Common Area Maintenance Costs definition
Common Area Maintenance Costs means the total costs and expenses incurred in operating, maintaining, repairing and replacing the Common Area including without limitation the costs and expenses of: repairing (but not replacing) structural elements of all buildings in the Shopping Center (including floors, walls, foundations and roofs); painting; decorating; paving; lighting; electrical power; sanitary control; maintaining, operating and repairing all sprinkler and suppression systems in all buildings in the Shopping Center; removal and/or relocation of snow and ice; removal and other treatment of trash, garbage and other refuse; cleaning of Shopping Center; gardening, maintenance and operation of underground sprinklers and landscaping; lighting; heating, ventilating and air conditioning; fire protection; water and sewer charges; insurance carried by Landlord covering any portion of the Shopping Center, including without limitation, public liability, personal and bodily injury and property damage liability and automobile coverage, fire and extended coverage, sign, vandalism and malicious mischief and all broad form coverage, sign insurance, rent insurance and any other insurance including umbrella coverage that may be carried by Landlord covering any portion of the Shopping Center, all in limits selected by Landlord and the costs of financing any premium installment or the cost of paying any premium in installments; operation of loudspeakers and any other equipment supplying music to the Common Area or any parts thereof; operation of public toilets, if any; installing and renting of signs; maintenance and repair of utility systems serving the Common Area and any buildings in the Shopping Center, including water, sanitary sewer and storm water lines, electric and other utility lines and pipes; security costs; the cost of operating machinery and equipment owned in and used in the operation, policing, maintenance and repair of the Common Area or the rental charges for such machinery and equipment; holiday promotions and decorations; the cost of personnel (including applicable payroll taxes, workmen's compensation insurance and disability insurance) to implement all of the foregoing, including the policing of the Common Area; refurbishing the Common Area. Landlord may cause any or all of said services to be provided by an independent contractor or contractors. Common Area Maintenance Costs shall exclude the following:
Common Area Maintenance Costs means all costs and expenses of every kind paid or incurred during the terns of this Lease in connection with the operation and upkeep of the Common Area and facilities within the Building, and where necessary, the cost of replacing any of said common facilities and the cost of policing and protecting same. In addition to the foregoing, the Common Area Maintenance Costs may include a reserve fund of ten percent (10%) of the aggregate Common Area Maintenance Costs, which reserve fund will be put into an escrow account and accrue interest until such time as a major repair such as resurfacing the parking lot or major concrete drive replacement, where it shall be applied against such "MAJOR REPAIR COST". Also, in addition to the foregoing, the Common Area Maintenance Costs shall include but not limited to, maintenance; and repair costs, management fees, wages and fringe benefits payable to employees of Landlord whose duties are connected with the operation and maintenance of the Building and common areas, all services, supplies, repairs, replacements or other expenses for maintaining and operating the Building. Tenant's Pro Rata Share of the Common Area Maintenance Costs means that amount obtained by multiplying said Costs by a fraction, the numerator of which is the square foot area of the Leased premises and the "denominator of which is the gross leasable area of the Building. Tenant promises to pay as additional rent Tenant's Pro Rata Share of Common Area Maintenance Costs monthly in advance, on the first day of each calendar month in an amount estimated by Landlord as provided above. Landlord's failure to provide the statements shall not relieve Tenant of any liability hereunder.
Common Area Maintenance Costs means all direct costs and expenses reasonably paid or incurred by Landlord during the Lease Year in question in performing its obligations pursuant to Section 8.3. Notwithstanding the foregoing or anything to the contrary in this Lease, in no event shall "Common Area Maintenance Costs" include or shall Tenant otherwise be required to reimburse Landlord for any of the following: (i) the cost of repairing or replacing any portion of the Common Area or Landlord's Construction, the original construction of which was defective or not constructed substantially in accordance with the specifications approved by Tenant; (ii) any payments made by Landlord on account of assessments applicable to the Common Areas which either do not relate to installment payments which are payable during the Lease Term or on account of those assessments existing as of the Effective Date which are more particularly described in Exhibit F (except as may otherwise be required by Subsection 6.2C); (iii) any fee to or charge by Landlord or any other person and/or entity for management, supervision, profit and/or general overhead to the extent that the total of any such fees or charges for the billing period in question exceeds five percent (5%) of all other Common Area Maintenance Costs for the same period (excluding Real Estate Taxes, insurance premiums, and capital improvements); (iv) depreciation, ground lease payments, mortgage payments, or reserves; (v) interest and other cost and charges for Landlord's financing; (vi) late charges, penalties and unearned discounts occasioned by Landlord's late payments; (vii) promotional and advertising costs; (viii) costs incurred as a consequence of the act, default or negligence of Landlord, other occupants of the Shopping Center or their agents, employees and contractors; (ix) expenditures required to be capitalized under generally accepted accounting principles, except to the extent of the amortized cost of such item based on its useful life that is allocable to the billing period in question; (x) costs not reimburseable to Landlord by all other tenants of the Shopping Center; (xi) merchant association or similar dues and fees.
Examples of Common Area Maintenance Costs in a sentence
If Tenant fails to pay the Real Property Taxes on or before April 10 and December 10, respectively, or if Tenant fails to pay its share of Real Property Taxes as part of the Common Area Maintenance Costs, Tenant shall pay to Landlord any penalty incurred by such late payment.
Tenant shall pay Tenant’s Proportionate Share of Taxes in the same manner as provided above for Tenant’s Proportionate Share of Common Area Maintenance Costs.
Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Common Area Maintenance Costs are available for each calendar year.
Recommendation 5 outlines a number of steps that the Australian Government can and should take in order to fulfill these obligations in relation to trade.
Within one hundred twenty (120) days after the close of each calendar year or as soon after such 120-day period as reasonably practicable, Landlord shall deliver to Tenant a reasonably detailed statement of Common Area Maintenance Costs for such calendar year, certified by Landlord or its property manager, subject to Tenant's right to audit as hereinafter provided.
More Definitions of Common Area Maintenance Costs
Common Area Maintenance Costs means the total of all items of expense relating to operating, managing, equipping, policing and protecting (if Landlord so elects), lighting, repairing, replacing and maintaining the utility of the common facilities in the same condition as when originally installed (normal wear and tear excepted and excluding items of a capital nature). Such costs and expense shall include, but not be limited to, removal of rubbish, dirt and debris; costs of planting, replanting, and replacing flowers and landscaping, and supplies required therefore, costs of seasonal and permanent decorating, costs of painting and striping the parking lot and curbing, and all costs of utilities used in connection therewith, including, but not limited to, all costs of maintaining speed ramps (if any), lighting facilities, and storm drainage systems; the costs of heating and cooling the enclosed malls (if any), and all premiums for liability, property damage, and Worker’s Compensation insurance; wages, unemployment taxes, social security taxes, and personal property taxes; fees for required licenses and permits together with an administrative fee for Landlord equal to five percent (5%) of the total gross income received during the calendar year.
Common Area Maintenance Costs means the amount of Common Area Maintenance Costs for the applicable Lease Year in excess of the sum of S.66 per square foot. Roof, structural and parking lots are not Common Area Maintenance Costs.
Common Area Maintenance Costs means all costs and disbursements (subject to the limitations set forth below) that Landlord incurs in connection with the ownership, operation, maintenance, repair and replacement of the Project determined in accordance with sound accounting principles consistently applied, including the following costs: (a) wages and salaries of all on-site employees at or below the grade of senior building manager engaged in the management, operation, maintenance or repair of the Project or the control of access thereto (in each case together with Landlord’s reasonable allocation of expenses of off-site employees at or below the grade of senior building manager who perform a portion of their services in connection with the operation, maintenance or repair of the Project or the control of access thereto), including taxes, insurance and benefits relating thereto; (b) all supplies and materials used in the operation, maintenance, repair or replacement of the Project or the control of access thereto (including the Common Areas); (c) costs for improvements made to the Project, whether prior to or during Tenant’s tenancy in the Premises, which, although capital in nature, are (i) expected to reduce the normal Common Area Maintenance Costs (including all utility costs) of the Project as amortized using a commercially reasonable interest rate over the time period reasonably estimated by Landlord to recover the costs thereof taking into consideration the anticipated cost savings, as determined by Landlord using its good faith, commercially reasonable judgment, as well as (ii) improvements made in order to comply with any Law hereafter promulgated by any governmental authority or any interpretation hereafter rendered with respect to any existing Law, as amortized using a commercially reasonable interest rate over the useful economic life of such improvements as determined by Landlord in its reasonable discretion, as well as (iii) improvements made to improve the health, safety and welfare of the Building and its occupants, as amortized using a commercially reasonable interest rate over the useful economic life of such improvements as determined by Landlord in its reasonable discretion, as well as (iv) property repairs or replacements which provide a functional benefit for Tenant and the other tenants of the Project for the duration of their respective lease terms, as amortized using a commercially reasonable interest rate over the useful economic life of such repairs or replaceme...
Common Area Maintenance Costs means the total costs and expenses incurred in operating, maintaining and repairing the Common Areas. Tenant shall be responsible for one hundred (100%) percent of the Common Area Maintenance Costs for the Retail Building and sixty-five (65%) percent of the Common Area Maintenance Costs for the complex with the exception of the elevator maintenance contract for which the office tenants shall be one hundred (100%) percent responsible. The Common Area Maintenance Costs for the office building shall include:
Common Area Maintenance Costs means the total of all items of expense relating to operating, managing, equipping, policing and protecting (if Landlord so elects), lighting, repairing, replacing and maintaining the utility of the common facilities in the same condition as when originally installed (normal wear and tear excepted and excluding items of a capital nature). Such costs and expense shall include, but not be limited to, removal of rubbish, dirt and debris; costs of planting, replanting, and replacing flowers and landscaping, and supplies required therefore, costs of seasonal and permanent decorating, costs of painting and striping the parking lot and curbing, and all costs of utilities used in connection therewith, including, but not limited to, all costs of maintaining speed ramps (if any), lighting facilities, and storm drainage systems; the costs of heating and cooling the enclosed malls (if any), and all premiums for liability, property damage, and Worker’s Compensation
Common Area Maintenance Costs. (“CAM”)” shall mean the costs incurred by Lessor in the performance of its obligations hereof including but not limited to, utilities, the costs and expenses incurred in insuring the Building, providing wireless internet for the Building, operating, managing, equipping, cleaning, landscaping, mowing, snow removal, water, sewer, garbage removal, and otherwise maintaining the Common Areas and the Building. During the Term, Lessee shall pay to Lessor CAM in the amount of $ per month as additional rent (“Additional Rent”); provided, however, that CAM may be increased by Lessor in Lessor’s sole discretion upon thirty (30) days’ prior written notice of the increase to Lessee. CAM shall be due and payable on the 1st day of each month during the Term.
Common Area Maintenance Costs means all costs and expenses of every kind paid or incurred in connection with the operation and upkeep, of the Common Areas within the Property, including without limitation, the costs of cleaning and landscaping the Common Areas and where necessary the costs of improving, repairing or replacing any of the common facilities comprising the Common Areas or common improvements in the vicinity of the Property (as determined by Landlord) and the cost of policing and protecting same. In addition to the foregoing, the Common Area Maintenance Costs shall include maintaining the exterior maintenance of the Premises and buildings in the Property (including painting) and the common storm and sanitary sewage line, periodic resurfacing and repairing of the sidewalks, roadways, driveways and parkway areas. If Tenant is responsible for obstructions or stoppage of the common storm or sanitary sewage line, then Tenant shall pay the entire cost thereof on demand, as additional rent. The Common Area Maintenance Costs shall also include subdivision maintenance fees or dues, property owner's association fees or dues and similar charges, direct and indirect costs or labor, personal property taxes, licenses and permits, supplies and equipment, used or related to the operation and maintenance of the Common Areas. Nothing in this Subparagraph 14 shall obligate Landlord to provide any services or facilities not otherwise required to be provided elsewhere in this Lease.