Property Maintenance Costs. The term “Property Maintenance Costs” means all costs and expenses (except Landlord’s Insurance Costs and Real Property Taxes) of every kind and nature which Landlord shall pay or become obligated to pay because of or in connection with the ownership, management, maintenance, repair, operation or preservation of the Project, the Project Buildings or the Outside Areas now and in subsequent years, including without limitation, (a) professional management fees and expenses, (b) the costs incurred by Landlord in the making of any Alterations as set forth in Section 6.4, (c) the costs of complying with governmental regulations governing Hazardous Materials, subject to Section 4.12.7, (d) such other costs as may be paid or incurred with respect to operating, maintaining and preserving the Project, the Project Buildings or the Outside Areas, such as painting, cleaning, repairing, replacing, and resurfacing the exterior of the Project Buildings (including roofs); repairing, replacing, and resurfacing paved areas; repairing structural parts of the Project Buildings; cleaning, maintaining, restoring and/or replacing the interior of the Premises; maintaining, repairing, installing or replacing Building Systems; providing utilities to the Outside Areas; maintaining, repairing, replacing or installing lighting fixtures, directional or other signs and signals, irrigation or drainage systems, trees, and shrubs; maintaining all landscaped areas; (e) the rental or acquisition costs of supplies, tools, materials and equipment used in connection with the operation, maintenance, management and repair of the Project; and (f) payments under the REA or any other agreement relating to the sharing of costs for the Project. Any Property Maintenance Costs that constitute capital expenditures as determined in accordance with sound real estate accounting and management principles consistent with those generally utilized in Comparable Buildings (collectively, “Included Capital Items”) shall be amortized by Landlord, together with an amount equal to interest at eight percent (8%) per annum, over the estimated useful life of such item, and such amortized costs shall be included in Property Maintenance Costs only for that portion of the useful life of the Included Capital Item which falls within the Term, unless the cost of the Included Capital Item is less than Twenty Five Thousand Dollars ($25,000) in which case it shall be expensed in the year in which it was incurred. Property Mainten...
Property Maintenance Costs. The term “Property Maintenance Costs” shall mean (to the extent applicable to any portion of the Lease Term, regardless of when the same are incurred):
Property Maintenance Costs. The term "Property Maintenance Costs" shall mean Tenant's Expense Share of all costs and expenses (except Landlord's Insurance Costs and Real Property Taxes) paid or incurred by Landlord in protecting, operating, maintaining, repairing and preserving the Property and all parts thereof, including without limitation, (i) market rate professional management fees of two percent (2%) of all base rent collected from tenants of the Property, (ii) the amortizing portion of any costs incurred by Landlord in the making of any modifications, alterations or improvements required by any governmental authority as set forth in Article 6, which are so amortized during the Lease Term, and (iii) such other costs as may be paid or incurred with respect to operating, maintaining, and preserving the Property, including, but limited to, repairing or replacing, when necessary, electrical, plumbing, heating, ventilating and air conditioning systems serving the Building, and repairing and resurfacing paved areas. "Property Maintenance Costs" shall not include the costs of repairing and/or replacing the foundation, the roof structure and the load-bearing and exterior walls of the Building. If any of the Property Maintenance Costs are partly based upon property unrelated to the Property (e.g., another portion of the Project), then only that part of Property Maintenance Costs that is fairly allocable to the Property shall be included in the definition of Property Maintenance Costs hereunder.
Property Maintenance Costs. The term “Property Maintenance Costs” shall mean Tenant’s Proportionate Share of all costs and expenses (except Landlord’s Insurance Costs and Real Property Taxes) paid or incurred by Landlord in protecting, operating, maintaining, repairing and preserving the Leased Premises and all parts thereof, including without limitation, (i) a market rate professional management fee not to exceed four percent (4%) of Base Monthly Rent if Tenant is not self-managing the Leased Premises, (ii) the amortizing portion of any costs incurred by Landlord in the making of any modifications, alterations or improvements required by any governmental authority as set forth in Article 6, which are so amortized during the Lease Term, (iii) the amortizing portion of any costs incurred by Landlord pursuant to the last sentence of Paragraph 5.1(a), and (iv)such other reasonable costs as may be paid or incurred with respect to operating, maintaining, and preserving the Leased Premises, except those items specifically set forth in Paragraph 5.1(b) to be performed at Landlord’s sole cost and expense. To the extent that any Property Maintenance Costs are incurred for items deemed to be capital improvements in accordance with generally accepted accounting principles, then such costs shall be amortized by Landlord over the useful life of such items, and the monthly amortized cost of items as so amortized shall be considered a Property Maintenance Cost.
Property Maintenance Costs. The term "Property Maintenance Costs" shall mean Tenant's Project Share of all costs and expenses (except Landlord's Insurance Costs and Real Property Taxes) paid or incurred by Landlord in protecting, operating, maintaining, repairing and preserving the Property and all parts thereof, including without limitation, (i) market rate professional management fees, (ii) the amortizing portion of any costs incurred by Landlord in the making of any modifications, alterations or improvements required by any governmental authority as set forth in Paragraph 6.3, which are so amortized during the Lease Term, and (iii) such other costs as may be paid or incurred with respect to operating, maintaining, and preserving the Property, such as repairing and resurfacing the exterior surfaces of the Building (including roofs), repairing and resurfacing paved areas, and repairing and replacing, when necessary, electrical, plumbing, heating, ventilating and air conditioning systems serving the Building. With respect to any capital improvement made to electrical, plumbing, heating, ventilating and air conditioning systems serving the Building by Landlord after the date of this Lease which under generally accepted accounting principles ("GAAP") should be capitalized and amortized rather than expensed, Landlord shall capitalize any such improvement and amortize it over its useful life (which shall in no event exceed the useful life for such improvement set forth in any schedule or listing of useful lives, if any, specified by GAAP or the Financial Accounting Standards Board). In such event, such amortizing portion of the capital improvement shall, during the Lease Term, constitute a Property Maintenance Cost.
Property Maintenance Costs. The term "Property Maintenance Costs" shall mean all expenses, costs and amounts of every kind and nature paid or incurred by Landlord during any Expense Year because of or in connection with the ownership, management, maintenance, repair, replacement, restoration or operation of the Property (except Landlord's Insurance Costs, Landlord's Utilities Costs, and Real Property Taxes) including, without limitation, (i) the cost of operating, maintaining, repairing, renovating and managing the utility systems, mechanical systems, sanitary and storm drainage systems, and elevator systems in or serving the Building, and the cost of supplies and equipment and maintenance and service contracts in connection therewith; (ii) the cost of licenses, certificates, permits and inspections, and the cost of contesting the validity or applicability of any governmental enactments enacted on or after the Lease Commencement Date which may affect Property Operating Expenses, and the costs incurred in connection with implementation and operation (by Landlord or any owners' or common area association(s) formed for the Property) of any transportation system management program or similar program; (iii) the cost of operating, repairing, maintaining and replacing the Systems and Equipment or any part thereof; (iv) the cost of landscaping, relamping, supplies, tools, equipment and materials, and all fees, charges and other costs (including consulting fees, legal fees and accounting fees) incurred in connection with the management, operation, repair and maintenance of the Property; (v) the cost of parking area repair, restoration, and maintenance; (vi) amounts due under any equipment rental agreements pertaining to the Property; (vii) wages, salaries and other compensation and benefits of all Persons engaged in the operation, management, maintenance or security of the Property, but as to rearrangement personnel not above the level of Building Manager, and employer's Social Security taxes, unemployment taxes or insurance, and any other taxes which may be levied on such wages, salaries, compensation and benefits; provided, however, if such employees provide service to the Property on less than a full time basis, such salaries, compensation and benefits (and taxes and insurance thereon) shall be prorated based upon the time such employees are engaged in providing services to the Property; (viii) payments under any easement, license, operating agreement, declaration, restrictive covenant, un...
Property Maintenance Costs. The term “Property Maintenance Costs” shall mean all costs and expenses (except Landlord’s Insurance Costs and Real Property Taxes) paid or incurred by Landlord in protecting, operating, maintaining, repairing and preserving the Property and all parts thereof, including without limitation, (i) professional management fees (equal to five percent of the annualized Base Monthly Rent), (ii) the amortizing portion of any costs incurred by Landlord in the making of any modifications, alterations or improvements as set forth in Article 6, which are so amortized during the Lease Term, (iii) costs of complying with governmental regulations governing Tenant’s use of Hazardous Materials, and Landlord’s costs of monitoring Tenant’s use of Hazardous Materials including fees charged by Landlord’s consultants to periodically inspect the Premises and the Property, and (iv) such other costs as may be paid or incurred with respect to operating, maintaining and preserving the Property, such as repairing, replacing, and resurfacing the exterior surfaces of the buildings (including roofs), repairing, replacing, and resurfacing paved areas, repairing structural parts of the buildings, cleaning, maintaining, restoring and/or replacing the interior of the Leased Premises both during the term of the Lease and upon its termination, and maintaining, repairing, installing or replacing, electrical, plumbing, sewer, drainage, heating, ventilating and air conditioning systems serving the buildings, providing utilities to the common areas, maintenance, repair, replacement or installation of lighting fixtures, directional or other signs and signals, irrigation or drainage systems, trees, shrubs, materials, maintenance of all landscaped areas, and depreciation and financing costs on maintenance and operating machinery and equipment (if owned) and rental paid for such machinery and equipment (if leased). Landlord may include as a Property Maintenance Cost a reserve for the cost to maintain, repair, and replace building and property components including but not limited to the roof, HVAC, electrical, and plumbing equipment, the parking lot, the exterior surfaces of the building, and interior components which are subject to wear. Any such reserve shall be reasonably established by Landlord to amortize the costs of maintenance, repairs, and replacements over the practical useful life of each component.
Property Maintenance Costs. The term “Property Maintenance Costs” shall mean Tenant’s Expense Share of all costs and expenses (except Landlord’s Insurance Costs and Real Property Taxes) paid or incurred by Landlord in protecting, operating, maintaining, repairing and preserving the Property and all parts thereof (without in any way implying that Landlord has any such obligations). Such percentage is currently 100%. In the event the rentable square footage of the Leased Premises or the Building is changed, the foregoing deemed Tenant’s Expense Share shall be recalculated so that the aggregate deemed Tenant’s Expense Share of all tenants in the Building shall equal 100%. Landlord agrees that Tenant’s responsibility for property management fees incurred by Landlord shall not exceed two percent (2%) of the Rent.
Property Maintenance Costs. The term "Property Maintenance Costs" shall mean all costs and expenses (except Landlord's Insurance Costs and Real Property Taxes) paid or incurred by Landlord in protecting, operating, maintaining, repairing and preserving the Property and all parts thereof, including without limitation, (i) property management fees of three percent (3%) of all Base Monthly Rent and Additional Rent from the Property, (ii) the amortizing portion of any costs incurred by Landlord in the making of any modification, alteration or improvement required by any governmental authority as set forth in Article 6, amortized over the useful life of such modification, alteration or improvement, which are so amortized during the Lease Term, and (iii) such other costs as may be paid or incurred with respect to operating, maintaining, and preserving the Property, such as repairing and resurfacing the exterior surfaces of the Building (other than the roof structure, but including the roof membrane), repairing and resurfacing paved areas, and repairing and replacing, when necessary, electrical, plumbing, heating, ventilating and air conditioning systems serving the Building, providing trash enclosures, trash bins and trash service; provided, however, the cost of any capital improvement or repair (as defined in accordance with generally accepted accounting principles) shall be amortized over the useful life of such improvement or repair and Tenant shall be responsible for the amortizing portion of such cost during the Lease Term. "Property Maintenance Costs" shall not include the following (except to the extent any of the following costs are incurred by Landlord as a result of Tenant's failure to perform its obligations hereunder or are otherwise caused by Tenant): Landlord's debt service on any financing related to the Building or the Property; franchise, excess profits or revenue tax, excise tax or inheritance tax, gift tax, gains tax, franchise tax, corporation tax, capital levy transfer, estate, succession, income taxes payable by Landlord; salaries, benefits and related costs of Landlord's off-site administrative personnel (other than the management fee); costs of utility usage for utility services separately metered in the name of Tenant; the cost of any work (including the cost of permits, licenses and inspections) performed (such as preparing space for occupancy, including painting and decorating) or services provided (such as separately metered electricity) for Tenant at Tenant's c...
Property Maintenance Costs. The term “
