Actual Operating Cost definition

Actual Operating Cost means the annual actual operating costs as such cost headings are identified in the LOBTA, to include the Head Office Costs and Profit and cost of goods sold, that are incurred by the Contractor [or (without double counting) the Leisure Operator] in providing the Benchmarked Services in relation to the [Facility/ Facilities] [(but excluding Excluded Costs)];
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Actual Operating Cost means and include all expenses and costs (excluding only those items set forth in Section 3.6) which Landlord or Landlord's manager shall pay or become obligated to pay or incur because of, or in connection with the ownership, maintenance, repair, management and operation of the Premises, including but not limited to the "Cost of Energy", "Cost of Services and Utilities", "Cost of Improvements" and "Cost of Taxes".
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Actual Operating Cost means the Operating Cost actually incurred for a calendar year.
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Examples of Actual Operating Cost in a sentence

  • If Tenant's Estimated Operating Cost actually paid by Tenant is less than Tenant's Actual Operating Cost, Tenant shall pay such shortfall to Landlord, as additional rent, within thirty (30) days after receipt of Landlord's statement showing the amount due.

  • If the amount of Tenant's Estimated Operating Cost paid by Tenant for such calendar year exceeds Tenant's Actual Operating Cost for that year, Landlord shall refund such excess to Tenant within thirty (30) days after such determination or Landlord may, at its sole option, apply such excess to any outstanding amounts due Landlord.

  • Within a reasonable time after the end of each calendar year, Landlord shall furnish Tenant with a statement showing the Common Operating Costs actually paid or incurred by Landlord for such year less the Base Operating Expense, if any, and Tenant's Proportionate Share thereof ("Tenant's Actual Operating Cost"), which shall in no event be less than zero dollars ($0).

  • If Tenant fails to give Landlord an Objection Notice within the 60 day period or fails to provide Landlord with a Review Notice within the 90 day period described above, Tenant shall be deemed to have approved Landlord's Cost Statement and shall be barred from raising any claims regarding the Actual Operating Cost for that Lease Year.

  • Within one hundred twenty (120) days after the close of each Lease Year, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Cost Allocable to the Premises during such Lease Year (the "Cost Statement").

  • The portion of the Actual Tax Cost and Actual Operating Cost to be paid by Tenant for the years in which the Term begins and ends will be prorated by multiplying the Actual Tax Cost and Actual Operating Cost amounts by a fraction, the numerator of which is the number of days of that year in the Term and the denominator of which is 365.

  • In addition to the Base Rent provided in Section 2.1 of this Lease, Tenant shall pay to Landlord as "Additional Rent" the Actual Operating Cost Allocable to the Premises.

  • Tenant may, within 90 days after receiving Landlord's Cost Statement, give Landlord written notice ("Review Notice") that Tenant intends to review Landlord's records of Actual Operating Cost for that Lease Year.

  • After the end of each calendar year, including the year in which the Term expires, Landlord will give Tenant a statement of the Actual Tax Cost and Actual Operating Cost for that calendar year.

  • Adjustment for Variation Between Estimated and Actual Operating Cost and Impositions 16 2.08.


More Definitions of Actual Operating Cost

Actual Operating Cost means the Operating Cost (as defined in Section 1(u)) actually incurred for a calendar year.
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Actual Operating Cost means all costs reasonably incurred by Landlord attributable to the maintenance, operation and repair of the Project and the Common Areas therein as determined by standard accounting practices with accruals appropriate to the general practices of the commercial real estate industry, calculated as though the Building were fully complete and fully occupied, including but not limited to (i) premiums for casualty, public liability, rent loss and other insurance which Landlord maintains with respect to the Project; (ii) all out-of-pocket costs incurred in managing the Project (including reasonable office rent or rental value of the management office serving the Project), plus a management fee or charge equal to 4.0% of the amount which for purposes of gross-up would be Landlord's total revenue for the Project (excluding such management fee) if the Building were fully leased at the average rental rate; (iii) recordkeeping, accounting and auditing costs for budgeting and determination of Actual Operating Cost and Actual Tax Cost and any Operating Cost or Tax Cost Adjustment; (iv) all other costs which may be expensed rather than capitalized reasonably incurred by Landlord in owning, maintaining or operating the Project and the Common Areas therein; (v) a reserve for replacement of the fitness equipment in the exercise room in the Project as reasonably determined by Landlord; and (vi) capital expenditures, amortized over the useful life or estimated "pay-back" period, whichever is shorter, reasonably determined by Landlord using reasonable interest charges, for any repair, replacement or improvement to the Project, or purchase of equipment, that is incurred to improve the operating efficiency or reduce the cost of owning, maintaining or operating the Project or required under the Americans with Disabilities Act ("ADA") or otherwise by any governmental authority or insurance carrier. Actual Operating Cost excludes, however, (i) capital expenditures for replacement of more than 25% of the roofing on the Building in any one job, replacement of heating, cooling and ventilation equipment other than heat pumps, replacement of any structural elements of the Building, or other capital expenditures not specifically set out in the preceding sentence; (ii) Actual Tax Cost; (iii) tenant improvements, leasing commissions, and advertising and marketing costs for leasing of space; (iv) ground rent, depreciation, and principal and interest on debt; (v) expenses for which Landlord...
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Actual Operating Cost as used herein with respect to any calendar year of the Term, shall refer to the Operating Cost for such year, as computed pursuant to SECTION 8-(A), the statement of which shall be prepared by an independent certified public accountant.
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Related to Actual Operating Cost

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Vice President The Royce Fund 000 Xxxxx Xxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement - Royce 100 Fund (Institutional Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated June 30, 2003 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Royce Heritage Fund (the “Series”) and Royce & Associates, LLC (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning May 1, 2010 and ending April 30, 2011 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Institutional Class of shares (the “Class”) are not more than 1.04% of the Class’ average net assets for the Period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Controllable Operating Expenses means all Operating Expenses except property taxes and assessments, capital expenditures that are reasonably required, costs for repairs and maintenance (excluding preventative maintenance), utility charges, insurance charges, costs of services provided under a union contract, payments under covenants, conditions and restrictions or to an owners’ association and costs associated with repairs due to casualty, vandalism or other cause outside of Landlord’s reasonable control.

  • Operating Costs means the reasonable incremental expenses incurred by the Recipient on account of Project implementation, including costs related to audits, office equipment and supplies, vehicle operation and maintenance, shipping costs, office rentals, communication and insurance costs, office administration costs, bank charges, utilities, transport costs, travel, per diem and supervision costs, and salaries of contracted employees, but excluding salaries of officials of the Recipient’s civil service.

  • Annual Operating Budget as defined in Section 6.2(c).

  • Annual Operating Plan has the meaning ascribed to it in Section 15.3(b)(i).

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Approved Operating Expenses means for each Budget Year during the Term the following operating expenses reasonably and actually incurred from the operation and maintenance of Property to the extent that such operating expenses are consistent with the Annual Budget and the Annual Audited Financial Statements:

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Operating Expenditures means all Partnership Group expenditures, including, but not limited to, taxes, reimbursements of the General Partner, repayment of Working Capital Borrowings, debt service payments and capital expenditures, subject to the following:

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Base Operating Costs means Operating Costs for the calendar year specified as the Base Year in the Basic Lease Information (excluding therefrom, however, any Operating Costs of a nature that would not ordinarily be incurred on an annual, recurring basis).

  • Controllable Expenses means all expenses, other than Uncontrollable Expenses, incurred by the Company or any Subsidiary of the Company with respect to the Property.

  • Construction Budget means the cost of acquisition, installation, testing, constructing and developing any Property as determined by the Construction Agent in its reasonable, good faith judgment.

  • Property EBITDA means for any property owned by Ventas, Inc. or any of its Subsidiaries as of the date of determination, for any period of time, the net income (loss) derived from such property for such period, before deductions for (without duplication):

  • Operating Revenue means amounts accrued or charge to customers, cli- ents, and tenants, for the sale of prod- ucts manufactured or purchased for re- sale, for services, and for rentals of property held primarily for leasing to others. It includes both reimbursable costs and fees under cost-type con- tracts and percentage-of-completion sales accruals except that it includesonly the fee for management contracts under which the contractor acts essen- tially as an agent of the Government in the erection or operation of Govern- ment-owned facilities. It excludes inci- dental interest, dividends, royalty, and rental income, and proceeds from the sale of assets used in the business.

  • Total Fund Operating Expenses with respect to a Fund is defined to include all expenses necessary or appropriate for the operation of the Fund including the Adviser’s investment advisory or management fee under the Advisory Agreement and other expenses described in the Advisory Agreement that the Fund is responsible for and have not been assumed by the Adviser, but excludes front-end or contingent deferred loads, taxes, leverage expenses, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, unusual or infrequently occurring expenses (such as litigation), acquired fund fees and expenses, and dividend expenses, if any.

  • Operating Revenues means, for any, period, the gross revenues arising from the ownership and operation of the Properties during such period, including proceeds of any business interruption or rental loss insurance and amounts released from reserves, but specifically excluding Capital Proceeds, Capital Contributions and proceeds of Indebtedness.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property.

  • Project Revenue means all rents, fees, sales, and payments

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following: (i) The operation, repair and maintenance, in neat, clean, good order and condition, of the following: