Operating Costs Exclusions definition

Operating Costs Exclusions is defined in Section 4.2(a)(ii) herein.
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Operating Costs Exclusions means (i) the initial construction cost of the Project, or the costs of Tenant Improvements to be paid pursuant to the Work Letter, or depreciation of such costs; (ii) debt service (including, without limitation, interest, principal and any impound payments) required to be made on any mortgage or deed of trust recorded with respect to all or any part of the Project other than debt service and financing charges imposed pursuant to Section 3.4.1(i)(viii); (iii) any rent payable under any ground lease now or hereafter affecting the Project; (iv) leasing commissions and other costs and expenses incurred in connection with negotiations or disputes with prospective or present tenants in the Project; (v) expenditures relating to the repair of the structural components of each of the following: foundations, exterior walls, roof and any interior load bearing walls of the Building (but with respect to the roof these provisions do not exclude and Tenant shall, subject to Section 3.4.1(i), Section 3.4.1(j)(vi) and Section 7.2, bear all other roof costs); (vi) expenditures allocable to the first twelve (12) months of the Term of this Lease for necessary repairs of the window glazing, roof membrane and expenditures for repair of the heating, ventilating and air conditioning systems of the Building which exceed the cost of the contract for maintenance of the heating, ventilating and air conditioning system; (vii) capital expenditures relating to repairs, alterations or improvements to the Building or the Project required by governmental authorities to comply with building code provisions existing as of the Lease Date or required to comply with requirements of Landlord's Insurance or of covenants, conditions and restrictions applicable as of the Lease Date; (viii) costs, expenses and expenditures to the extent incurred with respect to other buildings designed for occupancy by tenants in the Project, as distinguished from costs, expenses and expenditures incurred solely with respect to Project Common Areas or solely with respect to the Project generally; (ix) specific costs which, pursuant to other provisions of this Lease, Tenant is obligated to pay in full, including without limitation costs of Tenant's performance of obligations to be performed by Tenant under this Lease and payments which Tenant is obligated to make directly to any party, including, without limitation, providers of goods, services, utilities or labor; (x) fines and penalties imposed because of willful ...
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Operating Costs Exclusions mean (a) Capital Improvements (except as otherwise provided above); (b) costs of special services rendered to individual tenants (including Tenant) for which a special charge is made; (c) interest and principal payments on loans or indebtedness secured by the Building; (d) costs of leasehold improvements for Tenant or other tenants of the Building; (e) costs of services or other benefits of a type which are not available to Tenant but which are available to other tenants or occupants, and costs for which Landlord is reimbursed by other tenants of the Building other than through payment of tenants’ shares of increases in Operating Costs and Taxes; (f) leasing commissions, attorneys’ fees and other expenses incurred in connection with leasing space in the Building or enforcing such leases; (g) costs, fines or penalties incurred due to Landlord’s violation of any Law; (h) advertising and promotional expenses; (i) nonrecurring costs incurred to remedy structural defects in the original construction of the Building; and (j) repairs or other work needed due to fire, windstorms, or other casualty or cause actually insured against by Landlord or to the extent the Landlord’s insurance required under Subsection 13.3 - Landlord’s Insurance would have provided coverage, whichever is greater.
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Examples of Operating Costs Exclusions in a sentence

  • Xxxxxxx Realty Company (Xxx Xxxxxxx) and Core Realty Advisors (Xxxx Xxxxxxxxx) Property Manager: Transwestern Commercial Services Exhibit A: Legal Description of the Land Exhibit B: The Premises Exhibit C: Construction Rider Exhibit D: Building Rules Exhibit E: Subordination, Non-Disturbance and Attornment Agreement Exhibit F: Operating Costs Exclusions Exhibit G: Exterior Building Signage Locations Exhibit G-1: Landlord Approved Signage The Basic Lease Information set forth above is part of the Lease.


More Definitions of Operating Costs Exclusions

Operating Costs Exclusions means (i) the initial construction cost of the Project, or the costs of providing Landlord's Work to Tenant, or depreciation of such costs; (ii) debt service (including, without limitation, interest, principal and any impound payments) required to be made on any mortgage or deed of trust recorded with respect to all or any part of the Project other than debt service and financing charges imposed pursuant to Section 3.41(i)(viii); (iii) any rent payable under any ground lease now or hereafter affecting the Project; (iv) leasing commissions and other costs and expenses incurred in connection with negotiations or disputes with prospective or present tenants in the Project; (v) expenditures relating to the repair of the structural components of each of the following: foundations, exterior walls, roof and any interior load bearing walls of the Building (but with respect to the roof these provisions do not exclude and Tenant shall, subject to Section 3.4.1(i) and Section 7.2, bear all other roof costs) of the Premises; (vi) capital expenditures relating to repairs, alterations or improvements to the Building required by governmental authorities to comply with building code provisions existing as of the Lease Date and, with respect to requirements of the American with Disabilities Act (ADA), to comply with ADA provisions as interpreted and as enforced as of the Lease Date; (vii) costs, expenses and expenditures to the extent incurred with respect to other buildings designed for occupancy by tenants in the Project, as distinguished from costs, expenses and expenditures incurred solely with respect to Project Common Areas or solely with respect to the Project generally; (viii) costs of complying with Environmental Laws relating to Hazardous Materials affecting the Premises, Building or Project unless made the responsibility of Tenant pursuant to Section 4.8; and (ix) specific costs which, pursuant to other provisions of this Lease, Tenant is obligated to pay in full, including without limitation costs of Tenant's performance of obligations to be performed by Tenant under this Lease and payments which Tenant is obligated to make directly to any party, including, without limitation, providers of goods, services, utilities or labor.
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Related to Operating Costs Exclusions

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

  • 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.

  • 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.

  • Controllable Operating Expenses means all Operating Expenses except property taxes and assessments, capital expenditures that are reasonably required, costs for repairs and maintenance (excluding preventative maintenance), utility charges, insurance charges, costs of services provided under a union contract, payments under covenants, conditions and restrictions or to an owners’ association and costs associated with repairs due to casualty, vandalism or other cause outside of Landlord’s reasonable control.

  • 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.

  • Common Area Operating Expenses are defined, for purposes of this Lease, as all costs incurred by Lessor relating to the ownership and operation of the Industrial Center, including, but not limited to, the following: (i) The operation, repair and maintenance, in neat, clean, good order and condition, of the following:

  • 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,

  • Routine Patient Costs means all health care services that are otherwise covered under the Group Contract for the treatment of cancer or other Life-threatening Condition that is typically covered for a patient who is not enrolled in an Approved Clinical Trial.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Base Operating Costs means Operating Costs for the calendar year specified as the Base Year in the Basic Lease Information (excluding therefrom, however, any Operating Costs of a nature that would not ordinarily be incurred on an annual, recurring basis).

  • 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.

  • 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;

  • 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 period 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 “acquired fund expenses”, 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, LP By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Chief Financial Officer THE ROYCE FUND By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Treasurer April 29, 2024 The Royce Fund 000 Xxxxx Xxxxxx New York, NY 10151 Gentlemen: Reference is made to the Investment Advisory Agreement dated July 31, 2020 (the “Agreement”), by and between The Royce Fund (the “Fund”), on behalf of Xxxxx Total Return Fund (the “Series”), and Royce & Associates, LP (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services it provides under the Agreement for the period beginning May 1, 2024, and ending April 30, 2025 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to its Service Class of shares (the “Class”) in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for the Class are not more than 1.49% of the Class’s average net assets for the Period. The Adviser's obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

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

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Approved Operating Expenses means Operating Expenses incurred by Borrower which (i) are included in the Approved Annual 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, (iii) if applicable, are for property management fees payable to Manager under the Management Agreement, such amounts not to exceed three percent (3.0)% of the monthly Gross Revenue, (iv) or (v) have otherwise been approved by Lender.

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Controllable Expenses means all expenses, other than Uncontrollable Expenses, incurred by the Company or any Subsidiary of the Company with respect to the Property.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

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

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

  • Manufacturing Cost means ***

  • Insurance Expenses means any Insurance Proceeds (i) applied to the repair of the related Leased Vehicle, (ii) released to the related Lessee in accordance with applicable law or the Customary Servicing Practices or (iii) representing other related expenses incurred by the Servicer that are not otherwise included in Liquidation Expenses or Disposition Expenses and recoverable by the Servicer under any applicable Servicer Basic Documents.

  • 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).

  • Operation and Maintenance Costs means the costs of: