Common Area Operating Cost definition

Common Area Operating Cost means the Landlord's total cost and expense incurred in owning, operating, maintaining and repairing the Common Area, including but without limitation by enumeration, costs for all electricity, gas, water, sewer or fuel used in connection with the operation, maintenance and repair of the Common Area; the amount paid for all electricity furnished to the Common Area to light the parking lots or for any other purpose; the amount paid for all labor and/or wages and other payments including costs to Landlord of workmen's compensation and disability insurance, payroll taxes, welfare and fringe benefits made to janitors, employees, contractors and subcontractors of the Landlord involved in the operation and maintenance or the Common Area; managerial, administrative and telephone expenses related to operation and maintenance of the Common Area; the total charges of any independent contractors employed in the care, operation, repair, maintenance, cleaning, snow removal, salting and landscaping of the Common Area; the amount paid for all supplies, tools, replacement parts of components, equipment and necessities which are occasioned by everyday wear and tear of the Common Area; the amount paid for premiums for all insurance required from time to time by Landlord or Landlord's mortgagees; the costs of machinery and equipment purchased or leased by Landlord to perform its Common Area maintenance obligations; and property management fees not to exceed five percent (5%) of the gross income of the Center. To the extent that Landlord elects to provide services which are not separately metered or directly billed to the tenant, such as water, sewer and trash hauling, the costs of such services shall be included in Common Area Operating Cost. Common Area Operating Cost shall not, however, include interest on debt, capital retirement of debt, depreciation, costs properly chargeable to the capital account, except for capital expenditures which reduce other operating expenses or such capital expenditures that are required by changes in any governmental law or regulation in which case such expenditures, plus interest on the unamortized principal investment at ten (10%) percent per annum, shall be amortized over the life of the improvements, and such costs shall be directly chargeable by the Landlord to Tenant in the Tenant's Prorata Share (or, Tenant's Proportionate Share in the event there is more than one Building in the Center).
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Common Area Operating Cost means the Landlord's total cost and expense incurred in owning, operating, maintaining and repairing the Common Area, including but not limited to: costs for all electricity, gas, water, sewer or fuel used in connection with the operation, maintenance and repair of the Common Area; lighting costs; labor costs, including Landlord's share of workmen's compensation and disability insurance, payroll taxes and fringe benefits; managerial, administrative and telephone expenses, related to the Common Area; snow removal, salting and landscaping of Common Area; property management fees not to exceed five percent (5%) of gross income of Center; and all other expenses of maintenance and repair of the Common Area, To the extent that Landlord elects to provide services which are not separately metered or directly billed to Tenant, such as water, sewer and trash hauling, the costs of such services shall be included in Common Area Operating Cost. Common Area Operating Cost shall not, however, include interest on debt, capital retirement of debt, depreciation, costs properly chargeable to the capital account, except for capital expenditures which reduce other operating expenses or such capital expenditures that are required by changes in any governmental law or regulation in which case such expenditures, plus interest on the unamortized principal investment at ten (10%) percent per annum, shall be amortized over the life of the improvements, and such costs shall be directly chargeable by the Landlord to Tenant in the Tenant's Share (or, Tenant's Proportionate Share in the event there is more than one Building in the Center and the costs are not billed separately for the Premises).
Sample 1
Common Area Operating Cost means the total cost and expense incurred in operating and maintaining, equipping, policing, protecting, lighting, repairing and replacing the Common Facilities, actually used or available for use by tenants and the employees, agents, servants and other invitees of tenants, excluding carrying charges, "on-site employee expenses" and management fees or Landlord administrative fee, but specifically including fire and other casualty, public liability and property damage insurance, real estate taxes and assessments, security personnel and equipment, utility charges, heating and air conditioning, on and off-site traffic control, directories, repairs, line painting, lighting, and sanitary control. Notwithstanding the above, the following items are to be specifically excluded from "Common Area Operating Cost":
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Examples of Common Area Operating Cost in a sentence

  • The cost of the Casualty Policy shall be a Common Area Operating Cost.

  • If at any time the size of the Premises changes, then Tenant's Operating Cost Share for the Building in which the change has occurred shall be adjusted to be equal to the percentage determined by dividing the gross square footage of the Premises in such Building as they exist from time to time by the gross square footage of the relevant Building, and the Tenant's Exterior Common Area Operating Cost Share shall be equitably adjusted accordingly.

  • Tenant to pay its pro rata for units serviced, which cost shall be included as part of Tenant's monthly share of the Common Area Operating Cost.

  • A small amount of due diligence in the beginning of a project can go a long way in helping to avoid unlicensed (and thus, unqualified) contractors and potentially defective construction work.

  • Tenant will pay to Landlord as Additional Rent Tenant's Share (or, Tenant's Proportionate Share in the event there is more than one Building in the Center and the expenses are not billed separately for the Premises) of the Common Area Operating Cost.

  • The cost of any security services contracted for by Landlord shall be treated as a Common Area Operating Cost pursuant to Article 20 hereof.

  • The premiums for said policy or policies, or, if a policy is part of a blanket policy, the amount of the premium (including any amount for the waiver of subrogation set forth below) allocable to the Building, or, if Landlord shall self insure in whole or part, premiums which would be attributable to the self-insured portion, shall be a Common Area Operating Cost as set forth in Section 3.4. The proceeds of said insurance shall be adjusted by and payable solely to Landlord or its lenders.

  • As used in this Lease, the term "Annual Common Area Operating Cost" shall mean the total of all reasonable costs and expenses of every kind and nature incurred in each fiscal year by Landlord, with respect to assets shared by the Parties and not otherwise maintained by Tenant in a manner determined by Landlord, in its sole discretion, to be reasonable and appropriate.

  • Intuit will reimburse and indemnify Contractor for any such taxes and contributions and interest and penalties that Contractor may be compelled to pay on account of Intuit’s non-payment.

  • When such a box is provided, the box shall have a 6” CI frame and cover over the valve operator to allow operation of the valve from ground level and the valve shall be NRS type.


More Definitions of Common Area Operating Cost

Common Area Operating Cost means the total cost and expense incurred in operating and maintaining the Common Area of the complex, actually used or available for use by Tenant. Specifically all areas, space, equipment and special services provided or caused to be provided by Landlord for the common use and joint benefit of the tenants, including without limitation, parking areas, access roads, walls, driveways, retaining walls, gardening and landscaped areas, reserves for maintenance and repairs and replacements of Common Area improvements (i.e., roof and roof membrane and stnictural portions of the Building, etc.), property management fees, truck service ways or tunnels, loading docks, ramps and sidewalks, line painting, sanitary control, removal of trash and rubbish from the complex, sign pylons, fountains and the cost of personnel to implement such services.
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Common Area Operating Cost means the total cost and expense incurred in operating and maintaining the Common Areas for which it is responsible (whether or not such cost or expense is considered a capital charge), specifically including, without limitation, the costs and expenses for: supplies, utilities for lighting and cleaning the Common Areas, and enclosed Common Areas of the
Sample 1
Common Area Operating Cost means the total cost and expense incurred in connection with the ownership, maintenance, repair, replacement and operation of Common Areas, specifically including, without limitation, the costs and expenses for utilities for lighting and cleaning the Common Areas, watering vegetation, and temperature control in interior Common Areas; personal property taxes and assessments on the Common Area personalty and equipment; real property taxes and assessments on the land and improvements comprising the exterior Common Areas (to the extent not included in subparagraph (c) below; premiums for insurance covering exterior Common Areas, including fire and extended coverage, all risk public liability and property damage, rental abatement insurance, earthquake insurance and such other insurance as may otherwise be required by the first mortgagee of the Building or by the Landlord in the exercise of its discretion, maintenance, repair and replacement (including capital charges) of Common Area pavement, sidewalks, walls, roofs, fences, curbs and bumpers, floor and wall coverings in interior Common Areas, and all interior and exterior directional signs; gardening and the maintenance and replacement of landscaping and irrigation systems; striping and line painting; sweeping, sanitary and flood control, removal of snow, ice, trash, rubbish, garbage, and other refuse; cleaning, repair and replacement of lighting fixtures including bulbs and ballasts; depreciation on, or rentals for, machinery and equipment used in such maintenance; management fee (not to exceed five percent (5%); the cost of supplies and personnel (and salaries, uniforms, workmen's compensation insurance, group insurance, fidelity bonds and other fringe benefits) to implement such service, to direct parking, and to police the Common Areas; repair of all utility lines, custodial service for interior Common Areas, all cost required by a governmental entity for energy conservation, life safety or other purposes or made by Landlord to reduce operating expenses; fees required for licenses and permits relating to the operation of parking areas, and fifteen percent (15%) of all the foregoing costs (except for the cost of taxes and insurance) to cover administrative and overhead expenses. Any of the services which may be included in the computation of the Common Area operating costs may be performed by subsidiaries or affiliates of Landlord, provided that the contracts for the performance of such services shall be co...
Sample 1
Common Area Operating Cost means the Landlord's total cost and expense incurred in owning, operating, maintaining and repairing the Premises, the Building and Tenant's Proportionate Share of the Center's common areas only. In no event will Tenant be responsible for the payment of any costs and expenses associated with the administration, management, operation, maintenance and repair of any other building in the Center or service provided to any other tenant within the Center, including but without limitation by enumeration, costs for the total charges of any independent contractors employed in the care, operation, repair, maintenance, cleaning, and landscaping of the Common Area; the amount paid for all supplies, tools, replacement parts of components, equipment and necessities which are occasioned by everyday wear and tear of the Common Area; the costs of machinery and equipment purchased or leased by Landlord to perform its Common Area maintenance obligations; and reasonable property management fees not to exceed five percent (5%) of the gross income of the Center. Common Area Operating Cost shall not, however, include interest on debt, capital retirement of debt, depreciation, costs properly chargeable to the capital account, except for capital expenditures which reduce other operating expenses or such capital expenditures that are required by changes in any governmental law or regulation in which case such expenditures, plus interest on the unamortized principal investment at ten (10%) percent per annum, shall be amortized over the life of the improvements, and such costs shall be directly chargeable by the
Sample 1

Related to Common Area Operating Cost

  • 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:

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

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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 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.

  • Base Operating Costs means Operating Costs for the calendar year specified as the Base Year in the Basic Lease Information (excluding therefrom, however, any Operating Costs of a nature that would not ordinarily be incurred on an annual, recurring basis).

  • 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

  • Project Common Areas as used in this Lease, shall mean the portion of the Project designated as such in the Site Plan. The Project Common Areas shall consist of all parking facilities, entrances and exits, driveways, exterior walkways, first-class landscaped and hardscaped areas which are generally consistent with the quality of landscaped and hardscaped areas of Comparable Buildings in existence as of the date of this Lease, open space areas and plazas on the real property comprising the Project. The term "BUILDING COMMON AREAS," as used in this Lease, shall mean the portions of the Common Areas located within any building in the Project not entirely leased by Tenant, which Building Common Areas shall be reasonably designated as such by Landlord. Notwithstanding the foregoing and subject to (i) Landlord's approval, which approval (as indicated in Section 29.4 below) shall not be unreasonably withheld or delayed, (ii) the CC&R's, and (iii) all terms of this Lease regarding Hazardous Materials, Tenant may install or locate such items as benches, patio tables, bike racks, above-ground generators, security cameras and the like (collectively, "MISCELLANEOUS COMMON AREA ITEMS") at Tenant's sole cost in the Common Areas or on the exterior of the Building, as applicable, provided that Tenant removes such items upon the expiration or earlier termination of this Lease and repairs any damage to the Common Areas or the exterior of the Building (as applicable) resulting from such removal. If Tenant fails to remove any Miscellaneous Common Area Item or to repair any damage resulting from such removal upon the expiration or earlier termination of this Lease, Landlord may do so and may charge Landlord's actual cost thereof to Tenant. The manner in which the Common Areas are maintained and operated shall be in accordance with a standard which is not less than that customarily followed in the operation and maintenance of first class mid-rise office buildings located within the University Towne Center (i.e., the area from two (2) blocks to the North of La Jolla Village Drive to two (2) blocks to the South of La Jolla Village Drive between the I-5 and I-805 freeways), Del Mar, Carmel Valley and Torrey Hills geographical areas, provided that Landlord shall manage, maintain and operate the same in a manner consistent with that of Comparable Buildings, and the use thereof shall be subject to such rules and regulations as Landlord reasonably may make from time to time. As used herein, "COMPARABLE BUILDINGS" shall mean the first class mid-rise office buildings (now existing or subsequently constructed) within the projects located within the University Towne Center, Del Mar, Carmel Valley and Torrey Hills geographical areas and having substantially similar characteristics to the Building pertaining to size, age, accessibility, design, quality, amenities and tenancies. Landlord reserves the right to make alterations or additions to, or to change the location of, elements of the Project and the Common Areas, provided that if any such changes might affect Tenant's use of the Premises (in other than an immaterial manner), Landlord obtains Tenant's prior written approval of any such alterations, additions and changes and such alterations, additions and changes do not unreasonably interfere with Tenant's access to the Premises. Except when and where Tenant's right of access is specifically excluded in this Lease, Tenant shall have the right of access to the Building and the parking facilities twenty-four (24) hours per day, seven (7) days per week during the Lease Term. PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems]

  • Base Operating Expenses means the Operating Expenses for the Base Year.

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • mixed-use building means a building or structure containing a residential and non- residential use other than a home occupation;

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Parking Area means the area designated as a permitted parking area and a special parking area by the Road Traffic (Permitted Parking Area and Special Parking Area) (Angus Council) Designation Order 2017; and “permitted parking area” and “special parking area” are to be read accordingly;”; and

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • Building Project means the aggregate combined parcel of land on a portion of which are the improvements of which the Premises form a part, with all the improvements thereon, said improvements being a part of the block and lot for tax purposes which are applicable to the aforesaid land.

  • Base Building shall include the structural portions of the Building, the public restrooms and the Building mechanical, electrical and plumbing systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located. Tenant shall promptly provide Landlord with copies of any notices it receives regarding an alleged violation of Law. Tenant shall comply with the rules and regulations of the Building attached as Exhibit E and such other reasonable rules and regulations adopted by Landlord from time to time, including rules and regulations for the performance of Alterations (defined in Section 9).

  • Building Square Footage or "BSF" means the square footage of assessable internal living space of a Unit, exclusive of any carports, walkways, garages, overhangs, patios, enclosed patios, detached accessory structure, other structures not used as living space, or any other square footage excluded under Government Code Section 65995 as determined by reference to the Building Permit for such Unit.

  • Rentable Area of Premises on Page 1 of the Lease shall be deleted in their entirety and replaced with the following:

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • 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;

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • heritage building means a Building designated under Part IV of the Ontario Heritage Act, R.S.O. 1990, c. O.18, or any successor legislation, or a Building designated under Part V of the Ontario Heritage Act,R.S.O. 1990, c. O.18, or any successor legislation, which has been identified as a significant heritage resource in a conservation district plan and any Building listed in the Markham Register of Property of Cultural Heritage Value of Interest;