Included Operating Costs. “Operating Costs” means any expenses, costs and disbursements of any kind other than Taxes and other items excluded below, paid or incurred by Landlord in connection with the management, maintenance, operation, insurance, repair and other related activities in connection with any part of the Project and of the personal property, fixtures, machinery, equipment, systems and apparatus used in connection therewith, including the cost of providing those services and utilities required to be furnished by Landlord under this Lease. Operating Costs shall also include amortization over their useful life of the costs of any capital improvements which have a reasonable expectation of reducing Operating Costs, improving safety or enhancing the Project, and those made to keep the Project in compliance with Governmental Requirements that take effect from time to time after the Commencement Date (collectively, “Included Capital Items”). Neither Included Capital Items nor Operating Costs shall include any structural additions, modifications to increase rentable area or other capital improvements that enhance the Project unless Tenant has approved the expenditures and their inclusion in Operating Costs in advance. If the Project is not fully occupied during any portion of any fiscal year, Landlord may reallocate (an “Equitable Adjustment”) certain types of Operating Costs so that Tenant pays what it would have paid had the Project been fully occupied. This Equitable Adjustment shall apply only to Operating Costs which vary with occupancy rates and therefore increase as occupancy of the Project increases (such as janitorial services in the areas occupied by tenants). The Equitable Adjustment shall not apply to Taxes, repairs or Maintenance to the Building as a whole, insurance, or other items that do not vary with occupancy. Landlord may incorporate the Equitable Adjustment in its estimates of Operating Costs provided that it includes a reasonably detailed explanation of how the Equitable Adjustment was calculated. Landlord may not use the Equitable Adjustment to recover more than 100% of its out of pocket costs.
Included Operating Costs. “Operating Costs” means any expenses, costs and disbursements of any kind other than Electrical Costs, paid or incurred by Landlord in connection with the management, maintenance, operation, insurance, repair and other related activities in connection with any part of the Project and of the personal property, fixtures, machinery, equipment, systems and apparatus used in connection therewith, including the cost of providing those services required to be furnished by Landlord under this Lease and Taxes (as defined below). Operating Costs shall also include an annual capital reserve equal to the product of $0.15 times the Rentable Square Feet of the Premises (the “Capital Reserve Amount”). If the Project is not fully occupied during any portion of any fiscal year, Landlord may adjust in a manner equitable to Tenant and the other tenants in the Project (an “Equitable Adjustment”) Operating Costs to equal what would have been incurred by Landlord had the Project been fully occupied. This Equitable Adjustment shall apply only to Operating Costs which are variable and therefore increase as occupancy of the Project increases. Landlord may incorporate the Equitable Adjustment in its estimates of Operating Costs.
Included Operating Costs. “Operating Costs” means any expenses, costs and disbursements of any kind other than Taxes and Electrical Costs, paid or incurred by Landlord in connection with the management (any management fees, however, not to exceed 3% of gross rents from time to time), maintenance, operation, insurance, repair and other related activities in connection with any part of the Project and of the personal property, fixtures, machinery, equipment, systems and apparatus used in connection therewith, including the cost of providing those services required to be furnished by Landlord under this Lease. Operating Costs shall also include the costs of any capital improvements which are intended to reduce Operating Costs or improve safety, and those made to keep the Project in compliance with governmental requirements applicable from time to time (collectively, “Included Capital Items”); provided, that the costs of any Included Capital Item shall be amortized by Landlord, together with an amount equal to interest at nine percent (9%) per annum, over the estimated useful life of such item calculated in accordance with generally accepted accounting principles consistently applied (“GAAP”) and such amortized costs are only included in Operating Costs for that portion of the useful life of the Included Capital Item which falls within the Term. If the Project is not fully occupied during any portion of any fiscal year, Landlord may adjust (an “Equitable Adjustment”) Operating Costs to equal what would have been incurred by Landlord had the Project been fully occupied. This Equitable Adjustment shall apply only to Operating Costs which are variable and therefore increase as occupancy of the Project increases. Landlord may incorporate the Equitable Adjustment in its estimates of Operating Costs.
Included Operating Costs. Landlord Operating Costs" means all Operating Costs as defined in the Master Lease. Landlord Operating Costs charged to Subtenant by Sublandlord shall not exceed Five Thousand Dollars ($5,000.00) per year in connection with repair and maintenance of the roof membrane of each Building, which amount shall be increased by four percent (4%) per year, and shall not include Landlord Operating Costs for structural maintenance and repair and elevator maintenance for buildings in the Project other than the Premises.
Included Operating Costs. Operating Costs shall mean and include all costs and expenses of ownership, management, operation, repair and maintenance (excluding depreciation of the improvements and amounts paid on Landlord’s loans) of the Project during the Term in accordance with customary and generally accepted real estate management and accounting principles (“GAAP”). “Operating Costs” shall include the following:
Included Operating Costs. Operating Costs" means any expenses, costs and disbursements of any kind other than Taxes, paid or incurred by Landlord in connection with the management, maintenance, operation, insurance, replacement (to the extent provided below), repair and other related activities in connection with any part of the Property and of the personal property, fixtures, machinery, equipment, systems and apparatus used in connection therewith, including the cost of providing those services required to be furnished by Landlord under this Lease, any utilities not separately metered to Tenant and a management fee equal to one thousand dollars ($1,000) per month. Operating Costs shall also include the costs of any capital improvements which are intended to reduce Operating Costs or improve safety, and those made to keep the Property in compliance with governmental requirements enacted after the Effective Date, or to replace existing capital improvements, facilities and equipment within the Building or the common areas of the Property, such as landscaping costs and the resurfacing of the parking areas, which are not otherwise covered by warranties and insurance proceeds, and minor capital improvements, tools or expenditures to the extent each such improvement or acquisition costs less than Three Thousand Dollars ($3,000) and the total cost of such minor capital improvements or acquisitions in any twelve month period does not exceed Ten Thousand Dollars ($10,000) (collectively, "Included Capital Items"), provided that the costs of any Included Capital Item shall be amortized by Landlord, together with an amount equal to interest at six and one-half percent (6.5%) per annum, over the estimated useful life of such item and only amortized costs are included in Operating Costs, unless the cost of the Included Capital Item is less than Ten Thousand Dollars ($10,000) in which case it shall be expensed in the year in which it was incurred.
Included Operating Costs. Operating Costs" means the reasonable expenses, costs and disbursements of any kind other than Taxes, paid or incurred by Landlord in connection with the management, maintenance, operation, insurance, repair and other related activities in connection with any part of the Project and of the personal property, fixtures, machinery, equipment, systems and apparatus used in connection therewith, including the reasonable cost of providing those services required to be furnished by Landlord under this Lease. Operating Costs shall also include the costs of any capital improvements which are intended to reduce Operating Costs or improve safety, and those made to keep the Project in compliance with governmental requirements applicable from time to time (collectively, "Included Capital Items"); provided, that the costs of any Included Capital Item shall be amortized by Landlord, together with an amount equal to interest at two percent (2%) above SeaFirst's prime rate of interest per annum, over the estimated useful life of such item and such amortized costs are only included in Operating Costs for that portion of the useful life of the Included Capital Item which falls within the Term.
Included Operating Costs. Landlord Operating Costs" means all Operating Costs as defined in the Master Lease.
Included Operating Costs. Operating Costs" means any expenses, costs and disbursements of any kind other than Taxes, paid or incurred by Landlord in connection with the management, maintenance, operation, insurance, repair and other related activities in connection with any part of the Project and of the personal property, fixtures, machinery, equipment, systems and apparatus used in connection therewith, including the cost of providing those services required to be furnished by Landlord under this Lease, in accordance with generally accepted accounting principles, consistently applied. Operating Costs shall also include the costs of any capital improvements which are intended, in Landlord's reasonable judgment, to reduce Operating Costs or improve safety, and those made to keep the Project in compliance with Governmental Requirements applicable from time to time (collectively, "Included Capital Items"); provided, that the costs of any Included Capital Item shall be amortized on a straight line basis by Landlord over the estimated useful life of such item and such amortized costs are only included in Operating Costs for that portion of the useful life of the Included Capital Item which falls within the Term.
Included Operating Costs. “Operating Costs” means any expenses, costs and disbursements of any kind other than Taxes, paid or incurred by Landlord in connection with the management, maintenance, operation, insurance, repair and other related activities in connection with any part of the Project and of the personal property, fixtures, machinery, equipment, systems and apparatus used in connection therewith, including a property management fee to Landlord of 2.5% of the Base Rent payable under this Lease. Operating Costs shall also include the costs of any capital improvements (each, a “Capital Item”); provided, that the costs of any Capital Item shall be amortized on a straight line basis by Landlord, together with interest at 8% per annum, over the useful life of such item (as determined in accordance with GAAP), and such amortized costs are only included in Operating Costs for that portion of the useful life of the Capital Item which falls within the Term.
