Share of Operating Costs. On the first day of each month, Tenant shall pay in advance one-twelfth (1/12th) of the amount which Landlord estimates, based upon a detailed budget to be given to Tenant in advance, as the Tenant’s Share of Operating Costs for the calendar Year. Within ninety (90) days after the end of each calendar year of the Term, or as soon thereafter as practicable, Landlord shall furnish to Tenant a statement of the actual amount of Tenant’s Share of Operating Costs. If the amount paid by Tenant during such calendar year is less than Tenant’s Share of Operating Costs as shown by Landlord’s statement, then Tenant shall pay the difference within twenty (20) days after the date of Landlord’s statement; if the amount paid by Tenant during such calendar year is more than Tenant’s Share of Operating Costs as shown by such statement, then Tenant shall receive a credit on future payments of Operating Costs hereunder for the amount of such excess. If at any time it appears to Landlord that Operating Costs for any calendar year will exceed Landlord’s estimate thereof, then Landlord shall have the right by written notice to Tenant to revise the estimated monthly amount payable by Tenant hereunder and subsequent payments of Tenant’s estimated Share of Operating Costs hereunder shall be increased based upon such revised statement; provided, however, there shall be no more than one revision during each calendar year, except for the 2003 calendar year, where there may be two (2) revisions. For the years in which the Term commences and expires, Operating Costs shall be prorated based on the number of days of the calendar year the Term is in effect. Tenant shall have the right to audit, at Tenant’s cost and expense, not more than once each calendar year, the books and records of Landlord and/or its representatives relating to the Operating Costs. Such audit shall be at the offices of Landlord’s accountant or at such other location as designated by Landlord.
Share of Operating Costs. The Premises are separately metered for electricity. Tenant shall obtain electricity directly from the utility company and pay the utility company directly for such electricity
Share of Operating Costs. If Tenant's Share of the actual Operating Costs for any Lease Year is less than the amount Tenant paid to Landlord as the estimate of Tenant's Share of Operating Costs for such Lease Year, such excess amount shall be applied against the installment of Additional Rent next coming due until the same has been fully applied.
Share of Operating Costs. If Tenant’s Final Statement indicates that the actual amount of Tenant’s Proportionate Share of those Operating Costs which exceed Landlord’s Share of Operating Costs for such calendar year exceeded the estimated amount paid by Tenant, Tenant shall pay the amount of such difference to Landlord within fifteen (15) days after receipt of the Final Statement. Notwithstanding any provision to the contrary, the portion Tenant’s Proportionate Share of those Operating Costs which exceed Landlord’s Share of Operating Costs that is attributable to Controllable Operating Costs shall increase no more than four percent (4%) annually. Any overpayment of Tenant’s actual Proportionate Share of those Operating Costs which exceed Landlord’s Share of Operating Costs shall be credited toward future installments of Rent due for the months immediately following the furnishing of such estimate or, if no such installment is due, Landlord shall refund said amount to Tenant. Landlord’s failure to adhere strictly to the deadlines for providing the notices required by this Section shall in no way relieve Tenant of Tenant’s obligation to pay Tenant’s Proportionate Share of those Operating Costs which exceed Landlord’s Share of Operating Cots.
Share of Operating Costs. If Tenant's Share of the actual Operating Costs for any Lease Year is less than the amount Tenant paid to Landlord as the 4 <PAGE> estimate of Tenant's Share of Operating Costs for such Lease Year, such excess amount shall be applied against the installment of Additional Rent next coming due until the same has been fully applied. (c) "Operating Costs" shall mean all costs paid by Landlord or its representatives in connection with the ownership, management, maintenance, operation, leasing, insuring, repairing, redecorating, cleaning and securing of the Project, as determined by Landlord to be necessary or appropriate and properly allocable to the Project, including, without limitation, all of the following costs: (i) All wages, salaries, commissions and related expenses of all on- site and off-site agents, employees and contractors engaged in the management, operation, maintenance, repair, redecoration, cleaning, and security of the Project, plus the costs of all management, maintenance, and security offices in the Project. (ii) All supplies and materials used and labor charges incurred in the management, operation, maintenance, repair, redecoration, cleaning and security of the Project. (iii) All equipment purchased or leased for the performance of Landlord's obligations hereunder. (iv) All management, maintenance, cleaning, security, advertising, promotional and other service agreements for the Project and the equipment therein, including, without limitation, alarm service, security service, window cleaning, and elevator and escalator maintenance. (v) All accounting, legal and engineering fees and expenses, including, without limitation, the cost of audits by certified public accountants. (vi) All insurance premiums, including, without limitation, fire, casualty, extended coverage, public liability, rent abatement, boiler, and Worker's Compensation insurance applicable to the Project, Landlord's employees and Landlord's personal property used in connection therewith. (vii) All redecorating (including painting, wall papering and floor covering), maintaining and repairing of the Project, structural or non-structural, including, without limitation, the mechanical, electrical, heating, ventilating and air conditioning equipment, landscape maintenance and the replacement of trees and shrubbery. (viii) All removing of trash, rubbish, garbage and other refuse from the Project, as well as removal of ice and snow from the sidewalks, driveways and parking lots. (ix...
Share of Operating Costs. (b) The Tenant shall pay to the Landlord, when due, all Taxes in respect of the Premises, including any Taxes charged in respect of any Common Areas. In addition, the Tenant shall pay its Proportionate Share of Taxes, if any, separately charged against Common Areas. The Tenant's obligation to pay Taxes in respect of the Premises shall be determined on the basis of a separate xxxx, if available. If the relevant taxing authority does not issue a separate xxxx for Taxes in connection with the Premises, then the Tenant's obligation in respect of Taxes shall be computed by applying the relevant tax rate to a separate assessment of the Premises, if any. If there is neither a separate xxxx for Taxes for the Premises nor a separate assessment of the Premises, then Taxes charged in respect of the Premises shall be determined by the Landlord, acting reasonably, on the basis of then current established principles of assessment used by the relevant assessing authorities.
Share of Operating Costs. For purposes of determining Tenant’s Share of Operating Costs, for any calendar year during which the Building is less than 95% occupied, the Operating Costs shall be equitably adjusted, on an item-by-item basis, for such calendar year to reflect the amount which, in Landlord’s good faith reasonable judgment exercised on a consistent basis from year to year, the Operating Costs would have been if the Building had been 95% occupied during the entire calendar year. Tenant’s Share of Operating Costs shall be estimated in good faith by Landlord at the end of each calendar year based on the most recent cost data available to Landlord, and shall be payable in equal estimated monthly installments on the first day of each calendar month during the Lease Term, subject to readjustment from time to time as determined by Landlord and also when actual Operating Costs are determined. After a readjustment, any shortage shall be due and payable by Tenant within 30 days of demand by Landlord and any excess shall, unless an Event of Default has occurred, be credited against future Additional Rent obligations, or refunded promptly if the Lease Term has ended and Tenant has no further obligations to Landlord. Landlord shall provide Tenant with reasonable supporting documentation for the Operating Costs for the prior calendar year within six months after the end of the calendar year to which such Operating Costs relate.
Share of Operating Costs. Landlord shall make a good faith estimate of Xxxxxx’s Share of Operating Costs for any fiscal year or part thereof during the Term and notify Tenant of such estimate no later than thirty (30) days prior to each fiscal year, and Tenant shall pay to Landlord, on the Additional Rent Commencement Date and on the first (1st) day of each calendar month thereafter, an amount equal to Xxxxxx’s Share of Operating Costs for such fiscal year and/or part thereof divided by the number of months therein. Upon at least thirty (30) days’ notice, Landlord may estimate and re-estimate Xxxxxx’s Share of Operating Costs and deliver a copy of the estimate or re-estimate to Tenant, provided that no more than one re-estimate may be made in any given fiscal year. Thereafter, the monthly installments of Tenant’s Share of Operating Costs shall be appropriately adjusted in accordance with the estimations so that, by the end of the fiscal year in question, Tenant shall have paid all of Tenant’s Share of Operating Costs as estimated by Xxxxxxxx. Any amounts paid based on such an estimate shall be subject to reconciliation as herein provided when actual Operating Costs are available for each fiscal year.
Share of Operating Costs. The amounts deposited into escrow and actually used to acquire Leases shall be the basis for each Party's ownership interest in the Leases. Subject to Section 6(b), below, no such amounts shall be credited or used for operations. Notwithstanding the actual dates of signing and/or recording the cross assignments pursuant to Section 5, above, each Party shall be responsible for its/his respective share of the cost of operations in accordance with the terms of the Operating Agreement attached hereto as Exhibit A (the "Operating Agreement"), with such share based on each Party's respective ownership interest at the time such cost is incurred. The cost of Dolphin's preparation of Title Opinions shall be included in such cost of operation.
Share of Operating Costs. The Term of the Lease shall remain unchanged. Tenant shall have five (5) business days after receipt of any such notice to elect to lease all such space on the terms of this Lease with the Rent as set forth above. If Tenant rejects any such offer, or fails to respond to any such offer within said period, Landlord shall be free to lease the offered space to a third party. If Tenant accepts any such offer, Landlord and Tenant shall execute an amendment to the Lease adding the additional space to the Premises, increasing the Rent based upon the then applicable rental rate per square foot under the Lease, and adding three (3) parking spaces per rentable square foot of the additional space. The space shall be delivered “as is”. Tenant shall be responsible for any tenant improvements which it may desire to the additional space, at its expense. All such improvements shall be subject to the prior review and approval of Landlord. In the event Tenant leases such space, Tenant’s obligation to pay Rent on such space shall commence upon the date which is the earlier to occur of ninety (90) days after the date Landlord delivers such space to Tenant or the date Tenant first opens for business in such space.
