Operating Pass-Throughs Sample Clauses

Operating Pass-Throughs. Any operating cost pass-throughs or ----------------------- other sums paid by the tenants under the Space Leases relating to the Office Projects to Contributor shall be apportioned as follows: (i) all amounts paid prior to the Closing Date for periods prior to the Closing Date shall be retained by Contributor; (ii) any amounts payable by the tenants under the Space Leases relating to the Office Projects but not yet billed or collected on the Closing Date which reimburse Contributor for charges accruing prior to the Closing Date shall be paid by Operating Partnership to Contributor immediately upon collection of such amounts (and Operating Partnership hereby expressly agrees to use commercially reasonable efforts to collect such amounts on behalf of Contributor); and (iii) all amounts payable by tenants to reimburse for charges accruing for the period beginning on, and continuing after the Closing Date, shall be retained by Operating Partnership when collected. Any reimbursement amounts paid by tenants under the Space Leases which are not specifically attributable to a specified period shall be applied first to any amounts payable to Operating Partnership pursuant to clause (iii) above and then to any amounts payable to Contributors pursuant to clause (ii) above. If, as of the Closing Date, the tenants under the Space Leases relating to the Office Projects have been billed and have paid estimated reimbursements for charges accruing on or after the Closing Date, such collected amounts shall be prorated as of the Closing Date, and, when such estimates are reviewed to compare with actual expenses, Operating Partnership shall notify Contributor and Contributor shall return any amounts received in excess of actual expenses and, provided that such amounts were actually collected, Operating Partnership shall pay Contributor amounts charged to the tenants for shortfalls in the estimate. Contributor shall not be liable for any refunds of operating cost pass-throughs unless Operating Partnership has given notice of such refunds to Contributor not later than the first (1st) anniversary of the Closing Date and has given Contributor the opportunity to participate in the determination of any such refund.
Sample 1
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Related to Operating Pass-Throughs

  • Rent Rolls; Operating Histories The Seller has obtained a rent roll (the “Certified Rent Roll(s)”) other than with respect to hospitality properties certified by the related Mortgagor or the related guarantor(s) as accurate and complete in all material respects as of a date within 180 days of the date of origination of the related Mortgage Loan. The Seller has obtained operating histories (the “Certified Operating Histories”) with respect to each Mortgaged Property certified by the related Mortgagor or the related guarantor(s) as accurate and complete in all material respects as of a date within 180 days of the date of origination of the related Mortgage Loan. The Certified Operating Histories collectively report on operations for a period equal to (a) at least a continuous three-year period or (b) in the event the Mortgaged Property was owned, operated or constructed by the Mortgagor or an affiliate for less than three years then for such shorter period of time, it being understood that for mortgaged properties acquired with the proceeds of a Mortgage Loan, Certified Operating Histories may not have been available.

  • Operating Hours Subject to Building Rules and Regulations and such security standards as Landlord may from time to time adopt, the Building shall be open to the public during the Building Operating Hours and the Premises shall be open to Tenant during hours other than Building Operating Hours.

  • ADDITIONAL SPECIAL CONTRACT CONDITIONS Special Contract Conditions revisions: the corresponding subsections of the Special Contract Conditions referenced below are replaced in their entirety with the following:

  • Construction Phase Services 3.1.1 – Basic Construction Services

  • Master Use The Licensor hereby grants to Licensee a non-exclusive license (this "License) to record vocal synchronization to the Composition partly or in its entirety and substantially in its original form ("Master Recording")

  • Operating Partnership Agreement The Operating Partnership Agreement, in substantially the form attached hereto as Exhibit B, shall have been executed and delivered by the partners of the Operating Partnership and shall be in full force and effect and, except as contemplated by Section 2.03 or the other Formation Transaction Documents, shall not have been amended or modified.

  • As-Built Drawings Within thirty (30) Days of the successful completion of the Acceptance Test, Seller shall provide for Company review a set of the proposed as‑built drawings for the Company-Owned Interconnection Facilities constructed by Seller (and/or its Contractors). Within thirty (30) Days of Company's receipt of the proposed as‑built drawings, Company shall provide Seller with either (i) its comments on the proposed as‑built drawings or (ii) notice of acceptance of the proposed as‑built drawings as final as‑built drawings. If Company provides comments on the proposed as‑built drawings, Seller shall incorporate such comments into a final set of as‑built drawings and provide such final as‑built drawings to Company within twenty (20) Days of Seller's receipt of Company's comments.

  • Condominium Documents (a) Borrower shall observe and perform each and every material term to be observed or performed by Borrower as the owner of Condominium Property under the Condominium Documents. (b) Subject to Borrower’s right to contest the same in accordance with the express terms and conditions hereof and of the other Loan Documents and of the Condominium Documents, if any, Borrower shall promptly pay all Assessments imposed pursuant to the Condominium Documents when the same become due and payable with respect to the Condominium Property. Borrower shall deliver to Lender, promptly upon request, evidence satisfactory to Lender that the Assessments have been so paid and are not delinquent with respect to the Condominium Property. (c) Lender shall have the rights and privileges which Borrower has as though Lender were in fact the owner of the Condominium Property, which rights and privileges shall include, without limitation, all voting rights accruing to Borrower under the terms of the Condominium Documents. Upon the occurrence and during the continuance of an Event of Default, Lender may vote in place of Borrower and may exercise any and all of said rights. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest to vote as Borrower’s proxy and to act with respect to all of said rights so long as such Event of Default continues hereunder. Notwithstanding anything contained herein to the contrary, nothing contained herein or otherwise shall render Lender liable for any Assessments. (d) The Trustee shall at all times be a financial institution or trust company having a long-term credit rating of not less than “A” or its equivalent by S&P and Xxxxx’x. (e) Borrower shall promptly deliver to Lender a true, complete and correct copy of all notices of default received by Borrower with respect to any obligation or duty of Borrower under the Condominium Documents.

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Construction Phase Fee Contractor’s Construction Phase Fee is the maximum amount payable to Contractor for any cost or profit expectation incurred in the performance of the Work that is not specifically identified as being eligible for reimbursement by Owner elsewhere in this Agreement. References in the UGSC to Contractor’s “overhead” and “profit” mean Contractor’s Construction Phase Fee. The Construction Phase Fee includes, but is not limited to, the following items: 9.1 All profit, profit expectations and costs associated with profit sharing plans such as personnel bonuses, incentives, and rewards; company stock options; or any other like expenses of Contractor.

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