OPERATING COSTS ADJUSTMENT Sample Clauses

OPERATING COSTS ADJUSTMENT. (JUN 2012)
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OPERATING COSTS ADJUSTMENT. The Base Rent payable pursuant to Section 1 of the Sixth Amendment to Lease is predicated, in part, upon an operating cost "stop" for the Building of $5.79 per rentable square foot. Tenant shall pay to Landlord as additional rent for the Existing Space the amount derived by multiplying 51,872 (being the rentable area of the Existing Space)by the amount by which the total annual operating costs of the Building exceed $5.79 per rentable square foot.
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OPERATING COSTS ADJUSTMENT. (JUN 2012) A. Beginning with the second year of the Lease and each year thereafter, the Government shall pay annual incremental adjusted rent for changes in costs for cleaning services, supplies, materials, maintenance, trash removal, landscaping, water, sewer charges, heating, electricity, and certain administrative expenses attributable to occupancy. B. The amount of adjustment will be determined by multiplying the base rate by the annual percent of change in the Cost of Living Index. The percent change will be computed by comparing the index figure published for the month prior to the Lease Term Commencement Date with the index figure published for the month prior which begins each successive 12-month period. For example, a Lease which commences in June of 2005 would use the index published for May of 2005, and that figure would be compared with the index published for May of 2006, May of 2007, and so on, to determine the percent change. The Cost of Living Index will be measured by the Department of Labor revised Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), U.S. city average, all items, (1982 to 1984 = 100) published by the Bureau of Labor Statistics. Payment will be made with the monthly installment of fixed rent. Rental adjustments will be effective on the anniversary date of the Lease; however, payment of the adjusted rental rate will become due on the first workday of the second month following the publication of the Cost of Living Index for the month prior to the commencement of each 12-month period. C. In the event of any decreases in the Cost of Living Index occurring during the term of the occupancy under the Lease, the rental amount will be reduced accordingly. The amount of such reductions will be determined in the same manner as increases in rent provided under this paragraph. LEASE NO. VA-101-17-L-XXXX, PAGE 10 LESSOR: ______ GOVERNMENT: ________ GSA FORM L100 (10/16)
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OPERATING COSTS ADJUSTMENT. Tenant’s Proportionate Share of the amount by which the Operating Costs incurred during any calendar year during the Term exceed the Operating Costs incurred during the Base Year (Section 3.2)
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OPERATING COSTS ADJUSTMENT. Subject to the modification provisions set forth in Sections 3.2(f) and 3.2(g) of the Lease, Tenant's Proportionate Share (Operating Costs) of the amount by which the Operating Costs incurred during any calendar year during the Term exceed the Operating Costs incurred during the Base Year (Section 3.2)
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OPERATING COSTS ADJUSTMENT. Sears Lease As of the date of this Lease, Sears Roebuck & Co. ("Sears") leases approximately 248,376 rentable squaxx xxxx of space (the "Retail Space") in the Building. During the Term, except as provided herein, total Operating Costs will be reduced by the annual amount set forth on Exhibit H attached to this Lease (the "Retail Contribution"). The Retail Contribution covers a portion of the Operating Costs (the "Sears Operating Costs") for water, management fees, administrative fees and insurance, being the services (the "Sears Services") which Landlord is, as of the date of this Lease, obligated to furnish to Sears under the Sears Lease. Any other services or requirements needed by Sears to operate the Retail Space are paid by Sears. Landlord further agrees that if in the future Landlord provides additional services (other than the Sears Services) to Sears or any other retail occupant of the Retail Space, then the cost of such additional services will not be included in Operating Costs. In addition, if following the expiration of the Sears Lease, the Retail Space is used for office purposes rather than retail purposes, the parties will make an equitable adjustment (on a proportionate basis) to (i) the Retail Contribution, (ii) Tenant's Proportionate Share - Operating Costs, (iii) the Base Year Operating Costs, and (iv) any other item(s) requiring an adjustment as a result of such conversion; provided, however, that in no event will any such adjustment result in Tenant paying any more or less, on a per square foot basis, than what Tenant would have paid had the Sears Lease not expired.
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OPERATING COSTS ADJUSTMENT. Section 4.6............................17
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OPERATING COSTS ADJUSTMENT 
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Related to OPERATING COSTS ADJUSTMENT

  • 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”).

  • 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.

  • Direct Expenses 1. Fees and expenses of its directors (except the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

  • Tax Expenses Tenant shall pay to Landlord Tenant’s Share of all Tax Expenses applicable to the Project. Prior to delinquency, Tenant shall pay any and all taxes and assessments levied upon Tenant’s Property (defined below in Section 10) located or installed in or about the Premises by, or on behalf of Tenant. To the extent any such taxes or assessments are not separately assessed or billed to Tenant, then Tenant shall pay the amount thereof as invoiced by Landlord. Tenant shall also reimburse and pay Landlord, as Additional Rent, within ten (10) days after demand therefor, one hundred percent (100%) of (i) any increase in real property taxes attributable to any and all Alterations (defined below in Section 10), Tenant Improvements, fixtures, equipment or other improvements of any kind whatsoever placed in, on or about the Premises for the benefit of, at the request of, or by Tenant, and (ii) taxes and assessments levied or assessed upon or with respect to the possession, operation, use or occupancy by Tenant of the Premises or any other portion of the Project. “Tax Expenses” means, without limitation, any form of tax and assessment (general, special, supplemental, ordinary or extraordinary), commercial rental tax, payments under any improvement bond or bonds, license fees, license tax, business license fee, rental tax, transaction tax or levy imposed by any authority having the direct or indirect power of tax (including any governmental, school, agricultural, lighting or other improvement district) as against any legal or equitable interest of Landlord in the Premises, Project or Park or any other tax, fee, or excise, however described, including, but not limited to, any tax resulting from the recordation of any parcel or subdivision map with respect to the Park and/or any tax imposed in substitution (partially or totally) of any tax previously included within the definition of Tax Expenses. “Tax Expenses” shall not include (a) any franchise, estate, inheritance, net income, or excess profits tax imposed upon Landlord, (b) any penalty or fee imposed solely as a result of Landlord’s failure to pay Tax Expenses when due, and (c) any items included as Operating Expenses. In the event that a parcel or subdivision map with respect to the Park or a portion of the Park is recorded by Landlord, Tenant’s Share of Tax Expenses shall be commensurately revised to reflect any increases or decreases that may result from the impact of such parcel or subdivision map.

  • Exclusions from Operating Expenses Notwithstanding anything to the contrary herein, Operating Expenses shall not include the following: (i) roof replacement; (II) correction of the Building foundation; (iii) correction of deficiencies in structural elements of the Building; (iv) the cost of any work or service performed for any other tenant or occupant of the Park; (v) any cost to the extent Landlord Is reimbursed therefor out of insurance proceeds or would have been reimbursed if Landlord had carried the Insurance required of Landlord under this Lease; (vi) costs of repairs, alterations or replacements caused by the exercise of rights of eminent domain; (vii) any expense for which Landlord is compensated by proceeds of indemnities or warranties (it being understood that Landlord shall use commercially reasonable efforts to obtain any reimbursements to which It is entitled thereunder); (viii) general overhead and administrative expenses of Landlord relating to maintaining Landlord’s existence and functioning either as a corporation, partnership or other entity; (Ix) costs, penalties or fines incurred due to the violation by the Landlord of any Applicable Laws; (x) any costs incurred to clean up, contain, xxxxx, remove, remediate or otherwise remedy Hazardous Substances in or around the Premises or the Park which exist in violation of Applicable Laws prior to the Effective Date of this Lease; (xi) any capitalized costs incurred by Landlord In order to bring the Park, Building and Premises into compliance with the requirements of any Applicable Laws, provided that such non-compliance exists as of the Effective Date of this Lease, to the extent such non-compliance is not triggered by Tenant’s Permitted Use, the Tenant Improvements or any future alterations, additions or improvements made by Tenant to the Premises; (xii) any amount paid by Landlord or to the parent organization or a subsidiary or affiliate of the Landlord for supplies and/or services to the Premises to the extent the same exceeds the amount which would generally be expected to be incurred had such supplies and/or services been furnished or rendered by comparably qualified, first-class unafffliated third parties; (xiii) the wages and benefits and other compensation of any employee who does not devote substantially all of his or her employed time to the Premises unless such wages and benefits are prorated to reflect time spent on operating and managing the Premises; provided that in no event shall Operating Expenses for purposes of this Lease Include wages and/or benefits attributable to Premises management personnel or officers above the level of the portfolio manager or equivalent; (xiv) costs incurred by Landlord due to the violation by Landlord, its employees, agents or contractors or any other tenant of any Applicable Laws; and/or (xv) any costs, fines, penalties or Interest to the extent resulting from the gross negligence or wlllful misconduct of Landlord or Its agents, contractors or employees.

  • Closing Costs The costs attributed to the Closing of the Property shall be the responsibility of ☐ Buyer ☐ Seller ☐ Both Parties. The fees and costs related to the Closing shall include but not be limited to a title search (including the abstract and any owner’s title policy), preparation of the deed, transfer taxes, recording fees, and any other costs by the title company that is in standard procedure with conducting the sale of a property.

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