Net Lease Taxes and Utility Expenses Sample Clauses

Net Lease Taxes and Utility Expenses. (a) This Lease shall be deemed and construed to be a “net lease” and Tenant shall pay to Landlord, absolutely net throughout the term of this Lease, the rent, and other sums payable hereunder, and under no circumstances or conditions, whether now existing or hereafter arising, or whether beyond the present contemplation of the parties, shall Landlord be expected or required to make any payment of any kind whatsoever hereunder or be under any other obligations or liability hereunder except as herein otherwise expressly set forth. (i) Tenant shall, during the term of this Lease pay and discharge punctually, as and when the same shall become due and payable, all taxes, special and general assessments, and other governmental impositions and charges of every kind and nature whatsoever pertaining to the Demised Premises, (hereinafter referred to as “Taxes”). Taxes for the first and last years of the Lease shall be prorated. Landlord’s reasonable estimate of taxes for the last year of the term of the Lease shall be due on the last day of the term, subject to adjustment upon receipt of the actual xxxx. Tenant shall also be responsible for all taxes with respect to its property located on the Demised Premises. (ii) Tenant shall pay the charges which may, during the demised term, be assessed or imposed or payable for the water used or consumed on the Demised Premises, whether determined by meter or otherwise, as soon as and when the charges therefor have been assessed and imposed. (iii) If any holder of mortgage on the Demised Premises requires monthly escrow of Taxes, Tenant shall make such payments on behalf of Landlord to such mortgage holder upon notice of its address and shall receive a credit for amounts paid to such mortgage holder against amount due under Section. All other utility service requirements on the Demised Premises, including sewer, gas, electricity and telephone, (hereinafter referred to as “Utility Expenses”), shall be the sole responsibility of Tenant. (c) Any refunds or rebates on account of the Utility Expenses or Taxes paid by Tenant under the provisions of this Lease, shall belong to Tenant. Landlord will, upon the request of Tenant, sign any receipts which may be necessary to secure the payment of any such refund or rebate, and will pay over to Tenant such refund or rebate as received by Landlord. (d) Nothing herein or in this Lease otherwise contained shall require or be construed to require Tenant to pay any inheritance, estate, successi...
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Net Lease Taxes and Utility Expenses 
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Related to Net Lease Taxes and Utility Expenses

  • Operating Expenses Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant hereby agrees to pay one hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term Operating expenses shall include all costs to Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

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