Examples of Base Operating Amount in a sentence
Landlord shall, each calendar year, pay the base operating amount ("Base Operating Amount"), as hereafter defined.
Tenant shall pay to Landlord, as overhead rent ("Overhead Rent"), prorated for that part of the Lease Term within the applicable calendar year, Tenant's share ("Tenant's Share"), as hereafter defined, of the total amount of (i) the annual operating expenses ("Operating Expenses"), as hereafter defined, and (ii) the annual taxes ("Taxes"), as hereafter defined, in excess of the Base Operating Amount.
Effective as of the Commencement Date of the Extension Term, (1) the Base Operating Amount shall be the Operating Expenses for the calendar year in which occurs the Commencement Date of the Extension Term; and (2) the Base Tax Amount shall be the Taxes for the last complete Tax Year in which occurs the Commencement Date of the Extension Term, as finally determined.
It -129- 134 is specifically understood that the Base Tax Amount and Base Operating Amount shall be the same for the Option Space as for the Premises originally demised hereunder.
For each Lease Year or portion thereof commencing on or after July 1, 2016, Tenant shall pay to Landlord in accordance with Sections 4.04, 4.05 and 4.07 below (“Tenant’s Operating Payment”), Tenant’s Operating Share of the amount, if any, by which Operating Expenses for such Lease Year exceed the Base Operating Amount.