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 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 Annual "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 Facilities 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 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; but only to the extent of such substitution and calculated as if the Property was the sole asset of Landlord, 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 in...
Examples of Annual Operating Costs in a sentence
Half of the adopted Annual Operating Costs shall be allocated to the Members based on the principle that Members share these costs equally, except that the Smaller Members shall pay 60% of a Full Share (the “Membership Share”).
Any payment due from Tenant to Landlord, or any refund due from Landlord to Tenant, on account of Annual Operating Costs not yet determined as of the expiration of the Term shall be made within thirty (30) days after submission to Tenant of the next Expense Statement.
Half of the adopted Annual Operating Costs shall be allocated to the Members based on their respective population (the “Population Share”).
Each Member except the Smaller Members shall pay an equal full share of the adopted Annual Operating Costs (Full Share”) the Smaller Members shall pay 60% of a Full Share.
Each year, the Working Committee shall propose projected Annual Operating Costs, which projected costs shall be adopted by the Board prior to or during approval of the budget.
More Definitions of Annual Operating Costs
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
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
Annual Operating Costs means the total of (i) Annual Operating Costs for Aircraft, and
Annual Operating Costs as used herein, shall include all expenses incurred by Landlord in connection with owning, operating, managing, insuring, repairing, maintaining and protecting of the Building and/or its appurtenances (including, without limitation, any parking areas servicing the Building) and/or the Property, and shall include, by way of illustration but not limitation, the following: all rents, 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, facsimile, 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, 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 management principles with respect to operation of similar office buildings in the Fairfax, Virginia area. Annual Operating Costs shall include a management fee not to exceed five percent (5%) of the gross revenue from the Building, and 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 imp...
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, metropolitan district and other similar taxes or public or private 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, electricity 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 of the rest of the Property; (v) charges or fees for any necessary governmental permits; (vi) management fees, overhead and expenses; (vii) premiums for hazard, liability, workmens' 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; (ii) any deduction for depreciation of the Property taken on the Landlord's income tax returns; or (iii) the cost of capital improvements made to the Property.
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 shall refer to all charges and other sums payable by Subtenant as set forth in this Sublease, in addition to Base Rent, (3) “Commencement Date” shall refer to the Commencement Date hereunder, (4) “Term” shall refer to the Term hereunder and (5) “Premises” shall refer to the Sublease Premises.