Annual Operating Costs shall not include: (A) depreciation; (B) principal and interest on encumbrances; (C) ground rents; (D) costs actually reimbursed through insurance proceeds to repair or replace damage by fire or insured other casualty; (E) compensation and benefits of executive officers of Landlord (or its managing agent above the level of building manager; (F) Electricity Costs)(defined in 1,101--Article 7.1.4); (G) commissions payable to leasing brokers and advertising costs and other marketing expenses associated with procuring new tenants; (H) expenditures for capital improvements except those referred to in Section 7.4.1(H); (I) costs actually reimbursed by condemnation awards or under contractor warranties; (J) costs of preparing tenant space for other tenants; (K) legal fees relating to preparation of tenant leases, financing of the Buildings and violations by the Landlord or any tenant under tenant leases; (L) fees or charges paid to any Affiliate of Landlord to the extent such fees or charges exceed the fees or charges that would have been incurred to an independent entity in an arm's length transaction; (M) cost of utilities and services furnished to retail tenants who pay directly for such utilities and services under their leases; (N) costs of original artwork; (0) costs of furnishing any additional or special service to any tenant, if such service is not also available to Tenant at no charge; (P) costs of upgrading the common areas of the Buildings beyond the level of maintenance, repair, modification and replacement necessary to preserve the first class standard of quality prevailing in such areas on the date of this Lease; (Q) the cost of any fine for Landlord's failure to comply with any laws for which this Lease imposes the obligation on Landlord to comply, (R) the wages and benefits of any personnel employed to manage the garage; (S) the cost of any personnel, materials or services shared by the Buildings and any other buildings owned or operated by Landlord, to the extent reasonably allocable to such other buildings; (T) annual increases in rent for the space occupied by the management office in a Building in excess of annual increases in the Consumer Price Index (CPI-W), DC-MD-VA; and (U) phase outs of chlorofluorocarbon refrigerants which do, not result in a net decrease in Annual Operating-Costs.
Annual Operating Costs means the day to day expenses of the Authority (other than systems maintenance expenses) which shall include without limitation, personnel (except systems maintenance personnel), overhead, legal and accounting services, and similar costs for the fiscal year; as such term may be further defined in the policies of the Authority
Annual Operating Costs means all costs Landlord incurs from owning, operating and maintaining the Building and the lot or tract of land on which it is situated (the "Property"). Annual Operating Costs shall include, by way of example rather than limitation: insurance costs, including premiums; fees; Impositions (defined below); costs for repairs, maintenance and service contracts; management fees; landscaping; snow removal; governmental permits fees; costs of compliance with governmental orders and regulations; administrative and overhead expenses; costs of furnishing water, sewer, electricity, gas, fuel, and other utility services, for use in common areas of the Building and Property; and the cost of janitorial service and trash removal; excluding, however, from annual operating costs the following: costs which are treated as capital expenditures (except as provided in Section 10(b)) under generally accepted accounting principles; mortgage debt or ground rents incurred by Landlord as owner of the Property; income, excess profits, corporate capital stock or franchise tax imposed or assessed upon Landlord, unless such tax or any similar tax is levied or assessed, in lieu of all or any part of any currently existing Imposition or an increase in any currently existing Imposition; leasing commissions, accountants', consultants' or attorneys' fees, costs and disbursement and other expenses incurred in connection with negotiations or disputes with tenants or prospective tenants or associated with the enforcement of any leases or the defense of Landlord's title to or interest in the Building in connection with any proceedings involving real property taxes other than disputes regarding tax assessment and reduction of real property taxes; costs of construction of the Building and related facilities and correction of defects in construction of the Building (including permit, license and inspection fees); costs of any items or services sold or provided to tenants (including Tenant) for which Landlord is entitled to be reimbursed by such tenants or which are not generally provided to all tenants of the Building; fees and higher interest charges caused by Landlord's refinancing the Building; all repairs to the interior of the Building of a structural nature (not made necessary by unusual use by Tenant); costs incurred due to violation by Landlord or any tenant of the terms and conditions of any lease; overhead and profit increment paid to subsidiaries or affiliates of Landlord, or to any par...
Examples of Annual Operating Costs in a sentence
The cost of the insurance procured by Landlord shall be considered part of the Annual Operating Costs to be paid by Landlord, at its sole cost and expense, pursuant to Section 9(b) herein above.
More Definitions of Annual Operating Costs
Annual Operating Costs means the costs to Landlord of operating and maintaining the Property during each calendar year of the term. Such costs shall include by way of example rather than limitation: insurance premiums, fees, impositions, costs for repairs, maintenance, service contracts, management fees, governmental permits, overhead expenses, and the costs of any other items attributable to operating or maintaining any or all of the Property excluding any costs which under generally accepted accounting principles are capital expenditures.
Annual Operating Costs shall not include: any income, inheritance, excess profits, capital stock or franchise taxes of Landlord or any interest or penalties resulting from late payment of taxes, depreciation on the Building or equipment; interest on mortgage encumbrances; ground rents; income taxes; salaries of executive officers of Landlord; the cost of correcting defects in the construction of the Building or Property; the cost of any repairs, alterations, additions, changes, replacements, and other items which under generally accepted accounting principles consistently applied (“GAAP”) are properly classified as capital expenditures (except to the extent otherwise provided in subparagraphs (i)(l) and (i) (2) below) or which are made in order to prepare for a new a tenant’s occupancy; the cost of any repairs resulting from condemnation, fire or casualty; interest or debt or amortization payments on any loan or any rental under any ground lease or other underlying lease; any advertising expenses and objects of art; legal expenses for disputes with tenants and legal, auditing and consulting fees, other than those legal, auditing and consulting fees necessarily incurred in connection with the normal maintenance and operation of the Property (including without limitation real estate tax appeals); costs incurred due to violations by Landlord of any provisions of this Lease or any laws, rules, regulations or ordinances applicable to the Building or the Property or the cost of any work or service performed for any facilities other than the Building and Property; except for charges due Chesterbrook Office Center and the payment of the Rt. 202 Highway Improvement Tax. the cost of any items for which Landlord is reimbursed by insurance by Tenant or otherwise; commissions payable to leasing brokers; and expenditures for capital improvements, except (1) those which under GAAP are expensed or regarded as deferred expenses and (2) capital expenditures required by law, in either of which cases the cost thereof shall be included in Annual Operating Costs for the calendar year in which the cost shall have been incurred and subsequent calendar years, on a straight line basis, to the extent that such items are amortized over an appropriate period, but not more than ten (10) years, with an interest factor equal to the prime rate at the time Landlord shall have incurred said costs. The prime rate as such term is utilized in this Lease shall mean the rate of interest per annum announced from time t...
Annual Operating Costs means the actual costs to Landlord of operating and maintaining the Property (including, without limit, all improvements thereto and fixtures and equipment therein or thereon) during each calendar year of the Term (and any renewals or extensions thereof) including, without limit, the first calendar year during which the Term of this Lease shall have commenced, excluding Tenant Energy Costs (as hereinbefore defined). Such costs shall include, by way of example rather than of limitation, (1) charges or fees for, and taxes on, the furnishing to the Property of water and sewer service, electric energy (excluding the supply of electric energy included in Tenant Energy Costs) and, if the Building systems should be converted to receive the same, steam or fuel and other utility services; (2) costs of elevator service and charges or fees for maintenance of the Property, planting, replanting and janitorial service, trash removal, policing, cleaning, restriping, resurfacing, maintaining and repairing all walkways, roadways, parking areas forming part of the Property, maintaining all landscaped areas of the Property; (3) charges or fees for any necessary governmental permits; (4) wages, salaries and benefits of employees of Landlord or any management company engaged by Landlord in connection with the Building, management fees, overhead and expenses; (5) the cost of premiums for hazard, rent, liability, workmen's compensation and other insurance upon the Property or portions thereof; (6) costs arising under service contracts with independent contractors; (7) professional and consulting fees including, without limit, legal and auditing fees; (8) repairs, replacements and improvements to the Property which are appropriate for the continued operation of the Building as a first class office building; (9) all real estate taxes and assessments, general or special, ordinary or extraordinary,
Annual Operating Costs means the total of (i) Annual Operating Costs for Aircraft, and
Annual Operating Costs means the actual costs incurred by the Landlord in operating and maintaining the Property during each calendar year of the Term. Such costs shall include, by way of example rather than of limitation, (i) real property, front-foot benefit, other metropolitan district and other similar taxes or assessments (whether regular or special) levied against any or all of the Property; (ii) charges or fees for, and taxes on, the furnishing of water, sewer service, gas, fuel, or other utility services to the Property; (iii) costs of providing elevator, janitorial and trash removal service, and of maintaining grounds, common areas and mechanical systems of buildings; (iv) all other costs of maintaining, repairing or replacing any or all of the Building or the rest of the Property; (v) charges or fees for any necessary government permits; (vi) [crossed out]; (vii) premiums for hazard, liability, workmen's compensation or similar insurance upon any or all of the Property; (viii) costs arising under service contracts with independent contractors; (ix) costs of any services not provided by the Landlord to the Property on the date hereof but hereafter provided by the Landlord in its prudent management of the Property; and (x) the cost of any other items which, under generally accepted accounting principles consistently applied from year to year with respect to the Property, constitute operating or maintenance costs attributable to any or all of the Property. Such costs shall not include (i) the expense of principal and interest payments made by the Landlord pursuant to the provisions of any mortgage or deed of trust covering the Property; [SEE PARAGRAPHS 10 AND 11 OF RIDER] (b)
Annual Operating Costs as used herein, shall include all expenses incurred by Landlord in connection with owning, operating, managing, insuring, repairing, maintaining and protecting the Building and/or its appurtenances (including, without limitation, any parking areas servicing the Building) and/or the Property. By way of example, but without limitation, Annual Operating Costs shall include the following: charges and expenses, salaries, wages and employee benefits for agents or employees of Landlord engaged in the operation, maintenance, servicing or repair of the Building and/or the Property and/or its appurtenances, license, permit and inspection fees and/or charges, repairs and maintenance, utility and utility distribution charges, water and sewer charges, charges for gas, oil and other fuels, charges for steam, premiums for any casualty, liability, rent and/or other insurance obtained by Landlord or on Landlord's behalf with respect to the Building and/or the Property, security services, char and cleaning services, building and cleaning supplies, uniforms and dry cleaning and laundering, window cleaning, snow removal, repair and maintenance of the sidewalks, driveways, roadways (public and private) and grounds, including plantings and ground cover and other improvements and replacements thereto, accounting and legal fees, fees and expenses incurred by Landlord under any service (including, without limitation, garbage and waste disposal (including recycling costs), elevator service, and plumbing service) or management contracts, the cost for telephone, telegraph, stationery, postage and other materials and supplies used in the operation of the Building and/or the Property, personal property taxes, chillers, air conditioning and ventilation, advertising and promotion expenses, all sales and/or excise taxes imposed on any of the services provided by Landlord, a management fee equal to five percent (5%) of the gross revenue from the Building, the cost of any capital improvements intended to decrease Annual Operating Costs or required by Federal, state or local statutes, regulations, rules or orders (the cost of such capital improvements shall be amortized over a reasonable period of time as determined by Landlord and to this extent shall be included in Annual Operating Costs), and any other expenses or charges of any nature whatsoever, whether or not herein mentioned, which shall be included in Annual Operating Costs in accordance with generally accepted accounting and managem...
Annual Operating Costs means the actual costs to the Landlord of operating and maintaining the Property during each calendar year of the Term. Such costs shall include, by ways of example rather than of limitation (a) real property, front-foot benefit, Washington Suburban Sanitary Commission, other metropolitan district and other similar taxes or assessments (whether regular or special) with respect to any or all of the Property; (b) charges or fees for, and taxes on, the furnishing of water, sewer service, gas, fuel, electricity, or other utility services to the Property; (c) costs of elevator service and charges or fees for the maintenance, repair and replacement of common areas and mechanical and electrical systems of buildings and structural members of buildings such as exterior walls, roof, and load-bearing walls and for grounds maintenance, janitorial service and trash removal; (d) charges or fees for any necessary governmental permits; (e) management fees, overhead and expenses; (f) premiums for hazard, liability, workmen's' compensation or similar insurance upon the Property or portions thereof: (g) costs arising under service contracts with independent contractors; and (h) the cost of any other items which, under generally accepted accounting principles consistently applied from year to year with respect to the Property, constitute operating or maintenance costs attributable to any or all of the Property.