Operating Expense Escalation. During the Base Term, the annual Base Rent shall be adjusted for increases in Operating Expenses, (as hereinafter defined), in the following manner:
(a) The Base Rent includes an annual expense stop of Five and 05/100 Dollars ($5.05) per rentable square foot. The first year’s Estimated CAM and Operating Expenses are attached hereto as Exhibit E. Each twelve month period from the beginning of the Base Term shall be a lease year. Lessee shall be responsible for its proportionate share of the cost of Operating Expenses over the expense stop amount stated herein. Operating Expenses which are not directly attributable to the Demised Premises shall be prorated by dividing the total number of rentable square feet in the Demised Premises by the total number of square feet in the XXXX Building.
(b) Lessor shall furnish Lessee, annually, statements prepared by the chief financial officer or general partner of Lessor and certified by such officer, partner or an independent certified public accountant showing Operating Expenses for the lease year. If Operating Expenses during the lease year are greater than the expense stop amount, Lessee shall pay its share of the overage to Lessor within thirty (30) days after receiving such certified statements. As used in this Article, “Operating Expenses” shall include only those items customarily considered in good accounting practice to be building operating expenses, to wit normal repairs not covered by insurance, maintenance, cleaning, janitorial services, utilities, supplies, real estate taxes, Xxxxxx Island Executive Center LLC common area maintenance and assessment charges, premiums for fire, casualty and liability insurance with respect to the building containing the Demised Premises, and management fees not in excess of three percent (3%) of gross collections. Operating Expenses shall not include, among other things, any expenses related to financing, depreciation, amortization, ground rents, costs of a capital nature, costs for which Lessee or other occupants of the Building are charged other than pursuant to the Operating Expense clauses, costs of procuring lessees, attorneys’ fees, accounting fees, nor administrative salaries and wages except for personnel working exclusively for the buildings containing the Common Improvements. Operating Expenses shall include only those costs actually paid by Lessor.
Operating Expense Escalation. 49.01 Tenant shall pay to Landlord, as Additional Rent, operating expense escalations in accordance with this Article.
49.02 For the purposes of this Article, the following definitions shall apply:
Operating Expense Escalation. In order to adjust, during the term of this lease, for increases in the expenses of the Landlord in operating the building, the Tenant shall pay to the Landlord, as additional rent, commencing on April 1, 2001 and on each April 1 thereafter, the amount indicated in Schedule 1 as the Operating Expense Payment, such amount to be paid (in addition to the annual fixed rent) in twelve equal monthly installments.
Operating Expense Escalation. 7.1 For purposes of this Lease:
A. The term “Base Operating Factor” shall mean Operating Expenses, as hereinafter defined, for the calendar year 2013.
Operating Expense Escalation. Commencing twelve (12) months following the Commencement Date, Subtenant shall pay Sublandlord an Operating Expense Escalation equal to two and one half percent (2.5%) per annum of the prior year’s Fixed Rent in lieu of any other payment on account of escalations in operating expenses for the Building, the Prime Lease Premises or the Premises, pursuant to the Prime Lease or otherwise (the “Operating Expense Escalation Payment”). For purposes of illustration, the Fixed Rent plus Operating Expense Escalation commencing twelve (12) months following the Commencement Date shall be as follows on a monthly and annual basis (it being understood that (i) the dates set forth below are based upon a Commencement Date of June 1, 2007 and in the event that the Commencement Date varies from that date, the dates set forth below shall vary accordingly) and (ii) if the final period is less than twelve (12) months, then the per annum sum of Fixed Rent plus Operating Expense Escalation for such period shall be prorated). June 1, 2007 – May 31, 2008 $ 2,626,920.00/annum $ 218,910.00/month June 1, 2008 – May 31, 2009 $ 2,692,593.00/annum $ 224,382.75/month June 1, 2009 – May 31, 2010 $ 2,759,907.80/annum $ 229,992.31/month June 1, 2010 – May 31, 2011 $ 2,828,905.52/annum $ 235,742.13/month June 1, 2011 – May 31, 2012 $ 2,899,628.47/annum $ 241,635.71/month June 1, 2012 – May 31, 2013 $ 2,972,119.18/annum $ 247,676.60/month June 1, 2013 – May 31, 2014 $ 3,046,422.16/annum $ 253,868.51/month June 1, 2014 – Expiration Date $ 3,122,582.71/annum $ 260,215.22/month
Operating Expense Escalation. Lessee shall pay Lessor, as additional rent, Lessee's Share of Operating Expense, multiplied by the amount, if any, by which the Operating Expenses increase over the Operating Expense Base. The amount due Lessor hereunder if any shall be estimated by Lessor annually and such estimate shall be payable to Lessor in monthly installments over such year. At year end, the actual Operating Expenses incurred during that year shall be determined by Lessor, and any adjustment in such estimate shall be made, with additional payments by or refunds to Lessee, as appropriate. "Operating Expense" shall include reasonable and necessary expenses incurred by Lessor for the insurance of the Building and the , maintenance and insurance of the Land Common Area.
Operating Expense Escalation. If the Operating Expenses incurred for the Building and the Property for any calendar year or partial Lease Year during the Lease Term are greater than the Operating Expenses during the Base Period for Operating Expenses (adjusted proportionately for periods less than a calendar year), grossed up to reflect a 95% occupied Building provided that such adjustment will only be made with respect to those items that are in fact affected by variations in occupancy levels, Tenant will pay to Landlord, as Additional Rent, Tenant’s Share of all such excess Operating Expenses.
Operating Expense Escalation. Section 24.01 For the purposes of this Lease:
A. The term “Escalation Year” shall mean each calendar year which shall include any part ofthe Term.
Operating Expense Escalation. 49.01 Tenant covenants to pay, directly to the Condominium Board (as such term is defined in the Declaration) before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, as Additional Rent, all Common Charges accruing during the Term in respect of the Premises.
Operating Expense Escalation. Effective as of the Effective Date, Article 5 of the Lease shall be deleted in its entirety and the following substituted in its place: "Operating Expense Escalation. ____________________________
5.01 For purposes of this lease the following terms shall have the following meanings:
(a) The term "Expenses" shall mean the total of all the costs and expenses (and taxes thereon, if any) incurred by Landlord with respect to the operation and maintenance of the Building and the property on which the Building is located (the "Property") and the services provided to the tenants of the Building (including Tenant) computed on an accrual basis including, without limitation, the costs and expenses with respect to: steam, gas and any other fuel or utilities; water rates and sewer rents; the cost of operating the Building's cooling system, as is necessary to provide air conditioning to the Building at all times; ventilation and heating; electricity for areas other than those leased to individual tenants (including electricity for air conditioning such areas) as indicated by meter, or if there be no meter, as determined by Landlord's electrical consultant; metal, elevator cab, lobby, plaza, sidewalk, curb and other public area maintenance and cleaning; interior and exterior landscaping and decoration; painting of nontenant areas; window cleaning and cleaning of stainless steel signbands in front of retail premises; the purchase price or rental cost, as applicable, of all building and cleaning supplies, tools, materials, machinery and equipment; depreciation of movable equipment used in the operation or maintenance of the Property; fire, extended coverage, boiler and machinery, sprinkler apparatus, public liability and property damage, loss of rental, fidelity and plate glass insurance and any other insurance required by the holder of any mortgage or ground lease covering the Property or customarily carried with respect to buildings similar to the Building; wages, salaries, bonuses, disability benefits, hospitalization, medical, surgical, dental, optical, psychiatric, legal, union and general welfare benefits (including group life insurance), any pension, retirement or life insurance plan and other benefit or similar expenses respecting employees of the Landlord up to and including the building manager; uniforms and working clothes for such employees and the cleaning and replacement thereof; expenses imposed on the Landlord pursuant to law or to any collective bargaining ...
