Common Area Operating Costs definition

Common Area Operating Costs is defined in Section 5.4.

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Common Area Operating Costs means all costs and expenses of every kind and nature incurred by Landlord pursuant to the REA for owning, operating, maintaining, managing, equipping, insuring, securing, repairing, replacing, restoring and making improvements to the Common Area, including, but in no way limited to, the following (which are for broad general illustration purposes only):

Common Area Operating Costs means, for each calendar year (or portion thereof) during the term of this Lease, the aggregate of all costs, expenses and liabilities of every kind or nature paid or incurred by Landlord (to the extent that Landlord, in its good faith judgment, regards it as reasonably necessary or appropriate to provide the services and materials hereafter referred to and to pay and incur the costs, expenses and liabilities hereafter referred to) in connection with: sweeping, cleaning, removing debris from, maintaining, restriping and repairing the Common Area; lighting the Common Area (including replacement of bulbs and ballasts, and painting, repairing and maintaining of light standards); providing project identification signs; providing signs and/or personnel for assisting in traffic control and management at the Common Area; constructing, operating and repairing and maintaining any on-site or off-site utilities necessary or appropriate for the operation of the Common Area; providing security services, if any, with respect to the Common Area; utilities charges for any services to the Common Area; repairing and maintaining the roof of the Leased Premises and the building of which they are a part (including repairs to provide for adequate drainage and to gutters and downspouts); repairing and maintaining the structural portions of the Leased Premises and the building of which they are a part; repairing and maintaining utility lines located in the Common Area; exterminating and pest control in and about the Leased Premises and Development; periodic repainting of exterior walls of the building comprising a portion of the Development (including steam cleaning or sandblasting thereof or other graffiti-removal procedures); repairing and maintaining overhead canopies at the Development (including, without limitation, lighting and tile); repairing and maintaining sprinklers and sprinkler-risers serving the Leased Premises and the building of which they are a part; repairing and maintaining sidewalks in the Common Area (including, without limitation, periodic steam cleaning thereof); management fees which shall not exceed 5% of the annual gross revenues for the building, wages and fringe benefits payable to employees of Landlord or Landlord’s Agent whose duties are connected with the operation and maintenance of the building and/or Development; plus all other costs and expenses of every kind or nature paid or incurred by Landlord relative to operating, managing and equipping th...

Examples of Common Area Operating Costs in a sentence

Such grossed-up adjustments shall be made by Landlord by increasing those costs included in the Building Operating Costs and/or Common Area Operating Costs which, according to industry practice but depending on the specific situation of the Building or the Park Place Project, vary based upon the level of occupancy of the Building or the Park Place Project.
Building Operating Costs and Common Area Operating Costs relating to periods of the Term that fall partly within any Calendar Year shall be reasonably allocated between such Calendar Years.
If the agreed or confirmed audit shows an underpayment of Building Operating Costs or Common Area Operating Costs by Tenant, Tenant shall pay to Landlord, within thirty (30) days after the audit is agreed to or confirmed, the amount of such underpayment, and, if the agreed or confirmed audit shows an overpayment of Building Operating Costs or Common Area Operating Costs by Tenant, Landlord shall reimburse Tenant for such overpayment.
Upon request of Tenant, Landlord shall provide Tenant with a reasonably detailed description of how the Building Operating Costs and Common Area Operating Costs were grossed up.
The amount of such Fitness Center subsidy provided by Landlord or its Affiliates shall be part of Common Area Operating Costs (but shall be excluded from Base Common Area Operating Costs).

More Definitions of Common Area Operating Costs

Common Area Operating Costs shall be defined as the amount of Operating Costs allocable to the Common Areas in any Operating Year. All Operating Costs incurred by Landlord in respect of the Complex shall be allocated, in Landlord's reasonable judgment, among the Building, the other buildings of the Complex, and the Common Areas.

Common Area Operating Costs shall include the total cost and expense incurred by Landlord in operating, lighting, striping, maintaining, cleaning, landscaping, repairing (including replacement and resurfacing) managing, signing, equipping and insuring the Common Areas within Lot No. 47.07 plus ten (10%) percent of the foregoing costs to cover Landlord’s administrative and overhead costs. Such costs and expenses shall include, without limitation (including appropriate reserves): cleaning; fire and police protection and general security (Landlord not incurring or assuming any obligation to provide such protection or security or any liability for the failure of the same); repairing and replacing paving; keeping the Common Areas supervised, drained, reasonably free of snow, ice, rubbish and other obstructions, and in a neat, clean, orderly and sanitary condition; the charges for rubbish containers and removal (except that at Landlord’s option, Tenant shall be directly responsible for contracting for and for providing (subject to Landlord’s approval, not to be unreasonably withheld, of the provisions and conditions of the agreement therefor) rubbish containers and removal); the maintenance of any and all fire protection systems servicing Lot No. 47.07; the cost of public liability insurance; keeping the Common Areas suitably lighted; maintaining signs (other than Tenant’s signs), markers, painted lines delineating parking spaces, and other means and methods of pedestrian and vehicular traffic control; installing, maintaining and repairing of onsite and offsite traffic controls; maintaining adequate roadways, entrances and exits; maintaining any plantings and landscaped areas; Lot No.

Common Area Operating Costs and shall include all of the costs and expenses referred to in Section 6.5; provided, however, that the Owners of Parcel 10 or Parcel 4 shall have no obligation to pay any costs for replacement of "capital expense items" unless such Owner elects to have the Manager replace such items on the Common Area of its Parcel; all utility expense incurred in the Common Area for lighting, watering and maintaining the same; the utility expense for all monument and pylon signs in the Shopping Center; and, a management fee to the Manager equal to ten percent (10%) of the Common Area Operating Costs; provided, however, PACE and HD shall have no obligation to pay its pro rata share of more than five percent (5%) of the Common Area Operating Costs as a management fee. Except for the management fee, the Common Area Operating Costs shall not include any profit.

Common Area Operating Costs means all reasonable costs and expenses incurred or payable by Landlord in operating and maintaining the Common Areas (defined later) as may be reasonable, normal, and customary, but does not include costs or expenses excluded from Common Area Operating Costs elsewhere in this Lease, either expressly or impliedly. All Common Area Operating Costs shall be determined in accordance with generally accepted accounting principles, which shall be consistently applied. The Common Area Operating Costs shall be net and for that purpose shall be deemed reduced by the amount of any insurance reimbursement, other reimbursement, recoupment, payment, discount, credit, reduction, allowance, or the like received or receivable by the Landlord in connection with such Common Area Operating Costs.

Common Area Operating Costs means the total costs and expense (other than the cost properly chargeable to capital account except as herein specifically provided) incurred in operating, managing (including property management fees), maintaining, repairing, relocating, modifying, renovating and replacing the common facilities hereinafter defined, including without limitation the costs of maintaining roof, walls, foundations, detention ponds, porches, sprinkler system, irrigation system, fire system, utility lines and resurfacing or patching the parking areas and labor associated with line painting, sidewalks and curbs, security and traffic control, ID signage, security alarm systems, public liability and umbrella insurance, gardening, watering and landscaping, lighting, maintenance of sanitary control, all costs for utilities to common areas, removal of snow, ice, drainage, rubbish, and other refuse, costs to remedy and/or comply with governmental and/or environmental and hazardous materials laws, regulations, ordinances or rules, repair or installation of equipment for energy‑saving or safety purposes, reserves for future maintenance and repair work (which Tenant hereby authorizes Landlord to use as necessary), any costs associated with any merchants’ association for the Shopping Center, depreciation on equipment and machinery used in maintenance, cost of personnel required to provide such services, all costs and expenses associated with Landlord’s obligation to repair and maintain the areas described in the agreement (if any), and such other items of cost and expense which are relatable to proper maintenance of the common facilities, plus ten percent (10%) of all of the foregoing costs to cover administrative cost relative to the common facilities.

Common Area Operating Costs means (1) the pro rata portion, allocated on the basis of the ratio which the area of the Building Parcel bears to the then area of the Office Park, of the expenses of the operation, maintenance and repair of the Common Areas of the Office Park in accordance with the Protective Covenants, (2) insurance premiums for insurance carried by Landlord on the Building or the Building Parcel, (3) the cost of landscape maintenance on the Building Parcel and periodic painting and repair of the exterior of the surface of the Building, (4) repair and maintenance of the roof of the Building (including the roof membrane and exterior of the Building), and (5) all expenses paid or incurred by Landlord for maintaining, operating and repairing the Common Areas (as defined in (b) through (e) of Section 4.1), the Building and the Building Parcel and the equipment and personal property used in conjunction therewith, including, without limitation, the costs of compliance with Governmental Requirements, the costs of refuse collection, water, sewer, electricity, and other utilities services, supplies and cleaning services, services of independent contractors, compensation (including employment taxes and fringe benefits) of all persons who perform duties in connection with the operation, maintenance and repair of the Common Areas and its equipment, the maintenance and repair of parking areas, curbs, landscaping, lighting and outdoor facilities, licenses, permits and inspection fees, taxes, liability insurance for the Office Park including the Building, property management fees, legal and accounting expenses and any other expense or charge whether or not hereinabove described which in accordance with generally accepted accounting and/or property management practices would be considered an expense of maintaining, operating or repairing the Common Areas, the Building or the Building Parcel, excluding: (1) Costs of any special services rendered to individual tenants (including Tenant) for which a special charge is made; and (2) Real Property Taxes (as defined in Section 3.3 of this Lease). (3) Repairs required to be made by Landlord at Landlord's expense pursuant to Section 6.1.