Operating Cost Excess definition

Operating Cost Excess means the amount, in any Computation Year by which the Operating Costs for said year exceed the Operating Cost Base, multiplied by Tenant’s

Operating Cost Excess. If the total of Operating Costs in any Computation Year exceeds the Operating Cost Base, Tenant shall pay to Landlord, Tenant's Proportionate Share of such excess and such amount being hereinafter referred to as "Operating Cost Excess". Any new or residual classification or item of expenditure made by Landlord that are within the definition of Operating Costs shall be included within the Operating Cost Excess. Landlord may, at its sole discretion, bill Xxxant monthly, quarterly, semi-annually or annually for such Operating Cost Excess. The billing shall always be in arrears. Each bill xxxll set forth on an item by item basis the increase over the base year of the cost of each item for the month, quarter, half-year or year for which the bill xx rendered. Any bill xxx a month, quarter or half-year may be rendered on an estimated basis, in which event the estimate shall be the actual cost of the item for the next year preceding increased by Landlord's estimate of what the increase for the current year shall be. Any estimated bill xxxd not include all of the items mentioned in Section XI(e). Any annual bill xxxll be rendered on the basis of actual costs only. If Landlord shall render a monthly, quarterly or semi-annual bill xx account of any calendar year, then within one hundred eighty (180) days after the close of such calendar year (but within ninety (90) days of the expiration of the term of this Lease), Landlord shall render an annual bill xxx such year which annual bill xxxll make all adjustments as may be necessary to reflect actual changes during that year including, without limitation, any refund as may be due to Tenant. All bills for the cost escalation portion of the rent shall be due immediately upon receipt.

Operating Cost Excess means the amount, in any Computation Year by which the Operating Costs for said year exceed the Operating Costs Base, multiplied by Tenant's Proportionate Share for Operating Costs.

Examples of Operating Cost Excess in a sentence

• At the election of Landlord, Tenant shall pay to Landlord, as Additional Rent on the first day of each calendar month during the term but otherwise in the manner provided for the payment of Annual Fixed Rent, estimated payments on account of Operating Cost Excess, such monthly amounts to be sufficient to provide to Landlord, by the end of each Operating Year, a sum equal to the Operating Cost Excess for such Operating Year, as estimated by Landlord from time to time during such Operating Year.

• For the purposes of this Article, if Landlord elects to require Tenant to pay liquidated damages in accordance with this Section 15.4, the total rent shall be computed by assuming the Tax Excess under Section 6.1 and the Operating Cost Excess under Section 7.4 to be the same as were payable for the twelve (12) calendar months (or if less than twelve (12) calendar months have been elapsed since the date hereof, the partial year) immediately preceding such termination of re-entry.

• For the purposes of this Article, if Landlord elects to require Tenant to pay liquidated damages in accordance with this Section 15.4, the total rent shall be computed by assuming the Tax Excess under Section 6.2 and the Operating Cost Excess under Section 7.5 to be the same as were payable for the twelve (12) calendar months (or if less than twelve (12) calendar months have been elapsed since the date hereof, the partial year) immediately preceding such termination of re-entry.

• In the event of any taking, condemnation or damage by fire or casualty affecting the Property whereby the term of this Lease shall not terminate pursuant to the provisions of Section 7.1, then for purposes of determining the Operating Cost Excess or Tax Excess there shall be established new Base Taxes and Base Operating Costs as hereinafter provided.

• Tenant shall pay to Landlord, as Additional Rent, on the first day of each calendar month during the term but otherwise in the manner provided for the payment of Annual Fixed Rent, estimated payments on account of the Operating Cost Excess, such monthly amounts to be sufficient to provide to Landlord, by the end of each Operating Year, a sum equal to the Operating Cost Excess for such Operating Year, as estimated by Landlord from time to time.

More Definitions of Operating Cost Excess

Operating Cost Excess. Tenant's Proportionate Share of the amount by which Operating Costs for any calendar year exceed Base Operating Costs (See Section 7(B)).

Operating Cost Excess as defined in Section 10.1(b). --------------------- Operation: as defined in Section 10.1(c)(1). ---------

Operating Cost Excess. (as defined in Section 7.5 of the Lease), for the portion of the Term on and after the First Additional Premises Rent Commencement Date, the “Rentable Floor Area of the Premises” shall comprise a total of 16,467 square feet including both the Rentable Floor Area of the Initial Premises (being 7,234 square feet) and the Rentable Floor Area of the First Additional Premises (being 9,233 square feet). For the portion of the Lease Term prior to the First Additional Premises Rent Commencement Date, the “Rentable Floor Area of the Premises” shall continue to be the Rentable Floor Area of the Initial Premises for such purposes. (B) For the purposes of computing Tenant’s payments for electricity (as determined pursuant to Sections 5.2 and 7.5 of the Lease), for the portion of the Term on and after the First Additional Premises Commencement Date, the “Rentable Floor Area of the Premises” shall comprise a total of 16,467 square feet including both the Rentable Floor Area of the Initial Premises (being 7,234 square feet) and the Rentable Floor Area of the First Additional Premises (being 9,233 square feet). For the portion of the Lease Term prior to the First Additional Premises Commencement Date, the “Rentable Floor Area of the Premises” shall continue to be the Rentable Floor Area of the Initial Premises for such purposes. 7. (A) For the purposes of computing Tenant’s payments of the Tax Excess pursuant to Article VI of the Lease on and after January 1, 2022, the definition of “Base Taxes” contained in Section 6.1 of the Lease shall be deleted in its entirety and replaced with the following: “Base Taxes” means Landlord’s Tax Expenses (hereinbefore defined) for fiscal tax year 2023 (that is the period beginning July 1, 2022 and ending June 30, 2023). For the portion of the Lease Term prior to January 1, 2022, such definition shall remain unchanged for such purposes. (B) For the purposes of computing Tenant’s payments of the Operating Cost

Operating Cost Excess. (defined in Section 7.5) shall not include the cost to replace any item which is the subject of the warranty provided in Section 4.4 hereof.

Operating Cost Excess. (defined in Section 7.5) shall not include the cost to replace any item which is the subject of the warranty provided in Section 4.4 hereof. Such costs shall exclude payments of debt service and any other mortgage charges, brokerage commissions, legal fees attributable to (i) individual lease and tenant matters, (ii) financings of the Property and (iii) refinancings of the Property, salaries of executives and owners not directly employed in the management or operation of the Building, the general overhead and administrative expenses of the home office of Landlord or Landlord's managing agent, and costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation:

Operating Cost Excess with respect to the Existing Premises shall be deleted in their entirety and no further force and effect and (ii) all references in the Lease to “Operating Cost Excess” shall be replaced with references to “Tenant’s Operating Cost Payment.”

Operating Cost Excess. (as defined in Section 7.5 of the Lease), and Tenant payments for electricity (as determined pursuant to Sections 5.1, 5.2 and 7.5 of the Lease), for the portion of the Lease Term on and after the New Premises Commencement Date, the "Rentable Floor Area of the Premises" shall be 8,811 square feet. For the portion of the Lease Term prior to the New Premises Commencement Date, the rentable floor area of the Premises shall continue to be the rentable floor area of the Initial Premises for such purposes.