OPERATING COSTS ADJUSTMENT Clause Samples

OPERATING COSTS ADJUSTMENT. (JUN 2012) A. Beginning with the second year of the Lease and each year thereafter, the Government shall pay annual incremental adjusted rent for changes in costs for cleaning services, supplies, materials, maintenance, trash removal, landscaping, water, sewer charges, heating, electricity, and certain administrative expenses attributable to occupancy. B. The amount of adjustment will be determined by multiplying the base rate by the annual percent of change in the Cost of Living Index. The percent change will be computed by comparing the index figure published for the month prior to the Lease Term Commencement Date with the index figure published for the month prior which begins each successive 12-month period. For example, a Lease which commences in June of 2005 would use the index published for May of 2005, and that figure would be compared with the index published for May of 2006, May of 2007, and so on, to determine the percent change. The Cost of Living Index will be measured by the Department of Labor revised Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), U.S. city average, all items, (1982 to 1984 = 100) published by the Bureau of Labor Statistics. Payment will be made with the monthly installment of fixed rent. Rental adjustments will be effective on the anniversary date of the Lease; however, payment of the adjusted rental rate will become due on the first workday of the second month following the publication of the Cost of Living Index for the month prior to the commencement of each 12-month period. C. In the event of any decreases in the Cost of Living Index occurring during the term of the occupancy under the Lease, the rental amount will be reduced accordingly. The amount of such reductions will be determined in the same manner as increases in rent provided under this paragraph. D. If the Government exercises an option to extend the Lease term at the same rate as that of the original term, the option price will be based on the adjustment during the original term. Annual adjustments will continue.
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OPERATING COSTS ADJUSTMENT. The Base Rent payable pursuant to Section 1 of the Sixth Amendment to Lease is predicated, in part, upon an operating cost "stop" for the Building of $5.79 per rentable square foot. Tenant shall pay to Landlord as additional rent for the Existing Space the amount derived by multiplying 51,872 (being the rentable area of the Existing Space)by the amount by which the total annual operating costs of the Building exceed $5.79 per rentable square foot.
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OPERATING COSTS ADJUSTMENT. Tenant’s Proportionate Share of the amount by which the Operating Costs incurred during any calendar year during the Term exceed the Operating Costs incurred during the Base Year (Section 3.2)
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OPERATING COSTS ADJUSTMENT. Subject to the modification provisions set forth in Sections 3.2(f) and 3.2(g) of the Lease, Tenant's Proportionate Share (Operating Costs) of the amount by which the Operating Costs incurred during any calendar year during the Term exceed the Operating Costs incurred during the Base Year (Section 3.2)
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OPERATING COSTS ADJUSTMENT. Sears Lease As of the date of this Lease, Sears Roebuck & Co. ("Sears") leases approximately 248,376 rentable squa▇▇ ▇▇▇▇ of space (the "Retail Space") in the Building. During the Term, except as provided herein, total Operating Costs will be reduced by the annual amount set forth on Exhibit H attached to this Lease (the "Retail Contribution"). The Retail Contribution covers a portion of the Operating Costs (the "Sears Operating Costs") for water, management fees, administrative fees and insurance, being the services (the "Sears Services") which Landlord is, as of the date of this Lease, obligated to furnish to Sears under the Sears Lease. Any other services or requirements needed by Sears to operate the Retail Space are paid by Sears. Landlord further agrees that if in the future Landlord provides additional services (other than the Sears Services) to Sears or any other retail occupant of the Retail Space, then the cost of such additional services will not be included in Operating Costs. In addition, if following the expiration of the Sears Lease, the Retail Space is used for office purposes rather than retail purposes, the parties will make an equitable adjustment (on a proportionate basis) to (i) the Retail Contribution, (ii) Tenant's Proportionate Share - Operating Costs, (iii) the Base Year Operating Costs, and (iv) any other item(s) requiring an adjustment as a result of such conversion; provided, however, that in no event will any such adjustment result in Tenant paying any more or less, on a per square foot basis, than what Tenant would have paid had the Sears Lease not expired.
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OPERATING COSTS ADJUSTMENT. Section 4.6............................17
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OPERATING COSTS ADJUSTMENT 
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Related to OPERATING COSTS ADJUSTMENT

  • Operating Costs (a) Tenant shall maintain the Premises in their condition on the Effective Date at Tenant’s sole cost and expense. Landlord may inspect the Premises and, if Landlord reasonably determines that Tenant is not maintaining the Premises in their condition on the Effective Date, Landlord may provide Tenant with written notice of any such maintenance concern, and Tenant shall promptly make such repairs. If Tenant fails to complete such repairs within thirty (30) days of receipt of such notice, Landlord may undertake such repairs and Tenant shall be obligated to reimburse Landlord for its costs within ten (10) days of receipt of an invoice therefore. Landlord represents and warrants to Tenant that the exterior walls, foundation and roof of the Premises are in good working order on the Effective Date. Landlord will, at its cost, replace, restore, repair or maintain (as necessary) the roof until the first anniversary of the Commencement Date. Landlord will, at its cost, replace, restore, repair or maintain (as necessary) the exterior walls and foundation of the Premises until the fifth anniversary of the Commencement Date. Tenant shall be fully responsible for the replacement, restoration, repair and maintenance of the roof, exterior walls and foundation of the Premises thereafter. If Landlord fails to commence such repairs within thirty (30) days of receipt of any notice from Tenant, Tenant may undertake such repairs and Landlord shall be obligated to reimburse Tenant for its costs within ten (10) days of receipt of an invoice therefore; provided, however, that Tenant shall have no rights to offset or set off any such amounts against the Rent to be paid hereunder. If Landlord does not reimburse Tenant within ten (10) days from the date of notice, such charge shall bear interest at the rate of eighteen percent (18%) per annum until paid. Notwithstanding anything to the contrary herein contained (except for the provisions of paragraph 32 below), if Tenant makes any changes, additions or alterations to the roof of the Premises which involves penetration of the roof (other than those for telecommunications installations so long as the installation contractor has Landlord’s prior written approval which will not be unreasonably conditioned, delayed or denied), Landlord’s obligations to replace, restore, repair or maintain the roof shall cease. If Tenant undertakes any structural repairs in the Premises which impact, affect, or alter the walls or foundation of the Premises, Landlord’s obligation to replace, restore, repair or maintain that portion of the exterior walls and foundation of the Premises shall cease as of the date of such action by Tenant. Any Operating Costs that pertain to a period prior to or after the Lease Term will be pro rated between Landlord and Tenant in the proportion of the amount of the Lease Term that falls within the period to which the Operating Costs pertain. (b) Tenant shall pay all Operating Costs during the Lease Term.

  • CLOSING COSTS AND ADJUSTMENTS All adjustments are made as of settlement date.

  • Cost Adjustments Both parties agree that contracted prices shall be fixed for the first 12 months of this Contract. Contractor must submit to District any proposed cost adjustments at least 60 days before the proposed effective date of such increases with a detailed explanation for each adjustment. District alone reserves the right to reject any changes to this Contract it deems unacceptable.

  • Operating Expenses During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall ▇▇▇▇ Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.