Expense Rent. Commencing on the first day of the first month following the Lease Commencement Date (the "Rent Commencement Date") and continuing on the first day of each month thereafter throughout the Lease Term, to the extent not required by Landlord to be contracted for and paid directly by Tenant, Tenant shall pay to Landlord as rent an amount equal to Tenant's Pro Rata Share of all Expenses (as defined in Article 1) incurred by Landlord (the "Expense Rent"). Payment shall be made as follows:
Expense Rent. Tenant shall pay the Landlord as additional rent, the Tenant's share of expense rent as provided in Article 5.
Expense Rent. For each calendar year following the Base Year, an amount ("Expense Rent") equal to the Tenant's Percentage Share of the amount by which (A) the Building's Share of Operating Expenses for such calendar year, exceeds (B) the Building's Share of Operating Expenses for the Base Year. As used herein, the "Building's Share" of Operating Expenses shall mean all Operating Expenses attributable solely to the Building, and an equitable portion of the Operating Expenses attributable to the Project Common Areas or the Project as a whole; provided, however, that the basis for such allocation to each building of Operating Expenses attributable to Project Common Areas or the Project as a whole shall be the fraction of total Project Rentable Area included within such building unless Landlord in good faith determines that an alternate manner of allocation is more equitable.
Expense Rent. 5.1 For the purposes of this Article 5 and this Lease, the following words and phrases shall have the meaning indicated:
Expense Rent. Tenant shall pay as additional rent during the term Tenant's share (as per paragraph 1(f)) of the operating expenses (as hereinafter defined) of the property for each calendar year during the term of the lease. The term "expense rent" or "expenses" shall mean all costs incurred by Landlord in connection with the operation and maintenance of the entire parcel of land and improvements thereon of which the premises are a part (all of which is hereinafter called the "property") but excluding interest or amortization payments of any mortgage, but including but not limited to real estate taxes, common area expenses, common area charges of Commercenter/Totowa, common utility expenses, repair and maintenance expenses and insurance expenses. Tenant's share of common area charges of Commercenter/Totowa, as defined in Section 6, shall only be 3.91% of such charges, and Tenant's share of other expenses shall be 49.6
Expense Rent. For each calendar year following the Base Year, an ------------ amount ("Expense Rent") equal to the product of (i) the difference between (A) the Basic Costs per square foot of Rentable Area of office space in the Project in years following the Base Year, less (B) the Expense Factor, and (ii) the Rentable Area of the Premises. "Expense Factor" shall mean Basic Costs per square foot of Rentable Area of office space in the Project for the Base Year.
Expense Rent. The rate used in calculating Base Rent includes an Expense Stop (herein so called) of the dollar amount per square foot of Rentable Area which is determined by dividing the total amount of Expenses for calendar year 2005 (as calculated pursuant to Section 3.7 and 3.8) for the Building as annualized to full occupancy by ninety-five percent (95%) of the number of square feet of Rentable Area in the Building. Lessee shall pay additional rent ("Expense Rent") beginning as of January 1, 2006, equal to the product of the number of square feet of Rentable Area in the Premises times a rate each calendar year (the "Excess Expense Rate") that equals the amount in that year by which Expenses per square foot of Rentable Area in the Building exceed the Expense Stop. Expense Rent shall be payable in monthly installments based on Lessor's then current estimate of the Excess Expense Rate. If such estimate is not ready at the beginning of a calendar year, then Lessee shall continue to pay the same amount of monthly Expense Rent as had been required for the preceding year until Lessee receives Lessor's estimate for the then-current year, and Lessor shall provide Lessee with written notice of such estimate no later than July 1 of such calendar year and applied retroactively to January 1 of such year. As soon as available each calendar year beginning in 2007, but in no event later than June 1 of each year, Lessor shall furnish Lessee a written reconciliation statement showing actual Expenses for the prior year and the amount of any underpayment or overpayment of estimated Expense Rent by Lessee. Any underpayment shall be payable within ten (10) days after delivery of the reconciliation statement. Any overpayment shall be applied in a lump sum against the next installment(s) of rent due from Lessee, or if Lessor chooses, shall be refunded to Lessee.
Expense Rent. Tenant shall pay as additional rent during the term Tenant's Share (as per Paragraph 1(f)) of the operating expenses (as hereinafter defined) of the Property for each calendar year during the term of this lease. The term "expense rent" or "expenses" shall include a management fee of 3.5% of the fixed rental payable pursuant to Paragraph 1(e) and all costs incurred by Landlord in connection with the operation and maintenance of the Property, but excluding interest or amortization payments of any mortgage, but including but not limited to real estate taxes, common area expenses, certain utility expenses, repair and maintenance expenses and insurance expenses. Real estates taxes payable as a common area expense by Tenant shall be subject to adjustment by Landlord equitably increasing or decreasing Tenant's share of real estate taxes to reflect improvements made to the building either by Tenant hereunder or another tenant of the building that result in disproportionate value of one area of the building to another area of the building which improvements cause an increase to the real estate taxes payable for the Building and Property. Such adjustment shall be made by Landlord in its sole judgment. If Tenant contests Landlord's adjustment, then Landlord shall engage at the expense of Tenant the services of a real estate appraiser who is expert and experienced as a witness in New Jersey tax appeals to make the allocation and such appraiser's allocation shall be binding on Landlord and Tenant. The appointment of the appraiser shall be subject to the reasonable approval of Tenant. All payments Tenant is required to make pursuant to this Lease shall constitute additional rent and if Tenant defaults in any such payments so as to create an event of default (as hereinafter defined), Landlord shall have (in addition to any rights and remedies granted hereby) all rights and remedies provided by law for nonpayment of rent.
Expense Rent. Tenant shall pay as additional rent during the term Tenant's share (as per Paragraph 1(f)) of the operating expenses (as hereinafter defined) of the property for each calendar year during the term of the lease. The term "expense rent" or "expenses" shall mean all reasonable costs incurred by Landlord in
Expense Rent. In addition to the Base Rent owed pursuant to Item 8 of the Summary, for each Calendar Year following the Base Year, Lessee shall pay an amount (“Expense Rent”) equal to Lessee’s Percentage Share of Basic Costs of the Project in excess of Lessee’s Percentage Share of Basic Costs of the Project for the Base Year. Notwithstanding any contrary provision hereof, Controllable Basic Costs (defined below) shall not increase after the Base Year by more than five percent (5%) per calendar year, as determined an a compounding and cumulative basis. By way of example and not of limitation, if Controllable Basic Costs for the Base Year are $10.00 per rentable square foot, then Controllable Basic Costs for the first Calendar Year after the Base Year shall not exceed $10.50 per rentable square foot; Controllable Basic Costs for the second Calendar Year after the Base Year shall not exceed $11.025 per rentable square foot; and so on. As used herein, “Controllable Basic Costs” means all Basic Costs other than (i) cost of utilities, (ii) insurance premiums and deductibles, (iii) capital expenditures, (iv) any market-wide cost increases resulting from extraordinary circumstances, including Force Majeure, boycotts, strikes, conservation surcharges, embargoes and shortages, (v) the cost of any repair or replacement that Landlord reasonably expects with not recur on an annual or more frequent basis, (vi) costs of materials, supplies and removal of debris, (vii) costs of real property taxes, (viii) costs of union labor (including labor that is unionized after the date hereof), (ix) janitorial service, and (x) costs incurred to comply with Law. For purposes of determining Controllable Basic Costs, any management fee shall be calculated without regard to any free rent, abated rent, or the like.
