Base Year Costs definition

Base Year Costs means Base Operating Costs and Base Taxes for the 2015 calendar year.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Base Year Costs. The actual costs in calendar year 2000 for Base Operating Costs, Base Taxes and Base Insurance.

Base Year Costs. For Base Operating Costs: 2018 calendar year For Base Taxes: 2018 calendar year.

Examples of Base Year Costs in a sentence

Only actual increases from these Base Year Costs, if any, will be passed on to Lessee on a proportionate basis.
For the purpose of calculating projected increases to Base Year Costs, Lessor shall review historical data to predict if any estimated increases would be anticipated in a Comparison Year(s).
To prevent any confusion regarding computation of Base Year Costs, Comparison Year Costs and the adjustment of those costs to 95% occupancy, if necessary, we have set forth the following example.
The Operating Services are adjusted to the greater of actual occupancy or 95% occupancy for the base year to fairly establish the Base Year Costs at an equitable standard for comparison purposes.
For computing the Base Year Costs, the base year shall be the calendar year stated herein or if a specific calendar year is not stated herein then the base year shall be the calendar year in which the lease term commences.
Lessee shall be responsible for any increase between Lessee’s proportionate share of Base Year Costs and Lessee’s proportionate share of each respective Comparison Year(s) Costs.
Any adjustment to Base Year Costs will commence to occur in Month 13 of the lease term with subsequent adjustments commencing every twelve months of the lease term or in Months 25, 37, 49, etc.
It is further the intent to limit adjustments to Lessee’s Base Year Costs to actual increases in cost.
Therefore, in order that the Annual Basic Rent payable throughout the Lease Term shall reflect any such increases, Tenant shall pay to Landlord, in accordance with the further provisions of this Article 6, an amount per rentable square foot of the Leased Premises equal to the difference between the Operating Costs (as hereinafter defined) per rentable square foot and the Base Year Costs.
Tenant acknowledges that the Base Year Costs does not constitute a representation by Landlord as to the Operating Costs per rentable square foot that may be incurred during any calendar year.

More Definitions of Base Year Costs

Base Year Costs. 1996 calendar year actual Operating Costs per rentable square foot, adjusted to 95% occupancy.

Base Year Costs. The greater of (i) actual costs in calendar year 2000 for Base Operating Costs, Base Taxes and Base Insurance, or (ii) the amount of Base Operating Costs, Base Taxes and Base Insurance as if the Building were one hundred percent (100%) occupied and operational for the whole of calendar year 2000 in order to make an adjustment for costs included within Common Area Costs that vary with occupancy of the Building by tenants (which Base Year Costs shall be calculated separately for each such category of Base Year Costs).

Base Year Costs means the Annual Operating Costs, as set forth in Section 6(b)(i), for the calendar year ending December 31, 1999 provided, however, that if the Building is not fully occupied during all or a portion of such calendar year, in order to increase the variable Annual Operating Costs to a level corresponding to ninety-five percent (95%) occupancy, Landlord shall, in accordance with sound accounting and management practices, determine the amount of variable Annual Operating Costs (i.e., those items which vary according to occupancy levels, that would have been paid had the Building been fully occupied and the amount so determined shall be deemed to have been the amount of variable Annual Operating Costs for such calendar year and the Landlord shall make the appropriate upward adjustment to the Base Year Costs; and provided further that Impositions (as defined in Section 6(b)(i)) shall be included at the greater of the assessed amount or the estimated amount therefor set forth on Exhibit H which reflects an Imposition reassessment based upon the redevelopment of the Property. Attached hereto as Exhibit H is a schedule of the anticipated Base Year Costs which reflects an anticipated line item breakdown of such costs for both Office Area (as defined below) and the Storage Space (as defined below).