Building Operating Cost definition

Building Operating Cost means the following specified non-capital expenditures made by Landlord in the operation, management, insuring, securing and protecting, cleaning, repair and maintenance of the Land and Building: (i) Real Estate, ad valorem, special assessment and personal property taxes and any tax on rent (exclusive of Landlord's income taxes) attributable to the Land and Building; (ii) All charges for water and sewer use, electricity, gas, oil and other public utilities supplied to the Building, exclusive of utilities for which there are separate meters in the Demised Premises; (iii) Wages and salaries; including payroll taxes, workers’ compensation and insurance premiums (if paid for by Landlord); bonuses; and social security and unemployment taxes for all employees of Landlord primarily engaged in the operation, maintenance, administration or management of the Building in proportion to the time they spend on the operation and maintenance of the Land and Building, and that part of central accounting costs which are applicable to the Land and Building; (iv) The cost of materials and supplies for cleaning and securing the Building, the grounds, windows, hallways, bathrooms, elevators, offices and food service areas, for services done by employees of Landlord in proportion to the services provided to the operation and maintenance of the Land and Building; (v) The proportional share of the cost of all maintenance and service agreements for the Land and Building and the equipment therein, including security service, window cleaning, janitorial service, elevator maintenance, maintenance of HVAC equipment, plumbing, controls, locks, alarms, and landscaping of grounds and common areas; (vi) Premiums for insurance against loss by fire, with extended coverage, general public liability and business interruption insurance; (vii) Expenses for the repairing and reasonable and necessary redecorating of common areas of the Building, including gardening and landscaping; and

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Building Operating Cost shall include all items in Subparagraphs 6.2.1 and 6.2.

Building Operating Cost shall be amended to refer to "Project Operating Cost." The term "Project" refers to Building-12 and the land upon which it is constructed, including without limitation all landscaping, driveways, sidewalks, service areas and other improvements located on such land, and together with the pro rata share of the parking garages servicing such building.

Examples of Building Operating Cost in a sentence

Tenant's Building Operating Cost Percentage during the Additional Term shall be 64.05% (i.e., 124,758 square feet divided by the Total Rentable Area of the Building, which is 194,776 square feet).
Additionally, the Subtenant shall pay, as Additional Rent, its proportionate share (20%) of the Sublandlord’s portion of the Building’s engineering and facility services contract which is billed separately from the Building Operating Cost Share Rent by the Landlord.
The Building Operating Cost Base during the Additional Term shall be the Building Operating Costs for calendar year 2005, adjusted to reflect 95% occupancy for a full Operating Year.
The replacement Exhibit 16A shall merely document the amounts of the line item costs included in the Building Operating Cost Base and the Complex Operating Cost Base and shall not, except as Landlord and Tenant may otherwise agree in writing, add or delete any line items of cost or otherwise change the method by which Building Operating Costs or Complex Operating Costs are determined.
At the time that such Yearly Rent, Building Operating Cost Base, Complex Operating Cost Base and Tax Base are determined, the parties shall execute a written agreement confirming the same.
The cost of Building Services shall be considered a Building Operating Cost.
Landlord and Tenant shall, promptly after the Building Operating Cost Base and the Complex Operating Cost Base have been determined for calendar year 2005, without waiver by Tenant of any audit rights applicable thereto, cooperate to prepare a replacement Exhibit 16A to the Fourth Amendment to Lease, to be used thereafter in implementing Article 9.1(b) as amended by said Fourth Amendment.
Within ninety (90) days after the end of each Lease Year, the Landlord shall furnish to the Tenant a Statement of the actual Building Operating Cost and Municipal Tax Cost during such Lease Year and the Tenant's portion there of determined pursuant to this Article showing in reasonable detail the information relevant and necessary to the exact calculation of these amounts.
If the Building Operating Cost Adjustment for any calendar year is a negative number (i.e., estimated cost exceeds actual cost), then Landlord at Landlord’s option shall pay the Building Operating Cost Adjustment to Tenant in cash, within ten (10) days after the Building Operating Cost Adjustment is finally determined, or credit said amount against future installments of Rent payable by Tenant hereunder.
The Reconciliation Statement shall contain or be accompanied by a statement of the Building Operating Cost during such calendar year (prepared by a certified public accountant), and a computation of Building Operating Cost Adjustment.

More Definitions of Building Operating Cost

Building Operating Cost means the portion of the Project Operating Cost which is allocated to the Building pursuant to Section 3.06.

Building Operating Cost. REFERENCE (ARTICLE 5): BASE YEAR: Calendar Year 1997, or EXPENSE STOP: $5.00 per square foot. TENANT'S PRO RATA SHARE (OF BUILDING FOR BUILDING OPERATING COSTS): 10,571/63,226 SECURITY DEPOSIT: (EQUIVALENT TO FIRST AND LAST MONTHS RENT)

Building Operating Cost means: (i) the total of all reasonable expenses in the complete operation and maintenance of the Building and the Property and shall include, without limiting the generality of the foregoing, the cost of providing cleaning, garbage removal, janitor, supervisory and maintenance services, the cost of operating elevators and escalators, the cost of the heating cooling and ventilating all space, the cost of hot and cold water, electricity, telephone and other utilities and services, to all space, the cost of all repairs and replacements to the Building or services including elevators, cost of window cleaning, cost of security and supervision, cost of all insurance for loss of income, liability or fire or other casualty, accounting costs incurred in connection with maintenance and operating including computations required for the imposition of charges to tenants and audit charges for the reporting of charges hereunder, the reasonable rental value of office space (not larger than ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇) utilized by the Landlord in connection with the operation and maintenance of the Building, the amount of all salaries, wages and fringe benefits paid to employees engaged in the operation and maintenance of the Building, amounts paid to independent contractors for any services in connection with such operation and maintenance, the cost of direct supervision and of management and other expenses to the extent allocable to the operation and maintenance of the Building, the cost of any management fees and managing agents' fees and all other expenses of every nature incurred in connection with the operation and maintenance of the Building; (ii) but shall not include Municipal Tax Cost, debt service, depreciation, expenses properly chargeable to capital account, and fees in connection with leasing and rental advertising; (iii) and there shall be allowed as a deduction the proceeds of insurance relating to Insured Hazards actually recovered by the Landlord, and the amount of any charges for services and utilities actually received by the Landlord where such charges are recovered from tenants.

Building Operating Cost means the portion of the Project Operating Cost which is allocated to the tenants of the Building pursuant to Section 3.06.