Occupancy Cost definition

Occupancy Cost means (i) the “triple net” rental value of the Premises, which the parties have agreed is ( ) per month (the “Rental Component”) and (ii) Tenant’s pro rata share (as set forth in Exhibit B attached hereto and referred to herein as “Tenant’s Pro Rata Share”) of Landlord’s operating expenses for the Project, which operating expenses are more particularly described on Exhibit B attached hereto and made a part hereof (the “Non-Rental Component”). Tenant’s Pro Rata Share of the utility expense portion of the Non-Rental Component (referred to herein as the “Utility Charges”) will be billed to Tenant separately from all of the other operating expenses comprising the Non-Rental Component (all such other operating expenses are referred to herein as the “Operating Expense Charges”). All amounts required to be paid by Tenant under this Lease other than the Occupancy Cost shall be deemed Additional Rent (which, collectively with the Occupancy Cost, shall be deemed “Rent”). Rent shall be made payable to the entity, and sent to the address, Landlord designates in writing to Tenant and shall be made by good and sufficient check or by other means acceptable to Landlord.
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Occupancy Cost means building rental expense, real estate taxes, utilities, maintenance and repair and property casualty insurance.
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Occupancy Cost shall refer to (a) the "triple net" rental value of the Premises (which shall mean the management reporting depreciation on the land, the land improvements, the building, the building improvements and the building-related building equipment with respect to the Building, based on Hewlett-Packard Company's methods and procedures as of the date hereof (the "Rental Component")) and (b) a pro rata share of Landlord's actual cost of the following with respect to the Building and property on which the Building is located: Landlord's liability and property insurance, property taxes and assessments, utilities (to the extent not separately metered), maintenance to the common areas and areas for the common benefit of all of the occupants of the Building and other charges reasonably and customarily charged by landlords for similar premises (the "Non-Rental Component"). Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without any deduction or offset and without prior notice or demand, at the address indicated by Landlord from time to time. Rent for any period which is for less than one (1) month of the Term shall be a pro rata portion of the monthly installment. All amounts required to be paid by Tenant under this Lease other than Base Rent shall be deemed Additional Rent (which, collectively with Base Rent, shall be deemed "Rent"). Notwithstanding the provisions of the first two sentences of this section, in the event the Term extends or is extended by agreement of the parties beyond October 31, 2001, unless the parties otherwise expressly agree in writing, Base Rent shall be an amount equal to the Occupancy Cost of the Premises, including the use of the Shared Areas, plus an administrative fee equal to ten percent (10%) of the Non-Rental Component of the Occupancy Cost; provided that the Rental Component shall be equal to the fair market value of the Premises on a "triple net" basis. In such event, the parties shall negotiate in good faith to determine the fair market value of the Premises. In the event the parties are unable to agree upon the fair market value prior to August 1, 2001, the fair market rent shall be determined by three appraisers selected and governed by the rules of the American Arbitration Association.
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Examples of Occupancy Cost in a sentence

  • ONTARIO TAX CREDIT— Ontario Property Tax Credit— Occupancy Cost: Given that you are living in a designated university student residence in Ontario, you may claim only $25 as your occupancy cost and not the full amount of residence fees paid when you file your income tax return.

  • The Utility Charges portion of the Non-Rental Component of Occupancy Cost shall be based on the actual monthly costs incurred by Landlord with respect to the Term for the common utility services serving the Premises and Project.

  • Occupancy Cost of SpaceThe cost of space in privately or publicly owned buildings used for the benefit of the program isALLOWABLE.The total cost of space is allowable to the extent that it is reasonable and does not exceed the rental cost of comparable space and facilities in the same locality.

  • The total Operating Costs comprise two components, namely i) a Base Rent and ii) an Occupancy Cost.

  • All amounts required to be paid by Tenant under this Lease other than the Occupancy Cost shall be deemed Additional Rent (which, collectively with the Occupancy Cost, shall be deemed “Rent”).

  • The terms of any such lease shall be on the same terms and conditions as this Lease, including, without limitation, the then remaining term, except that the Rental Component of the Occupancy Cost per rentable square foot of Expansion Premises shall be the then Fair Market Rent of the Expansion Premises, as determined by Landlord, which rental value shall be included in Landlord’s ROFO Notice to Tenant.

  • Tenant shall pay Landlord as rent for the Premises for each month during the Term, without setoff or deduction, an amount equal to the monthly Occupancy Cost of the Premises, including use of the Shared Areas.

  • For example, if a Service includes a Monetary Lease Modification and an extension of the Lease the Occupancy Cost Savings shall be applicable through the expiration of the then current term of the lease.

  • The Monthly Occupancy Cost ("rent") must not exceed an overall average of 80% of the city-wide Average Market Rent (AMR), with no one unit exceeding 100% AMR.

  • Buyer also agrees to meet with Seller prior to extending its office lease or agreeing to any increase in its occupancy cost above in TA's Existing Occupancy Cost.

Related to Occupancy Cost

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Occupancy Rate means, with respect to a Property at any time, the ratio, expressed as a percentage, of (a) the number of units in the case of an multifamily Property or square feet in the case of any other Property leased to tenants that are not affiliated with the Borrower pursuant to binding leases to (b) the aggregate number of units or square feet, as applicable, of such Property.

  • Lessor's Cost for the Aircraft means the amount denominated as such in Exhibit B to the Lease.

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.

  • Tenant’s Percentage 3.13% which is based on the 2,440 Rentable Square Feet (RSF) the Premises over the total RSF of the Building and shall be adjusted if the RSF of the Building shall increase or decrease.

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • bicycle parking space – occupant means an area that is equipped with a bicycle rack, locker or bicycle stacker for the purpose of parking and securing bicycles, and:

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Gross Floor Area means the total floor area, measured between the outside of exterior walls or between the outside of exterior walls and the centre line of party walls dividing the building from another building, of all floors above the average level of finished ground adjoining the building at its exterior walls;

  • Footage means still images, video, audio and other data captured by the Flock Hardware or Customer Hardware in the course of and provided via the Flock Services.

  • Tenant’s Proportionate Share is, subject to the provisions of this Paragraph 3, the percentage number described in Item 4 of the Basic Lease Provisions. Tenant's Proportionate Share represents a fraction, the numerator of which is the number of square feet of Rentable Area in the Premises and the denominator of which is the number of square feet of Rentable Area in the Project, as determined by Landlord pursuant to Subparagraph 2(d) above.

  • mixed-use building means a building or structure containing a residential and non- residential use other than a home occupation;

  • Occupancy means the use or intended use of a building or part thereof for the shelter or support of persons, animals or property.

  • bicycle parking space – visitor means an area that is equipped with a bicycle rack for the purpose of parking and securing bicycles, and:

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • Tenant’s Percentage Share means the percentage specified in the Basic Lease Information.

  • Transient occupancy means occupancy in transient lodging that has all of the following

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • 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.

  • domestic premises means any premises used wholly or partly as a dwelling or intended for such use;

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Trip Cost means the dollar amount of Trip payments or deposits paid by the Insured prior the Insured’s Trip Departure Date and shown on any required application which is subject to cancellation penalties or restrictions. Trip cost will also include the cost of any subsequent pre-paid payments or deposits paid by the Insured for the same Trip, after application for coverage under this plan provided the Insured amends the Application to add such subsequent payments or deposits and pays any required additional plan cost prior to the Insured’s Departure Date.

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Project Cost means the price payable to Service Provider over the entire period of Agreement (i.e. Rs. <in words>) for the full and proper performance of its contractual obligations.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Salvage Yard means any non-residential property used for the storage, collection, and/or recycling of any type of equipment, and including but not limited to vehicles, appliances and related machinery.