OPERATING COSTS AND PROPERTY TAXES Clause Samples
The "Operating Costs and Property Taxes" clause defines the tenant's responsibility to pay a share of the ongoing expenses associated with running and maintaining the property, as well as their portion of property taxes. Typically, this clause outlines which specific costs are included—such as utilities, repairs, insurance, and municipal taxes—and how the tenant's share is calculated, often based on the proportion of space they occupy. Its core function is to ensure that the landlord is reimbursed for these variable expenses, thereby allocating the financial burden of property upkeep and taxation fairly between landlord and tenant.
OPERATING COSTS AND PROPERTY TAXES. In addition to Basic Rent, the Tenant shall be responsible for paying its proportionate share of operating expenses and property taxes, on a monthly basis, in advance on the first day of each month (the “Operating Costs and Property Taxes” to be defined in the Lease), which shall include all actual and reasonable costs incurred by the Landlord in operating, servicing, maintaining, insuring, repairing and managing the Leased Premises. The Operating Costs and Property Taxes are estimated at Seven Dollars and Thirty-Five Cents ($7.35) per square foot of Rentable Area for the fiscal year of the Building ending September 30, 2010. The Landlord shall arrange and be financially responsible for all installation costs for separate metering of all utilities supplied to the Tenant, pursuant to the Lease. This may be by way of a sub-meter and include third-party monitoring which shall form part of the Tenant’s Operating Costs.
OPERATING COSTS AND PROPERTY TAXES. The Sub-Sub-Tenant's Proportionate Share of Operating Costs and Property Taxes, currently estimated at $10.08 per square foot for the 2000 fiscal year, plus Goods and Services Tax, shall be payable as additional rent as per the terms of the Lease during the Term in addition to the Basic Rent.
OPERATING COSTS AND PROPERTY TAXES. In addition to Basic Rent, the Subtenant shall pay the Sublandlord additional rent (“Additional Rent” and, together with Basic Rent, “Rent”) on a monthly basis in advance on the first day of each month. The Additional Rent will be equal to the additional rent payable by the Sublandlord, as tenant, under the Lease pursuant to Article 12 of the Lease plus any other amount charged to the Sublandlord, as tenant, in accordance with the terms of the Lease, in respect of the Subtenants use of the Subleased Premises. The Sublandlord represents its additional rent payments for fiscal 2009, including in-suite janitorial services and utility consumption of a standard user, were approximately $13.32 per square foot. The Subtenant acknowledges it will be responsible for all utility costs charged to the Sublandlord in accordance with the terms of the Lease during the Term, in respect of the Subtenants use of the Subleased Premises and, if the Subtenant is a larger consumer of utilities than the Sublandlord was in fiscal 2009, the Subtenant’s monthly Additional Rent payments will exceed $13.32 per square foot. In the event the Subtenant feels that specific charges forming part of Additional Rent are unreasonable, the Subtenant may raise the issue with the Sublandlord and the Sublandlord will, in good faith, raise the issue with the Landlord for review.
OPERATING COSTS AND PROPERTY TAXES. As Additional Rent, commencing on the Commencement Date, Tenant shall pay to Landlord the following amounts incurred or paid by Prime Landlord or Landlord for the benefit of Tenant during any Lease Year (collectively, “Tenant’s Operating Cost Obligation”): (a) Property Taxes and Operating Costs that are allocable to the Casino and the Casino Back-of-the-House Areas; but not the Hotel or the Remaining Property and (b) Property Taxes and Operating Costs for the Remaining Property that are appropriately allocable to the Casino and the Casino Back-of-the-House Areas. Property Taxes and Operating Costs that are allocable to the Casino and the Casino Back-of-the-House Areas, but not the Hotel or the Remaining Property, and Property Taxes and Operating Costs with respect to the Remaining Property that are appropriately allocable to the Casino and the Casino Back-of-the-House Areas shall be determined by the Operating Cost Consultants. The Operating Cost Consultants shall also determine the absolute amounts of and the applicable percentages of the Property Taxes and Operating Costs appropriately allocated to the Casino and the Casino Back-of-the-House Areas, and not the Hotel or the Remaining Property, and appropriately allocated to the Casino and the Casino Back-of-the-House Areas on account of the Remaining Property.
OPERATING COSTS AND PROPERTY TAXES. Additional Rent (including, without limitation that Tenant’s proportionate share of, Operating Costs and Property Taxes) payable by the Tenant will be estimated on an annual basis by the Landlord for such annual period as is designated by the Landlord from time to time. The Tenant will pay the Landlord the estimated amount in monthly instalments in advance on the first day of each calendar month during the designated period. Within sixty (60) days following the designated period, the Landlord will furnish to the Tenant a statement setting out the Operating Costs and Property Taxes for such period. If the amount payable by the Tenant as shown on any such statement is greater or less than the aggregate of amounts paid by the Tenant under this Section 3.2, the proper adjusting credit or payment will be made between the parties within 14 days after delivery of the statement. Any credit made by the Landlord or payment made by the Tenant and accepted by the Landlord in respect of any adjustment made hereunder, will be without prejudice to the Landlord’s or Tenant’s right to claim a readjustment provided such claim is made within 12 months from the date of delivery of the statement referred to in this Section 3.2. Landlord shall keep accurate and current records in respect of such Additional Rent, which records may be reviewed by the Tenant or the Tenant’s agent upon request.
OPERATING COSTS AND PROPERTY TAXES. 6.1 The Tenant is responsible for all operating costs in relation to its use of the Premises including but not limited to utilities.
6.2 If the Premises are not exempt, the Tenant is responsible for payment of any municipal, regional district, school or other property taxes, that are levied against either the Landlord or the Tenant as a result of the Tenant’s use or occupation of the Premises.