Operating Cost. Indicate whether or not the base rent includes any portion of the building’s operating costs. If not, state the monthly amount the tenant must pay for a proportionate share of the operating expenses. Specify the maximum percentage of the total operational costs for the tenant’s share and the percentage of the expenses reserved for significant repairs and renovations. If the tenant underpays their share of the operating expenses, specify the days the tenant must pay the amount due. Step 6 – Choose the Tax Option 13.
Operating Cost. That portion of the Building that is designated as office space for purposes of this Lease is located on the second, third, fourth and fifth floors of the Building and includes approximately 98,216 square feet of Rentable Area (“Office Area”). Areas of the 1st floor shall not be deemed Office Area regardless of their use. In addition to the Basic Rent on the 5th Floor Space, Tenant shall pay each calendar year as part of the Rental Tenant’s Proportionate Share of the amount by which the Office Area Operating Cost, grossed up as if the Office Area of the Building were 100% occupied, for the Building in any calendar year exceeds the “Basic Operating Cost” of Five Hundred Eighty-Seven Thousand Three Hundred Thirty-One and 68/100 Dollars ($587,331.68); any such excess may be referred to herein as “Excess Operating Cost.” Landlord represents and warrants to Tenant that the Basic Operating Cost was grossed up as if the Office Area of the Building was 100% occupied. Except to the extent herein otherwise provided, the term “Operating Cost” as used herein shall mean all expenses and costs (but not Excluded Operating Expenses or specific costs which are separately billed to and paid or reimbursed by specific tenants) of every kind and nature which Landlord shall actually pay or incur because of or in connection with the ownership and operation of the Office Area of the Building during a calendar year, as determined by Landlord in accordance with generally accepted accounting principles, consistently applied, and with sound management practices generally accepted with respect to the operation and maintenance of first class office buildings in Xxxxxx County, Indiana (“Comparable Office Buildings”), including, but not limited to, the following:
(a) Wages, salaries, fringe benefit costs, payroll taxes, unemployment compensation payments, workmen’s compensation insurance premiums and other related expenses of all employees directly engaged in the operation, cleaning, maintenance and security of the Building; costs of Building employee uniforms and cleaning thereof; the cost of fair rental value of a Building management office; and the management fees payable by Landlord (excluding brokerage commissions for leasing) if management of the Building is contracted to a third party;
(b) All supplies and materials used in the operation, cleaning, maintenance and security of the Office Area of the Building and all of its machinery and equipment;
(c) Cost of utilities, including w...
Operating Cost. (a) Operating Cost shall mean all expenses and costs of every kind and nature which Landlord shall pay or become obligated to pay because of or in connection with the management, maintenance, preservation or operation of the Building (determined in accordance with generally accepted accounting principles, consistently applied) including, but not limited to the following:
(1) Expenses of the operation, maintenance and security of the Building, including compensation in the form of wages, salaries, and other compensation and benefits (including payroll taxes, federal, state and local unemployment taxes and social security taxes, insurance, welfare and retirement benefits, and related expenses and benefits of all on-site and off-site employees [to the extent involved in the management, maintenance and operation of the Building], reasonably pro-rated to reflect services provided for the Building and other building(s));
(2) Cost for Landlord’s office and management office operation for the Building, including the actual cost (or, in the absence of a specific rent charge, the fair market rent) of any space occupied by entities providing management or building services for the Building, reasonably prorated between the Building and the building at 000 Xxxxxxxx Xxxxxx;
(3) All tools, supplies, materials and equipment used in the operation and maintenance of the Building (reasonably pro-rated to reflect services provided for the Building and other building(s)), including rental fees for the same, if such items are not purchased and amortized pursuant to (10) below;
(4) Utilities, including electricity, water, sewer, gas, communication, heating, lighting, air conditioning and ventilating, for the entire Building;
(5) All maintenance, janitorial and service agreements and costs for the Building, including, without limitation, alarm service, landscaping, window cleaning, escalator and elevator maintenance, rubbish and snow removal, pest control, equipment maintenance or servicing or maintenance or cleaning for sidewalks, Building exterior, roof and service areas;
(6) A management fee in connection with the operation of the Building; provided, however, that the share of such cost included in Tenant’s Operating Cost under this Lease shall be separately calculated and equal three percent (3%) of all Rent under this Lease, excluding such fee, and that such share shall be in lieu of Tenant’s Proportionate Share of the management fee for the entire Building;
(7) Legal and ac...
Operating Cost. The following portion of Operating Costs shall be allocated to the
Operating Cost. (i) Prior to the Commencement Date and prior to each calendar year thereafter Landlord shall compute and deliver to Tenant a good faith estimate of the Operating Cost for such calendar year and the monthly payments as would fully recover the estimated Operating Cost in such calendar year. If at any time in such calendar year there is a material change in Landlord's estimate of the Operating Cost, Landlord may compute and deliver to Tenant an updated statement. The estimated Operating Cost shall be paid by Tenant to Landlord in advance and without further notice on or before the Commencement Date and on or before the first day of each calendar month thereafter during the Term in monthly installments, each based on Landlord's most current statement. If the Commencement Date falls on other than the first day of a month, the payment of the estimated Operating Cost for the first month of the Initial Term shall be pro-rated.
(ii) Within a reasonable period after the end of each calendar year, Landlord shall give written notice to Tenant of the actual Operating Cost for that calendar year. If the actual Operating Cost for any calendar year during the Term exceeds the estimated Operating Cost paid by Tenant for the calendar year, Tenant shall pay to Landlord a sum equal to the difference between the actual Operating Cost for the year and the estimated Operating Cost paid by Tenant for the year. If the estimated Operating Cost paid by Tenant for any calendar year during the Term exceeds the actual Operating Cost for the calendar year, Landlord shall pay to Tenant a sum equal to the difference between the estimated Operating Cost paid by Tenant for the year and the actual Operating Cost for the year. Tenant shall pay to Landlord any amount due under this Section within 30 days after delivery of the annual notice, but failure to so notify Tenant within a reasonable period after any calendar year for which any amount is due shall not release Tenant from paying nor diminish Tenant's obligation to pay such amount. At Tenant's option, Landlord shall pay Tenant any amount due under this Article within 30 days after delivery of the annual notice or credit such amount against the next payments coming due under this Lease. If this Lease does not begin or end at the first day of a calendar year, the amount payable for any such Operating Cost adjustment will be adjusted accordingly.
(iii) Tenant may at Tenant's cost examine Landlord's books relating to the Operating Cost if re...
Operating Cost. All costs described in Exhibit G, OPERATING COSTS, attached 5 hereto.
Operating Cost. During the Term of the Lease, the Tenant shall pay to the Landlord in the manner set forth in this section the Tenant's Share of the Operating Cost (and where applicable, the Tenant's Particular Share, allocated pursuant to section 8.08 to that portion of the Building in which the Leased Premises are located). Prior to the commencement of the Term of this Lease and the commencement of each fiscal period selected by the Landlord thereafter which commences during the Term, the Landlord shall estimate the amount of Operating Cost for the ensuing fiscal period or (if applicable) broken portion thereof, as the case may be, and notify the Tenant in writing of such estimate. The Operating Cost in any fiscal period shall be an amount equal to the aggregate of all Operating Costs for that fiscal period. The Landlord may from time to time alter the fiscal period selected, in which case, and in the case where only a broken portion of a fiscal period is included within the Term, the appropriate adjustment in monthly payments shall be made. From time to time during a fiscal period the Landlord may re-estimate the amount of Operating Cost in which event the Landlord shall notify the tenant in writing of such re-estimate and fix monthly instalments for the then remaining balance of such fiscal period or broken portion thereof such that, after giving credit for instalments paid by the Tenant on the basis of the previous estimate or estimates, the
Operating Cost. Operating cost means expenses incurred by an institution in serving meals to participants under the Program, and allowed by the state agency guidance and financial management instructions.
Operating Cost. The cost of the operating portion of the expense of operating work as specified in the Eldorado System Operating Agreement.
