Expense Stop Sample Clauses
An Expense Stop clause sets a limit on the amount of operating expenses a landlord will cover for a leased property, with any costs above this threshold being the responsibility of the tenant. Typically, the expense stop is based on a specific dollar amount or the actual expenses incurred during a base year, and applies to costs such as maintenance, utilities, and property taxes. This clause is commonly used in commercial leases to allocate the risk of rising operating expenses, ensuring that landlords are protected from unexpected increases while tenants are incentivized to monitor and manage shared costs.
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Expense Stop. Effective as of November 1, 2012, notwithstanding anything contained in the Lease to the contrary, for purposes of calculating Tenant's Proportionate Share of Excess Operating Expenses, the Tenant's Base Year shall be calendar year 2013, and its Expense Stop, as defined in Exhibit "A" to the Lease, shall be the Operating Expenses for calendar year 2013. In addition to those expenses that are not to be included as Operating Expenses, as provided in section (b) of the definition of Operating Expenses in the Lease, the following shall not be included as Operating Expenses:
i. that portion of Landlord's general corporate overhead and general administrative expenses for services not specifically performed for the Building; costs associated with the operation of the business of the partnership or entity which constitutes Landlord, or the operation of any parent, subsidiary or affiliate of Landlord, as the same are distinguished from the costs of operation of the Building, including Landlord's legal matters, risk management, corporate and/or partnership accounting and legal costs, mortgages, debt costs or other financing charges; costs of defending any lawsuits, costs of selling, syndicating, financing, mortgaging or hypothecating any of Landlord's interest in the Building;
Expense Stop. Paragraph 1.19 of the Lease is hereby deleted in its entirety and replaced with the following: Building operating costs for calendar year ending December 31, 2001.
Expense Stop. (See Section 4.02) The Expense Stop shall be established by using the actual expenses of the Building during the calendar year 2014, grossed up to reflect a 95% occupied building as well as a fully assessed building for property tax purposes. Landlord shall provide Tenant with written notice of the Expense Stop within thirty (30) days after the end of the year.
Expense Stop. Landlord and Tenant agree that effective upon the Commencement Date, Tena▇▇'▇ ▇xpense stop for the Expansion Space only shall change to reflect the actual Operating Expenses for calendar year 1999.
Expense Stop. Effective as of March 1, 2015, notwithstanding anything contained in the Lease to the contrary, for the purposes of calculating Tenant's Proportionate Share of Excess Operating Expenses, the Tenant's Base Year shall be calendar year 2015, and its Expense Stop, as defined in the Lease, shall be the Operating Expenses for the calendar year 2015.
Expense Stop. Effective as of the New Space Commencement Date, the Expense Stop shall be based upon a 2016 Base Year, and accordingly Section 1.1(j) of the Lease (and Section 4 of the Second Amendment) shall be modified to delete the phrase “2007 Operating Year” (and “2012 Operating Year”) and replace it with “2016 Operating Year”. Operating Costs shall be calculated as if the Building were 95% occupied and 100% assessed for Taxes. Notwithstanding the foregoing, for purposes of calculating the amount of Operating Costs payable by Tenant, commencing in calendar year 2017, Operating Costs (with the exception of Uncontrollable Expenses (defined below)) shall not exceed for any calendar year during the New Space Term, the amount of Operating Costs for the preceding calendar year plus five percent (5%) (compounded annually) (the “Cap”). Any increases in Operating Costs not recovered by Landlord due to the foregoing limitation shall be carried forward into all succeeding calendar years during the New Space Term (subject to the foregoing limitation) until fully recouped by Landlord (provided that at the expiration of the New Space Term any amounts not carried forward due to the Cap shall not be recoverable from Tenant). The term “Uncontrollable Expenses” means expenses relating to the cost of utilities, insurance, real estate taxes and other uncontrollable expenses (such as, but not limited to, increases in the minimum wage which may affect the cost of service contracts).
Expense Stop. Upon the Effective Date, the Expense Stop for the Expansion Space only will be calendar year 2012.
Expense Stop. Effective as of July 1, 2015 and only as it relates to periods from and after such date, Tenant’s Expense Stop, as such term is defined in Section 5 of the First Amendment, shall be Tenant’s Share of Operating Expenses incurred by Landlord during the 2015 calendar year.
Expense Stop. The term “Expense Stop” shall mean an amount equal to $8.25 per rentable square foot of the Building. Notwithstanding any provision herein to the contrary, Landlord hereby agrees that except for Taxes, insurance, utilities, snow and ice removal, and expenses incurred due to Acts of God for which Landlord is not otherwise reimbursed through insurance or other third party sources (collectively, “Uncontrollable Expenses”), the Operating Expenses for the Building shall not increase, on a cumulative and compound basis, by more than five percent (5%) per annum for purposes of calculating Tenant’s Proportionate Share. Tenant shall pay the full amount of Tenant’s Proportionate Share of increases in Uncontrollable Expenses.
Expense Stop. Landlord and Tenant agree to establish 1995 as PROVISIONS base year for building operating expenses. It is agreed that this Lease comprises 15% (fifteen percent) of the building.