Controllable CAM Expenses definition
Controllable CAM Expenses means all Shoppes CAM and Shopping Center CAM expenses, excepting and excluding utility expenses, insurance expenses, and costs of snow and ice removal.
Controllable CAM Expenses means all CAM Area Operating Expenses other than (1) insurance, (2) snow removal costs and expenses, (3) supply of utilities to the CAM Area, and (4) the repair capital expenses in connection with the CUC. For the avoidance of doubt, the amortized portion of all capital expenses included in CAM Area Operating Expenses shall be included in the Controllable CAM Expenses and shall be subject to the CAM Cap, except as excluded in the preceding sentence. As set forth in Section 12 of this Lease, the cost of utilities provided by Landlord to Tenant and the cost of the operation, maintenance and repair of the CUC (as set defined herein) is a separate cost paid by Tenant to Landlord and shall not be construed as a part of the CAM Area Operating Expenses other than the repair capital expenses in connection with the CUC which are included in CAM Area Operating Expenses. Landlord agrees that the Controllable CAM Expenses for the first calendar year of the Term, for which all future escalations of Controllable CAM Expenses shall be based, shall not exceed the lesser of (A) the actual Controllable CAM Expenses incurred by Landlord for such calendar year, and (B) an estimated amount per square foot to be determined by the parties pursuant to a certain side letter executed simultaneously herewith multiplied by [**] percent ([**]%) (even if the actual Controllable CAM Expenses for the first calendar year of the Term exceeds this figure).
Examples of Controllable CAM Expenses in a sentence
Notwithstanding anything to the contrary in this Lease, Controllable CAM Expenses for each year of the Lease shall not increase by more than ten percent (10%) in excess of the Controllable CAM Expenses for the preceding lease year.
For purposes of this Section, "Controllable CAM Expenses" shall mean all Shoppes CAM and Shopping Center CAM expenses, excepting and excluding utility expenses, insurance expenses, and costs of snow and ice removal.
Landlord and Tenant have complied with the terms of the Side Letter and have reach an agreement as to the estimated amount per square foot of Controllable CAM Expenses for the first calendar year of the Term and, by this First Amendment, amend the Lease to memorialize this figure.