COMMON OPERATING EXPENSES DEFINED definition
COMMON OPERATING EXPENSES DEFINED. The term "Common Operating Expenses" shall mean the following:
COMMON OPERATING EXPENSES DEFINED. The term "Common Operating Expenses" shall mean all costs and expenses incurred by Landlord with respect to the operation, protection, improvement, maintenance, repair and replacement of the Project, including, without limitation, the following: (i) the operation, repair, maintenance and replacement of the roof (excluding replacement of the roof structure and/or membrane), the exterior surfaces and interior improvements of all buildings located on the Project, the roof mounted HVAC equipment, utility facilities and other building service equipment, and the Common Area; (ii) reserves and aside for Common Operating Expenses or for maintenance, repair and/or replacement of the Common Area; (iii) the amounts of any "deductible" and "coinsurance" paid by Landlord with respect to damage caused by an "Insured Peril" (as hereafter defined) or amounts incurred in connection with an "Uninsured Peril" ( as hereinafter defined) up to a minimum amount in any twelve (12) month period equal to two percent (2%) of the replacement cost of the building or other improvements damaged; and (v) reasonable management fees. Specifically excluded from Operating Expenses (to the extent provided below) shall be the following: