Operating Expenses and Real Estate Taxes. Commencing on the first (1st) day of the second Fifth Floor Expansion Space Lease Year, Tenant shall pay (in accordance with the process generally set forth in Section 5.1(e) of the Lease), as additional rent for the Fifth Floor Expansion Space, (i) Tenant’s proportionate share (with respect to the Fifth Floor Expansion Space only) of the amount by which Operating Expenses incurred by Landlord for each calendar year falling entirely or partly within the Fifth Floor Expansion Space Lease Term exceed the Fifth Floor Expansion Space Base Year Operating Expenses (hereinafter defined) incurred by Landlord during the twelve (12) month period commencing January 1, 2009, and ending December 31, 2009 (the “Fifth Floor Expansion Space Base Year”), and (ii) Tenant’s proportionate share (with respect to the Fifth Floor Expansion Space only) of the amount by which Real Estate Taxes for each calendar year falling entirely or partly within the Fifth Floor Expansion Space Lease Term exceed the Fifth Floor Expansion Space Base Year Real Estate Taxes (hereinafter defined) incurred by Landlord during the Fifth Floor Expansion Space Base Year. For the purpose of this Second Amendment, the term “Fifth Floor Expansion Space Base Year Operating Expenses” means the Operating expenses incurred by Landlord during
Operating Expenses and Real Estate Taxes. (a) For purposes of this Paragraph, the following definitions shall apply:
Operating Expenses and Real Estate Taxes. (a) Prior to the commencement of the Extension Term, additional rent payments on account of Operating Expenses and Real Estate Taxes shall continue to be due and payable in the amounts provided for in Section 6 of the Lease.
(b) Commencing on the first day of the Extension Term and for the entire Extension Term, the Operating Expenses Base, as provided in Section 6.1 of the Lease, shall be the Operating Expenses for calendar year 1998, and Tenant shall pay, as additional rent as provided in the Lease, 7.143% of any Operating Expenses in excess of the Operating Expenses Base.
(c) Commencing on the first day of the Extension Term and for the entire Extension Term, the Tax Base as provided in Section 6.3 of the Lease shall be the Real Estate Taxes for Fiscal Year 1999 (July 1, 1998 to June 30, 1999), and Tenant shall pay, as additional rent as provided in the Lease, 7.143% of any Real Estate Taxes in excess of the Tax Base.
Operating Expenses and Real Estate Taxes. (a) Prior to the commencement of the Extended Term, additional rent on account of Operating Expenses and Real Estate Taxes shall continue to be due and payable as provided in the Lease.
(b) Commencing on The first day of the Extended Term and thereafter through the end of the Extended Term, the “Operating Expenses Base” shall be defined as the Operating Expenses (as defined in the Lease) for calendar year 2003, and Tenant shall pay, as additional rent, Tenant’s Proportionate Share of any Operating Expenses in excess of the Operating Expenses Base. For purposes of this Section 3(b) and (c), “Tenant’s Proportionate Share” during the Extended Term shall be defined as 7.145%.
(c) Commencing on the first day of the Extended Term and thereafter through the end of the Extended Term, the “Tax Base” shall be defined as the Real Estate Taxes (as defined in the Lease) for fiscal year 2004 (July 1, 2003 to June 30, 2004), and Tenant shall pay, as additional rent, Tenant’s Proportionate Share of any Real Estate Taxes in excess of the Tax Base.
(d) On the first day of each month throughout the Term (including prior to the commencement of the Extended Term and during the Extended Term), Tenant shall pay to Landlord, on account towards Tenant’s share of anticipated increases in Operating Expenses and Taxes above the Operating Expenses Base or the Tax Base, respectively, one-twelfth of the total amount reasonably estimated by Landlord to be Tenant’s share thereof for such Operating Year or Tax Year.
Operating Expenses and Real Estate Taxes. 8.1 Subject to the terms hereof, in addition to the Monthly Installments of Annual Base Rent, Tenant shall pay on a monthly basis as Additional Rent during the term hereof, Tenant’s Pro Rata Share of “Operating Expenses,” which shall mean the costs and expenses incurred by Landlord in managing, cleaning, operating, maintaining, repairing and insuring the Building and the real property described on Exhibit “B” and the amortized cost (with interest at a reasonable market rate) over the anticipated useful life of: (i) equipment used in maintenance; and (ii) capital improvements necessary to preserve or maintain the Building and all improvements to the real property on which the Building is situated or required by any law, rule, regulation or order of any governmental or quasi-governmental authority if enacted after the Commencement Date. For the purposes of calculating the Pro Rata Share of Operating Expenses which are occupancy sensitive expenses, if the Building is less than 95% occupied during all or a portion of any calendar year, Landlord may in accordance with sound accounting and management principles determine the amount of variable Operating Expenses (which shall only be the costs and expenses for cleaning, janitorial and trash removal expenses and supplies; repairs and maintenance, including electrical contract service and supplies, HVAC contract service and supplies, plumbing contract service and supplies, and other common area services, supplies and decorating; administrative expenses, including general supplies and management fees; and utilities, including electricity, water, and chilled water charges to the extent any of the foregoing vary with occupancy levels in the Building) that would have been paid had the Building been 95% occupied, and the amount so determined shall be deemed to have been the amount of variable Operating Expenses for such year, provided, however, that in no event shall Landlord collect from tenants of the Building more than 100% of the Operating Expenses actually incurred by Landlord in operating the Building during each respective calendar year by virtue of the foregoing gross-up or any other reason.
Operating Expenses and Real Estate Taxes. Notwithstanding anything contained herein to the contrary, Lessee shall not pay for, and operating expenses and real estate taxes shall not include, the following:
(i) any payments made pursuant to any financing arrangement entered into by Lessor and for which the Premises or any part thereof has been hypothecated or otherwise given as security;
(ii) any item concerning which Lessor has a claim against a third party and for which Lessor has been indemnified (it is understood that Lessor undertakes to institute all necessary legal proceedings in order to obtain such indemnity);
(iii) any claim for which Lessor has received compensation from its insurers; and
(iv) depreciation of the Building. Furthermore, there shall be no duplication of costs or expenses as described above and those costs and expenses shall be effectively incurred.
Operating Expenses and Real Estate Taxes. From and after the First Expense Year as hereinafter defined, in addition to the Monthly Rent, Tenant agrees to pay additional rent as and when provided in this Section 6.
Operating Expenses and Real Estate Taxes. (a) Commencing on the first anniversary of the Lease Commencement Date and continuing with each calendar year thereafter during the Lease Term, Tenant shall pay Landlord, as additional rent for the Premises, Tenant’s proportionate share of the amount by which operating expenses actually incurred by Landlord in connection with the management, operation and ownership of the Building including the Parking Garages (as defined in Article XXIV) (“Operating Expenses”) during any calendar year falling entirely or partly within the Lease Term exceed a base amount (“Base Year Operating Expenses”) equal to the actual Operating Expenses incurred by Landlord (subject to the adjustments thereto as are expressly provided for in this Article IV below) in connection with the management, operation and ownership of the Building during the twelve month period (“Base Year”) commencing January 1, 2021, and ending December 31, 2021. For purposes of this Article IV Tenant’s proportionate share of such increases in Operating Expenses shall be that percentage which is equal to a fraction, the numerator of which is the number of square feet of rentable area in the Premises from time to time and the denominator of which is the total number of square feet of rentable area in the Building from time to time, excluding the number of square feet devoted to storage space and parking. It is understood that the number comprising such denominator is subject to change because of changes in the use or configuration of space in the Building or the addition of space to the Building or the deletion of space from the Building or in the amount of space leased by tenants who pay by separate meter for their electrical and/or janitorial, cleaning, or other utilities or services so that Tenant actually pays its fair share of Operating Expenses. Any such change in rentable area shall be determined in accordance with the standard set forth in Section 1.3 of this Lease, and, in any event, that the denominator with respect to Real Estate Taxes (as defined in Section 4.1(c) below) shall be calculated based on the total number of square feet of rentable area in the Building, including portions of the Building occupied by retail tenants but exclusive of the garage and storage areas. Space leased by retail tenants is excluded from the denominator with respect to both (i) rubbish removal, water, electricity and janitorial service exclusively provided to their premises (and expenses for such services to their pre...
Operating Expenses and Real Estate Taxes. 1GENERAL: In addition to Monthly Base Rent, beginning on the Lease Commencement Date, Tenant shall pay Tenant's Share of the Operating Expenses (defined below);
Operating Expenses and Real Estate Taxes. Tenant’s obligations under Section 4.2 of the Lease to pay Operating Expenses with respect to the AON Space shall be computed using the calendar year ending December 31, 2009 as a base year; and Tenant’s obligations under Section 4.2 of the Lease to pay increases in Real Estate Taxes with respect to the AON Space shall be computed using the fiscal year ending June 30, 2009 as the base year.
