OPERATING COSTS AND PROPERTY TAXES Clause Samples

The "Operating Costs and Property Taxes" clause defines the tenant's responsibility to pay a share of the ongoing expenses associated with running and maintaining the property, as well as their portion of property taxes. Typically, this clause outlines which specific costs are included—such as utilities, repairs, insurance, and municipal taxes—and how the tenant's share is calculated, often based on the proportion of space they occupy. Its core function is to ensure that the landlord is reimbursed for these variable expenses, thereby allocating the financial burden of property upkeep and taxation fairly between landlord and tenant.
OPERATING COSTS AND PROPERTY TAXES. In addition to Basic Rent, the Tenant shall be responsible for paying its proportionate share of operating expenses and property taxes, on a monthly basis, in advance on the first day of each month (the “Operating Costs and Property Taxes” to be defined in the Lease), which shall include all actual and reasonable costs incurred by the Landlord in operating, servicing, maintaining, insuring, repairing and managing the Leased Premises. The Operating Costs and Property Taxes are estimated at Seven Dollars and Thirty-Five Cents ($7.35) per square foot of Rentable Area for the fiscal year of the Building ending September 30, 2010. The Landlord shall arrange and be financially responsible for all installation costs for separate metering of all utilities supplied to the Tenant, pursuant to the Lease. This may be by way of a sub-meter and include third-party monitoring which shall form part of the Tenant’s Operating Costs.
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OPERATING COSTS AND PROPERTY TAXES. The Sub-Sub-Tenant's Proportionate Share of Operating Costs and Property Taxes, currently estimated at $10.08 per square foot for the 2000 fiscal year, plus Goods and Services Tax, shall be payable as additional rent as per the terms of the Lease during the Term in addition to the Basic Rent.
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OPERATING COSTS AND PROPERTY TAXES. In addition to Basic Rent, the Subtenant shall pay the Sublandlord additional rent (“Additional Rent” and, together with Basic Rent, “Rent”) on a monthly basis in advance on the first day of each month. The Additional Rent will be equal to the additional rent payable by the Sublandlord, as tenant, under the Lease pursuant to Article 12 of the Lease plus any other amount charged to the Sublandlord, as tenant, in accordance with the terms of the Lease, in respect of the Subtenants use of the Subleased Premises. The Sublandlord represents its additional rent payments for fiscal 2009, including in-suite janitorial services and utility consumption of a standard user, were approximately $13.32 per square foot. The Subtenant acknowledges it will be responsible for all utility costs charged to the Sublandlord in accordance with the terms of the Lease during the Term, in respect of the Subtenants use of the Subleased Premises and, if the Subtenant is a larger consumer of utilities than the Sublandlord was in fiscal 2009, the Subtenant’s monthly Additional Rent payments will exceed $13.32 per square foot. In the event the Subtenant feels that specific charges forming part of Additional Rent are unreasonable, the Subtenant may raise the issue with the Sublandlord and the Sublandlord will, in good faith, raise the issue with the Landlord for review.
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OPERATING COSTS AND PROPERTY TAXES. As Additional Rent, commencing on the Commencement Date, Tenant shall pay to Landlord the following amounts incurred or paid by Prime Landlord or Landlord for the benefit of Tenant during any Lease Year (collectively, “Tenant’s Operating Cost Obligation”): (a) Property Taxes and Operating Costs that are allocable to the Casino and the Casino Back-of-the-House Areas; but not the Hotel or the Remaining Property and (b) Property Taxes and Operating Costs for the Remaining Property that are appropriately allocable to the Casino and the Casino Back-of-the-House Areas. Property Taxes and Operating Costs that are allocable to the Casino and the Casino Back-of-the-House Areas, but not the Hotel or the Remaining Property, and Property Taxes and Operating Costs with respect to the Remaining Property that are appropriately allocable to the Casino and the Casino Back-of-the-House Areas shall be determined by the Operating Cost Consultants. The Operating Cost Consultants shall also determine the absolute amounts of and the applicable percentages of the Property Taxes and Operating Costs appropriately allocated to the Casino and the Casino Back-of-the-House Areas, and not the Hotel or the Remaining Property, and appropriately allocated to the Casino and the Casino Back-of-the-House Areas on account of the Remaining Property.
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OPERATING COSTS AND PROPERTY TAXES. Additional Rent (including, without limitation that Tenant’s proportionate share of, Operating Costs and Property Taxes) payable by the Tenant will be estimated on an annual basis by the Landlord for such annual period as is designated by the Landlord from time to time. The Tenant will pay the Landlord the estimated amount in monthly instalments in advance on the first day of each calendar month during the designated period. Within sixty (60) days following the designated period, the Landlord will furnish to the Tenant a statement setting out the Operating Costs and Property Taxes for such period. If the amount payable by the Tenant as shown on any such statement is greater or less than the aggregate of amounts paid by the Tenant under this Section 3.2, the proper adjusting credit or payment will be made between the parties within 14 days after delivery of the statement. Any credit made by the Landlord or payment made by the Tenant and accepted by the Landlord in respect of any adjustment made hereunder, will be without prejudice to the Landlord’s or Tenant’s right to claim a readjustment provided such claim is made within 12 months from the date of delivery of the statement referred to in this Section 3.2. Landlord shall keep accurate and current records in respect of such Additional Rent, which records may be reviewed by the Tenant or the Tenant’s agent upon request.
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OPERATING COSTS AND PROPERTY TAXES. 6.1 The Tenant is responsible for all operating costs in relation to its use of the Premises including but not limited to utilities. 6.2 If the Premises are not exempt, the Tenant is responsible for payment of any municipal, regional district, school or other property taxes, that are levied against either the Landlord or the Tenant as a result of the Tenant’s use or occupation of the Premises.
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Related to OPERATING COSTS AND PROPERTY TAXES

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.

  • Real Property Taxes Taxes, assessments and charges now or hereafter levied or assessed upon, or with respect to, the Project, or any personal property of Landlord used in the operation thereof or located therein, or Landlord's interest in the Project or such personal property, by any federal, state or local entity, including: (i) all real property taxes and general and special assessments; (ii) charges, fees or assessments for transit, housing, day care, open space, art, police, fire or other governmental services or benefits to the Project, including assessments, taxes, fees, levies and charges imposed by governmental agencies for such purposes as street, sidewalk, road, utility construction and maintenance, refuse removal and for other governmental services; (iii) service payments in lieu of taxes; (iv) any tax, fee or excise on the use or occupancy of any part of the Project, or on rent for space in the Project; (v) any other tax, fee or excise, however described, that may be levied or assessed as a substitute for, or as an addition to, in whole or in part, any other Real Property Taxes; and (vi) reasonable consultants' and attorneys' fees and expenses incurred in connection with proceedings to contest, determine or reduce Real Property Taxes. Real Property Taxes do not include: (A) franchise, transfer, inheritance or capital stock taxes, or income taxes measured by the net income of Landlord from all sources, unless any such taxes are levied or assessed against Landlord as a substitute for, in whole or in part, any Real Property Tax; (B) Impositions and all similar amounts payable by tenants of the Project under their leases; and (C) penalties, fines, interest or charges due for late payment of Real Property Taxes by Landlord. If any Real Property Taxes are payable, or may at the option of the taxpayer be paid, in installments, such Real Property Taxes shall, together with any interest that would otherwise be payable with such installment, be deemed to have been paid in installments, amortized over the maximum time period allowed by applicable law. If the tax statement from a taxing authority does not allocate Real Property Taxes to the Building, Landlord shall make the determination of the proper allocation of such Real Property Taxes based, to the extent possible, upon records of the taxing authority and, if not so available, then on an equitable basis. Real Property Taxes also do not include any increases in the taxes, assessments, charges, excises and levies assessed against the Project due solely to the construction or installation of tenant improvements or other alterations by tenants of the Project other than Tenant and any other tenants or occupants of the Building; provided, however, that if any Real Property Taxes are imposed or increased due to the construction or installation of tenant improvements or other alterations in the Building, such Real Property Taxes shall be equitably prorated in Landlord's reasonable judgment between Tenant and any other tenants of the Building.

  • Property Taxes Landlord shall pay, prior to delinquency, all general real estate taxes and installments of special assessments coming due during the Lease term on the Leased Premises, and all personal property taxes with respect to Landlord's personal property, if any, on the Leased Premises. Tenant shall be responsible for paying all personal property taxes with respect to Tenant's personal property at the Leased Premises.

  • Personal Property Taxes Lessee shall pay, prior to delinquency, all taxes assessed against and levied upon Lessee Owned Alterations, Utility Installations, Trade Fixtures, furnishings, equipment and all personal property of Lessee. When possible, Lessee shall cause such property to be assessed and billed separately from the real property of Lessor. If any of Lessee's said personal property shall be assessed with Lessor's real property, Lessee shall pay Lessor the taxes attributable to Lessee's property within ten (10) days after receipt of a written statement.