Common use of Direct Expense Clause in Contracts

Direct Expense. All direct costs of operation and maintenance as determined by standard accounting practices, which shall include the following costs by way of illustration, but not limitation: real property taxes and assessments; rent taxes, gross receipt taxes (whether assessed against the Landlord or assessed against the Tenant and collected by the Landlord, or both); water and sewer charges; insurance premiums; utilities; janitorial services; labor; costs incurred in the management of the Building, if any; air-conditioning and heating; elevator maintenance; supplies; materials; equipment; and tools; including maintenance, costs, and upkeep of all parking and common areas. Direct Expenses shall not include depreciation on the Building of which the Premises are a part, loan payments, or real estate brokers' commissions. Direct Expenses that vary with occupancy and that are attributable to any part of the term in which less than ninety-five percent (95%) of the rentable area of the Building is occupied by tenants will be adjusted by Landlord to the amount that Landlord reasonably believes such Direct Expenses would have been if ninety-five percent (95%) of the rentable area of the Building had been so occupied.

Direct Expense. All direct costs of operation and maintenance as determined by standard accounting practices, which shall include the following costs by way of illustration, but not limitation: real property taxes and assessments; rent taxes, gross receipt taxes (whether assessed against the Landlord or assessed against the Tenant and collected by the Landlord, or both); water and sewer charges; insurance premiums; utilities; janitorial services; labor; costs incurred in the management of the BuildingProject, if any; air-conditioning and heating; elevator maintenance; supplies; , materials; equipment; and tools; including maintenance, costs, costs and upkeep of all parking and common areas. Direct Expenses shall not include depreciation on the Building of which the Premises are a part, loan payments, or real estate brokers' commissions. Direct Expenses that vary with occupancy and that are attributable to any part of the term in which less than ninety-five percent (95%) of the rentable area of the Building Project is occupied by tenants will be adjusted by Landlord to the amount that Landlord reasonably believes such Direct Expenses would have been if ninety-five percent (95%) of the rentable area of the Building Project had been so occupied.