Excess Operating Costs definition

Excess Operating Costs means the amount by which the Net Interim Period Operating Costs exceeds the Maximum Interim Period Operating Costs. For the avoidance of doubt, if the Net Interim Period Operating Costs are less than or equal to the Maximum Interim Period Operating Costs, the Excess Operating Costs shall equal zero (0).

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Excess Operating Costs means any excess of (i) Landlord's Operating Costs for any calendar year over (ii) the Operating Cost Stop multiplied by Total Square Footage. b. Tenant shall pay, in equal monthly installments, Tenant's Pro Rata Share of any estimated Excess Operating Costs for each calendar year which falls (in whole or in part) during the Lease Term (prorated for any partial calendar year at the beginning or end of the Lease Term). Annually, or from time to time, based on actual and projected Operating Cost data, Landlord may adjust its estimate of Operating Costs upward or downward. Within 30 days after notice to Tenant of a revised estimate of Operating Costs, Tenant shall remit to Landlord a sum equal to any shortage of the amount which should have been paid to date for the then current calendar year based on the revised estimate, and all subsequent monthly estimated payments shall be based on the revised estimate. c. As soon as possible, after the first day of each year Landlord shall compute the actual Operating costs for the prior calendar year, and shall give notice thereof to Tenant. Within 30 days after receipt of such notice, Tenant shall pay any deficiency between estimated and actual in Tenant's Pro Rata Share of any Excess Operating costs for the prior calendar year (prorated for any partial calendar year at the beginning or end of the Lease Term). In the event of overpayment by Tenant, Landlord shall apply the excess to the next payment of Rent when due, until such excess if exhausted or until no further payments of Rent are due, in which case, Landlord shall pay to Tenant the balance of such excess within 30 days thereafter. Tenant or its representatives shall have the right, upon reasonable notice, to examine Landlord's books and records with respect to the Operating Costs at the management office during normal business hours at any time within 30 days following the delivery by Landlord to Tenant of the notice of actual Operating Costs. Tenant shall have an additional 10 days to file any written exception to any of the Operating costs.

Excess Operating Costs means any increase in Operating Costs (defined below) for each year and partial year of the Term over the Operating Costs incurred during the Base Year. Landlord may make a good faith estimate of Excess Operating Costs to be due by Tenant for any calendar year or part thereof during the Term. During each calendar year or partial calendar year of the Term after the Base Year, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to Tenant's estimated Excess Operating Costs for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord may estimate and re-estimate the Excess Operating Costs to be due by Tenant and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Excess Operating Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year.

Examples of Excess Operating Costs in a sentence

• In addition to any other terms or conditions set forth in this Amendment, Landlord's obligations hereunder are conditioned upon Tenant's compliance with all terms of the Lease up to and including the Effective Date, and Tenant is and shall remain obligated to pay the Basic Annual Rent and Tenant's Proportionate Share of Excess Operating Costs with respect to the Expansion Premises through the Effective Date.

• From and after the July 1, 1997, Tenant's Proportionate Share of Excess Operating Costs for the Premises shall be .6439% (assuming that the Rentable Area of the Premises is as set forth in Section 2 above).

• As of the Effective Date, and assuming compliance with all of the terms and conditions set forth in this Amendment, the Rentable Area, Tenant's Proportionate Share of Excess Operating Costs for the Premises, the Basic Annual Rent and the monthly installment of the Basic Annual Rent shall be as set forth in the Original Lease, as if Amendment No. I had never been enacted; provided.

• For each calendar year following the Base Year, Tenant shall pay each monthly installment of Tenant's Pro Rata Share of Excess Operating Costs in advance together with each monthly installment of Base Rent.

• Thereafter, the monthly installments of Excess Operating Costs payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess Operating Costs as estimated by Landlord.

More Definitions of Excess Operating Costs

Excess Operating Costs means any excess of (i) Landlord's Operating Costs for any calendar year following the Base Year over (ii) the actual Operating Costs of the Base Year.

Excess Operating Costs means, for each calendar year or fractional calendar year during the Term, the amount by which Operating Costs for such calendar year or fractional calendar year exceed Base Year Operating Costs.

Excess Operating Costs at any point in time means, with respect to a Net Profits Interest, an amount equal to the excess of Operating Costs over Gross Proceeds of such Net Profits Interest for each calculation period. Excess Operating Costs shall be reduced by any revenues that would reduce Operating Costs pursuant to Section 1.17 hereinbelow but have not otherwise reduced such Operating Costs.

Excess Operating Costs means the difference between (i) the Operating Costs for as Lease Year minus (ii) the product of (A) Landlord's Operating Cost Contribution multiplied times (B) the area of the Building.

Excess Operating Costs. For any calendar year, the amount by which Operating Costs for that year exceed the 1994 Operating Costs. If the rentable area of the Building in that year differs from the rentable area of the Building in 1994, then the 1994 Operating Costs shall be appropriately adjusted.

Excess Operating Costs means the amount by which the Operating Costs for any calendar year after the Base Year exceed the Operating Costs for the Base Year. Landlord shall calculate Operating Costs and Excess Operating Costs on a Rentable Square Foot basis by dividing the aggregate costs by the Total Project Area. If the amount of ad valorem taxes and assessments for the Base Year is subsequently reduced or increased, then the changed amount is deemed to be the ad valorem taxes and assessments for the Base Year and is substituted for the original amount of taxes and assessments in the calculation of Operating Costs for the Base Year.

Excess Operating Costs means, in a tax year, the amount (if any) by which a person’s direct operating costs in the tax year exceeds the person’s gross income from petroleum operations for the same tax year;