Common use of Exclusions from Operating Expenses Clause in Contracts

Exclusions from Operating Expenses. Notwithstanding anything to the contrary contained elsewhere herein, Operating Expenses shall not include: (a) expenses for which the Landlord is reimbursed (either by an insurer, condemnor, tenant or otherwise); (b) expenses incurred in leasing; (c) except as allowed under Section 4.02(a)(2)(A)(vi) above, capital improvements and replacements which under generally applied cash basis accounting principles and practices would be classified as capital expenditures; (d) depreciation of any description on Building, Premises, improvements, machinery, tools, equipment or any other items used in connection with the operation and maintenance of the Building, excluding small tools and small equipment used in routine maintenance; (e) finance charges for any future capital expenditures; (f) business and occupation (“B & O”) taxes.