THE CAP. Notwithstanding any provision of this Lease to the contrary, Tenant shall not be obligated to pay for any annual increases in Operating Expenses per rentable sq. ft. for the Premises greater than four (4%) percent per year, accumulative, of the Operating Expenses per rentable sq. ft. for the Premises for the immediately preceding calendar year (the "Cap"). Such increase, if any, shall be paid as Operating Expenses Escalation during each calendar year, after the Base Year ('96). As an example, if the Base Year ('96) adjusted Operating Expenses for Occupied rentable sq. ft., as calculated under subsection 7(b)(i) herein, was $3.50 per Occupied rentable sq. ft. (an increase of $.20 per sq. ft. from 1996 contracted rate for Occupied Premises), then the following could apply for the 1997 calendar year Operating Expenses Escalation provision: Contracted Operating Expenses per Occupied Rentable sq. ft. $ 3.30 X 4.% Cap, Accumulative .04 ------ OPERATING EXPENSES ESCALATION ALLOWED FOR 1997 $ .132 As indicated, only $.132 would be allowed per sq. ft. as Operating Expenses Escalation for Occupied Premises for the 1997 calendar year. The difference of $.068 (.20 - .132) per sq. ft. could not be recovered by Landlord in 1997 calendar year, but the Cap described herein is accumulative resulting in the $.068 difference potentially being recovered in later years of the Lease.
THE CAP. In respect of the RMO Agreement, the Directors propose a cap for the period ending 31 December 2010 of RMB600,000 (equivalent to approximately HK$682,400). The proposed cap was determined with reference to the monthly fee payable under the RMO Agreement.
THE CAP. The historical amounts of the transactions between members of the Group and G Foot for each of the three years ended 31 December 2018 were approximately RMB8.3 million, RMB17.2 million and RMB21.0 million. The proposed cap for the transactions under the G Foot Master Purchase Agreements for the three months ending 31 March 2019 is RMB7.6 million. In arriving at the proposed cap, the Directors have taken into account various factors including the historical transaction amounts between the Group and G Foot, historical growth in the retail business of the Group and expected sales of the Group.
THE CAP. 24.15.2.1 The total amount to be funded for incentives in each year of the agreement shall be no more than $1,000,038.00. The maximum incentive will be 30% of the salary at TG Step 20. The Superintendent and Association may agree to expend an amount over this limit in a particular year. The cost in any year of previous awarded stipends shall be included under the CAP. (2005)
