Operating Expenses Defined. “Operating Expenses” means all costs and expenses incurred or accrued in each calendar year in connection with the ownership, operation, maintenance, management, repair and protection of the Property which are directly attributable or reasonably allocable to the Building, including Landlord’s personal property used in connection with the Property and including all costs and expenditures relating to the following:
Operating Expenses Defined. Operating Expenses", as used in this Lease, means all amounts paid or accrued by Landlord per calendar year for the operation and maintenance of the Project or the land on which it is situated, and the equipment, fixtures and facilities used in connection therewith, including the parking area. Operating Expenses includes, but is not limited to the cost of utilities, building supplies, janitorial and window cleaning services, normal maintenance and repair of the Project and the common areas (including elevators, if any, and the periodic refurbishing of the common areas), heating and air-conditioning, waste disposal, lighting, maintenance of fire protection and security systems, planting and landscaping, landscape maintenance, taxes (defined below), insurance premiums (including boiler and machinery, fire and extended coverage, earthquake, flood, rental and public liability insurance), and all labor, supplies, materials, tools, professional fees, management fees, wages, salaries and payroll burden of the Project manager, clerical maintenance and other employees directly associated with the operation of the Project, (including Project office rent or rental value, office supplies and materials, and all other items constituting operating and maintenance costs in connection with the Project and land according to generally accepted accounting principles). Operating Expenses shall not include the following: (a) depreciation of the Project, (b) leasing commissions, (c) repairs and restorations paid for by the proceeds of any insurance policy or (d) construction of improvements of a capital nature, except for the cost, or a portion thereof properly allocable to the Project, of any capital improvements made to the Project specifically to reduce Operating Expenses, or required to be made to the Project specifically to reduce Operating Expenses, or required to be made to the Project under any governmental law or regulation not applicable to the Project at the time it was constructed. Such cost shall be amortized over such reasonable period of time as Landlord shall determine, (e) ground rent, (f) debt service, (g) income and franchise taxes other than that portion, if any, of income and franchise taxes which may hereinafter be assessed and paid in lieu of or as a substitute in whole or in part for Taxes.
Operating Expenses Defined. The term “Operating Expenses” shall be determined as if the Project were at least ninety five percent (95%) occupied, with the Operating Expenses based on actual Operating Expenses if ninety five percent (95%) or greater occupancy, and shall mean the following:
A. All costs and expenses paid or incurred by Landlord in doing the following (including payments to independent contractors providing services related to the performance of the following): (i) maintaining, cleaning, repairing and resurfacing the roof (including repair of leaks) and the exterior surfaces (including painting) of all buildings located on the Project and maintaining and repairing the structural components of the Building; (ii) maintenance of the liability, fire, property damage and any other insurance covering the Project carried by Landlord pursuant to Section 9.2 or otherwise (including the prepayment of premiums for coverage of up to one year); (iii) maintaining, repairing, operating and replacing when necessary HVAC equipment, utility facilities and other building service equipment; (iv) providing utilities to the Project (including lighting, trash removal and water for landscaping irrigation); (v) complying with all applicable Laws and Private Restrictions; (vi) operating, maintaining, repairing, cleaning, painting, restriping and resurfacing the Common Area; (vii) replacement or installation of lighting fixtures, directional or other signs and signals, irrigation systems, trees, shrubs, ground cover and other plant materials, and all landscaping in the Common Area; (viii) providing the utilities and services described in this Lease other than those which are described as being separately chargeable to Tenant; (ix) providing security, if any; and (x) to the extent Landlord elects to include such in Operating Expenses, costs incurred pursuant to Section 5.4;
B. The following costs: (i) Real Property Taxes as defined in Section 8.3; (ii) the amount of any deductible paid by Landlord under any insurance maintained by Landlord; (iii) the cost to repair damage caused by an Uninsured Peril up to a maximum amount in any twelve (12) month period equal to four percent (4%) of the replacement cost of the Project; and (iv) that portion of all compensation (including benefits and premiums for workers* compensation and other insurance) paid to or on behalf of employees (at or below the level of property manager) of Landlord but only to the extent they are involved in the performance of the wor...
Operating Expenses Defined. The term “Operating Expenses” shall mean the following:
Operating Expenses Defined. 6 7.3 Exclusions from operating Expenses..................................................................8 7.4
Operating Expenses Defined. As used herein, the term “Operating Expenses” shall mean all expenses, costs and disbursements of every kind and nature, except as specifically excluded otherwise herein, which Landlord incurs because of or in connection with the ownership, maintenance, management and operation of the Project, determined in accordance with sound management accounting principles and not to exceed 100% of the amounts actually incurred by Landlord; provided that (i) if the Building or Project is less than 95% occupied, Operating Expenses shall include all additional costs and expenses of ownership, operation, management and maintenance of the Building or Project, as applicable, that can reasonably be expected to vary with occupancy, which Landlord determines that it would have paid or incurred during any Calendar Year if the Building or Project, as applicable had been 95% occupied; and (ii) if the Building or Project, as applicable is equal to or greater than 95% occupied, Operating Expenses shall include all costs and expenses of ownership, operation, management and maintenance of the Building or Project, as applicable, that can reasonably be expected to vary with occupancy, which Landlord determines that it would have paid or incurred during any Calendar Year if the Building or Project, as applicable, had been 100% occupied. To the extent that Operating Expenses are shared among the Building and one or more Other Buildings or relate to amenities or services provided only to, or used on a disproportionate basis by, specific tenants, Landlord shall allocate on an equitable basis such Operating Expenses to the Building and Other Buildings or among specific tenants of the Project, as determined in Landlord’s reasonable discretion. Operating Expenses may include, without limitation, all costs, expenses and disbursements incurred or made in connection with the following:
Operating Expenses Defined. The term "Operating Expenses" shall mean those reasonable expenses paid by the Lessor in respect to the Building for those repairs set forth herein, charges for electricity, water, gas, sanitary sewer and other public utilities, snow removal, landscaping expenses, Building Common Area utilities, premiums for casualty insurance on the Building, and the cost, as reasonably amortized by the Lessor, of any capital improvement made after the first Lease Year which reduces other Operating Expenses, but in an amount not to exceed such reduction for the relevant year. Operating Expenses shall not include: (i) the cost and expense to Lessor for Major Repairs as defined herein), (ii) the cost to the Lessor of any work or service performed in any instance for any tenant (including the Lessee)at the cost of such tenant, (iii) the amortization of any capital improvement without Lessee's consent, (iv) Lessor's depreciation of the Building, debt service, capital expenditures other than included above, taxes on income, franchise taxes, payments to affiliates of Lessor not expressly approved by Lessee, management salaries or fees, tenant allowances and other expenditures in connection with the preparation of space for use by a tenant or a prospective tenant and casualty loss or damage and repairs and other expenses related thereto.
Operating Expenses Defined. As used herein, the term “Operating Expenses” shall mean all expenses, costs and disbursements of every kind and nature, except as specifically excluded otherwise herein, which Landlord incurs because of or in connection with the ownership, maintenance, management and operation of the Project, including, if the Project is less than ninety-five percent (95%) occupied, all additional costs and expenses of operation, management and maintenance of the Project which Landlord determines that it would have paid or incurred during any Calendar Year if the Project had been ninety-five percent (95%) occupied. Operating Expenses may include, without limitation, all costs, expenses and disbursements incurred or made in connection with the following:
Operating Expenses Defined. The term "Operating Expenses" shall mean each and every expense incurred by Landlord to own, operate, maintain, repair, replace, and manage any portion of the Property, including, but not limited to, all costs and expenses paid or incurred by Landlord in doing the following (including payments to independent contractors providing services related to the performance of the following): (i) maintenance of any liability, fire, property damage and other insurance relating to the Property carried by Landlord (including the payment of reasonable "deductibles" and the pre-payment of premiums for coverage of up to one year); (ii) maintaining, repairing, operating, and replacing, when necessary, any items in connection with the Property that Landlord is required to maintain or elects to maintain hereunder; (iii) that portion of all compensation (including benefits and premiums for worker's compensation and other insurance) paid to, or for the benefit of, employees of Landlord involved in the performance of the work described above that is fairly allocable to the Property; and (iv) and property management fees actually incurred with respect to a third party property manager or, if Landlord manages the Property itself, an amount not to exceed five percent (5%) of the gross revenues of the Property, as a management fee to Landlord. With respect to the cost of any capital improvement which are not expensed by Landlord, Landlord shall amortize such expenses and such amortized costs may be included in Operating Expenses as follows: the monthly amortization of any such capital improvement shall be the sum of the (a) quotient obtained by dividing the cost of the capital improvement by Landlord's estimate of the number of months of useful life of such improvement plus (b) an amount equal to the cost of the capital improvement times 1/12 of 8%. Nothing set forth herein shall impose upon Landlord an obligation to so repair, maintain and/or replace any items unless such obligation is otherwise expressly set forth elsewhere in this Lease.