Common Area Operating Expenses definition
Examples of Common Area Operating Expenses in a sentence
Concurrently with ▇▇▇▇▇▇’s execution and delivery of this Lease, Tenant shall pay to Landlord the amount of Eighty-Six Thousand Nine Hundred Fifty-Three and 44/100 Dollars ($86,953.44) representing Tenant’s first installment of Base Rent and Tenant’s Share of estimated Common Area Operating Expenses due for the Original Term.
Base Rent and Common Area Operating Expenses shall be abated for the period of repair and restoration commencing on the date of such casualty event in the proportion which the area of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises.
Landlord shall pay the Real Property Taxes, as defined in Paragraph 9.2, applicable to the Industrial Center, and except as otherwise provided in Paragraph 9.3, any such amounts shall be included in the calculation of Common Area Operating Expenses in accordance with the provisions of Paragraph 3.2.
At Landlord’s option, Landlord may maintain a telephone line or lines in Landlord’s name for a security alarm system and/or fire-life/safety system for the Building, the cost of which shall be included in Common Area Operating Expenses.
However, Landlord reserves the right, upon notice to Tenant, to procure and maintain the contract for the heating, air conditioning and ventilating systems and to maintain a contract for fire/life safety inspections, repairs and monitoring, and, if Landlord so elects, Tenant shall reimburse Landlord upon demand for the cost thereof or as part of Common Area Operating Expenses.