Tenant’s Percentage Share of Operating Expenses Clause Samples
The Tenant’s Percentage Share of Operating Expenses clause defines the proportion of a property's operating costs that the tenant is responsible for paying. This percentage is typically calculated based on the tenant’s leased square footage relative to the total leasable area of the property. For example, if a tenant occupies 10% of a building, they would generally be responsible for 10% of the building’s operating expenses, such as maintenance, utilities, and property management fees. The core function of this clause is to fairly allocate shared property expenses among multiple tenants, ensuring that each pays a reasonable share based on their occupancy.
Tenant’s Percentage Share of Operating Expenses. As of the Expansion Area V Effective Date, Section 1.8 of the Original Lease is amended as follows: Tenant’s Percentage Share of Operating Expenses less Expansion Area IV: 65.64 % Tenant’s Percentage Share of Operating Expenses for Expansion Area IV: 4.53 % Landlord and Tenant hereby stipulate and agree for all purposes under this Lease, the square footage of the Premises on November 1, 2003 shall be Seventy-four Thousand Four Hundred Thirty-nine (74,439) rentable square feet. The Lease (including without limitation, Section 1.3 and 1.8 of the Original Lease as amended) are hereby amended accordingly.
Tenant’s Percentage Share of Operating Expenses. In addition to the Base Rent, Tenant, as additional consideration for this Lease, agrees to pay to Landlord Tenant's Percentage Share of Operating Expenses (defined in Section 3.04 hereof) annualized for each calendar year during the Term. On or before the Commencement Date and thereafter on or before the first day of each calendar year of the Term, Landlord shall provide to Tenant the Estimated Operating Expense (defined in Section 3.03 hereof) for the upcoming calendar year. Tenant shall pay in advance on the first day of each calendar month during the Term, installments equal to one-twelfth (1/12) of Tenant's Percentage Share of Estimated Operating Expenses annualized for each calendar year. Within one hundred twenty (120) days after the end of each calendar year during the Term, Landlord shall furnish to Tenant a statement certified by Landlord of the Actual Operating Expenses for the immediately preceding calendar year. If Tenant's Percentage Share of Estimated Operating Expenses paid to Landlord during the previous calendar year exceeds Tenant's Percentage Share of Actual Operating Expenses for such year, then Landlord shall refund the difference to Tenant at the time Landlord furnishes the statement of the Actual Operating Expense. Otherwise, within fifteen (15) days after Landlord furnishes such statement to Tenant, Tenant shall make a lump sum payment to Landlord equal to the positive difference between Tenant's Percentage Share of the Actual Operating Expense for the preceding calendar year over Tenant's Percentage Share of the Estimated Operating Expense paid by Tenant for the preceding calendar year. As used in this Lease the term "Rent" shall refer collectively to the Base Rent and Tenant's Percentage Share of Estimated Operating Expenses. If the Commencement Date is on a day other than the first day of the month, then Tenant shall be required to pay only a pro-rata portion of the installment of Rent due for such month. Landlord will cause adequate books and records to be maintained to permit Tenant to verify computations of Operating Expenses and other amounts relevant to Tenants obligations under this Lease; provided, Landlord shall not be required to maintain any books and records concerning any payment due hereunder for more than 2 years after such payment is due. Further, Landlord shall permit Tenant or Tenant's representative to audit such books and records during normal business hours and shall assist in any way reasonably required for ...
Tenant’s Percentage Share of Operating Expenses. As of the Expansion Area II Effective Date, Section 1.8 of the Original Lease is amended as follows: Tenant’s Percentage Share of Operating Expenses: 57.90%
Tenant’s Percentage Share of Operating Expenses forty-nine and sixty-seven one hundredths percent (49.67%) with respect to the Building and eight and seven one hundredths percent (8.07%) with respect to the Project generally and not specifically allocable to any other building located on the Land (Paragraph 12). As an illustrative example of the foregoing, Landlord’s casualty and commercial general liability insurance premiums are allocated on a Project basis and not on a per Building basis and therefore Tenant’s percentage share of such insurance premiums and other Operating Costs allocated on a Project basis would be 8.07% of such Operating Costs. Ad valorem real property taxes and assessments levied or assessed against the Land (as defined in Section 2.1) and the buildings and improvements constructed thereon, including, without limitation, the Building, similarly are allocated on a Project basis and not on a per building basis.
Tenant’s Percentage Share of Operating Expenses. Tenant’s Percentage Share shall be adjusted upon the final determination of the Rentable Area of the Premises to equal a fraction, the numerator of which is the Rentable Area of the Premises and the denominator is the Rentable Area of the Building all as determined by Landlord’s space planner in accordance with the BOMA Standard.
Tenant’s Percentage Share of Operating Expenses of the Lease is amended to provide that in no event shall there be included in the Operating Expenses allocable to Tenant the items list in Exhibit G hereto.
Tenant’s Percentage Share of Operating Expenses. In addition to the Base Rent, Tenant, as additional consideration for this Lease, agrees to pay to Landlord Tenant's Percentage Share (defined in Section 3.03 hereof) of Operating Expenses (defined in Section 3.04 hereof) annualized for each calendar year during the Term, which exceeds $7.50 per rentable square foot per year ("Expense Stop"). On or before the Commencement Date and thereafter on or before the first day of each calendar year of the Term, Landlord shall provide to Tenant the Estimated Operating Expense (defined in Section 3.03 hereof) for the upcoming calendar year. Tenant shall pay in advance on the first day of each calendar month during the Term, installments equal to one-twelfth (1/12) of Tenant's Percentage Share of Estimated Operating Expenses annualized for each calendar year which exceeds the Expense Stop. Within one hundred fifty (150) days after the end of each calendar year during the Term, Landlord shall furnish to Tenant a statement certified by Landlord of the Actual Operating Expenses for the immediately preceding calendar year. If Tenant's Percentage Share of Estimated Operating Expenses which exceeds the Expense Stop paid to Landlord during the previous calendar year exceeds Tenant's Percentage Share of Actual Operating Expense which exceeds the Expense Stop
Tenant’s Percentage Share of Operating Expenses. Landlord and Tenant hereby stipulate and agree that for all purposes under this Lease, Tenant’s Percentage of Operating Expenses for the Extended Term shall be Fifty-seven Point Ninety Percent (57.90%). Landlord and Tenant hereby stipulate and agree for all purposes under this Lease, the square footage of the Premises shall be Sixty-one Thousand Four Hundred Nineteen (61,419) rentable square feet, and the square footage of the Building shall be One Hundred Six Thousand Eighty-four (106,084) rentable square feet. Effective March 1, 2002, Suite 605 will be released from the Lease. Landlord and Tenant hereby stipulate and agree that for all purposes under this Lease, Tenant’s Percentage of Operating Expenses beginning March 1, 2002 shall be Fifty-five Point Fifty-eight Percent (55.58%). Landlord and Tenant hereby stipulate and agree for all purposes under this Lease, the square footage of the Premises on March 1, 2002 shall be Fifty-Eight Thousand Nine Hundred Fifty-eight (58,958) rentable square feet. The Lease (including without limitation, Section 1.3 and 1.8 of the Original Lease as amended) are hereby amended accordingly.
Tenant’s Percentage Share of Operating Expenses. Operating Expenses shall be determined and calculated on a calendar year basis. If Tenant’s Percentage Share of Operating Expenses paid or incurred by Landlord for any calendar year during the Term, exceeds Tenant’s Annual Operating Expense Allowance, then Tenant shall pay such excess as Additional Rent in the manner specified in subparagraphs 3.2.1.2, 3.2.1.3 and 3.
Tenant’s Percentage Share of Operating Expenses. As of the Expansion Area III Effective Date, Section 1.8 of the Original Lease is amended as follows: Tenant’s Percentage Share of Operating Expenses: 60.41% Effective March 1, 2002, Suite 605 will be released from the Lease. Landlord and Tenant hereby stipulate and agree that for all purposes under this Lease, Tenant’s Percentage of Operating Expenses beginning March 1, 2002 shall be Fifty-eight Point Zero Nine Percent (58.09%). Landlord and Tenant hereby stipulate and agree for all purposes under this Lease, the square footage of the Premises on March 1, 2002 shall be Sixty-one Thousand Six Hundred Nineteen (61,619) rentable square feet. The Lease (including without limitation, Section 1.3 and 1.8 of the Original Lease as amended) are hereby amended accordingly.