Common use of Allocation of Project Expenses to Tenants of the Building Clause in Contracts

Allocation of Project Expenses to Tenants of the Building. Project Expenses (I.E., Operating Expenses and Tax Expenses) are determined annually for the Project as a whole. Since the Building is only one of the buildings which constitute the Project, Project Expenses shall be allocated by Landlord, in its reasonable discretion, to both the tenants of the Building and the tenants of the other buildings in the Project. The portion of Project Expenses allocated to the tenants of the Building shall consist of (i) all Project Expenses attributable solely to the Building and (ii) an equitable portion of Project Expenses attributable to the Project as a whole and not attributable solely to the Building or to any other building of the Project.

Appears in 1 contract

Sources: Office Lease (Kinzan Inc)

Allocation of Project Expenses to Tenants of the Building. Project --------------------------------------------------------- Expenses (I.E.i.e., Operating Expenses and Tax Expenses) are determined annually for the Project as a whole. Since the Building is only one of the buildings which constitute the Project, Project Expenses shall be allocated by Landlord, in its reasonable discretion, to both the tenants of the Building and the tenants of the other buildings in the Project. The portion of Project Expenses allocated to the tenants of the Building shall consist of (i) all Project Expenses attributable solely to the Building and (ii) an equitable portion of Project Expenses attributable to the Project as a whole and not attributable solely to the Building or to any other building of the Project.

Appears in 1 contract

Sources: Office Lease (Venture Catalyst Inc)