OPERATING EXPENSE ESCALATIONS Sample Clauses

The Operating Expense Escalations clause defines how increases in a property's operating costs are handled over the term of a lease. Typically, this clause allows the landlord to pass on a portion of rising expenses—such as utilities, maintenance, or property taxes—to the tenant, often by comparing current costs to a base year or fixed amount. Its core function is to ensure that landlords are not solely responsible for inflation or increased costs, thereby allocating the risk of operating expense increases between landlord and tenant.
OPERATING EXPENSE ESCALATIONS. Effective as of the Additional Space Commencement Date, with respect to the Additional Space only: a. For purposes of Article 49.02(i) of the Lease, the reference at line two (2) thereof to “2010” is hereby replaced with “2011”. b. For purposes of Article 49.02(i) of the Lease, the reference at line four (4) thereof to “2008, 2009 and 2010” is hereby replaced with “2009, 2010 and 2011”. c. For purposes of Article 49.02(ii) of the Lease, the reference at line two (2) thereof to “three and five hundredths (3.05%) percent” is hereby replaced with “one and eight hundredths (1.08%) percent”. d. For purposes of Article 49.02(ii) of the Lease, the reference at line seven (7) thereof to “12,919” is hereby replaced with “4,585”. e. For purposes of Article 49.02(iv) of the Lease, the reference at line four (4) thereof to “January 1, 2011” is hereby replaced with “January 1, 2012”.
View SourceView Similar (4)
OPERATING EXPENSE ESCALATIONS. Tenant shall pay to Landlord as additional rent hereunder when and as designated by notice in writing by Landlord, SEVENTY TWO AND FORTY FOUR Hundredths percent (72.44%) of any increase in Landlord's operating expenses over those incurred during the calendar year period commencing January 1, 2001 and ending December 31, 2001, which for this provision shall be Tenant's base year (referred to herein as the "Base Year"). For this provision, operating expenses are defined as all reasonable expenses of Landlord in maintenance, repair and operation and management of the Property for the benefit or protection of all property, tenants and owners thereof. Capital improvements, reimbursed expenses, interest, and expenses related to mortgaging of the Property or extension of any mortgage financing shall not be considered operating expenses under this provision. For calculating Landlord's annual operating expenses for the Property, Landlord's operating expenses shall include, but are not limited to, the following categories with descriptions: Heat: Fuel necessary to heat the entire Building. Hot Water: Fuel necessary to provide hot water to all bathroom areas within the Building. Air Conditioning: Electric power necessary to air condition all applicable interior areas of the Building, unless served by a separate system maintained for any tenant. City Water and Sewage: Public water and sewage charges for the Property. Off-Street Parking: Cost to rent and maintain all parking lot(s) used by all tenants of the Property. Landscaping: Costs for grass cutting, shrub maintenance, tree pruning, watering, etc. Exterior Maintenance: Costs for maintaining and repairing all exterior areas of the Property. Snow Removal: Costs to shovel, plow, sand, salt, and remove snow off-site from the parking lots and exterior common entryway areas serving the Property. Common Area Janitorial: Costs to clean and maintain the interior common areas of the Building. Common Area Janitorial Supplies: Costs of all supplies and materials to clean and maintain the interior common areas of the Building. Rubbish: Cost to remove all rubbish and debris off-site from the Building and rental fees for any dumpsters for use by all tenants or by Landlord in maintaining the Building. On-Line Alarm System: Cost of maintaining, repairing and monitoring as necessary all electronic common area security systems for the protection of the common areas of the Building. On-Site Security Person: Costs of providing one (1)...
View SourceView Similar (3)
OPERATING EXPENSE ESCALATIONS. With respect to each calendar year of the term hereof subsequent to 2014 (hereinafter referred to as the “Operating Expense Base Year”) including the calendar year in which this Lease terminates, Landlord shall deliver to Tenant, no later than thirty (30) days prior to the commencement of each such calendar year, a written estimate (hereinafter referred to as the “Estimate”) signed by an officer or agent of the Landlord, wherein is set forth Landlord’s good faith estimate of the extent by which Operating Expenses for the particular calendar year will exceed Operating Expenses for the Operating Expense Base Year and an amount (hereinafter referred to as the “Amount”) equal to Tenant’s Expense Share of such excess. The parties agree that the amount of Operating Expenses for the Operating Expense Base Year shall be $250,000.00. Operating Expenses shall be defined as all reasonable costs and expenses, without duplication, paid or incurred by Landlord, in the reasonable exercise of Landlord’s business judgment with respect to the following:
View SourceView Similar (2)
OPERATING EXPENSE ESCALATIONS. Effective as of the date hereof, Article 27 of the Lease is hereby amended, with respect to the U▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇ Space, the U▇▇▇ ▇▇▇ Space and any 15th Floor Offer Space leased to Tenant pursuant to Article 7 hereof only, as follows:
View Source
OPERATING EXPENSE ESCALATIONS. From and after the New Premises Commencement Date, Tenant shall continue to pay to Landlord, as Additional Rent with respect to the New Premises, operating expense escalations in accordance with Section 2.C of the Lease, which Section 2.C., with respect to the New Premises only, shall be deemed modified as follows:
View Source
OPERATING EXPENSE ESCALATIONS. If the occupancy of the Building during any part of any calendar year during the Term (including the Base Year) is less than ninety-five percent (95%), Landlord shall make an appropriate adjustment of the variable components of Operating Expenses for that calendar year, as reasonably determined by Landlord using sound accounting and management principals, to determine the amount of Operating Expenses that would have been incurred had the Building been ninety-five (95%) occupied. This amount shall be considered to have been the Operating Expenses for that calendar year. For purposes of this subsection 3.3, variable components (“Variable Components”) include only those component expenses that are affected by variations in occupancy levels.
View Source
OPERATING EXPENSE ESCALATIONS. With respect to each twelve month period beginning on each August 1 and ending on each July 31 during the term hereof (each, a "Fiscal Year") subsequent to the period beginning on August 1, 2020 and ending on July 31, 2021 (hereinafter referred to as the "Operating Expense Base Year") including the Fiscal Year in which this Lease terminates, Landlord shall deliver to Tenant, no later than thirty (30) days prior to the commencement of each such Fiscal Year, a written estimate (hereinafter referred to as the "Estimate") signed by an officer or agent of the Landlord, wherein is set forth Landlord's good faith estimate of the extent by which Operating Expenses for the particular Fiscal Yem· will exceed Operating Expenses for the Operating Expense Base Year and an amount (hereinafter referred to as the "Amount") equal to ▇▇▇▇▇▇'s Expense Share of such excess. The Estimate for the first Fiscal Year subsequent to the Operating Expense Base Year and for each succeeding Fiscal Year shall not exceed One Hundred Five Percent (105%) of the amount by which the Operating Expenses for such Fiscal Year exceeded the Operating Expenses for the immediately preceding Fiscal Year; it being understood that the Estimate, and the annual limitation thereon, shall not in any way limit the amount of the actual share of Operating Expense for which Tenant shall be obligated to pay to Landlord under the terms of this Lease. Operating Expenses shall be defined as all reasonable costs and expenses, without duplication, paid or incurred by Landlord, in the reasonable exercise of Landlord's business judgment with respect to the following:
View Source
OPERATING EXPENSE ESCALATIONS. The base year for calculation of Lessee's share of the operating expense and real estate tax increases for the building shall be adjusted to be 1995 and will be based upon 24,960 rentable square feet. All other terms and conditions of Paragraph 19 of the Lease, Operating Services and Real Estate Taxes, shall remain the same.
View Source
OPERATING EXPENSE ESCALATIONS. With respect to each twelve month period beginning on each August 1 and ending on each July 31 during the term hereof (each, a "Fiscal Year") subsequent to the period beginning on August 1, 2020 and ending on July 31, 2021 (hereinafter referred to as the "Operating Expense Base Year") including the Fiscal Year in which this Lease terminates, Landlord shall deliver to Tenant, no later than thirty (30) days prior to the commencement of each such Fiscal Year, a written estimate (hereinafter referred to as the "Estimate") signed by an officer or agent of the Landlord, wherein is set forth Landlord's good faith estimate of the extent by which Operating Expenses for the particular Fiscal Yem· will exceed Operating Expenses for the Operating Expense Base Year and an amount (hereinafter referred to as the "Amount") equal to ▇▇▇▇▇▇'s Expense Share of such excess. The Estimate for the first Fiscal Year subsequent to the Operating Expense Base Year and for each succeeding Fiscal Year shall not exceed One Hundred Five Percent (105%) of the amount by which the Operating Expenses for such Fiscal Year exceeded the Operating Expenses for the immediately preceding Fiscal Year; it being understood that the Estimate, and the annual limitation thereon, shall not in any way limit the amount of the actual share of Operating Expense for which Tenant shall be obligated to pay to Landlord under the terms of this Lease. Operating Expenses shall be defined as all reasonable costs and expenses, without duplication, paid or incurred by Landlord, in the reasonable exercise of Landlord's business judgment with respect to the following:
View Source

Related to OPERATING EXPENSE ESCALATIONS

  • 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.

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Common Area Operating Expenses Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share (as specified in Paragraph 1.6(b)) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions:

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • 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.