LANDLORD'S OPERATING EXPENSES. (Article 7)
LANDLORD'S OPERATING EXPENSES. DEFINITION. "Landlord's -------------------------------------------- Operating Expenses" means all costs of Landlord in owning, servicing, operating, managing, maintaining, and repairing the Building, Land and all improvements thereon and providing services to tenants including, without limitation, the costs of the following: (i) supplies, materials and equipment purchased or rented, total wage and salary costs paid to, and all contract payments made on account of, all persons engaged in the operation, maintenance, security, cleaning and repair of the Building and Land, including Social Security, old age and unemployment taxes and so-called "fringe benefits"; (ii) building services furnished to tenants of the Building at Landlord's expense (including the types of services provided to Tenant pursuant to Section 4.1 hereof) and maintenance and repair of and services provided to or on behalf of the Building performed by Landlord's employees or by other persons under contract with Landlord; (iii) utilities consumed and expenses incurred in the operation, maintenance and repair of the Building including, without limitation, oil, gas, electricity (other than electricity to tenants in their Premises if Tenant is directly responsible for payment under this Lease on account of electricity consumed by Tenant), water, sewer and snow removal; (iv) casualty, liability and other insurance, and unreimbursed costs incurred by Landlord which are subject to an insurance deductible; (v) costs of operating any cafeteria, other food service facility, day care facility, or physical fitness facility for use of tenants generally; and (vi) management fees (not to exceed the management fees for the first Lease Year of the Term). Any Landlord Operating Expenses which partly benefit the Land or Building and partly benefit other land or buildings in the Xxxxx Xxxxx Office Park shall be allocated in accordance with current practices, consistently applied. If Landlord, in its sole discretion, installs a new or replacement capital item for the purpose of reducing or conserving the use of energy in the Building, complying with any building code or other law, regulation, or legal requirement, complying with requirements of any insurer, or otherwise relating to the operation of the Building, the cost of such item amortized over its useful life determined in accordance with generally accepted accounting principles with interest at the rate of two percent (2%) per annum above the so-called pr...
LANDLORD'S OPERATING EXPENSES. DEFINITION. "Landlord's Operating Expenses" means all costs actually paid or incurred in servicing, operating, managing, maintaining, and repairing the Building and the land, facilities and appurtenances thereto, including without limitation the costs of the following: (i) supplies, materials and total wage and labor costs and all costs and expenses of independent contractors paid or incurred on account of all persons engaged in the operation, maintenance, security, cleaning and repair of the Building and the land, facilities and appurtenances therefor including social security unemployment compensation, pension vacation, sick pay and other so-called "fringe benefits"; (ii) services furnished to tenants of the Building, including Tenant, by Landlord; (iii) utilities consumed and expenses incurred in the operation of the Building and the land, facilities and appurtenances thereto; (iv) casualty, liability, workmen's compensation and all other insurance expenses (and the amount of any deductible in the event of an insured loss), all insurance to be in such amounts and insuring against such risks as Landlord may, in its sole discretion from time to time decide; (v) snow removal, planting, landscaping, grounds and parking ration, maintenance and repair expenses; (vi) management fees to third parties, including Landlord's Managing Agent, which do not exceed those customarily paid with respect to buildings in the area which are similar to the Building, and fees for required licenses or permits; (vii) rental or reasonable depreciation of equipment used in the operation of the Building and the land, facilities and appurtenances thereto, and personal property taxes assessed upon such equipment; and (viii) expenses of periodic testing to assure that the premises and surrounding land are free of hazardous materials, agents or substances, and to assure compliance with codes, regulations and laws. In addition, if Landlord from time to time (i) repairs or replaces any existing improvements or equipment or (ii) installs any new improvements or equipment to the Building in order to retain the existing functions of the Building, comply with laws or conserve energy, (including without limitation energy conservation improvements or other improvements), then the cost of such items amortized over their reasonable life, together with an actual or imputed interest rate (at the level then being charged by institutional first mortgagees for new permanent first mortgage loans on bu...
LANDLORD'S OPERATING EXPENSES. (a) "Operating Expenses" shall mean any or all expenses incurred by Landlord in connection with the operation of the Real Property, including all expenses incurred as a result of Landlord's compliance with any of its obligations hereunder, other than the work to be performed by Landlord in accordance with Exhibit "C", and such expenses shall include but not be limited to: (i) salaries, wages, medical, surgical and general welfare benefits (including group life insurance) and pension payments of employees of Landlord engaged in the operation and maintenance of the Building; (ii) payroll taxes, worker's compensation, uniforms and dry cleaning of uniforms for the employees referred to in subdivision (i); (iii) the cost of all charges for oil, gas, electricity (including, but not limited to, fuel cost adjustments), steam, heat, ventilation, air conditioning and water (including sewer rental and assessments) furnished to the building (including common areas thereof) including any taxes on any such utilities, but excluding therefrom the cost, including taxes thereon, of electric energy furnished directly other tenants of the building or of electrical energy furnished directly to the premises for purposes other than for heating and air-conditioning (which costs shall be borne by Tenant pursuant to the provisions of Article 15 hereof); (iv) the cost of all charges for rent-loss, casualty, war risk insurance (if obtainable from the United States government) and of liability insurance for the building; (v) the cost of all building and cleaning supplies for the common areas of the building and charges for telephone for the Building; (vi) the cost of all charges for management, window cleaning and service contracts with independent contractors for the common areas of the Building; and (vii) legal and accounting expenses and any other expense or cost, which, in accordance with generally accepted accounting principles and the standard management practices for office buildings comparable to the Building, would
LANDLORD'S OPERATING EXPENSES. Tenant shall pay as Additional Rent to Landlord operating expenses for landscape maintenance, sand/salt and perimeter lighting maintenance. Payment shall be made either on a monthly basis or on an occurrence basis. Snow removal costs will be split between the Tenant and the Landlord. Each party is responsible for fifty percent (50/50). It is the Tenant’s responsibility to hire the snow removal contractor.
LANDLORD'S OPERATING EXPENSES. 2.1. Tenant shall pay to Landlord, as Additional Rent, Tenant’s Proportionate Share of the amount by which Landlord’s Operating Expenses for any Lease Year (except the Base Year) during the Term exceeds the Base Operating Expenses. Tenant’s Proportionate Share of such excess for less than a year shall be prorated and apportioned.
2.2. In the event less than ninety-five (95%) of the Rentable Area of the Building is occupied during any Lease Year, Landlord’s Operating Expenses during said calendar year shall be projected as if the Rentable Area of the Building were ninety-five (95%) occupied for that entire Lease Year.
2.3. Within ninety (90) days following the first day of each Lease Year (excluding the Base Year) within the Term, Landlord shall determine or estimate Landlord’s Operating Expenses for such Lease Year (excluding the Base Year) (“Landlord’s Estimated Operating Expenses”) and shall submit such information to Tenant in a written statement (“Landlord’s Expense Statement”).
2.4. Commencing on the first day of the first month following the submission of any Landlord’s Expense Statement and continuing thereafter until Landlord renders the next Landlord’s Expense Statement, Tenant shall pay to Landlord on account of its obligation under Section 2.1 of this Lease, a sum (the “Monthly Expense Payment”) equal to one-twelfth (1/12) of Tenant’s Proportionate Share of the amount by which Landlord’s Estimated Operating Expenses for such Lease Year exceeds the Base Operating Expenses. Tenant’s first Monthly Expense Payment after receipt of Landlord’s Expense Statement shall be accompanied by the payment of an amount equal to the product of the number of full months, if any, within the Lease Year which shall have elapsed prior to such first Monthly Expense Payment, times the Monthly Expense Payment; minus any Additional Rent already paid by Tenant on account of its obligation under Section 2.1 of this Lease for such Lease Year.
2.5. Each Landlord’s Expense Statement shall reconcile the payments made by Tenant pursuant to the preceding Landlord’s Expense Statement with Tenant’s Proportionate Share of Landlord’s Operating Expenses for the period covered thereby. Any balance due to Landlord shall be paid by Tenant within thirty (30) days of receipt of Landlord’s Expense Statement and any surplus shall be applied by Landlord against the next accruing monthly installment(s) of Additional Rent, or if the Lease shall have expired, such surplus shall be refunded to T...
LANDLORD'S OPERATING EXPENSES. LANDLORD'S share of Operating Expenses is computed by multiplying the number of net rentable square feet applicable to the Premises by $5.00 per square foot.
LANDLORD'S OPERATING EXPENSES. Notwithstanding anything to the contrary in the Lease, during the Expansion Term, Landlord’s Operating Expenses shall include costs incurred by Landlord in connection with installing, subsidizing and operating Project amenities and specialty services (such as a telecommunications facility, fitness center, gym or other athletic or recreational club, conference center, or a tenant only lounge area and the like) located in the Project for use by tenants generally to the extent such costs exceed the net income received therefrom (provided that such costs shall be allocated to Phase 2 in the ratio which the Total Rentable Floor Area of the Building bears to the total Rentable Floor Area of Phase 1 in the absence of circumstances determined by Landlord to dictate a special allocation). Accordingly, the words “the cost of installing or subsidizing any specialty services, such as the parking facility, an observatory, broadcasting or telecommunications facility, retail store, sundries shop, newsstand, cafeteria, hotel or dining facility, or athletic or recreational club” are hereby deleted from the last sentence of the first paragraph of Section 2.6.3.
LANDLORD'S OPERATING EXPENSES defined in Section 5.1(a). Landlord’s Tax Statement: defined in Section 4.2. Lease Year: each calendar year, or partial calendar year, during the Term. Legal Requirements: all statutes, codes, ordinances, regulations, rules, orders, directives and requirements of any governmental entity, authority, agency, bureau, board, office, commission and/or department (or official thereof), and including covenants and restrictions of record, which now or at any time hereafter may be applicable to the Property or any part thereof, including, but not limited to, all Environmental Laws.
LANDLORD'S OPERATING EXPENSES. If in any Lease Year (the "First Lease Year" being hereby defined as the first period of twelve (12) months following the date on which Tenant is obligated under the Lease to commence paying monthly rental, and a "Lease Year" being defined as the First Lease Year and each twelve month period thereafter during the terms of the Lease) the Actual Operating Expenses, as defined hereinbelow, exceed the First Lease Year's Operating Expenses of the building in which the Premises are located (for the purposes of Operating Expense calculations, the term "Building" shall include the building in which the Premises are located and the common areas thereof usable under the Lease by Tenant and its employees), Tenant agrees to pay Landlord, as maintenance rent ("Maintenance Rent"), a Proportionate Share of such excess Operating Expenses based on the ratio of the net rentable area of the Premises to the net rentable area of the Building, which Proportionate Share shall be deemed to be fifty percent (50%) and is hereinafter referred to as "Tenant's Proportionate Share".
