OPERATING COSTS; ESCALATION. Tenant's proportionate share of the Annual Estimated Operating Costs shall be determined by multiplying Annual Estimated Operating Costs by a fraction, the numerator of which is the Rentable Floor Area of Tenant's Space, and the denominator of which is the Total Rentable Floor Area of the Building. With respect to the first year for Xxxxxx's paying operating cost, or fraction thereof, and any fiscal year or fraction thereof thereafter, Tenant shall pay to Landlord, as additional rent, Operating Cost Escalation (as defined below), if any, on or before the thirtieth (30th) day following receipt by Tenant of Landlord's Statement (as defined below). As soon as practicable after the end of each fiscal year ending during the Term and after Lease termination, Landlord shall render a statement ("Landlord's Statement") in reasonable detail and according to usual accounting practices certified by Landlord and showing for the preceding Fiscal Year or fraction thereof, as the case may be, Xxxxxxxx's Operating Costs, excluding the interest and amortization on mortgages for the Building and Lot or leasehold interests therein and the cost of special services rendered to tenants (including Tenant) for which a special charge is made, but including, without limitation: real estate taxes on the Building and Lot; installments and interest on assessments for public betterments or public improvements; expenses of any proceedings for abatement of taxes and assessments with respect to any fiscal year or fraction of a fiscal year; premiums for insurance; reasonable fees payable to third parties for financial audits of Landlord's Operating Costs; compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid by Landlord to, for or with respect to all persons engaged in the operating, maintaining, or cleaning of the Building and Lot; all utility charges not billed directly to tenants by Landlord or the utility; payments to independent contractors under service contracts for cleaning, operating, managing, maintaining and repairing the Building and Lot (which payments may be to affiliates of Landlord provided the same are at reasonable rates consistent with the type of occupancy and the services rendered); rent paid by the managing agent or imputed cost equal to the loss of rent by Landlord for making available to the managing agent space for a Building office on the ground floor or above; if the Building shares common areas or facilities with another building or buildings, the Buildings' pro rata share (as reasonably determined by Landlord) of the cost of cleaning, operating, managing (including the cost of the management office for such buildings and facilities), maintaining and repairing such common areas and facilities; and all other reasonable and necessary expenses paid in connection with the cleaning, operating, managing, maintaining and repairing of the Building and Lot, or either, and properly chargeable against income, it being agreed that if Landlord installs a new or replacement capital item, the cost thereof as reasonably amortized by Landlord, with interest at the average prime commercial rate in effect from time to time at the three largest national banks in Boston, Massachusetts on the unamortized amount, shall be included in Landlord's Operating Costs. Landlord's Statement shall also show the average number of square feet of the Building which were occupied for the preceding fiscal year or fraction thereof.
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Samples: Docent Inc, Docent Inc
OPERATING COSTS; ESCALATION. Tenant's proportionate share of the Annual Estimated Operating Costs shall be determined by multiplying Annual Estimated Operating Costs by a fraction, the numerator of which is the Rentable Floor Area of Tenant's Space, and the denominator of which is the Total Rentable Floor Area of the Building. With respect to the first year for Xxxxxx's paying operating cost, or fraction thereof, and any fiscal year or fraction thereof thereafter, Tenant shall pay to Landlord, as additional rent, Operating Cost Escalation (as defined below), if any, on or before the thirtieth (30th) day following receipt by Tenant of Landlord's Statement (as defined below). As soon as practicable Within 120 days after the end of each fiscal Landxxxx'x xiscal year ending during the Term and after Lease termination, Landlord shall render a statement ("Landlord's Statement") in reasonable detail and according to usual generally accepted accounting practices certified by Landlord and showing for the preceding Fiscal Year fiscal year or fraction thereof, as the case may be, XxxxxxxxLandxxxx'x Xperating Costs. As used in this Lease, "Landlord's Operating Costs" shall mean all of Landlord's costs and expenses paid in operating, managing, repairing, replacing and maintaining the Office Component or the Charxxx Xxxare Site generally. excluding (notwithstanding any provision of this Lease to the contrary) the interest and amortization on of principal and other charges relating to mortgages for the Building and Lot the Charxxx Xxxare Site or leasehold interests therein and therein; the cost of special services rendered to tenants (including Tenant) for which a special charge is made; leasehold improvements which are made in connection with the preparation of any portion of the Charxxx Xxxare Site for occupancy by a new tenant or which are not provided generally for the benefit of tenants of the Charxxx Xxxare Site; costs, expenses or charges properly chargeable to a particular tenant; efforts to lease portions of the Charxxx Xxxare Site or to procure tenants for the Charxxx Xxxare Site, including advertising and leasing commissions and attorneys' fees; depreciation of any component of the Charxxx Xxxare Site; repairs and replacements arising out of a fire or other casualty occurring at the Charxxx Xxxare Site; fees, fines or penalties arising out of Landlord's breach of any obligations (contractual or at law), including attorneys' fees; costs associated with vacant space; wages and benefits of any employee, contractor or agent, except to the extent included below; services which benefit only the Hotel Component or Retail Component, as defined in the Ground Lease, of the Charxxx Xxxare Site, without any direct benefit to the Office Component; fees for licenses, permits or inspections which are not part of routine maintenance, do not benefit Tenant or tenants of the Office Component generally or result from the negligence of Landlord or any other tenant; environmental compliance, testing or remediation; compliance by Landlord with laws existing as of the date of this Lease, including without limitation the Americans with Disabilities Act; sculpture, paintings and other works of art; capital improvements (as defined under generally accepted accounting principles), except to the extent included below; and repairs necessary to cure defects in the construction of the Charxxx Xxxare Site. but including, without limitation: real estate taxes on the Building and Lot; installments and interest on assessments for public betterments or public improvements; expenses of any proceedings for abatement of real estate taxes and assessments with respect to any fiscal year or fraction of a fiscal year; premiums for insurance; reasonable fees payable to third parties for financial audits of Landlord's Operating Costsinsurance covering the Office Component or the Charxxx Xxxare Site generally; compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid by Landlord to, for or with respect to Carpxxxxx & Xompany's Vice-President for Finance and Development and all persons at or below the level of building manager engaged in the operating, maintaining, maintaining or cleaning of the Building and Lotthe Charxxx Xxxare Site, but in all cases adjusted so that the percentage of such wages and benefits allocated to the Charxxx Xxxare Site equals the percentage of such person's working time for Landlord devoted to the Charxxx Xxxare Site; all utility charges not billed directly to tenants by Landlord or the utility; payments to independent contractors under service contracts for cleaning, operating, managing, maintaining and repairing the Building and Lot the Charxxx Xxxare Site; management fees (which payments may be to affiliates of Landlord Landlord) provided the same are at reasonable rates consistent with the type of occupancy and the services rendered)such fees do not exceed market rates; rent paid by the managing agent or imputed cost equal to the loss of rent by Landlord for making available to the managing agent space for a Building office on the ground floor or aboveabove (provided that the rent, or the imputed cost, is comparable to the rent charged for similar space in the Building); if the Building shares common areas or facilities with another building or buildings, the Buildings' pro rata share costs of new capital improvements (as reasonably determined by Landlordopposed to replacements of existing capital items) made to (a) reduce operating expenses, (b) comply with laws enacted after the date hereof or (c) maintain the Office Component as a first-class office building, provided such costs shall be amortized over the useful life of the cost of cleaning, operating, managing (including the cost of the management office for such buildings and facilities), maintaining and repairing such common areas and facilitiesimprovement in question utilizing a commercially reasonable discount rate; and all other reasonable and necessary expenses paid in connection with the cleaning, operating, managing, maintaining and repairing of the Building and Lotthe Charxxx Xxxare Site, or either. With respect to Landxxxx'x Xperating Costs relating to the Charxxx Xxxare Site (or any part thereof other than solely to the Office Component), Landlord shall allocate to the Office Component a portion of such costs and properly chargeable against income, it being agreed that if Landlord installs a new or replacement capital item, the cost thereof as reasonably amortized by Landlord, with interest at the average prime commercial rate in effect from time to time at the three largest national banks in Boston, Massachusetts on the unamortized amount, expenses which shall be included in Landlord's Operating Costsreasonable and which shall take into consideration the benefits received by the Office Component with respect to such expenses. Landlord's Statement shall also show Any operating costs which were incurred for the average number of square feet sole benefit or necessity of the Building which were occupied for Office Component shall be allocated solely to the preceding fiscal year or fraction thereofOffice Component.
Appears in 1 contract
Samples: Global Decisions Group LLC
OPERATING COSTS; ESCALATION. Tenant's If the Operating Costs (as hereinafter defined) incurred for the Building and Office Building Area for any calendar year or proportionate share part thereof during the Term of the Annual Estimated Sublease shall be greater than the Base Operating Costs shall be determined by multiplying Annual Estimated Operating Costs by incurred during the Base Period (as hereinafter defined), adjusted proportionately for periods less than a fractionlease year (as hereinafter defined), the numerator of which is the Rentable Floor Area of Tenant's Space, and the denominator of which is the Total Rentable Floor Area of the Building. With respect to the first year for Xxxxxx's paying operating cost, or fraction thereof, and any fiscal year or fraction thereof thereafter, Tenant then Subtenant shall pay to LandlordSublessor, as additional rent, Operating Cost Escalation its proportionate share (as defined belowhereinafter defined) of such excess Operating Costs. Operating Costs means each and every item of cost and expense of whatever variety or description paid or incurred for maintenance and variety or description paid or incurred for maintenance and operation of the Office Building Area and Building of which the Premises form a part (excluding Real Estate Taxes), if anyincluding by way of illustration and not of limitation, on or before the thirtieth (30th) day following receipt by Tenant of Landlord's Statement (as defined below). As soon as practicable after the end of each fiscal year ending during the Term fuel, utilities, electric, water, sewer, heating, ventilating and after Lease terminationair conditioning, Landlord shall render a statement ("Landlord's Statement") in reasonable detail service contracts, elevators, plumbing/sprinkler pumps and according to usual accounting practices certified by Landlord motors, roofing and showing for the preceding Fiscal Year or fraction thereofwaterproofing, as the case may bewidow and glass, Xxxxxxxx's Operating Costswater treatment, excluding the interest painting, rubbish removal, tools and amortization on mortgages for the Building equipment, metal maintenance, general building supplies, locks and Lot or leasehold interests therein keys, signage and the cost of special services rendered to tenants directory, security, masonry repairs, personal property taxes, management fees, direct labor, (including Tenant) for all wages and salaries), fringe benefits, unemployment taxes, social security taxes, worker's compensation, insurance and other similar taxes which a special charge is made, but including, without limitation: real estate taxes on may be levied upon the Building and Lot; installments and interest on assessments for public betterments or public improvements; expenses of any proceedings for abatement of taxes and assessments Lessor with respect to any fiscal year or fraction of a fiscal yearsuch wages and salaries; premiums for insurance; reasonable fees payable to third parties for financial audits of Landlord's Operating Costs; compensation and all fringe disability benefits, worker's compensation insurance premiums hospitalization, medical, surgical, union and payroll taxes paid by Landlord togeneral welfare benefits, for or with respect to all persons engaged in the operatingany pensions, maintainingretirement, or cleaning life insurance plan and other benefit or similar expense respecting employees of the Lessor; uniforms and working clothes for such employees; Lessor's expenses imposed pursuant to law or to any collective bargaining agreement), fire and other insurance, trash removal, data processing costs, interior and exterior landscaping and decoration, repairs, replacements and improvements which are necessary or appropriate for the continued operation of the Building and Lot; all utility charges Office Building Area as a first class office building or are made in compliance with requirements of any federal, state or local law or governmental regulation, whether or not billed directly to tenants by Landlord such law or regulation is valid or mandatory, management fees for the utility; payments to independent contractors under service contracts for cleaningmanagement of the Building, operating, managing, maintaining and repairing the Building and Lot (which payments may be to affiliates of Landlord provided the same are at reasonable rates consistent with the type of occupancy and the services rendered); rent paid or if no managing agent is employed by the managing agent or imputed cost equal to the loss of rent by Landlord for making available to the managing agent space for Lessor, a Building office on the ground floor or above; if the Building shares common areas or facilities with another building or buildings, the Buildings' pro rata share (as reasonably determined by Landlord) sum in lieu thereof which is not in excess of the cost then prevailing rates for management fees in Bergen County, New Jersey, attorneys' fees, appraisal and other experts fees incurred in pursuance of cleaningany real estate tax appeal, operating, managing (including the cost of the management office for such buildings and facilities), maintaining and repairing such common areas and facilities; accounting fees and all other reasonable and necessary expenses paid items properly constituting direct operating costs or that portion of a capital expenditure amortized during the Base Period and/or applicable lease year according generally accepted accounting principles, but not including depreciation of Building or equipment, interest, income or excess profits, taxes, costs of maintaining the Lessor's corporate or other existence, franchise taxes, or any expenditures required to be capitalized for federal income tax purposes in connection with the cleaning, operating, managing, maintaining and repairing excess of that portion of the Building and Lot, or either, and properly chargeable against income, it being agreed that if Landlord installs a new or replacement said capital item, expenditure amortized during the cost thereof as reasonably amortized by Landlord, with interest at the average prime commercial rate in effect from time to time at the three largest national banks in Boston, Massachusetts on the unamortized amount, shall be included in Landlord's Operating CostsBase Period and/or applicable lease year. Landlord's Statement shall also show the average number of square feet of the Building which were occupied for the preceding fiscal year or fraction thereof.As used in
Appears in 1 contract
Samples: Cybear Inc
OPERATING COSTS; ESCALATION. Tenant's If the Operating Costs (as hereinafter defined) incurred for the Building and the Office Building Area for any calendar year or proportionate part thereof during the Lease Term shall be greater than the Base Operating Costs incurred during the Base Period (as hereinafter defined), adjusted proportionately for periods less than a lease year (as hereinafter defined), then Leasee shall pay to Lessor, as additional rent, its proportionate share (as hereinafter defined) of such excess operating costs. Operating costs means each and every item of cost and expense of whatever variety or description paid or incurred for maintenance and operation of the Annual Estimated Office Building Area and Building of which the Demised Premises form a part (excluding Real Estate Taxes), including by way of illustration and not of limitation, fuel, utilities, electric, water, sewer, heating, ventilating and air conditioning, service contracts, elevators, plumbing/sprinkler, pumps and motors, roofing and waterproofing, window and glass, water treatment, painting, rubbish removal, tools and equipment, metal maintenance, general building supplies, locks and keys, signage and directory, security, masonry repairs, personal property taxes, management fees, direct labor (including all wages and salaries; fringe benefits; unemployment taxes, social security taxes, worker's compensation, insurance and other similar taxes which may be levied upon the Lessor with respect to such wages and salaries; disability benefits, hospitalization, medical, surgical, union and general welfare benefits, any pension, retirement, or life insurance plan and other benefit or similar expense respecting employees of the Lessor; uniforms and working clothes for such employees; Lessor's expenses imposed pursuant to law or to any collective bargaining agreement), fire and other insurance, trash removal, data processing costs, interior and exterior landscaping and decoration, repairs, replacements and improvements which are necessary or appropriate for the continued operation of the Building and Office Building Area as a first class office building or are made in compliance with requirements of any federal, state or local law or governmental regulation, whether or not such law or regulation is valid or mandatory, management fees for the management of the Building, or if no managing agent is employed by the Landlord, a sum in lieu thereof which is not in excess of the then prevailing rates for management fees in Bergen County, New Jersey, attorneys fees, appraisal and other experts fees incurred in pursuance of any real estate tax appeal, accounting fees, and all other items properly constituting direct operating costs or that portion of a capital expenditure amortized during the Base Period and/or applicable lease year according to generally accepted accounting principles, but not including depreciation of Building or equipment, interest, income or excess profits taxes, costs of maintaining the Lessor's corporate or other existence, franchise taxes, or any expenditures required to be capitalized for federal income tax purposes in excess of that portion of said capital expenditure amortized during the Base Period and/or applicable lease year. As used in this Subparagraph 22(a), the Base Operating Costs shall be the operating costs incurred during the Base Period with respect to the establishment of the Base Operating Costs (as said Base Period is hereinafter defined in subparagraph 22(e)). If such Base Period is less than three hundred sixty-five (365) days, then the Base Operating Costs shall be determined by multiplying Annual Estimated annualizing the Operating Costs by a fraction, the numerator of which is the Rentable Floor Area of Tenant's Space, and the denominator of which is the Total Rentable Floor Area of the Building. With respect to the first year for Xxxxxx's paying operating cost, or fraction thereof, and any fiscal year or fraction thereof thereafter, Tenant shall pay to Landlord, as additional rent, Operating Cost Escalation (as defined below), if any, on or before the thirtieth (30th) day following receipt by Tenant of Landlord's Statement (as defined below). As soon as practicable after the end of each fiscal year ending incurred during the Term and after Lease termination, Landlord shall render a statement ("Landlord's Statement") in reasonable detail and according to usual accounting practices certified by Landlord and showing for the preceding Fiscal Year or fraction thereof, as the case may be, Xxxxxxxx's Operating Costs, excluding the interest and amortization on mortgages for the Building and Lot or leasehold interests therein and the cost of special services rendered to tenants (including Tenant) for which a special charge is made, but including, without limitation: real estate taxes on the Building and Lot; installments and interest on assessments for public betterments or public improvements; expenses of any proceedings for abatement of taxes and assessments with respect to any fiscal year or fraction of a fiscal year; premiums for insurance; reasonable fees payable to third parties for financial audits of Landlord's Operating Costs; compensation and all fringe benefits, worker's compensation insurance premiums and payroll taxes paid by Landlord to, for or with respect to all persons engaged in the operating, maintaining, or cleaning of the Building and Lot; all utility charges not billed directly to tenants by Landlord or the utility; payments to independent contractors under service contracts for cleaning, operating, managing, maintaining and repairing the Building and Lot (which payments may be to affiliates of Landlord provided the same are at reasonable rates consistent with the type of occupancy and the services rendered); rent paid by the managing agent or imputed cost equal to the loss of rent by Landlord for making available to the managing agent space for a Building office on the ground floor or above; if the Building shares common areas or facilities with another building or buildings, the Buildings' pro rata share (as reasonably determined by Landlord) of the cost of cleaning, operating, managing (including the cost of the management office for such buildings and facilities), maintaining and repairing such common areas and facilities; and all other reasonable and necessary expenses paid in connection with the cleaning, operating, managing, maintaining and repairing of the Building and Lot, or either, and properly chargeable against income, it being agreed that if Landlord installs a new or replacement capital item, the cost thereof as reasonably amortized by Landlord, with interest at the average prime commercial rate in effect from time to time at the three largest national banks in Boston, Massachusetts on the unamortized amount, shall be included in Landlord's Operating Costs. Landlord's Statement shall also show the average number of square feet of the Building which were occupied for the preceding fiscal year or fraction thereofBase Period.
Appears in 1 contract
