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.
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Initial operating costs means expenditures for the operation of
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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.
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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 means the actual Operating Costs for the calendar year 2011 (the “Base Year”), adjusted as provided in the Lease.
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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.
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Initial operating costs is defined within the definition of “Operating Costs” below.
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Related to Initial operating costs

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series' assets with respect to the Class for the calendar year involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees' fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series' statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series' "Annual Operating Expenses" for the Class do not include interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are "extraordinary" as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, INC. By: /s/ Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx, President ACCEPTED: THE ROYCE FUND By: /s/ Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx, President December 16, 1998 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement - Royce Giftshares Fund (Investment Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated December 22, 1995 and amended May 28, 1997 (the "Agreement") by and between The Royce Fund (the "Fund") on behalf of Royce GiftShares Fund (the "Series") and Royce & Associates, Inc. (the "Adviser").

  • 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.

  • 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 is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • 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;

  • 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.

  • Operating Expenditures means all Partnership Group cash expenditures (or the Partnership’s proportionate share of expenditures in the case of Subsidiaries that are not wholly owned), including taxes, compensation of employees, officers and directors of the General Partner, reimbursement of expenses of the General Partner and its Affiliates, debt service payments, Maintenance Capital Expenditures, repayment of Working Capital Borrowings and payments made in the ordinary course of business under any Hedge Contracts, subject to the following:

  • 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;

  • Operation and Maintenance Costs means the costs of: