Actual Operating Expense Increase definition

Actual Operating Expense Increase means the amount of the increase in Common Area Expenses in a particular calendar year over Common Area

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Actual Operating Expense Increase shall equal the positive difference of the actual Operating Expenses for the applicable calendar year less the Base Operating Expense. Tenant may be billed for Tenant's Pro Rata Share of the Estimated Operating Expense Increase after the expiration or termination of this Lease or termination of Tenant's right to possession of the Premises, and Tenant's obligation to pay such sums shall survive the expiration or termination of this Lease or termination of Tenant's right to possession of the Premises. Notwithstanding any provision contained herein to the contrary, if less than ninety-five percent (95%) of the total square feet of net rentable area of the Building is fully occupied by tenant(s) during the 1997 calendar year or Landlord is not supplying services to at least ninety-five percent (95%) of the total square feet of net rentable area of the Building at any time during the 1997 calendar year, Operating Expenses for such calendar year shall be determined to be an amount equal to the expense that would normally be expected to be incurred had such occupancy been ninety-five percent (95%) of the total square feet of net rentable area of the Building during such year and had Landlord been supplying services to ninety-five percent (95%) of the total square feet of net rentable area of the Building during such calendar year. Not withstanding anything contained herein to the contrary, Tenant's Pro Rata Share of the Estimated Operating Expense Increase (exclusive of any increase in Operating Expenses attributable to items described in items (i), (iv) and (xi) of this Section 3.03) shall in no event increase by more than eight percent (8%) with respect to any calendar year throughout the term.

Examples of Actual Operating Expense Increase in a sentence

As soon as possible after the end of each calendar year during the Term, Landlord shall furnish to Tenant a statement of the Actual Operating Expense Increase (hereinafter defined) for the immediately preceding calendar year, which statement shall specify the various types of Operating Expenses and set forth Landlord's calculations of Tenant's Pro Rata Share of the Actual Operating Expense Increase.
If Tenant's Pro Rata Share of Estimated Operating Expense Increase paid to Landlord during the previous calendar year is less than Tenant's Pro Rata Share of the Actual Operating Expense Increase, then Tenant shall pay to Landlord the amount of such underpayment.
If Tenant's Pro Rata Share of the Estimated Operating Expense Increase paid to Landlord during the previous calendar year exceeds Tenant's Pro Rata Share of the Actual Operating Expense Increase, then Landlord shall, at Tenant's option, either refund the difference to Tenant at the time Landlord furnishes the statement of the Actual Operating Expense Increase or credit the amount overpaid by Tenant to Tenant's Pro Rata Share of the Estimated Operating Expense Increase for the next calendar year.
If at any time the Building is not fully occupied or Landlord is not supplying all services to all portions of the Building during an entire calendar year, then, Base Operating Expense, Operating Expenses, the Actual Operating Expense Increase and the Estimated Operating Expense Increase shall be adjusted as though the Building had been one hundred percent (100%) occupied and Landlord were supplying all services to all of the Building during the entire calendar year.
If at any time the Building is not fully occupied or Landlord is not supplying all services to all portions of the Building during an entire calendar year, then, Base Operating Expenses, Operating Expenses, the Actual Operating Expense Increase and the Estimated Operating Expense Increase shall be adjusted as though the Building had been ninety-five percent (95%) occupied and Landlord were supplying all services to such portions of the Building during the entire calendar year.
If the audit report reflects an overcharge in the Actual Operating Expense Increase of more than two percent (2%) of the total Actual Operating Expense, then Landlord shall reimburse Tenant for all reasonable costs incurred by Tenant due to such audit plus interest on such overpayment at the Default Interest Rate.
The "Actual Operating Expense Increase" shall equal the actual Operating Expenses for the applicable calendar year, less the Base Operating Expense.
Within one hundred twenty (120) days, or as soon thereafter as practicable, after the end of each calendar year during the Term, Landlord shall furnish to Tenant a statement certified by Landlord of the Actual Operating Expense Increase (defined in Section 3.03 hereof) for the immediately preceding calendar year, which statement shall specify the various types of Operating Expenses and set forth Landlord's calculations of Tenant's Pro Rata Share thereof.
As soon as possible after the comparison year, Landlord shall furnish to Tenant a statement certified by Landlord of the Actual Operating Expense Increase (hereinafter defined) for the immediately preceding calendar year, which statement shall specify the various types of Operating Expenses and set forth Landlord's calculations of Tenant's Pro Rata Share of the Actual Operating Expense Increase.
As soon as possible after the comparison year, Landlord shall furnish to Tenant a statement certified by Landlord of the Actual Operating Expense Increase (hereinafter defined) for the immediately preceding calendar year, which statement shall specify the various types of Operating Expenses and set forth Landlord's calculations of Tenants Pro Rata Share of the Actual Operating Expense Increase.

More Definitions of Actual Operating Expense Increase

Actual Operating Expense Increase shall equal Tenant's Pro Rata share of the actual Operating Expenses for the applicable calendar year, less the Base Operating Expense. If Operating Expenses change during a calendar year or if the number of square feet of rentable area in the Premises changes, Landlord may revise the estimated Additional Rent during such year by giving Tenant written notice to that effect and thereafter Tenant shall pay to Landlord, in each of the remaining months of such year, an amount commensurate with the change in the estimated Additional Rent divided by the number of months remaining in such year. Tenant shall have the right to perform an annual audit at Tenant's expense on Landlord's books and records to the extent necessary to verify Landlord's calculation of the Base Operating Expense and/or the Actual Operating Expense Increase for the prior calendar year, provided that such audit shall be conducted by an unrelated, third party Certified Public Accountant and further provided that the auditor's report reflecting the results of such audit shall be promptly delivered to Landlord. Any such audit shall be conducted, if at all, (i) within ninety (90) days after the receipt of the annual statement of the Base Operating Expense or the Actual Operating Expense Increase (as applicable) from Landlord, (ii) during Landlord's normal business hours, (iii) at the place in Dallas, Texas where Landlord maintains it records and (iv) only after Landlord has received thirty (30) days prior written notice. If the audit report reflects an overcharge in the Actual Operating Expense Increase of more than four percent (4%) in the aggregate for such audited calendar year, then Landlord shall reimburse Tenant for all reasonable costs incurred by Tenant due to such audit. If the audit report reflects that the Actual Operating Expense Increase was overcharged or undercharged in the audited calendar year, Tenant shall, within twenty (20) days after receipt of such report, pay to Landlord the amount of any underpayment or, if applicable, Landlord shall pay to Tenant the amount of any overpayment.

Actual Operating Expense Increase shall equal the positive difference of the actual Operating Expenses for the applicable calendar year less the Base Operating Expense. Notwithstanding any provision contained herein to the contrary, if less than ninety-five percent (95%) of the total rental area in the Building is occupied by tenant(s) or Landlord is not supplying services to 95% of 5 the total rentable area of the Building at any time during any calendar year, Operating Expenses for such calendar year, including the Base Operating Expense year, shall be determined to be an amount equal to the like expense which would normally be expected to be incurred had such occupancy been 95% of the Building's total rentable area and had Landlord been supplying services to 95% of the Building's total rentable area throughout such calendar year.

Actual Operating Expense Increase shall equal the actual Operating Expenses for the applicable calendar year, less the Base Operating Expense.

Actual Operating Expense Increase means the actual Operating Expenses for the applicable calendar year, as the same relate to the Sublease Premises, less the Base Operating Expense; and “Estimated Operating Expense Increase” shall mean Sublandlord’s reasonable estimate of Subtenant OPEX for the applicable calendar year, less the Base Operating Expense; and the expression, “as the same relate to the Sublease Premises ,” shall mean twenty-six and 30/100 percent (26.30%). Notwithstanding the provisions of Section 5.01 of the Prime Lease, commencing April 1, 2006, and continuing throughout each Lease Year of the Term, Subtenant OPEX shall not be increased greater than three percent (3%) over Subtenant OPEX payable for the prior Lease Year. For the purposes of this Sublease, the term “Lease Year,” shall mean the twelve (12) month period commencing on the Sublease Term Commencement Date and each anniversary thereafter throughout the Term, and expiring on that date which arises 365 days following either of them. Expressed in formulaically, the obligation of Subtenant for the payment of Operating Expenses shall be: Actual Operating Expense Increase: Actual Operating Expense for the calendar year then-ended, less Base Operating Expense, multiplied by 26.30, minus Estimated Subtenant OPEX remitted throughout the subject calendar year = Subtenant OPEX. Estimated Operating Expense Increase: Sublandlord’s Estimate of Subtenant OPEX for the current calendar year, less Base Operating Expense, multiplied by 26.30, divided by 12 = Estimated Subtenant OPEX