Common use of Exclusions from Expenses Clause in Contracts

Exclusions from Expenses. Notwithstanding anything to the contrary contained in this Paragraph 4.2, and in addition to the exclusions set forth in the preceding paragraph, there shall be excluded from Expenses and Additional Rent the following: (i) leasing commissions, advertising expenses, promotional expenses, attorneys’ fees, disbursements, and other costs and expenses incurred in procuring prospective tenants, negotiating and executing leases, and constructing improvements required to prepare for a new tenant’s occupancy for the Building or the Project, if any; (ii) finance and debt service fees, principal and/or interest on debt or amortization payments on any mortgages executed by Landlord covering Landlord’s property, any other indebtedness of Landlord, and rental under any ground lease or leases for the Building or the Project; (iii) any depreciation allowance or expense, amortization (except for expenditures permitted under this Lease) or expense reserve; (iv) the costs of Landlord’s third party property manager or, if there is no third party property manager, administration rent in excess of the amount of 3.0% of Base Rent); (v) except for management fees, Landlord’s general overhead and any overhead or profit increment to any subsidiary or affiliate of Landlord for services on or to the Project to the extent that the cost of such service exceeds competitive costs for such services rendered by persons or entities of similar skill, competence and experience other than a subsidiary or affiliate of Landlord; (vi) any costs or expenses representing any amount paid for services and materials to a (personal or business) related person, firm, or entity to the extent such amount exceeds the amount that would have been paid for such service or materials at the then existing market rates in the absence of such relationship; (vii) compensation paid to any employee of Landlord above the grade of Property Manager/Building Superintendent, including officers and executives of Landlord (provided that Landlord may pass through as Expenses compensation paid to employees at or below the grade of Property Manager/Building Superintendant or affiliates of Landlord providing services to the Project); (viii) costs of electrical energy furnished and metered directly to tenants of the Project or for which Landlord is entitled to be reimbursed by tenants as additional rental over and above tenant’s Monthly Base Rent or pass-through of Expenses; (ix) the cost of any work or service furnished to any tenant or occupant of the Project to a materially greater extent or in a materially more favorable manner than that furnished generally to the tenants and other occupants of the Project, or the costs of work or service furnished exclusively for the benefit of any tenant or occupant of the Project or at such tenant’s cost; (x) the costs and expenses incurred in resolving disputes with other tenants, other occupants, or prospective tenants or occupants of the Project, collecting rents or otherwise enforcing leases of the tenants of the Project; (xi) the costs of any work or service performed for any facility other than a facility located within the Project; (xii) the costs of repairs, alterations, and general maintenance necessitated by the gross negligence or willful misconduct of Landlord or its agents, employees, or contractors or repairs; (xiii) interest or penalties due to the late payment by Landlord of taxes, utility bills or other such costs (except to the extent caused by Tenant’s action or inaction); (xiv) any of the following tax or assessment expenses: (a) estate, inheritance, transfer, gift, federal, state or franchise taxes of Landlord, or (b) penalties and interest, other than those attributable to Tenant’s failure to comply timely with its obligations pursuant to this Lease; and (xv) bad debt expenses and charitable contributions and donations. Landlord agrees that (a) Landlord will not collect or be entitled to collect more than one hundred percent (100%) of the Expenses actually paid by Landlord in connection with the operation of the Project in any calendar year, and (b) Landlord shall make no profit from Landlord’s collection of Expenses.”

Appears in 2 contracts

Samples: To Lease (Theravance Biopharma, Inc.), Lease (Theravance Inc)

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Exclusions from Expenses. Notwithstanding anything to the contrary contained in this Paragraph 4.2, and in addition to the exclusions set forth in the preceding paragraph, there shall be excluded from Expenses and Additional Rent the following: (i) leasing commissions, advertising expenses, promotional expenses, attorneys’ fees, disbursements, and other costs and expenses incurred in procuring prospective tenants, negotiating and executing leases, and constructing improvements required to prepare for a new tenant’s occupancy for the Building or the Project, if any; (ii) finance and debt service fees, principal and/or interest on debt or amortization payments on any mortgages executed by Landlord covering Landlord’s property, any other indebtedness of Landlord, and rental under any ground lease or leases for the Building or the Project; (iii) any depreciation allowance or expense, amortization (except for expenditures permitted under this Lease) or expense reserve; (iv) the costs of Landlord’s third party property manager or, if there is no third party property manager, administration rent fees in excess of the amount of 3.0% of Base Rent); (v) except for management fees, Landlord’s general overhead and any overhead or profit increment to any subsidiary or affiliate of Landlord for services on or to the Project to the extent that the cost of such service exceeds competitive costs for such services rendered by persons or entities of similar skill, competence and experience other than a subsidiary or affiliate of Landlord; (vi) any costs or expenses representing any amount paid for services and materials to a (personal or business) related person, firm, or entity to the extent such amount exceeds the amount that would have been paid for such service or materials at the then existing market rates in the absence of such relationship; (vii) compensation paid to any employee of Landlord above the grade of Property Manager/Building Superintendent, including officers and executives of Landlord (provided that Landlord may pass through as Expenses compensation paid to employees at or below the grade of Property Manager/Building Superintendant or affiliates of Landlord providing services to the Project); (viii) costs of electrical energy furnished and metered directly to tenants of the Project or for which Landlord is entitled to be reimbursed by tenants as additional rental over and above tenant’s Monthly Base Rent or pass-through of Expenses; (ix) the cost of any work or service furnished to any tenant or occupant of the Project to a materially greater extent or in a materially more favorable manner than that furnished generally to the tenants and other occupants of the Project, or the costs of work or service furnished exclusively for the benefit of any tenant or occupant of the Project or at such tenant’s cost; (x) the costs and expenses incurred in resolving disputes with other tenants, other occupants, or prospective tenants or occupants of the Project, collecting rents or otherwise enforcing leases of the tenants of the Project; (xi) any costs incurred to remove, study, test, remediate or otherwise related to the presence of Hazardous Materials in the Building, which Hazardous Materials (A) Tenant proves originated from any separately demised tenant space within the Building other than the Premises or (B) Tenant proves were not brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Building by Tenant or Tenant’s Agents; (xii) the costs of any work or service performed for any facility other than a facility located within the Project; (xiixiii) the costs of repairs, alterations, and general maintenance necessitated by the gross negligence or willful misconduct of Landlord or its agents, employees, or contractors or repairs; (xiiixiv) interest or penalties due to the late payment by Landlord of taxes, utility bills or other such costs (except to the extent caused by Tenant’s action or inaction); (xivxv) any of the following tax or assessment expenses: (a) estate, inheritance, transfer, gift, federal, state or franchise taxes of Landlord, or (b) penalties and interest, other than those attributable to Tenant’s failure to comply timely with its obligations pursuant to this Lease; and (xvxvi) bad debt expenses and charitable contributions and donations. Landlord agrees that (a) Landlord will not collect or be entitled to collect more than one hundred percent (100%) of the Expenses actually paid by Landlord in connection with the operation of the Project in any calendar year, and (b) Landlord shall make no profit from Landlord’s collection of Expenses.”

Appears in 2 contracts

Samples: To Lease (Theravance Biopharma, Inc.), To Lease (Theravance Inc)

Exclusions from Expenses. Notwithstanding anything to the contrary contained in this Paragraph 4.2Lease, and in addition to the exclusions set forth in the preceding paragraph, there following items shall be excluded from Expenses and Additional Rent the following(or, as applicable, deducted) in calculating Tenant's Share of Expenses: (ia) leasing commissions, advertising expenses, promotional expenses, attorneys’ fees, disbursements, and other costs and expenses incurred in procuring prospective tenants, negotiating and executing leases, and constructing improvements required of any special services rendered to prepare individual tenants (including Tenant) for which a new tenant’s occupancy for the Building or the Project, if anyspecial charge is made; (iib) finance attorneys fees and debt service fees, principal and/or interest on debt or amortization payments on any mortgages executed costs related to defaults by Landlord covering Landlord’s property, any other indebtedness of Landlord, and rental under any ground lease or leases for the Building or tenants in the Project; (iiic) any depreciation allowance or expense, amortization (except for expenditures permitted under this Lease) or expense reserve; (iv) the costs of Landlord’s third party property manager or, if there is no third party property manager, administration rent in excess of the amount of 3.0% of Base Rent); (v) except for management fees, Landlord’s general overhead and any overhead or profit increment to any subsidiary or affiliate of Landlord for services on or to the Project to the extent that the cost of the Project and any improvements or any costs which are required to be capitalized under generally accepted accounting principles excepting only amounts amortized by Landlord to cover the cost of replacements of Project systems and equipment and to cover such service exceeds competitive costs for capital improvements as are either required by law or are reasonably expected to lower Operating Costs, with such services rendered by persons or entities amortization to be based on the estimated useful lives of similar skillsuch items and annualized on a straight line basis, competence and experience other than a subsidiary or affiliate of Landlordover such useful lives; (vi) any costs or expenses representing any amount paid for services and materials to a (personal or business) related person, firm, or entity to the extent such amount exceeds the amount that would have been paid for such service or materials at the then existing market rates in the absence of such relationship; (vii) compensation paid to any employee of Landlord above the grade of Property Manager/Building Superintendent, including officers and executives of Landlord (provided that Landlord may pass through as Expenses compensation paid to employees at or below the grade of Property Manager/Building Superintendant or affiliates of Landlord providing services to the Project); (viiid) costs of electrical energy furnished and metered directly to tenants of the Project entering into or for which Landlord is entitled to be reimbursed by tenants as additional rental over and above tenant’s Monthly Base Rent or pass-through of Expenses; (ix) the cost of any work or service furnished to any tenant or occupant of the Project to a materially greater extent enforcing Tenant leases or in a materially more favorable manner than that furnished generally to connection with the tenants and other occupants of the Project, financing or the costs of work or service furnished exclusively for the benefit of any tenant or occupant of the Project or at such tenant’s cost; (x) the costs and expenses incurred in resolving disputes with other tenants, other occupants, or prospective tenants or occupants of the Project, collecting rents or otherwise enforcing leases of the tenants transfer of the Project; (xie) the costs of repairing casualty damage to the extent the same is covered by insurance carried or required to be carried under this Lease; (f) costs reimbursed from insurance or condemnation proceeds or from Tenant or any work other tenant of the Project pursuant to other lease clauses; (g) costs of fines and penalties imposed as a result of Landlord's failure to comply with any applicable rule or service performed regulation; (h) costs paid to parties affiliated with Landlord in excess of fair market value; (i) costs of correcting structures or equipment in the Project or elements of the Common Areas that were, as of the Commencement Date, not in compliance with applicable laws or regulations; (j) costs of preparing space in the Project (including the Premises) for tenant occupancy; (k) lease brokerage commissions and advertising; (1) costs for services rendered to any facility other than a facility located within tenant whose space is not included in the Rentable Area of the Project; (xiim) the costs cost of repairsdebt service; (n) wages, alterations, salaries and general maintenance necessitated by the gross negligence or willful misconduct other compensation paid to employees of Landlord or its agents, employees, or contractors or repairs; (xiii) interest or penalties due to who are above the late payment by Landlord level of taxes, utility bills or other such costs (except to the extent caused by Tenant’s action or inaction); (xiv) any of the following tax or assessment expenses: (a) estate, inheritance, transfer, gift, federal, state or franchise taxes of Landlord, or (b) penalties and interest, other than those attributable to Tenant’s failure to comply timely with its obligations pursuant to this LeaseProject manager; and (xvo) bad debt expenses and charitable contributions and donations. Landlord agrees all other items for which Tenant or any other tenant, occupant or other party compensates Landlord, so that (a) Landlord will not collect no duplication of payments by Tenant or be entitled to collect more than one hundred percent (100%) of the Expenses actually paid by Landlord in connection with the operation of the Project in any calendar year, and (b) Landlord shall make no profit from Landlord’s collection of Expensesoccur.

Appears in 1 contract

Samples: Lease (Tripath Imaging Inc)

Exclusions from Expenses. Notwithstanding anything to the contrary contained in this Paragraph 4.2, and in addition to the exclusions set forth in the preceding paragraph, there Expenses shall be excluded from Expenses and Additional Rent the followingexpressly exclude: (ia) leasing commissions, advertising expenses, promotional expenses, attorneys’ fees, disbursements, and other costs and expenses incurred in procuring prospective tenants, negotiating and executing leases, and constructing improvements required to prepare for a new tenant’s occupancy for the Building or the Project, if any; (ii) finance and debt service fees, principal and/or interest on debt or amortization payments on any mortgages executed by Landlord covering Landlord’s property, any other indebtedness of Landlord, and rental under any loans or ground lease or leases for the Building or affecting the Project; (iiib) costs, including legal fees, space planners' fees, and brokerage fees incurred in connection with the original construction or development, or leasing of the Project, and costs, including permit, license and inspection costs, incurred with respect to the installation of tenant improvements made for tenants in the Project or incurred in renovating or otherwise improving, decorating, painting or redecorating vacant space for tenants or other occupants of the Project; (c) any depreciation allowance bad debt loss, rent loss, or expense, amortization (except for expenditures permitted under this Lease) or expense reservereserves of any kind; (ivd) costs associated with the operation of the business of the entity which constitutes Landlord, as the same are distinguished from the costs of Landlord’s third party property manager or, if there is no third party property manager, administration rent in excess operation of the amount of 3.0% of Base Rent)Building or Project; (ve) except for management feescosts of selling, syndicating, financing, mortgaging or hypothecating any of the Landlord’s general 's interest in the Project, and costs incurred in connection with any disputes between Landlord and its employees, Landlord and its tenants, or between Landlord and Project management; (f) overhead and any overhead or profit increment paid to any subsidiary the Landlord or affiliate to subsidiaries or affiliates of the Landlord for services on or to in the Project to the extent that the cost same exceeds the costs of such service exceeds competitive costs for such services rendered by persons or entities of similar skillqualified, competence and experience other than first-class unaffiliated third parties on a subsidiary or affiliate of Landlordcompetitive basis; (vig) any costs costs, including fines or expenses representing any amount paid for services and materials penalties, incurred due to a violation of any Law in force and effect as of the Commencement Date (personal For this purpose, a change in interpretation of or businesschange in the procedures for enforcing an existing law will be the equivalent of a new law); (h) related person, firmcosts for repairs or other work incurred by reason of fire or other casualty, or entity by the exercise of the right of eminent domain, to the extent such amount exceeds the amount that Landlord is reimbursed through insurance proceeds or condemnation awards, or would have been paid so reimbursed if Landlord had in force all insurance required to be carried by Landlord under this Lease; (i) costs for such service or materials at the then existing market rates repairs to correct defects in the absence original construction of the Project, or repairs that are covered by warranties to the extent actually covered by such relationshipwarranties, or structural repairs or replacements; (viij) compensation paid costs, attorneys' and other professional fees and expenses incurred in connection with lease negotiations with prospective Project tenants or the enforcement of leases affecting the Project; (k) costs incurred to any employee comply with laws relating to the removal of Landlord above Hazardous Materials which was in existence in the grade of Property Manager/Building Superintendentor on the Project prior to the Commencement Date, including officers and executives of Landlord or after the Commencement Date XXXXXX #00000 x00 Xxxxxx Lease to the extent not caused by Tenant; (provided that Landlord may pass through as Expenses compensation paid to employees at l) costs for capital improvements, repairs or below the grade of Property Manager/Building Superintendant or affiliates of Landlord providing services replacements to the Project), except as set forth in Section 4.2.9, above; (viiil) costs interest, fines or penalties incurred by Landlord, except to the extent incurring such expense is either (1) a reasonable business expense under the circumstances, or (2) caused by a corresponding late payment or violation of electrical energy furnished and metered directly to tenants an applicable Law by Tenant, in which event Tenant shall be responsible for the full amount of the Project or for which Landlord is entitled to be reimbursed by tenants as additional rental over and above tenant’s Monthly Base Rent or pass-through of Expensessuch expense; (ixm) advertising and promotional expenditures and any other marketing expense incurred in connection with the leasing of space in the Project; (n) the cost of any work or service furnished items to any tenant or occupant the extent to which such cost is reimbursed to Landlord by tenants of the Project to (other than as a materially greater extent or in a materially more favorable manner than that furnished generally to the tenants and other occupants reimbursement of the Projectoperating expenses), or the costs of work or service furnished exclusively for the benefit of any tenant or occupant of the Project or at such tenant’s costother third parties; (xo) the costs and expenses incurred in resolving disputes connection with other tenants, other occupants, property damage or prospective tenants or occupants of personal injury arising from the Project, collecting rents or otherwise enforcing leases of the tenants of the Project; (xi) the costs of any work or service performed for any facility other than a facility located within the Project; (xii) the costs of repairs, alterations, and general maintenance necessitated by the gross negligence or willful misconduct of Landlord or its agents, employeesemployees or contractors; (p) costs arising from Landlord's breach of this Lease; (q) costs of all items and services for which Tenant reimburses Landlord directly or pays to third parties, or contractors which Landlord provides selectively to one or repairs; more tenants or occupants of the Project (xiii) interest or penalties due to the late payment by Landlord of taxes, utility bills or other such costs (except to the extent caused by than Tenant’s action or inaction); (xivr) the wages and benefits of any employee who does not devote substantially all of his or her employed time to the following tax or assessment expenses: (a) estate, inheritance, transfer, gift, federal, state or franchise taxes of Landlord, or (b) penalties Project unless such wages and interest, other than those attributable benefits are prorated to Tenant’s failure reflect time spent on operating and managing the Project vis-à-vis time spent on matters unrelated to comply timely with its obligations pursuant to this Leaseoperating and managing the Project; and (xvs) bad debt expenses and charitable contributions and donations. Landlord agrees that (a) Landlord will not collect except as permitted under Paragraph 4.2.9 with respect to governmental laws or be entitled regulations enacted or newly enforced after the date of this Lease, any capital improvements relating to collect more than one hundred percent (100%) the structural portions of the Expenses actually paid by Landlord in connection with roof (but not the operation roof membrane), foundation, structural components of the Project in any calendar yearfloor slab (not caused by Lessee’s excessive load beyond slab rating), structural columns, and (b) Landlord shall make no profit from Landlord’s collection exterior walls of Expensesthe Building.

Appears in 1 contract

Samples: Lease Agreement (Zeltiq Aesthetics Inc)

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Exclusions from Expenses. Notwithstanding anything to the contrary contained in this Paragraph 4.2, and in addition to ------------------------ the exclusions definition of Expenses set forth in the preceding paragraphparagraph 4(a)(v) hereof, there Expenses shall be excluded from Expenses and Additional Rent the followingnot include: (i) any ground lease rental; (ii) costs incurred for goods and services (including utilities) sold or supplied to Tenant or other tenants or occupants of the Building to the extent Landlord receives direct and separate reimbursement of such costs from Tenant or other tenants or occupants of the Building; (iii) costs incurred for the repair of damage to the Building to the extent that Landlord is separately and directly reimbursed from any source (including, without limitation, by insurance, condemnation or warranty proceeds); (iv) costs (including permit, license and inspection costs but excluding costs of utilities) incurred for the installation of tenant improvements made for tenants or other occupants of the Building or otherwise for renovating, improving, painting or decorating space leased or available for leasing to tenants or other occupants of the Building; (v) depreciation and amortization except as specifically provided in paragraph 4(a)(v) hereof; (vi) leasing commissions, advertising expenses, promotional expenses, attorneys’ fees, disbursements, ' fees and other costs and expenses incurred in procuring connection with negotiations or disputes with present or prospective tenants, negotiating and executing leases, and constructing improvements required to prepare for a new tenant’s occupancy for tenants or other occupants of the Building or the Project, if anyBuilding; (iivii) finance and debt service feesexcept as specifically provided in paragraph 4(a)(v) hereof, principal and/or costs incurred for capital improvements or capital replacements as determined in accordance with generally accepted accounting principles consistently applied; (viii) interest on debt or amortization payments on any mortgages executed penalties incurred as the result of late payment by Landlord covering due to Landlord’s property, any other indebtedness of Landlord, 's active negligence (unless Landlord in good faith disputes a charge and rental under any ground lease subsequently loses or leases for the Building settles such dispute) or the Projectwillful misconduct; (iiiix) costs incurred for goods and services sold or supplied by Landlord or any depreciation allowance or expense, amortization (except for expenditures permitted under this Lease) or expense reserve; (iv) the costs of Landlord’s third party property manager or, if there is no third party property manager, administration rent in excess of the amount of 3.0% of Base Rent); (v) except for management fees, Landlord’s general overhead and any overhead or profit increment to any subsidiary or affiliate Affiliate of Landlord for services on or to the Project to the extent that the cost of such service exceeds competitive costs for such services rendered by persons or entities of similar skill, competence and experience other than a subsidiary or affiliate of Landlord; (vi) any costs or expenses representing any amount paid for services and materials to a (personal or business) related person, firm, or entity to the extent such amount exceeds costs exceed the amount that would have been paid for such service or materials at the then existing fair market rates in the absence value of such relationship; (vii) compensation paid to any employee of Landlord above the grade of Property Manager/Building Superintendent, including officers and executives of Landlord (provided that Landlord may pass through as Expenses compensation paid to employees at goods or below the grade of Property Manager/Building Superintendant or affiliates of Landlord providing services to the Project); (viii) costs of electrical energy furnished and metered directly to tenants of the Project or for which Landlord is entitled to be reimbursed by tenants as additional rental over and above tenant’s Monthly Base Rent or pass-through of Expenses; (ix) the cost of any work or service furnished to any tenant or occupant of the Project to a materially greater extent or in a materially more favorable manner than that furnished generally to the tenants and other occupants of the Project, or the costs of work or service furnished exclusively for the benefit of any tenant or occupant of the Project or at such tenant’s costservices; (x) interest and principal on any mortgage encumbering the Building and costs and expenses incurred in resolving disputes with other tenants, other occupants, or prospective tenants or occupants of the Project, collecting rents or otherwise enforcing leases of the tenants of the Projectrefinancing any such mortgage; (xi) wages, salaries, payroll taxes and other labor costs and employee benefits for personnel ratably to the costs extent such personnel do not devote time to the management, operation, maintenance and repair of any work or service performed for any facility other than a facility located within the ProjectBuilding; (xii) equipment rental or lease costs for renting or leasing major capital equipment for the costs operation of repairs, alterations, and general maintenance necessitated by the gross negligence or willful misconduct of Landlord or its agents, employees, or contractors or repairsBuilding determined in accordance with generally accepted accounting principles consistently applied; (xiii) interest or penalties due to the late payment costs arising from Hazardous Materials which were installed by Landlord or its officers, agents or employees and which, at the time of taxesinstallation, utility bills Landlord knew or other such costs (except to the extent caused by Tenant’s action or inaction)should have known were in fact Hazardous Materials; (xiv) any costs for the purchase of the following tax or assessment expenses: fine art (a) estateincluding, inheritancewithout limitation, transfer, gift, federal, state or franchise taxes of Landlord, or (b) penalties paintings and interest, other than those attributable to Tenant’s failure to comply timely with its obligations pursuant to this Leasesculptures); and (xv) bad debt expenses advertising and charitable contributions promotional expenditures primarily directed toward leasing tenant space in the Building, and donations. Landlord agrees that (a) Landlord will not collect the costs of signs in or be entitled to collect more than one hundred percent (100%) on the Building identifying any tenant of the Expenses actually paid by Landlord in connection with Building, except the operation of the Project in any calendar year, and (b) Landlord shall make no profit from Landlord’s collection of ExpensesBuilding directories.

Appears in 1 contract

Samples: Office Lease (Northpoint Communications Group Inc)

Exclusions from Expenses. Notwithstanding anything to the contrary contained in this Paragraph 4.24(b) above, and in addition to the exclusions set forth in the preceding paragraph, there Expenses shall be excluded from Expenses and Additional Rent not include the following: (i) Any costs or expenses for which Landlord is reimbursed, whether by an insurer, indemnitor, tenant, condemnor, or otherwise (other than by tenants as operating expenses); (ii) Landlord’s general overhead and general administrative expenses; (iii) Depreciation or amortization of the Premises, the Building, the Project or the contents or components thereof, except as specifically permitted under Paragraph 4(b)(ii)(A)(6) above; (iv) Expenses for the preparation of leasable space which Landlord performs for any tenant or prospective tenant of the Project; (v) Expenses incurred in leasing or obtaining new tenants or retaining existing tenants in the Project, including leasing commissions, advertising legal expenses, promotional expensesadvertising, attorneys’ entertaining or promotion including disputes with tenants and/or prospective tenants; (vi) Interest, amortization or other costs, including legal fees, disbursementsassociated with any mortgage, loan or refinancing of the Project or any Common Areas, transfer or recordation of taxes and other costs and expenses incurred charges in procuring prospective tenantsconnection with the transfer of ownership in the Premises, negotiating and executing leases, and constructing improvements required to prepare for a new tenant’s occupancy for the Building or the Project, if any; (ii) finance and debt service land trust fees, principal and/or interest on debt or amortization payments on any mortgages executed by Landlord covering Landlord’s property, any other indebtedness of Landlord, and rental due under any ground lease or leases for the Building or the Project; (iii) any depreciation allowance or expense, amortization (except for expenditures permitted under this Lease) or expense reserve; (iv) the costs of Landlord’s third party property manager or, if there is no third party property manager, administration rent in excess of the amount of 3.0% of Base Rent); (v) except for management fees, Landlord’s general overhead and any overhead or profit increment to any subsidiary or affiliate of Landlord for services on or related to the Project or any portion thereof; (vii) Expenses incurred for any necessary replacement of any item to the extent that the cost of such service exceeds competitive costs for such services rendered by persons or entities of similar skill, competence and experience other than a subsidiary or affiliate of Landlord; (vi) any costs or expenses representing any amount paid for services and materials to a (personal or business) related person, firm, or entity to the extent such amount exceeds the amount that would have been paid for such service or materials at the then existing market rates in the absence of such relationship; (vii) compensation paid to any employee of Landlord above the grade of Property Manager/Building Superintendent, including officers and executives of Landlord (provided that Landlord may pass through as Expenses compensation paid to employees at or below the grade of Property Manager/Building Superintendant or affiliates of Landlord providing services to the Project)it is covered under warranty; (viii) costs The cost of electrical energy furnished and metered directly any item or service which Tenant separately reimburses Landlord or pays to third parties, or which Landlord provides selectively to one or more tenants of the Project Project, other than Tenant, whether or for which not Landlord is entitled to be reimbursed by tenants as additional rental over and above tenant’s Monthly Base Rent or pass-through of Expensessuch other tenant(s); (ix) Accounting and legal fees relating to any specific lease or tenant, or to the cost enforcement of the terms of any work or service furnished to any tenant or occupant of the Project to a materially greater extent or in a materially more favorable manner than that furnished generally to the tenants and other occupants of the Project, or the costs of work or service furnished exclusively for the benefit of any tenant or occupant of the Project or at such tenant’s costlease; (x) the costs and expenses incurred in resolving disputes with other tenants, other occupants, or prospective tenants or occupants of the Project, collecting rents or otherwise enforcing leases of the tenants of the Project; (xi) the costs of any work or service performed for any facility other than a facility located within the Project; (xii) the costs of repairs, alterations, and general maintenance necessitated by the gross negligence or willful misconduct of Landlord or its agents, employees, or contractors or repairs; (xiii) interest or penalties due to the late payment by Landlord of taxes, utility bills or other such costs (except to the extent caused by Tenant’s action or inaction); (xiv) any of the following tax or assessment expenses: (a) estate, inheritance, transfer, gift, federal, state or franchise taxes of Landlord, or (b) penalties and interest, other than those attributable to Tenant’s failure to comply timely with its obligations pursuant to this Lease; and (xv) bad debt expenses and charitable contributions and donations. Landlord agrees that (a) Landlord will not collect or be entitled to collect more than one hundred percent (100%) of the Expenses actually paid by Landlord in connection with the operation of the Project in any calendar year, and (b) Landlord shall make no profit from Landlord’s collection of Expenses.”9

Appears in 1 contract

Samples: Lease Agreement (10x Genomics, Inc.)

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