Operating Expense Rent definition

Operating Expense Rent. Xxxxxx’s Percentage Share of Operating Expenses.
Sample 1
Operating Expense Rent. (as defined in the Main Lease) in excess of the annual amount payable therefor by Sublessor for the calendar year 1996. Subtenant shall not be obligated to pay any Tax Rent due to increases in Property Taxes of more than 102% per annum (compounded) over the Property Taxes for the 1996 calendar year.
Sample 1
Operating Expense Rent means sums paid by a tenant based upon its share of the operating expenses of a Property or the estimated share of operating expenses (including taxes); and (iii) "Seller's Share" shall be a fraction, the numerator of which shall be number of days from and after January 1, 1997 through the Closing Date and the denominator of which shall be 365. If based upon the Appropriate Expense Information, Purchaser reasonably determines that the Operating Expense Rent paid by any tenants of an Office Building will exceed the operating expenses to be passed through to the tenants of that Office Building (as of the Closing Date, hereafter called "Affected Tenants") for the calendar year 1997 and will require a refund or credit to the Affected Tenants of the excess Operating Expense Rent, Purchaser shall deliver written notice ("Adjustment Notice") to Seller on or before October 31, 1997 ("Operating Expense Adjustment Deadline") together with such information as may be reasonably required to substantiate Purchaser's position. Unless Seller delivers written notice ("Operating Expense Objection") to Purchaser within ten (10) days after delivery of the Adjustment Notice, Seller shall promptly pay
Sample 1

Examples of Operating Expense Rent in a sentence

  • Such early access to and occupancy of the Leased Premises shall be subject to the terms and conditions of this Lease except that Tenant shall not be required to pay Base Rent or Operating Expense Rent for any days of such early access, but Tenant shall be required to reimburse Landlord for its actual costs in connection with any security or additional personnel that are required as a result of Tenant's early access.

  • Xxxxxx agrees to pay to Landlord Xxxxxx's Share of Operating Expenses ("Operating Expense Rent") in accordance with the provisions of this Article 5.

  • If, however, the amount of Tax and Operating Expense Rent paid by Tenant during any calendar year is less that the Tenant’s Percentage Share of Property Taxes, Operating Expenses and Insurance Costs for such year, then Tenant shall pay the deficiency to Landlord within thirty(30) days after receipt of Landlord’s Statement.

  • Notwithstanding any provision of this Paragraph to the contrary, if the Building is less than 100% leased and/or occupied during any calendar year an adjustment shall be made so that Operating Expense Rent shall be computed for such year as though 100% of the Building had been leased and occupied during such year.

  • No delay in providing the statement described in this Section shall act as a waiver of Tenant’s obligation to pay Tax and Operating Expense Rent; provided, however, Tenant shall have no obligation to reimburse Landlord for any expenses incurred by Landlord reimbursable hereunder if such expenses are not billed to Tenant within two (2) years after the year such expenses are incurred by Landlord.

  • During any calendar year, prior to the giving of the Tax and Operating Expense Rent Notice for such year, Tenant shall continue paying installments of Tax and Operating Expense Rent based upon the Tax and Operating Expense Rent Notice most recently given to Tenant.

  • During December of each calendar year or as soon thereafter as practicable, Landlord shall provide Tenant with a written notice of its estimate (line item and detailed support included) of Operating Expense Rent for the ensuing calendar year.

  • Xxxxxx has the right, exercisable in writing no more than once each calendar year on reasonable advance notice and at a time reasonably acceptable to Lessor, to cause an audit to be performed by Xxxxxx’s accountants or consultants, at Lessee’s sole cost and expense of Lessor’s operations and/or books and records pertaining to Operating Expense Rent for the preceding calendar year.

  • The Base Rent installment and Operating Expense Rent installment due for the first full calendar month in which Base Rent is due (plus any partial month occurring at the beginning of the Lease Term) and the Security Deposit, if any, shall be delivered to Landlord by Tenant simlutaneously with Tenant's delivery to Landlord of its signature(s) to this Lease.

  • In the event Xxxxxx has overstated Operating Expense Rent by more than 2%, and provided Xxxxxx is not in default hereunder, within 30 days after demand therefore by Xxxxxx accompanied by Xxxxxx’s verification of such overcharges and paid invoices, Lessor will reimburse Lessee for such overcharges.


More Definitions of Operating Expense Rent

Operating Expense Rent shall be as defined in the Basic Lease Terms.
Sample 1
Operating Expense Rent. (as defined in the Main Lease) in excess of the annual amount payable therefor by Sub-Sublessor for the calendar year 1998. Sub-Subtenant shall not be obligated to pay any Tax Rent due to a sale or transfer of the Building. The 1998 base year over which all increases shall be determined shall include all actual operating expenses and taxes, adjusted to reflect the Building being ninety-five percent (95%) occupied. In addition, all other sums (excluding Monthly Basic Rent) payable by Sub-Subtenant hereunder shall be deemed to be Additional Rent.
Sample 1
Operating Expense Rent defined in Section 5.3.
Sample 1

Related to Operating Expense Rent

  • 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.

  • 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:

  • 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.

  • Controllable Operating Expenses means all Operating Expenses except real property taxes, all forms of insurance, utility expenses, costs of services provided under a union contract, payments under CC&R’s or to an owners’ association and costs associated with repairs due to casualty, vandalism or other source 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.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

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

  • 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.

  • 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, LLC By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Vice President [ROYCE & ASSOCIATES, LLC LETTERHEAD] December 31, 2006 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement - Royce Micro-Cap Fund (Service Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated October 1, 2001 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Royce Micro-Cap Fund (the “Series”) and Royce & Associates (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the calendar year ending December 31, 2007, and/or agrees to reimburse expenses relating to such calendar year to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Service Class of shares (the “Class”) are not more than 1.66% of the Class’ average net assets for such calendar year. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent calendar year through the year ending December 31, 2015 (but not for any calendar year thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such calendar year. 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.

  • 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.

  • 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.

  • 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).

  • 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:

  • Additional Rent means any and all amounts, other than Basic Rent, required to be paid by the Tenant under this Lease, whether or not same are designated “Additional Rent” or whether or not the same are payable by Landlord;

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Approved Operating Expenses means Operating Expenses incurred by Borrower or by any Manager on Borrower’s behalf (excluding any Restricted Payments) 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 Properties, (iii) are for Management Fees, or (iv) have been approved in writing by Lender as Approved Operating Expenses; provided, however, that Approved Operating Expenses shall also include, for any calendar month in which Operating Expenses exceed the Monthly Operating Expense Budgeted Amount, the amount of such excess Operating Expenses up to and not to exceed ten percent (10%) of the Monthly Operating Expense Budgeted Amount for such calendar month as to which Borrower provides to Lender a reasonably detailed explanation of the reasons for and expenditures resulting in Operating Expenses exceeding the Monthly Operating Expense Amount.

  • Base Rent As defined in Section 3.1.

  • 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.

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

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

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

  • Rent Expense means for any fiscal period, the total amount of rents and other charges payable during such period by the Credit Parties and their respective Subsidiaries under all Real Estate Leases to which they are a lessee, all as determined on a consolidated basis in accordance with GAAP.