Common Area Charges. Lessee shall pay to Lessor, as additional Rent, an amount equal to Lessee's pro-rate share of the total common area charges of the Premises as defined below (the common area charges for the Premises is referred to herein as ("CAC")). Lessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided herein below, the sum of Fourteen Thousand Four Hundred Seventy-Two Dollars ($14,472), said sum representing Lessee's estimated monthly payment of Lessee's percentage share of CAC. It is understood and agreed that Lessee's obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. Upon execution of this Lease, Lessee shall deposit with Lessor the first month's estimated CAC. Lessee's estimated monthly payment of CAC payable by Lessee during the calendar year in which the Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (or as soon as practical thereafter), Lessor shall provide Lessee with Lessee's estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Within 120 days of the end of the calendar year and the end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred including capital reserved for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall within thirty (30) days after demand pay to Lessor the amount of such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefor, and Lessee shall revise its monthly payments accordingly. Lessor's and Lessee's obligation with respect to adjustments at the end of the Lease Term or earlier expiration of this Lease shall survive the Lease Term or earlier expiration.
Common Area Charges shall be an amount equal to Tenant's share of the costs, if any, incurred by Landlord in the exercise of its reasonable discretion, for the operation, repair and maintenance of the Common Areas as described in Section 1.01(c) herein, provided however, Landlord shall be solely responsible for all costs, expenses and taxes related to the construction of any additional buildings or similar capital improvements to the Common Areas or any maintenance thereto subsequent to the execution date of this Lease.
Common Area Charges means all of Landlord’s expenses for management, operation, repair, replacement and maintenance to keep the Leased Premises in good order, condition and repair, including, but not limited to: management fees; common area utilities; stormwater discharge fees; license, permit, inspection and other fees; fees and assessments imposed by any covenants or owners’ association; professional fees; security services; costs in complying with any governmental laws or ordinances; and maintenance, repair and replacement of the driveways, parking and loading areas (including snow removal), exterior lighting, landscaped areas, walkways, curbs, drainage strips, sewer lines, exterior walls, foundation, structural frame, roof and gutters. The cost of any capital improvement shall be amortized over the useful life of such improvement (as reasonably determined by Landlord), and only the amortized portion shall be included in Common Area Charges. Notwithstanding the foregoing, Tenant shall not be responsible for the cost of replacing the roof, exterior walls, foundation and/or structural frame of the Building.
Examples of Common Area Charges in a sentence
Tenant acknowledges and agrees that the Common Area Charges shall include an additional five percent (5%) of the actual expenditures in order to compensate Landlord for accounting, management and processing services.
Said Total Common Area Charges shall further include all charges for semi-annual preventive maintenance service of mechanical equipment including, without limitation, heating, ventilating and air conditioning equipment, which is attributable to the Project, and the cost of lighting, maintenance and repair of the Project identification signs.
If any utility supplied to the Premises is not separately metered, Lessee shall pay its proportionate share of the cost thereof as Total Common Area Charges.
Within ninety (90) days following the end of each calendar year during the Term or as soon thereafter as is reasonably possible, Lessor shall furnish Lessee with a statement of all Total Common Area Charges for the Project for the previous calendar year indicating the computation of Lessee’s proportionate share of the CAM Amount for such calendar year and the payments made by Lessee during such calendar year.
The specific examples of Common Area Charges stated in this Paragraph 12.1 are in no way intended to and shall not limit the costs comprising Common Area Charges, nor shall such examples be deemed to obligate Landlord to incur such costs or to provide such services or to take such actions except as Landlord may be expressly required in other portions of this Lease, or except as Landlord, in its reasonable discretion, may elect.
More Definitions of Common Area Charges
Common Area Charges. Lessee shall pay to Lessor, as additional Rent, an amount equal to Lessee's pro-rata share of the total common area charges of the Premises as defined below (the common area charges for the Premises is referred to herein as ("CAC"). Lessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Forty Two Thousand Nine Hundred and Four Dollars ($42,904) for Phase I and Fifty Seven Thousand Three Hundred and Twenty Six Dollars ($57,326)for Phase I and Phase II combined, said sum representing Lessee's estimated monthly payment of Lessee's percentage share of CAC and includes a fixed monthly sum of Ten Thousand Three Hundred and Eighty Dollars ($10,380) for Phase I and Thirteen Thousand Three Hundred and Thirty Five Dollars ($13,335) for Phase I and Phase II combined which represents the long term capital reserve for replacement of HVAC units, parking lot, roof and painting of building exterior ("Capital Reserves"
Common Area Charges means all costs and expenses and other charges incurred in connection with the ownership, operation, insurance, maintenance and repair of the common area, and shall include, but not be limited to, the costs and expenses of the following:
Common Area Charges has the meaning ascribed to it in Annexure C.
Common Area Charges. As defined in Section 9.1.
Common Area Charges means all of Landlord’s expenses for management, operation, repair, replacement and maintenance to keep the Building and common areas in good order, condition and repair (including all additional direct costs and expenses of operation and maintenance of the Building which Landlord reasonably determines it would have paid or incurred during such year if the Building had been fully occupied), including, but not limited to: management or administrative fees; common area utilities; stormwater discharge fees; license, permit, inspection and other fees; fees and assessments imposed by any covenants, trust indenture or owners’ association; professional fees; security services; costs in complying with any governmental laws or ordinances; and maintenance, repair and replacement of the driveways, parking and loading areas (including snow removal), exterior lighting, landscaped areas, walkways, curbs, drainage strips, sewer lines, exterior walls, foundation, structural frame, roof and gutters. The cost of any capital improvement shall be amortized over the useful life of such improvement (as reasonably determined by Landlord), and only the amortized portion shall be included in Common Area Charges. Common Area Charges shall include the cost of capital improvements only to the extent such capital improvements are made for the purpose of reducing Common Area Charges and only to the extent of such reduction, or for the purpose of complying with any law, code, ordinance, rule, regulation or order applicable to the Building or common areas that is not in effect on the date of this Lease.
Common Area Charges means and include (a) all sums incurred in a manner deemed by Lessor to be reasonable and appropriate and for the best interest of the Office Building in connection with the operation, maintenance and repair of the Common Areas and Office Building, including costs incurred for the equipping, policing, protecting, advertising, promoting, lighting, heating, air conditioning, providing sanitation and other services for, snow removal, window cleaning, water, sewage, gas and electricity (subject to Lessee's responsibility under Article 14 hereof ), insuring (including any self-insurance and payment of deductible amounts under insurance policies), repairing, replacing and maintaining the (i) Common Areas, (ii) the Office Building and roof; and all other areas and facilities used in the maintenance or operation and utilization of the Office Building, and whether located within or outside of the Office Building, including operation and illumination of signage, service, hookup, connection fees and charges related to any of the foregoing, and also including the depreciation of maintenance equipment used in the operation and maintenance of the Common Areas and the Office Building, the total compensation and benefits (including premiums for worker's compensation and other insurance) paid to or on behalf of employees involved in the performance of work relating to any of the foregoing, the administrative costs, the management fees; and (b) any business privilege tax, any license fees, tax measured by or imposed upon the operations of the Office Building, but shall not include any federal or state income tax or any franchise, capital stock, estate or inheritance taxes. •
Common Area Charges. $ TENANT'S RESPONSIBILITY adjustment to actual costs and expenses according to the provisions of this Lease) 3. Taxes: $ TO BE PAID DIRECTLY BY TENANT ON AN ANNUAL BASIS.