TENANT'S SHARE OF OPERATING COSTS. In consideration of Landlord’s operation, management, maintenance and repair of the Center as provided herein, Tenant shall pay to Landlord, as additional rent, for and with respect to each and every calendar year during the Lease Term (prorated for any partial calendar year), in equal monthly installments due and payable in advance on the first day of each and every month during the Lease Term commencing with the Commencement Date, the OC Charge as calculated pursuant to Section 1.1 herein. Xxxxxx acknowledges and agrees that, because the OC Charge is an amount agreed to by the parties, Tenant shall have no right to audit Landlord’s books and records concerning the OC Charge.
TENANT'S SHARE OF OPERATING COSTS. In addition to the Rent to be paid by Tenant, Tenant shall pay to Landlord its proportionate share (determined by its portion of the total rented area on a per rentable square foot basis) of the amount by which "Operating Costs (as hereinafter defined) for any calendar year or part thereof during the term of this Lease, exceed the Operating Costs for the Base Operating Year specified in Section 1.2 (prorated for less than a full year). Payments by Tenant on account of Tenant's share of such excess shall be made monthly and at the time and in the fashion herein provided for the payment of Rent. The amount so to be paid to Landlord shall be an amount from time to time estimated by Landlord to be sufficient to provide Landlord, in the aggregate, a sum equal to Tenant's share of such excess for each calendar year during the Term of this Lease. Promptly after the end of each calendar year during the Term of this Lease, Landlord shall submit to Tenant an accounting of costs for such calendar year, and Landlord shall certify to the substantial accuracy thereof. If payments theretofore made for such calendar year by Tenant exceed Tenant's share of Operating Costs according to such statement, Landlord shall credit the amount of overpayment against subsequent obligations of Tenant; but, if the Tenant's share of Operating Costs is greater than payments theretofore made on account for such period, Tenant shall make suitable payment to Landlord within ten (10) days after being so advised by Landlord. Landlord shall have the same rights and remedies for the non-payment by Tenant of any amounts due on account of such Operating Costs as Landlord has hereunder for the failure of Tenant to pay the Rent. Payments by the Tenant to the Landlord on account of such Operating Costs shall not be considered as being held in trust, in escrow, or the like, by the Landlord; it being the express intent of the Landlord and the Tenant that the Tenant shall in no event be entitled to receive interest upon, or any payments on account of earnings or profits derived from, such payments by the Tenant to the Landlord.
TENANT'S SHARE OF OPERATING COSTS. 5.1 In addition to Base Rent, Tenant shall pay Tenant's percentage share as specified in paragraph 5.2 (f) of the "Building Operating Costs" (as hereinafter defined), paid or incurred by Landlord in such year in excess of the Building Operating Cost for the Base Year ("Operating Expenses Rent") which shall be the calendar year ending December 31, 1999.
TENANT'S SHARE OF OPERATING COSTS. Paragraph 5 is amended to read:
TENANT'S SHARE OF OPERATING COSTS. If, in any calendar year of the term of this Lease after the Operating Expense Base year, Landlord’s Operating Costs exceed the Operating Expense Base, as it relates to all other charges with the exception of snow removal, which shall be an amount equal to the average of Landlord’s actual snow removal cost over the five (5) year period, ending on December 31, 2009 (the amount of such excess, the “Operating Cost Excess”), Tenant shall after notice as hereinafter provided, pay to Landlord as additional rent, an amount equal to the product of (a) such Operating Cost Excess multiplied by (b) the fraction set forth in the definition of “Tenant’s Proportionate Share” in Section 1.2, (Basic Data), of this Lease.
TENANT'S SHARE OF OPERATING COSTS. In addition to Taxes, Tenant shall pay to Landlord its pro rata share of all utilities and services allocated to or used by the Tenant in its use and occupancy of the Premises, including, as applicable, electricity, water, security and cable (the foregoing expenses collectively referred to herein as “Operating Costs”). The Tenant’s pro rata share of Operating Costs shall be calculated as one (1) divided by the number of cottages receiving utilities and other services from Landlord. Operating Costs shall be due and payable as Additional Rent to Landlord upon receipt of an invoice therefor from Landlord, such payment to be due on June 1 of each Lease Year, or, if Operating Costs have not been ascertained by such date, within thirty (30) days of receipt by Tenant of an invoice from Landlord itemizing such Additional Rent expenses.
TENANT'S 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 Rent Commencement Date and on the first (1st) day of each calendar month thereafter, an amount equal to Tenant’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.
TENANT'S SHARE OF OPERATING COSTS. Tenant shall pay to Landlord, as additional rent, in the manner provided in Section 4.2(d), Tenant's Share of "Building Operating Costs" which shall include the Building's share of "Project Operating Costs" incurred by Landlord in any Lease Year. "Building Operating Costs" means Operating Costs incurred by Landlord in connection with maintaining, managing, operating, repairing and administering the Building, and any Project Operating Costs which are allocated to Landlord with respect to the
TENANT'S SHARE OF OPERATING COSTS. Landlord shall pay, in the first instance, all Operating Costs incurred by Landlord in the efficient maintenance and operation of the Building. For these purposes, “Operating Costs” shall mean, for any calendar year, the sum of all expenses, costs and disbursements of every kind and nature which Landlord shall pay or become obligated to pay because of or in connection with the ownership, management, operation and maintenance of the Building, parking facilities, grounds and land upon which it is situated including but not limited to the following: all management office expenses; all applicable sales and use taxes; expenses incurred for heat, cooling and other utilities; cost of insurance; cost of janitorial and cleaning service trash collection services, pest control and security service; salaries, wages and other personnel costs of engineers, superintendents, watchpersons, and all other employees of the Building; chillers, boilers and/or controls; window cleaning; Building and grounds maintenance; parking lot maintenance; management fees not to exceed 4% of the Gross Rent for the applicable year (excluding taxes and insurance); permits and licenses (except as it relates to improvements to another tenant’s premises within the Building); all maintenance and repair expenses and supplies including replacement of fluorescent light bulbs and ballasts in building standard lighting fixtures; amortization, depreciation and replacement costs, interest and other debt costs with respect to equipment or machinery purchased to replace existing equipment, equipment or capital items purchased which are labor saving or energy conserving devices used in the maintenance and operation of the Building, or equipment, systems or other capital expenditures purchased to comply with the wishes or directives of a governing agency or body; and all other costs and expenses properly incurred in the operation and maintenance of an office building. Operating Costs shall exclude the following: (i) Real Estate taxes as defined in Section 4.4, Electrical Costs as defined in Section 4.5 and Landlord’s personal property taxes (if any); cost of alterations of all rentable premises; (ii) real estate brokers’ lease commissions; (iii) payment of principal and interest on mortgages; cost to Landlord of any work or service performed for any tenant at the cost of such tenant; (iv) capital expenditures except those qualifying for inclusion as listed above; (v) salaries and benefit costs for personnel...
TENANT'S SHARE OF OPERATING COSTS. In the event such determination results in an increase in such operating costs per annum over the Operating Cost Base, Tenant shall pay as additional rent an amount, which shall be equal to that figure obtained by multiplying such increase in operating costs by the Escalation Factor. The procedure for payment of such additional rent shall be as follows:
A. Following the end of each calendar year during the term of this lease, Landlord shall deliver to Tenant a certificate signed by Landlord setting forth:
(a) the increase in operating costs for such calendar year over the Operating Cost Base;
(b) Tenant's share thereof; and
(c) a statement that books and records with respect to operating costs have been maintained in accordance with Section 3.02 of this lease.
B. If such certificate shows an increase in operating costs for the calendar year to which it relates over the Operating Cost Base, Tenant shall pay to Landlord as additional rent within ten (10) days after the date of delivery of such certificate an amount equal to Tenant's share of such increase less any amounts previously paid by Tenant as additional rent on account of such increase. Such payment shall be prorated with respect to any partial calendar year included in the term hereof.
