Actual Operating Cost definition

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.

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...

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).
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").
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.
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.
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.
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.
Adjustment for Variation Between Estimated and Actual Operating Cost and Impositions 16 2.08.
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 and election, apply such excess to any outstanding amounts due from Tenant to Landlord.

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.

Actual Operating Cost. 168 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 Operator in providing the Benchmarked Services in relation to the [Facility/ Facilities] [(but excluding Excluded Costs)]

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.