Operating Expense. TENANT shall pay to LANDLORD, as "
Operating Expense. (i) Tenant shall pay to Landlord as part of Additional Rent for each Operating Year during the Lease Term an amount equal to Tenant's Proportionate Share of Landlord's Operating Expense for such Operating Year ("Tenant's Operating Expense"). Tenant shall pay to Landlord as Additional Rent, Tenant's Operating Expense for each current Operating Year in equal monthly installments in the amount of one-twelfth (1/12) of Landlord's estimate of Tenant's Operating Expense for the current Operating Year based on (a) the Budget for the current Operating Year., or if such Budget shall not have been approved, on the actual Operating Expense for the Building for the Operating Year immediately preceding.
(ii) Tenant's Operating Expense shall be paid (or credited) in the following manner:
(a) Beginning with the Commencement Date and continuing thereafter on the first day of each month until receipt of the Operating Expense Statement with respect to the Operating Year in which this Lease commences, Tenant shall pay Landlord in equal monthly installments in advance, concurrently with payments of Basic Rent, an amount equal to one-twelfth (1/12) of the Operating Expense Estimate as specified in Landlord's written notice of its Operating Expense Estimate. If the Commencement Date of this Lease is not the first day of a month, the Operating Expense Estimate payment corresponding to the month in which the Lease Term begins shall be prorated and paid for that portion of the month between the Commencement Date and the end of such month.
(b) Within 180 calendar days following the end of each Operating Year, Landlord shall furnish Tenant an Operating Expense Statement, setting forth the information described hereof under the definition of Operating Expense Statement. Within fifteen (15) calendar days following the receipt of such Operating Expense Statement (the "Expense Adjustment Date") Tenant shall pay to Landlord as Additional Rent: (1) the amount by which Tenant's Operating Expense for the Operating Year covered by the Operating Expense Statement exceeds the aggregate of the Operating Expense Estimate paid with respect to such Operating Year; and (2) the amount by which the Operating Expense Estimate as shown on the Operating Expense Statement for the current Operating Year, multiplied by the number of months elapsed in the current Operating Year including the month in which payment is made, exceeds the amount of payments of the Operating Expense Estimate in the Operating Yea...
Operating Expense. Utilities, janitorial, building management, building maintenance and property taxes are included in the Rent above. The Rent is inclusive of all operating expenses and there will be no operating expense pass throughs over the Term of the Sublease. Normal operating hours and HVAC hours for the Premises are from 7:00 am to 6:00 pm, Monday through Friday, and from 8:00 am to 1:00 pm on Saturdays. If Sublessee requires after hours HVAC, there will not be a charge for after hour HVAC through the entire Term.
Operating Expense. Parent and its Subsidiaries shall not permit the Operating Expenses, calculated on a trailing four-quarter basis as of the last day of the most recent fiscal quarter of Parent for which financial statements were required to have been furnished to Lender pursuant to Section 7.02(b), to exceed the amounts set forth in the Closing Date Budget by more than [***] (the “Operating Expense Cap”); provided, that the Operating Expense Cap for any calculation period may be increased (without duplication of any increase to the NAC Cap pursuant to clause (b) above) by an amount (calculated on a percentage basis) equal to the percentage amount by which Gross Revenue exceeds the projected gross revenue of Parent and its Subsidiaries as set forth in the Closing Date Budget; provided, further, that Parent and its Subsidiaries shall not incur any Operating Expenses of the type which are not consistent with those specified in the consolidated statements of income of Parent and its Subsidiaries delivered to Lender prior to the Closing Date; and
Operating Expense. The LESSEE will pay for all water, gas, heat, light, power, telephone service, and other public utilities furnished to the Leased Space and used by the LESSEE throughout the Initial Term or Renewal Term hereof, and all other costs and expenses of every kind whatsoever in connection with the use, operation, and maintenance of the Leased Space and all activities conducted thereon.
Operating Expense. “Operating Expense” and/or NNN shall mean the total costs and expenses incurred in operating, managing and maintaining the Shopping Center, including without limitation, such maintenance and repair as shall be required in Landlord’s judgment to preserve the Shopping Center in the same condition and status as it was at the time of completion of the original construction and installation; costs and expenses of planting, maintaining and replacing landscaping; water and sewer charges; ventilating; interior and exterior painting; required licenses and permits; costs of exterior lighting; installation, maintenance and replacement of exterior signs; maintenance, repair and cleaning of Common Area floors; removal of snow, trash, rubbish, garbage and other refuse; parking lot maintenance and line striping; all costs and expenses of fire protection and sprinkler maintenance; security costs, traffic control and policing; acquisition costs of replacement and/or rents for the leasing of any machinery, equipment, including lighting, used in connection with operation, management or maintenance; repair and/or replacement of the roof and of on-site water lines, sanitary and storm sewer lines; the cost and expense of leasing all or any part of the Common Area; the cost of management personnel and supervision (including compensation and benefit costs of such personnel); special assessments; Real Estate Taxes and any and all governmental impositions and surcharges; administrative charges equal to fifteen percent (15%) of the total costs of operating, managing and maintaining the Shopping Center; and any costs incurred by the Landlord in making capital improvements or other modifications to the Shopping Center or any part thereof, and any installation of equipment or materials or makes other improvements required to comply with applicable laws, orders or regulations of governmental authorities enacted after the date hereof, the costs of such improvements, equipment, materials or modifications shall be amortized over the useful life of such improvement or modification amount, in accordance with such reasonable life and amortization schedules and shall be determined by Landlord in accordance with generally accepted accounting principles; and costs incurred in engaging experts or other consultants to assist Landlord in making any of the computations required under this Lease. In addition to the above, Operating Expense shall be deemed to include all premiums paid for all insuranc...
Operating Expense. (a) Tenant shall pay as Additional Rental its proportionate share of any increase in operating expenses for the Premises of which the Subleased Premises are a part which may be sustained by Sublessor during the term of this lease which exceed the sum of the operating expenses of the calendar year 1995 (base year). Sublessee's proportionate share of any increase shall be that percentage determined by dividing the rentable number of square feet hereby subleased by Sublessee (21,996 square feet) by the total number of rentable square feet in the Premises (151,800 square feet), which percentage is 14.49%. Notwithstanding the foregoing, for any period of this Sublease not constituting a full calendar year, Sublessee shall pay only a fractional part of its proportionate share of any applicable increase in the operating expenses based upon the number of days of its occupancy of the Sublease Premises for such year divided by 365.
(b) The term "operating expenses" shall mean all expenses, costs and disbursements of every kind and nature (including but not limited to "Capital Costs" as hereinafter defined and to the extent stated herein and reasonable management fees, which fees shall be included in base year 1995), excluding however, taxes, expense of alternations of premises for the accommodation of a specific tenant, brokers fees, and expenditures made for capital investment or improvements, which the Sublessor shall pay or become obligated to pay in connection with the operation of the Common Areas (as hereinafter defined) and the Premises which, in accordance with generally accepted principles of sound accounting practice, apply to the operation and maintenance of comparable buildings.
Operating Expense. In the manner and to the extent provided in Section 8, any and all costs arising from Landlord's performance of the Premises Maintenance and Services Obligations shall be paid in full by Tenant as Additional Rent and Operating Expenses under this Lease.
Operating Expense. As used in this Lease, "Building Operating ----------------- Expenses" means all of the Building Service Expenses and an allocable portion of the Project Expenses as follows:
Operating Expense. All Taxes which are levied or assessed or which become a lien upon any portion of the Project or which become due or accrue during the Lease Term shall be an Operating Expense, and Tenant shall pay as Additional Rent each month during the Lease Term 1/12th of its annual share of such Taxes, based on Landlord’s estimate thereof, pursuant to Paragraph 12 below. Tenant’s share of Taxes during any partial tax fiscal year(s) within the Lease Term shall be prorated according to the ratio which the number of days during the Lease Term or of actual occupancy of the Premises by Tenant, whichever is greater, during such year bears to 365.
