Base Operating Expense definition

Base Operating Expense means the amount of Common Operating Costs (as defined in Section V. below) actually incurred for the period from January 1, 1996 to December 31, 1996 which shall be paid by Landlord and not Tenant. SEE ADDENDUM SECTION XXXV.B.

Base Operating Expense means the actual amount for the calendar year 1996 (as defined in Section V below) which shall be paid by Landlord and not Tenant.

Base Operating Expense means the amount of the Operating Expenses for the Base Year (as hereinafter defined).

Examples of Base Operating Expense in a sentence

• Prior to the end of the Base Operating Expense Year, and in advance of each calendar year thereafter during the Term, Landlord shall furnish Tenant with an estimate (which estimate may be changed by Landlord from time to time) of Tenant’s Proportionate Share of the Expense and Tax Increases for the ensuing calendar year (or portion thereof).

• For purposes of calculating the Operating Expenses for the Base Operating Expense Year, any fee or expenditure that otherwise constitutes an Operating Expense and that is paid or payable to any Affiliate of Landlord shall not be less than the amount that would be reasonably expected to be paid in the absence of such relationship.

• For each calendar year during which any part of the Term falls, Tenant shall pay to Landlord Tenant's Proportionate Share of the excess, if any, in Basic Operating Expenses for the Leased Premises for such year (the "Excess Operating Expenses") over the Base Operating Expense Amount.

• 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).

• Tenant shall pay to Landlord, as Additional Rent, its Proportionate Share as set forth in Section 1(a)(5) of any increase in the Basic Operating Expenses incurred by Landlord in the operation of the Building during any calendar year over the Base Operating Expense Amount specified in Section 1(a)(13).

More Definitions of Base Operating Expense

Base Operating Expense means the actual amount for the fiscal year 1992, which runs from October 1, 1991 to September 30, 1992, (as defined in Section V below) which shall be paid by Landlord and not Tenant. Effective March 1, 1996 "Base operating Expense" means the actual amount for the calendar year 1996 (as defined in Section V below) which shall be paid by Landlord and not Tenant.

Base Operating Expense means Operating Expenses (defined in Section 5.02 hereof) for the calendar year 1999 determined in accordance with this Article 5, which calendar year 1999 shall be referred to herein as the "Base Year." In the event that Operating Expenses (defined in Section 5.02A hereof) of the Project during any calendar year of the Term shall exceed the Base Operating Expense, Tenant shall pay to Landlord Tenant's Pro Rata Share of the increase in such Operating Expenses over the Base Operating Expense in accordance with the procedures below ("Additional Rent"). Notwithstanding the foregoing, in no event is Tenant obligated to pay any Additional Rent with respect to calendar year 1999. On or before January 1, 2000 and on or before the first day of each calendar year thereafter during the Term, Landlord shall provide to Tenant the Estimated Operating Expense Increase (defined below) for the upcoming year. In addition to the Base Rent, Tenant shall pay in advance on the first day of each calendar month during the Term, installments equal to 1/12th of Tenant's Pro Rata Share of the Estimated Operating Expense Increase, if any. Within one hundred twenty (120) days after the end of each calendar year during the Term, Landlord shall furnish to Tenant a written detailed statement, certified by Landlord's group controller or other Project officer knowledgeable of the facts that the statement has been prepared

Base Operating Expense means the amount of the Operating Expenses for the Base Year (as hereinafter defined). The parties agree that until the Building is 90% occupied "Base Operating Expenses" shall be equitably adjusted by cost item to the amount such expenses would have been if the Building was 90% occupied during the entire Base Year.

Base Operating Expense means $877,801.63

Base Operating Expense means and be defined as the greater of the actual Operating Expenses for the calendar year 1995 or the currently budgeted amount of $4.85 per square foot of rentable area within the Building. Lessor will cap all expenses other than utilities, real estate taxes and building insurance at 5% per year non-compounded. EXHIBIT B Rentable Square Feet: 9,107 Address: The Xxxxxxxxxx xx Xxxxxxxx 0xx Xxxxx, Xxxxx #000 000 Xxxx Xxxxxxxxx Tampa, FL 33619 EXHIBIT C ..withstanding any of the provisions contained herein, the Base Annual Rental payments are: EXHIBIT E July ,1995 D R A F T --------- TO: (Beneficiary) Park Central Corp. 000 Xxxx Xxxx., Suite 500 Tampa, Florida 33619 Gentlemen, We hereby establish our Irrevocable Letter of Credit No. ____________ in your, the beneficiary's, favor for the account of The University of Sarasota, Inc., 0000 00xx Xxxxxx, Xxxxxxxx, Xxxxxxx 00000, in the aggregate amount of United States Dollars One Hundred Thirty Thousand ($130,000.00) and is available by your draft(s) drawn at sight on us, Northern Trust Bank of Florida N.A., bearing the number and the date of this Letter of Credit. Your draft(s) must be accompanied by the following documents:

Base Operating Expense. An amount per square foot of net rentable ---------------------- area equal to (i) the aggregate Operating Expenses (hereinafter defined) paid or incurred by Landlord during the 1997 calendar year, divided by (ii) the total number of square feet of net rentable area in the Building.

Base Operating Expense means the Operating Expenses as hereinabove defined, in the amount of One Hundred Thousand ($100,000.00) Dollars. Tenant's proportionate share of the increases in the Operating Expenses over the Base Operating Expense shall be 25%. Each year Landlord shall notify Tenant of Landlord's calculation of Tenant's proportionate share of the increase in the Operating Expenses and together with such notice shall furnish a statement reflecting the new projected Operating Expenses. Tenant agrees to pay its share of the increases in the Operating Expenses within thirty (30) days after submission of the aforementioned statements. Following the establishment and/or projection by Landlord of an increase in the Operating Expenses for any year during the term of this Lease, Tenant shall, in addition to the payments required above, pay to Landlord for the next succeeding twelve month period in monthly installments in advance, with each monthly installment equal to 1/12th of the amount of the Tenant's proportionate share of the established and/or projected increases in the Operating Expenses subject to adjustment at the expiration of such succeeding twelve month period, or at the expiration of this Lease, whichever occurs sooner. All increases in Operating Expenses which shall become payable for the last year of the term of this Lease shall be apportioned pro rata between Landlord and Tenant in accordance with the respective portions thereof.