Operating Expense Stop. The quotient of (i) the amount of the Actual Operating Expenses for the Project for the calendar year 1997, divided by (ii) the number of square feet of Rentable Area in the Building.
Operating Expense Stop. The meaning given in Paragraph 17 of the Basic Lease Terms shall apply.
Operating Expense Stop means an amount equal to the actual Operating Expenses (on a per rentable square foot basis) for the calendar year 2015 (“Operating Expense Base Year”), subject to adjustment under Section 3 below.
Examples of Operating Expense Stop in a sentence
Tenant, on the first day of each month during the Term, shall pay to Landlord, as Additional Rent, without demand, offset or deduction, an amount equal to 1/12 of its proportionate share ("Tenant's Proportionate Share") of the budgeted Operating Expenses as calculated by Landlord (prorated for any partial month) to the extent such Operating Expenses exceed the Operating Expense Stop.
Tenant shall either receive a refund or be assessed an additional sum based upon the difference between Tenant's Proportionate Share of the actual Operating Expenses over and above the Operating Expense Stop and the Additional Rent payments made by Tenant during said year.
More Definitions of Operating Expense Stop
Operating Expense Stop means $2.50 per square foot multiplied by the Rentable Area in the Premises. Each of the foregoing definitions and basic provisions shall be construed in conjunction with the references thereto contained in the other provisions of this Lease and shall be limited by such other provisions. Each reference in this Lease to any of the foregoing definitions and basic provisions shall be construed to incorporate each term set forth above under such definition or provision.
Operating Expense Stop means the following: “The amount of the Actual Operating Expenses for the Project for the calendar year 2004 (grossed up to full occupancy).”
Operating Expense Stop. The product that results from multiplying the total amount of Operating Expenses (as hereafter defined) of the Property during the 1996 calendar year, as adjusted to provide for, among other things, a ninety-five percent (95%) occupied and fully assessed and completed Building and Property pursuant to Paragraph 4 of this Lease, by the Tenant's Share. [See Paragraph 4]
Operating Expense Stop is an amount equal to the actual Operating Expenses (as defined herein) for Calendar Year 2004 (the "Operating Expense Base Calendar Year")
Operating Expense Stop. The actual cost and expense paid or incurred by Landlord during calendar year 2012 (the “Base Year”) for Operating Expenses, as hereinafter defined, divided by the Rentable Area in the Project.
Operating Expense Stop. The amount set forth in Section 1.01 (14).
Operating Expense Stop means an amount equal to the actual Operating Expenses (on a per rentable square foot basis) for the calendar year 2014 (the “Base Year”).