Controllable Operating Expenses definition
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.
Controllable Operating Expenses means all Operating Expenses other than Taxes, insurance premiums, and utility costs and expenses.
Controllable Operating Expenses means those Project Operating Expenses for which increases are reasonably within the control of Landlord, and shall specifically not include, without limitation, Taxes, assessments, refuse and or trash removal, insurance, collectively bargained union wages, electricity and other utilities. There shall be no limitation on the amount of increase from year to year on Project Operating Expenses which are not Controllable Operating Expenses.
Examples of Controllable Operating Expenses in a sentence
For clarity, Controllable Operating Expenses for the calendar year 2027 will be capped at one hundred and five percent (105%) of the Controllable Operating Expenses for the calendar year 2026, Controllable Operating Expenses for the calendar year 2028 will be capped at one hundred and ten percent (110%) of the Controllable Operating Expenses for the calendar year 2026, and so on throughout the Term and any Renewal Terms.
Landlord hereby agrees that the Controllable Operating Expenses (as defined below) included in Operating Expenses for any calendar year during the term of this Lease after the Base Year will not exceed the Controllable Operating Expenses included in Base Year Operating Expenses plus (for each calendar year after the Base Year) five percent (5%) per annum, on a non-compounded, non-cumulative basis.
More Definitions of Controllable Operating Expenses
Controllable Operating Expenses means all Operating Expenses except for the following: (i) license and permit fees of any nature; (ii) utility company charges; (iii) insurance premiums; (iv) the cost to remove snow and ice; (v) increased labor costs due to the requirement for use of labor subject to collective bargaining, which requirement was not in effect as of the Lease Commencement Date; (vi) costs of compliance with governmental requirements; and (vii) contractually mandated increases in costs.
Controllable Operating Expenses means all Operating Expenses other than Uncontrollable Operating Expenses; and
Controllable Operating Expenses means all items of Operating Expenses which are within the reasonable control of Landlord; thus, excluding Real Property Taxes, insurance, utilities, and other costs beyond the reasonable control of Landlord. The limit on the increases in Controllable Operating Expenses shall continue during any renewal or extended Term, using the year 2000 as the base year to calculate the applicable limit.
Controllable Operating Expenses means all Landlord’s Operating Expenses, the cost of which are within the reasonable control of Landlord. “Controllable Operating Expenses” shall exclude, without limitation: management fees, premiums for insurance, union related labor costs (or the cost of contracts dependent on union related labor costs), snow removal costs, security costs, Permitted Capital Expenditures, costs of water, sewer, electric, gas, oil or steam and other utility or regulatory charges and expenses which are caused by reason of changes in law. In the event that, with respect to any calendar year during the Term, the amount of Controllable Operating Expenses exceeds 105% of the limit on Controllable Operating Expenses for the preceding calendar year (pro-rated for any fraction of a calendar year), calculated as provided above, then such excess may be added to and included within Controllable Operating Expenses for any subsequent calendar year or fraction thereof during the Term in which 105% of the limit on Controllable Operating Expenses for the preceding calendar year exceeds the amount of Controllable Operating Expenses for such calendar year (pro-rated for any fraction of a calendar year), for as long as and to the extent necessary to allow Landlord to recover Landlord’s Operating Expenses excluded pursuant to the foregoing provisions of this Section 2.6. Notwithstanding anything contained herein to the contrary, Landlord hereby agrees that over the course of the Lease Term it will not collect more than one hundred percent (100%) of Landlord’s Operating Expenses allocable to such time period.
Controllable Operating Expenses means all Operating Expenses reasonably subject to Landlord’s control but in no event including utilities (such as, without limitation, electricity, natural gas, culinary and landscaping water, sanitary sewer and storm sewer charges), insurance, taxes, snow and ice removal.
Controllable Operating Expenses means all Operating Expenses, except for insurance premiums, utilities, all taxes including, without limitation, real estate taxes, personal property taxes and other governmental assessments and impositions, snow removal and non-recurring costs not within Landlord’s reasonable control that are not otherwise excluded from the definition of Operating Expenses. In no event shall there be any annual limit on increases to Tenant’s Proportionate Share of Operating Expenses which are not Controllable Operating Expenses.
Controllable Operating Expenses shall consist of those Operating Expenses which are within Landlord’s reasonable control. Taxes, common area utility costs, insurance premiums and the cost of snow removal shall not be considered to be Controllable Operating Expenses. Tenant’s obligations to pay increases in Taxes, Insurance Premiums and Operating Expenses shall be each calculated separately and shall for all purposes be treated and considered as additional rent. (Fixed Rent plus additional rent are herein referred to collectively as “Rent”.) Tenant shall pay, in monthly installments in advance, on account of Tenant's Share of Taxes, Insurance and Operating Expenses, one-twelfth of the estimated amount of the increase of such Taxes, Insurance Premiums and Operating Expenses for such year in excess of the Base Year as reasonably determined by Landlord. Prior to the end of the calendar year in which the Lease commences and thereafter for each successive calendar year (each, a "Lease Year"), or part thereof, Landlord shall send to Tenant a statement of projected increases in Taxes, Insurance Premiums and Operating Expenses in excess of the Base Year and shall indicate the respective amounts of Tenant’s estimated monthly installments of Taxes, Insurance Premiums and Operating Expenses. As soon as administratively available, Landlord shall send to Tenant a statement of actual Taxes, Insurance Premiums and Operating Expenses for the prior calendar year showing the actual amount of Tenant’s Share of each for the prior calendar year. In the event the amount prepaid by Tenant for Taxes, Insurance or Operating Expenses exceeds the amount that was actually due for that item, then Landlord shall issue a credit to Tenant in an amount equal to the over charge, which credit Tenant may apply to future payments on account of that item until Tenant has been fully credited with the over charge. In the event Landlord has undercharged Tenant, then Landlord shall send Tenant an invoice with the additional amount due, which amount shall be paid in full by Tenant within thirty (30) days of receipt.