Expense definition
Examples of Expense in a sentence
Within thirty (30) days after Txxxxx’s receipt of the Statement for each Expense Year ending during the Lease Term, Tenant shall pay to Landlord the full amount of the Excess for such Expense Year, less the amounts, if any, paid during such Expense Year as Estimated Excess (as defined in and pursuant to Section 4.3.3, below).
Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year to the month of such payment, both months inclusive, and shall have twelve (12) as its denominator.
The Investment Manager shall determine on each business day whether the aggregate Term to date Fund Operating Expenses for any class of a Fund exceed the Operating Expense Limit, as such Operating Expense Limit has been pro-rated to the date of such determination (the “Pro-Rated Expense Cap”).
The Parties acknowledge and agree that the Guaranteed Obligations under the Limited Guaranty include the Expense Reimbursement obligations of the SPAC under Section 11.04 of the Agreement and Section 8 of this Termination Agreement.
Following the end of each Expense Year, Landlord shall give to Tenant a statement (the “Statement”), which shall state the Operating Expenses and Tax Expenses allocated to the Building pursuant to Section 4.3.4 below incurred or accrued for such preceding Expense Year, and which shall indicate the amount, if any, of any Excess.