contractors, (xiiix) capital expenses other than those specifically included in the cost definitions of earthquake Operating Expenses, (x) charitable or flood insurancepolitical contributions and membership fees or other payments to trade organizations, unless required by (xi) rent and similar charges for Landlord’s Lender and in such event an amount reasonably estimated by on-site management office and/or leasing office or any other offices of Landlord to approximate the cost of such coverage as if such coverage been carried during the Base Year shall be added to Direct Expenses for the Base Year, (xiii) overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or to the building or for supplies or other materials its affiliates; however only to the extent such rent is attributable to a portion of such office(s) in excess of 2,500 Rentable Square Feet (in the aggregate), it being acknowledged that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord, (xv) advertising Landlord may include such rent and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs similar charges to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid relate to any executive employees above the grade of building manager, such office (xxor portion thereof) the cost of correcting any building code or other violations which were violations prior to the Lease Commencement Dateis less than 2,500 Rentable Square Feet), and (xxixii) Landlord’s general overhead expenses not related to the cost of containing, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was not caused by Tenant.Project. Landlord _______________ Tenant ______________
Appears in 1 contract
Excluded Costs. “ “Excluded Costs” means the following expenses, as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): Expenses: (i) depreciation, principal, interest, and amortization fees on mortgages or ground lease payments, except as otherwise expressly provided herein, (ii) legal fees incurred in negotiating and enforcing tenant leases, or disputes with other tenants, its employees or property manager, (iii) real estate brokers’ leasing commissionscommissions and advertising costs in connection with leasing space in the Project, (iv) initial improvements or alterations to tenant spacesspaces in the Project, (v) the cost of providing any service directly to and paid directly by any 8 American Assets Trust – Lease Form 1/31/2023 a single individual tenant, if or costs incurred for the cost benefit of providing such service would have otherwise been included in Building’s Operating Costsa single tenant, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which to the extent Landlord actually receives reimbursement therefor from insurance proceeds proceeds, under warranties, or from a tenant or other third party (such costs shall be excluded or deducted – as appropriate – from Operating Expenses in the year in which the reimbursement is received), but any deductible amount under any insurance policy shall be or which are paid out of reserves previously included within in Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (xvii) costs incurred due to Landlord’s breach of a lease, law, Laws or ordinance, (xiviii) repairs necessitated by the gross negligence or willful misconduct of Landlord or Landlord's employees, agents, or contractors, (ix) capital expenses other than those specifically included in the definition of Operating Expenses, (x) charitable or political contributions and membership fees or other payments to trade organizations, (xi) costs of Landlord’s Work which are to be borne by Landlord pursuant to attached Exhibit “C”, if any, (xii) the cost of earthquake or flood insurance, unless required by rent and similar charges for Landlord’s Lender and in such event an amount reasonably estimated by on-site management office and/or leasing office or any other offices of Landlord to approximate the cost of such coverage as if such coverage been carried during the Base Year shall be added to Direct Expenses for the Base Yearor its affiliates, (xiii) Landlord's general overhead profit increments paid expenses not related to the Project, (xiv) any cost due to Landlord’s breach of this Lease, debt service (including without limitation, interest, principal and any impound payments) required to be made on any mortgage or deed of trust recorded with respect to the Project, (xv) repairs and replacements paid for by insurance proceeds, or would have been so reimbursed if Landlord had in force all insurance required to be carried by Landlord under this Lease, (xvi) intentionally deleted; (xvii) bad debt loss, rent loss, or reserves of any kind; (xviii) costs associated with the operation of the business of the entity which constitutes Landlord, as the same are distinguished from the costs of operation of the Building, (xix) overhead and profit increment paid to the Landlord or to subsidiaries or affiliates of the Landlord for management or other services on or to the building or for supplies or other materials to the extent that the cost of the services, supplies, or materials same exceeds the cost that would have been paid had the servicescosts of such services rendered by qualified, supplies, or materials been provided by first-class unaffiliated third parties on a competitive basis, (xiv) any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid to any executive employees above the grade of building manager, ; (xx) costs, including fines or penalties, incurred due to a violation of any law in force and effect as of the cost Lease Commencement Date; (xxi) costs incurred to comply with laws relating to the removal of correcting any building code or other violations Hazardous Substances which were violations in existence in the Project prior to the Lease Commencement Date, and (xxi) or after the cost of containing, removing, or otherwise remediating any contamination of Lease Commencement Date to the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was extent not caused by Tenant; (xxii) wages and benefits of any employee above property manager, or (xxiii) property management fees in excess of 3.5% of the gross revenue of the Project.
Appears in 1 contract
Excluded Costs. “ To the extent that the following costs are not included in the Final Project Budget, such costs (collectively the “Excluded Costs” means the following expenses, ”) shall be allocated as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): set forth in this Section 3.14: (i) depreciationadditional costs to construct, interestre-construct, and amortization on mortgages re-surface, widen or ground lease payments, (ii) legal fees incurred otherwise improve any public or private roadway abutting the Land that may be required by the City of Austin or the County of Xxxxxx or other applicable authority in negotiating and enforcing tenant leases, (iii) real estate brokers’ leasing commissions, (iv) initial improvements or alterations order to tenant spaces, (v) the cost of providing any service directly to and paid directly by any individual tenant, if the cost of providing such service would have otherwise been included in Building’s Operating Costs, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which Landlord receives reimbursement from insurance proceeds obtain either a building permit or a third party (such costs shall be excluded from Operating Expenses in certificate of occupancy for the year in which the reimbursement is received)Project, but any deductible amount under any insurance policy shall be included within Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (x) costs incurred due to Landlord’s breach of a lease, law, or ordinance, (xi) repairs necessitated by the gross negligence or willful misconduct of Landlord, (xii) the cost of earthquake or flood insurance, unless required by Landlord’s Lender and in such event an amount reasonably estimated by Landlord to approximate the cost of such coverage as only if such coverage been carried during the Base Year additional costs exceed $100,000.00 (costs less than $100,000 shall be added to Direct Expenses for the Base YearFinal Project Budget); (ii) additional costs to construct, expand the capacity of or otherwise improve any water lines, sanitary sewer lines, lift stations, private sanitary sewer plants, off-site or regional detention facilities necessary to serve the Land and the to be constructed Improvements, but only if such additional costs exceed $100,000.00 (xiii) overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or costs less than $100,000 shall be added to the building or for supplies or other materials Final Project Budget); and (iii) Tenant’s Work (as defined in Section 8.1 hereof). The costs of Tenant’s Work shall be borne solely by Tenant. This Lease shall be conditioned upon an agreement from the parties regarding a mutually acceptable manner in which to allocate items (i) and (ii) of Excluded Costs, which agreement shall not be unreasonably withheld. Landlord and Tenant anticipate that they will be able to further define and ascertain the extent that the cost impact of any of the servicesExcluded Costs during the design phase of the Project. Landlord agrees and acknowledges that Landlord shall not approve or incur any obligations in regards to items identified as Excluded Costs without the express written approval of Tenant, supplieswhich approval will not be unreasonably withheld. Landlord further agrees that Landlord shall provide Tenant all information, documents, or materials exceeds in regards to negotiations for any items identified as an Excluded Cost and shall provide Tenant the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) opportunity to materially participate in any compensation paid to clerks, attendants, or other persons negotiations in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid regards to any executive employees above Excluded Cost item. Tenant and Landlord agree that items identified as Excluded Costs which are required after construction commences will be submitted to Tenant for inclusion into the grade of building managerFinal Project Budget, (xx) the cost of correcting any building code or other violations which were violations prior to the Lease Commencement Date, and (xxi) the cost of containing, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was approval shall not caused by Tenantbe unreasonably withheld.
Appears in 1 contract
Samples: Lease Agreement
Excluded Costs. “ “Excluded Costs” means the following expenses, as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): Expenses: (i) depreciation, principal, interest, and amortization fees on mortgages or ground lease payments, except as otherwise provided herein, (ii) legal fees incurred in negotiating and enforcing tenant leases, disputes with other tenants, (iii) real estate brokers’ leasing commissionscommissions and advertising costs in connection with leasing space in the Project, (iv) initial improvements or alterations to tenant spacesspaces in the Project, (v) the cost of providing any service directly to and paid directly by any a single individual tenant, if or costs incurred for the cost benefit of providing such service would have otherwise been included in Building’s Operating Costsa single tenant, (vi) costs of any items to the extent Landlord actually receives reimbursement therefor from insurance proceeds, under warranties, or from a tenant or other third party (such costs shall be excluded or deducted – as appropriate – from Operating Expenses in the year in which the reimbursement is received), or which are paid out of reserves previously included in Operating Expenses, (vii) costs incurred due to Landlord’s breach of a law or ordinance, (viii) repairs necessitated by the gross negligence or willful misconduct of Landlord or Landlord's employees, agents, or contractors, (ix) capital expenses other than those specifically included in the definition of Operating Expenses, (x) charitable or political contributions and membership fees or other payments to trade organizations, (xi) costs of Landlord’s Work which are to be borne by Landlord pursuant to attached Exhibit “C”, if any, (xii) rent and similar charges for Landlord’s on-site management office and/or leasing office or any other offices of Landlord or its affiliates, (xiii) Landlord's general overhead expenses not related to the Project, (xiv) electric power and other utility costs for which any tenant directly contracts with and pays the local public service company, (xv) any bad debt loss, rent loss, or reserves for bad debts or rent loss, (xvi) any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord, if any, provided that any compensation paid to any concierge at the Project shall be includable as an Operating Expense, (xvii) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (viixiix) costs (A) incurred to comply with laws relating to the removal of any items Hazardous Material (as defined in Paragraph 37.3 below) except for immaterial amounts completed in connection with routine maintenance and repairs; which Landlord receives reimbursement from insurance proceeds or a third party (such costs shall be excluded from Operating Expenses was in existence in the year in which Building or on the reimbursement is received), but any deductible amount under any insurance policy shall be included within Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (x) costs incurred due to Landlord’s breach of a lease, law, or ordinance, (xi) repairs necessitated by the gross negligence or willful misconduct of Landlord, (xii) the cost of earthquake or flood insurance, unless required by Landlord’s Lender and in such event an amount reasonably estimated by Landlord to approximate the cost of such coverage as if such coverage been carried during the Base Year shall be added to Direct Expenses for the Base Year, (xiii) overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or to the building or for supplies or other materials to the extent that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid to any executive employees above the grade of building manager, (xx) the cost of correcting any building code or other violations which were violations Project prior to the Lease Commencement Date, and was of such a nature that a federal, State or municipal governmental authority, if it then had knowledge of the presence of such Hazardous Material, in the state, and under the conditions that it then existed in the Building or on the Project, would have then required the removal of such Hazardous Material or other remedial or containment action with respect thereto; and (B) costs incurred to remove, remedy, contain, or treat Hazardous Material, which hazardous material is brought into the Building or onto the Project after the date hereof by Landlord or any other tenant of the Project and is of such a nature, at that time, that a federal, State or municipal governmental authority, if it had then had knowledge of the presence of such Hazardous Material, in the state, and under the conditions, that it then exists in the Building or on the Project, would have then required the removal of such Hazardous Material or other remedial or containment action with respect thereto except for immaterial amounts completed in connection with routine maintenance and repairs, (xix) any gifts provided to any entity whatsoever, including, but not limited to, Tenant, other tenants, employees, vendors, contractors, prospective tenants, and (xxi) any amount paid to Landlord or to subsidiaries or affiliates of Landlord for services in the Project to the extent the same exceeds the cost of containingsuch services rendered by qualified, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was not caused by Tenant.first-class unaffiliated third parties on a competitive basis,
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Samples: Office Lease Agreement (Adamis Pharmaceuticals Corp)
Excluded Costs. “ “Excluded Costs” means the following expenses, as they relate to the Building Operating Costs and the Project Operating Costs (as defined below): Expenses: (i) depreciation, principal, interest, and amortization fees on mortgages or ground lease payments, except as otherwise provided herein, (ii) legal fees incurred in negotiating and enforcing tenant leases, disputes with other tenants, (iii) real estate brokers’ leasing commissionscommissions and advertising costs in connection with leasing space in the Project, (iv) initial improvements or alterations to tenant spacesspaces in the Project, (v) the cost of providing any service directly to and paid directly by any a single individual tenant, if or costs incurred for the cost benefit of providing such service would have otherwise been included in Building’s Operating Costsa single tenant, (vi) any costs expressly excluded from Operating Expenses elsewhere in this Lease, (vii) costs of any items for which to the extent Landlord actually receives reimbursement therefor from insurance proceeds proceeds, under warranties, or from a tenant or other third party (such costs shall be excluded or deducted - as appropriate - from Operating Expenses in the year in which the reimbursement is received)}, but any deductible amount under any insurance policy shall be or which are paid out of reserves previously included within in Operating Expenses, (viii) costs of capital improvements, except as specifically provided herein, (ix) costs incurred for the benefit of a single tenant (for example, tenant improvement costs to build-out a particular suite), (xvii) costs incurred due to Landlord’s breach of a lease, law, law or ordinanceordinance (including costs incurred by Landlord to cause the Premises or Building to comply with ADA or to xxxxx Prohibited Substances to the extent that Landlord is required to do so under this Lease), (xiviii) repairs necessitated by the gross negligence or willful misconduct of Landlord or Landlord’s employees, agents, or contractors, (ix) capital expenses other than those specifically included in the definition of Operating Expenses, (x) charitable or political contributions and membership fees or other payments to trade organizations, (xi) costs of Landlord’s Work which are to be borne by Landlord pursuant to attached Exhibit “C”, if any (xii) the cost of earthquake or flood insurance, unless required by rent and similar charges for Landlord’s Lender and in such event an amount reasonably estimated by on site management office and/or leasing office or any other offices of Landlord to approximate the cost of such coverage as if such coverage been carried during the Base Year shall be added to Direct Expenses for the Base Year, or its affiliates (xiii) overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or general overhead expenses not related to the building or for supplies or other materials to the extent that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis, (xiv) any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord, (xv) advertising and promotional expenditures, (xvi) costs of repairs and other work occasioned by fire, windstorm, or other casualty covered by insurance, (xvii) management costs to the extent they exceed 5% of all gross rent collected, (xviii) costs for sculpture, paintings, or other objects of art (nor insurance thereon or extraordinary security in connection therewith), (xix) wages, salaries, or other compensation paid to any executive employees above the grade of building manager, (xx) the cost of correcting any building code or other violations which were violations prior to the Lease Commencement Date, and (xxi) the cost of containing, removing, or otherwise remediating any contamination of the Property (including the underlying land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and “PCB’s”) where such contamination was not caused by TenantProject.
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