Initial operating costs definition

Initial operating costs means expenditures for the operation of a supermarket or grocery store within the first three years after opening to the public, but within a standard range based upon industry standards, as determined by the authority.
Sample 1Sample 2Sample 3
Initial operating costs means expenditures for the operation of
Sample 1Sample 2Sample 3
Initial operating costs means the actual Operating Costs for the calendar year in which the effective date of any further amendment to the Lease documenting the expansion of the Leased Premises to include the Proposed Space occurs (which shall be the “Base Year” for the Proposed Space), adjusted as provided in the Lease.
Sample 1

Examples of Initial operating costs in a sentence

  • Tenant shall also be obligated to and shall continue to pay Landlord during this period Tenant’s Share of Operating Costs above the Initial Operating Costs, as set forth in Article 3 of the lease.

  • The "Initial Operating Costs" shall be, for the purposes of this Lease, $9.00 per rentable square foot, per annum, which amount is Landlord's projected and estimated Operating Costs for the Building, for calendar year 2001, at a 95% occupancy level.

  • For the purposes of this Seventh Amendment, the Initial Operating Costs shall be deemed to be the Operating Costs, on a per square foot per annum basis, for the Expansion Premises in the year 1997.

  • The "Initial Operating Costs" shall be, for the purposes of this Lease, the actual Operating Costs for calendar year 2000, adjusted pursuant to the terms of this Lease.

  • Operating Costs shall be due and payable for the 6th Floor Space on the same basis, and shall be calculated in the same manner, as Operating Costs are calculated for the Premises, under the Lease, except that the Initial Operating Costs for the 6th Floor Space only (and not for the remainder of the Premises) shall be the Operating Costs increases, on a per rentable square foot per annum basis, over the base year (calendar year 2005).

  • If such year's projected Operating Costs are greater than the actual Operating Costs as shown on the Final Annual Statement of Operating Costs, Landlord shall credit Tenant, within thirty (30) days of such statement issuance, Tenaxx'x Xhare of the difference between the projected Operating Costs and the greater of actual Operating Costs or Initial Operating Costs.

  • Landlord shall, within a period of one hundred twenty (120) days (or as soon thereafter as practical) after the close of each such respective calendar year following the Initial Calendar Year provide Tenant an unaudited statement of such year's actual Operating Costs compared to the Initial Operating Costs (such unaudited statement shall be herein referred to as the "Final Annual Statement of Operating Costs").

  • If the Initial Operating Costs are not known as of November 1, 2001, then the Base Rent adjustment shall be calculated as soon as practicable and shall be retroactive back to November 1, 2001.

  • In no event, however, shall Tenant pay as Operating Costs an amount which is less than the Initial Operating Costs for the Initial Calendar Year.

  • The "Initial Operating Costs" shall be, for the purposes of this Lease, the actual Operating Costs for calendar year 1998, adjusted pursuant to the terms of this Lease.


More Definitions of Initial operating costs

Initial operating costs is defined within the definition of “Operating Costs” below.
Sample 1
Initial operating costs means expenditures by the applicant for the operation of a first or second new supermarket or grocery store within the first three years after the opening of the supermarket or grocery store for business to the public, but within a standard range based upon industry standards, as determined by the Authority. Initial operating costs shall not include inventory, incentive consultant fees, or Authority fees. Initial operating costs may include expenditures for the operation of a first or second new supermarket or grocery store incurred within one month prior to the opening of the supermarket or grocery store for business to the public. Initial operating costs may additionally include expenditures by an affiliate of the applicant for costs incurred at the site of the project.
Sample 1
Initial operating costs means the actual Operating Costs for the calendar year 2011 (the “Base Year”), adjusted as provided in the Lease.
Sample 1

Related to Initial operating costs

  • Incremental Operating Costs means the incremental expenses incurred by the Recipient’s implementing agencies on account of Project implementation, management, and monitoring, including office space rental, utilities, and supplies, bank charges, communications, advertising, vehicle operation, maintenance, and insurance, building and equipment maintenance costs, travel and supervision costs, and salaries of supporting staff, but excluding salaries of officials of the Recipient’s civil service.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.

  • Initial Operation means the first integral operation of the complete equipment covered under the Contract with the sub-system and supporting equipment in service or available for service.

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • Base Operating Expenses means the Operating Expenses for the Base Year.

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • Operating Expenses shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Premises and related parking areas, unless expressly excluded from operating expenses.

  • Approved Operating Expenses operating expenses incurred by Borrower which (i) are included in the Approved Operating Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property or (iii) have been approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed.

  • Service Costs has the meaning ascribed thereto in Section 3.01.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Annual Operating Budget has the meaning set forth in Section 4.11.

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Project Start Date means the first Milestone Start Date specified in Schedule B;

  • Direct Expenses means “Operating Expenses” and “Tax Expenses.”