Expense Stop definition

Expense Stop means that portion of the Operating Expenses, expressed in terms of dollars per square foot of Net Rentable Area per Fiscal Year, which will be deducted from the computation of Additional Rent. Unless changed by mutual agreement of the parties, the "Expense Stop" shall be equal to the actual operating expenses per rentable square foot for the 1997 calendar year.

Expense Stop means the amount (per square foot of Rentable Area of the Premises) Landlord herewith agrees to expend as its share of Operating Expense (which shall be a credit for Tenant to apply to offset Operating Expenses charged to the Premises), not to exceed the total amount of Operating Expenses for calendar year 2007 (the “Base Year”) (per square foot of Rentable Area in the Building); provided, however, that if occupancy of the Building during the Base Year is less than ninety-five percent (95%), Operating Expenses for the Base Year shall be “grossed up” to that amount of Operating Expenses that, using reasonable projections, would normally be expected to be incurred if the Building were ninety-five percent (95%) occupied during the Base Year. With respect to Real Property Taxes included in Operating Expenses for the Base Year, such amount shall be determined under the assumption that the Building is fully assessed as a completed and occupied unit.

Expense Stop means the “Operating Expenses” (as defined in Paragraph 5.1.2) allocable to the Premises that are actually incurred in3

Examples of Expense Stop in a sentence

• During each calendar year or partial calendar year of the Term (after the base year, if the Expense Stop is calculated on a base year basis), Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to the estimated Additional Rent for such calendar year or part thereof divided by the number of months therein.

• With respect to any partial calendar month occurring during such partial calendar year, the Expense Stop shall also be prorated based upon the number of days in that partial calendar month.

• The Basic Cost (other than the first year in which the Building is occupied) and Expense Stop shall be prorated for any portion of the Term which is less than a full calendar year.

• For any partial calendar year at the termination of this Lease, Tenant’s Share of any increases in Operating Costs for such year over the Expense Stop shall be prorated on the basis of a 365-day year by computing Tenant’s Share of the increases in Operating Costs for the entire year and then prorating such amount for the number of days this Lease was in effect during such year.

• In no event shall Operating Expenses per square foot of Rentable Area within the Building be deemed to be less than the Expense Stop, it being the intent of Landlord and Tenant that Tenant shall at all times be responsible for the payment of, and shall pay, not less than the amount of Base Rent for the applicable period (before adjustment) specified in this Lease.

More Definitions of Expense Stop

Expense Stop. Tenant’s Proportionate Share of actual 2014 (“Base Year”) expenses. Landlord’s Address for Payment of Rent: DTR14, LLC 17000 X. Xxxxxxxxx Xxxxx, Xxxxx 000 Xxxxxxxxxx, Xxxxxxx 00000 Attn: Accounting Department Standard HVAC Hours: Between 7:00 a.m. and 6:00 p.m., Monday through Friday, and between 8:00 a.m. and 12:00 p.m. on Saturday, excluding legal holidays in the State of Arizona. Landlord's Address DTR14, LLC For Notices: 17000 X. Xxxxxxxxx Xxxxx, Xxxxx 000 Xxxxxxxxxx, Xxxxxxx 00000 Attn: Gaxx X. Xxxxxxx, Esq. Fax: (400) 000-0000 With copy of any Default Notice to:

Expense Stop means the actual operating expenses per usable square foot incurred for the calendar year of 1999.

Expense Stop means Landlord's good faith estimate of Property Expenses for the Building during the calendar year in which the Commencement Date occurs divided by the Building Square Footage. The Expense Stop will be thirty cents ($.30) per square rentable square foot of the Building.

Expense Stop means an amount equal to the Operating Costs for the calendar year ending December 31, 2017 divided by the Rentable Square Footage of the Building.”

Expense Stop means Landlord's good faith determination in accordance with generally accepted accounting principles of the Basic Costs (on a per square foot of Net Rentable basis) for the calendar year in which the Renewal Term commences.

Expense Stop means an amount equal to Seven and 00/100 Dollars ($7.00) multiplied by the number of square feet of Rentable Area in the Premises, which is Landlord's estimate of Tenant's Pro Rata Share of Direct Costs for the Operating Year in which the Lease Term commences.

Expense Stop means the sum of $.3313 per square foot of space in the building and (ii) the ------ term "Basic Costs" shall mean all real property taxes, assessments (whether general or special) and governmental charges of any kind and nature whatsoever, including, without limitation, assessments due to deed restrictions and/or owners' associations, which accrue against the building and/or project of which the premises are a part during the term of this lease and all insurance premiums Landlord is required to pay or deems necessary to pay, including, without limitation, public liability insurance and fire and extended coverage insurance with respect to the building and/or project. Tenant shall during the term of this lease pay as an adjustment to the base rent, (i.e., the rent payable under subparagraph 2.A. hereof), an amount (per each square foot of space within the premises) equal to the excess ("Excess") from time to time of actual Basic Costs per square foot of space in the building over the Expense Stop. Landlord will make a good faith estimate of the Excess for each calendar year and the monthly payment of base rent by Tenant shall be adjusted upward in accordance with such estimate. By April 1st of each calendar year during the term of this lease and by April 1st of the year following the calendar year in which this lease terminates, or as soon thereafter as practical, Landlord shall furnish (upon written request) to Tenant a statement of Landlord's actual Basic Costs for the previous calendar year. If for any calendar year additional rent collected under the terms of this subparagraph 4.A. for the prior year, as a result of Landlord's estimate of Basic Costs, is in excess of the additional rent actually due from Tenant hereunder during such prior year, then Landlord shall credit to Tenant's rental obligations any overpayment (or if Tenant has no further financial obligations under this lease, then Landlord shall refund the overpayment). Likewise, Tenant shall pay to Landlord, on demand, any underpayment with respect to the prior year. Any payment to be made pursuant to this subparagraph 4.A. with respect to the calendar year in which this lease commences or terminates shall be prorated if this lease is not enforced during the full calendar year. If at any time during the term of this lease, the present method of taxation shall be changed so that in lieu of the whole or any part of any taxes, assessments or governmental charges levied, assessed or imposed on rea...