Operating Expense Increases. Tenant shall pay to Landlord during the term hereof, in addition to the Base Rent, Tenant’s Share of the amount by which all Operating Expenses for each Comparison Year exceed the amount of all Operating Expenses for the Operating Expense Base Year. If less than 95% of the rentable square feet in the Building is occupied by tenants or Landlord is not supplying services to tenants occupying 95% of the rentable square feet of the Building at any time during any calendar year (including the Operating Expense Base Year), Operating Expenses for such calendar year shall be reasonably extrapolated by Landlord, on an item-by-item basis, to the amount of Operating Expenses that would normally be expected to be incurred had 95% of the Building’s rentable square feet been occupied and had Landlord been supplying services to tenants occupying 95% of the Building’s rentable square feet throughout such calendar year (hereinafter the “Grossed Up Operating Expenses”), and such amount shall be the Operating Expenses for such calendar year. Except as provided in paragraph (h) below, Landlord’s good faith estimate of Grossed Up Operating Expenses shall not be subject to challenge or recalculation by Tenant. Tenant’s Share of Operating Expense increases shall be determined in accordance with the following provisions:
Operating Expense Increases. Tenant shall pay to Landlord during the term hereof, in addition to the Base Rent, Tenant's Share of the amount by which all Operating Expenses for each Comparison Year exceeds the amount of all Operating Expenses for the Base Year. If less than 95% of the rentable square feet in the Project is occupied by tenants or Landlord is not supplying services to 95% of the rentable square feet of the Project at any time during any calendar year (including the Base Year), Operating Expenses for such calendar year shall be an amount equal to the Operating Expenses which would normally be expected to be incurred had 95% of the Project's rentable square feet been occupied and had Landlord been supplying services to 95% of the Project's rentable square feet throughout such calendar year (hereinafter the "Grossed Up Operating Expenses"). Landlord's good faith estimate of Grossed Up Operating Expenses shall not be subject to challenge or recalculation by Tenant. Tenant's Share of Operating Expense increases shall be determined in accordance with the following provisions:
Operating Expense Increases. (a) Commencing on January 1, 2021, Tenant shall pay to Landlord, as Additional Rent, Tenant's Projected Share, as set forth in Section 6.01(j) hereof. Within one hundred eighty (180) days following the expiration of each Operational Year, Landlord shall furnish Tenant a Landlord's Statement (in commercially reasonable detail) prepared by Landlord's chief financial officer or Landlord's independent certified public accountant (in accordance with sound commercial real estate management practices), setting forth the Cost of Operation and Maintenance incurred for the immediately preceding Operational Year. Within thirty (30) days after receipt of such statement for each Operational Year setting forth Tenant's Proportionate Share of any increase of Cost of Operation and Maintenance during such Operational Year over the amount of the Base Expenses (said increase being referred to herein as the "Cost Increase"), Tenant shall pay the Cost Increase (less the amount of Tenant's Projected Share paid by Tenant on account thereof) to Landlord as Additional Rent.
(b) If Landlord's Statement provided in accordance with the provisions of Section 6.03(a) for an Operational Year shall indicate that Tenant's Projected Share for said Operational Year exceeded Tenant's Proportionate Share of Cost Increase, Landlord shall permit Tenant to credit the amount of such excess against the next subsequent payment(s) of Rent due hereunder. If Landlord's Statement shall indicate that Tenant's Cost Increase exceeded Tenant's Projected Share for said Operational Year, Tenant shall, within thirty (30) days after demand therefor, pay the amount of such excess to Landlord in Additional Rent.
(c) Following the expiration of this Lease in accordance with the provisions hereof (and provided no Event of Default by Tenant exists hereunder), any overpayments by Tenant of any Additional Rent shall be refunded to Tenant within sixty (60) days of such Lease expiration.
Operating Expense Increases. Tenant shall pay to Landlord during the term hereof, in addition to the Base Rent, Tenant's Share of the amount by which all Operating Expenses for each Comparison Year exceeds the amount of all Operating Expenses for the Base Year. If less than 95% of the rentable square feet in the Project is occupied by tenants or Landlord is not supplying services to 95% of the rentable square feet of the Project at any time during any calendar year (including the Base Year), Operating Expenses for such calendar year shall be an amount equal to the Operating Expenses which would normally be expected to be incurred had 95% of the Project's rentable square feet been occupied and had Landlord been supplying services to 95% of the Project's rentable square feet throughout such calendar year. Tenant's Share of Operating Expense increases shall be determined in accordance with the following provisions:
(a) Notwithstanding anything to the contrary contained in Section 1.14, Landlord shall have the right to determine Tenant's Share of the cost of Operating Expenses using any one of the following methods or any combination of the following methods, and Tenant hereby agrees that the following methods of allocation are reasonable: (i) by multiplying the cost of all Operating Expenses by a fraction, the numerator of which is the number of square feet of rentable space in the Premises and the denominator of which is the number of square feet of rentable space in all buildings in the Project; or (ii) with respect to an Operating Expense attributable solely to the Building in which the Premises is located, requiring Tenant to pay that portion of the cost of the Operating Expense that is obtained by multiplying such cost by a fraction, the numerator of which is the number of square feet of rentable space in the Premises and the denominator of which is the number of square feet of rentable space in the Building in which the Premises is located or (iii) by allocating an Operating Expense in any other reasonable manner, as determined by Landlord.
Operating Expense Increases. Tenant shall pay to Landlord, at the times hereinafter set forth, an amount equal to 1.21% of any increase in direct expenses paid or incurred by Landlord on account of the operation or maintenance of the building above such direct expenses paid or incurred by Landlord during the Base Year. "Base Year" as used in this subparagraph (c) shall mean the calendar year 1998. "Direct expenses" as used herein shall include all direct costs of operation and maintenance as determined by standard accounting practices as set forth in the Building Owners and Managers Association International (BOMAI) chart of accounts from time to time (excluding, however, any and all taxes of the nature set forth in subparagraph (B)
Operating Expense Increases. Tenant shall pay to Landlord during the term hereof, in addition to the Base Rent, Tenant’s Share of the amount by which all Operating Expenses for each Comparison Year exceeds the amount of all Operating Expenses for the Base Year. If less than 95% of the rentable square feet in the Project is occupied by tenants or Landlord is not supplying services to 95% of the rentable square feet of the Project at any time during any calendar year (including the Base Year), Operating Expenses for such calendar year shall be an amount equal to the Operating Expenses which would normally be expected to be incurred had 95% of the Project’s rentable square feet been occupied and had Landlord been supplying services to 95% of the Project’s rentable square feet throughout such calendar year. Tenant’s Share of Operating Expense increases shall be determined in accordance with the following provisions:
Operating Expense Increases. (a) Tenant shall during the term of this lease pay as additional rent an amount (per each square foot of rentable area within the leased premises) equal to the excess ("Excess") from time to time of actual Basic Cost per rentable square foot in the Building over $the --- operating expenses from the period of January 1, 1995 through ------------------------------------------------ ------- December 31, 1995 Landlord, at its option, may collect such ------------ additional rent in a lump sum, to be due and payable within thirty (30) days after Landlord furnishes to Tenant a statement of actual Basic Cost for the previous year, or beginning with January 1, 1996, and on each January 1 thereafter. Landlord shall also have the option to make a good faith estimate of the Excess for each upcoming calendar year and upon thirty (30) days' written notice to Tenant may require the monthly payment of such additional rent equal to one- twelfth (1/12) of such estimate. SEE ALSO SECTION 40.10
(b) By April 30th of each calendar year during Tenant's occupancy, or as soon thereafter as practical, Landlord shall furnish to Tenant a statement of Landlord's actual Basic Cost for the previous year. If for any calendar year additional rent collected for the prior year as a result of Landlord's estimate of Basic Costs is in excess of the additional rent actually due during such prior year, then Landlord shall refund to Tenant within 10 days of written notice any overpayment. Likewise, Tenant shall pay to Landlord, within 10 days of written notice, any underpayment with respect to the prior year.
Operating Expense Increases. Tenant agrees to pay its --------------------------- Proportionate Share of Operating Expenses (as defined below) in excess of actual Operating Expenses for the calendar year 2000 (the "Base Year"), as more fully provided in Section 3.
Operating Expense Increases. The cost of operating the Fund could increase as salaries and fees increase and as costs of other items rise. The Lease provides for a 2 percent increase annually in the rental income received by the Trustee. Operating expenses are estimated to increase by 2 percent annually. However, if operating expenses were to increase by an amount greater than the increase in rental income, this could result in a reduction in the amount of income available to be allocated to income beneficiaries.
Operating Expense Increases. For calendar year 2002 and each calendar year thereafter during the Term, an amount equal to the excess of Landlord’s Operating Expenses for such calendar year over the Operating Expense Base.
