Excess Operating Costs definition

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. 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 15 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 is 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 Certified Public Accountant (of Tenant's choice) 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 120 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. Initial Here ------------ /s/ J.N. ------------ /s/ ------------

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).

Excess Operating Costs means any increases 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, as estimated by Landlord, for such calendar year or part thereof divided by the number of months therein. From time to time, but not more frequently than two (2) times per calendar year, Landlord may estimate and re-estimate the Excess Operating Costs to be due by Xxxxxx 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.

• 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.

• 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).

• Thereafter on the first day of each month, Tenant shall pay monthly until a new estimate of Operating Costs is applicable, one-twelfth (1/12th) of Tenant's Proportionate Share of the estimated Excess Operating Costs.

• 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, 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 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 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 means, during that portion of the Lease Term ending on (and including) October 31, 2010 (the “Remaining Original Lease Term”), any excess of (x) Operating Costs for any calendar year following the Base Year over (y) the actual Operating Costs of the Base Year.

Excess Operating Costs. For purposes hereof, Tenant's pro rata share with respect to the Lower Level Expansion Space (the "EXPANSION PRO RATA SHARE") shall be eight and ninety-three hundredths of one percent (8.93%) of all such Real Estate Taxes and Operating Costs incurred in excess of those incurred for the Lower Level Base Year.. Effective as of the Lower Level Expansion Space Commencement Date, Section 3.03 (b)(vii) of the Lease shall be amended to insert the words, "except to the extent paid directly by Tenant for the Lower Level Expansion Space," following the words, "utility charges and other costs of lighting, heating and cooling the Project."

Excess Operating Costs. The aggregate of all such rentals may be referred to hereinafter as "Rental". The annual Rental shall be due and payable in installments on the first day of each calendar month during the term of this Lease. Installments of Annual Rental for the first six (6) months shall be the amount specified in Item E, Section 1.02