Increase in Operating Expenses. (a) The base year (the “Base Year”) for purposes of this Lease shall be the calendar year 2015. “Operating Expenses” shall mean the expenses incurred by Landlord in the operation, administration and maintenance of the Premises and of the “Common Areas” of the Building and the Corporate Campus 1, as applicable, other than the Premises and all other demised premises in Corporate Campus 1 designated for occupancy by tenants, in a first class manner and in accordance with sound and reasonable practices for facilities of a like kind and character in accordance with (and subject to) Exhibit “F” hereto. Subject to Exhibit F, Operating Expenses for the Common Areas shall include, without limitation, all expenses incurred by Landlord in connection with the Campus Road and sewage pump station and related equipment serving Corporate Campus 1 which, in accordance with generally accepted accounting principles consistently applied, as applied to the operation and maintenance of first-class office parks, are properly chargeable to the operation and maintenance of Corporate Campus 1. Tenant’s proportionate share of Operating Expenses for Corporate Campus 1 is 9.11% (“Tenant’s Proportionate Share Park”); Tenant’s proportionate share of Operating Expenses for the Building is 54.48% (“Tenant’s Proportionate Share Building”). (“Tenant’s Proportionate Share Park” and “Tenant’s Proportionate Share Building” are hereinafter referred to, collectively, as “Tenant’s Proportionate Shares”). Tenant’s Proportionate Shares shall also apply to Increases in Real Estate Taxes as provided in Article 8 hereof. Tenant’s Proportionate Shares shall be adjusted, as necessary, to reflect increases only in the total rentable square feet contained in Corporate Campus 1, resulting from construction of space therein, or any other cause.
Increase in Operating Expenses. Tenant shall pay to Landlord Tenant's Share of the Increase in Operating Expenses. The "Increase xx Xxxrating Expenses" is the increase in Operating Expenses in any calendar year over the Operating Expenses in the Base Year.
Increase in Operating Expenses. If the Operating Expenses during any calendar year within which the Term of the Lease falls in whole or in part exceeds the Base Year Operating Expenses, Tenant will pay to Landlord as additional rent Tenant’s Proportionate Share of any such excess. There will be an annual cap of 5% on Landlord’s controllable expenses (e.g., in no event shall the controllable Operating Expenses increase by more than 5% over the prior year Operating Expenses and any amounts in excess thereof shall be at Landlord’s sole expense). Any such payments will be prorated for the last year of the Term. Controllable expenses shall mean all expenses other than real property taxes, insurance premiums, water, electric/natural gas expense, and snow and ice removal.
Increase in Operating Expenses. Rent shall include Tenant's Percentage Share of the total dollar increase, if any, in the Operating Expenses paid or incurred by Landlord during the calendar year over the Operating Expenses paid or incurred by Landlord during the Base Year.
Increase in Operating Expenses. (a) Within a reasonable period of time after the expiration of the Base Year and each Operational Year, Sublandlord shall furnish to Subtenant a written statement prepared by Sublandlord of the Operating Expenses incurred for such year. Sublandlord shall use good faith efforts to deliver such statement to Subtenant within one hundred twenty (120) days after the expiration of the Base Year and each Operational Year. Within thirty (30) days after receipt of such statement for any Operational Year setting forth Subtenant’s Share of any increase of Operating Expenses during such Operational Year over the Operating Expenses in the Base Year (said increase being referred to herein as the “Cost Increase”), Subtenant shall pay same (less the amount of Subtenant’s Estimated Share paid by Subtenant on account thereof) to Sublandlord as Additional Rent.
(b) Commencing with the first Operational Year, Sublandlord may make a good faith estimate of the Additional Rent to be due by Subtenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar year of the Term after the Base Year, Subtenant shall pay to Sublandlord, in advance concurrently with each monthly installment of Fixed Rent, an amount equal to the estimated Additional Rent for such calendar year or part thereof divided by the number of months therein. From time to time, Sublandlord may estimate and re-estimate the Additional Rent to be due by Subtenant and deliver a copy of the estimate or re-estimate to Subtenant. Thereafter, the monthly installments of Additional Rent payable by Subtenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Subtenant shall have paid all of the Additional Rent as estimated by Sublandlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Expenses are available for each calendar year.
(c) If Sublandlord’s Statement at the end of the Operational Year just completed shall indicate that Subtenant’s Estimated Share exceeded Subtenant’s Share of the Cost Increase, Sublandlord shall issue a credit to Subtenant for the amount of such excess against the subsequent payments of Additional Rent due hereunder. If Sublandlord’s Statement shall indicate that Subtenant’s Share of the Cost Increase exceeded Subtenant’s Estimated Share for the completed Operational Year, then Subtenant shall pay the amount of such exc...
Increase in Operating Expenses. (a) The base year (the "Base Year") for purposes of this Lease shall be calendar 2001. "Operating Expenses" shall mean the expenses incurred by Landlord in the operation, administration and maintenance of the Demised Premises and of the "Common Areas" of Corporate Campus 1, other than the Demised Premises and all other demised premises in Corporate Campus 1 designated for occupancy by tenants, in a first class manner and in accordance with sound and reasonable practices for facilities of a like kind and character in accordance with (and subject to) Exhibit "C" hereto. Operating Expenses for the Common ----------- Areas shall include, without limitation, all expenses incurred by Landlord in connection with the
Increase in Operating Expenses. Notwithstanding anything in this Lease to the contrary, increases in Operating Expenses shall, with the exception of real estate taxes, utility charges, security expenses, insurance premiums and costs, and the cost of complying with governmental requirements, be limited to a per year cumulative increase of five percent (5%), compounded annually. Increases in real estate taxes, utility charges, security expenses, insurance premiums and costs, and the cost of complying with governmental requirements shall not be subject to any limit or “cap.”
Increase in Operating Expenses. The members intend that, during the first three Contract Years, the overhead and operating expenses of the Company (before the incentive bonus provided for by Section 7.6 hereof) will not increase significantly relative to revenue over those experienced while the Company's business was conducted by P&P. In no event may the overhead and operating expenses of the Company (other than such incentive bonus) for any Contract Year exceed such items for the immediately preceding Contract Year (or, for the first Contract Year, as set forth in the budget attached hereto as a part of Schedule 6.8) by more than 25% without the prior written consent of each and every Member, except where such increase is proportionate to an increase in the Company's revenues.
Increase in Operating Expenses. Pass-Through. -------------------------------------------
Increase in Operating Expenses. Commencing January 1, 2005, Tenant shall pay to Landlord five and 14/100 percent (5.14%) (being the stipulated proportion which the rentable area of the Premises bears to the total rentable office area of the Building) of the increase in Operating Expenses during the Term over Initial Operating Expenses.
