Operating Expense Rent. For purposes of this Lease:
Operating Expense Rent. Commencing on the first day of the calendar year following the Base Year, Tenant shall pay Tenant's Percentage Share, as defined in the Schedule, of the Operating Expenses ("Operating Expense Rent") paid or incurred by Landlord in each calendar year of the Lease Term in excess of the Operating Expenses of the Base Year as set forth in the Schedule of Terms. Operating Expense Rent, except Real Estate Taxes and insurance premiums, shall be limited to an increase of five percent (5%) annually.
Operating Expense Rent. Tenant shall pay Operating Expense Rent for the Premises and the Option Space, and Tenant’s Percentage Share as defined in Paragraph 1.4 shall be increased based on the size of the Option Space.
Operating Expense Rent. Tenant ’ s Percentage Share of Operating Expenses. The estimated monthly charge for Operating Expense Rent during calendar year 2014 is S4.50 per rentable square foot (which estimated amount excludes utility charges since all utilities to the Premises are separately metered). Operating Expense Rent is due as of the Rent Commencement Date of this Lease. See Paragraph 5.
Operating Expense Rent. Tenant shall pay Operating Expense Rent as provided in Article 8.
Operating Expense Rent. The estimated Operating Expense Rent shall initially be $8.57 per RSF per year, which is equivalent to $1156.24 per month for the Premises, plus any applicable taxes. The Operating Expense Rent is subject to adjustment from time to time as hereinafter set forth.
Operating Expense Rent. Notwithstanding anything to the contrary, the intent of the parties is that no additional Operating Expense Rent will apply to the Lessee during the Lease Term or the Extension Term as defined and subject to the terms and conditions in Rider I, if applicable. Operating Expense Rent is not applicable during the Initial Lease Term or the Extension Term, during which Lessee shall be responsible only for Base Rent. For purposes of determining the fair market rental value for the Extension Term in accordance with Rider I, however, Lessee and Lessor agree to take into account the Operating Expense Rent that would be attributable to the Premises. For each calendar year following the Base Year, an amount (“Expense Rent”) equal to the product of
(i) the difference (but not less than zero) between (A) the Basic Costs per square foot of Rentable Area of the Building for such year, less (B) Basic Costs per square foot of Rentable Area of the Building for the Base Year, and
(ii) the Rentable Area of the Premises.
Operating Expense Rent. From and after the Expansion Premises Commencement Date and continuing during the Extension Term, Lessee’s obligation to pay Operating Expense Rent in accordance with Section 3b of the Lease shall include the square footage of both the Existing Premises and the Expansion Premises, and shall otherwise be payable in accordance with Section 3b of the Lease.
Operating Expense Rent. Tenant's Percentage Share of Operating Expenses. The estimated monthly charge for Operating Expense Rent during the first calendar year of the Term (or portion thereof) is $14,850.00 and shall not exceed $14,850.00 per month.
Operating Expense Rent a. Xxxxxx agrees to pay to Landlord Xxxxxx's Share of Operating Expenses ("Operating Expense Rent") in accordance with the provisions of this Article 5.
b. Beginning on the Commencement Date, Tenant shall pay Operating Expense Rent in monthly installments as Rent in such amounts as are estimated (based on Landlord’s good faith estimate of the Operating Expenses for such year) and billed by Landlord for each calendar year. If at any time during any calendar year it appears that Landlord has underestimated Operating Expense Rent for such calendar year, Landlord may re-estimate Operating Expense Rent and may bill Tenant for any deficiency which may have accrued and thereafter the monthly installment payable by Tenant shall also be adjusted. Within one hundred twenty (120) days after the end of each calendar year, Landlord shall deliver to Tenant a statement of actual Operating Expenses for the preceding calendar year and Tenant’s actual Share of Operating Expenses for the preceding calendar year (with Operating Expenses appropriately prorated for the calendar year in which the Commencement Date occurs and the calendar year in which this Lease expires or terminates so as to not charge Tenant for any Operating Expenses incurred outside of the Term), and the monthly installments paid or payable shall be adjusted between Landlord and Tenant, and each party hereby agrees that Tenant shall pay Landlord or Landlord shall credit Tenant's account (or, if such adjustment is at the end of the Term, pay Tenant), within thirty (30) days of receipt of such statement, the amount of any excess or deficiency in Operating Expense Rent paid by Tenant to Landlord during such calendar year period. Failure of Landlord to provide the statement called for hereunder does not relieve Tenant from its obligations hereunder.
c. With respect to any calendar year or partial calendar year in which the Building is not occupied to the extent of 100% of the RSF thereof or Landlord is not supplying services to 100% of the RSF thereof, the Operating Expenses for such period shall, for the purposes hereof, be grossed-up to the amount that would have been incurred had the Building been occupied to the extent of 100% of the rentable area thereof and Landlord had been supplying services to 100% of the rentable area thereof.