Common Area Maintenance and Repair Costs definition

Common Area Maintenance and Repair Costs means all costs of maintaining and repairing, including the cost of any maintenance or service contract, the Building’s water, sewer, ventilating and air-conditioning systems (unless such system only serves the Premises, or any part thereof, in which event Lessee shall maintain said system), common entryways, doors and passage ways, plumbing and sewer lines which extend from the Premises, the grounds surrounding the Building and the driveways (including landscaping whether located adjacent to the Building or elsewhere on the parcel on which the Building is located), parking areas, driveways, the easement roadway or driveway, fences, the drain and gutter pipes at the roof level, and all other common areas. Such term shall also include the cost of washing the exterior walls or painting or repairing such walls for the purpose of removing any graffiti which may appear thereon. Such term shall also include the cost of any needed replacements of such equipment or systems or any other replacements or capital improvements. Such capital costs shall be amortized over the useful life of the improvement, which Lessor shall determine in his sole discretion, together with interest on the unamortized balance at the rate of ten (10%) per annum if Lessor has used his own funds or the interest rate as may have been paid by Lessor on funds borrowed for the purpose of constructing or installing such replacements or improvements. Lessor agrees that he will not collect or be entitled to collect Common Area Maintenance and Repair Costs from all of its tenants in the Building in an amount which is in excess of one hundred percent (100%) of the Common Area Maintenance and Repair Costs actually paid by Lessor in connection with the operation of the Building and the surrounding areas and grounds.
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Common Area Maintenance and Repair Costs means all commercially reasonable costs of maintaining and repairing, including the cost of any maintenance or service contract, the Building’s water, sewer, ventilating and air-conditioning systems (unless such system only serves the Premises, or any part thereof, in which event Lessee shall maintain said system), common entryways, doors and passage ways, the plumbing and sewer system and sewer lines which extend from the Premises and the Building, the grounds surrounding the Building (including landscaping whether located adjacent to the Building or elsewhere on the parcel on which the Building is located), the parking areas and driveways and the Common Roadway (including but not limited to the resealing, re-striping and re-paving of all such areas and filling in pot holes), fences, the drain and gutter pipes at the roof level, and all other Common Areas. Such term shall also include the cost of washing the exterior walls or painting or repairing such walls for the purpose of removing any graffiti which may appear thereon and management fee of three and three quarters percent (3.75%) of the Base Monthly Rent each month during the term of this Lease if Xxxx X. Xxxxxx should die or become incapacitated to the extent he cannot reasonably manage the Building or if the Building is sold.
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Common Area Maintenance and Repair Costs means all commercially reasonable costs of maintaining and repairing, including the cost of any maintenance or service contract, the Building's water, sewer, ventilating and air-conditioning systems (unless such system only serves the Premises, or any part thereof, in which event Lessee shall maintain said system), common entryways, doors and passage ways, the plumbing and sewer system and sewer lines which extend from the Premises and the Building, the grounds surrounding the Building (including landscaping whether located adjacent to the Building or elsewhere on the parcel on which the Building is located), the parking areas and driveways and the Common Roadway (including but not limited to the re-paving of all such areas and filling in pot holes), fences, the drain and gutter pipes at the roof level, and all other common areas. Such term shall also include the cost of washing the exterior walls or painting or repairing such walls for the purpose of removing any graffiti which may appear thereon. Such term shall also include the cost of any needed replacements of such equipment or systems or any other replacements or capital improvements. With regard to items which are capital improvements, Lessor shall determine what replacements shall constitute a capital improvement and any such costs shall be amortized over the useful life of the improvement, which Lessor shall determine in its discretion, together with interest on the unamortized balance at the rate of 10% per annum if Lessor has used its own funds or the interest rate as may have been paid by Lessor on funds borrowed for the purpose of constructing or installing such replacements or improvements, and Lessee shall only be obligated to pay, each month during the remaider of the Term, or any extension thereof, on the date that on which Rent is due, an amount equal to Lessee’s Share of 1/the amortization period of the useful life of such improvement.
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Examples of Common Area Maintenance and Repair Costs in a sentence

  • Lessor agrees that he will not collect or be entitled to collect Common Area Maintenance and Repair Costs from all of its tenants in the Building in an amount which is in excess of one hundred percent (100%) of the Common Area Maintenance and Repair Costs actually paid by Lessor in connection with the operation of the Building and the surrounding areas and grounds.

  • If Lessee holds over without Lessor’s consent, Lessor’s damages shall also include the per diem rental value of the Premises measured by one hundred and fifty percent (150%) of the Base Monthly Rent due in the last month of prior to the expiration or termination of this Lease divided by 30 plus the daily cost of Lessee’s Percentage Share of Common Area Maintenance and Repair Costs, Real Property Taxes and insurance premiums.

  • If Lessee holds over without Lessor’s consent, Lessor’s damages shall also include the per diem rental value of the Premises measured either by (a) one hundred and twenty-five percent (125%) of the Base Monthly Rent due in the last month of term divided by 30 plus the daily cost of Common Area Maintenance and Repair Costs, real estate taxes and insurance or (b) the fair market value of the Premises as reasonably determined by Lessor, whichever is higher.

  • Lessee shall have no right to purchase the Building, notwithstanding any provision in this paragraph 29 to the contrary, if prior to or during the time within which Lessee has to exercise its first right to purchase the Building ten (10) Events of Default as defined in paragraphs 20.A and 20.B (with the exception of any payment due from Lessee for Lessee’s Percentage Share of Common Area Maintenance and Repair Costs) have occurred during the term of this Lease or any extension thereof.

  • Lessee at Lessee’s sole cost may also have the records maintained by Lessor for the Common Area Maintenance and Repair Costs audited by a reputable certified public accountant once every calendar year.

  • If Lessee holds over without Lessor’s consent, Lessor’s damages shall also include the per diem rental value of the Premises measured by one hundred and fifty percent (150%) of the Base Monthly Rent due in the last month of the term divided by 30 plus the daily cost of Lessee’s Percentage Share of Common Area Maintenance and Repair Costs, Real Property Taxes and insurance premiums.

  • Lessor shall have the right to appoint a consultant to conduct an investigation to determine whether hazardous materials have been released in such a manner as would violate applicable laws and regulations, provided, however, that the cost of hiring any such consultant shall not be a part of Common Area Maintenance and Repair Costs.

  • If the amount of any overcharge for the combined total of Lessee’s Percentage Share of Common Area Maintenance and Repair Costs and maintaining the Common Roadway exceeds ten percent (10%) of Lessee’s Percentage Share of Common Area Maintenance Costs and the cost of maintaining the Common Roadway for that year, Lessor shall promptly reimburse Lessee for the reasonable costs of such audit.

  • In case of destruction and Lessor elects or is required to restore the Premises, there shall be an abatement of Base Monthly Rent, Common Area Maintenance and Repair Costs and other Rent on the unusable portion of the Premises from the date of destruction to the date on which there is substantial completion of the work.

  • If Lessee holds over without Lessor’s consent, Lessor’s damages shall also include the per diem rental value of the Premises measured either by (a) one hundred and twenty-five -56- percent (125%) of the Base Monthly Rent due in the last month of term divided by 30 plus the daily cost of Common Area Maintenance and Repair Costs, real estate taxes and insurance or (b) the fair market value of the Premises as reasonably determined by Lessor, whichever is higher.

Related to Common Area Maintenance and Repair Costs

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following: (i) The operation, repair and maintenance, in neat, clean, good order and condition, of the following:

  • Operation and Maintenance Costs means the costs of:

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.

  • Operation and Maintenance or “O&M” shall mean all activities required to operate, maintain, and monitor the effectiveness of the RA as specified in the SOW or any EPA-approved O&M Plan.

  • Maintenance area means any geographic region of the United States previously designated nonattainment pursuant to the CAA Amendments of 1990 and subsequently redesignated to attainment subject to the requirement to develop a maintenance plan under Section 175A of the CAA, as amended.

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Common Area means all areas and facilities within the Project that are not designated by Landlord for the exclusive use of Tenant or any other lessee or other occupant of the Project, including the parking areas, access and perimeter roads, pedestrian sidewalks, landscaped areas, trash enclosures, recreation areas and the like.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Maintenance work means the repair of existing facilities when the size, type or extent of such facilities is not thereby changed or increased. While “maintenance” includes painting and decorating and is covered under the law, it does not include work such as routine landscape maintenance or janitorial services.

  • Common Areas and Facilities means collectively the Development Common Areas and Facilities and the Residential Common Areas and Facilities and all those parts and such of the facilities of the Development designated as common areas and facilities in any Sub-Deed;

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Operations and maintenance means a project delivery method in which the District enters into a single contract for the routine operation, routine repair, and routine maintenance of an infrastructure facility.

  • Emergency Maintenance means any period of maintenance for which, due to reasons beyond its reasonable control, Sprint Convergence is unable to provide prior notice of.

  • Repairs means the repairs to be made to the Mortgaged Property, as described on the Repair Schedule of Work (Exhibit C) or as otherwise required by Lender in accordance with this Loan Agreement.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Common Areas is defined as all areas and facilities outside the Premises and within the exterior boundary line of the Project and interior utility raceways and installations within the Unit that are provided and designated by the Lessor from time to time for the general non-exclusive use of Lessor, Lessee and other tenants of the Project and their respective employees, suppliers, shippers, customers, contractors and invitees, including parking areas, loading and unloading areas, trash areas, roadways, walkways, driveways and landscaped areas.

  • Building Common Areas means with respect to the Tower, the areas, facilities and amenities specified in Schedule [E] which are to be used and enjoyed in common with all the other Apartment Acquirers of the Units in the Building; and

  • Routine maintenance means actions performed on a regular or controllable basis or in response to uncontrollable events upon a highway, road, street, or bridge. Routine maintenance includes, but is not limited to, 1 or more of the following:

  • Major maintenance means the adjustment, repair or replacement of a component or module that could affect the accuracy of a measurement.

  • Cleaning means the act of removing septage or other wastes from a wastewater treatment system component or grease/waste from a grease interceptor.

  • Controllable Operating Expenses means all Operating Expenses except property taxes and assessments, capital expenditures that are reasonably required, costs for repairs and maintenance (excluding preventative maintenance), utility charges, insurance charges, costs of services provided under a union contract, payments under covenants, conditions and restrictions or to an owners’ association and costs associated with repairs due to casualty, vandalism or other cause outside of Landlord’s reasonable control.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.