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. (Article 7)
LANDLORD'S OPERATING EXPENSES. For the purposes of this Lease, the term “Landlord’s Operating Expenses” shall mean all expenses paid or incurred by Landlord (or on Landlord’s behalf) as reasonably determined by Landlord (in accordance with generally accepted accounting principles, if applicable or appropriate) to be necessary or appropriate for the efficient operation, management (if applicable pursuant to Section 12.2), maintenance and repair of the Premises, including without limitation: (i) the cost of all charges of insurance; (ii) charges of independent contractors performing repairs or services to the Premises or wages, benefits and applicable taxes on Landlord’s employees providing management, maintenance and repair services at the Premises, to the extent such items are reasonably allocable to the Premises in accordance with generally accepted accounting principles; (iii) alterations and improvements to the Premises made by reason of changes to laws and requirements of any public authorities or the requirements of insurance bodies after the Lease Commencement Date, the cost of which shall be amortized (with interest at the Rate on the unamortized balance) over the useful life of such improvements in accordance with generally accepted accounting principles; (iv) intentionally deleted; (v) reasonable legal, accounting and other professional fees incurred in connection with operation, maintenance and management of the Premises except for Landlord’s negligence or violation of Legal Requirements; (vi) Taxes as defined in Section 4.3; (vii) all other charges properly allocable to the operation, repair and maintenance of the Premises in accordance with generally accepted accounting principles; and (viii) intentionally deleted. Notwithstanding the foregoing, Landlord’s Operating Expenses shall not include any expense for items outlined as
LANDLORD'S OPERATING EXPENSES. 7.3.1 Commencing on the first anniversary of the Commencement Date, for each year or part of a year occurring within the Term, Tenant shall pay to Landlord in the manner described in paragraph 7.4, as Additional Rent, Tenant's Proportionate Share of the amount by which Landlord's Operating Expenses attributable to such period exceed Landlord's Operating Expenses attributable to the Base Operating Year (or corresponding portion thereof). For the purposes hereof "Base Operating Year" shall mean the calendar year 2007.
7.3.2 As used herein, the term "Landlord's Operating Expenses" shall mean those costs or expenses paid or incurred by Landlord for operating, maintaining, and repairing (inclusive of Structural Repairs) the Building, any of its systems, or the Real Property, including the cost of electricity, gas, water, fuel, window cleaning, janitorial service, insurance of all kinds carried in good faith by Landlord and applicable to the Building or the Real Property, snow removal, maintenance and cleaning of the parking lot, landscape maintenance (including replanting and replacing flowers and other plantings), painting or repainting or redecorating of the public areas, maintenance of equipment and replacement of worn out mechanical or damaged equipment, uniforms, management fees, typical and customary office expenses, building supplies, sundries, sales or use tax on supplies or services, wages, salaries and other compensation, including applicable payroll taxes and benefits, of all persons engaged by Landlord for the operation, maintenance and repair of the Building and the Real Property including independent contractors' fees, replacement cost of tools and equipment, legal and accounting expenses, and any other expenses or costs, which in accordance with generally accepted accounting principles and the standard management practices for office buildings comparable to the Building would be considered as an expense of operating, maintaining, or repairing the Building and the Real Property. Excluded from Landlord's Operating Expenses are:
(a) Repairs or other work occasioned by fire, windstorm or other casualty for which there is insurance coverage (to the extent of such coverage) or by the exercise of eminent domain or any expenditures for which Landlord is reimbursed from any source.
(b) With respect to present or prospective tenants or other occupants of the Building, all costs, including leasing commissions and attorneys’ fees incurred by Landlord in conn...
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 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. 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. The Tenant shall pay as Additional Rent increases in Landlord's Operating Expenses as set forth below:
(a) As used herein, the term "Landlord's Operating Expenses" shall mean those costs or expenses paid or incurred by Landlord for operating, maintaining and repairing the Real Property, including the cost of electricity for common areas including outside lighting, the cost of heating, ventilating and air conditioning the Building, water, fuel, window cleaning, janitorial service, insurance of all kinds
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. 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.
