Operating Expense Year definition

Operating Expense Year means each calendar year during the Term, except that the first Operating Expense Year begins on the Commencement Date and ends on December 31 of such year and the last Operating Expense Year begins on January 1 of the calendar year in which this Lease expires or is terminated and ends on the date of such expiration or termination. If an Operating Expense Year is less than twelve (12) months, Operating Expenses for such year shall be prorated.

Operating Expense Year means, for purposes of determining Operating Expenses each calendar year all or any part of which shall fall within the Term hereof.

Operating Expense Year means the Base Operating Expense Year and each subsequent calendar year.

Examples of Operating Expense Year in a sentence

• If, during any Operating Expense Year, there is a change in the information on which Tenant is then making its Estimated Payments so that the prior estimate is no longer accurate, Landlord may revise the estimate and there shall be such adjustments made in the monthly Rent on the first day of the month following notice to Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of monthly Rent then being paid by Tenant for the balance of the Operating Expense Year.

• Tenant shall also pay Landlord or deduct from the Rent, as the case may be, on the date required for the first payment, as adjusted, the difference, if any, between the Estimated Payment for the new Operating Expense Year set forth in the statement and the Estimated Payment actually paid during the new Operating Expense Year.

• Delay by Landlord in submitting any statement for any Operating Expense Year does not affect the provisions of this Section or constitute a waiver of Landlord's rights for such Operating Expense Year or any subsequent Operating Expense Years.

• Until Tenant receives a statement, Tenant's Estimated Payment for the new Operating Expense Year shall continue to be paid at the prior Estimated Payment, but Tenant shall commence payment of Rent based on the new Estimated Payment beginning on the first day of the month following the month in which Tenant receives the statement.

• Prior to the end of the Base Operating Expense Year, and in advance of each calendar year thereafter during the Term, Landlord shall furnish Tenant with an estimate (which estimate may be changed by Landlord from time to time) of Tenant’s Proportionate Share of the Expense and Tax Increases for the ensuing calendar year (or portion thereof).

More Definitions of Operating Expense Year

Operating Expense Year means each calendar year during the Term, except that the first Operating Expense Year begins on the Commencement Date and ends on December 31 of such year and the last Operating Expense Year begins on January 1 of the calendar year in which this Lease

Operating Expense Year means the twelve (12) consecutive month period occurring immediately after the Operating Expense Base Year and each subsequent twelve (12) consecutive month period, all or any part of which falls within the Term of this Lease. (iv) The term “Operating Expense Base Year” shall mean: (a) the calendar year in which Final Substantial Completion occurs, if Final Substantial Completion occurs between January 1st and April 30th, (b) the last half of the calendar year in which Final Substantial Completion occurs and the first half of the immediately following calendar year, if Final Substantial Completion occurs between May 1st and August 30th, or (c) the following calendar year, if Final Substantial Completion occurs between September 1st and December 31st.

Operating Expense Year shall have the meaning set forth in Section 4.03A(iv) hereof.

Operating Expense Year means calendar year 2000 and each calendar year thereafter any portion of which occurs during the Term of the Lease. Notwithstanding the foregoing, the first Operating Expense Year shall commence on the 1st Floor East Wing Rent Commencement Date (with respect to the 1st Floor East Wing Space and the Third Floor Space), and shall commence on the First Floor Walkway Rent Commencement Date (with respect to the First Floor Walkway) and shall end on December 31, 2000, and the last Operating Expense Year shall end on the last day of the Term or the last day of any Extension Term. Tenant's obligation under this Paragraph 10.D. to pay estimated and actual amounts towards Operating Expenses for the first and last Operating Expense Year shall be prorated by multiplying the total estimated or actual (as the case may be) Operating Expenses paid or incurred during the first or last (as the case may be) Operating Expense Year, by a fraction, the numerator of which shall be the number of days in the first or last (as the case may be) Operating Expense Year, and the denominator of which shall be 365.

Operating Expense Year means each calendar year commencing with the calendar year in which the Term Commencement Date occurs, falling, in whole or in part, within the term of this Lease. If a Term Commencement Date for space leased by Tenant occurs on a date other than January 1 or the term of this Lease terminates or expires on a date other than December 31, the Additional Rental for the pertinent Operating Expense Year for such space shall be prorated based upon the number of days in such Operating Expense Year occurring after such Term Commencement Date or before the termination or expiration of the term of this Lease, as applicable.

Operating Expense Year means each calendar year following the Base Expense Year, all or any portion of which falls within the Term of this Lease, as extended from time to time. Notwithstanding the foregoing, the first Operating Expense Year shall commence on the first day following the expiration of the Base Expense Year and shall end on the following December 31, and the last Operating Expense Year shall end on the last day of the Term. Tenant's obligation under this Article to pay estimated and actual amounts towards Operating Expenses for the first and last Operating Expense Year shall be prorated by multiplying the total estimated or actual (as the case may be) Operating Expenses paid or incurred during the first or last (as the case may be) Operating Expense Year, as well as the total Operating Expenses paid or incurred during the Base Expense Year, by a fraction, the numerator of which shall be the number of days in the first or last (as the case may be) Operating Expense Year, and the denominator of which shall be 365.

Operating Expense Year means the twelve month period beginning on the Commencement Date and each succeeding twelve month period during the term.